Mortgage Rewrites, Gold value inflation: don't make me pay for someone elses mistakes!

The plan for mortgage rewrites is out, but it's clear that it won't deal with the entire problem. I would argue that since we don't know the full consequences of the ARM and Alt-A resets due this year and next that it will probably do little. I consider it to be another way of extorting tax payer dollars for a socialist agenda. This whole thing is going to be fraught with fraud, you can bet on it, it'll be a replay of the TARP bailout where Geitner said he doesn't really remember where all the money went. This whole effort will fail and the burden for it placed on the back of already stressed tax payers.

For the article on Gold prices and inflation the original article appears to be gone, at least I was unable to find it, but if you email Jon Nadler at Kitco.com and ask for the inflation report you can receive it by mail. His email address is jnadler@kitco.com. I could post my copy but I'm unsure about copyright rules on it.

My view on gold is divided between the belief that it will appreciate to reflect all the money being created out of nothing to support our bankrupt financial system and the historical issue of what happened in the crisis in 1982 when gold declined in value. You want to be aware of trends from the past that suggest that the Fed will be able to pull out all the liquidity they've injected...worldwide. The probability of this happening the way they think it will is remote if you ask me, especially looking at the fed balance sheet, but it could happen....just a little warning.

Category:

Nonprofits & Activism

Tags:

• inflation
• gold
• mortgage
• rewrites
• default
• debasement
• collapse
• fraud
• government
• excess
• bailout
• stimulus
• spending
• pork

[or97035]

we should make a law to enforce the law

[myliverwurst]

Isn't that ironic.....pass a law to enforce an existing law? Watch the PBS Frontline episode about Cheney, it talks about Bush's signing statements that essentially said he wasn't paying attention to the law.

[Luvanicebum]

I'm thinking precious metals are going to take another significant drop when these Alt A's and ARM's reset.

During that downturn, the larger holders of gold and silver will need to liquidate their holding in order to service their debts. We could see Gold/$700 Silver/$10 again, this is when you go ALL IN with as much as you can because after the world digests those losses, it's off to the races for the BRIC's and that's when the Greater Depression starts.