Catherine Austin Fitts | QE3 – Pay Attention If You Are in the Real Estate Market

QE3 – Pay Attention If You Are in the Real Estate Market

I used to have a deputy who said that the FHA mortgage insurance funds were where mortgages went to die. That was, however, before the creation of MERS, derivatives and the explosion of mortgage fraud during the 1990′s which in combination with the “strong dollar policy” engineered what I have referred to as a financial coup d’etat.

The challenge for Ben Bernanke and the Fed governors since the 2008 bailouts has been how to deal with the backlog of fraud – not just fraudulent mortgages and fraudulent mortgage securities but the derivatives piled on top and the politics of who owns them, such as sovereign nations with nuclear arsenals, and how they feel about taking massive losses on AAA paper purchased in good faith.

On one hand, you could let them all default. The problem is the criminal liabilities would drive the global and national leadership into factionalism that could turn violent, not to mention what such defaults would do to liquidity in the financial system. Then there is the fact that a great deal of the fraudulent paper has been purchased by pension funds. So the mark down would hit the retirement savings of the people who have now also lost their homes or equity in their homes. The politics of this in an election year are terrifying for the Administration to contemplate.

Rest here…

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4closureFraud.org

Comments
2 Responses to “Catherine Austin Fitts | QE3 – Pay Attention If You Are in the Real Estate Market”
  1. Sarah says:

    “It is hard to win a presidential election in 3100 counties when multiple federal agencies are in the local courts trying to foreclose on half the county while supporting arguments that a national registration system is free to violate local property laws with impunity.”

    Both campaigns are very aware of the numbers involved here, the m.o. has been to extend, pretend, bury, propagandize, legislate, bail, indemnify and reach a settlement/bailout. As houses are snapped up by vultures, the false impression is that housing is on the way back up.
    The current administration has ignored homeowners again and again, while baiting and switching programs designed to benefit Banks. Homeowners don’t matter, neither do the jobless, even in the hollow rhetoric of “campaign” season.

  2. Bobbi Swann says:

    Does anybody think it odd that at the same time they place QE3 that the NDAA was put back in place? Do you suppose by any chance that the results of QE3 will cause rioting and chaos out in the streets and the NDAA can put a stop to all of that? Does ANYBODY out there ever put 2 & 2 together? Does it seem odd that Fannie/Freddie (now gov’t owned) will purchase all the fraud & send it out to purchasers across the board who can buy in large lots? Do you think any of this is related to the fact that Obama put the word out to any foreign investor who had $250K to sock into the US to buy up bundled properties? Our country is being sold lock, stock and barrell….is anybody listening?

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