They don’t care about saving money. They will not right down the principal for one reason. Then the true value will be marked to market. No more fictitious capital valuations for the banks and they implode.
This is a dead on description of what is happening with the Banks and Gov’t and how they are trying to welch on their debts.
Max Keiser: fictitious capital with Michael Hudson
Imagine if EVERY court nationwide said “show me the note.” Virtually no bank would be able to carry through with a foreclosure, the land records being the total mess that they are.
They don’t care about saving money. They will not right down the principal for one reason. Then the true value will be marked to market. No more fictitious capital valuations for the banks and they implode.
This is a dead on description of what is happening with the Banks and Gov’t and how they are trying to welch on their debts.
Max Keiser: fictitious capital with Michael Hudson
Imagine if EVERY court nationwide said “show me the note.” Virtually no bank would be able to carry through with a foreclosure, the land records being the total mess that they are.