The financial news thesae days is a lot of history being repeated. European countries are going the way of the nations in Africa and South America, before them. The objective of Commerce is always conquest. The driving force behind commerce is the fatal flaw in human nature that brings people ro depend on government to rob their neighbors, for their material gain. We now live in a world of organized looting.
With all of the global financial instability in the news, this week, everyone would just like to sit back and take a deep breath. The one fact that we must all understand is that it is imperative that we get independent of fiat currencies. I hear people say all the time, “It’s all we’ve got”. If we are so enslaved by the corporate oligarchy that we can’t see outside the blinders of our education and cultural indoctrination, then we are slaves. The trap that Baron Rothschild and his sons built, is very well sprung. The currency is the lock on the prison we are confined in. Is there an escape?
Purpose Driven Defects: Hidden Players
Purpose Driven Defects
This is an interesting scenario. I wish this were the only variation on this theme. Then, someone could tell me that the world isn’t as crooked as I say it is. The heart of man is deceitfully wicked, above all things. Played out many times in the last 30 years, any legal conflicts never exposed all of the parties involved, in the same litigation. One hand is literally clueless to the existence of the other. Documentary separation precludes both hands being caught in the cookie jar, at the same time.
At the top of this food chain is a bank trustee to sign off on everything. Next, there is at least one loan officer, to make the paperwork look good. Rounding out this cabal is a real estate broker, an insurance broker and 4 to 6 investors. Just to illustrate the financial clout in one of these arrangements, if the buy-in to the group is $50,000, that’s a total of as much as $450,000 in seed money. Once the consortium is rooted and established, it could be collecting 2% interest on as much as $6 million in mortgages. Let’s take a look at the possibilities.
Scenario #1 A mortgage applicant walks into the bank and sits down with the loan officer. He doesn’t have the required 20 % down payment. Yes, I know that a lot of creative financing has gone under the bridge since those days, but that is exactly the practices under discussion here. The loan officer looks over the application. He sees the negative against approval by the bank and says, “No problem! “We” can get you financed.” The applicant is sent to the real estate broker. An agreement is written, containing 2% more interest that the holding/funding company can get on a mortgage. One important point must be made, here. In many instances, the funding source is not presenting itself or acting as a lending institution. It isn’t until there is a legal conflict that people discover that they only thought they had a “mortgage” with the “bank”. In reality, the funding company jumped the applicant on the sale, then made agreementon a private sale by owner, with private terms. The fuinding company bought the property, and the applicant helped make the down payment. Technically, the applicant doesn’t own the property until the terms are satisfied. There is a closing, but it isn’t as the applicant believes. He’s in the property , under license.
As an example, if the sale price is 150,000, the applicant gets a much more expensive deal than the den of thieves. He has 20,000 down and a financed amount of $130,000. The cabal $30,000 down, a financed amount of $120,000 and an interest rate 2% lower than the applicant. Over time, the payoff amounts widen and it’s a winner for the funding company. In some cases, the money people had lines of credit equal to their investment. Effectively, they risked nothing. I’m sure you’re aware of all of the self help real estate books and videos about using “Other Peoples’ Money”. This is one opf those brilliant ideas.
Scenario #2 In this scenario, the fun is just beginning. After 5 years, either the funding source or the original applicant finds a buyer for the property at $200,000.
There are enough carrots dangling here, to make everyone happy. The applicant is offered his equity and appreciation, plus a $20,000 “commission”, if the funding company writes the new agreement. There’s nothing like bringing unwitting and unaware in to do their bidding. However the chips fall, the funding company makes a lot of money, especially if the original applicant “buys” another property, through them. In a rising market, it has proven to be easy to do, with no disruptions to risk exposure in litigation.
Scenario #3 This one is everyone’s nightmare. A declining market, growing numbers of defaults, and uncertainty about the future begin to wear on the money machine. The negative cash flow runs back up the pipeline in a shockwave. Capital sources dry up. Banks fail. Holding a lot of inventory that isn’t producing income puts a business, out of business.That should explain ehy the only word thast people want to hear is “recovery”. When the wheels fall off of the currency everyone loses except the Federal Reserve. The system acquired the assets for the printing costs.
All of the details in these scenarios don’t exactly fit any single individual or institution. The pattern however, is much deeper and ingrained in the United States. If people learn how things work, it’s because the Federal Reserve taught them. Once people learn how to create “money” out of thin air by terms of sale and the wiggle room in fractional banking, unwary people are ripe for the plucking. No one runs the Bait-and-Switch better than the Federal Reserve. They built the cracks that are the reason the “owner” of a property can be officially listed as “occupant”. In the illusion of the Federal Reserve world, no one owns anything and everything is under central Fascist management. As strange and dangerous as this Brave New World is, people still want to be good, loyal little Corporatists. When their turn comes to take one for the team, the newest version of Der Feuhrer will say nice things about them after they’ve gone conquering for the Homeland. They went too far too back out. Now, they just hope for the best, and legally support the worst.
“People stand silent in the presence of corruption, to fall back in the small comfort of passionate defense of virtue they should have displayed, before the fact.”
Debt vs. Security
The functional parameters of the concepts Debt and Security are black-and-white opposites. The contrast is so sharp that the use of the word “Securities” in investment circles is a fraudulent misrepresentation for the purpose of commercial promotion. There is nothing secure about paper. Ask Bernie Madoff’s investors. Read the rest of this entry »
Legality and Humanity part company when the demands of a dead thing, a corporation, are given priority over life. At the heart of the matter is the love of money and the lust for power.
This article will describe, in general terms, the history of each section title. For further study and investigation, better books have been written, compiled and edited by people with far more expertise, experience, research and professional background than myself. If anyone is encouraged to further study, this article will have served it’s purpose.
These days, we have so many influences bringing out glaring contrasts between Bureaucracy and Humanity. The hot spot today is the Federal Budget debate. This is nothing new. We’ve been watching people threaten each other with poverty since forever. It is during these bouts of confusing numbers and inflammatory ultimatums that we are reminded that turning on floodlights in a crowded bar, at midnight, can expose a lot of surprises.
It is in the contrasts, brought out it all their naked glory, that we see the behavior that causes us to cringe at admitting that we are associated with any of this mockery of all things American. Yet, we need this. We need to understand that Bureaucracy is anti-human. It is cannibalistic. Even in it’s most commercial context, it is impossible to find any compassion or grace for the behavior of Bureaucracy. Something happens to people when they gain auspicious titles and put on a suit and tie. In reality, they are no less human. They just act as predatory animals.
There is one thing that we can be sure of. Those who gain by this unreasonable facsimile of a reality show called government will not be found in line when the inevitable next step down in the currency collapse is taken. None will admit complicity in the Ponzi scheme that is the Federal Reserve. There won’t be a deal good enough to persuade the world to buy U. S. Treasury debt. The situation will become institutional looting and piracy.
This is the point when the masks come off and the wolves devour the sheep. The turmoil and protest in other countries will be seen in the United States. Bureaucracy believes that it is a law unto itself. The human common sense response would be to admit that there is a higher court than any institution of Man. But then, Bureaucracy ate of the forbidden fruit and bought into the original lie, long ago. No, the men of renown have not become gods, and their pride is going before destruction.
Thank you, Harmon …. In this circus, the lion eventually devours everyone, if they don’t have enough sense to get out of there.
From: Legal Reality <firstname.lastname@example.org>
Subject: Fwd: [GATA] Ambrose Evans-Pritchard: German ‘nein’ leaves Italy and Spain in turmoil
To: “Legal Reality” <email@example.com>
Date: Tuesday, July 12, 2011, 11:58 AM
12 July A.D. 2011There are multiple stories below. Key is the recent German decision to refuse to continue to finance Italy and Spain. The PIIGS nations are feeling the consequences of unpayable debt.
Not healthy for the EU. Ultimately, it’s probably good for those seeking liberty, for the thumb of the internationalist banking regime may have reached its limit. We’ll find out plenty soon enough.
To understand “exponential growth” is to understand what had to have been the plan from the beginning by the “lenders.” Where debt grows exponentially, which is what happens with interest, it is easy to calculate “when” any debt becomes unpayable.
The present “debt ceiling” political football is a fancy spin, i.e., cover story, on the reality that math is pretty solid in basis. A debt that’s growing exponentially can’t be paid. To continue to pretend that a “debt ceiling” needs to be raised is to continue to pull the wool over the people’s eyes as to the mathematical reality. Germany is commercially compelled to act within the boundaries of mathematical reality. Good for them.
We look forward to the day when the bread and circuses no longer keep the American minds focused away from our financial/mathematical reality.
As a interested voice in East Texas reminds us quite often, that which cannot be paid will not be paid.
Harmon L. Taylor
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—– Forwarded message —–
From: “Gold Anti-Trust Action Committee” <email@example.com>
Date: Mon, Jul 11, 2011 3:59 pm
Subject: [GATA] Ambrose Evans-Pritchard: German ‘nein’ leaves Italy and Spain in turmoil
01:59PM ET Monday, July 11, 2011
Ambrose Evans-Pritchard: German ‘nein’ leaves Italy and Spain in turmoil
How awful of those nasty Germans to resent paying for the loose living of others!
* * *
By Ambrose Evans-Pritchard
The Telegraph, London
Monday, July 11, 2011
Italian and Spanish bond yields soared to post-EMU highs in a fresh day of credit turmoil after Germany blocked any meaningful measures to defuse the crisis.
Chancellor Angela Merkel called for more “frugality” in Italy, sticking to her script that Rome can solve its woes with an austerity budget. Her finance minister Wolfgang Schauble said any boost to the EU’s E500 billion (L440 billion) bailout machinery was “out of the question.”
…. Dispatch continues below …
Prophecy (TSXV: PCY) Secures Russian Far East Seaport Allocation
and Updates Ulaan Ovoo Mine Production
Company Press Release, June 14, 2011
VANCOUVER, British Columbia — Prophecy Coal Corp. TSX-V: PCY)(OTCQX: PRPCF)(Frankfurt: 1P2) has arranged with the Port of Sovgavan in the State of Khabarovsk, Russia, so the company will have initial access to port allocation of 25,000 tonnes of coal per month starting this month, potentially expandable to 50,000 tonnes per month, representing 300,000 to 600,000 tonnes annually. Prophecy also will be assigned a coal storage area at the port.
This arrangement provides Prophecy’s Ulaan Ovoo thermal coal mine with immediate access to the Asian seaborne export coal markets. Sovgavan is strategically located on the seaboard of the Russian Far East. The port is privately owned and can accommodate seagoing vessels of up to 160 meters in length, with the depth of loading site of 9.5 meters. The port has loading capacity of 6,000 tonnes per day and direct connections to Trans-Siberian railroads and uncongested Russian state highways.
Securing the port opens Prophecy to a significant number of coal buyers, and the company is placing top priority to conclude rail transport within Russia and coal offtake contracts.
Prophecy’s Ulaan Ovoo mine commenced production in 2011. So far this year the mine has produced 200,000 tonnes of coal, which are being stockpiled. The average quality is 4,200 kcal/kg NAR with 5 percent ash and 0.5 percent sulphur. Those attributes compare favorably to the coal being purchased by local Russian and Mongolian power plants.
For the complete company statement, please visit:
Mr Schauble denied reports that Berlin was ready to empower the fund to purchase Spanish and Italian bonds pre-emptively on the open market, a move seen by experts as vital to halt dangerous contagion to the larger economies.
The market’s verdict on EU foot-dragging was instant and brutal. Yields on 10-year Spanish bonds smashed through the 6pc barrier for the first time since 1997, made worse by warnings from the Castilla-La Mancha region that its deficit had become “extremely serious.”
Italian yields jumped 44 points to 5.7 percent, a level that starts to threaten the sustainability of the country’s finances. Markit’s iTraxx SovX Western Europe, Europe’s sovereign stress gauge, saw the biggest one-day rise ever. “Contagion was the word on everybody’s lips,” said Gavan Nolan, Markit’s credit chief.
EU leaders seem unable to keep pace with the fast-moving events. Eurogroup finance ministers focused yesterday on details of “burden sharing” for banks that lent to Greece, no longer the most urgent matter. A summit of top EU officials ended with no hint of how the crisis could be contained.
“We’ve painted ourselves into a corner. At this point, either someone — Germany, the European Central Bank — has to fundamentally shift position or everything blows up,” an EU official told Reuters.
Berlin has resisted any move to buy or guarantee the bonds of distressed debtors, viewing it as a slippery slope towards a fiscal union and a breach of Germany’s Basic Law. The ECB in turn has refused to buy Spanish and Italian bonds, saying it is the task of EU governments.
The euro tumbled over two cents to under $1.40 against the US dollar. Gold rose to $1,556 an ounce on safe-haven flows. Italy’s stock market led the rout of global bourses, dropping 4 percent despite moves by the regulator Consob to curtail short-selling. Italian bank shares were pummelled again. Unicredit fell 6 percent, and Intesa SanPaulo fell 7 percent. London’s FTSE 100 fell 1 percent, while the Dow was off 1.3 percent in early trading.
Escalating woes in Italy and Spain raise the stakes dramatically. The pair have E6.3 trillion of total debts between them. Jean-Claude Trichet, the ECB president, said Europe is now at “the epicentre of a global problem.”
Yet EU attention remains focused on curbing the rating agencies, a campaign that is turning shrill. Viviane Reding, the EU Justice Commissioner, said the authorities must “smash the cartel of the three US rating agencies.” Fitch is, in fact, French-owned.
Barclays Capital said EU leaders must recognise that Greece is insolvent and prepare for an orderly debt restructuring, perhaps one that shares the pain between private creditors and the EU taxpayer and gives Greece a way out of its trap by easing the debt burden by 60 percent.
Such a move requires back-stop defences to prevent contagion, perhaps by using the EFSF bailout fund to shore up Club Med bond markets. The solution is elegant; what lacks is political will.
Gary Jenkins at Evolution Securities said the EU cannot keep stalling. Italy’s borrowing costs are ratcheting toward the fatal line of 7 percent. “It is worth remembering how quickly bond yields can get out of control by looking at what happened to Greek, Irish and Portuguese 10-year yields. What would keep me awake at night if I was a European finance minister is that we are only about 2 percent from potential disaster,” he said.
* * *
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Golden Phoenix Shareholder Conference Call To Discuss
Start of Gold Production at Mineral Ridge Gold Project
Company Press Release, June 27, 2011
SPARKS, Nevada — Golden Phoenix Minerals, Inc. (GPXM) has scheduled its second quarter 2011 shareholder conference call for Tuesday, July 12. Shareholders are invited to participate in the call, will begin at 1 p.m. Pacific and 4 p.m. Eastern time.
Company management will provide updates on accomplishments in the second quarter and explain how the company’s royalty mining growth strategy is expected to unfold in the second half of the year.
Topics to be updated include the start of gold production at Mineral Ridge, developments on the Vanderbilt Silver and Coyote Fault Gold projects, the Shining Tree and Peru projects, and drilling plans for 2011. Questions from shareholders will be answered as well.
“Thirteen months after closing the joint venture between Golden Phoenix and Scorpio Gold, the Mineral Ridge property has entered gold production,” said Tom Klein, CEO of Golden Phoenix. “Last week both companies completed joint tours of Mineral Ridge. We look forward to providing a complete update on our conference call.”
Participation in the shareholder conference call can be arranged by telephone, webcast, or Skype. To participate, dial 952-356-0015 and enter Conference ID 419582#.
For the company’s full press release, please visit:
Golden Phoenix (GPXM) is a U.S. mining company with international exposure to gold, silver, and strategic metals. The company’s business model combines project generation and royalty mining that offers the potential for exploration upside, coupled with the backing of production and future royalty streams. View company videos here: http://www.GoldenPhoenix.us
Read more at http://www.gata.org/node/10117
Consumer credit card debt rises, and this is supposed to be a good thing (via 100gf | Politics and Computers)Posted: July 11, 2011 | |
This mindset apparently didn’t take enough of a beating for the lesson to sink in. Ever since consumer debt became a component in the GNP, it seems that debt is the driving force in the U. S. economy. Wall St. responds very negatively to any actions adverse to the interest in buying U. S. debt. The only logical conclusion is that debt is a critical and strategic product and export of the United States. What was once known as criminal fraud is now accepted practice.
Remember that crippling financial crisis that was partly caused by high levels of consumer debt? Well it seems we're emerging from the worst of it. How do we know? Because consumer credit card debt is on the rise! Does it seem odd to you that one of the clearest sign that we're recovering from debt-fuelled catastrophe is the fact that debt is accumulating once again? If so, perhaps you share the opinion of those who believe that the 'recovery' pr … Read More
What Someone Else Wants
Why do we seem to be pushed, pulled, compelled, coerced, bribed and threatened into a system of revolving slavemasters? Is it that we secretly crave the opportunity to exert power over another human being, IF our turn comes? Could it be that we are just as corrupt as the people we resent?
It is very obvious that fiat currency systems are cycles of abuse. The effort that people make in defending their bankers, attorneys, financial advisors, and media analysts is truly amazing in it’s dedication. Regardless of the wrongs that are inflicted on people, they still love their abusers.
I remember an incident that took place, about 10 years ago. In the place where I got my coffee every morning, on my way to work, I had a thought. As I handed the cashier the paper note in tender of payment, I asked her.
“Do you know why this is worth something?”
Her answer was, “No. Why?”
I replied, “It is worth something because you believe it is. You gave me something real, a cup of coffee, in exchange for debt that you and everyone else promised to repay to a private bank. When these notes are used, the user is borrowing debt.”
If I knew this, 10 years ago, why doesn’t everyone else know it, today? If you could go back in time and show Christopher Columbus a “$?” 100 Federal Reserve note, he wouldn’t know what it was or where it came from. You would have to admit that it wasn’t anything but paper, in his day. You would have a very rough time with the authorities of that day, obviously acting as an agent of a foreign power that doesn’t exist yet. You would know that Columbus wouldn’t sell you a rowboat for a wheelbarrow of FRNs.
In this phase of the currency collapse, everyone is expected to grab a bucket and start bailing. If you are in an ocean of debt, you can’t stay afloat with the Federal Reserve and the U. S. Treasury producing and taking on more debt than you can keep up with. Abdication of conscience leads to exactly what we don’t want.
Where is it?
My Tag Universe
- Carmen Pittman Tazed While Peacefully Protesting Foreclosures at The Department of Justice May 21, 2013An OOHA resident fighter, Carmen Pittman, was tazed and violently arrested this morning while peacefully protesting at the Department of Justice. She was there with others demanding that Eric Holder and the DOJ prosecute and jail bankers for their economy-crashing crimes. Here’s more on Carmen’s story: http://occupyourhomesatl.org/pittman-family-claims-victo […]4closureFraud