money under a scheme of deceit and fraud. First sell the bonds and
collect the money into a pool. Second take your fees, third take what’s
left and get it committed into “loans” (which were in actuality
securities) sold to homeowners under the same false pretenses as the
bonds were sold to investors. By controlling the flow of funds and
documentation, the middlemen were able to sell, pledge and otherwise
trade off the flow of receivables several times over — a necessary
complexity not only for the profit it generated, but to make it far more
difficult for anyone to track the footprints in the sand.
If the loans had actually been securitized, the issue would not arise. They were not securitized. This
was a mass illusion or hallucination induced by Wall Street spiking the
punch bowl. The gap (second tier yield spread premium) created between
the amount of money funded by investors and the amount of money actually
deployed into “loans” was so large that it could not be justified as
fees. It was profit on sale from the aggregator to the “trust” (special
purpose vehicle). It was undisclosed, deceitful and fraudulent.
Thus
the “credit enhancement” scenario with tranches, credit default swaps
and insurance had to be created so that it appeared that the gap was
covered. But that could only work if
the parties to those contracts claimed to have the loans. And since
multiple parties were making the same claim in these side contracts and
guarantees, counter-party agreements etc. the actual documents could not
be allowed to appear nor even be created unless and until it was the
end of the road in an evidential hearing in court. They used when
necessary “copies” that were in fact fabricated (counterfeited) as
needed to suit the occasion. You end up with lawyers arriving in
court with the “original” note signed in blue (for the desired effect on
the Judge) when it was signed in black — but the lawyer didn’t know
that. The actual original is either destroyed (see Katherine Porter’s
2007 study) or “lost.” In this case “lost” doesn’t mean really lost. It
means that if they really must come up with something they will call an
original they will do so.
So the reason why the paperwork is all
out of order is that there was no paperwork. There only entries on
databases and spreadsheets. The
loans were not in actuality assigned to any one particular trust or any
one particular bond or any one particular individual or group of
investors. They were “allocated” as receivables multiple times to
multiple parties usually to an extent in excess of the nominal
receivable itself. This is why the servicers keep paying on loans
that are being declared in default. The essential component of every
loan that was never revealed to either the lenders (investors) nor the
borrowers (homeowner/investors) was the addition of co-obligors and
terms that neither the investor nor the borrower knew anything about.
The “insurance” and other enhancements were actually cover for the
intermediaries who had no money at risk in the loans, but for the
potential liability for defrauding the lenders and borrowers.
The result, as anyone can plainly see, is that the typical Ponzi outcome — heads I win, tails you lose.
***
So
the paperwork was carefully created and crafted to cover the tracks of
theft. Most of the securitization paperwork remains buried such that it
takes search services to reach any of them. The documents that were
needed to record title and encumbrances was finessed so that they could
keep their options open when someone made demand for actual proof. The
documents were not messed up and neither was the processing. They were
just keeping their options open, so like the salad oil scandal, they
could fill the tank that someone wanted to look into.
Folks, check this out!
http://www.usagold.com/goldtrail/archives/another1.html
ANOTHER ( THOUGHTS! ) ID#60253:
All: I ask you, why did the world go off the gold standard in the early 70s? You have an answer, yes? For all the problems this created, could the countries not just revalue gold upward, to say $300 ( back then ) ? What was the real reason the world entered a period of "freely traded" "managed gold"? "
This question has more impact on the gold market of today than it did then! In days past, it was held as good knowledge that the US stopped gold backing to protect the dollar and keep gold from leaving to other shores.
But, in the same time frame, all central banks did sell gold to all persons, even the US. All treasuries held gold and dollars as reserves. To what end did the world financial system gain with the dollar off gold backing, and then allowed to "dirty float" against all currencies? Would the world not have been better off to find gold revalued to, say $300 and then begin a "dirty float"? Noone would have lost, and the inflation would have , at best, not have been worse!
Truly, I tell the reason for this action. The US oil companies knew that the cheap reserves were found. The governments knew this also. The only low cost oil reserves in the world at this time were in the Middle East, and their cost to find and produce was very low. It was known, that, in time, ALL oil would come from this land. As much higher US dollar prices were needed to allow exploration and production of other reserves, worldwide. But, how to get crude prices, up, when the Gulf States were OK to pump and produce in exchange for "gold backed dollars"? I will not name the gentlemen that brought this thinking to the surface in that era, but it was discussed. It was known that oil liked gold. It was known that "local oil" would be used up without higher prices. What if, the US dollar was taken off the gold standard, and gold was managed "upward" to say, $208 per ounce? The dynamics of the market would force oil to rise and allow for much needed capital to search for the higher priced oil that was known to exist! The producers would find shelter in gold even as the price of oil was increased in terms of a now "non gold dollar"! Price inflation would rise, but gold and oil would also increase. The dollar would continue to be used as the only payment for oil, and in doing so replace gold as the backing for this "reserve currency". All would be fair.
The war in 1973 and the Iran problem did make markets "overshoot", but all did work to the correct end. The result was "a needed higher price for a commodity that was, as reserves, in much over supply by the wrong countries"! It was known that the public would never have accepted this "proposition" as fair. To this end, we have come.
Small Business <b>News</b>: Social Media Secrets
Pssst. We've got something important to tell you about a new tool that can totally transform your business. In terms of upfront investment, there is no cost,
Lujiazui Breakfast: <b>News</b> And Views About China Stocks (Oct. 27 <b>...</b>
Investors and traders in China's main financial district are talking about the following before the start of trade today: Shares in automaker Hong Kong-listed BYD tanked by 9% after the company said profit fell by 99% in the third ...
Telefuture | Old <b>News</b> Report | TVs Merging with Computers | Mediaite
Well, print media, you were warned. A 30 year old news report from NBC news, archived by Vortex Technology, discusses the future of television in a segment creatively entitled Telefuture. In it, they spend a lof of time examining the ...
bench craft company complaints
bench craft company complaints
Small Business <b>News</b>: Social Media Secrets
Pssst. We've got something important to tell you about a new tool that can totally transform your business. In terms of upfront investment, there is no cost,
Lujiazui Breakfast: <b>News</b> And Views About China Stocks (Oct. 27 <b>...</b>
Investors and traders in China's main financial district are talking about the following before the start of trade today: Shares in automaker Hong Kong-listed BYD tanked by 9% after the company said profit fell by 99% in the third ...
Telefuture | Old <b>News</b> Report | TVs Merging with Computers | Mediaite
Well, print media, you were warned. A 30 year old news report from NBC news, archived by Vortex Technology, discusses the future of television in a segment creatively entitled Telefuture. In it, they spend a lof of time examining the ...
bench craft company complaints bench craft company complaints
The game was to move
money under a scheme of deceit and fraud. First sell the bonds and
collect the money into a pool. Second take your fees, third take what’s
left and get it committed into “loans” (which were in actuality
securities) sold to homeowners under the same false pretenses as the
bonds were sold to investors. By controlling the flow of funds and
documentation, the middlemen were able to sell, pledge and otherwise
trade off the flow of receivables several times over — a necessary
complexity not only for the profit it generated, but to make it far more
difficult for anyone to track the footprints in the sand.
If the loans had actually been securitized, the issue would not arise. They were not securitized. This
was a mass illusion or hallucination induced by Wall Street spiking the
punch bowl. The gap (second tier yield spread premium) created between
the amount of money funded by investors and the amount of money actually
deployed into “loans” was so large that it could not be justified as
fees. It was profit on sale from the aggregator to the “trust” (special
purpose vehicle). It was undisclosed, deceitful and fraudulent.
Thus
the “credit enhancement” scenario with tranches, credit default swaps
and insurance had to be created so that it appeared that the gap was
covered. But that could only work if
the parties to those contracts claimed to have the loans. And since
multiple parties were making the same claim in these side contracts and
guarantees, counter-party agreements etc. the actual documents could not
be allowed to appear nor even be created unless and until it was the
end of the road in an evidential hearing in court. They used when
necessary “copies” that were in fact fabricated (counterfeited) as
needed to suit the occasion. You end up with lawyers arriving in
court with the “original” note signed in blue (for the desired effect on
the Judge) when it was signed in black — but the lawyer didn’t know
that. The actual original is either destroyed (see Katherine Porter’s
2007 study) or “lost.” In this case “lost” doesn’t mean really lost. It
means that if they really must come up with something they will call an
original they will do so.
So the reason why the paperwork is all
out of order is that there was no paperwork. There only entries on
databases and spreadsheets. The
loans were not in actuality assigned to any one particular trust or any
one particular bond or any one particular individual or group of
investors. They were “allocated” as receivables multiple times to
multiple parties usually to an extent in excess of the nominal
receivable itself. This is why the servicers keep paying on loans
that are being declared in default. The essential component of every
loan that was never revealed to either the lenders (investors) nor the
borrowers (homeowner/investors) was the addition of co-obligors and
terms that neither the investor nor the borrower knew anything about.
The “insurance” and other enhancements were actually cover for the
intermediaries who had no money at risk in the loans, but for the
potential liability for defrauding the lenders and borrowers.
The result, as anyone can plainly see, is that the typical Ponzi outcome — heads I win, tails you lose.
***
So
the paperwork was carefully created and crafted to cover the tracks of
theft. Most of the securitization paperwork remains buried such that it
takes search services to reach any of them. The documents that were
needed to record title and encumbrances was finessed so that they could
keep their options open when someone made demand for actual proof. The
documents were not messed up and neither was the processing. They were
just keeping their options open, so like the salad oil scandal, they
could fill the tank that someone wanted to look into.
Folks, check this out!
http://www.usagold.com/goldtrail/archives/another1.html
ANOTHER ( THOUGHTS! ) ID#60253:
All: I ask you, why did the world go off the gold standard in the early 70s? You have an answer, yes? For all the problems this created, could the countries not just revalue gold upward, to say $300 ( back then ) ? What was the real reason the world entered a period of "freely traded" "managed gold"? "
This question has more impact on the gold market of today than it did then! In days past, it was held as good knowledge that the US stopped gold backing to protect the dollar and keep gold from leaving to other shores.
But, in the same time frame, all central banks did sell gold to all persons, even the US. All treasuries held gold and dollars as reserves. To what end did the world financial system gain with the dollar off gold backing, and then allowed to "dirty float" against all currencies? Would the world not have been better off to find gold revalued to, say $300 and then begin a "dirty float"? Noone would have lost, and the inflation would have , at best, not have been worse!
Truly, I tell the reason for this action. The US oil companies knew that the cheap reserves were found. The governments knew this also. The only low cost oil reserves in the world at this time were in the Middle East, and their cost to find and produce was very low. It was known, that, in time, ALL oil would come from this land. As much higher US dollar prices were needed to allow exploration and production of other reserves, worldwide. But, how to get crude prices, up, when the Gulf States were OK to pump and produce in exchange for "gold backed dollars"? I will not name the gentlemen that brought this thinking to the surface in that era, but it was discussed. It was known that oil liked gold. It was known that "local oil" would be used up without higher prices. What if, the US dollar was taken off the gold standard, and gold was managed "upward" to say, $208 per ounce? The dynamics of the market would force oil to rise and allow for much needed capital to search for the higher priced oil that was known to exist! The producers would find shelter in gold even as the price of oil was increased in terms of a now "non gold dollar"! Price inflation would rise, but gold and oil would also increase. The dollar would continue to be used as the only payment for oil, and in doing so replace gold as the backing for this "reserve currency". All would be fair.
The war in 1973 and the Iran problem did make markets "overshoot", but all did work to the correct end. The result was "a needed higher price for a commodity that was, as reserves, in much over supply by the wrong countries"! It was known that the public would never have accepted this "proposition" as fair. To this end, we have come.
bench craft company complaints
Small Business <b>News</b>: Social Media Secrets
Pssst. We've got something important to tell you about a new tool that can totally transform your business. In terms of upfront investment, there is no cost,
Lujiazui Breakfast: <b>News</b> And Views About China Stocks (Oct. 27 <b>...</b>
Investors and traders in China's main financial district are talking about the following before the start of trade today: Shares in automaker Hong Kong-listed BYD tanked by 9% after the company said profit fell by 99% in the third ...
Telefuture | Old <b>News</b> Report | TVs Merging with Computers | Mediaite
Well, print media, you were warned. A 30 year old news report from NBC news, archived by Vortex Technology, discusses the future of television in a segment creatively entitled Telefuture. In it, they spend a lof of time examining the ...
bench craft company complaints bench craft company complaints
Small Business <b>News</b>: Social Media Secrets
Pssst. We've got something important to tell you about a new tool that can totally transform your business. In terms of upfront investment, there is no cost,
Lujiazui Breakfast: <b>News</b> And Views About China Stocks (Oct. 27 <b>...</b>
Investors and traders in China's main financial district are talking about the following before the start of trade today: Shares in automaker Hong Kong-listed BYD tanked by 9% after the company said profit fell by 99% in the third ...
Telefuture | Old <b>News</b> Report | TVs Merging with Computers | Mediaite
Well, print media, you were warned. A 30 year old news report from NBC news, archived by Vortex Technology, discusses the future of television in a segment creatively entitled Telefuture. In it, they spend a lof of time examining the ...
bench craft company complaints bench craft company complaints
Small Business <b>News</b>: Social Media Secrets
Pssst. We've got something important to tell you about a new tool that can totally transform your business. In terms of upfront investment, there is no cost,
Lujiazui Breakfast: <b>News</b> And Views About China Stocks (Oct. 27 <b>...</b>
Investors and traders in China's main financial district are talking about the following before the start of trade today: Shares in automaker Hong Kong-listed BYD tanked by 9% after the company said profit fell by 99% in the third ...
Telefuture | Old <b>News</b> Report | TVs Merging with Computers | Mediaite
Well, print media, you were warned. A 30 year old news report from NBC news, archived by Vortex Technology, discusses the future of television in a segment creatively entitled Telefuture. In it, they spend a lof of time examining the ...
bench craft company complaints bench craft company complaints
No comments:
Post a Comment