Wednesday, November 30, 2016

BLOG #7: During this time of raging issues over racism, fanatically based appointments, and ridiculous claims to be "helping" Americans, it is imperative that we, as Americans, understand how we got here, and how Donald Trump with Stephen Bannon's ruling him, has brought future disasters upon our nation. He has appointed a Bank thief at Treasury, a medical care opponent at Health, a completely and uneducated person at Education, and the list goes on. Here is what you need to know. This is a revival of the Civil War that was never won and never lost. President Lincoln was killed by Northerners who acted at the direction of the Secretary of War, Edwin Stanton. His group of fanatic Southern haters wanted Lincoln dead, because of his kind and generous expectations for after the war. The fanatics who killed Lincoln instituted a vicious and ugly Reconstruction for the ten years after the war which denied White Southerners the vote. The this was stopped in 1877, and the South was allowed to reek vengeance on every Black person living in the South. Those who escaped have experienced for 150 years WORSE racism than they experienced in the South according to Martin Luther King in 1967. So, the Civil War was NOT about slavery, for at no time did the North ever do anything of substance for the Black American diaspora, and Mr. Trump has capitalized on that hatred and with with Alt Right Nazi's won the Presidency. Read this:

Reconstruction

Lincoln's Plan

Even before the war ended, President Lincoln began the task of restoration. Motivated by a desire to build a strong Republican party in the South and to end the bitterness engendered by war, he issued (Dec. 8, 1863) a proclamation of amnesty and reconstruction for those areas of the Confederacy occupied by Union armies. It offered pardon, with certain exceptions, to any Confederate who would swear to support the Constitution and the Union. Once a group in any conquered state equal in number to one tenth of that state's total vote in the presidential election of 1860 took the prescribed oath and organized a government that abolished slavery, he would grant that government executive recognition.
Lincoln's plan aroused the sharp opposition of the radicals in Congress, who believed it would simply restore to power the old planter aristocracy. They passed (July, 1864) the Wade-Davis Bill, which required 50% of a state's male voters to take an "ironclad" oath that they had never voluntarily supported the Confederacy. Lincoln's pocket veto kept the Wade-Davis Bill from becoming law, and he implemented his own plan. By the end of the war it had been tried, not too successfully, in Louisiana, Arkansas, Tennessee, and Virginia. Congress, however, refused to seat the Senators and Representatives elected from those states, and by the time of Lincoln's assassination the President and Congress were at a stalemate.

Thursday, November 17, 2016

Blog #6: I may have mentioned this before, but I think it needs to be said again. Donald Trump and Stephen Bannon triggered what will grow into a race war. Every time Trump stated that he dos not know, or would repudiate, or had never heard of David Duke and White Supremacy were all lies. In fact, every time he said those words, every racist in this country knew that a new era had opened. If anyone really took the time to see what Bannon has been doing of the past 25 years, you would know that he is irrational, crazy, and believes that all women should be at home as homemakers. He admits that the Alt Right has racists and Jew haters. He wants to literally tear down everything in America that does not help to create the white male dominated 1950s. They support the self-deportation of all non-Europeans from the country This is the holocaust for ALL Americans, There is no way anyone can give these insane racists a chance. More to come later...I will post this on my real Blog: Progressiveliberaltruths,blogspot.com

Sunday, January 26, 2014

What Happened to the American Dream: 
How the banks destroyed America

People have failed to accurately describe what happened since the repeal of the Glass/Steagall Act. It created Credit Default Swap Bonds. They are a fictional financial concept of selling "insurance" to wealthy investors to pay them $30 for every dollar that the investor "insurance" that the investor buys. It is fictional because they were modeled after municipal bonds which paid off ONLY IF THE CITY WENT INTO BANKRUPTCY. When these bonds we're conceived, the idea of a city going bankrupt was inconceivable. The taking down of the wall between savings and investment banking created the situation where ten million mortgages were used to create "mortgage backed" securities (stocks). What no one want you to know is that ALL these mortgages went to 13% after two years, and everybody, every institution, every mortgage officer, every bank KNEW that they were all (so far, 95%) into foreclosure. Millions lost billions invested in the stocks backed by these fraudulent mortgages. BUT.....Credit Default Swap Bond holders have been paid out over 45 TRILLION DOLLARS!! The only way to understand this is if you ca see what this theft was equal to. It is equal to the destruction of our nation from a foreign invasion that stole all of the money in all of our banks. To add to this destruction, the banks got the Federal Reserve to use 85 billion/month to buy these losses from the banks. Those "purchases" of bad investments has been called a "STIMULUS" to the economy, and every financial reporter in the nation has reported that NONE of that money has reached American businesses. Al Lewis, in the Wall Street Journal wrote that these trillions will be used for large leveraged buy outs over the next 18 months, for a consolidation of corporation control of America. We lost the American Dream to thieves, liars, and corporate pirates. It is time that someone told us the truth--our nation is not owned by Americans anymore. We are a mere moribund relic which will have a 45% poverty rate by 2020.

Tuesday, January 1, 2013

Here is a copy of recently Letter to the Editor of the  in September 2012.  After my pst are two VERY imporatnt artcles added to help explain what I have written:


How Credit Default Swap Bonds Caused the American Fiscal Disaster, and Why?

Introduction

Here is an essay which I hope will help you to understand the financial crisis here in the USA I wrote it for the editor of the Providence Journal.  I had sent it to the paper several times, but he never saw it.  Finally, after a few phone messages, he asked me to send it directly to him. The point o the essay is that the fiscal crisis was a plan to move trillions of dollars out of our economy and into the hands of about 25,000 people I am not going to edit it now, but if I did, I would add the following two points. 

1)  Last week, the government of Italy had to deal with a terrible crisis created by London Banks through the sale of Credit Default Swap Bonds--the key to what happened in the US starting 13 years ago.

2)  Al Lewis reported two weeks ago that Fed Chairman Bernanke testified to Congress that the Fed was going to spend 40 Billion dollars a month to buy up all the bad mortgages that banks created and are still holding.  This is big news.  He also reported on the fact that the Obama administration had decided not to follow up on any of the illegal back practices of the past decade. 

There are two people who do agree with my analysis of Credit Default Swap Bonds: Mr. Anthony Santa Barbara and President Obama.

Mr. Santa Barbara confirmed everything in this essay, and agreed that the CDSB were tested with Enron.  So, buyers of these bonds at that time knew that Enron was going to crash—therefore, they made $30 for every $1 they invested in CDSBs backed by Enron stock.  That is when the flow of trillions of dollars started to leave our economy and go into he hands of CDSB holders.

President Obama made a specific reference to these Bonds during his first press conference, and here is what he said:
QUESTION: Thank you, Mr. President. In your opening remarks, you talked about that if your plan works the way you want it to work, it's going to increase consumer spending. But isn't consumer spending, or over-spending, how we got into this mess? And if people get money back into their pockets, do you not want them saving it or paying down debt first, before they start spending money into the economy?
MR. OBAMA: Well, first of all, I don't think it's accurate to say that consumer spending got us into this mess. What got us into this mess initially were banks taking exorbitant, wild risks with other people's monies, based on shaky assets. And because of the enormous leverage, where they had $1 worth of assets and they were betting $30 on that $1, what we had was a crisis in the financial system.
Finally, to truly understand my work, you have to Undset and Credit Default Swap Bonds.  Here is an article that Janet Morrissey wrote for Time Magazine in March of 2008.  It puts things in perspective, so you can understand better what I am trying to say.
So, without any more introductions, here is the essay that I tried to get to you since
January.\

Well, here is the essay.  I hope you enjoy it.

Sixty Minutes did an article about the foreclosure crisis which did more to hide the truth than it told.  This article does not tell the whole truth. These foreclosures were part of a three part plan to shift the future of America I have coined the phrase THE NEW URBAN RENEWAL to name this Plan.

Plan Step #1:  To move about 50 to 75 trillion dollars from our economy to the hands of very few.  First, please read Time Magazine for March of 2008 article by Janet Morrissey about Credit Default Swap Bonds. It explains that millions of sub-prime mortgages were designed to go up to 13% after two years.  The stocks backed by these mortgages would lose ALL their investors their money.  The Credit Default Bonds, as Morrissey writes, were based on the possibility of the stocks backed by the mortgages would go bad.  They were modeled after municipal bonds which are guaranteed and insured.  So, if a city goes bankrupt the Bond holders would have to be paid and would have to be paid at thirty times what they invested.  This means that the trillions of dollars paid out by the Bond writers, which almost put AIG and all the other collaborators out of business.  The amount of money shifted out of our economy represents the largest theft in the history of the world.  That money will NEVER come back to America Hedge funds buying Bonds to save Greece in the first round last year were guaranteed an 18% return—what investment in ANY American business will ever be able to pay those returns?  Right now, hedge funds control every Cocoa crop in the work for the next ten years.

The impact over the world, all the bad mortgages backed stocks that the makers knew were going to go bad, cost stock holders all over the world billions. s failing. For every dollar invested in CDBS pays the holder 30-40 dollars. That means that a foreclosure of a $100,000 pays the CDNS holder $3,000,000. President Obama mentions this is his first Press Conference, but no one has reported on it except Morrissey. This process has not been stopped and its aims have been accomplished

Plan Step #2     To demolish and clear the thousands of acres of “Red-Lined” neighborhoods (Slums) to create, for banks, the largest land sell off in the history of the world.  Since American investors know that they make little or nothing investing in American real estate, most of these acres will be sold to cash rich world citizens who need a safe and secure country to live and prosper.  This will be their home while their own countries fall into chaos, oppression, and revolutions.  The failed Lee-Schumer bill is the best example of this plan.  The bill would have given almost unlimited visas to people from foreign countries who bought houses here for $500,000 or more with cash.  The bill failed, but be assured; there are twenty other bills that you will not hear about that will accomplish the same purpose.  This is at a time in our history when National Public Broadcasting’s show Need to Know reported last week that 33% of Americans are now living at or below the poverty level.  Will this plan change that?  No.  Is it too late to change it?  I think it is.

Plan Step #3    

The Third steps in this plan cover the obvious and less obvious.  In fact, we can really only speculate on what dimensions of our current reality were part of the initial plan.  I can only speculate on some of these last aspects of the Banking/Wall Street Financial Plan for America initiated as I described in 1998 to 1999. 

1)    The first result is that acres and acres of urban slums are now wastelands.  The CBS show discussed the demolition of homes, and the landscaping of the lots with grasslands.  These “open spaces” still have a tiny number of homes still standing, but the homeowners are not paying their mortgages, and expect to be evicted at some point in the future.   This land represents billions of dollars of potential income for the banks that have ended up owning them.  Here are the possibilities that I have read about:
a)    The Congress almost passed a Bill that would have given almost free visas to foreign buyers who bought homes in the United States for $ 500,000 or more, and that paid cash for the homes.  The bill did not pass, but the banks do have lines forming form wealthy foreigners to move here—especially from countries where the governments are drifting towards anarchy.
b)   Our inner cities are dying, these acres of land will provide excellent open space for commercial and industrial construction.
c)    Five years ago, NPR reported that 63% of Americans lived in gated or “sealed” communities with no access to public streets.  These acres of land will provide developers with “virgin” land to develop “closed cities” where the concept of open governance will not be tolerated, and corporations will provide all the structures that the citizens need—from schools to hospitals to police and lot more.

2)    The concentration of wealth gives hedge fund managers assets to control future commodity markets that shut out competition and normal market limitations on risk and control.   A year ago, it was reported in the news that hedge funds owned all the futures on cocoa beans for the next ten years.  This means that the funds will control the coat of chocolate for the next ten years, and most likely forever, because their funds continue to grow daily.  Payments to Credit Default Swap Bond holders have not stopped. and will not stop. They are not going to be stopped, and below is an article that describes the Department of Justice reluctance to do anything about correcting these derivatives or punish Wall Street for creating them.  My guess is that a massive amount of wealth in these funds “buys” anyone—Democrat, Republican. President or Senator. 

3)    The last possible area of the use of these massive assets has much more sinister goals.  Some writers think that the money will create “private” armies both in the United States and thereabout the world.  For instance, hedge funds have been involved in creating mercenaries groups used by the United States to protect American embassies.  MPR reported that the American Embassy in Iraq has 16,000 employees:  11, 000 with the Embassy, and 5,000 paid military personnel from a private contractors.  Within the United States, Chuck Norris (Not a politician, but an “entertainers’”) said that there were over 1,000 militias armed and ready to be mobilized in case a national “crisis”.  With what we have seen owned by individuals, we can speculate without a doubt that we are talking about thousands of weapons and millions of rounds of ammunition.  This is the one goal that I know the least about.

In conclusion, the plans laid by billionaires in America in 1998-19999 have succeeded.  83% of our wealth goes to the top 1%, and there is nothing we can do about it. (Onpoint Radio report).  I am not the only writer who sees this.  See the attached article by Dylan Ratigan.  He states that the plan actually took out “hundreds of trillions” of dollars out of our economy.  The 75 trillion coming out of the fraud sub-prime mortgage plan was just part of a much larger and extremely successful plan that will change our future for decades to come.  It will be up to you, now, to see if it can be reversed.



Credit Default Swaps: The Next Crisis?

By Janet Morrissey Time Magazine Monday, Mach. 17, 2008

 

Read More: http://www.time.com/time/business/article/0,8599,1723152,00.html#ixzz22yVfGSCc

 As Bear Stearns careened toward its eventual fire sale to JPMorgan Chase last weekend, the cost of protecting its debt, through an instrument called a credit default swap, began to rise rapidly as investors feared that Bear would not be good for the money it promised on its bonds. Not familiar with credit default swaps? Well, we didn't know much about collateralized debt obligations (CDOs) either — until they began to undermine the economy. Credit default swaps, once an obscure financial instrument for banks and bondholders, could soon become the eye of the credit hurricane. Fun, huh?
The CDS market exploded over the past decade to more than $45 trillion in mid-2007, according to the International Swaps and Derivatives Association. This is roughly twice the size of the U.S. stock market (which is valued at about $22 trillion and falling) and far exceeds the $7.1 trillion mortgage market and $4.4 trillion U.S. treasuries market, notes Harvey Miller, senior partner at Weil, Gotshal & Manges. "It could be another — I hate to use the expression — nail in the coffin," said Miller, when referring to how this troubled CDS market could impact the country's credit crisis.
Credit default swaps are insurance-like contracts that promise to cover losses on certain securities in the event of a default. They typically apply to municipal bonds, corporate debt and mortgage securities and are sold by banks, hedge funds and others. The buyer of the credit default insurance pays premiums over a period of time in return for peace of mind, knowing that losses will be covered if a default happens. It's supposed to work similarly to someone taking out home insurance to protect against losses from fire and theft.
Except that it doesn't. Banks and insurance companies are regulated; the credit swaps market is not. As a result, contracts can be traded — or swapped — from investor to investor without anyone overseeing the trades to ensure the buyer has the resources to cover the losses if the security defaults. The instruments can be bought and sold from both ends — the insured and the insurer.
All of this makes it tough for banks to value the insurance contracts and the securities on their books. And it comes at a time when banks are already reeling from write-downs on mortgage-related securities. "These are the same institutions that themselves have either directly or through subsidiaries invested in the subprime market," said Andrea Pincus, partner at Reed Smith LLP. "They're suffering losses all over the place," and now they face potentially more losses from the CDS market.
Indeed, commercial banks are among the most active in this market, with the top 25 banks holding more than $13 trillion in credit default swaps — where they acted as either the insured or insurer — at the end of the third quarter of 2007, according to the Comptroller of the Currency, a federal banking regulator. JP Morgan Chase, Citibank, Bank of America and Wachovia were ranked among the top four most active, it said.
Credit default swaps were seen as easy money for banks when they were first launched more than a decade ago. Reason? The economy was booming and corporate defaults were few back then, making the swaps a low-risk way to collect premiums and earn extra cash. The swaps focused primarily on municipal bonds and corporate debt in the 1990s, not on structured finance securities. Investors flocked to the swaps in the belief that big corporations would seldom go bust in such flourishing economic times.
The CDS market then expanded into structured finance, such as CDOs, that contained pools of mortgages. It also exploded into the secondary market, where speculative investors, hedge funds and others would buy and sell CDS instruments from the sidelines without having any direct relationship with the underlying investment. "They're betting on whether the investments will succeed or fail," said Pincus. "It's like betting on a sports event. The game is being played and you're not playing in the game, but people all over the country are betting on the outcome."
But as the economy soured and the subprime credit crunch began expanding into other credit areas over the past year, CDS investors became jittery. They wondered if the parties holding the CDS insurance after multiple trades would have the financial wherewithal to pay up in the event of mass defaults. "In the past six to eight months, there's been a deterioration in market liquidity and the ability to get willing buyers for structured finance securities," causing the values of the securities to fall, said Glenn Arden, a partner at Jones Day who heads up the firm's worldwide securitization practice and New York derivative.
The situation is already taking a toll on insurers, who have been forced to write down the value of their CDS portfolios. American International Group, the world's largest insurer, recently reported the biggest loss in the company's history largely due to an $11 billion writedown on its CDS holdings. Even Swiss Reinsurance Co., the industry's largest reinsurer, took CDS writedowns in the fourth quarter and warned of more to come in the first quarter of 2008.
Monoline bond insurance companies, such as MBIA and Ambac Financial Group Inc., have been hit the hardest as they scramble to raise capital to cover possible defaults and to stave off a downgrade from the ratings agencies. It was this group's foray out of its traditional municipal bonds and into mortgage-backed securities that caused the turmoil. A rating downgrade of the monoline companies could be devastating for banks and others who bought insurance protection from them to cover their corporate bond exposure.
The situation is exacerbated by the heavy trading volume of the instruments, the secrecy surrounding the trades, and — most importantly — the lack of regulation in this insurance contract business. "An original CDS can go through 15 or 20 trades," said Miller. "So when a default occurs, the so-called insured party or hedged party doesn't know who's responsible for making up the default and if that end player has the resources to cure the default."
Prakash Shimpi, managing principal at Towers Perrin, downplays this risk, noting that contractual law requires both parties to inform and get approval from the other before selling the CDS policy to someone else. "These transactions don't take place on a handshake," he said. Still, being unregulated, there is no standard contract, no standard capital requirements, and no standard way of valuating securities in these transactions. As a result, Pincus said she wouldn't be surprised to see a surge in litigation as defaults start happening. "There's a lot of outcry right now for more regulation and more transparency," said Pincus.
A meltdown in the CDS market has potentially even wider ramifications nationwide than the subprime crisis. If bond insurance disappears or becomes too costly, lenders will become even more cautious about making loans, and this could impact everyone from mortgage-seekers to municipalities that need money to fix roads and build schools. "We're seeing players in all of those spaces being more circumspect about whose credit they're going to guarantee and what exactly the credit obligation is," said Ellen Marshall, partner at Manatt, Phelps & Phillips LLP.
Shimpi admits a meltdown or even a slowdown in the CDS market would affect the amount and cost of liquidity in the market. However, he dismisses concerns that municipalities and others seeking capital could be left in the dust. "Even if the U.S. takes a hit, there are other markets in the world that have different dynamics, and capital flows are international," he said.
Still, most agree the potential repercussions are far-reaching. "It's the ripple effects, the domino effects" that are worrisome, said Pincus. "I think it's [going to be] one of the next shoes to fall" in the credit crisis. Miller said the subprime debacle, rising unemployment, record-high oil prices, and now CDS market troubles "have all the makings of the perfect storm.... There are some economists who say this could be another 1929 — but I don't believe it," he said. "We have a lot of safeguards built into the system that did not exist in 1929 and 1930." None of them, though, are directly targeted at CDS. On Wall Street, innovators are always ahead of regulators. And that can sometimes have a very steep price.


Saturday, September 1, 2012


·                                 I’m a bit concerned about these Occupy Boston, Providence, etc. Could this be the beginning of a Communist movement? Spread the wealth! If they were smart enough to make it....and companies willing to pay them, what is wrong with that? Can someone enlighten me please.....?
Marc W. Kohler Tony, it's easy. The financial crisis was started years ago, when the Federal Reserve was created. In 1999, the repeal of Glass–Steagall Act - made the wall between investment and saving banks disappear... We forget the FDR, in order to get Glass-Stengall passed; the banking industry insisted that thousands of acres of urban real estate could NEVER have a homeowner mortgage. . The areas were created by drawing red lines around them with a red pen. This is now called "red-lining". This made EVERY house within red lined area could be sold for CASH only. The homes were depreciated in the hundreds of thousands of dollars, and a whole new class of absentee lord lords became one of the most import social forces in America’s fiscal policy. They could be sold for CASH ONLY. A whole new class of American absentee landlords was crated. The massive depreciation of these red-lined areas caused a second depression--one that was allowed to run until red-lining was outlawed in the 1970s, but by then, it was much too late. Every city in America had thousands of worthless acres that became slums due to the lack of even the possibility of personal ownership of the houses in those neighborhoods. When section 8 housing came along to "solve" the problem, did not. In fact, about then years ago Former Governor Philip Noel called Section 8 housing laws gave him the feeling of "laughing all the Way to the Bank". Section 8 gave the landlord 3 times what the poor could afford--mostly welfare--so deferral and state


money made millionaires out of many, many Rhode Islanders. They and their children now live in East Greenwich, Little Compton, Barrington, and other rich neighbors. Medicare, farm subsidies, welfare, the FDA, the Federal military, Oil Industry policies. Social Security has created millionaires every step along the way—that was a NECESSARY cost of created ANY social improvement in America. One of the most well known samples of this was the Presidential Candidate Ross Perot—a man who made million and millions of dollars automating and printing Social Security checks. I do say, thank God for him, for without him, the Republican juggernaut started with Eisenhower. Enhanced by Reagan, and culminating in the war deficit mad George Bush 43. See next post fro details as to home the current crisis was both the goal and the conclusion of this history—only now was have reached the point, that changing it is most likely pointless—that the Occupy movement, Tony, is too littler, and much to late. The trillionaires do not need people or citizens, and even the very concept of a nation state called the United Sates of America. The world will grow into consumers that will leave Americans insignificant to the creation of greater profits. If you invested in the original Greek Bonds a year ago, you were guaranteed an 18% return. The next round of bonds will pay more and guarantee the end of the nation of Greece as violence takes over social civility. I will post more next, but know that trillionaires can buy better armies and militias and than any nation can at this time. But, wait, more to come…
Joe DeLemos it seems to me they are "occupying" the wrong street. Government forces banks to lend to people who can’t pay back. They regulate and tax companies out of the country. Then blame everything on businesses. These people if they had half a brain should occupy Pennsylvania Ave not Wall St
Kenneth Watkinson Complicated problems will not be solved with simple solutions. End of cold war brought 2 billion people competing (Chinese) 2 tax cuts, 2 wars, equals deficits. Now greedy lobbyists drug companies. Look at your pay. Doesn’t it suck? I think its 4% of people own 60% wealth in this country. Some do it honestly. Not all. Do you think its fair for the elec company to own the Gas co? Is that fair?  If you cook the lobster slow after a while he doesn't know he's being cooked.
o                                                        Marc W. Kohler So, here is part two. First, to suggest that minimum wage laws sent jobs overseas is silly—no matter what has happened here, slaves will always be cheaper over seas. We don’t have too many slaves, but without regulation we have a lot fewer than we would have, and now that the economic basis for the world is trillionaires who owe no allegiance to any country. So, for Tony and the rest, I shall continue from my previous post. I have brought you through the consequences of the caste system started in the USA after the Depression. Yes, there was always rich and poor, but after the depression, FDR took the Progressive Platform of his cousins, Theodore Roosevelt. For that, you can go tohttp://www.pbs.org/wgbh/amex/presidents/26_t_roosevelt/psources/ps_trprogress.html.People call the Progressive Party, The Bull Moose Party. Theodore Roosevelt never really called the party that that. He was shot on October 13, 1912. Reports say that in the speech that night, people claim he said he survived because he must be “strong as bull moose.” That’s not true. Other people say he told a reporter that after he got out of the hospital, as an answer to a reporters question. That’s not true, either. The election was held 18 days after the shooting. So, the term Bull Moose came AFTER TR lost. TR NEVER dreamed that the name of the American Progressive Party would be the Bull Moose Party (which is what it did come to be known—lasting until about 1916. “Bull Moose” was really a term turned to destroy the Progressive movement and ridicule it. If you read their platform, you will find not only the seeds, but the roots and trunk of what America should be, could be, and would be if JFK, RFK and MLJ had not been murdered. Why do conservatives want Reagan on the dime instead of FDR is because they HATED him then. They HATE him now. And they will not be happy until everything TR, FDR, Truman, JFK tried to create are completely extinguished from the American horizon. We have stood by in silence while there campaign has. Think about how this hate war started. On the morning that Eisenhower was inaugurated, he and Mamie refused to get out of the limo to have tea with Bess and Harry. This had never happened in the history of the country. Harry could have just sat there waiting in Whitehouse…the insult (probably created by Allen Dulles or his brother John Foster Dulles). This will lead to Credit Default Swap Bonds in 1999, and that transferred trillions of dollars out of our economy. To understand the next post, it would be good for to you read the Credit 
Credit Default Swaps: The Next Crisis?
By JANET MORRISSEY 
TIME MAGAZINE Monday, Mar. 17, 2008

Sixty Minutes did an article about the foreclosure crisis which did more to hide the truth than it told.  This article does not tell the whole truth. These foreclosures were part of a three part plan to shift the future of America.  I have coined the phrase THE NEW URBAN RENEWAL to name this Plan.

Plan Step #1:  To move about 50 to 75 trillion dollars from our economy to the hands of very few.  First, please read Time Magazine for March of 2008 article by Janet Morrissey about Credit Default Swap Bonds. It explains that millions of sub-prime mortgages were designed to go up to 13% after two years.  The stocks backed by these mortgages would lose ALL their investors their money.  The Credit Default Bonds, as Morrissey writes, were based on the possibility of the stocks backed by the mortgages would go bad.  They were modeled after municipal bonds which are guaranteed and insured.  So, if a city goes bankrupt the Bond holders would have to be paid and would have to be paid at thirty times what they invested.  This means that the trillions of dollars paid out by the Bond writers, which almost put AIG and all the other collaborators out of business.  The amount of money shifted out of our economy represents the largest theft in the history of the world.  That money will NEVER come back to America.  Hedge funds buying Bonds to save Greece in the first round last year were guaranteed an 18% return—what investment in ANY American business will ever be able to pay those returns?  Right now, hedge funds control every Cocoa crop in the work for the next ten years.

The impact over the world, all the bad mortgages backed stocks that the makers knew were going to go bad, cost stock holders all over the world billions. s failing. For every dollar invested in CDBS pays the holder 30-40 dollars. That means that a foreclosure of a $100,000 pays the CDNS holder $3,000,000. President Obama mentions this is his first Press Conference, but no one has reported on it except Morrissey. This process has not been stopped and its aims have been accomplished

Plan Step #2     To demolish and clear the thousands of acres of “Red-Lined” neighborhoods (Slums) to create, for banks, the largest land sell off in the history of the world.  Since American investors know that they make little or nothing investing in American real estate, most of these acres will be sold to cash rich world citizens who need a safe and secure country to live and prosper.  This will be their home while their own countries fall into chaos, oppression, and revolutions.  The failed Lee-Schumer bill is the best example of this plan.  The bill would have given almost unlimited visas to people from foreign countries who bought houses here for $500,000 or more with cash.  The bill failed, but be assured; there are twenty other bills that you will not hear about that will accomplish the same purpose.  This is at a time in our history when National Public Broadcasting’s show Need to Know reported last week that 33% of Americans are now living at or below the poverty level.  Will this plan change that?  No.  Is it too late to change it?  I think it is.

Plan Step #3    

The Third steps in this plan cover the obvious and less obvious.  In fact, we can really only speculate on what dimensions of our current reality were part of the initial plan.  I can only speculate on some of these last aspects of the Banking/Wall Street Financial Plan for America initiated as I described in 1998 to 1999. 

1)    The first result is that acres and acres of urban slums are now wastelands.  The CBS show discussed the demolition of homes, and the landscaping of the lots with grasslands.  These “open spaces” still have a tiny number of homes still standing, but the homeowners are not paying their mortgages, and expect to be evicted at some point in the future.   This land represents billions of dollars of potential income for the banks that have ended up owning them.  Here are the possibilities that I have read about:
a)    The Congress almost passed a Bill that would have given almost free visas to foreign buyers who bought homes in the United States for $ 500,000 or more, and that paid cash for the homes.  The bill did not pass, but the banks do have lines forming form wealthy foreigners to move here—especially from countries where the governments are drifting towards anarchy.
b)   Our inner cities are dying, these acres of land will provide excellent open space for commercial and industrial construction.
c)    Five years ago, NPR reported that 63% of Americans lived in gated or “sealed” communities with no access to public streets.  These acres of land will provide developers with “virgin” land to develop “closed cities” where the concept of open governance will not be tolerated, and corporations will provide all the structures that the citizens need—from schools to hospitals to police and lot more.

2)    The concentration of wealth gives hedge fund managers assets to control future commodity markets that shut out competition and normal market limitations on risk and control.   A year ago, it was reported in the news that hedge funds owned all the futures on cocoa beans for the next ten years.  This means that the funds will control the coat of chocolate for the next ten years, and most likely forever, because their funds continue to grow daily.  Payments to Credit Default Swap Bond holders have not stopped. and will not stop. They are not going to be stopped, and below is an article that describes the Department of Justice reluctance to do anything about correcting these derivatives or punish Wall Street for creating them.  My guess is that a massive amount of wealth in these funds “buys” anyone—Democrat, Republican. President or Senator. 

3)    The last possible area of the use of these massive assets has much more sinister goals.  Some writers think that the money will create “private” armies both in the United States and thereabout the world.  For instance, hedge funds have been involved in creating mercenaries groups used by the United States to protect American embassies.  MPR reported that the American Embassy in Iraq has 16,000 employees:  11, 000 with the Embassy, and 5,000 paid military personnel from a private contractors.  Within the United States, Chuck Norris (Not a politician, but an “entertainers’”) said that there were over 1,000 militias armed and ready to be mobilized in case a national “crisis”.  With what we have seen owned by individuals, we can speculate without a doubt that we are talking about thousands of weapons and millions of rounds of ammunition.  This is the one goal that I know the least about.

In conclusion, the plans laid by billionaires in America in 1998-19999 have succeeded.  83% of our wealth goes to the top 1%, and there is nothing we can do about it. (Onpoint Radio report). 

No one is talking about what "Make my day" means.  These are the three words that the character Dirty Harry would use to threaten a person that Eastwood's character "wanted to flinch", so he could shoot them with his "giant gun."  Using that for the President of the United States is treason.  Clint Eastwood threatened to shoot the President of the United States if the imaginary President Obama flinched or made a threatening move.  "Make my day" yelled by the delegates at the Convention was a massive threat to the life of the President.
Also, why isn't anyone talking about the control that the Mormon Church exercises over The Boy Scouts of America.  Mormon churches require all boys in their congregations become Scouts.  That makes the Church of Latter Day Saints the largest contributor to the budget of the Boy Scouts of America.  Therefore, they control the BSA.  They decide that the BSA will continue to refuse gay people from membership.  Mitt Romney has to be asked if he supports these actions on the part of the Church. He has to explain their actions, and either ask for a change, or admit that his church has brought an end to the BSA as it was once known, and would he support the creation of a new BSA, open to ALL AMERICANS!
If you need to know more, see my blog: liberaltruths.blogspot.com.