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).