Once upon a time John Key was invited to sit on an upon invitation only “advisory” committee of the New York Federal Reserve. The Federal Reserve had just announced they will buy up all teh fraudulent mortgage derivatives at a rate of $ 40 billion a month. That equates to $ 40 Billion of free money to the banks who gambled in derivatives. The end result?
On ABC’s “This Week”, George Will, columnist for the propaganda news outlet The Washington Post, spoke out against Chairman of the Federal Reserve Ben Bernanke and his decision to instill QE3 which is essentially, “the government printing money.”
Will pointed out that this latest move is covert “trickle-down economics” where citizens are forced to invest in equities in order to continue to prop up the economy to perpetuate the false sense of reality that the American public lives under.
Last week, Bernanke announced that the Fed would purchase $40 billion in toxic assets, called mortgage-backed securities, per month. While this scheme will devastate the US dollar’s value by the very act of printing more money, there is a secret bailout of certain financial institutions occurring under the radar.
QE3 serves as a “regressive redistribution program” for the banksters who are enjoying a surge in their wealth under current economic conditions.
The Federal Housing Finance Administration (FHFA) recently announced that “strategic defaulters”, i.e. those homeowners who have abandoned their mortgage because they could not continue to make the monthly payments, will be jailed for this “crime”.
The FHFA oversees Freddie and Fannie Mac, the mortgage corporation owned by the US government.
The FHFA are focusing their efforts on criminally persecuting all American citizens “who abuses the FHFA programs” by walking away from their foreclosure.
Statistically speaking, according to the FDIC:
• 1 out of 200 homes will be foreclosed upon
• 250,000 new households enter foreclosure every 3 months
• 6 out of 10 homeowners are delinquent on their mortgage
Morgan Stanley is the financial institution that took in the mortgage-backed securities and offered their derivatives across the global market.
Recently, Morgan Stanley’s stocks have been dramatically dropping which has been blamed on securitized loans and derivatives as to the cause of this plunge into insolvency.