A Trillion dollars a day worries me. This is the first thing I saw this morning and it troubles me deeply. The economic barometer began rising, in mid-September on through today, as the Fed began handing out over $180B per day in over the counter lending to the tune of $6T without much mention to the public. I’ve been writing about this throughout that time to seemingly crickets. Many of the banks receiving those funds didn’t ask for it and didn’t need it, but received funds anyway. Today, the Fed is moving an unprecedented $1T a day across the counter to the big banks without Congressional oversight. This should be of grave concern to everyone.
The fact that the Fed is accelerating its own purchases of mortgage-backed-securities raises major red flags to me, as well. Every loan securitization audit that I have ever reviewed from across the nation is littered with fraud which, by law, makes the securities that are within the tranches void, therein making the tranches void as well. Therein making the global investments void, as well. The judicial systems across the country have turned a blind eye to the truth to the evidence that is presented to them in foreclosure fraud. The reason for this is primarily corrupt benches. Those of us that follow this kind of information aren’t very surprised and remain cautious and worried. This exasperates the extent of the smoke and mirrors of the stability of the American and global economy. With all of the toxicity of the mortgage-backed-securities in the market and the Fed buying them up at record pace simply tells me that any repair to this legal travesty is not going to be fixed anytime soon. This house of cards on such a global scale is here to stay and I don’t see any legal precedent that the system will allow to be created that is going to change any of that very soon.
This concerns me, as well, as the government talks about placing necessary moratoriums on foreclosures across the country. The last time any action like this took place, beginning in 2008, in the shape of loan modifications through the likes of the failed TARP, HAMP and other programs that were less than 2% successful, created tainted titles across the nation. This, in turn, created new layers of curtains drawn across the mortgage industry that simply sweep the economic virus under the rug for a later date. That later date has now arrived and it is being swept under again with no oversight. There is no legal legitimate mortgage lending happening in the United States anymore, however, this is the paradigm we have all decided to participate in. We have allowed our legislators to put us in this position. Partly this is due to their own ignorance and part is due to political corruption. Both have become major toxins to how our country is to run.
The system keeps turning and people buy their homes and investments are made. The foundations of all of the properties in this country are sitting in quicksand. I feel that there is no longer any viable legal means of unraveling the mayhem. With everything being so intertwined and fraudulent at the same time makes fixing the issues extremely difficult. All of this will continue to play out well for the large institutional investors who will continue to receive the bailouts for being “too big to fail” as we continually see to this day. But, the solutions for the average homeowner will remain tenuous at best. They have polished the mirrors to reflect the billowing bowels of smoke that are being pumped into the mortgage system.
* * * * * * * * * *
I welcome those reading my blog. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!
Thank you for stopping by.
©2014-2020 Doug Boggs All Rights Reserved