Wednesday, 20 October 2010

The stealth LOOTING of America.............from Rico

The Federal Reserve is looting America, raiding the wealth of Main Street, stealthily and with the complicity of the MSM, Congress, and the Red Shed (formerly known as The White House).

While we are being 'distracted' by the fraudulent residential real estate story, there is complete silence on an even bigger threat to the economy. CRE (commercial real estate).

CRE, carried on the books of Banks is a $3 trillion dollar market (about twice the GDP of Texas) and consists of mortgage paper that is being rolled-over to prevent the collapse of those who carry the paper on their books at 'bubble' values instead of true mark-to-market value, which is much lower. About 42% lower and still sinking.

Enter the FED. The FED is buying this crap CRE paper at their full loan values from Banks to help them and other needy entities like the Hilton Hotel chain. I'm sure the 43 million Americans living in poverty and the rest of us 'mug' taxpayers trying to stay afloat must be happy and PROUD that our tax-dollars went to help the neediest and NOT them.
- And I'm sure Paris Hilton thanks you, the Banksters are glad for your donation, and Joe Biden is proud of your patriotism!

There is nothing GOOD for our economy in these numbers and fiscal shenanigans. This CRE problem dwarfs the residential real estate problems we have.
- No wonder many former and soon-to-be former members of Team Obama are shopping their resumes and bailing out of this mis-administration.
- No wonder FTV and the lapdog MSM are keeping this so very quiet.

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