Foreclosure-Gate: Karl Denninger "And Now, For The Real Sh$%show"

01-24-2011 • Market-ticker.org

What have I been prattling on for over a year about? This exact point. How many people have said this didn't matter and wouldn't be a problem? Remember all the apologists for the banksters that said this wouldn't lead to liability, it didn't represent a void transfer, and that all this would be swept under the rug and be ok? Care to rethink that position.... just a wee bit? Looks to me like as the Statute of Limitations approaches and the firms in question that have gotten screwed have faced the choice of "shut up or sue" they've decided that the correct response is "Ok, I'll sue." I doubt they'll be interested in settling for a tiny amount of money either, given the default and economic harm numbers put forward in the complaint. Nor do I think this will be a singular complaint - drop in your name and play "template" with this one folks.

1 Comments in Response to Foreclosure-Gate: Karl Denninger "And Now, For The Real Sh$%show"

Comment by PureTrust

Entered on: 1/25/2011 8:49:09 PM

It is time to get the picture here.

Paper has value in 2 areas:
1. The value of the item it represents or is officially tied to;
2. The literal value of the pulp paper itself.

When cash money was backed by gold and silver, there was value besides the value of the paper. Now that it is not formally backed by anything of value, how do you put your finger on what it is worth?

Furthermore, since the Federal reserve Bank simply prints or authorizes the printing of cash money, and since they then loan it to the Government, how is it that they actually loan anything of value, since you can't really put your finger on what backs the money?!

The truth is that NOTHING backs cash money. Nothing was loaned to the Government except some cloth paper that has printing on both sides. And maybe not even that.

No loan, no national debt. No national debt, no need for IRS taxes to repay it. Also, no loan in the form of mortgages.

This whole idea of looking for the paper and the paper trail behind the mortgages, is a clever piece of propaganda designed to take the eyes of the people off the fact that there never has been any LEGAL LENDING INSTITUTION LOAN made since the cash money was taken off the gold and silver standard. And, if you really look at it, you might find that there never was any loan made since the Federal Reserve Bank took over the money systems of the nation back in the '30s.

This whole thing is a HUMONGOUSLY HUGE GIGANTIC SCAM to steal the labor of the people from them. And it is working quite well. The people seem to love it this way.