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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
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Executive Summary – Below you will find a video from a US Congressman from Florida specifically detailing mortgage fraud with court exhibits and details, names etc. It appears that some companies are stopping foreclosures. They are probably trying to regroup before a large wave of investigations, publicity and possibly criminal prosecutions takes place. We have seen JP Morgan Chase and GMAC Mortgage suspend foreclosures temporarily in judicial foreclosures states only. There have been confessions (media uses word admit) attesting to filing false affidavits. The companies are reviewing whether or not they have the right to foreclose. What they mean is they are trying to find a workaround. Obama reimburses the lenders for losses sustained in foreclosures. They need to foreclose to get this money so the amount of loss can be documented. Nice guy Obama. Citi is expected to join Chase and GMAC. The state of Connecticut has stopped foreclosures for 60 days. Bank of America has put foreclosures on hold in 23 states while they look into what has been done and the legality.
Discussion – The foreclosure scam is nothing more than a fraud on the courts. Do not expect to see any prosecutions. Maybe they will go after a few of the mortgage servicing companies doing the foreclosures as fall guys leaving the banksters alone. During the second quarter 24% of all home sales were foreclosed homes. The foreclosed house prices were reduced on average 26% below already depressed retail home sale prices. Normal foreclosed home sales figures should be well under 5% in a normal economy. That would be say one in 25 or 40 sales, not one in four. If the foreclosures stop home sales will plummet making things look bleaker in the USA economic picture.
Now when we look at it a little broader this is what we see. Distressed homes, ones in foreclosure or short sale (selling for under loan amount) rose to 34% of all house sales in August 2010. That is one in three. During second quarter banks sold 151,000 homes they already owned (post foreclosure). This accounted for 15% of all home sales. Foreclosed home sales prices of course drag down housing prices. Owners not in distress cannot sell their homes for anything that they consider realistic.
When you add all the figures in you get almost 50% of all home sales coming from distressed property of some sort. If a large amount of the foreclosures stop for a long time (say one year) then the inventory of distressed properties on the market will go down and prices may start to rebound slightly. If they stop foreclosures in many states for 2-3 months do not expect much to happen except a lot of people will still have a roof over their head for a few more months. If prices rebound then the toxic mortgages reduce in number, amount or both. This makes the banks more solvent and able to start lending again.
It is a stupid plan but might create some artificial bump upwards of housing prices. If the foreclosure moratoriums are only going to go on for a few short months the effects will be minimal if any. There is a large backlog of bank repossessed homes and homes in foreclosure, homes abandoned, etc. It will take a long time for these to be absorbed off of the market. Only after this absorption occurs would housing prices begin to adjust. First the plunge stops, prices level off and then the prices rise if demand goes up. For demand to go up the people need to have money, down payments, income and are able to qualify at the bank for a mortgage. I doubt this is something that would take less than two years. Remember people will be very afraid to buy for some time even after there is a recovery. This sort of fear can take two or more years to go away. I can see nothing taking place to really fix the economy in time for the 2012 elections.
The Real Fix – There needs to be productive jobs created. This we are not seeing. Obama is dropping the dollar so as to stimulate exports and tourism. A cheap trick but apparently all he is capable of. Then he accuses China of depressing their currency, what a joke. When you have a cheap dollar the big companies benefit (exports) and the workers don't but yes it does create some jobs. People need to realize the one world order is a farce and will only lead to them being destitute as the jerks attempt to accomplish this.
Right now the only real work force in the USA consists of city, county, state and federal workers combined with companies that rely on business dealings with the various governments. Much of the private sector consists of service industries like fast food, gas stations, retail outlets, taxi drivers etc.
Inadvertently or on purpose the USA has been devastated by the banksters and their politicians. The tools that empowered them was the worthless paper money and the federal reserve bank. Be doubtful of any political movement that does not seek to correct this evil. You should also start paying attention to the EU and the demonstrations, strikes and riots taking place there concerning the economy and banksters. Their idiotic plan is to merge Canada, USA and Mexico into one. Then merge this into the EU. This I doubt you will ever see, not even close. Remember when these jerks fail people say oh no it is intentional that is how they deceive us. Come on these are morons. They are taking advantage of the trust and faith the people stupidly put into them as they fell asleep at the wheel and became apolitical. Bottom line is no real fix is possible without dumping the federal reserve bank. That was the root of all their evil.
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