Comments on: FDIC Broke and Selling Real Estate: How $13 Trillion in Assets is Protected by no Deposit Insurance Fund. FDIC Selling Properties to Replenish Fund and Collecting Early Fees. http://www.mybudget360.com/fdic-broke-and-selling-real-estate-how-13-trillion-in-assets-is-protected-by-no-deposit-insurance-fund-fdic-selling-properties-to-replenish-fund-and-collecting-early-fees/ Investing ideas for preserving wealth in a fluctuating market. Tue, 16 Mar 2010 08:10:39 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Sage http://www.mybudget360.com/fdic-broke-and-selling-real-estate-how-13-trillion-in-assets-is-protected-by-no-deposit-insurance-fund-fdic-selling-properties-to-replenish-fund-and-collecting-early-fees/comment-page-1/#comment-19068 Sage Tue, 16 Feb 2010 00:13:36 +0000 http://www.mybudget360.com/?p=1445#comment-19068 Anybody with money in the bank that thinks it is going to be covered by FDIC, like the media tries to make everybody believe, is going to be in for a rude awakening should their bank go belly up. But, since you can't tell a lot of people anything these days, they will be forced to learn the hard way, and then the crying will begin, in earnest, with hand wringing and "oh no, why didn't somebody tell us?" Well, we tried to, chump change; you thought you knew everything, so now live with it. Anybody with money in the bank that thinks it is going to be covered by FDIC, like the media tries to make everybody believe, is going to be in for a rude awakening should their bank go belly up.
But, since you can’t tell a lot of people anything these days, they will be forced to learn the hard way, and then the crying will begin, in earnest, with hand wringing and “oh no, why didn’t somebody tell us?” Well, we tried to, chump change; you thought you knew everything, so now live with it.

]]> By: TruthSetsYouFree http://www.mybudget360.com/fdic-broke-and-selling-real-estate-how-13-trillion-in-assets-is-protected-by-no-deposit-insurance-fund-fdic-selling-properties-to-replenish-fund-and-collecting-early-fees/comment-page-1/#comment-19067 TruthSetsYouFree Tue, 16 Feb 2010 00:07:51 +0000 http://www.mybudget360.com/?p=1445#comment-19067 Good article! Except there is one important point missing. When that 13 Trillion was sucked out of the economy, where did it go? Money does not evaporate on CDS trades, there is a winner and a loser. Go look at the charts on the dollar back in mid summer 2008. The dollar spiked like it has never done before. Who ws the winner of that trade? Your government! ? Who was the loser (who happened to be betting against American) ? J P Morgan! Who is not nor ever been a benevolent malafactor, so no love lost there. However, the US govt made the 13 trillion on the deal which happens to be same amount we keep hearing about somebody somewhere is short. So, not being able to pay, JP had to be bailed out by the government backed Joe taxpayer bailout, and who gets to pay for that? Joe taxpayer. So, the government made 13 trillion, got paid, then loans fiat hot off the press money to the loser of the trade, and we get to pay both the bill and the defalation from the trade. The governement wins on the front side and the backside, the bank lives to see another day, and Joe taxpayer foots the bill coming and going. What a deal. Economic weapons of mass destruction have been unleashed and are heading for a small governemnt, auto manufacturer, bank, whatever they choose near you. Go to CAFR1.com and get educated then get your pitchforks. Good article! Except there is one important point missing. When that 13 Trillion was sucked out of the economy, where did it go? Money does not evaporate on CDS trades, there is a winner and a loser. Go look at the charts on the dollar back in mid summer 2008. The dollar spiked like it has never done before. Who ws the winner of that trade? Your government! ? Who was the loser (who happened to be betting against American) ? J P Morgan! Who is not nor ever been a benevolent malafactor, so no love lost there. However, the US govt made the 13 trillion on the deal which happens to be same amount we keep hearing about somebody somewhere is short. So, not being able to pay, JP had to be bailed out by the government backed Joe taxpayer bailout, and who gets to pay for that? Joe taxpayer. So, the government made 13 trillion, got paid, then loans fiat hot off the press money to the loser of the trade, and we get to pay both the bill and the defalation from the trade. The governement wins on the front side and the backside, the bank lives to see another day, and Joe taxpayer foots the bill coming and going. What a deal. Economic weapons of mass destruction have been unleashed and are heading for a small governemnt, auto manufacturer, bank, whatever they choose near you. Go to CAFR1.com and get educated then get your pitchforks.

]]> By: Ross Wolf http://www.mybudget360.com/fdic-broke-and-selling-real-estate-how-13-trillion-in-assets-is-protected-by-no-deposit-insurance-fund-fdic-selling-properties-to-replenish-fund-and-collecting-early-fees/comment-page-1/#comment-19058 Ross Wolf Mon, 15 Feb 2010 17:34:26 +0000 http://www.mybudget360.com/?p=1445#comment-19058 Obama has reason to know his recent nationalization of the home mortgage market will both destroy housing as an appreciating investment and evaporate equity in homes belonging to millions of Americans. The Treasury Dept. recently removed a $200 billion cap on aiding Fannie Mae and Freddie Mac providing each company a taxpayer Blank Check to cover mortgage losses. Because the two companies secure 70% of new home mortgages, that will leave only a tiny number of private mortgage lenders. Meanwhile Rep. Barney Frank is again advocating loans to unqualified-home buyers foreseeable to cause more foreclosures, forcing down home prices and values that support $Trillions in bank mortgages: U.S. taxpayers just spent $billions to prop up banks after the sub-prime mortgage crash. Dropping home selling prices are already causing local governments to collect less property tax, forcing layoffs of government employees. Consequently CA and other States are raising income taxes to recover lost property taxes. Making it even more difficult for Homeowners to save their property from foreclosure, now HUD Wants To Make It Almost Impossible for Home Sellers to provide “seller financing” To Get Out Under A Mortgage or Sell their Home, with Seller Financing” Even When they Own it Free and Clear. Not allowing owners to carry back part of the selling price in seller financing on non-occupied homes sold will force federal gain taxes on Citizens. This 2/14/10 Alert! Was Received from: Citizen Assemblies | 685 Placerville Drive | Placerville | CA | 95667 HUD Wants Your Fingerprints - or ElseAgency Seeks to Outlaw ALL Owner Financing On All Non-Owner Occupied Homes. Demands That Property Owners Become Fingerprinted, "Licensed Mortgage Originators"Rules Apply to Owners Who Own Their Property Outright Creates New Class of Outlaws and Could Force People to Finance Through The Federal Government. February 16 Deadline for Public Comment, Dear Citizens: In its latest attempt to control Americans capital HUD has proposed stunning, private property busting rules in Docket No. FR-5271-P-01. http://www.citizenassemblies.com/HUDdoc1.pdf This proposal provides a window into the minds of your federal employees who have clearly decided that your property rights must be lassoed for "your own protection." Like most new regulations, these rules create new legislation without legislation being proposed by your representatives. In this case HUD has been granted authority by the Secure and Fair Enforcement Mortgage Licensing Act of 2008, signed into law by President Bush, to do whatever it pleases to enforce the general spirit of the Act. A few highlights of the proposed regulations:1) Outlaws ALL unlicensed owner financing unless the owner occupies the property. 2) Requires mortgage originator licensing if you seek to finance your property to someone - even if you own the property outright.3) You cannot receive a license if you've committed any felonies - ever - meaning you'll never be permitted to self-finance your property under any conditions if you're a felon of any kind.4) Mandates fingerprinting to finance your own property.5) Threatens a $25,000 penalty for owners who fail to obey HUD’s Rules. 6) Forces owners to complete 3 hours of Federal Law training. 7) Mandates owners complete 2 hours of federally approved 'ethics' training. 8) Requires that owners complete 2 hours of lending standards training. 9) Puts upon all self-financing owners and their prospective buyers dramatically higher costs and decreased opportunities to engage private property transactions.10) Stops you from exercising your own constitutionally protected private property rights until the government approves your conduct - and charges you for it.11) HUD grants itself authority to summon you any time it chooses for a host of reasons. 12) I could go on, but you get the point. Irrespective of what the document claims, the primary purpose of this legislation is to force more lending and taxable transactions to pass through federal hands. But of course, this and the endless rules and regulations steamrolling our society are for our own protection... right? You may make your opinion known to HUD regarding this proposed legislation (disguised as a "rule") by following the instructions on page 2 of the document. I encourage you to contact your local real estate professional who might be able to explain how these rules will affect all property holders - and those who seek to become property holders - in one fashion or another.FORWARD this email to all people who value their private property rights. More alerts coming over the next two weeks as some legislation and rules are "sliding" under the radar. Thank you, Edward Whittaker FounderRescueUS Project dbaCitizen Assemblies 530-622-6598Defend Your Personal Liberty http://www.citizenassemblies.com/join.htm Obama has reason to know his recent nationalization of the home mortgage market will both destroy housing as an appreciating investment and evaporate equity in homes belonging to millions of Americans. The Treasury Dept. recently removed a $200 billion cap on aiding Fannie Mae and Freddie Mac providing each company a taxpayer Blank Check to cover mortgage losses. Because the two companies secure 70% of new home mortgages, that will leave only a tiny number of private mortgage lenders. Meanwhile Rep. Barney Frank is again advocating loans to unqualified-home buyers foreseeable to cause more foreclosures, forcing down home prices and values that support $Trillions in bank mortgages: U.S. taxpayers just spent $billions to prop up banks after the sub-prime mortgage crash. Dropping home selling prices are already causing local governments to collect less property tax, forcing layoffs of government employees. Consequently CA and other States are raising income taxes to recover lost property taxes.

Making it even more difficult for Homeowners to save their property from foreclosure, now HUD Wants To Make It Almost Impossible for Home Sellers to provide “seller financing” To Get Out Under A Mortgage or Sell their Home, with Seller Financing” Even When they Own it Free and Clear. Not allowing owners to carry back part of the selling price in seller financing on non-occupied homes sold will force federal gain taxes on Citizens.

This 2/14/10 Alert! Was Received from:
Citizen Assemblies | 685 Placerville Drive | Placerville | CA | 95667

HUD Wants Your Fingerprints – or ElseAgency Seeks to Outlaw ALL Owner Financing On All Non-Owner Occupied Homes. Demands That Property Owners Become Fingerprinted, “Licensed Mortgage Originators”Rules Apply to Owners Who Own Their Property Outright Creates New Class of Outlaws and Could Force People to Finance Through The Federal Government.
February 16 Deadline for Public Comment,

Dear Citizens:
In its latest attempt to control Americans capital HUD has proposed stunning, private property busting rules in Docket No. FR-5271-P-01. http://www.citizenassemblies.com/HUDdoc1.pdf
This proposal provides a window into the minds of your federal employees who have clearly decided that your property rights must be lassoed for “your own protection.” Like most new regulations, these rules create new legislation without legislation being proposed by your representatives. In this case HUD has been granted authority by the Secure and Fair Enforcement Mortgage Licensing Act of 2008, signed into law by President Bush, to do whatever it pleases to enforce the general spirit of the Act. A few highlights of the proposed regulations:1) Outlaws ALL unlicensed owner financing unless the owner occupies the property. 2) Requires mortgage originator licensing if you seek to finance your property to someone – even if you own the property outright.3) You cannot receive a license if you’ve committed any felonies – ever – meaning you’ll never be permitted to self-finance your property under any conditions if you’re a felon of any kind.4) Mandates fingerprinting to finance your own property.5) Threatens a $25,000 penalty for owners who fail to obey HUD’s Rules. 6) Forces owners to complete 3 hours of Federal Law training. 7) Mandates owners complete 2 hours of federally approved ‘ethics’ training. 8) Requires that owners complete 2 hours of lending standards training. 9) Puts upon all self-financing owners and their prospective buyers dramatically higher costs and decreased opportunities to engage private property transactions.10) Stops you from exercising your own constitutionally protected private property rights until the government approves your conduct – and charges you for it.11) HUD grants itself authority to summon you any time it chooses for a host of reasons. 12) I could go on, but you get the point.

Irrespective of what the document claims, the primary purpose of this legislation is to force more lending and taxable transactions to pass through federal hands. But of course, this and the endless rules and regulations steamrolling our society are for our own protection… right? You may make your opinion known to HUD regarding this proposed legislation (disguised as a “rule”) by following the instructions on page 2 of the document. I encourage you to contact your local real estate professional who might be able to explain how these rules will affect all property holders – and those who seek to become property holders – in one fashion or another.FORWARD this email to all people who value their private property rights. More alerts coming over the next two weeks as some legislation and rules are “sliding” under the radar.

Thank you, Edward Whittaker
FounderRescueUS Project dbaCitizen Assemblies
530-622-6598Defend
Your Personal Liberty
http://www.citizenassemblies.com/join.htm

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