Monday, October 18, 2010

45 Trillion Dollar Loss Coming

"This is the way the world ends, this is the way the world ends, this is the way the world ends...not with a bang but a whimper."T.S. Eliot
For years I was thought of as "extreme" in my Road to Roota conclusions that we are about to experience a Creative Destruction event that will wipe clean all electronic and paper financial assets and debts from the face of the earth. I have tried to show people why and how through my Road to Roota Letters and slowly but surely many have opened their eyes.
After watching this interview even the "non believers" will have a hard time arguing that the massively corrupt banking system can avoid the crash...

This is not just $45.5 Trillion in fraudulent assets (mostly Teir 1 assets for banks) but tacking on all the derivatives we end up with a number in the QUADRILLIONS!
WITHIN A MATTER OF WEEKS THE HOUSE OF CARDS WILL FALL, THE DECK WILL BE RESHUFFLED AND WE WILL DEAL THE CARDS AGAIN....EVERYBODY HOLDING A FRESH NEW HAND.
ARE YOU READY?
More Here

18 comments:

  1. lawyers may make a fortune on this as with tobacco, thats why they are "selling" this issue. alan greyson is the premature ejaculation of george soros

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  2. an excelent video clip! no i'm not in foreclosure nor am i behind on any payments. i do have 8 mortgages and am beginning to feel that the massive amount of money i spend each month is not going to lead to out right ownership of the properties. why am i still making payments?

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  3. 9:14, you're right. And just think of your real estate taxes, that's a mortgage that never goes away!

    An Indian chief said that Americans have a mania for owning things (I'm not Indian) and I suspect he was right.

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  4. Considering that banks are really private institutions and that they manufacture money out of thin air, and that they got a private bailout, maybe we should all start banks.

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  5. If the dollar did default, what would that scenario be like?

    Hopefully this blog can address this.

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  6. Pretend and extend. Mumbo Jumbo temporarily replaces the reality is that she borrowed money and does not want to pay it back. Check out the large McMansion she is living rent free in the Simi Valley. In the past, she took out loans to live a lifestyle she could not afford. Now that she can't take out more loans, and can't pay for her bills, she wants to continue the fantasy. But the debt will not magically go away, and sooner or later she will find herself not living in an exclusive upper class section in the Simi Valley, but in a poor area. Financial reckoning day will come for her and millions who did not plan for a rainy day.

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  7. I clearly remember a few short years ago, TV and radio ads that offered "Stated Income" home loans. You tell us how much you earn and we'll be sure to NOT verify this. We'll even let you but this house with no down payment! Yea, oh happy day. Naturally they were going to get all kinds of unqualified buyers.

    Why would a lender, loan money to someone they knew would have a high likelihood of not paying it back! It happened countless times. Now they are reaping the whirlwind of defaults and foreclosures they must have known would happen.

    My house is paid in full. I followed the rules and made my payments on time. Now my house is worth 1/2 what I paid for it. It's no fun anymore.

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  8. This isn't about the home-owner not being able to pay and defaulting on the loan because of over-extending. I wonder if anyone reads the articles or watches the videos before they post. This is about the banks not being able to provide the accounting and show where the money is going, and in her case why it was only increasing. Are you familiar with the phrase ponzi scheme?

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  9. Dear Anonymous 12:14. Perhaps you should read about them in the Wall Steet Journal and their bankrupt lawyer. The video here does tell the whole story. "The Earls paid $500,000 for the house in 2001 and then refinanced to pull out cash. They fell behind on their mortgage and at the time of their eviction they owed about $880,000 on a no-interest the mortgage." While the bank finds the original paperwork for the mortgage, is not a red light to stop paying the bill, and while it is sorted out how much she may have been "overcharged," she is not entitled to stop paying the bill. She is now in a house she has no right to be in and wants to talk about everything except paying her bill. Her lawyer is no better having several homes himself in foreclosure.

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  10. Banks got the bailout because deadbeat borrowers will not pay the bill. The banks will pay the government back but the deadbeats never will.

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  11. Here is the link both client and lawyer want excuses not to pay:

    http://blogs.wsj.com/developments/2010/10/13/evicted-family-breaks-into-their-former-house/

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  12. I hope you people arent sticking up for the ruthless,corrupt,scum sucking,moralless banks

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  13. No; I'm not as these scum sucking pricks will suck the very life out of you if you let them.

    But - damnit! The facts of this particular case are FACTS !

    Paid for house in 2001 $500 grand
    Owed on house in 2010 $880 grand

    They used it for a Mac machine

    No more fucking excuses ! Please !

    A half a million dollar house ! With 9 friggin' kids?

    WTF

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  14. The Earl family bought the Simi Valley house in 2001 for $539,000 with a loan originating with First City Funding, dba Credit Corp. In 2005 they refinanced with an $880,000 loan. In February, the trustee’s deed upon sale indicated unpaid debt with costs on the property just over $1 million. Records indicate no mortgage payment in over two years. Her lawyer has been arrested for this same bad advice with other clients. Check out how the Earls spent all that borrowed money with their light show years past. http://www.danielleslightshow.com/

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  15. Yeah. no shit - all these people here jumping to quick conclusions - these maggots are just as bad as the bankster magotts - maggots begatting maggots

    I've no time for either

    We are learning from them and are now just as guilty -- and twice as bad

    Damn !

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  16. Wow. I'm speechless. This thing is so much bigger than I had ever imagined. There is no getting out of this. We are really done for.

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  17. Big bank apoligist morons! Its all the individual's faults because YOU say it is, eh? I dont think so, chump. The thug bank's actions speak louder than your words. Just take a look around you and stop toting th eline. Who are the real maggots, worm? LOL.

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  18. The housing ATM is over and the bill is here, so I hope you had fun all of those years. She spent the house and thinks it is still hers. Look up her name and her lawyer on other sites. They are both broke, on a sinking ship grasping at straws. That lawyer was arrested a few days ater helping another client break into what he still believed was his home.

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Everyone is encouraged to participate with civilized comments.