Shadow Government "Money" Supply Growth from ShadowStats

Chart of U.S. Money Supply Growth

29 October, 2010

Get Out of the Way

When a beast this big dies, its flailing tail does a lot of damage.

From, this excerpt:

"The mortgage & foreclosure scandal could turn out to be the big US Bank tombstone epitaph, as bank revenues from mortgages halt, as home owners refuse to make mortgage payments, as court cases unfold in full view, as class action lawsuits prove racketeering at a systemic level, as MERS and REMICs are frozen by the courts from further activity.

28 October, 2010

Halliburton Responsible For Deepwater Disaster?

What a surprise.
"As early as February, oil-field service giant Halliburton was getting poor results in lab tests of the recipe for the cement it was planning to use, according to evidence collected by the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling."

Foreclosuregate Explained: Big Banks on the Brink


"One foreclosure expert estimates that just 6 to 7 percent of the loans made in the last three years can produce properly recorded title transfers from borrower to final lender."

The question is: Is a +93%chance that your "lender" CANNOT produce properly recorded title transfers worth a look?

27 October, 2010

You Just Can't Make Stuff Like This Up...

From "ProseBeforeHos" (apparently, Marxists don't know how to spell "Pro's", or grasp that "pro's IS hos")

"By now, most of us know the major players. As George Bush’s last Treasury secretary, former Goldman CEO Henry Paulson was the architect of the bailout, a suspiciously self-serving plan to funnel trillions of Your Dollars to a handful of his old friends on Wall Street. Robert Rubin, Bill Clinton’s former Treasury secretary, spent 26 years at Goldman before becoming chairman of Citi-group – which in turn got a $300 billion taxpayer bailout from Paulson. There’s John Thain, the asshole chief of Merrill Lynch who bought an $87,000 area rug for his office as his company was imploding; a former Goldman banker, Thain enjoyed a multibillion-dollar handout from Paulson, who used billions in taxpayer funds to help Bank of America rescue Thain’s sorry company. And Robert Steel, the former Goldmanite head of Wachovia, scored himself and his fellow executives $225 million in golden-parachute payments as his bank was self-destructing. There’s Joshua Bolten, Bush’s chief of staff during the bailout, and Mark Patterson, the current Treasury chief of staff, who was a Goldman lobbyist just a year ago, and Ed Liddy, the former Goldman director whom Paulson put in charge of bailed-out insurance giant AIG, which forked over $13 billion to Goldman after Liddy came on board. The heads of the Canadian and Italian national banks are Goldman alums, as is the head of the World Bank, the head of the New York Stock Exchange. the last two heads of the Federal Reserve Bank of New York – which, incidentally, is now in charge of overseeing Goldman – not to mention…"
Of course, they missed the Goldmanites in the State Department, SEC, CFTC, and everywhere else, but it's an otherwise decent re-write of Matt Taibbi's Rolling Stone article.

Worthy of note: The description of "a pattern that would repeat itself over and over again", e.g., "You take a dollar and borrow nine against it; then you take that $10 fund and borrow $90; then you take your $100 fund and, so long as the public is still lending, borrow and invest $900...".

This is EXACTLY how the Chicago Fed explained fractional reserve banking in its 1992 version of MODERN MONEY MECHANICS. (Available on

This Will Be Interesting...

As noted on Zero Hedge, from Bloomberg:

"Mortgage-bond investors represented by Dallas lawyer Talcott Franklin will send letters to securities trustees complaining that they shouldn’t bear the costs of loan servicers’ so-called robo-signing. The reason for the ire? It is the noteholders who ended up having to pay legal fees associated with discoveries of rampant fraud...".
Mind you, it's becoming increasingly apparent that the REMICs never actually received an enforceable interest in the alleged notes.

More organic matter; bigger oscillating rotator.

26 October, 2010

We're Almost There...


"Here's the problem: If the people get into their head that not only politicians can do this sort of thing and get away with it when it comes to things like traffic tickets, but banks can literally rob the people with predatory lending and then enlist the courts to screw them a second time in unjustly evicting them from their house, there is a point where they will snap.

"That point is where people vote from the rooftop."

"Shhh! We need time to arrange another, distraction."

JPMorgan, BofA, and Citi, Plead To Keep Bailout Details Secret

An interesting claim byBofA, Citi and JPMorgan, et al:

"The central bank has never disclosed the identities of borrowers since the creation in 1914 of its Discount Window lending program, which provides short-term funding to financial institutions...".

So, if the Fed could "provide
short-term funding to financial institutions" since 1914, why did "The Great Depression" even happen?

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