Shrnutí Jima Willie – Jim Willie Summary
SOME FINAL COMMENTARY, WRITTEN BY THE JACKASS WITH GREATLY MIXED EMOTIONS. THEY ARE SADNESS, SHOCK, DISAPPOINTMENT, SHAME, EXCITEMENT, SATISFACTION, DISGUST, ANGER, DISBELIEF, AND DESIRE FOR JUSTICE. SYSTEMIC FAILURE IS IN PROGRESS BEFORE YOUR EYES. ITS DRIVING FORCE IS BANKER CRIMINAL BEHAVIOR. SEVERAL MONTHS FROM NOW, CALLS WILL COME FOR NUREMBERG BANKER TRIALS. THE NATION IS AT RISK OF MARTIAL LAW FROM CHAOS. THIS IS MY OWN VIEWPOINT. $$$
The kiss of death is the fraudulent MERS title vehicle. Later, the kiss of the funeral coffin will be the fraudulent REMIC finance vehicle. The class action lawsuits just received a huge energized positive push. A systemic risk to the US financial system from the foreclosure scandal is more than acute, since stark, public, and obvious. In time this could lead to a big bank shutdown holiday within the next couple months, like Christmas or before February. The invocation of RICO in civil lawsuit actions taken opens a grand door to threaten the very existence of Wall Street. Its call will force extreme pressure on the USCongress to water down the provisions of RICO asset seizures, or to pave the way for ex-post-facto bond fraud forgiveness. The fraud has been a constant in US finance, including the USGovt. The states versus the federal government could be the ultimate battleground.
The scandal is going viral in my view, possibly to result in a global boycott of USTreasurys, but starting with a boycott and dumping of USAgency Mortgage Bonds. If the truth of premedicated fraud with concerted coverup is exposed, understood, and accepted, the USTreasury and USDollar will collapse within a month or two. The site of greatest risk is Fannie Mae, being the collector of toxic waste in bond securities. If mortgage bonds are declared worthless by the courts, a tipping point for a USTreasury Bond default could be progress of occurring. The bridge to chaos is the potential for Civil Disobedience, people refusing to make their mortgage payments. If hundreds of thousands of home loan holders consult with lawyers to demand proper title before continuing to pay on mortgages, the chaos could accelerate. In a year, perhaps 50% of people will not pay their mortgage!! This is a potential systemic failure lever event in the making. Never lose sight of the fact that the USFed holds $1.5 trillion in mortgage bonds. If they are declared worthless, the USFed dies!! That could be the inroad to USTreasury default!!
A sense of reassurance comes to see at least three State Supreme Courts take action. They have imposed a moratorium freeze on home foreclosures. The states have been obstructed in their Tenth Amendment initiatives to separate from the USGovt over the Wall Street fraud and federal bailouts. However, imposition of state rights on foreclosure gives them the avenue to cut some cords. The properties lie in the states, which have direct jurisdiction. The cords are from Wall Street firms though in the challenged foreclosure cases. Given the tight linkage between USGovt finance ministry control by Wall Street, the state challenges to the USGovt authority can be more successful through the Wall Street front. If the USCongress forgives $trillion fraud in full view, the states might declare some unique independence from the federal system, on the basis of federally sponsored racketeering.
The US press is beginning to catch wind of the depth of fraud. Ten days ago, the anchors were saying only 10% of the documents were faulty. Therefore, a moratorium seemed out of proportion. One week later, they were openly questioning whether 40% to 50% of the documents were faulty. The media avoids the word FRAUD and prefers the word ERRORS. Recall the denial in 2007 over the subprime mortgage episode, and claims the bond market damage was limited. That lesson has taught the analysts and press networks alike that the true problem is likely much bigger than the banks admit. The other lesson is that the private analysts and media pundits have learned big lessons on the ineptitude of the USFed itself to detect problems and crises in advance. It is not clear that court spectacles will take place. The spectacles will instead be public demonstrations that could easily turn violent.
The battle will be inside the USCongress over sweeping amnesty of Wall Street firms. No potential exists for out of court settlements on a meaningful scale unless they are done in class action cases. Watch Fannie Mae, both a fraud participant but a potential recipient of mortgage payments in doubt. The big banks might be forced to assign rights over to Fannie Mae in resolutions, like in exchange for forgiveness of broad committed fraud. The most egregious Robo-Signed document was the Patriot Act, which in fact few legislators read admist coercion and vivid palpable threats. Most USCongress Bills are not read, just signed, since their marching orders are contained within, after the banks or insurance firms or defense contractors or pharmas write the bill. The systemic failure that the Jackass has written about in the last three years is coming to center stage, with broad recognition, and acceptance in shock.
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