Murder of the US Economy; Inside Job
Saturday, January 3rd, 2015 @ 3:36PM
The “Great Recession” of 2007!
Eight years ago the United States economy literally’ collapsed, brought about by the nationwide collapse of the Housing Industry, resulting in millions of people losing their homes in Foreclosure!
But what brought about the collapse of the Housing Industry?
A fair question! After all, it did lead to the worst economic meltdown since the Great Depression; and it did wipe out the dreams of millions and millions of people in the USA, coast to coast, and border to border! Contrary to what the people were told, the US economy has never recovered, and as the
The National Debt has more than doubled since 2008, having gone from $10 Trillion
dollars to over $22 Trillion dollars. (adding in $4 Trillion QE spending)
The Number of people relying on Food Stamps has increased from 27 to 47 million people.
The number of people living in poverty has skyrocketed to levels not seen since the
The “true” unemployment rate is over 21%.
Which is exactly why it is so very important that the American people learn the truth, and become knowledgeable as to what brought about all this suffering, which, as you will see was not only unnecessary, it was intentional!
The information provided from here on will identify, in great detail how, when, what, and who established the plan, and then executed it for the single purpose of “destroying” the US economy, which will lead to the why!
Background: Since the Great Depression (1929 – 1939) the Housing Industry established itself as the “backbone” and “foundation” of the US Economy, partly aided by the governments establishment of the Government Sponsored Enterprise; Fannie Mae (Federal National Mortgage Association) in 1939, providing the banks who made the home loans a secondary market in which they could “sell” any existing loans which therein turn allowed them to make new home loans.
The caveat however was that Fannie Mae “established” the criteria as to which “home loans” would qualify for their purchase, in essence; they would only purchase what would be considered AAA loans, that is; the borrower had made a down payment, had a strong credit rating, provided the necessary documentation validating their ability to repay the loan, etc., which, for almost 60 years was the standard operating procedure. Fannie Mae, as a result established itself as one of the highest “Credible” Financial Institutions in the world!
If an entity or group of people were interested in destroying the United States of America, they would have to devise what the best strategy to do so would be! Since the United States was the wealthiest nation on earth, it would only make sense to attack the economy first, and if your goal was to destroy the economy, you would have to focus your assault on the “backbone” of the economy, which of course was the Housing Industry!
But how would you destroy the Housing Industry? Hmm, well, let’s see, what if they used the exact same strategy as was used to bring about the Great Depression, that is; entice the people to indebt themselves by providing them with easy credit, irregardless of their ability to repay, and encourage people to spend, spend, and spend. Then, when a tremendous amount of debt had been incurred, and a large number of the banks over extended themselves immediately short supply the monetary base in the market, and then sit back and watch as one bank after another goes under, and the people start losing everything they own.
Who in the world has the power to bring about that kind of madness, and why would they do it in the first place?
The Federal Reserve Bank, along with its sister corporations of course, whose sole purpose for being in existence is to confiscate all the wealth away from the American people, and into its own hands; the moneychangers, the European Bankers, which the Federal Reserve Bank, Goldman Sachs, JP Morgan, B of A, and a host of other Financial Corporations in the USA are all a part. We the People excluded of course!
Yes, Congress, in 1913 betrayed the people of the United States when they enacted the Federal Reserve Bank Act in the wee hours of the night on December 24, 1913, when nary a soul was paying attention! For over 100 years now the privately owned Corporation has sucked over $50 trillion dollars out of our economy into their personal bank accounts around the world, leaving the American people in “perpetual” debt, just as Thomas Jefferson attempted to warn them:
“If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”
The Federal Reserve Bank in the USA has total control over our economy, as they dictate the policies which determine whether we are in a deflation or inflation mode, how much currency is released into the markets, and what the interest rates will be. They control the money, which means they are in control!
As Mater Amschel Rothschild, founder of the Worlds Central Banking system stated “Give me control of a nation’s money supply and I care not who makes the laws.”
The Federal Reserve Bank was in fact “one” of the “4″ key elements utilized in carrying out the egregious plan to destroy our nations economy, the other 3 included Fannie Mae, the Community Reinvestment Act legislation, and the Repeal of the Glass-Steagall Act.
Thus far, we have introduced who Fannie Mae is, and have touched on how the Federal Reserve came to be, so let us quickly introduce the Community Reinvestment Act legislation, along with why it was important to repeal the Glass-Steagall Act in order for those in the US Federal Government to successfully topple the US Economy.
The CRA (Community Reinvestment Act) is a piece of legislation first enacted by Jimmy Carter in 1977, which focused on coercing the Savings and Loan Banks; which were the only form of bank allowed to make home loans, as established by the Glass-Steagall Act. Jimmy Carters intent was to pressure private sector banks into making home loans to poor minorities, irregardless of their ability to repay the loans. With the election of Ronald Reagan in 1980 it would be another 15 years before the CRA would once again become an issue, only this time it would be President Bill Clinton who re-enacted the Community Reinvestment Act, however, this time a “mandate” would be incorporated which literally “forced” banks into making a certain percentage of their home loans “Subprime” loans.
The Federal Reserve, along with President Clinton devised what at first was affectionately, but later became infectionately referred to as the “subprime” home loan. The objective was to devise a way in which a home loan could be made to a low income minority, with no credit established, no income, and no cash, yet make it affordable for them to meet their monthly mortgage payments “at least” for the first term of the “variable” rate home loan. In other words, if they could keep the payments during the first 3 to 5 years of the loan equivalent to what the rent would be on a one room apartment in the low rent district, the borrower, at the very least would not go into default, and foreclosure for at least that many years.
This was a vital aspect of the plan, for they understood full well that once the first round of Subprime Home Loans were made, it would only be mere months before they all went into default, thereby bringing the entire Subprime Home Loan Scheme to an end long before “enough” of the toxic loans would be in place necessary to “destroy” the economy. A few thousand of these toxic loans wouldn’t even cause a hiccup in the US economy! Therefore, they needed at least a 3 year “delay” from the time each loan was made until they began the path to failure, which the Subprime Variable Rate loans accomplished!
Without question, Fannie Mae played the most crucial role of all in the Scheme! Even if all the other aspects of the plan were perfectly in place, the entire plan would fall flat on its face if Fannie Mae did not play out their role to a tee! For nearly 60 years Fannie Mae never compromised when it came to what “qualified’ as a loan they would purchase, that is, until Franklin D Raines was appointed as its CEO by President Bill Clinton in 1998! Then, out of the blue, Fannie Mae announced to the banking world their new willingness to purchase any and all “Subprime” Home Loans irregardless of the borrower’s credit, income, ability to repay, or citizenship for that matter.
As stated, Fannie Mae was the key to insuring that millions of the Subprime Toxic Loans could be made before the “crap” hit the fan and the entire US Economy would begin its descent into the Abyss. Additionally, as an unintended consequence, and unavoidable factor of the Scheme, Fannie Mae is the smoking gun, they are the “proof positive” that the Federal Government was the evil enemy behind this assault. For not one bank in our nation would have been able to make more than just a few of these loans before realizing that they would have no way to unload them, after all, they were worthless loans.
Let us summarize what we have established thus far, first, we know that the Federal Reserve, the US Federal Government, and Fannie Mae were all key participants in carrying out the Subprime Home Loan Scheme. We also know that Franklin D Raines, the CEO of Fannie Mae, was appointed as such by President Clinton in 1998.
So let’s go back in time a bit and see when President Bill Clinton first set the plan into motion! The year was1994 when Bill Clinton initiated what he called “The National Homeownership Strategy: Partners in the American Dream” Plan. He then directed Secretary of HUD (Housing Urban Development) Henry Cisneros to come up with a “plan” where low income minorities could obtain a home loan irregardless of what their financial situation was! In 1998 President Clinton imported Andrew Cuomo into HUD, who became known as the architect for the no credit, no cash, no citizenship, no problem home loan creator.
By this time President Clinton had already re-enacted the CRA, along with its egregious “mandate” to shut down those banks who dare refuse to make these toxic loans. Furthermore, President Clinton’s repeal of the Glass-Steagall Act was a yet another vital aspect in his quest to destroy our economy, by repealing this Act every bank and/or lending institution would be allowed to make home loans, which previously was restricted solely to Savings and Loan Institutions. This meant that massive numbers of these loans could be made in a very short period of time, increasing the probability that enough toxic loans could be in place before the crisis came to surface, which would then be too late to stop the devastation.
Woefully, the Subprime Home Loan Scheme Plan was executed flawlessly, it accomplished everything it was designed to! Killing the Housing Industry led to the destruction of the “Private Sector” (Non Federal Reserve) Financial Industry, and the Building Industry. Thousands upon thousands of small businesses tied to the Housing Industry went under; including; Plumbing, Electrical, Flooring, Roofing, Lumber, Concrete, Drywall, Insulation, Framing, HVAC, et al, sending over 7 million people into the unemployment lines.