Socialism Gone Apeshit: Obama Wants To Use Proceeds From $20 Billion Fraudclosure Settlement To Reduce Underwater Mortgages

Tyler Durden's picture

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nope-1004's picture

No doubt Geithner had something to do with this.


silver_serf's picture

This is bullish for equities

txapela's picture

this is bullshit for capital markets, the country, the hemisphere, the globe, the race and all crab people alike.

Mr Lennon Hendrix's picture

The fiat system goes round and round.  Gold/Platinum/Oil at key resistance levels and so are the respected corporations equity.  Hess and ABX are at resistance and these two corporations mimic spot better than any.  Silver has already broken out and SLW has as well.  The next move has started and will end at DXY 66.

zaphod's picture

Welcome to the Roman republic's conversion to empire.


panem et circenses


Crab Cake's picture

... ww3. Humanity is walking the knife's edge of transendence ala the singularity, and an extinction level event. Place your bets.

Crab Cake's picture

... ww3. Humanity is walking the knife's edge of transendence ala the singularity, and an extinction level event. Place your bets.

thefatasswilly's picture

World War III will not involve nukes. Please stop living in the past, and try thinking from the point of view of an elite.

Nukes are an outdated technology. They were invented before computers. Many, many forms of destruction have been invented since then.

All elites know that any usage of nuclear weapons will inevitably result in M. A. D. This is highly undesirable for an elite, who enjoys all the privileges of being on top.

The individuals with power will instead opt for newer, slightly less destructive (oh, the irony) weapons, such as biochemical weapons. These weapons will wipe out many peasants and serfs, but will allow the nobles to remain safe from harm.

Human extinction? What a ridiculous notion. Even IF nuclear weapon exchange were initiated, enough humans would survive to fuck and allow the continual expansion of the race. YOU would most likely die (even in the case of biochemical warfare), but humanity as a species would be quite safe.

savagegoose's picture

im pretty sure just about anyone with nukes could nuke the capital of libya, and it wouldnt result in the end of the world. MAD only works if the 2 sides involved have enough nukes to actually end the world. . how about nth korea and sth korea they could toss a  few at ea other and im pretty sure the world wouldnt be destroyed.

now idia and pakistan, maybe they have enough for a live extinction event.

savagegoose's picture

im pretty sure just about anyone with nukes could nuke the capital of libya, and it wouldnt result in the end of the world. MAD only works if the 2 sides involved have enough nukes to actually end the world. . how about nth korea and sth korea they could toss a  few at ea other and im pretty sure the world wouldnt be destroyed.

now idia and pakistan, maybe they have enough for a life extinction event.

CJLopez21's picture

i agree. elites know that the ultimate weapon over a people is resources. Food, water, land, etc. If you control all food, water, land and energy. money is irrelevant. people will submit out of survival instincts. They wont let resources get destroyed to the point where it cant replenish itself.


Overflow-admin's picture

Biochemicals? Really, that's ridiculous. Just take a look at the number of owned weapons per person per country. What's the cost of a bullet (not a silver one)? Here's your WWIII setup.


Do you think any leader can hold that? Look at Lybia: I'm sure that as much airstrikes as they can isn't enough to stop angry mobs.

Freewheelin Franklin's picture

Efficiency and progress is ours once more
Now that we have the Neutron bomb
It's nice and quick and clean and gets things done
Away with excess enemy
But no less value to property
No sense in war but perfect sense at home:

The sun beams down on a brand new day
No more welfare tax to pay
Unsightly slums gone up in flashing light
Jobless millions whisked away
At last we have more room to play
All systems go to kill the poor tonight

Kill kill kill kill Kill the poor:Tonight

Behold the sparkle of champagne
The crime rate's gone
Feel free again
O' life's a dream with you, Miss Lily White
Jane Fonda on the screen today
Convinced the liberals it's okay
So let's get dressed and dance away the night

While they:
Kill kill kill kill Kill the poor:Tonight

Michael's picture

Is 90210 included in the scheme?

Beverly Hills real estate selling for 1989 price levels – Southern California two bubbles. Home sold for $920,000 in June of 1989 and has a pending sale at $920,000 today. 1 MLS foreclosure versus 100 in the shadow inventory.

"The negative year-over-year price trend in Southern California is not surprising.  The overall market is still inflated and delusion still runs rampant.  If you follow previous historical manias the true bottom is usually reached when most of the public concurs that said object of mania is rejected nearly at all price levels.  We are nowhere near that level of capitulation.  The next phase is bottom investors picking up homes in lower priced markets.  30 percent of sales last month in SoCal involved all cash buyers picking up homes for a median price of $190,000.  Yet a fascinating thing that is now occurring is the places to hide are getting smaller and smaller.  There are many psychological trends that have hit in this bubble and the one that seems to remain is the one of selectivity in niche markets.  There are only a handful of people that now say “well that isn’t the best part of the 90210 or San Marino will not go down.”  Well it will go down but nothing that you will be able to afford!  The other 98 percent of areas where people live prices are adjusting and in many mid-tier markets.  These delusional folks somehow think they are going to buy a million dollar home on a low six-figure salary (or even less).  Champagne taste with a beer budget.  Today we see a home in the 90210 zip code that is now back to 1989 price levels."

Michael's picture

Download VUZE torrent downloader.

Search "Inside Job" narrated by Matt Damon(cough) about the housing bubble bust and bail-outs. Very good explanation.

I watched it last night and was not disappointed. 

Michael's picture

News Flash;  Bribery only works for so long.

Saudi’s $36bn bid to beat unrest

"King Abdullah of Saudi Arabia announced financial support measures, worth an estimated SR135bn ($36bn), in a bid to avert the kind of popular unrest that has toppled leaders across the region and is now closing in on Libya’s Muammer Gaddafi.

The measures include a 15 per cent salary rise for public employees to offset inflation, reprieves for imprisoned debtors, and financial aid for students and the unemployed."


I think I need to buy a gun's picture

They can take their 2000 and stick up their ass I'm out of the current economy except for buying food gold and silver and yes I work from home so I'm not even going to fill up on gas.

Michael's picture

News Flash: Thank You Federal Reserve for exporting US Inflation.

Thousands protest against high food prices in Delhi

"Thousands of people have gathered in the Indian capital, Delhi, to take part in a rally to protest against rising food prices and unemployment.

A steady stream of protesters, carrying red flags, has been marching through the streets of central Delhi since early morning.

The rally has led to massive traffic jams in the city.

Trade unions who have called the rally say nearly 40,000 people will attend a meeting at the Ramlila grounds.

Thousands will then march to parliament, they say."


Troll Magnet's picture

goddamn...i'm running out of popcorn!


RoRoTrader's picture

You put out some pretty good stuff. M.....looking at an OIL chart (D) the RSI is over 70 and Slow Stoc looking to crossover at around 90........every othe rtime this combinatio occured back to Apr 2010 there was resistance and at least some selling.

Also, in this instance a price over $100, especially a sustained price above $100/b brings NO good news for the FED.

Contrarian call but looking to short into $100 and target $95. Stp loss at $102.50.

Maybe wrong, but that is trading and King Abdulahhulabula wants prices to pullback along with the ME heat.

Michael's picture

Thanks RRT.

Oil will keep going up till the eco-fascists in the US capitulate and allows us to develop our own proven reserves that have been kept secret but now revealed. Oil will hit $150 by summer.

I even heard Cramer(Argg) talk today about the Dakota reserves on CNBC, on mute of course, news scroll.

RoRoTrader's picture

You may be right......have thought about the $150 number and if the ME lights up like a social tinderbox then it is probably higher, and in quick order.......if social order breaks down all bets are off.

However, KingA is obviously working to stem that tide and has taken a very measured approcah to halt contagion into SA.

Also, it is probable that that a military lockdown of critical OIL producing/refining assets has already been put into place.

My best guess is that Kadaffi is probably already negotiating a seaside cottage on a remote Atlantic shore in Scotland with Shell.

The other part of that deal is the sustained price of OIL over $100, and the risk it brings into the American political equation.

Again, maybe I am wrong but I do not think the FED can afford it either politically or socially.

Tone conveys meaning and Thomas Hoenig is putting up the tone, and spelling out the meaning in a speech made only today.

I think Hoenig can rally the dollar and not just the dollar, but also America and American power. I bought USD/CHF just over the low of 0.9275.



Michael's picture

Hoenig, a rat fleeing a sinking ship trying to retain some credibility. These banksters will be strung up by the balls. The unrest in the US starts with the spring thaw and weather gets better. Picketing of the Federal Reserve will make news headlines. The dam is breaking. Dollars will be dropped from helicopters to try to keep the rabble at bay. It will not work. The masses are onto their game.

RoRoTrader's picture

Not in disagreement with that take, but willing to let it play out.

Hoenig has clearly stepped up and can rally the dollar with that kind of statement just as the Europeans have been lately with rhetoric over implying higher interest rates.

Hoenig is striking a deep cord, and is taking the counter position to the current political/monetary policy.

Americans are looking for leadership. What I read from Hoenig today is the closest that has come in a long long time.

The underlying messgae is step up and take responsibility.

If I am wrong then I pay by the price of my trades.

Questionmark's picture

U.S. oil production peaked in 71. Good luck ever getting anywhere near those levels again. Price will keep rising until everybody is back to traveling by horses.

andybev01's picture

Or you could wait 2 weeks and BUY THE DVD.

Xkwisetly Paneful's picture

Did a great job explaining it!

Didn't mention the double line around the world to buy worthless credit instruments nor any government culpability.


File it under another hollywood liberal scumbag talking out of his ass.


Nothing better on the planet than some moron bolstering his own moronic views with a littany of moronic material.

4ndy's picture

I agree, I watched it about 3 days ago. I nearly tossed my computer out of the window.

chunga's picture

Here's a link to either download or view "Inside Job".

I watched the whole thing and what irritated me most was the outright arrogance of the players.

vxpatel's picture

News flash genius:

920,000 is a fuckload of money, to the chinese, who have all our money.

Go back to sleep sheeple.

QQQBall's picture

You saying he is first in line for a "mod" on his shack in NY?

CH1's picture

buzzsaw, get another icon, PLEASE. That thing is disgusting!

Commander Cody's picture

Total Recall dude.  And yours is so cute!

Bearster's picture

Bennies for millions of homeowners begging for a handout.  Check.

Under the table bailouts for the banks.  Check.

Populist political theater.  Check.

Taxpayers and holders of dollars to pay the tab.  Check.

Total cost unknown.  Check.

Unintended consequences unknowable.  Check.

What do you mean what the fuck??

MarketTruth's picture

VIDEO: Obama pay for gas and mortgage. Looks like she is right!

Michael's picture

Ron Paul is waiting for maximum economic pain this year before he announces his candidacy for President 2012. That time is almost here.

Seer's picture

Ron's candidacy is DOA, as he isn't a conduit to big corporate interests.

4ndy's picture

if he's not, than after he's elected, he'll be.

Voluntary Exchange's picture

@ Seer & Michael:


I can understand Michael's enthusiasm for the "Doctor of the House".  This man has lived a productive and honourable life and is led by principle.  He remains the only politician I have ever given dollars to. But I will no longer support any politician again in any election including dear Ron. Let me explain.

Trying to get Ron at  the head of the US government is like trying to get a decent person to head up the mafia.  If you can do it by some miracle, you will not succeed in permanently stopping what the mafia does. You might slow it down for a while. Is this what you want to do, just slow it down? I want to end organized crime all over the world and I do not presume to do it by controlling an organization that survives through crime. This is a logical contradiction.

I submit to you and all my fellow Americans that the US government is founded at the very beginning in crime and thus is a magnate for those of criminal intent.  It is staring you right in the face:  "Congress shall have power to lay and collect taxes...".  (Please have some fun and watch: - "I'm allowed to rob you!").

What are things that NON-PARASITICAL people think they need "governments" for?   They want to be able to live productive lives without being prey to the Liars, thieves, and those who choose force to impose their will on others, (security).  They want to be able to live by voluntary exchange and not be victims of crime. They want a way to peacefully resolve the disputes that humans are prone to get into, even with their fellow non-parasitical neighbors (adjudication/arbitration).  


Because of the way Americans have been raised and educated, (often by the state), they think that it is impossible to have order in a society without what they call "government".  To gain insight  how this idea is flawed in its conception it is  useful to restate what a "government" is in terms that the victims of "government"  might be able to grasp in a new way by referring to governments by the key "services" they claim to provide:  A "government" is a monopoly of legal force/enforcement and adjudication/arbitration in a certain geographic area.  What people think of as "government" is only a tool to provide services and there is nothing magic about these services.  Because such a monopoly will always serve as a magnate to those who wish to live by crime, giving a monopoly of "legal" force or adjudication to ANY entity is a recipe for violence, theft and fraud. Also a monopoly can not possibly serve the needs of all legitimate "customers" and must therefore impose its choices on those who disagree with aspects of its policies and would not support the government unless the FIRST USE OF force or threat of force were involved.


When you clearly come to understand what all "governments" are you understand that trying to get your man at the "head" of the "mafia" is not the proper way to be safe and live in peace! You must put an end to the "mafia"!  It is not impossible. it has been done on this planet a number of times before.  Please study early Irish, and Icelandic history for some ideas on this. If you keep trying to take over your local "Mafia" is not going to get you where you want to go, and you will thus waste time, and resources if you try to do this, and avoid the real problem.


What you need to do is obtain security/enforcement and adjudication/arbitration services from non-monopoly providers who must "win" their "election" by you as individual customers for their services on an individual basis every day of the year.  This is the perfect "election" for every non-parasitic person on this planet because your purchase is equivalent to your "election" of your service provider that you think will best fit your needs. You can't "loose" this election, you can only "win".  It is the best solution because if the entity starts acting criminally you can stop purchasing their services and choose another.  You retain your power this way! You forever keep the key "power of the purse" this way. Such a system of many service providers dispersed throughout a society does not result in disorder or chaos, but rather cooperation.  Such a system is called "voluntarism".


If you are capable if seeing outside the box then you might also check out the following links to start rehabilitating your thought processes:



silver_serf's picture

For Ron's sake, I hope he stays away, he would become the patsy for the criminals in Washington.  Really though, who is going to step in front of this train

Michael's picture

The train wreck happens just before the 2012 election. Dr Ron Paul will be seen as the smartest man in the country as a result.

Harmonious_Dissonance's picture

The train wreck happened in 1913.

faustian bargain's picture

then engine crashed then, but the coach cars at the end of the train are only now derailing.