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Guest Post: The Smog Of Fraud

Tyler Durden's picture




 

Submitted by James Howard Kunstler of Kunstler.com,

Team Obama pulled a cute one last week nominating Blythe Masters, JP Morgan’s commodity chief, to an advisory committee of the Commodity Futures Trading Commission (CFTC) which supposedly regulates activities on the paper trades in corn, pork bellies, cocoa, coffee, wheat, corn — oh, and gold, too, by the way, in which JP Morgan has been suspected of massive gold (and silver) market manipulations and other misconduct lately. That would include the 2011 MF Global Fiasco in which nearly a billion dollars from “segregated” customer accounts somehow ended up parked over at JP Morgan as a result of bad derivative bets on tanking Eurozone bonds. MF Global, primarily a commodities trading brokerage, was liquidated in 2011. The CFTC never issued referrals for prosecution to the Department of Justice in the matter and, of course, MF Global’s notorious CEO, Jon Corzine remains at large, enjoying caramel flan lattes in the Hamptons to this day. Such are the Teflon transactions of the Obama years: nothing sticks.

There was such a Twitter storm over Blythe Masters that she withdrew from consideration for the committee before the day was out.

JP Morgan is one of the specially privileged “primary dealer” banks said to be systemically indispensible to world finance. Supposedly, if one of them is allowed to flop, the whole global matrix of global debt obligations — and, hence, global money — would dissolve in a misty cloud of broken promises. They are primary dealers to their shadow partner, the Federal Reserve, and their main job in that relationship is buying treasury bonds, bills, and notes from the US government and then “selling” them to the Fed (earning commissions on the sales, of course). The Fed, in turn, “lends” billions of dollars at zero interest back to the primary dealers who then park the “borrowed” money in accounts at the Fed at a higher interest rate. This is, of course, money for nothing, and even small interest rate differentials add up to tidy profits when the volumes on deposit are so massive.

This “carry trade” was started because the primary dealer banks were functionally insolvent after 2008 and needed to build “reserves” up to some level that would putatively render them sound. But that was a sketchy concept anyway since accounting standards had been officially abandoned in 2009 when the Financial Accounting Standards Board (FASB) declared that banks could report the stuff on their books at any value they felt like. In short, the soundness of the biggest banks in the USA could no longer be determined, period. They were beyond accounting as they were beyond the law. At the same time, the banks began the operations of shifting all the janky debt paper, mostly mortgages and derivative instruments (i.e. made-up shit like “CDOs squared”), value unknown, from their vaults to the a vaults of the Federal Reserve, where it resides to this day, rotting away like so much forgotten ground round in the sub-basement of an abandoned warehouse of a bankrupt burger chain.

All of these nearly incomprehensible shenanigans have been going on because debt all over the world can’t be repaid. The world’s economy, as constructed emergently over the decades, can’t function without repayable debt, which is the essence of “credit” — the fundamental trust implicit in banking. You have “credit” because other persons or parties believe in your ability to repay. After a while, this becomes a mere convention in millions of transactions. What’s happened is that the conventions remain in place but the trust is gone. It’s gone in particular among the parties deemed too big to fail.

Everybody knows this now and everybody is trying desperately to work around it, led by the Federal Reserve. Trust is gone and credit is going and debt is sitting between a rock and a hard place with its grubby hands pressed together, praying that it will be forgiven, forgotten, or overlooked a little while longer. By the way, the reason trust and credit are gone is because oil is no longer cheap and world economies can’t grow anymore. They can’t afford to run the day-to-day operations of a techno-industrial society. They can only pretend to afford it. The stock markets are mere scorecards for players who can only lie and cheat now to keep the game going. Somewhere beyond all the legerdemain and fraud, however, there remains a real world that is not going away. We just don’t know what it will look like when the smog of fraud clears.

 

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Mon, 02/10/2014 - 15:20 | 4420625 cougar_w
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2014 is shaping up to be a very interesting year.

But not in a good way.

Mon, 02/10/2014 - 15:21 | 4420632 NotApplicable
NotApplicable's picture

Free Jon Corzine!

Mon, 02/10/2014 - 16:01 | 4420822 Troll Magnet
Troll Magnet's picture

HONORABLE!  You forgot HONORABLE!!!

Mon, 02/10/2014 - 17:06 | 4421082 LMAOLORI
LMAOLORI's picture

 

 

He's been FREED !!! 

Mon, 02/10/2014 - 20:20 | 4421916 Joe Sixpack
Joe Sixpack's picture

Fraud comes in many forms:

 

http://bit.ly/LPX1XE

Mon, 02/10/2014 - 15:23 | 4420634 LawsofPhysics
LawsofPhysics's picture

< meh >, I see people are still accepting the banks paper promises in exchange for the fruits of their labor and the supply lines for essential commodities is still holding...

When there is no food, fuel, or electricity being delivered to those major cities, then, and only then, something might change.

not before.

same as it ever was...

Mon, 02/10/2014 - 15:28 | 4420647 cougar_w
cougar_w's picture

What will be interesting about it is the long, slow screaming descent into comprehension that will surely start to grip the American psyche long about August. The stories we will then be telling each other -- about who did what, and who is going to pay for it -- will say much about who we really are as a people.

Mon, 02/10/2014 - 15:36 | 4420689 LawsofPhysics
LawsofPhysics's picture

Indeed.  There is a reason gated communities continue to become popular.

Mon, 02/10/2014 - 17:03 | 4421077 Stuck on Zero
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Gated as in San Quentin?

 

Mon, 02/10/2014 - 15:42 | 4420720 Carpenter1
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I would gladly pay 20k(not a gram  in gold), for this to be at the point where its no longer deniable and is hurting everyone enough to make delusion difficult. 

Mon, 02/10/2014 - 15:45 | 4420743 BandGap
BandGap's picture

Some small place - a town, a municipality, a community - will take control and not follow the marching orders from TPTB, the Federales. It won't necessarily work, might even fail miserably. But if people find out and see, if people start thinking that like minded individuals can band together and stand up......that's when the feces hits the blades. Slowly at first, then enough to knock over the fan.

The state of Utah is looking to shut off the power/water to the NSA complex. What if they succeed? For a day? For a week? What happens when brother is pitted against brother because the Federales send in troops?

There are more than a few places in this country....

Mon, 02/10/2014 - 15:53 | 4420776 cougar_w
cougar_w's picture

An interesting thesis. I don't doubt you are correct. It will come slowly at first, and then, it will come all at once.

Mon, 02/10/2014 - 16:13 | 4420869 DoChenRollingBearing
DoChenRollingBearing's picture

Could it be that Utah start something big by standing up to the NSA and the federal government in general?

Slowly at first, then all at once.  We have seen this kind of thing before.

Mon, 02/10/2014 - 20:44 | 4421994 vulcanraven
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I would like to believe that there are still many courageous people in this country who are just waiting for the real groundswell to begin.

Like you said, it starts with a few drops and then the flood comes

Mon, 02/10/2014 - 20:44 | 4421996 acetinker
acetinker's picture

Yes. Ruby Ridge and FLDS.

Mon, 02/10/2014 - 15:59 | 4420811 LawsofPhysics
LawsofPhysics's picture

"The state of Utah is looking to shut off the power/water to the NSA complex." -

Got a link or credible source for that statement?

Texas, Arizona, Montana, and Utah have all made physical PMs legal tender.  All states have great resources.  My thesis is that it will start there.  I see several southern states joining texas and then things getting interesting.

This is not an unreasonable thesis.  The same thing happened when the soviet union (and the ruble) collapsed.

Mon, 02/10/2014 - 16:17 | 4420884 Sofa King Confused
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offnow.org

Mon, 02/10/2014 - 16:30 | 4420944 LawsofPhysics
LawsofPhysics's picture

Wake us when the Utah legislature or even one Utah representative gets behind it.

Mon, 02/10/2014 - 16:53 | 4421033 Sofa King Confused
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Even if they do pass a bill, Utah gets a lot of money from fed gov. They won't rock that boat.

Mon, 02/10/2014 - 20:43 | 4422005 vulcanraven
vulcanraven's picture

Not sure if you guys have seen this, but it's relevant

http://benswann.com/breaking-maryland-legislators-move-to-kill-nsa-headq...

Tue, 02/11/2014 - 04:41 | 4423107 SmittyinLA
SmittyinLA's picture

Small place?

Try Detroit

You following the swap shenanigans?

Not only will the Detroit "swap investors" not get any additional loot and their promised vig, they may have to give back some of their already stolen loot.

"We did it in collusion with city officials and lawyers" ain't a legal defense.

Mon, 02/10/2014 - 15:51 | 4420778 scrappy
scrappy's picture

Why wait until we are weaker?

This will clear smog, bigtime.

http://www.nationallibertyalliance.org/

If we convene a Common Law Grand Jury, the people will come.

Join us.

http://www.nationallibertyalliance.org/what-happend-constitution

Mon, 02/10/2014 - 15:25 | 4420637 TideFighter
TideFighter's picture

Everyday, I wish more people knew, but I know they don't. I start the discussions...I get blank looks....I go back to sports and tv conversations. WE ARE FOOKED!

Mon, 02/10/2014 - 15:32 | 4420672 cougar_w
cougar_w's picture

I think the blank looks are the best part. At some point, your only real personal hope is knowing that so many other of these fuckers are TSTL.

Mon, 02/10/2014 - 15:38 | 4420702 Carpenter1
Carpenter1's picture

Same here. We must be fools now, but they will be the ultimate fools when this comes down. And when it does, I will give the same blank looks back to them when they come asking for a hand out.  

 

 

Mon, 02/10/2014 - 15:58 | 4420807 BandGap
BandGap's picture

Not for me. I generally hang out with the 50+ crowd. Many of us have had parents, aunts, uncles who lived through the last war. Some even lived through the last depression. 

Everyone I have spoken to of late "gets it". Even people that used to give me the zombie stare. It takes different amounts of time to sink in for different people. But there is less substance to deny that the world is heading down the shitter.

Two of my aunts are taking a self defense class with my wife. They liked the Glock 19.

Mon, 02/10/2014 - 17:02 | 4421074 Anusocracy
Anusocracy's picture

I find that the vast majority of the people that I meet are immune to reality.

 

Their minds are wired to function in the past and they want to make sure that past exists in the present.

Mon, 02/10/2014 - 17:47 | 4421230 KnightTakesKing
KnightTakesKing's picture

+1 but you must live in fly-over country. People in the affluent coastal areas have no freaking clue. There's a general anxiety but no one is even remotely prepared.

Mon, 02/10/2014 - 15:47 | 4420750 rsnoble
rsnoble's picture

I fucking hope so the suspense is killing me and battering my emotions to the point im not sure if I can handle this gradual let down for the next 30 years im hoping someone gets the shit stick out soon!

Mon, 02/10/2014 - 17:20 | 4421129 madmax1965
madmax1965's picture

I concur rsnoble, knowing what is going on is driving me insane!  Bring it already, while i am still young enough to be of use to my children!

Mon, 02/10/2014 - 18:07 | 4421344 ZH Snob
ZH Snob's picture

the level of this fraud is truly astounding.  it is in our blood, our tv and our breakfast cereal.  what to do when the very foundations of life are finally seen as the styrofoam they really are?  this country will suffer greatly in the coming years, but hopefully a redemption of spirit and integrity will follow. 

imagine the day when it will finally be more cost-effective to build things in America than to import them with our severly devalued dollar.

Mon, 02/10/2014 - 21:32 | 4422150 Omen IV
Omen IV's picture

Not a chance - zero, nada, nothing, zilch........less than squat!

Mon, 02/10/2014 - 15:22 | 4420626 Boris Alatovkrap
Boris Alatovkrap's picture

Fog of war... Both is contaminant bi-product of corrupt banking system.

Mon, 02/10/2014 - 15:24 | 4420642 Boris Alatovkrap
Boris Alatovkrap's picture

Second is thought... is not product of banking system, is central mechanism of banking system.

Mon, 02/10/2014 - 15:23 | 4420629 ArkansasAngie
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Insolvency is a bitch.

Turn off the loquidity hose.  No more TBTF.  No more bailouts.  Raise interest rates and let productive members of society get about making money the old fashioned way ... by earning it.

Mon, 02/10/2014 - 15:25 | 4420635 cougar_w
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As a bonus, you then get to watch the TBTF ripping each others' throats out.

Mon, 02/10/2014 - 17:06 | 4421078 LMAOLORI
LMAOLORI's picture

 

 

I would pay to see that it could be a pay per view event I bet it would rake in Trillions!

 

 

Mon, 02/10/2014 - 15:25 | 4420646 LawsofPhysics
LawsofPhysics's picture

Pushing paper (financial "services" and "banking"), is now around 40% of GDP.

As much as I wish all those fuckers were kicked to the curb, I don't see it happening as long as they still have K-street.

be happy, .223/.556 rounds are on sale.

Mon, 02/10/2014 - 15:43 | 4420736 ArkansasAngie
ArkansasAngie's picture

That 40% made up out of thin air

Mon, 02/10/2014 - 15:51 | 4420756 LawsofPhysics
LawsofPhysics's picture

Not at all, many sources (including shadowstats) have addressed the financialization of the American economy.  You might want to read up on shadowbanking as well.  I saw a nice inverse correlation between financialization (including the shadowbanking) and a decline in baltic dry.  They were claiming more the 50% of the world's GDP was bullshit paper-pushing, so I was skeptical.

Think about it, if the CDS "market" is now north of 700 trillion, what the fuck does that say about the true extent of paper-pushing bullshit.

My god Angie, pull your head out.

Mon, 02/10/2014 - 17:14 | 4421105 cougar_w
cougar_w's picture

I was hearing "40%" being the number about two years ago.

When you see that you begin to understand why The Bernank had to let loose the financial dogs of war; a sizable part of the economic activity of a nation was about to implode, vanish down a black hole never to be seen again.

If anything, the situation is more dire now than it was then.

Mon, 02/10/2014 - 15:29 | 4420658 BandGap
BandGap's picture

No one will trum off liquidity, they will drown in it. Water is essential to life but it can kill you.

It will take a spark, there are a lot of pissed off people out here. Don't think "all at once", think snowball effect.

Mon, 02/10/2014 - 15:28 | 4420644 TideFighter
TideFighter's picture

Sochied, bitchez! The criminals are in full control...

Mon, 02/10/2014 - 15:29 | 4420656 NoDebt
NoDebt's picture

Boy, are we all going to be disappointed when we're still having this same discussion in 20 years (just with bigger debt numbers).

Mon, 02/10/2014 - 15:31 | 4420678 Grande Tetons
Grande Tetons's picture

Just think in 20 years Fonestar will be 35.  

Mon, 02/10/2014 - 15:40 | 4420721 Skateboarder
Skateboarder's picture

That explains everything!

Mon, 02/10/2014 - 15:45 | 4420738 Emergency Ward
Emergency Ward's picture

Fonestar should be a multi-trillionaire by then.

Mon, 02/10/2014 - 19:56 | 4421832 Blano
Blano's picture

I was thinking 25.

Mon, 02/10/2014 - 20:52 | 4422035 acetinker
acetinker's picture

Gotta hand it to him, though.  He sure as hell made himself known.

Mon, 02/10/2014 - 15:29 | 4420661 Atomizer
Atomizer's picture

All Ponzi Schemes have a cycle until they implode. Just have a close look at the US Government in operation. They spent because it’s not their money. Seize their bank accounts, house, cars and foreign investments.. watch them talk like a nightingale..

Mon, 02/10/2014 - 15:32 | 4420673 LawsofPhysics
LawsofPhysics's picture

The problem of course being that "they" would have to "seize" their own accounts etc.   The corrupt/criminals are in control, they will never indict themselves.

Mon, 02/10/2014 - 15:40 | 4420708 Atomizer
Atomizer's picture

Don't be so sure. They crossed the line during emerging market investment. Watch the Clinton's become the first to learn a hard lesson. It will send out shock waves.

Mon, 02/10/2014 - 15:43 | 4420723 LawsofPhysics
LawsofPhysics's picture

Optimist.  I won't hold my breath.

Mon, 02/10/2014 - 15:58 | 4420805 Atomizer
Atomizer's picture

Watch the future News Headlines. Don't hold your breath for long periods of time. Will find yourself ineligible for ACA.

Mon, 02/10/2014 - 15:28 | 4420663 willpoi
willpoi's picture

Neverland

Mon, 02/10/2014 - 15:32 | 4420669 BandGap
BandGap's picture

Gold wasn't whacked today, silver is still on the plus side.

Somezing ist going on in The Force.

Yellen be Sellen some Jellen tomorrow. What if she goes with something no one expects?

One more thing - how the fuck did we give people such power over us without them having to be elected?

Mon, 02/10/2014 - 15:34 | 4420684 LawsofPhysics
LawsofPhysics's picture

How, simple, where the fuck have you been?

 

“Give me control over a nations currency, and I care not who makes its laws.”  ~Baron M.A. Rothschild


Mon, 02/10/2014 - 15:38 | 4420710 BandGap
BandGap's picture

Oh, I've been here and there, and places in between. Mainly hanging out, catching some rays, eating some cheese. I drive the tank, I don't fix 'em.

It's called a "rhetorical question", BTW. Just waiting for the threshold to be breached. TPTB keep testing the limits, turning up the volume on the TV.

"I am the liquor, Randy."

"Anger is an energy."

Mon, 02/10/2014 - 15:43 | 4420737 LawsofPhysics
LawsofPhysics's picture

Many were "waiting for the theshold" 100 years ago.  Those "unelected" fucks took the world to war and they will again.

hedge accordingly.

Mon, 02/10/2014 - 15:51 | 4420775 BandGap
BandGap's picture

I'm not waiting, I'm watching.

How would you have the human race avoid human nature? You and I realize this isn't something new and that resets happen across the span of human existance. What is this is part of the natural order of things? What if we are required to reset from time to time.

Just saying. I am both excited and saddened that I will be a witness to all of this. And I pray my children will be spared. But none of this is under anyone's control forever.

Mon, 02/10/2014 - 15:54 | 4420782 LawsofPhysics
LawsofPhysics's picture

Of course, hence, the "hedge accordingly."

Mon, 02/10/2014 - 16:01 | 4420817 BandGap
BandGap's picture

Same for you. It will be a very ineresting year, probably be starting up soon judging by the storm clouds.

Mon, 02/10/2014 - 17:17 | 4421115 Son of Captain Nemo
Son of Captain Nemo's picture

And it might very well happen while you're enjoying the Olympics in Sochi...  If you saw the antics of the U.S. Navy a couple years ago sending the U.S.S. Enterprise into the Med it's not far fetched. 

I wouldn't have contemplated this just a few years ago, but with everything we've seen our Government do in desperation I wouldn't put it past them to try another "U.S.S. Maine" in order to get the party started.

http://www.youtube.com/watch?v=bukmsg87EFI

Mon, 02/10/2014 - 15:35 | 4420690 Atomizer
Atomizer's picture

A system called Despotism disguised as Democracy.

Mon, 02/10/2014 - 15:52 | 4420770 message2gowri
message2gowri's picture

Your so called "Elected" involved if not then his "Party"!!

Mon, 02/10/2014 - 15:35 | 4420687 A Lunatic
A Lunatic's picture

Believe it or not it IS possible to have trust and credit without cheap oil. Trust and credit are gone because of CORRUPTION........

Mon, 02/10/2014 - 15:36 | 4420695 samsara
samsara's picture

Thanks Tyler.  

Oh, and we might forgive you for this weekend's article on Sochi and Putin  from the CFR.

Mon, 02/10/2014 - 15:46 | 4420728 JustObserving
JustObserving's picture

We just don’t know what it will look like when the smog of fraud clears.

Usually there is a bigger fraud to cover up the previous fraud.

On Sep 10, 2011, Donald Rumsfeld announces $2.3 trillion ($3 trillion today) were unaccounted for by the Pentagon.  Luckily for Rummy, an airliner/cruise missile hits the very same wing of the Pentagon that had all those computers and the accountants trying to trace that fraud:

The day after US Secretary of Defense Donald Rumsfeld announced that the military had lost $2.3 trillion, the accountants responsible for tracking the money were killed when American Airlines Flight 77 crashed into the Pentagon.

There were at least 80 cameras monitoring the Pentagon and to this date, the Pentagon has only released 5 frames from a single surveillance camera.  Every other film was fogged up.  Just more smog of fraud.

Mon, 02/10/2014 - 15:49 | 4420757 samsara
samsara's picture

Hmm.

when an un-determined flying aircraft  crashed into the Pentagon.

There fixed it for ya.

 

 

Mon, 02/10/2014 - 15:47 | 4420742 samsara
samsara's picture

The key sentence wasn't bolded. 

"By the way, the reason trust and credit are gone is because oil is no longer cheap and world economies can’t grow anymore"

If Oil was $10 a barrel the world would still resemble what it was back when it was $10 a barrel.

END OF GROWTH - The begininng years.

As a bit of history,  I once and awhile reread Richard Duncan's piece that he developed in the mid-1990's  Maybe off by 3-8 years.  but still one hellofa article for 2000.

Skip down to FIGURE #4. 

http://dieoff.com/page224.htm

(any old www.dieoff.com fans?  I mean the original site circula 2000-4 timeframe?)

Mon, 02/10/2014 - 15:55 | 4420797 cougar_w
cougar_w's picture

Nice.

Oh and at first I read that as:

END OF GROWTH - The begging years.

I think it was Chindit who wrote here that we need a devil because we cannot make a deal with randomness.

Begging years, indeed. But somehow I don't think the devil is going to go easy on us. Not even a little bit.

Mon, 02/10/2014 - 16:38 | 4420968 samsara
samsara's picture

Thanks Cougar. 

 (I wasn't satisfied with "The begininng years"  but my imagination went blank and I wanted to hit save)

Maybe "The Bargining Years"  from Kuber-Ross's 7 stages. (of course I don't have to tell you that.)

Great point made by Chindit (as usual). 

Mon, 02/10/2014 - 15:48 | 4420747 fijisailor
fijisailor's picture

"debt is sitting between a rock and a hard place with its grubby hands pressed together, praying that it will be forgiven, forgotten, or overlooked a little while longer."

Priceless

Mon, 02/10/2014 - 15:48 | 4420758 My Days Are Get...
My Days Are Getting Fewer's picture

Good article.  With the exception of your family and close friends, trust has died.  

Re-acquaint yourselves with 

 

Apocalypse Now

   Especially, the scene on the Vietnam/Cambodia border, where the bridge collapses and most everything thereafter lapses into scenes of fog and decay.   That is almost where we are now - in the Heart of Darkness
Mon, 02/10/2014 - 15:51 | 4420765 Duc888
Duc888's picture

 

 

"All of these nearly incomprehensible shenanigans have been going on because debt all over the world can’t be repaid"

 

You mean you can't repay debt with more debt indefinitely?

 

Blasphemy!

Mon, 02/10/2014 - 15:53 | 4420786 Duc888
Duc888's picture

 

 

Bandgap : "One more thing - how the fuck did we give people such power over us without them having to be elected?"

 

"Elections?  That's sooooooooooo Red Team / Blue Team of you.   The fix has been in for 30+ years.

 

But hey, if it makes ya feel any better keep voting and give them your consent to get ass-raped.

Mon, 02/10/2014 - 16:24 | 4420912 learning2
learning2's picture

A police report may be helpful if one finds the lender/banks/servicer is using 'materially altered' and/or forged documents. Check out this Florida Statute which was updated October 2013:

(3) A PERSON WHO SIMULATES LEGAL PROCESS, INCLUDING, BUT NOT LIMITED TO, ACTIONS AFFECTING TITLE TO REAL ESTATE OR PERSONAL PROPERTY, INDICTMENTS, SUBPOENAS, WARRANTS, INJUNCTIONS, LIENS, ORDERS, JUDGMENTS, OR ANY LEGAL DOCUMENTS OR PROCEEDINGS, KNOWING OR HAVING REASON TO KNOW THE CONTENTS OF ANY SUCH DOCUMENTS OR PROCEEDINGS OR THE BASIS FOR ANY ACTION TO BE FRAUDULENT, COMMITS A FELONY OF THE THIRD DEGREE, PUNISHABLE AS PROVIDED IN S. 775.082, S. 775.083, OR S. 775.084.

After the Court ruled against the Borrower who testified that their mortgage had another borrower added, after the closing, and the mortgage was notorized after the Borrower left the closing office; and the lender/banks/servicer stated that they didn't 'do it' (make the changes to the mortgage); and, the Judge said 'this is a void mortgage', the Judge ruled in favor of the lender/banks/servicer. The Borrower then called the local police and reported the crime which should be investigated (per the legal statutes & rules).

So, time will tell if this is a different avenue of action for borrowers to take. Hey, the 3 arms of the government are broken...fat chance this will bring justice either.

 

Mon, 02/10/2014 - 16:45 | 4420957 messymerry
messymerry's picture

THANKS! James for your unfiltered commentary.  Nothing here to take you to task for. 

Let me add to the depressing ideas put forth by this most excellent article. If you want to know exactly where we are on the timeline, review this chart and understand that technology is following the same curve: 

http://www.globalchange.umich.edu/globalchange2/current/lectures/human_pop/human_pop.html

If the flu don't get us, the singularity will...

;-D

Mon, 02/10/2014 - 16:45 | 4421013 TPTB_r_TBTF
TPTB_r_TBTF's picture

the human race is not facing any problems which Death Controls cannot solve.

Mon, 02/10/2014 - 17:19 | 4421123 messymerry
messymerry's picture

Lol, we've been reassured repeatedly that that will never happen.  What was it BO said?   If you like your executioner, you can keep your executioner.

;-D

Mon, 02/10/2014 - 16:52 | 4421031 manich
manich's picture

But, but, but, I heard someone on Fox News say BO is a socialist. Why would a socialist turn over the regulation of this to a corporate pimp, unless it is BO who is the whore?

Mon, 02/10/2014 - 17:56 | 4421281 teslaberry
teslaberry's picture

the desolation of smaug?

Mon, 02/10/2014 - 18:04 | 4421312 rosiescenario
rosiescenario's picture

Just saw that BofA admitted to interest rate rigging with the other TBTF banks on a deal related munis. I guess if one is going to rig LIBOR one might as well rig everything else...you'd hope that just maybe a few staets' attorney generals might file actions as their tax payers were the ones defrauded by the banks.

Mon, 02/10/2014 - 19:28 | 4421736 explosivo
explosivo's picture

This is one of those red meat style posts for the zerohedge crowd, but there is nothing new here. Everything in this article has been true for about 5 years already. Nothing changes until those 50 million Americans on food stamps can't eat. Then the dominoes start to fall. 

Mon, 02/10/2014 - 20:31 | 4421943 blindman
blindman's picture

but and so ...
without the smog of fraud there would be
no breathing in the federal reserve monetary
fish tank, and by law i say! you fish,
go fish.

Mon, 02/10/2014 - 22:09 | 4422181 acetinker
acetinker's picture

Not so long ago, I would have dismissed your words as gibberish.  Now that I know (I think) how to interpret blindman, I see you're referring to the "legal tender" act.

This is just for you.  The rest of you ZHealots (thanks, janus) better not click;)

http://www.youtube.com/watch?v=Q36EtCE7eds

Tue, 02/11/2014 - 11:08 | 4423675 thestarl
thestarl's picture

janky what a cool word

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