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Meet The "Access To Affordable Mortgages" Act: How Congress Will Create The Next Crisis
Submitted by Simon Black via Sovereign Man blog,
Say hello to the next financial crisis, brought to you courtesy of the dumbest new bill of the week: H.R. 5148: Access to Affordable Mortgages Act.
Ordinarily whenever an individual wants to borrow money for a mortgage, the bank conducts due diligence... both on the borrower as well as the property.
It’s in the banks’ interest (as well as the banks’ depositors) to ensure that the property is at least worth as much as the amount being borrowed. Duh.
Congress doesn’t agree. Apparently when banks conduct property appraisals, that seems to unfairly discriminate against some segment of the population trying to buy crap properties.
And we certainly can’t have that going on in the Land of the Free.
So with HR 5148, Congress aims to exempt certain ‘higher-risk mortgages’ from property appraisal requirements.
Curiously, this legislation reverses several provisions in the 1968 ‘Truth in Lending Act’.
It’s as if Congress is now anti- 'Truth in Lending' and pro- 'whatever the hell gets the money on the street'.
And of course, all of this comes at a time when mortgage rates are still near their all-time lows.
You can borrow money to buy a home today at just 4%. That’s less than half the long-term average of 8.5%, and a fraction of the 16%+ people were stuck paying 30 years ago.
Isn’t paying 4% affordable enough? Nope. Not according to Congress.
So now they’re trying to engineer yet another financial crisis by encouraging banks and other lenders to exercise minimal due diligence on their mortgage portfolio.
This comes at a pivotal time. US banks are only now just barely starting to recapitalize after the early days of the financial crisis.
They’ve unloaded their toxic assets to the US government and Federal Reserve.
They’ve borrowed money at essentially 0% from the Fed and loaned it to the Treasury Department at interest (the mother of all scams).
After six years of these freebies and taxpayer-funded bailouts, bank balance sheets are only now starting to clear up.
So what does Congress do? They propose a new law to screw up bank balance sheets all over again.
It’s idiocy on an epic scale... and it makes one wonder what team of monkeys is coming up with these ideas.
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Step into Portland, Oregon where I used to go to Middle school (Irvington district) where 1million dollar gets a you the same house that sold for 65k back in 1980's. Even with the million dollar price tag, homes sell on avg ~6 weeks after listing to mostly out of state buyers.
Otrader,
During the height of the housing bubble I lived in Newport, RI, and saw run-down apartments (the type that college kids would rent for $300/month) being converted to condos and listed for $175,000. Absolutely ridiculous. I saw old $50,000 houses going for $350,000. Insane.
I rented the cheapest apartment I could find and saved every penny. That's a strategy that actually works, but nobody likes to hear it.
adr,
Good rant. One of the worst things about the housing bubble is that people now believe that houses are an investment. A house is not an investment. A house is a commodity, like a car or a pair of shoes. It should start to depreciate (in reality, it does start to disintegrate) the minute it is built. Just like a car depreciates the minute you drive it off the lot, a house should go down in price over time, not up.
But people refuse to believe this truth. They refuse to believe that an investment must produce something, which rental housing does in many cases, but I'm not talking about that. Once everyone got hooked on "value" rather than "price" it was all over.
Can you imagine wanting the price of shoes to go up? Cars? Clothes? Food? No, of course not. In fact, people complain 24/7 about the prices of those items going up. But nobody complained about house prices going up during the housing bubble. The government and media convinced everyone that the "value" was going up. In fact, the credit bubble was going up (supply of money increasing via mortgages) which leads to price increases.
Did people really think house prices would double every few years while wages stayed the same? I guess so. And they still believe the lie.
But it's over. Everyone over a certain age that could get a mortgage already got one and refinanced for that matter. A small number of us stayed out of the game. Anyone under a certain age is up to their ears in student loan debt and won't ever get out of it, much less borrow half a million dollars for a crappy house that's worth $75K.
I'm not really into the generational warfare thing, so I don't blame boomers per se. I blame everyone who bought into the lie, from government to media to the so-called home owners.
But here's what's going to happen, although it might take longer than we like thanks to government intervention, QE, etc. The credit bubble IS going to unwind, and we WILL go back to a no-credit economy. That's the future, if anyone cares.
The 30-year mortgage didn't exist until circa 1933, and there will come a day when it doesn't exist again. My parents didn't use credit cards when I was growing up, and my grandparents never ever had a credit card. There will come a day when that is the norm again.
I write this because I know there are a lot of younger people who read ZH and aren't sure what to do. First, stop blaming boomers. Most boomers are hard working people who don't have much to show for it. Don't compare your path to their path. It's going to be different....get over it asap. Second, stay out of debt. Or, if you are a Gen X-er like me, make sure your kids stay out of debt. Third, stay flexible and mobile. Mobility and flexibility (i.e., being willing to work for way less than you are "worth") are the name of the game for your generation.
You don't know me, so you can't possibly know that I'm right, but I am. I study real economics, not Krugman. I look at the real world, not CNN. And I've been right about everything so far.
+1 and if I may add --do not --I repeat DO NOT buy into the retirement lie-- it is a figment used as an enticement for you to malinvest. Plan on staying in the family and off loading some of your responsibilities on the younger generations later on, but you will never get to retire.
How is the next generation going to afford the same homes for three times the money on half the average salary?
Best comment on this thread.
I have been living in the same house for 40 years - 3-story deal built in 1892. It took my wife and I 15 years to totally rehabit it. Another 25 years of perpetual maintenance and repairs. Forget the cost of land, infrastructure and landscaping. This house today will sell only for about 75% of rebuilding cost (insured replacement cost). And, we are in a desired area of a desired town. The only people, who can afford it, are Wall Streeters, Big Pharma execs and self-employed people with strong businesses (HVAC, plumbing supply, corporate software maintenance and support, etc.) In 1974, I was a $35,000 a year salaryman and was still able to buy the place (ok - it was very, very run down). Today, the guy standing in my 1974 shoes earns $100,000 - but needs a $250,000 W-2 to afford a similar place in poor condition.
Will they accept student loans as a down payment.
Probably. LOL.
"Mr Ben Dover" is the Middle Class neo-merikan.
Would you like that with KY or Vaseline? Perhaps you'd care for a few squirts of WD-40?
WHAT MUST BE UNDERSTOOD IS THAT THERE ARE TOO MANY ASS-LICKERS IN THE USA WHO HAVE BOLIXED UP OUR ENTIRE COUNTRY AND YOU MAY AS WELL SAY THE ENTIRE WORLD, THE WHOLE BALL OF WAX AND SHEBANG! WHY? WHO VOTED FOR THE RICH A$$HOLES WHO ARE MAKING ALL OF OUR LIVES TOTALLY MISERABLE AND TURNING OUR SOCIETY INTO A GLOBAL PLANTATION? CERTAINLY NOT YOURS TRULY, AND IF I HAD ANY SAY I WOULD LINE THESE PATHETIC JERK OFF ARTISTS AGAINST THE WALL AND GUN THEM DOWN WITH AN AK47!!!
why the caps?
"They’ve borrowed money at essentially 0% from the Fed and loaned it to the Treasury Department at interest (the mother of all scams)"
The author can't even read a friggin balance sheet. The banks have lent 2.8 trillion to the Fed. And it is the Fed who is loaning to the Treasury and holding mortgage securities to the tune of 4 trillion.
?
Congress aims to exempt certain ‘higher-risk mortgages’ from property appraisal requirements.
Jesus christ these fucker in congress are stupid fuck wads. Yet, their re-election rate is something around 90% or maybe higher. How much longer can voters bitch when their voting record shows they will elect the biggest ass clowns the Elties can present for us as candidates. Democrat or republican, both are screened and cleared by elites such as the military industrial complex, Spy agencies, Corporate CEO's, Wall-Street trading firms and Money center banks and their CEO's.
We are doomed, two party system offers the same agenda, only with sightly changed social issue candidates.
I got your back Jack. Always up arrow from me.
Is it so hard for them to understand?
Voting is a futile effort with the DieBold Company in charge of counting the votes and either way we ARE FUCKED.
I'm ignorant on how they rig the voting.. Ron Paul was not a vetted candidate by the elite, but what would have happened if a landslide majority had voted him all the way? COuld they have stopped it or does it just become another future JFK-type killing?
There is no historical data on anything like a landslide victory for an "not vetted" candidate ever happing ---so----
so they made sure they didnt HAVE to JFK him by preventing any normal price (candidate) discovery mechanism from taking place,
so shit gets puchased instead of something real
Politicians are immoral and traitorous but clearly not stupid because they know how to buy the votes of the living garbage class with the votes of the productive earning class. The stupid ones are the productive earning class who allow their earnings to be confiscated and redistributed and their government to sink in debt to pay for the vote buying.
If you don't give them a house, you racist.
Close, but not quite.
If you don't let the banksters LEND them more money so that they can pay more and push up the price of houses, then you racist.
Now do you see how this really works?
It is very important that you truly understand what is happening because:
Next year the price of houses will be even higher so you'll have to let the banksters LEND them even moar money ...
Plus you'll also have to bail out the banksters because nobody coulda seen this coming, shut up you must be racist...
Too much delapidated inventory but no shortage of idiots ready to "bUy". Que the amnesty bill.
The writer, like most people does not understand as to what the current system is:
It is central command of the economy.
In a central command economy, balance sheet is an irrelevant piece of information, nobody cares.
The writer isn't clueless; actually Mr. Black is making more sense as time goes on.
What is most disturbing is that while the attention must be on Congress, that simple fact seems too difficult for even the most intelligent to grasp.
That is how we got here (neglect), and unless that changes... neither does the trajectory.
ekm1,
Good point, and welcome back. Central planners will say 2+2=5 all day long.
The good news is that this piece of shit has zero chance of becoming a law. "Law"... that's funny... as if that word means anything anymore.
That's what we said about NDAA 2012.
The most odious legislation passes with little problem. NAFTA, NDAA, Patriot Act....
It only goes to show that D or R, they are essentially pursuing the same goals, only their methods differ. As time goes on, even the methods converge.
Yeah, but not this one bro. No horsepower behind it and no time. Luckily this is just a nobody congressman's end of year window dressing. Gotta have something to show "the folks" back home before the election.
I agree with you, but it doesn't even matter. The borrowing capacity just isn't there. They've been beating this dead horse for 7 years now, and it's still dead. No law can change that.
Wasn't this something like what was triedback ago... like Clinton era?
read this again thinking 'mark to market'
makes perfect ponzi sense
We are going to war, they want the property bubble higher. i said this yesterday, without liar loans and no appraisals its over now. They will make it go higher just like they did in 2004 when they ran out of good buyers and kept it going another 2-3 years. Then the banks choke off credit as they did in 2007 and it began to crash.
All they have left are bubbles.
With all due respect, no. The last wave of buyers WAS the last wave. TPTB peed in their chili when they ran a simultaneous student loan bubble, which ensured that the vast majority of the younger generation (Y and Ms) will NOT be home owners. They might inherit from their boomer or Gen X parents, which is fine with me, but it won't be fine with the economy.
the loan bubble in conjuction of felonius arbritrary price increases for EDU due to phoney accreditation and "sheepskin" importance for jobs, and RE due to suspention of Mark to Market requirements of GAAP.
Yep.
Money supply increases (this includes mortgages and student loans and all credit.)
Demand increases.
Prices increase.
Hi, I'm simon black. As I travel around the world, I often rent a house in various cities/countries and write articles about things that I see and feel in my bones. Today, my article was published on ZH because I, once again, rented a house in DC and have my fingers on the pulse of amerika. Now sit back and enjoy my Capt. Obvious doom and gloom dribble because well...... I can rent houses and stay at hotels in different cities. Did I mention that I have rented houses all over the world and am tuned in to the vibes of nearly everyone on this planet when I rent a house in their city? Like once, I rented a house in South America, you know..... that place in the movie Up...... and get this, it was only like $2.50 USD per hour for the month!!!!! You can't find prices like that unless you rent in some hell whole war zone! IT WAS THAT CHEAP! So go read my article about stuff in DC because I'm staying there for the next 29 days and I'm tuned into what's really happening down in the streets where you wage donkeys meander around.
Why continue the complex charade?
Can't Congress just cut out all the middle men in these deals and just direct deposit the non-existent slave debt directly into your straw-man accounts after taxing them?
Nobody seems to give a crap what's really going on anyway. And it will all end very badly. Just open up the flood gates of fiat. Keep everyone fat, dumb and happy until the big day.
Bullish housing?
Fuckin dirt bags. Stay out of the system.
Its a little hard to take a post serious when it begins with "Ordinarily whenever an individual wants to borrow money for a mortgage, the bank conducts due diligence... both on the borrower as well as the property" . . .
Don't get confused. The 1% wipes out the economy, the world is a ****hole as usual, and neo-libertarianism ensures the lower 50% are stuck in poverty forever. People mess up two things. 1. A little authoritarianism is necessary for a healthy dollar (to the extent of keeping a deficit during big downswings or lowering interest rates a bit during extreme depressions) and it's all a trap to make you think your little time on this earth is worth less than someone elses. To avoid a big recession (what people will call a depression) would take mental quadrophonics, to make it worse would be shitting on the porsche. You just don't do it.
I think you're a little confused. Authoritarianism is not necessary for a healthy dollar unless you allow central bankers to arbitrarily control the value of money. And the rest of your post is pretty much predicated on the same factor. We should just accept the boot of progressivism/authoritarianism right? Only centralizing even more power will ensure the bottom half climb out of poverty right? Well fuck off with that shit.
fuck off with that shit, its got a nice ring to it
"It’s idiocy on an epic scale... and it makes one wonder what team of monkeys is coming up with these ideas."
Arggg, truly.
Ones can always wonder about and never be surprised by the next distraction to take the attention away from the diving-to-the-bottom economy. People do not want to spend money they need to barely survive. It is the greatest dis-empowerment and enslavement of a nations people ever. Even bigger than Wiemar Germany was.
All harken as corporate slaves to the system that hardly gives them all enough to survive, and then calculatedly takes it back using various economic vacuum cleaners like the oil oligarchies gas price at the pump. People would rather stay home on weekends, than to go out on Friday or Saturday nights as has been the normal American drunkards ritualistic pathetic path. That higher edumacation comes from beer drinking 101 class in most collages these days. That, and being a good slave for the emerging socialist system. Who was it that said communism would take America down from the inside?
Next distraction please. All the latest comedy shows are totally boring. Is that old dick cheney guy warmed up for the next spectacular Disneyed event yet?
http://themillenniumreport.com/2014/08/911-false-flag-operation-state-sp...
Reason?
I miss Pi Rat. he made sense. This? Makes sense, if your highest goal is getting on death row.
“See that Lenny, I told you it wouldn’t last. Go dust off your playbook man, we’re gettin’ back in the game.”
Angelo Mozilo
Whoa hold on there,, Don't be too fast to judge this.
Chatting to my friend this morning he thinks that the banks will go for this as they can package this shit up and sell it through GShit to the muppets and they will use any excuse to avoid any appraisal..Why, cos the fucking cretins and half wits in Congress and the Fed got their backs .
He has a chicken shack, built on the edge of a toxic swamp with poisonous groundwater and the foundation made of dried shit is crumbling and termits are everywhere.
But its a fucking 3400 sq ft piece of chicken shack ans even the fucking walls are so out of plumb the front door needs to wedged shut with a brick.
But he figures he could pout this on the market at $630k without an appraisal, less than minus -$40k with one.
So we just bide our time, wait until its enacted, and then do a sale get a fuck off mortgage and then split the proceeds after deducting deposit and fees and let the fucking thing get foreclosed.
Have to dash, I just heard of another brilliant opportunity down near the local nuclear plant where some fracking fault lines have been causing earthquakes, shattering foundations and sump pits are appearing everywhere.
Might need to put a holding option on this beauty
How did the mayor of Detroit ever manage to draft a Federal bill?
Crakheads in crackhouses are the up and coming.
Is this bill attached to or separate from the Access To The Buyable Congress Act?
Only 4% to get the Suckers into the Mortgage debt. Once there are enough suckers in the debt trap, the interest will be increased and the people will be squeezed until the pips squeak.
HAHAHA! I think Karl Marx was probably right. And those evll capitalists need the benevolence of the regulatory dictators in order for everyone to get their "fair share" of the American Dream. That, of course, means that the lazy and the mentally deficient get a "share" of everything that is earned by those who are intelligent and work hard. This is important for the markets to work according to the central plan. Otherwise someone might earn "too much" and we can't have that...
anyone choosing one party over another show know this - this POS socialist legislation was introduced by a republican
https://beta.congress.gov/member/blaine-luetkemeyer/1931
cronyism lives on when it's a one party system
the good news is that it will probably fail - it has only been introduced
https://beta.congress.gov/bill/113th-congress/house-bill/5148/committees
Read the bill. It doesn't quite mean what Simon says...Simon says read the bill. The way I understand it is it's a way for banks to avoid appraisal laws to get some of the garbage of their books. Although legalese has tripped me up before. The appraisal game is highly rigged anyway. I doubt it's good either way.
Exception for Certain Higher-Risk Mortgage Loans.--Standards prescribed under this section shall not apply to a real estate appraisal or evaluation conducted in connection with a higher-risk mortgage loan (as defined in section 129H(f) of the Truth in Lending Act (15 U.S.C. 1639h(f))) of $250,000 or less if such loan appears on the balance sheet of the creditor of such loan for a period of not less than 3 years.''.Those who look closely understand that it is not the 1% at the top stealing the icing off the cake, but the much smaller .1% or .01% that are skewing the numbers and overreaching.
I contend the biggest problem we face is the massive growth in crony capitalism and corruption in Washington. Much of this can be attributed to the ability of those in control "changing the rules" and positioning themselves to benefit at every corner. In our busy and complex world we have found it impossible to watch all the moving parts. More on this subject in the article below.
http://brucewilds.blogspot.com/2014/05/how-empires-collapse.html
"In our busy and complex world we have found it impossible to watch all the moving parts"
Most people are too busy raising a family to keep an eye on 10,000 other things going on behind their back.
This is being done BY DESIGN...
USA is the NWO shining jewel which has to be brought down from the inside...all that is left is took take your guns, and then it will be over...
Agenda 21 rakes in more private property with each foreclosure and bankruptcy.
Just wait until 3d printing completely screws over the current housing model of vastly overpriced homes. China recently made 10 single story houses in a day costing $5,000 each that were 3d printed.
http://www.gizmag.com/china-winsun-3d-printed-house/31757/
Let's see - should I mortgage my life for 30 years and become a debt slave to the banks for hundreds of thousands of dollars or just buy some cheap land and downsize to a house you could pay cash for?
Decisions, decisions.
3 components to a home purchase: House, land, interest.
The big flaw in your plan is the price of land. I expect it to "adjust". But you may find some good opportunities in the chaos created by the introduction of the new technology. We can only hope.
I wish you good luck. Sometimes I like to be wrong.
WOW. This is fantastic! Now I can buy that old abndoned toxic waste dump across town, sub-divide it into house lots, build some sub-standard houses, sell them to poor people at enormous profit, and know all the while that the Government has got my back. Thanks Congress!
I spent $40k at home depot, from 1995 to 1999, and built my own 2400 sq ft modest home. It can be a great family project/learning/working experience and keeps you in shape. Then after its all built and debt free the come along and tax you at a valuation 3x what you put into it.
Listen let's face it. It's no fun to pay retail!
Today in Bangalore we find a widow with no family and then we "liberate the poor woman from her burden".
Then as soon as she is "displaced", she is tragically hit by a police car! Bam! The tile floors are nice!
"It’s idiocy on an epic scale... and it makes one wonder what team of monkeys is coming up with these ideas."
Well, a quick trip to congress.gov has your answer. The bankster asshole behind this thing, which currently has no co-sponsors, is...
H.R.5148 — 113th Congress (2013-2014)
Access to Affordable Mortgages Act of 2014
Sponsor:
Rep. Luetkemeyer, Blaine [R-MO-3] (Introduced 07/17/2014)
Committees:
House - Financial Services
Latest Action:
07/30/2014 Ordered to be Reported by the Yeas and Nays: 31 - 23.
Old Blaine is a St. Louis area bankster and insurance guy, according to his bio, and he just happens to be on the House Financial Services Committee. He is the congresswhore for the 3rd district in MO, which appears to be all the burbs West of St Louis. The committee is responsible for the following:
"The House Financial Services Committee has jurisdiction over the nation’s financial services and housing sectors including banking, insurance, real estate, public and assisted housing, securities, and domestic and international monetary policy."
So, in his upcoming re-election campaign (which John Boner just raised a ton of cash for), Old Blain courts the rioter looter vote, and spiffs his own bankster activities in one fell muppet-grinding swoop.
I'm quite sure that Old Blaine will make sure that his FSA rioter looter loans will be backed by the full faith credit of the American federal taxpayer. In this way, we all get to help out Old Blaine's griftin'--he and his bankster pals get the loan biz, and We the Mups take the loan default rap right up the ass. Deja vu all over again.
It's not complicated.
Now here's the really repugnant sick part: all of Congress is Old Blaine.
How about "Access to a Frickin' Brain Act" ?
Americans now trusting banks again:
"It appears that the public is ready to forget the banks' role in the financial crisis.
U.S. banks are now viewed positively for the first time since 2007, an annual poll released by Gallup Friday showed.
The banking industry now has a net positive rating of 8 points, up from near -30 points in the depths of the recession. The real estate industry also has undergone a dramatic reversal in public perception, notching its first positive rating since the peak of the housing bubble in 2006." ...
- Washington Examiner, Sept 5th http://washingtonexaminer.com/americans-now-view-banks-positively/articl...
"The banking industry now has a net positive rating of 8 points, up from near -30 points in the depths of the recession."
That will change soon enough. The next recession isn't that far off.
The rule is let the buyer beware. He is responsible for making sure he's getting a fair deal and has many people he can call upon to help him out. The bank is supposed to protect their money that is entrusted to them and make sure the deal is sound. Corruption of this process is just political twerking in order to appease some god awful unhinged group that wants something for nothing and is not willing to play by the rules of capitalism and sound money management. The only answer is a smaller government. Anyone that saw our chief fudgepacker say he is delaying executive action on amnesty until after the elections just saw your black president openly lie to you. Case closed. These guys are scum and not worth the air they breathe.
Listen, the only real way to fight them is to assist ISIL.
Case closed!
as usual black has it wrong. this bill is an attempt by Blaine Luetkemeyer [R-MO] to help the maggot bankers get some of the shit off their books.
https://www.opensecrets.org/politicians/summary.php?cid=N00030026#cont
Thanks Buzz.
This is abosoultly coming from the money changers through thier tools (bought tools) in congress.
Off topic but I posted this yesterday on a thread that was dying. Hunting season and A&M Football has begun so I'll be out-of-pocket most weekends.
"It is better to take refuge in the LORD than to trust in man" Psalm 118
Read Revelations for God's truth, He knows.
Warning: Prophecy can only be understood by believers.
So if you still deny God, read John. Your still among the living so there is still HOPE.
"Just as man is destined to die once, and after that to face judgment" Heb
"Why, you do not even know what will happen tomorrow. What is your life? You are a mist that appears for a little while and then vanishes." James
God tells it like it is, with no evil or hate in Him.
GIG 'EM!!
A government of the banks, for the banks, and by the banks.
"In Compound Interest We Trust"
This bill 5148 was certainly expected by all in industry and on Z/H
since the spring of 2014. Sub-prime borrowing is the bread and butter of Wall Street and they have blown up student loans [1/3 in default]
and cannot find more Muppets as of September 2014. There are no more student loans to issue this semester. Car loans have gone sub-prime and have petered out over the last few months. No sub-prime car loans, student sub-prime, or home mortgage sub-prime, is being sold right now. How in hell do you think the Wall Street investment houses are going to stay afloat if they can't pump-and-dump sub-prime loans? There is only one way to dance on the head of a pin and inflate the $1.4 quadrillion dollar derivatives universe. ERGO....bill 5148 and
the Christmas bells on Wall Street will be ringing once again for the 1% takers. The 'givers' can eat cake!
The big question of course is how much longer can they go on pumping and inflating bubbles before the next crash overtakes them. Is the current round of new scams such as the reemergence of subprime mortgages and "rent backed securities" sufficient to give them a reprieve? Or is it too late for that?
Financial crisis: where the keys to the backs of future taxpayers are given-up again and in perpetuity.
Politicians, that's the way they do it, bent over waiting to serve up The People to whoever writes the check.
These message boards are such a piece of shit. The best tech the 1990s has to offer. Unusable. I am amazed people bother to have any back and forth exchange. I up and down comments but will never discuss anything on this piece of crap.
OK then, I'll put you down for "Never to be heard from again".
This is all about getting people to spend money. The velocity of money is at a historical low. This is the only reason we don't have massive inflation.
If people don't start to spend money soon, rather than hoard it, there will be no way to stave off deflation and a second Great Depression.
Buying properties churns up the money-velocity quite nicely. Expect to see more such tactics.