Ponzi Housing Scheme 21st Century
How the Ponzi House Crisis Was Contrived
by
Gary Anderson
Smashwords Edition
Published By:
Gary Anderson on Smashwords
Copyright © 2011 by Gary Anderson
Smashwords Edition License Notes
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Ponzi Housing Scheme 21st Century
How the Ponzi House Crisis Was Contrived
Introduction
Ponzi housing was a phenomenon that does not defy explanation. This work is an attempt to make simple sense of that which media has complicated. No doubt by design! As long as people are confused, they are unable to put blame where it belongs, on the international banking establishment that includes central banks and the so-called too-big-to-fail banks. Nevertheless, proving their culpability takes just a little research and elbow grease. I believe I have succeeded in assigning proper blame and without clawbacks of ill-gotten gains and mass prosecutions; this system is lurking and waiting for another opportunity to establish the will of bankers upon the unsuspecting populace.
Proof That Basel 2 Caused Ponzi Housing and Foreclosuregate
Banking Community from Top Down Exposed
I get railed on now and then as I post at Seeking Alpha that off balance sheet banking allowed at Basel 2 in 1998 resulted in the ponzi housing bubble. One fellow who posts comments, Pier 0188, said while discussing Ellen Brown's Foreclosuregate article:
However, that doesn't get back to the truth. You know absolutely *NOTHING* about what you are blathering about online. You pretend to be erudite and literate, yet you are not a free thinker. You merely upchuck another cow's cud, another lost, blind, and senseless cow.
Well, Pier, moo to you too! I have never claimed to be erudite. I have never claimed to be an expert on the ins and outs of complex banking. However, I understand the crucial financial manipulations at work here. I do believe that the banks had a plan, through the repeal of Glass-Steagall, which tore down the barrier between banks who had mortgages and investment banks who securitized the loans. This allowed the packaging of individual mortgages into infamous private mortgage backed securities.