SGM Metals: Housing Recovery is Another Wall Street Scam & COMEX Teeters on Default!

PALM BEACH GARDENS, Fla. - June 10, 2013 - PRLog -- Zerohedge.com reports: [ Mike Whitney explained last September:

   Private Equity firms are piling in to the housing market to take advantage of bargain basement prices on distressed inventory. The Obama administration is stealthily selling homes to big investors who are required to sign non-disclosure agreements to ensure that the public remains in the dark as to the magnitude of the giveaway. Aside from the steep discounts on the homes themselves, the govt is also providing “synthetic financing to reduce the up-front capital required if they agree to form a joint venture with Fannie Mae & share proceeds from the rental or sale of properties.” (Businessweek)

   In other words, US-taxpayers are providing extravagant financing for deep-pocket speculators who want to reduce their risk while maximizing their profits via additional leverage. Speculators are getting lavish incentives (gov financing, low rates, & severe discounts) in secret deals to buy distressed inventory which should be available to the public at market prices.

Jim Quinn writes: The contrived elevation of home sales & home prices has been engineered by the very same culprits who crashed our financial system in the first place. This has been planned, coordinated & implemented by a conspiracy of the ruling oligarchy – the Federal Reserve, Wall Street, U.S. Treasury, NAR, & the corporate media conglomerates.

   Ben’s job was to screw senior citizens & drive interest rates low enough that everyone in the country could refinance, attract investors & flippers into the market, & propel home prices higher. Wall Street has been the linchpin to the whole sordid plan.

   They were tasked with drastically limiting the foreclosure pipeline, therefore creating a fake shortage of inventory. Next, JP Morgan, Blackrock, Citi, Bank of America, & dozens of other private equity firms have partnered with Fannie Mae & Freddie Mac, using free money provided by Ben Bernanke, to create investment funds to buy up millions of distressed properties & convert them into rental properties, further reducing the inventory of homes for sale & driving prices higher. Only the connected crony capitalists on Wall Street are getting a piece of this action.

   Wall Street has screwed the middle class coming & going. The NAR & media are tasked with what they do best – spew propaganda, misinform, lie, cheerlead & attempt to create a buying frenzy among the willfully ignorant masses. Mortgage applications by real people are no higher than they were in 2010 when home sales were 33% lower than today. Mortgage applications are lower than they were in 1997 when 4 million existing homes were sold vs a 5 million pace today. The housing recovery is just another Wall Street scam designed to bilk the middle class of what remains of their net worth.

Of course, economist Michael Hudson would put it a little differently: banks are trying to roll back all modern laws & make us all into serfs.

In other words, the giant financial service companies are attempting to privatize public resources, socialize losses, scam people out of their homes & other private property … & then rent back to us what we used to own for a hefty price. ]

The days of private property & individual homeownership are soon to be behind us as we are reduced to unwashed chattel masses of perpetual renters forever more rapidly becoming desperate seekers of govt. aid to survive.

What is more concerning than the sinister nature of this Wall Street/FED pump & dump scam to create a housing bubble is the fact that the media is completely complicit in the marketing of this rigged game of deceit & not one of them is sounding the alarm bells to warn the public. What will more than likely end up being our undoing, is the fact that the public has been conditioned to see bankers in a $5,000 suit as unquestionable experts when it comes to finance & investing just as we have been conditioned to see doctors as infallible healers who never make a mistake while they prescribe medications that cause rectal bleeding & suicidal thoughts to cure restless leg syndrome. It is the ‘appeal to authority’ that has emasculated us to a point where we simply accept anything these ‘officials’ say as the truth & can never see them doing any wrong.

In the current scenario the shilocks have aligned themselves with govt in order to assure their infallibility & have made the govt. complicit in their agenda which all but guarantees they will get impunity from prosecution. This unholy federal alliance also gets them endless taxpayer funded bailouts which will be used to forcibly lower our standard of living now that we have entered Bernanke’s Neo-Feudal America where we are all destined to become perpetual renters.

The most dangerous part of this rebound scam is the controlled media & their managed message they sing in unison, regardless of if they are a ‘left leaning’ media outlet or a ‘right wing’ channel like FOX News. They are all reading the same script & purposely avoiding the global trends like China establishing trade agreements with almost 150 nations to never accept the USD again. They also have been secretly establishing massive one way financial channels in order to lead a global dumping of US Treasuries that have been used as IOUs by our govt. China sees the future that is being crafted for us & know in their hearts that if our govt. would deliver its own citizens into bondage they wouldn’t hesitate to renege on the worthless paper IOUs. When this “return to sender” event begins & the world crams the worthless paper back onto the fed they will be overrun & the inflation tidal wave will begin in a blink of an eye. The FED couldn’t have prepared for this global revolt against dollar hegemony as they arrogantly assumed the world would play nice forever as they feared our ‘foreign policy’ would be turned on them if they dared stand up. But the world is prepared for life after the dollar, the only question is whether you have considered this possibility & more importantly if you have made arrangements as not to be collateralized?

The same financial terrorists that have created this bubble economy are currently smashing the paper price of gold & silver bullion through their controlled COMEX futures trading platform. They use the supposed real estate recovery with the artificially lowered metals prices to trick you out of your precious metals at a discounted price. The media is doing everything they can to convince you to sell your metals & jump into the stock market. Wall Street registered entities have the ability to cash in GLD shares & demand the bullion. The removal of the collateral gold is resulting in GLD investors having a check sent home since the shares are no longer available & the media is spinning this as investors losing confidence in gold as an investment & cashing out for better investments in the stock market! Wake Up!