6 replies to this topic

[MaryAM]

Juicy Janet seems really upset about this

http://www.nysun.com...volution/89355/

How is the Fed going to explain holding so many mortgage backed securities. Tell me, if some of the mortgages in those securities go bad, will the FED have to hire a bunch of lawyers to initiate foreclosures - I can just see the list in courts across the country FED VS Joe Six Pack Homeowner and then they will include American Tax Funding in the foreclosure as they are paying the towns the taxes due on properties in default - but don't have to record their rights to the tax liens on the land records. Looks like they are just creating another housing bubble - or should we call it a land grab. And they must be buying these securities with "new" money - and who are they buying the securities from - are they "special" to get these deals - and it seems there is no risk any more in making mortgages if the FED just buys them all. And where do they invest the principle that is earned on these securities - does it go to "special" firms to goose the stock market since the FED can't buy stocks directly.

http://nyapps.newyor...lastTwenty.html
What is the total value of their holdings? I can't find that anywhere. I find the secrecy of the FED and their lack of cooperation with elected officials terrifying. They run and own the country and we are not allowed to know what they do, how they do it or who they do business with - and that's the big one - are they conducting operations with "special" publicly traded companies (financial institutions) - especially ones making mortgages and then selling them to the FED. And then there is this sentence in the OMO report
"This policy, by keeping the Committee’s holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions." How does this reconcile with raising rates. Oh wait a minute, they are picking the "special ones" who get to survive their mess and it ain't us folks.

[qqqqtrdr]

Given 20% of homes Sales in the Bay area and 10% of Homes in Austin, and 5% of homes Sales in the US are made by Foreign Investors ( Half or which are China ). It is unknown how the US government can go after these investors if they don't pay... Foreign investors must withhold 10% of money for Taxes upon purchase, but there is real money to be made to foreclose on a US Citizen and sell to foreign buyers... ------------------ United States tax law requires that all persons, whether foreign or domestic, must pay income tax on dispositions of interests in U.S. real estate (U.S. real property interests). Domestic persons are subject to this tax as part of their regular income tax.[1] Internal Revenue Code sections 897 and 6039C were enacted in FIRPTA;[2] the Act also made conforming amendments to various other provisions of the Internal Revenue Code. Foreign persons are taxed only on certain items of income, including effectively connected income and certain U.S. source income. Foreign persons, however, are not taxed on most capital gains. Internal Revenue Code section 897, as enacted by FIRPTA,[3] treats the gain on a disposition of an interest in United States real property as effectively connected income subject to regular federal income tax. To ensure tax collection from foreign taxpayers, FIRPTA requires buyers of U.S. real property interests to withhold 10% of the sales price. The seller may apply to the Internal Revenue Service (IRS) to reduce this 10% to the amount of tax estimated to be due. The IRS routinely and quickly approves such seller applications. FIRPTA applies in virtually all cases where a foreign owner of a U.S. real property interest disposes of that interest. Provisions of the law which would prevent recognition of gain generally do not apply unless the seller receives a U.S. real property interest in a qualifying nonrecognition exchange. ---------------------------------

[mss]

Juicy Janet seems really upset about this

http://www.nysun.com...volution/89355/

How is the Fed going to explain holding so many mortgage backed securities. Tell me, if some of the mortgages in those securities go bad, will the FED have to hire a bunch of lawyers to initiate foreclosures - I can just see the list in courts across the country FED VS Joe Six Pack Homeowner and then they will include American Tax Funding in the foreclosure as they are paying the towns the taxes due on properties in default - but don't have to record their rights to the tax liens on the land records. Looks like they are just creating another housing bubble - or should we call it a land grab. And they must be buying these securities with "new" money - and who are they buying the securities from - are they "special" to get these deals - and it seems there is no risk any more in making mortgages if the FED just buys them all. And where do they invest the principle that is earned on these securities - does it go to "special" firms to goose the stock market since the FED can't buy stocks directly.

http://nyapps.newyor...lastTwenty.html
What is the total value of their holdings? I can't find that anywhere. I find the secrecy of the FED and their lack of cooperation with elected officials terrifying. They run and own the country and we are not allowed to know what they do, how they do it or who they do business with - and that's the big one - are they conducting operations with "special" publicly traded companies (financial institutions) - especially ones making mortgages and then selling them to the FED. And then there is this sentence in the OMO report
"This policy, by keeping the Committee’s holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions." How does this reconcile with raising rates. Oh wait a minute, they are picking the "special ones" who get to survive their mess and it ain't us folks.

EVER THOUGHT:
Where are all the influx of refuges going to live? Then there are settlements with just certain refuges - - - -
There is one of these in NW Tn.

H'mmm

mss

Edited by mss, 20 November 2015 - 01:55 PM.

[barbu]

House approves GOP legislation to increase Fed oversight; Yellen warns bill could harm economy
Nov. 19, 2015 | 3:10 p.m. EST
link
The House approved the measure on a 241-185 vote.
The bill now heads to the Senate

House Passes Fed Transparency Bill; Obama Will Veto
11/19/2015 12:14
link

[MaryAM]

House approves GOP legislation to increase Fed oversight; Yellen warns bill could harm economy
Nov. 19, 2015 | 3:10 p.m. EST
link
The House approved the measure on a 241-185 vote.
The bill now heads to the Senate

House Passes Fed Transparency Bill; Obama Will Veto
11/19/2015 12:14
link

Why is Janet upset

http://www.nysun.com...n-letter/89354/

[dasein]

I would be upset if this bipolar Congress starts setting the rules for our so-called independent central bank. sure they make mistakes ( a bias as they seem to pick people like themselves - or like GS) but Congress makes even more mistakes - maybe Congress will start depositing IOUs in Ft Knox the way they have with SS ! speaking of Volker - we should just invite him back to head the Fed!

Edited by dasein, 20 November 2015 - 05:42 PM.

[MaryAM]

I would be upset if this bipolar Congress starts setting the rules for our so-called independent central bank. sure they make mistakes ( a bias as they seem to pick people like themselves - or like GS) but Congress makes even more mistakes - maybe Congress will start depositing IOUs in Ft Knox the way they have with SS !

speaking of Volker - we should just invite him back to head the Fed!

Its not an independent bank - that's the problem. If they can't take an audit our monetary system is finished. GS is likely a major player in the mortgage buy outs - but that's why we need an audit - I have to admit I am frightened by the whole system and by what I perceive as nothing more than financial terrorism - they don't kill people with guns or bombs- but they do it with debt.