Now, I do not pretend to 'know that much 'bout anything, BUT it does appear that the seriously low interest rates over the past several years has led to a huge increase in housing sales, and housing prices. Of course that means most of those families are in Debt-up-to their necks. And with any disruption in employment it would lead most of those folks into foreclosure proceeding. The lesson I learned from the last time this happened [it was not 100 years ago either] was to get out of all Debt. So, I live in a really old house, drive old cars/trucks, cut-up the credit cards, and started learning how to grow food. The main problems now are how to keep from freezing in the winter, and personal protection.
The Federal Reserve continues to PURCHASE ASSETS (they have a trading desk on the floor of ALL major exchanges). Including 40 billion dollars of âmortgage backed securitiesâ per month- inflating âhome pricesâ to the point of revolution and war. Issuing debt through one door, and buying it back through another. THESE PEOPLE NEED TO BE HELD TO ACCOUNT. THIS IS WAR.
As Paul Craig Roberts has said,
âThe Federal Reserve has Never done anything to help the American government; in fact theyâve done the exact opposite! Their Only interests, are in the private banks they ownâ. [quote is not verbatim]
And if the ECASH bill passes?
Youâll not only owe 20% on the value of your home in taxes, youâll owe 20% on other assets in taxes