I am very confused today.

The new student fees are potentially trebling. However, the rules regarding who pays for them and when have been changed radically.

Under the new system, no student will have to pay up front.  That means that access to higher education will be equally open to ALL students regardless of background.

The new repayment structure means that people who earn less than 20K after graduation, will not have to pay anything back at all.  The old limit was about 15K  So more students will pay nothing at all, than is currently the case.

There will only be a requirement to repay in full when the (former) student has reached a degree of financial success which allows them to be able to afford to repay.

Under this new system the rich pay more and the poor pay less and the poorest pay nothing.

WHY THE FUCK ARE SOCIALISTS RIOTING ABOUT THIS???

Why should my taxes be invested in these students if they are NOT prepared to invest in themselves?  In fact it is not even an investment for the students as that word suggests a risk.  This system means that they do not have to pay unless and until they can afford to pay.  That is not a risk, it is a dead cert!

It is like betting on a horse race, but not being required to pay the stake until after the horse race has finished, and only IF your horse has won!  The tax-payer has to pay the stakes on all the losing bets!

WHY are socialists rioting about this? It is a fantastic deal for poor students and it sticks it to the rich.

To me, this reaction by the left shows their hatred of the poor.  They obviously want the poor to pay more and the rich, less.  Just like when labour doubled the income tax of the poorest workers whilst giving billions to billionaire bankers.

I mean seriously, WHAT THE FUCK?

The BBC Breakfast news business editor, Simon Jack, accidentally let his bias slip out this morning.  Interviewing a man from the the Chartered Institute of Personnel and Development (CIPD), he was questioning him about their report which claims that the total number of jobs lost over the next 5 years will be 1.6million.  Adding these to the 2.5 million currently he gleefully said, “so that will take unemployment up to 4 million then.”

“No” came the reply, “these jobs will be replaced by increases elsewhere in the private sector leaving unemployment level with where it is now”.

“Oh” Said Simon, “That was not as bad as we’d hoped“.

The BBC really DOES want the economy to crash.

UPDATE

In the news headline review the BBC again stated that the CIPD predicted 1.6 million job losses, WITHOUT the additional news as clarified by the CIPD that this will be offset by private sector employment increases elsewhere in this economy.  I guess that is too inconvenient for those fearmongers at the BBC.

As Balance to my last post…

Posted: October 31, 2010 in Uncategorized

http://www.bbc.co.uk/i/vhf4g/

Peter Hitchens received the biggest cheer for his passionate appeal to withdraw from the EU, but Baroness Warsi gets a close second when she completely PWNS the Labour woman MP Jack Dromey.

Under Queen Victoria, Britain had an empire so large that it was said that the sun never set on it. Our navy ruled the waves; we governed over a billion people, with a government democratically elected exclusively by men.

Now we are ruled by unelected European bureaucrats, we rule no one, and most of the people we did rule have had civil wars and are now ruled by despots, and our navy is almost down to its last rowing boat.

Is it just me, or is it time we sent the women back to the kitchen? Listening to Harriet Harman, Mrs Ed Balls, and those Eagle sisters, I think it is.

This is a post I found elsewhere and wanted to repost it here with permission of the author.

 

When the Climate Alarmists want to kill off BILLIONS of people through mass depopulation, reducing population by 90%, they are given the Nobel Peace Prize.

OK I know most people do NOT want to see humanity culled. Most people watch the same mainstream media that lied about Iraq’s WMD. Lied about so many aspects of 9/11 and 7/7. Lied about the global economy encouraging us to invest in (what are now known as) dodgy speculative markets and take out extra finance on our property and use increasing equity as income because we have ended boom and bust and the markets are growing and there is NO SIGN of a coming crash!!! The same media that John Stewart rips apart here is the same media that refuses to report climate reality, but falls over itself to report unsupported, unproven, speculative and error filled climate alarmism as often as they can. MOST people who are worried about man-made global warming get their information from the propaganda outlets for the global plutocracy AKA mainstream media.

Well below are some quotes from the people at the top of the “green” ecomentalist agenda which give a hint about the thinking behind this movement:

“The common enemy of humanity is man. In searching for a new enemy to unite us, we came up with the idea that pollution, the threat of global warming, water shortages, famine and the like would fit the bill. All these dangers are caused by human intervention, and it is only through changed attitudes and behavior that they can be overcome. The real enemy then, is humanity itself.”

– Club of Rome,

“We need to get some broad based support, to capture the public’s imagination… So we have to offer up scary scenarios, make simplified, dramatic statements and make little mention of any doubts…Each of us has to decide what the right balance is between being effective and being honest.”

– Dr. Stephen Schneider, Stanford Professor of Climatology,
lead author of many IPCC reports

“We’ve got to ride this global warming issue. Even if the theory of global warming is wrong, we will be doing the right thing in terms of economic and environmental policy.”

– Timothy Wirth, President of the UN Foundation

“The only way to get our society to truly change is to frighten people with the possibility of a catastrophe.”

– emeritus professor Daniel Botkin

“We are on the verge of a global transformation. All we need is the right major crisis…”

– David Rockefeller, Club of Rome executive member

“The emerging ‘environmentalization’ of our civilization and the need for vigorous action in the interest of the entire global community will inevitably have multiple political consequences. Perhaps the most important of them will be a gradual change in the status of the United Nations. Inevitably, it must assume some aspects of a world government.”

– Mikhail Gorbachev, State of the World Forum

“I envisage the prinicles of the Earth Charter to be a new form of the ten commandments. They lay the foundation for a sustainable global earth community.”

– Mikhail Gorbachev, co-author of The Earth Charter

“Isn’t the only hope for the planet that the industrialized civilizations collapse? Isn’t it our responsiblity to bring that about?”

– Maurice Strong, founder of the UN Environment Programme

“The only hope for the world is to make sure there is not another United States. We can’t let other countries have the same number of cars, the amount of industrialization, we have in the US. We have to stop these Third World countries right where they are.”

– Michael Oppenheimer, Environmental Defense Fund

“Global Sustainability requires the deliberate quest of poverty, reduced resource consumption and set levels of mortality control.”

– Professor Maurice King

“Complex technology of any sort is an assault on human dignity. It would be little short of disastrous for us to discover a source of clean, cheap, abundant energy, because of what we might do with it.”

– Amory Lovins, Rocky Mountain Institute

“The prospect of cheap fusion energy is the worst thing that could happen to the planet.”

– Jeremy Rifkin, Greenhouse Crisis Foundation

“Giving society cheap, abundant energy would be the equivalent of giving an idiot child a machine gun.”

– Prof Paul Ehrlich, Stanford University

“My three main goals would be to reduce human population to about 100 million worldwide, destroy the industrial infrastructure and see wilderness, with it’s full complement of species, returning throughout the world.”

-Dave Foreman, co-founder of Earth First!

“A cancer is an uncontrolled multiplication of cells; the population explosion is an uncontrolled multiplication of people. We must shift our efforts from the treatment of the symptoms to the cutting out of the cancer. The operation will demand many apparently brutal and heartless decisions.”

– Prof Paul Ehrlich, The Population Bomb

“I don’t claim to have any special interest in natural history, but as a boy I was made aware of the annual fluctuations in the number of game animals and the need to adjust the cull to the size of the surplus population.”

– Prince Philip, preface of Down to Earth

“A total population of 250-300 million people, a 95% decline from present levels, would be ideal.”

– Ted Turner, founder of CNN and major UN donor

“… the resultant ideal sustainable population is hence more than 500 million but less than one billion.”

– Club of Rome, Goals for Mankind

“If I were reincarnated I would wish to be returned to earth as a killer virus to lower human population levels.”

– Prince Philip, Duke of Edinburgh, patron of the World Wildlife Fund

“I suspect that eradicating small pox was wrong. It played an important part in balancing ecosystems.”

– John Davis, editor of Earth First! Journal

“The fate of mankind, as well as of religion, depends upon the emergence of a new faith in the future. Armed with such a faith, we might find it possible to resanctify the earth.”

– Al Gore, Earth in the Balance

“The greatest hope for the Earth lies in religionists and scientists uniting to awaken the world to its near fatal predicament and then leading mankind out of the bewildering maze of international crises into the future Utopia of humanist hope.”

– Club of Rome, Goals for Mankind

“It is the responsibility of each human being today to choose between the force of darkness and the force of light. We must therefore transform our attitudes, and adopt a renewed respect for the superior laws of Divine Nature.”

– Maurice Strong, first Secretary General of UNEP

“The concept of national sovereignty has been an immutable, indeed sacred, principle of international relations. It is a principle which will yield only slowly and reluctantly to the new imperatives of global environmental cooperation. It is simply not feasible for sovereignty to be exercised unilaterally by individual nation states, however powerful. The global community must be assured of environmental security.”

– Maurice Strong at the 1992 Earth Summit.

“If we don’t change, our species will not survive… Frankly, we may get to the point where the only way of saving the world will be for industrial civilization to collapse.”

– Maurice Strong quoted in the September 1, 1997 edition of National Review magazine.

“[The Earth Summit will play an important role in] reforming and strengthening the United Nations as the centerpiece of the emerging system of democratic global governance.”

– Maurice Strong quoted in the September 1, 1997 edition of National Review magazine.

“[I am] a socialist in ideology, a capitalist in methodology.”

– Maurice Strong as quoted in Macleans.

“[The Great Depression left me] frankly very radical.”

– Maurice Strong quoted in the September 1, 1997 edition of National Review magazine.

“Unless we announce disasters no one will listen.”

– Sir John Houghton, first chairman of IPCC and the person responsible for establishing the future emphasis of the IPCC reporting

“It doesn’t matter what is true, it only matters what people believe is true.”

– Paul Watson, co-founder of Greenpeace, and the person often described by some IPCC leaders as the inspiration for their environmental efforts with respect to Climate Change

“The climate crisis is not a political issue, it is a moral and spiritual challenge to all of humanity. It is also our greatest opportunity to lift Global Consciousness to a higher level.”

– Al Gore, Nobel Peace Prize acceptance speech

“A massive campaign must be launched to de-develop the United States. De-development means bringing our economic system into line with the realities of ecology and the world resource situation.”

– Paul Ehrlich, Professor of Population Studies

“We must make this an insecure and inhospitable place for capitalists and their projects. We must reclaim the roads and plowed land, halt dam construction, tear down existing dams, free shackled rivers and return to wilderness millions of acres of presently settled land.”

– David Foreman, co-founder of Earth First!

“Humanity is sitting on a time bomb. If the vast majority of the world’s scientists are right, we have just ten years to avert a major catastrophe that could send our entire planet’s climate system into a tail-spin of epic destruction involving extreme weather, floods, droughts, epidemics and killer heat waves beyond anything we have ever experienced – a catastrophe of our own making.”

– Al Gore, An Inconvenient Truth

“We are getting close to catastrophic tipping points, despite the fact that most people barely notice the warming yet.”

– Dr James Hansen, NASA researcher

“Climate Change will result in a catastrophic global sea level rise of seven meters. That’s bye-bye most of Bangladesh, Netherlands, Florida and would make London the new Atlantis.”

– Greenpeace International

“This planet is on course for a catastrophe. The existence of Life itself is at stake.”

– Dr Tim Flannery, Principal Research Scientist

“Climate Change is the greatest threat that human civilization has ever faced.”

– Angela Merkel, German Chancellor

“Climate change is real. Not only is it real, it’s here, and its effects are giving rise to a frighteningly new global phenomenon: the man-made natural disaster.”

– Barak Obama, US Presidential Candidate

“We simply must do everything we can in our power to slow down global warming before it is too late.”

– Arnold Schwarzenegger, Governor of California

“Climate change should be seen as the greatest challenge to ever face mankind.”

– Prince Charles

“We have reached the critical moment of decision on climate change. Failure to act to now would be deeply and unforgivably irresponsible. We urgently require a global environmental revolution.”

– Tony Blair, former British PM

“We are close to a time when all of humankind will envision a global agenda that encompasses a kind of Global Marshall Plan to address the causes of poverty and suffering and environmental destruction all over the earth.”

– Al Gore, Earth in the Balance

“By the end of this century climate change will reduce the human population to a few breeding pairs surviving near the Arctic.”

– Sir James Lovelock, Revenge of Gaia

“In Nature organic growth proceeds according to a Master Plan, a Blueprint. Such a ‘master plan’ is missing from the process of growth and development of the world system. Now is the time to draw up a master plan for sustainable growth and world development based on global allocation of all resources and a new global economic system. Ten or twenty years form today it will probably be too late.”

– Club of Rome, Mankind at the Turning Point

“We need a new paradigm of development in which the environment will be a priority. World civilization as we know it will soon end. We have very little time and we must act. If we can address the environmental problem, it will have to be done within a new system, a new paradigm. We have to change our mindset, the way humankind views the world.”

– Mikhail Gorbachev, State of the World Forum

“The concept of national sovereignty has been immutable, indeed a sacred principle of international relations. It is a principle which will yield only slowly and reluctantly to the new imperatives of global environmental cooperation.”

– UN Commission on Global Governance report

“Democracy is not a panacea. It cannot organize everything and it is unaware of its own limits. These facts must be faced squarely. Sacrilegious though this may sound, democracy is no longer well suited for the tasks ahead. The complexity and the technical nature of many of today’s problems do not always allow elected representatives to make competent decisions at the right time.”

– Club of Rome, The First Global Revolution

“The emerging ‘environmentalization’ of our civilization and the need for vigorous action in the interest of the entire global community will inevitably have multiple political consequences. Perhaps the most important of them will be a gradual change in the status of the United Nations. Inevitably, it must assume some aspects of a world government.”

– Mikhail Gorbachev, State of the World Forum

“In my view, after fifty years of service in the United Nations system, I perceive the utmost urgency and absolute necessity for proper Earth government. There is no shadow of a doubt that the present political and economic systems are no longer appropriate and will lead to the end of life evolution on this planet. We must therefore absolutely and urgently look for new ways.”

– Dr Robert Muller, UN Assistant Secretary General,

“Nations are in effect ceding portions of their sovereignty to the international community and beginning to create a new system of international environmental governance as a means of solving otherwise unmanageable crises.”

– Lester Brown, WorldWatch Institute

“Regionalism must precede globalism. We foresee a seamless system of governance from local communities, individual states, regional unions and up through to the United Nations itself.”

– UN Commission on Global Governance

“A keen and anxious awareness is evolving to suggest that fundamental changes will have to take place in the world order and its power structures, in the distribution of wealth and income. Perhaps only a new and enlightened humanism can permit mankind to negotiate this transition.”

– Club of Rome, Mankind at the Turning Point

“The alternative to the existing world order can only emerge as a result of a new human dimension of progress. We envision a revolution of the mind, a new way of thinking.”

– Mikhail Gorbachev, State of the World Forum

“Adopting a central organizing principle… means embarking on an all-out effort to use every policy and program, every law and institution… to halt the destruction of the environment.”

– Al Gore, Earth in the Balance

“Effective execution of Agenda 21 will require a profound reorientation of all human society, unlike anything the world has ever experienced a major shift in the priorities of both governments and individuals and an unprecedented redeployment of human and financial resources. This shift will demand that a concern for the environmental consequences of every human action be integrated into individual and collective decision-making at every level.”

– UN Agenda 21

“The current course of development is thus clearly unsustainable. Current problems cannot be solved by piecemeal measures. More of the same is not enough. Radical change from the current trajectory is not an option, but an absolute necessity. Fundamental economic, social and cultural changes that address the root causes of poverty and environmental degradation are required and they are required now.”

– from the Earth Charter website

“Global Sustainability requires the deliberate quest of poverty, reduced resource consumption and set levels of mortality control.”

– Professor Maurice King

“We must make this an insecure and inhospitable place for capitalists and their projects. We must reclaim the roads and plowed land, halt dam construction, tear down existing dams, free shackled rivers and return to wilderness millions of acres of presently settled land.”

– David Foreman, co-founder of Earth First!

“Complex technology of any sort is an assault on human dignity. It would be little short of disastrous for us to discover a source of clean, cheap, abundant energy, because of what we might do with it.”

– Amory Lovins, Rocky Mountain Institute

“Giving society cheap, abundant energy would be the equivalent of giving an idiot child a machine gun.”

– Prof Paul Ehrlich, Stanford University

“Our insatiable drive to rummage deep beneath the surface of the earth is a willful expansion of our dysfunctional civilization into Nature.”

– Al Gore, Earth in the Balance

“The big threat to the planet is people: there are too many, doing too well economically and burning too much oil.”

– Sir James Lovelock, BBC Interview

“Mankind is the most dangerous, destructive, selfish and unethical animal on the earth.”

– Michael Fox, vice-president of The Humane Society

“Humans on the Earth behave in some ways like a pathogenic micro-organism, or like the cells of a tumor.”

– Sir James Lovelock, Healing Gaia

“I don’t claim to have any special interest in natural history, but as a boy I was made aware of the annual fluctuations in the number of game animals and the need to adjust the cull to the size of the surplus population.”

– Prince Philip, preface of Down to Earth

“A reasonable estimate for an industrialized world society at the present North American material standard of living would be 1 billion. At the more frugal European standard of living, 2 to 3 billion would be possible.”

– United Nations, Global Biodiversity Assessment

“A total population of 250-300 million people, a 95% decline from present levels, would be ideal.”

– Ted Turner, founder of CNN and major UN donor

“… the resultant ideal sustainable population is hence more than 500 million but less than one billion.”

– Club of Rome, Goals for Mankind

“I suspect that eradicating small pox was wrong. It played an important part in balancing ecosystems.”

– John Davis, editor of Earth First! Journal

“The extinction of the human species may not only be inevitable but a good thing.”

– Christopher Manes, Earth First!

“Childbearing should be a punishable crime against society, unless the parents hold a government license. All potential parents should be required to use contraceptive chemicals, the government issuing antidotes to citizens chosen for childbearing.”

– David Brower, first Executive Director of the Sierra Club

“The greatest hope for the Earth lies in religionists and scientists uniting to awaken the world to its near fatal predicament and then leading mankind out of the bewildering maze of international crises into the future Utopia of humanist hope.”

– Club of Rome, Goals for Mankind

“The earth is literally our mother, not only because we depend on her for nurture and shelter but even more because the human species has been shaped by her in the womb of evolution…. Our salvation depends upon our ability to create a religion of nature.”

– Rene Dubos, board member, Planetary Citizens

“Each element, plant, insect, fish and animal represents a certain aspect of Gaia’s – and our – being. In a way, we are Gaia’s intelligence and awareness – currently lost in self-destructive madness. We must acknowledge, respect and love her for being the Mother she is to us or we deny our very selves. Nurture the Mother as she nurtures us.”

– Prof. Michael J. Cohen, Ecopsychologist

“It is the responsibility of each human being today to choose between the force of darkness and the force of light. We must therefore transform our attitudes, and adopt a renewed respect for the superior laws of Divine Nature.”

– Maurice Strong, first Secretary General of UNEP

“The spirit of our planet is stirring! The Consciousness of Goddess Earth is now rising against all odds, in spite of millennia of suppression, repression and oppression inflicted on Her by a hubristic and misguided humanity. The Earth is a living entity, a biological organism with psychic and spiritual dimensions. With the expansion of the patriarchal religions that focused on a male God majestically stationed in Heaven ruling over the Earth and the Universe, the memory of our planet’s innate Divinity was repressed and banished into the collective unconscious of humanity.”

– Envision Earth

“Still more important is the implication that the evolution of homo sapiens, with his technological inventiveness and his increasingly subtle communications network, has vastly increased Gaia’s range of perception. She is now through us awake and aware of herself. She has seen the reflection of her fair face through the eyes of astronauts and the television cameras of orbiting spacecraft. Our sensations of wonder and pleasure, our capacity for conscious thought and speculation, our restless curiosity and drive are hers to share. This new interrelationship of Gaia with man is by no means fully established; we are not yet a truly collective species, corralled and tamed as an integral part of the biosphere, as we are as individual creatures. It may be that the destiny of mankind is to become tamed, so that the fierce, destructive, and greedy forces of tribalism and nationalism are fused into a compulsive urge to belong to the commonwealth of all creatures which constitutes Gaia.”

– Sir James Lovelock, Gaia: A New Look At Life

“Little by little a planetary prayer book is thus being composed by an increasingly united humanity seeking its oneness. Once again, but this time on a universal scale, humankind is seeking no less than its reunion with ‘divine,’ its transcendence into higher forms of life. Hindus call our earth Brahma, or God, for they rightly see no difference between our earth and the divine. This ancient simple truth is slowly dawning again upon humanity, as we are about to enter our cosmic age and become what we were always meant to be: the planet of god.”

– Robert Muller, UN Assistant Secretary General

“What if Mary is another name for Gaia? Then her capacity for virgin birth is no miracle . . . it is a role of Gaia since life began . . . She is of this Universe and, conceivably, a part of God. On Earth, she is the source of life everlasting and is alive now; she gave birth to humankind and we are part of her.”

– Sir James Lovelock, Ages of Gaia

“Nature is my god. To me, nature is sacred; trees are my temples and forests are my cathedrals.”

– Mikhail Gorbachev, Green Cross International

“The spiritual sense of our place in nature…can be traced to the origins of human civilization…. The last vestige of organized goddess worship was eliminated by Christianity.”

– Al Gore, Earth in the Balance

“Christianity is our foe. If animal rights is to succeed, we must destroy the Judeo-Christian Religious tradition.”

– Peter Singer, founder of Animal Rights

“I pledge allegiance to the Earth and all its sacred parts. Its water, land and living things and all its human hearts.”

– Global Education Associates, The Earth Pledge

“By fostering a deep sense of connection to others and to the earth in all its dimensions, holistic education encourages a sense of responsibility to self to others and to the planet.”

– Global Alliance for Transforming Education

“We’ve got to ride this global warming issue. Even if the theory of global warming is wrong, we will be doing the right thing in terms of economic and environmental policy.”

– Timothy Wirth, President of the UN Foundation, the organization responsible for establishing the IPCC to handle Global Warming issues delegated to it by certain leadership figures in the WMO

“No matter if the science of global warming is all phony…climate change provides the greatest opportunity to bring about justice and equality in the world.”

– Christine Stewart, former Canadian Minister of the Environment, and responsible for Canada’s contributions to the IPCC

“The only way to get our society to truly change is to frighten people with the possibility of a catastrophe.”

– emeritus professor Daniel Botkin

“Isn’t the only hope for the planet that the industrialized civilizations collapse? Isn’t it our responsiblity to bring that about?”

– Maurice Strong, founder of the UN Environment Programme

The best ‘too much of you’ quote:

“One America burdens the earth much more than twenty Bangladeshes. This is a terrible thing to say. In order to stabilize world population,we must eliminate 350,000 people per day. It is a horrible thing to say, but it’s just as bad not to say it.”

– Jacques Cousteau, UNESCO Courier

The best hypocritical quote:

“We require a central organizing principle – one agreed to voluntarily. Minor shifts in policy, moderate improvement in laws and regulations, rhetoric offered in lieu of genuine change – these are all forms of appeasement, designed to satisfy the public’s desire to believe that sacrifice, struggle and a wrenching transformation of society will not be necessary.”

– Al Gore, Earth in the Balance 

Take a quick look at the following half minute long video…

What he is talking about is the decision that will have to be made as to how to deal with a catastrophic problem in the United States of America.

The problem is this.  When Mr & Mrs Joe the plumber bought their home, they went to the bank and acquired a mortgage.  Nothing unusual about that.  What happened next is what is now causing a massive and potentially Wall Street destroying problem.

The (too big to fail)  banks decided that they were not satisfied with the safe and slow return on mortgages.  They wanted their money now, and even more of it again tomorrow, so they “collateralized” their mortgage products.  Essentially slicing up the debts these Mr & Mrs plumber’s had taken on, against their property, then bundling these debts into financial products to sell to investors.

So now instead of one bank needing to have a return on the credit extended to Mr & Mrs Plumber, there was any number of investors who bought these investments in good faith.

What happened next is that many of these individual mortgages were taken on as a “sub-prime” agreement, whereby the payments would have to increase in a couple of years.  This was not a problem in the mid 2000’s, because the banks and finance companies were falling over themselves to offer cheap credit.  Mr & Mrs Plumber were being bombarded with offers and they reasonably were led to believe that in a couple of years it would be very easy to re-finance onto another low-rate mortgage.

A couple of years later the interest on these mortgages shot up, people started defaulting in large numbers and the banks panicked.  Credit stopped and banks fell over.

So now these collateralized mortgage backed debt obligations are piling up and turning toxic, hence the first bank bailout.

However, what the banks failed to realise was that foreclosing on Mr & Mrs Plumber and taking their house, to re-sell was a fraudulent act.

This was because a few years earlier, the banks and finance companies had decided that they did not like paying tax on inter-state mortgage transactions, so they created a company called MERS as a ‘holding company’ for these mortgages.  This allowed the bankers to avoid paying a lot of tax.  The trouble is, a Mortgage is a long-term consideration and therefore requires more evidenciary proof of obligation than a normal contract, where performance is less strictly enforced.  Where performance is to take place over a number of years on property, deeds, legal right of title and promissory notes come into play.

ALL these were missing from MERS.  Hence the courts in several states ruling that MERS has no legal standing to foreclose, and that MERS has no direct interest in ANY of these properties.

That last paragraph means that there are about 62 MILLION mortgages that cannot be lawfully foreclosed upon.  By my calculation based on an average mortgage of $500,000 is a potential loss to the (too big to fail) banks of 12.4 TRILLION dollars. $12,400,000,000,000.oo (that is a lot of naughts)

But it gets worse yet for the banks.  How? Well I am glad you asked, because it has transpired that when the (too big to fail) banks were cutting these mortgages and slicing them into the collateralized debt obligations, they were also copying mortgages too. The same single mortgage that Mr and Mrs Plumber were taking out in good faith, was also sold as a part of the CDO to different investment companies up to 20 times over.

So now decent, law abiding people who have been keeping up with their payments, and in some cases, people who have not got any mortgage at all, have had finance companies and investment companies attempting to foreclose on them.  How? Well these companies are finding mortgages were not being paid, because they were not real mortgages, or the owners were only paying on the one mortgage, and that was not the one that the finance company held.

The finance companies were also finding that due to the lack of legal chain, they had to fraudulently fake foreclosure documents, to be able to foreclose and there were even companies on the internet selling faked documentation to finance companies so that they could foreclose on properties that they had no lawful financial interest in.

So now it is being realised more and more that good decent people like Mr & Mrs Plumber are being kicked out on the street illegally and fraudulently and their property stolen from them.

SO the perfect storm is gathering.

The investment companies who bought these CDOs in good faith because the ratings agencies rated them AAA are wanting their money back.  The banks knew that they had sold the same worthless mortgages up to 20 times over and so the paper in the CDOs was junk.

The Investment companies did themselves no favours when many of them believed that MERS had legal chain of title, and so these companies burnt or binned their own documentation, be it deeds or promissory notes.  they were thinking that MERS would be able to foreclose for them if needed. Now it has been established that MERS cannot, these investment companies are left high, dry and penniless. So they are going to sue the (too big to fail) banks for their money back.

The people who have been fraudulently foreclosed upon are taking part in massive class action lawsuits all over the country, to get their property back or compensation and millions of people are being advised to squat in their own homes, as they likely cannot be lawfully foreclosed upon.

And in addition to this, the IRS is now sniffing around the banks to see if they can get the back-taxes on millions of transactions.

 

All in all this adds up to trillions and trillions of dollars in mortgages, fees, and legal costs. The too-big-to-fail banks do not have that sort of capitalisation (readies, money, cash, wonga) lying about, neither does the Government and the tax-payer sure as hell has not either as they are already down several trillion dollars in the bailouts that have already happened.

So what happens next?

Does the Federal Government step in an allow the banks immunity from prosecution, thus legalising the theft of millions of properties from hard working Americans, crashing the entire housing market in the process (what is the point of buying a house if it is not yours and the banks can steal them off you with impunity?)

Or does a court somewhere have the balls to uphold the law and by so doing, render ALL of Wall Steet bankrupt?

Or is there another, as yet un-thought of option?

The whole world should be holding it’s breath now.

In case this is moderated on Guido’s blog, (and I do not mind if it is, as it is after all, HIS blog), I felt this was a pointer as to how I feel at the moment.

In reply to ‘sophie’ who wrote:

the Tory party should consider the long term implications for the party if they continue with third way internationalist dogma

Yeah, sophie, they will have to share power with those third way traitors the liberal democrats, or the other third way traitors, the labour party.

Either way, the people in this country are so fucking ignorant, dumbed down, chemically dociled, brainwashed by the mainstream media and kept distracted with eastenderstrictlyXfactorTalentselebrityfootball bullshit that they will never, repeat, never vote those traitors OUT of power.

UKIP are the closest thing to what is needed and they will be very very lucky if they even get ONE MP in the next decade. However the entire mass of the mainstream media will do everything they can to prevent this as the media are run by people who are part of the same establishment as the liblabcon third way.

They are all part of the same media that lied to you about Iraq’s WMD and who have STILL failed to hold those war criminals to account and STILL accord those same war criminals with the respect due to their former high office.

They lie about what the war on terror really is and about who the terrorists really are.

They are the same media that lies to you daily about human induced climate disruption too.

The media is NOT our watchdog watching the people in power. It is the reverse. It is THEIR watchdog manipulating us! They create a false consensus reality in which the corrupt politicians, bankers and industrialists are our “democratic and honest leaders”

They create the consensus reality in which our inexorable and irreversible slide towards global dictatorship, either to keep us safe from terrorists or to mitigate against climate change, is assured and subtly presented to us an inevitable and good thing.

If UKIP ever looked close to winning power, even as part of a coalition, the powers that be would change the voting system to stop them.

So either way, unless a mass and secret democratic uprising can be arranged, (because we do not ‘do’ revolutions in this country, it is so not British), we are stuck with these third way traitors for the long term!

And I know that this is a negative and defeatist rant, but I am tired and I have been fighting to awaken people for about 20 years now.

All I see is people eventually waking up, ‘getting it’, becoming furious, then becoming frustrated, giving up and going back to sleep because in this reality, ignorance really IS bliss!