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While the Fed is one of many problems, it is a huge problem. And, I suspect, that there are layers upon layers of evil dealings there. Historical analysis of the Fed and it’s market manipulations and it’s inexplicable secrecy leaves no other conclusions. This may sound as though I am a “Conspiracy Theorist”. Please read Webster’s dictionary for the word conspiracy. Secrecy of any sort, in a Democratic Republic, is inadmissable and immoral.

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Where as the United States Government has initiated a Treaty on such destructive proportion and has put millions of their citizens out of work;

Where as the United States Government is not following the Constitution and allowing the American people to achieve Life, Liberty and the pursue of happiness;

Where as the United States has endangered our boarders to the South allowing illegal citizens into America, and not funding security procedures;

Where as the United States Government is allowing foreign trucks to entered into America, inferior to out transportation safety standards;

Where as the United States Government has the intention of making one country out of the United States, Canada and Mexico;

I here by call for the removal of the Treaty known as NAFTA/CFTA and place into our Constitution an article which prevents the American Government from entering into such an agreement hence forth and for ever more. .

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http://www.washingtonfairtrade.org/images/TradeDeficit2006.pdf

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The entire issue is perhaps the most complex, misunderstood or confusing issue in the modern history of America. Why does the government need to bail out mortgage banking institutions when the CEOs and boards saw what was coming and did nothing about it?

Here is what I understand – simplified. During the Clinton administration the president wanted families in America, specifically lower income families, to be able to afford a home. By passing legislation they made it easier for a family to get a bank loan on a home at no money down and a low interest rate. This was a commendable idea but there was one catch. The loan was on what was called an ARM. As one man told me, “You got the loan for 2 ½ percent with all of the cost included in the loan itself. However, over a period of time, my own sons loan would go from 2 ½ percent to 8%. The idea that sold him by the lender was, that the value of his home would rise and if needed he could sell the home and make good money in the future. Suddenly, everyone was building new homes with plans to “flip” them or build for a price and make a profit on the sell. Then the unexpected happened. People could not make their house payments and the housing bubble burst.

These loans and mortgages (ARMS) were sold to investment banks with the idea that as the interest rate rose they would make a good profit on the interest. What it seems few people were paying attention to was the fact that many of the people (into the millions) who took out a home loan did not have the money to repay the loan yet they were still provided a loan by the bank. For example, a person making $35,000 a year may have purchased a home worth $300,000 and as the interest began rising so did the monthly payment. In our community we know of about 5 couples who are in the process of losing their homes because they cannot pay the house payment. One man simply auctioned the goods in the home and told the bank, here is your $400,000 house and the debt that goes with it. As people began walking out of their homes the banks not only saw the home values drop between 3% and in some cities 20%, but they were left with a loan that was defaulted on.

When the banks began looking at what they had in actual cash and assets verses the number of bad loans in which they were losing money, the bad loans won out. Thus, a “credit crisis” resulted. Recently, a close friend who is in real estate called me and said his banker (in Florida) contacted him with a “super investor offer.” For one million dollars to the bank he could own 400 homes at 10 cents on the dollar! When I was in Nevada on vacation we were staying in a desert hotel and a man recognized me from television. He was a real estate agent for six states. He told me of a 2 ½ million dollar home that the bank was offering at $950,000. Another home with four bedrooms, 2 car garage and a pool built for $850,000 was being offered at $240,000. In the Las Vegas area, over 20,000 homes are in foreclosure. They are being bought up by the Chinese, the Arab oil money and other foreign investors. In fact the banks are going outside of the U.S. to find foreigners to purchase the homes that Americans have built. Perhaps Americans should go back and read the Bible where it says, that if we reject the covenant and turn from God;

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