How The Bankster-Gangster's Roll...
Well if you ever wanted 2 news bytes within a 48 hour
period to show you in living color how the puppeteers
play the game, here it is...
Yesterday I posted an article from the Financial Times
on the biggest residential real estate default in history,
the near $4 billion dollar loss on the Stuyvesant Town-
Peter Cooper Village apartments in New York City.
The "biggest ever" residential real estate deal defaults:
Property value collapses from $5.4 billion to $1.8 billion,
with losses at over .67 cents on the dollar...
ftalphaville.ft.com
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And today, guess who has surfaced as a buyer?
The Rothschilds.
Well, actually one of their frontman minions - Wilbur Ross,
who ran their New York office (Rothschild Inc.) for 24 years.
Fannie, Freddie, insurance companies, and the California public
employees pension plan took a major hit on this, all of which
the U.S. taxpayer will cotinue to have to bail out. And now
Rothschild vulture capital walks in to pick the remaining
meat off the bones of America.
Expand Credit, Contract Credit
Boom, Bust, Boom, Bust
Wash, Rinse, And Repeat
Isn't being a Puppeteer grand?
bloomberg.com
Jan. 26 (Bloomberg) -- Billionaire investor Wilbur Ross said
he and partners including developer Richard LeFrak may consider
buying the Stuyvesant Town-Peter Cooper Village apartment
development after its owners cede control to lenders.
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The Rothschilds & Ross were willing to step in at .33 cents
on the dollar, while the banks are still valuing these
properties at .80-.90 cents on the dollar.
And here's the kicker...
There's $3.4 trillion in commercial real estate loans that
will soon rollover and will need to be refinanced...
cnbc.com
But how are they going to be able to refinance loans on properties
that are now only worth .33, maybe .40-.50-.60 cents on the dollar?
When, not if, tick - tock.
Until then, quit all this Dem vs. Republican bickering,
hold hands, sing kumbayah, and keep that denial blanky
handy, because it's going to come in real handy, real soon.
Think late 2010/early 2011.
Ya' think maybe that's why Congress already gave the Fed a
$4 trillion dollar credit line?
There's either going to be one helluva lot of money printing,
or one very big boom, when the whole house of cards comes down.
Two choices: Devalue, or default - period.
SOTB |
