Homeowners fraudulently Foreclosed by Faux-Lenders were nothing but Collateral Damage to the Federal Reserve

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They were playing a version of the Ponzi scheme against investors. Just as investors were lulled into a sense of complacency and encouraged to buy more and more bogus “mortgage bonds” homeowners were encouraged to use their home as an ATM “withdrawing” “equity” which was in fact not a withdrawal but a refi and the equity was false caused by appraisal fraud so the amount owed went into the stratosphere.

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The banks packaged up 2,000 “loans” using the name of the borrower but failed to package the actual debt. Thus creating the illusion of paper that normally wouldn’t exist but for the sale of a loan or debt; but there was no purchase or sale of the debt, because the original money was the proceeds of fraud against the investors. There was nothing to sell because there was no party that could be identified as having any money in the game.

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This first became clear when TARP was first enacted to protect the financial institutions from mortgage defaults. The money started flowing until it was revealed that the banks didn’t own the loans and were claiming losses. TARP was then amended to include losses on the “mortgage bonds” and money continued to be sent to the banks claiming such losses. But then it was revealed that the banks didn’t actually own any fake mortgage bonds, but in fact,  they were selling them. So TARP was mended again to be a general term for”troubled assets.” It didn’t matter because the decision was made to let huge amounts of money flow to the large banks.

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The Fed alone bought over $3 Trillion of bogus mortgage bonds that were printed as fast as the Fed could buy them. The Fed knew but didn’t care because the purchase of the bonds was a vehicle by which they could complete a huge amount of quantitative easing without endangering the value of the dollar or undercutting the status of the US dollar as the world’s reserve currency. When the financial community saw that QE was so low it established more confidence in the system. The amount announced was just enough to appear ‘real’ but far below the actual total of QE which was around $7 trillion equal to 10% of the value of the world’s fiat currency. The Fed was hiding most of its QE program that expanded by around $60-$100 billion per month. It is now $30 billion per month.

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That is to say that if you do the research you will find that even today the Fed and the TBTF banks are in lockstep in which the Fed “pays” for bogus mortgage bonds and the banks are encouraged to continue “printing” the bonds. They view the homeowners thrown out of their homes as collateral damage from a strategy that actually saved the world financial system. People like you and I don’t agree.