THE DOUBLE DEFAULT DISASTER OF SUBPRIME LENDING
The following was written by Martin H. Bosworth
of ConsumerAffairs.com [see URL below] and posted on January 7th of this year:
Subprime lenders have been both blessing and bane in the housing industry for many years,
enabling lenders to rake in huge profits while saddling consumers
with exorbitant loan terms and high interest rates.
Now, as the housing market slows to a crawl, many subprime lenders are collapsing faster
than homes made of substandard materials, and the signs point to even more pain in the housing market as a result.
Mortgage Lenders Network USA (MLN) announced it was shutting its doors today, as a result of market economics
the lender said were "not good ... it deals with the performance of loans, and to a lesser extent the value of homes."
To our valued Readers: this is not "new" news to many people but what Bosworth states so clearly is that much of the new housing built and then sold to earnest buyers using "subprime loans" was substandard in quality. There will, be therefore, almost no way for any parties or interests to recoup any value in these buildings. It is a double default and the worst kind of a scam.
Now comes news that U.S. officials have gone 'hat in hand' to Chinese government functionaries seeking an infusion of capital to prevent massive bank failures due to the "subprime" fiasco.
What follows is the analysis of V.K. Durham, CEO and Signatory of the Durham Trust and a person long-familiar with the tactics of predatory banking. She is well-versed in the Savings & Loan debacle of the late 1980s, which was the last time thousands and thousands of Citizens and legal residents lost their savings and then their properties in a giant banking swindle:
To all U.S. House and Senate members:
What is going on here?
Are you going to allow a repeat of the Neil Bush & Charlie Keating [generated] S&L Crisis ?? The crisis wherein millions of Americans lost their homes and over 2.5 million Farmers lost their Lands, where Water & Mineral Rights were taken over by Foreign nationals in most instances, which gave Foreign nationals access through the Banking & Mortgage Industry ( through PREDATORY BANKING PRACTICES ) to AMERICAN SOIL, without taking the necessary required steps required by IMMIGRATION Law ??
That law, which states:
"No individual (company) can own property in the United States without having first taken the Oath and having become a Citizen of the United States".
U.S. House Members;
Considering that there is a $400 Trillion Dollar BOGUS U.S. DEBT issue and another $410 Trillion Dollar SUSPECT DERIVATIVE DEBT, as recently exposed by the TELEGRAPH.co.uk
[see: http://www.telegraph.co.uk/money/main.jhtml?xml=money/2007/07/03/bcnitaly103.xml ]
which has brought inflationary prices in foods & gas, further dropping the dollar index to unheard of levels, because the Federal Reserve Bank has created too much money to try to cover these SUSPECT DERIVATIVES; which have created over $800 Trillion Dollars External U.S. Debt, exceeding the assets of the Federal Reserve Banking System, [are they now] going after AMERICANS' HOMES & FARMS to 'satisfy' these FRAUDULENT DEBTS?
U.S. Senator Charles E. Grassley ... As the former Chairman of the U.S. Senate Banking Committee, your office has known that this DURHAM (Intl. Ltd; ) HOLDING TRUST, Tias 12087 is THE CREDITOR of the United States of America ...
by Act of Congress when the U.S. House and Senate "assumed" the Latin American Debt in 1905-06 ...
which was later assumed by THE FEDERAL RESERVE BANKING SYSTEM when the U.S. Foreign Federal Reserve Banking Act called THE EDGE was put through December 23, 1919 ...
which, Senator; "THE FEDERAL RESERVE WAS NOT WILLING NOR PREPARED TO PAY THE LATIN AMERICAN DEBT" to my Great Grandfather, that being the DEBT which is held in this TRUST.
As your U.S. House of Representatives [and Senate] Offices are aware;
There are FOUR 'seven percent (7%) interest accruals on this debt which are running SEMI ANNUALLY.
Just one (1) of the 7%'s was calculated by the CENTRAL INTELLIGENCE AGENCY'S ACTUARIAL SERVICES and by the West Coast Federal Reserve in 1989 as Due and Payable -- which calculated to $206,858,581,465,280,000,000.00 due and payable in American Gold Dollars, Gold Bullion, Gold Coin.
This calculation, Senator Grassley and House Members threw the West Coast Federal Reserve Bank's computers off making them unable to reconcile up to mid-1998. This is a matter of Public knowledge, published when President Clinton ORDERED SIR Alan Greenspan to stay on as Chairman of the Federal Reserve even though there was a MANDATORY RETIREMENT in 1998.
SIR Alan was ordered to stay on as CHAIRMAN, Senator Grassley, and House Members, to keep control over the OFF LEDGER shenanigans of those involved in the Philippine Black Bag Operation which is well-documented and caused so much hatred, distrust and LOSS OF INTERNATIONAL GOOD STANDING by nations' Central Banks, who have found it necessary to pull out of the UN and with 118 Nations disassociating themselves with the WORLD BANK [Federal Reserve Owned]. Thus, seriously endangering the U.S. and Latin American relations held by THE MONROE DOCTRINE for so many years and endangering the entire AMERICAN hemisphere by the CRIMINAL ACTIVITY of MONEY LAUNDERING and DRUG RUNNING .. . and now, by SUSPECT DERIVATIVES.
U.S. House Members; Read the following articles:
1. Abusing The Code of Silence:
http://www.theantechamber.net/V_K_Durham/AbusingTheCodeOfSilence.html
2. WORLD REPORTS:
http://www.worldreports.org/news/70_banks,_criminals,_wo
3. PARMALAT Italy's destruction from the ENRON et al DERIVATIVES SCAM
http://www.google.com/search?ie=ISO-8859+1&safe=off&as_qdr=all&q=parmalat&sa=Search&num=50&sitesearch=theantechamber.net
and at
http://www.theantechamber.net/XArchives/VkA.htm .
Ladies and gentlemen, it's all over MONEY LAUNDERING at the highest levels of U.S. Government -- which can be read at:
http://www.theantechamber.net/V_K_Durham/More9/11FinancialTerrorism.htm
and which includes the DOCUMENTS which connect the DOTS further to the ABUSING THE CODE OF SILENCE 'tapes' and statements quoted as written by the Al Qaeda UNDERWRITERS back in 1998, et seq.
Gentlemen: It is not the AMERICAN WAY for innocent victims of FEDERAL RESERVE 'PREDATORY BANKING' to be forced to suffer loss of homes, lands and even their COUNTRY as THE U.S. HOUSE & SENATE SIT AND DO NOTHING about this Organized Criminal OPERATION -- one which violates every CRIMINAL section in the U.S. Statutes at Large and in 18 U.S.C. Criminal Codes.
I now ask you, and I am certain millions of Americans will also be asking of the U.S. House Members in their Washington D.C. Offices and home offices of their respective States this question:
WHEN WILL THE U.S. HOUSE OF REPRESENTATIVES GET OFF THEIR BUTTS AND PROTECT "WE THE PEOPLE OF THE NATION AND OF THE AMERICAN CONTINENT" as prescribed by their 'OATH OF OFFICE OF PUBLIC TRUST', and open the HOUSE INVESTIGATIVE BRANCH OF UN-AMERICAN ACTIVITIES and then PROSECUTE THESE BASTARDS WHO ARE DESTROYING THIS NATION and our INTERNATIONAL GOOD STANDING?
When are you U.S. House Members going to get enough intestinal fortitude ( GUTS ) to stand up for "WE the People?"
This TRUST stands up for WE the People of the Americas on both Continents ...
THE TRUST holds 48 Percent of ONE SEVEN PERCENT (7%) of the $206,858,581,465,280,000,000.00 DEBT owed CALCULATED FROM MAY 1, 1875 TO MAY 1, 1990 which amounts to 24% for the Sovereign Citizens of the States of the United States -- to re-structure their States pursuant to the Xth Amendment provisions, and considering that the U.S. HOUSE & SENATE will not protect them, and an identical 24% for LATIN AMERICA under the same stipulations as for the United States which adhere to the Constitution of the united States.
That is something which the federals seem to ignore and feel as though it is "cumbersome and burdensome, outdated and a hindrance to what the feds want to do on an international scale", per: President William J. Clinton and Vice President, Al Gore -- when speaking to college students.
There is NO CONSTITUTIONAL JURISDICTION which allows CHINA and THE UNITED STATES to cut a deal on these SUSPECT DERIVATIVES, which allow the TAKING OF PROPERTIES belonging to WE THE PEOPLE ... as if this was a new form of MANIFEST DESTINY.
Besides that, GENTLEMEN: The SUSPECT DERIVATIVES were written on what was believed to be owned by COSMOS SEAFOOD ENERGY MARKETING, LTD; NEVADA ID 1707-85, CEO RUSSELL HERMAN ... which brought about his MURDER and an IDENTITY THEFT on the CORPORATION
[see: http://www.theantechamber.net/V_K_Durham/VkPublicNotice.html ]
which is used by those in the Philippines to UNDERWRITE the AL QAEDA and to conduct a global FABRICATION OF DERIVATIVES to take the entire global banking financing and economics hostage.
And thus, it ties in with THE WHITE HOUSE which you really should read more about or again at another site:
CASH PAYOFFS, BONDS AND MURDER LINKED TO WHITE HOUSE 911 FINANCE at
http://www.think-aboutit.com/News/CashpayoffsbondsandmurderlinkedtoWhitehouse911finance.htm
and mimicked at
http://www.worldreports.org/news/70_banks,_criminals,_wo .
To all of you in your respective States, it is now strongly suggested you address these matters to your own Representatives, before we are all 'illegally' invaded by UNHAPPY holders of these SUSPECT 'DERIVATIVES', who will be demanding OUR LANDS & OUR HOMES for their PAYMENT.
The 24% held in TRUST for WE the People, U.S. House and Senate members:
Makes 24% ownership of DEBT which creates a new CREDITOR SITUATION which puts the AMERICAN PEOPLE of the AMERICAN CONTINENTS in the POSITION to DEMAND PAYMENT of this DEBT.
That sort of puts the 'shoe' on the other foot ... does it not?
CHINA and others knew these DERIVATIVES were BOGUS ... but yet they continued on accepting the damm things. I consider that to be THEIR PROBLEM and not ours.
Our problems are with U.S. House members who allow this crapola to prevail, without the intervention of THE LAW OF THE LAND ... who stand aside and allow THE LAW OF THE SEA to take everything in its path by the refusal of the THE U.S. HOUSE in IMPOSING THE LAW OF THE LAND to stop this Foreign aggression.
V.K. Durham, CEO
Durham (Intl. Ltd;) Holding Trust, Tias 12087
Your Constituent, and the Duly Constituted, Outstanding, Primary Creditor of the U.S. and All Debtor Nations ... on a NON PAID DEBT assumed by the U.S. and later assumed by the Federal Reserve.
In a conversation with V.K. Durham on this message, concluded this day, she made it clear that if the Federal Reserve Banking System cannot make good on the debt it assumed on behalf of the United States, when it agreed to be governed by charter and the terms of the 1919 Act referenced above, amending its charter, then it is in default. And default, as anyone who holds one of these miserable "subprime loans" knows, means foreclosure.
The Federal Reserve System refused to pay the Bonus 3392 back in 1919 when it was but a mere fraction of the size it is today:
they cannot pay it now -- or they won't -- either way, it is therefore time to demand an immediate action of foreclosure against this privately owned central bank system and to seize all of its assets ( and for the passports of all its officials and functionaries to be lifted pending due process ), and for there to be a full and transparent audit of the system.
Nothing else will do. Otherwise, we will soon find Chinese creditors forcing out American homeowners as they scrape the bottom of the "subprime lending disaster". And what will good Citizens think of all this, as they are made homeless while the Wells Fargo and Citibanks of the country continue making loans to illegal immigrants and non-citizen trespassers ?
FORECLOSE ON THE FEDERAL RESERVE NOW
