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To: Travis McGee

SEE post 112.


113 posted on 11/25/2007 1:48:01 PM PST by stephenjohnbanker (Pray for, and support our troops(heroes) !! And vote out the RINO's!!)
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To: stephenjohnbanker; ex-Texan

DAMN!!! Man, that would be a pisser, for someone with perfect credit who has never missed a payment on anything, and always has a zero credit card balance every month.


115 posted on 11/25/2007 3:14:21 PM PST by Travis McGee (---www.EnemiesForeignAndDomestic.com---)
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To: stephenjohnbanker; ex-Texan; AndyJackson; dennisw
A professional friend who knows the business inside and out sent me this in response to the replies on this thread. By coincidence, he sent me a link to this very article today, not knowing I had already read it and posted it here last night.

The "they" he is referring to are the respondents to this thread.

"They argue over the trivial issues of procedure, law etc. and I agree that the court ruling may just be an administrative snag, that will take some time to sort out, but the BOTTOM line is that the debt is only as good as the creditor's ability to pay, or the price that the property will fetch in an all cash foreclosure sale. In the interim, the debt cannot be priced at "market" so the capital markets "lock up" The velocity of money is as important as the money itself in a debt based fiat system, and since all money, (including debt/ money created outside the FR system) is then debt based the asset value is derived entirely upon the market value of the corresponding debt. If the debt value is in question, then so is the asset value, thus the velocity of "money" becomes hamstrung as a result. This is the kiss of death in a fractional reserve system that lends 10:1, as greater levels of debt/ money need to be created (and accepted) for the system to function. Absent hyperinflation there exists no remedy , and history is VERY clear on where all this ends up. (by the way, gold is virtually the only liquid asset that is "MONEY" and has no debt attached to it!!)

116 posted on 11/25/2007 3:18:38 PM PST by Travis McGee (---www.EnemiesForeignAndDomestic.com---)
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