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Below is an excerpt from a good article about the housing bubble that was created to replace the dot-com technology bubble of the 1990's. If you have an Adjustable Rate Mortgage on your home, rather than a fixed rate, you might want to see if you can get that changed. If you one of the relatively few that pays 60 percent of your income on house payments, you may want to think about selling your home. I can't imagine anyone paying that much out of their income for housing and did not realize that it could even be possible for a bank to make such a loan.
To read the entire article, click on the link posted at the end of this excerpt. . .
The Fed’s Role in the Housing Crash of ‘07Mike Whitney – dissidentvoice.org January 9, 2007
. . . . The first step to “reordering” society is destroying the currency.
Famed economist John Maynard Keynes showed a keen grasp of this when he said:
“Lenin was right. There’s no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
This suggests that the greatest threat to “democratic institutions” is not repressive legislation (as most believe) but monetary policy. The manipulation of currency can precipitate economic divisions in society that make democracy impossible. That’s why Thomas Jefferson said:
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of our currency, first by inflation, then by deflation, the banks and the corporations that will grow up around (the banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
Jefferson understood that monetary policy is central to the maintenance of personal freedom and should not be ceded to a few “unelected” and unaccountable men whose interests diverge from the public good. The Fed’s ability to “inflate and deflate” the currency allows privately-owned banks to decide the country’s future and remake society according to their own inclinations.
America’s political transformation is being engineered by the Federal Reserve.