Real Estate is a Paper Assetin HPN Blog
We’re all screwed.
It only takes a little bit of research to quickly come to understand that paper assets will lose all value when the crash finally makes it to our shores. And all of the assets are paper … or a series of 1’s and 0’s.
It is an open secret that every ounce of gold and silver has been sold many times over. If you are holding certificates of ownership of gold or silver, when it comes time to collect your hard metal, there will be nothing but the sounds of crickets. And we aren’t even going to begin to touch the laser die cast, silver and gold electroplated, tungsten slugs.
Your 401K is now a 201K or worse yet, a 101K.. Listening to friends talk about how their retirement accounts are dwindling recalls those damn word problems Ed Rice would beat into me in the 10th and 11th grades. I used to ask Ed (I called him Mr. Rice – Ed would NOT have done) why math is important. Now we know. If the hole in the bottom drains faster than the spigot up top fills, the container will drain to empty. I wonder if he could craft a word problem to find that day?
Then there is the Depository Trust and Clearing Corporation, a wholly owned subsidiary of the Federal Reserve. The DTCC is black box which is supposed to keep track of who owns what. Problem is, no one knows what goes on inside the black box and if you pay any attention to Patrick Byrne at Overstock dot com and the Deep Capture blog, it isn’t pretty. I think the term is “Naked Sales”. Who says you can’[t sell what you ain’t got?
Paper assets have become meaningless. You don’t own the stocks, you don’t own the gold or silver, heck, even the money in your bank account is nothing but a series of zeroes and ones. Heck, it’s gotten to where the banks will let you deposit your check using a smart phone. If that isn’t a zero or a one, I don’t know what is. Nothing is real anymore.
Well, here’s a shockeroo for you. Irrespective of the word “Real”, Real Estate is a paper asset too. Sure, your house is tangible, but you aren’t going to move it. You can’t put it into the back of your pick up truck and cart it with you when you move 100 miles away. The way you prove ownership of your “Real” estate is with paper which is recorded at the county courthouse. That means real estate is really a paper asset.
Enter MERS and the total and unimaginable fraud by the national banks perpetrated upon the American people which it hides. Reams have been written about it but for those who haven’t really studied it, let me net it out to you. In order for the banks to securitize your note, they had to “de-recognize” the note in order to provide a value basis for the mortgage backed securities being issued. If they didn’t, they would be double booking an asset. After removing the note from the general ledger, it no longer exists and if the note doesn’t exist, neither does the mortgage or deed of trust.
It that’s true (which it is) then who owns the real estate? You? Heavens to Murgatroid no. The lending institution or the people you make your note payment to? They want you to believe that, but no, they don’t own it.
Then who does? No one knows. Sure isn’t you though because the PAPER at the courthouse says you don’t. Problem is, it doesn’t belong to the person the courthouse says it is either. So you see, when it comes time to collect your paper assets back, it’s all gone. All of it. Even the ground under your feet.
It is the brilliant ones at the Goldman Sachs, Citi, B of A, Chase, US Bank, Wells Fargo, USB, Deutche Bank, RBS, HSBC the Federal Reserve and all of the others who did such a magnificent job of screwing the pooch for all of us. Your paper gold, your paper stock certificates, your paper money will all be worthless and irretrievable when the crash which so many of us see coming finally wipes it all out. That includes your real estate.
So think on this as you celebrate the 4th of July and do NOT watch the firework shows being cancelled all over the country. Jefferson was right. Banks are more dangerous than standing armies and you can rest assured as you wake up every morning that the very ground under your feet has been stolen from you. You are a lease holder with ownership rights.
Bend your knee to your new master. Kiss the ring of Lord Blankfein, the Marquis of Goldman Sachs and remember it well. You can massage your throat and swallow (good boy) or you can be like Madame DeFarge who keeps her knittting. Madame DeFarge doesn’t forget. And neither should you.
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