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Old 03-29-2014, 01:40 AM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,043
U.S. GOV default

The FED drove interest rates down to about 1%. The bankers then made bets for about $ 440 trillion that these rates would stay there. The bankers figured that they eventually would get paid off. Wanting to be extra sure, the bankers had new laws written giving THEM senior-seniority in the case of default.
Real estate sales are crashing. The bankers see a new golden opportunity. They already have tons of derivatives in the form of Mortgage backed securities. They cost nothing to write but are potentially quite valuable in the case of a mortgage default. The bankers are pushing a new law. This law would have the U.S. Treasury guarantee MBSs that default. The RE market is crashing and the banks expect a BIG payoff.
The Economic Scam of the Century CounterPunch: Tells the Facts, Names the Names

Moving right along, you and me, as the guarantor of the U.S. Treasury will have to cough up. $30--40 trillion. Since we don't have this kind of cash, the banks will offer to settle for a bit less. They will take lots of GOV owned assets.
Staircase-Escalante was recently set aside as a national monument,,, no mining. It has enormous mineral deposits;
Energy and Mineral Resources, Grand Staircase - Escalante National Monument - Utah Geological Survey
This would make a very nice Christmas present to the banks in their time of need.
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