The New Economic Game of Life
Catherine Austin Fitts
The following is an excerpt from the Solari Report 1st Quarter Wrap Up: Planet Debt
A financial institution originates a mortgage for a family of four which they sell to Fannie Mae after collecting the origination fee (the institution is not liable on the mortgage). The father works at a local manufacturer which the financial institution knows will be moving to Mexico soon (they are financing the transition). The institution anticipates that the father will lose his job but they don't inform him, hence committing a material omission in the transaction.
Twenty-four hours after losing his job, the father's credit card interest rate is raised to 30%. A few months later, one of his children becomes ill and the father must use the credit card to pay medical expenses; the family lost its medical coverage after he lost his job.
The father pays the 30% interest rate on the medical expenses and eventually falls behind on his mortgage payments. At this point, unemployment compensation and food stamps are the family's sole source of income. These are insufficient to cover the family's overhead despite significant reductions in spending.
Mysteriously, a local marijuana dealer is inspired to pay the father a visit – a marketing call of sorts. The father begins to smoke again in order to handle stress. One night while he is getting high, an associate of the drug dealer steals his car. Insurance covers most of the cost but the insurance premiums go up. Because the father's credit score has fallen from 800 to a very low one, he doesn't qualify for an auto loan. So he buys a used car which is financed at a predatory rate.
Desperate, the family sells their home to pay living expenses. The financial institution originates another loan and, once again, sells it to Fannie Mae. The auto loan and the Fannie Mae pools are securitized and sold to a fund held in the father's IRA…before he liquidates it to help pay his rent and auto loan.
When Fannie Mae goes bust in 2008, US taxpayers (including this family) are called upon to finance its bailout.
When a banker at the financial institution suddenly warns about the compromise of client financial data and predatory practices, she is murdered on a path where she jogs each morning.
In a short period of time, the family goes from being a successful, middle class family with savings to a family which has been profitably harvested by the financial system.
What the father and those around him cannot fathom is that the financial institution, the credit card company, the marijuana dealer, the car thief, the car dealer and the insurance company were all drawing from what was essentially one relational database operation designed to profitably harvest people in locations.
The banker who could fathom this and who wanted to do something about it is dead.
Via televisions, computers, smart phones and smart meters, American households have provided access to intimate personal and financial data to syndicates of intelligence agencies and large corporations. This information is being integrated with a vast array of what is supposedly confidential data and then funneled to government and financial institutions to be used in predatory ways.
What the "one way mirror" built is a mechanism which allows the economic hit man game (which once operated at a county level) to be applied at the household and individual level. The result has been an explosion in outstanding debt because the institutions that create currencies find it highly economic to loan money which can never be paid back. These loans may appear to be un-economic, however this is not the case when the ancillary profits of controlling and liquidating the target are integrated into the larger economic picture. This includes the control of local government political positions and financial flows and assets.
In essence, creditors can make money from engineering the failure of those to whom they lend.
View the Solari Report 1st Quarter Wrap Up: Planet Debt blog post.
http://www.silverbearcafe.com/private/0 ... flife.html