Livinglies's Weblog

Many people and even judges have dismissed my work summarily as the ravings of a merry band of conspiracy theorists. None more so than my “claim” that the banks are hiding somewhere around $10 trillion parked offshore in a variety of sophisticated investments — like the Goldman Sachs purchase of a facility that stores precious metals.

Within that facility, exchanges of ownership happen that are never reported. Nobody knows what is in it because Goldman does not need to report the contents of the facility. And since it is offshore, it is not governed by U.S. laws, and since it is regarded as a storage unit, very few laws apply to any part of the operation.

To be clear, this is not a “claim,” and it is not based on theory. It is based on reporting from credible media sources all over the world. It is true, and Goldman Sachs has not denied it. It has merely said that where it invests money or what it does offshore is none of our business. But control of the precious metals markets does not account for trillions of dollars that were pocketed in converting the wealth of millions of homeowners into the wealth of Goldman Sachs, Citi, and Chase. No taxes were paid because the cash flow was never reported on any accounting statement, much less a tax return.

This also is not a claim. In a test of this premise, the State of Arizona confirmed that more than $3 billion was owed in income taxes and fees for transferring interests (generating revenues and profits) that were never reported. When the judicial committee of the state house of representatives approached me in 2008 to devise a solution, I did that, and it was fully vetted through all levels of the Arizona state government. We were about to implement the plan when John McCain stepped in, and the plan went dark — followed by a settlement that wiped out the $3 billion deficit in the state budget caused by the fake securitization scheme.

I lost my own parking spot in the legislators’ parking lot. The Plan was dubbed AMGAR — Arizona Mortgage Guarantee and Resolution. It is a fact, not theory.

I have since tried unsuccessfully to get investors willing to establish their own companies that would offer the money to pay off all that is demanded on residential transactions — with the condition that the designated creditor makes the usual assurances that it owns the unpaid loan account and appoints XYZ as a servicer entitled to receive money on behalf of the creditor. Upon failure to do so, the homeowner would then owe a fraction of the amount demanded to the investors, and the investors would have lost virtually nothing.

So it should be no surprise that the bulk of the illicit gains from the “mortgage” and the separate “foreclosure” fraud is parked in plain sight for those who understand foreign exchange. That includes virtually nobody. FOREX occurs. That is much we have known for centuries. How it occurs is entirely another story. Most of it is not governed by any rules. It is primarily based on the whims of participants.

Since the major investment banks had devised a plan to take the bottom out of the US economy using fake instruments, it is only fitting that they now choose to hide their illicit gains in fake or at least convoluted instruments based upon FOREX. And for the first time, the Wall Street Journal has confirmed the issue and quantified it in much the same terms as I have been doing for years- tens of trillions of dollars are hidden within that system.

Suppose anyone is seriously interested in balancing the national budget. In that case, they should start with clawing back illegal, unreported transactions that were categorized as “off-balance sheet” in order to hide the activities that most likely would have been prosecuted as civil and criminal violations.

see “A New Financial Threat Emerges” WSJ Opinion

https://wallstreetjournal-ny.newsmemory.com/?publink=2d4473020_134873e

Filed under: foreclosure |