By: D. H. Williams @ 7:28 PM - EST
With this weekends federal take over of mortgage giants Freddie Mac & Fannie Mae the power brokers in Washington take control of $12 trillion in mortgaged real estate assets, nearly 1 in every 2 homes. Never before in U.S. history has so many private assets been delivered in to the hands of a centralized bureaucracy. Treasury Secretary, Paulson will officially take control of Freddie and Fannie no later than Sunday, September 7th using the Federal Housing Finance Agency.
While the richest 1% of the population will enjoy the benefits of such government sponsored bailouts the typical family will not experience any benefits. For starters the Federal Reserve Notes necessary to prop up these failing mortgage lenders and mortgage loan backers will be printed by Henry Paulson’s Treasury Department and these debt instruments will be backed with the taxes placed on the future production of the American citizen.
With the increase in the money supply yet again inflation will increase followed by an inevitable rise in interest rates from the privately owned ‘Federal Reserve.’ Henry Paulson will then replace top level management with government insiders who agree with a centrally planned economy popular with Washington’s elite who control the Democratic and Republican Parties.
Get ready to see the usual cast of characters touring the cable news shows reciting their talking points of “free markets” and “balanced and fair competition.”
Other nations that prefer a centrally planned economy are: China, Cuba, Iran, Saudi Arabia, North Korea and of course the former Soviet Union.
Video: Moneytv - How to cheat your way to billion$$$
Updated: Sunday the 7th @ 4:58 PM - EST
Treasury Secretary Henry Paulson announces the federal take over of 12 Trillion in real estate assets from failed lenders Fannie Mae & Freddie Mac. He emphasizes that government control of up to 80% of the nations mortgage market is good for the collective.
MSNBC script reader Patty Culhane explains to the public how lucky they are big government is there to make good decisions for them.
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I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you down the road!
Thank you Stacey.
[...] Over the weekend the Daily Newscaster wrote about how the government taking of the U.S. mortgage market was a move toward toward socialism for the purpose of benefiting the rich and powerful who control Washington D. C. Well known fund manager Jim Rogers goes on step further. [...]
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