I examined LaRouche's entire plan. It would work. Unfortunately, part of it would be to create a “National Infrastructure Bank,” or a “Third National Bank.”

In practice this would put financial power in the hands of government, rather than the Federal Reserve. Such a bank would work for the people, not just for jews and the rich.

Oh well...

It was a nice thought.

And he's right about the need to act immediately, rather than wait for October, which is usually the month that determines how the following fiscal year will shake out. (It's also the month when most wars and revolutions start.)

I think Larouche's conception of economics is senile.

If there is a depression coming in October, Lindon Larouche isn't going to stop it from happening.

Banks aren't the life lines of our economy - they suck the life out of our economy.

Usury.

Remember?

banks are essential - but they must be interest free and they must be public, non-profit.

---------------------------------------
"Money" has no value - people do.

..let me see if i understand this, the Federal Gov't prevents the jews, er.. banks from cutting and running, or mass foreclosures like in the conspiracy of the Great Depression, by using taxpayer money to pay off the usury debts???????

"no funny business" sounds good, but is far from specific..

Does this have anything to do with Ron Paul's return to the gold standard?

F*CK 'EM, GET PROTECTION, DON'T MOVE, DON'T PAY (especially if you CAN'T)

so, I'm not clear on exactly how it proposes to protect homeowners from eviction.

Obviously, I am against paying banksters interest whatsoever. It would be like giving in to the demands of terrorists who are holding homeowners hostage.

I was thinking there would be a moratorium on foreclosures of houses where the owner lives in it and some other arrangement to transfer ownership of houses that are being rented out to tenants so they don't get thrown out.

Empty houses can be foreclosed for all I care. But, NO ONE should be forced on the street because banksters are jacking interest rates up.

---------------------------------------
"Money" has no value - people do.

..no doubt, qrs; when it comes down to it, it's all about everyday people's lives.

..i heard a bit in the audio about protecting essential industries as well, VERY IMPORTANT.

..kick that fat and drunken third horseman's ass, a measure of wheat for a beating!

Hi there,

This plan cannot work for the simple fact that it is not addressing the cause of the problem. The reason that people are losing their homes is because they cannot AFFORD to keep up their commitments.

Even if these people stay in their homes WITHOUT paying, whilst everyone else stays in their homes BY paying their commitment, how does this help? If anything it will convince those persons who can afford to pay to stop paying, so they too can avail themselves of the free moratorium.

But even if opportunists did not take advantage of the moratorium on personal debt, how can this stop the market collapse?

I have posted several pieces about the CDO issue on WUFYS. The Collaterised Debt Obligation, of which Asset Backed and Mortgage Backed securities are variants, are what have collapsed. Since these CDO issuers cannot honour their respective coupon/interest payments, the funds that bought the bonds (IN EFFECT THEREBY LENT THE FUNDS TO THE HOMEOWNERS) are left holding CDOs that MUST have their credit rating downgraded.

These CDOs are exploding everywhere and the persons losing out are those EUROPEAN investors (more than 60% of US CDO holders) who put their cash in to help these people buy their homes. Now telling these investors that they have to wait for their money, whilst they have their own debt obligations is causing even more collapse.

The fact that LaRouche has ignored this is a global crisis demonstrates he is not in the slightest bit sincere about trying fix the real global problem, or as is most likely, he is simply incapable but he doesn't even understand the problem.

Respectfully,
Muhammad.

..the problems are debt-usury, private fiat-currency, wars-for-profit (against life itself), and supremacist 'population-control' (sic).

..i hope we can save what's worth saving, but if humpty dumpty falls off the Great Wall of Apartheid, perhaps it's best not to waste too much time trying to put dhim back together again..

..thanks for the insights Muhammad :)

It's like we're all sitting around discussing the case of a bipolar/manic-depressive patient. The patient appears to be coming to the end of a long manic phase - we all know what comes after the manic phase - and Larouche wants the cycling to stop right there, just a smidge after the crest of the mania.

But that's not the way it works. The surest way to avoid a depressive phase is to control the manic phase. If you've already had your manic phase, then your gonna get a depressive phase, whether you like it or not.

People will get kicked out of their homes. But that's OK - the people who profited from selling them their homes in the first place have had sufficient time to pass the risk of them defaulting on to someone else. So it's all good, see?

One day we'll learn.

There needs to be a moratorium on foreclosures of occupied houses. Spec houses are another story.

Then outlaw hedge funds and liquidate them for their true market value. Let the rich fail with their schemes. No bailout for the banksters.

The irony of the empty house problem is that as soon as the meth cookers find them, they cook for a day or two and that house suddenly becomes a huge liability. The banks need to dump their spec foreclosures and that may be the source for a great housing opportunity - a habitat for humanity - sponsored by those who thought that the laws of gravity didn't apply the them.

"The plot becomes much deeper as the Mishpucka (Jew Crime Family) reveals the overall extent and complexity of the criminal conspiracies that they resort to in their madness to destruct and forcibly take over America."

Hi there Grim Reaper (I really hope you are not the real one by the way, there is much I have not yet done in this world!)

You are 100% on the money in what you say. Only a complete re-write of the core debt-fiat system can save the general public. However, much of the general public does not want to be saved because they've been enjoying their secured (collateralised, asset backed, guaranteed, insured.... call it what you like, it's the same thing) 5.75%.

Until it all goes Blair-shaped.

Then they want their money back (boo-hoo) and they've all been so wronged (boo-hoo-hoo) and they all so trusted the men who sold them their investment policies (bwaah) and so they WILL have those US homes reeled in so they can auction them off so as to re-coup their own monies. As for making poor souls homeless, well that's life buddy.

So this time we have a great lesson from above. The money has been private investment, not the usual suspects own monies, although packaged by the usual suspects, for private borrowing. And of course its all very Orwell's "Animal Farm". Everyone hates the banks and what they do, but they are quite happy to make money the way the banks do (vampire sucking the proles) and then as soon as they start looking like losing their OWN money they behave exactly the same as the vampires. So, wooden stakes all round then! Ain't that a funny thing.

Respectfully,
Muhammad.

I think it is foolish to bail out people who are buying a second home, or are renting out the property. They made an investment and they lost.

Housing prices are through the roof because of reckless speculation. High housing prices means high rents. High rents are paid by poor people. In a way, the people who pay for a lot of the high housing costs are the lowest wage earners. I have a hard time feeling sorry for massive banks left holding bad paper.

I think the high rent carries over into business rents as well. In my hood we have many independent businesses. There used to be a nice produce market, but they couldn't afford the rent. It doubled. So they moved out, and we got a Starbucks.

The housing bubble needs to make a big correction. So does the stock market. In one year the market went from 11,500 to 14,000? Based on what?

Everyone has been seeing this coming. Its crazy to try an prop up the market by killing the dollar. Our government needs to focus on making sure we don't get Weimar-style inflation. I think the fact that so many nations hold our bad paper is a good hedge. Equity through ubiquity; but you can only take that so far.

Also, by bailing everyone out, we punish the people who were sensible and didn't buy houses they couldn't afford.
-----------------------
"Stop judging by appearances, but judge justly."

Hi there Christopher,

When we remember that CDOs are a LEGAL obligation on the part of the borrower to hand over the asset if the borrower fails to honour payment, what court in any land can prevent the lenders (investors) from seizing the said assets?

No court at all! The lender simply states "I only lent money AT THAT RATE because the borrower secured the debt on his/her asset". If the borrower wanted unsecured money it would have been a lot more expensive (several percentage points).

Therefore, the talk of bailouts is a legal nonsense. If the assets cannot be collected under the CDO, then who will ever put money into a CDO again? Investors would laugh in the face of anyone trying to get them taken seriously. This is part of the panic. Dishonour the legal right to seize and the asset class (CDO) is permanently destroyed.

So hand over the keys buddy.

Also you are right, many people have bought 2nd and 3rd homes and even managed to put together property portfolios of 'buy-to-let'.

A banker friend of mine here in London recently met an immigrant from Sudan who has been in the UK for less than 18 months. Someone 'taught' him how to complete the buy-to-let application form and now he 'owns' a 'property portfolio' worth more than £6 million. This sickens me to the stomach in many ways.

Respectfully,
Muhammad.

..lemme guess, take out multiple loans to buy properties that the poor pay inflated rents at; into YOUR equity portfolio..

..i forgot to mention another problem, GREED; our indoctrinated thinking that the capitalist way of PROFITING OFF THE BACKS OF YOUR NEIGHBOURS, is somehow a good thing!

..if you're a rich bastard, and you have between 10 and over a MILLION times what you NEED to survive happily, GIVE IT AWAY OR GO TO HELL.

the 5th amendment of the US constitution would prevent any sort of "reworking" mortgages without banks getting a huge paycheck from the Fed.

"...nor shall private property be taken for public use, without just compensation." (5th Amendment) You're right about the CDO/mortgages being legal obligations. The right to the property would entitle the banks to "just compensation". And I doubt the banks would be reimbursed at anything less than the current inflated property value.

I can see this working out just like the old savings and loan swindle.
-----------------------
"Stop judging by appearances, but judge justly."

yah, i guess they pick and choose which constitutional amendments to follow!!

..withdraw all your money, and spend most of it on what you will need in the coming times ahead.

..i say only protect those who need protection (those who have nothing of material value and would end up homeless) from the conspiring racketeers.

Hi there Christopher,

I have little experience of US constitutional laws but as I understand it, this law is federal and applicable in every state. So it looks like the CDO legal framework is even supported by the consitution itself. Hence Bush, Ben & Co being completely unable to prevent the CDO (bondholders) from claiming their 'right' and seizing those properties that have not been voluntarily surrendered.

Respectfully,
Muhammad.