Part 4: Golden Lily’s Liar Loans and the Subprime Meltdown
by IndepEnergy, Thu Sep 16, 2010 at 11:08:18 PM EDT
In parts one, two, and three a narrative was formed around covert right wing activities stretching from the end of World War 2 up until the start of the War on Terror. In a nutshell, a giant horde of stolen riches known as the ‘Black Eagle Trust’ were used to fund a shadow American empire tucked under the meme of anti-communism.
At the end of the Cold War, a large number of ‘off-balance sheet’ securities were issued by banks such as UBS and Deutsche Bank against this wealth and funneled into the USSR.
In September 1991, George H. W. Bush and Alan Greenspan, both Pilgrims Society members, financed $240 billion in illegal bonds to economically decimate the Soviet Union and bring Soviet oil and gas resources under the control of Western investors, backed by the Black Eagle Trust and supported later by Putin who for the right price purged certain oligarchs.
After the Soviet Union fell, the cabal in possession of these resources made plans to cycle them into the legal economy and cover-up the dirty deeds that they were associated with. The original 10 year Brady bonds, set to mature in September 2001, were destroyed in the attack on the World Trade Center. The firm that held the securities was Cantor Fitzgerald, which suffered catastrophic losses including the death of every employee.
Under a suspension of regular rules by the SEC, the illicit bonds were cleared by the Bank of New York and added to the capital reserves of banks holding ‘Black Eagle’ gold including Chase, Citibank, Credit Suisse, HSBC, Deutsche Bank, and UBS. To obfuscate its trail, the money was quickly shifted into the mortgage market, where the demand for subprime loans would rise by $246 billion.
Loans that require little or no documentation of income soared to $276 billion, or 46 percent, of all subprime mortgages last year from $30 billion in 2001, according to estimates from New York- based analysts at Credit Suisse Group. Homebuyers with those loans defaulted at a 12.6 percent rate in February, compared with 1.5 percent of fully documented prime mortgages, said San Francisco- based First American LoanPerformance, a mortgage consulting group.
The global financial crisis, like the massive pyroclastic clouds flowing through the streets of New York on 9/11, has served as a smokescreen for the criminal syndicate which inherited Golden Lily’s loot to get away...
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Tags: Golden Lily, Vladimir Putin, Black Eagle Trust, Soviet Union, United States, Alan Greenspan, USSR, Deutsche Bank, george hw bush, ubs, subprime, financial crisis, mortgage bubble, liar loans (all tags)