Read What I See

I wrote an article in 2009 stating that the housing bubble was a rip off by the Federal Reserve; this has become more evident by 2012.   They created the housing bubble and have now on their balance sheets millions of foreclosed properties with money printed out of nothing.  In other words, they have turned worthless paper into real assets. There are still millions more of homes that will foreclose and the Federal Reserve will buy them with worthless created paper backed by nothing until they take possession of these homes.  What this really amounts to is confiscation of the properties and massive theft on the American people.

No one is exempt from this confiscation.  The majority of Americans do no posses the means to continue paying their mortgages if they lose their jobs.  Under the present conditions the loss of your job represents the loss of your home.  In the past one could sale the home and relocate to a different city or state after finding a new job.  Now it is not only difficult to find another job but even if such, it is nearly impossible to sale the home.  Unable to pay for two households the previous home becomes a foreclosure and eventually in the hands of the Federal Reserve.  Let's put a face on them by restating that the Federal Reserve is a privately owned entity by a few banking oligarchs whose goal is to control the entire planet by having our nation to finance endless wars and share the blood of our citizens and that of their victims.

The value of homes will likely continue to drop until the dollar is devalued as a measure or by hyperinflation.  Only at this time the prices of homes may exceed the debts on the mortgages but a little too late for millions of Americans.  The biggest home owner losers with dollar devaluation will be the elderly.  Those who have reverse mortgages have agreed to receive a fixed amount but that amount will only have a fraction of the previous purchasing power.  The dollar devaluation is coming and likely sooner than later as it is already planned by the Obama administration.

Other factor taking place is the continuing drop on the value of homes, a big percentage of which are underwater where the real value of the property in now less than the amount owed on the mortgage.  As this trend continue many are reluctant to continue paying the mortgages and by doing so ensure that they become property of the Federal Reserve, the only institution in American that can come up with the trillions of dollars needed to purchase them as they can print them at will.

Now the Federal Reserve is going to rent these houses because they cannot be sold under present conditions and at some point in the future will do what Cuba is doing today.  The Cuban government at the early stages of the revolution took possession of the property of those who left Cuba.  Now after 50 years Cuba is turning those houses into private property by selling them and receiving the mortgage payments as a source of revenue.  This is likely what the Federal Reserve intends to do here the day the housing market opens up again.  In the mean time as Ben Bernanke just suggested, they will collect rent on millions of homes that they have acquired for nothing.

The people and local law enforcement can stop the confiscation of homes.