Sunday, October 19, 2008


I'm glad that several of you asked about my comment. It shows you're paying attention. I'm not sure how much help I can be for reasons out of my control.

I started receiving the warnings about the number of mortgages from Catherine Austin Fitts -- former Assistant Secretary of Housing -- in late 2004 or early 2005. That was followed by several key stories which had that choice morsel buried (as usual) in later paragraphs. Unfortunately, when FTW's computers were smashed on June 25, 2006 I lost the ability to locate those stories. As we reloaded new computers with all of my research from backups, the new IT tech changed all the dates on all of my 20,000+ stories to July 10, 2006 and the file names were changed in many cases. File trees were rearranged and my ability to search was really impaired. I just entered "mortgages" in my search engine and came up with more than 300 archived stories. I just can't go back and read through them all. In all I have perhaps 4,000 separate research files totalling 4 Gigs.

However, throughout 2005-6, I cited these alarming discrepancies in all of my lectures and I believe it's in my video "Denial Stops Here"compiled from my 2004 through late 2005 public appearances. I used Powerpoint slides and probably there's a slide in there with one of the stories supporting this.

I no longer communicate with Fitts in any way. The reasons are between her and me. Yet I have never had reason to doubt what she told me on this subject and there were substantiating stories. It was clear that the same addresses were being used on multiple mortgages and that fictitious properties had also been created to blend in and pump the value of bundled mortgage-backed securities. This pattern first appeared way back in the S&L crisis in the last years of Bush I. The RTC (Resolution Trust Corporation) was used to destroy or hide evidence and I would say "literally" complete and finalize the looting that happened then. The S&L crisis was, I believe, a trial run for what's happened this year. With time I am more and more convinced that the Bushes et al have known that Peak Oil was coming for a long time and have planned to loot wealth, keeping it out of the hands of those who could/would use it constructively. Note that both economic crises happened at the very end of Bush regimes. It has been the"cashing-out" process for their "base".



Marty said...

I've found "Google Desktop" to be an awesome personal search engine. It indexes and catalogs all the files on your computer so you can search for keywords just like the web based version. If you can remember a few words from the article other than mortgage, I'd bet $10 you could find the file(s) you're looking for. Microsoft's search through files is poor at best.

Rice Farmer said...

Though I'm not equipped to know much about this subject, my understanding is that so-called "air loans" exist in substantial numbers, and have increased quite a bit in recent years. Air loans -- called so because properties, mortgagers, etc. are typically created out of thin air -- are a major form of mortgage fraud.

Speaking of Fitts, I noticed a recent entry on her blog in which she echoes MCR by calling the current meltdown a "planetary pump and dump."

Shrimp Fried Lice said...

Sorry for being off topic..but can someone help me understand why oil and gas prices have plummeted so much, so fast?

businessman said...

shrimp fried lice...I think there are probably two main reasons why the price of gas has dropped so dramatically.

1) Demand has dropped as people began making changes in their lives when the price of gas was considerably higher. I know where I live people have told me the traffic has been reduced on their long distance drives to work.

2) I think it's also possible that there was collusion involved in having gas prices rise to where they were at to see how the people, the markets, and the economy would all react to prices at the higher level.

M. Pyre said...

shrimp fried lice, here's my view on it.

America remains primarily a consumerist economy, and we're coming up on Christmas Shopping Season. To go "shopping," most people need surplus money (credit's not very handy right now) and they need to be able to drive to the "shopping centers". Reduced oil and gas prices yield lower heating bills for houses, and cheaper driving when compared to the past 6 months of gasoline prices.

It has nothing to do with "market forces" or "supply and demand." It has everything to do with manipulation of American "consumers" via the most insensitive and greedy tactics.

A peon said...

Would have posted this sooner were my computer not lagging due to infection with spyware.Entered "paper mortages" in the search engine,and top of the list was SNAP OUT OF IT!,written just days after the 2004 pseudo-election.It was one of the first FTW articles I ever read after seeing "The Truth and Lies of 9/11" and I wish I had read it before voting for Kerry(flinching from anticipated tomato fire).Towards the bottom is this paragraph: "On October 22 Pravda reported that the Russian Central Bank had stopped supporting the US dollar. As I write this essay the Euro is now trading at close to $1.30 US (a record high) and gold is holding steady at close to $430 an ounce. It was $280 an ounce just three years ago. Sure, oil prices have dropped a bit but that has no bearing on the reality of Peak Oil. I am still expecting oil to hit $100 a barrel in 2005. What happens to your job then? Your mortgage? The housing bubble is on the verge of collapse and Fannie Mae is under criminal investigation. There may be three times more paper mortgages floating around than there are physical properties. (;

P.S. If this is posted multiple times,I appologize.I am being informed by the red font that my request could not be processed.So I try again.

Grant said...


I have followed your work since early 2003 when I found The Truth and Lies of 9/11 on the internet. I subsequently followed the link in the video to FTW, read many articles bought your audio CD's and Rubicon on it's release. Then finally following the sad fall of FTW I moved here to your Blog. First of all thank you for the time and effort you have put into your research, I felt compelled to post today after what I watched on my TV this morning.

I live in the UK and the most watched Breakfast television program here is GMTV (Good Morning Television), watched by a couple of million people daily. The program is a mildly tabloid breakfast news program that skims over issues with a smile. The program has been much favoured in the past by Blair and Brown as a way to indirectly address the nation. In the past both Prime Ministers have sat on the sofa to chat about their latest plans for the nation in a less formal manner, presumably for the benefit of those who don't follow politics or read broadsheet newspapers.

I rarely watch TV before going to work but this morning by some strange chance I turned on the TV just as this article started and and couldn't believe what I saw:

Here is what the nation was told this morning:

greatblue22 said...

I heard a brief announcement this evening on NPR stating that the Center for Disease Control is anticipating an especially bad flu season this year and recommends everyone be prepared with a supply of dried "long term storage foods" as people may not be allowed to go to work, or school or the grocery store. We may be forbidden to leave our homes by decree of the government. I guess they're going to get us one way or another. Any thoughts on this?

brisa said...

It may be that the values of all assets have been artificially inflated through exotic derivative schemes and now, as the fraud is shaken out of the system, are being priced at more realistic levels. These include oil and gold.

One can only hope that a new monetary system will eventually emerge. One that does not require endless economic expansion and suicidal over-consumption.

Rice Farmer said...

Shrimp Fried Lice -- I think it has plenty to do with supply and demand. The US is by far the biggest energy consumer on the planet. Gasoline demand is now historically low, the airlines have substantially downsized their operations, etc. Financial meltdown (behind which we can also find peak oil) has been a fantastic engine of demand destruction. And we will see more in the future.

Notably, the price of oil has fallen to about half of its all-time high. But the important question is, why hasn't it declined to something like $20?

Finally, too many things now depend on a high floor under oil prices, notably the development of new oil fields. I've been following this issue for a few weeks now. Oil producers are perforce moving into deep waters, politically unstable regions, and low-quality crude. Production costs are rising, and producers need a higher return in order to finance the development of new fields.

gail said...
This comment has been removed by a blog administrator.
kiki said...

i posted this on my blog:

well, now i know what i’m looking at and Naomi Wolf leaves me little to wonder about, except why; oh yes it’s worth your time:

Anne said...


You have answered my question re: how can TPTB "martial law" 300 million people. Fear!!! The most effective jailor ever invented. This could, however, be an advantage for those who are prepared, in that it might minimize the movement of the un-prepared.

A few short months ago dried, and long term storable foods were in very short supply. This has eased for the moment. I encourage all who can to start building a food supply that can sustain you for a long period. Even if you have not been able to buy a farm yet, or co-op food production with others, you can take yourself out of the "fear" mentality.

Sometimes 'survival' is as simple as outlasting the other guy. The one who thought it "would never happen". Yes, this is the bottom of Maslow's pyramid,but until the basics are (self) assured, nothing else matters.

Dennis from Oregon said...

Sorry for the off topic, but have you seen this??

Federal Reserve Bank of Minneapolis Research Department

Working Paper 666

The Federal Reserve concludes in this aper, supported by data, that the causes of the current financial crisis, as expressed by our leaders and media, are MYTHS!!

Cant make stuff like this up...