FREE RUFUS PAUL HARRIS
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“Fraudulent Derivatives as Currency”
If you swallowed the blue pill and bought the story that unregulated sub-par mortgage lending caused the 2007 market crash, then prepare for that pill to come back-up…and soon. At the end of President Obama's 2nd term, the average FICO score at mortgage origination was 730, down from 750 prior to his presidency. For loans guaranteed by the Federal Housing Administration, it was down to 680.
The sub-par lenders now handle 51 percent of all new loans packaged into Freddie Mac securities. This is more than double the amount prior to the 2007 crash. If the economic growth in the U.S. slow, a large swath of these lending and mortgage servicing systems will implode. It will actually be the cause of the market crash this go around. The previous crash was the result of trillions in derivatives being used as currency for world trade goods. A derivative is a contract between two parties which derives its value/price from an underlying asset. The most common types of derivatives are futures, options, forwards and swaps. Description: It is a financial instrument which derives its value/price from the underlying assets.
You see, President Clinton would appoint Timothy Guitner as ambassador to the World Trade Organization for the sole purpose of changing the governing World Trade rules. This change allowed U.S. financial institutions to pay for world goods, not with currency, but with fraudulent derivatives. At the time, they held over 700 trillion in off-balance sheet status. Today that number is closer to 1.6 quadrillion.
President Trump, the phrase need only be "no more derivatives as currency" and the bankers who obtained the trillions and the politicians who accepted lobbying funds to pass laws that allowed the bankers to dump their fraudulent trillions in derivatives into the world markets will bow to kiss the ring as fast as the words leave your lips.
God Bless and God Speed
Rufus Paul Harris