goBigtime

Man.. sooo many of his quotes seem like they were made by someone living in todays society.


Take this one for instance....


"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."



This is a scary one.

The federal reserve (which is a private entity) just started raising interest rates again... but right before they did, they had Gr33nspan out there pushing ARM's (adujustable rate mortages) of all things.

How fucking evil is that?

They just got damn near everyone in the country who could to buy a house, or refinance etc etc...

I think on average people are spending ~50% of their net income towards their mortage.

So now (imo) the rates are going to steadily increase.... and if you have an ARM, your house payment will steadily increase as well.

Eventually you may have to make a choice between owning a house and being able to pay for the basic monthly needs of your family.

So, it goes without saying that people will choose to take care of their family - and put their ARM'd houses on the market for sale.... more and more people will do it with each interest rate increase.

This will hurt the housing market and probably pop "the housing bubble" that many think doesn't exist.

As the prices fall, and housing values take another hit with each interest rate increase, eventually even some of the people with FIXED RATE mortgages will start to list their homes too because they wont want to watch their equity slip away.

This will cause further devaluation of the market.

In this scenario, eventually most of us will be renting.

Just like Jefferson said.

Scary.