Josh Sigurdson sits down with author and economic analyst John Sneisen to talk about Wells Fargo’s most recent dramatic move as the crooks attempt something incredibly reminiscent of what banks did just before the 2008 recession. However, this time it’s going to be far bigger.
Wells Fargo has begun making mortgage deals that were shunned following the 2008 crisis.
Mortgage backed securities were a massive part of what shoved individuals into debt and poverty in 2008. It’s a move a bank often makes when they foresee an inevitable crisis. With collateralized debt obligations out of control once again, following BMO’s similar move recently, this is just one more of many signs that we are on the verge of the inevitable fiat collapse and the bubbles in the artificial markets are ready to burst.
Collateralized debt obligations (CDO) are packages of countless bad mortgages, mixed with a few good ones so that they can rate the packages by the top brass, giving them triple A ratings. This is fraudulent and destructive and something the people of Detroit know all too much about.
If this doesn’t make you angry, we don’t know what will.
In this fiery report, Josh and John break down exactly what’s happening and what it will lead to.
All fiat currency eventually reverts to its intrinsic value of zero. Always has, always will. While the fundamentals are off the table due to the level of manipulation and we can’t truly put an exact date on the crash, we know it will happen. There’s no way around it. A debt jubilee will help but it won’t stop the force of the storm.
This goes for the markets as well. When markets are manipulated into oblivion, eventually a bubble forms and inevitably bursts causing mass panic. This is just another reason why we need free markets and a free monetary system, free of manipulation, central planning or coercive abuse. Debt slavery is the goal and the individuals must resist!
Stay tuned as we continue to cover this alarming development!
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