Tekno's Jekyll Island

[teknobucks]

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rokid wrote:

P.S. Here's the linkthat addresses Griffith's book and debunks the Fedconspiracy theory.

http://www.publiceye.org/conspire/flaherty/Federal_Reserve.html

love how this guy writes....."Like many of the other Federal Reserve myths, this one has a small degree of truth to it"....kinda like true lies....:*

LOOK:

1) if you don't think the fed and the world banking community is suspect.

2) if you do not believe the central banks of the world run things.

3) if you thinkmonetary repo operationsall non manipulative in nature.

4) and if youthink the boyz on jelyll island were out after our best interest (no pun) and that the islandhas no signifigance other than being a good golfing resort.

then i have lost my point with you.......YOU WIN o

 

[rokid]

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then i have lost my point with you.......YOU WIN o

OK.

Division of labor:

You keep your eye on the FED and the century long international banking conspiracy.

I'll worry about the war in Iraq, the sky rocketing deficit, the apparent lack of leadership at DHS, the loss of civil liberties,poverty, universal health care, the Redskins, the Red Wings (you see a red pattern here ), the Nats, and Bush's incompetence.:^

 

[teknobucks]

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rokid wrote:

You keep your eye on the FED and the century long international banking conspiracy.

I'll worry about the war in Iraq, the sky rocketing deficit, the apparent lack of leadership at DHS, the loss of civil liberties,poverty, universal health care, the Redskins, the Red Wings (you see a red pattern here ), the Nats, and Bush's incompetence.:^

rokid...rokid....rokid

some how u have missed my point..........it is not a hiden conspiracy....it is not something to lose sleep over...it is not something to worry about....it is not about despair and gloom. it is about a system that functions before u every daywith a direct impact on your wallet. they state in not so plain english here who and what they are.... http://www.federalreserve.gov/general.htm

creature from jekyll island just puts it in plain english....better than any other booki've read.

(the books on the subject all say the same thing...except for that url of yours from those left wingtwits in mass....they do not have a clue btw)

what they (the fed) do is fabricate money from nothing....NOTHING!!!! there is no money only repos...checks drawn on empty accounts...LOL

once u understand how central banking works then u can begin to see how the financial underpinnings of our western world operate. the key to making money in stox is placing money in front of social change at the right time.the bankers of this world control the changesbecause they have complete control of the money supply.

tekno

ps: why not invest based on the sky rocketing deficit v. worry about it.

go ahead and worry about those redskins tho....:shock:

************************************************************************

if u have any direct evidence showing that the fed and the world bank are wholesome operations post your data. i do like to read about it..........however the blogs from a gay and reproductive rights group portraying themselves as financial experts isjust not gonna sway me a bit.

 

[Spaf]

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Rokid..........Tekno........and I'll include The Technician (a respectable bear)!

Heated discussion, hey OK! Fine, like to hear it!

You three have been polite and respectful!

Thanks :^ Spaf

PS: And!!!

 

[rokid]

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Spaf,

Yeah, we've beaten this one to death. On to the next issue. How about them Redskins? Unbeaten, with a total of two offensive touchdowns!:^

 

[Quips]

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Not so long ago Greenspan -- maybe a year ago at the most -- encouraged prospective homeowners not to shy away from adjustable rate mortgages. Some here may remember that.

Now why would he encourage them to take out ARMs? With the "measured pace" interest rate increases, it certainly is not making money any less expensive. It would make sense, I suppose, if Greenspan's remarks were directed to those with a very good credit rating, but generally those people wouldn't consider an ARM unless they didn't plan to stay in that peoperty very long, i.e. less than three years.

Well, good credit rating or not, I suppose it makes sense if the home purchase was less than three years, an ARM would make sense for anybody But I don't think he had that niche in mind when he made that comment.

So Greenspan touted ARM about a year ago? Why? Just for increased profits for the banking industry?

Very interesting ... some of the ARM holders are going to get bit by the banks, and will certainly increase the bank's profits. Could be a nice windfall for some mortgage banks and those holding the loans.

But the risk is this: some who would not otherwise qualify for a loan have taken out ARMs and interest only loans, and now that the squeeze is on, well time will tell if they are able to make good on the payments, etc.. I expect -- at the least -- an increase in the number of late mortgage payments just as that is evident this year with some credit card payments/purchases. Probably an increase in the number of bankruptcies, but not enough so as to make ARM unprofitable

Still, Greenspan did encourage many to take out ARM, and I suppose he said that with the mortgage banks' interests at heart ... and those who invest in that segment.

 

[Show-me]

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heehee He's just looking out for us.

 

[mlk_man]

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I believe the new bankruptcy law goes into effect next year which makes it harder to file one. Probably be a lot more foreclosures. Get ready pyriel.........:^

 

[pyriel]

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Quips wrote:

Still, Greenspan did encourage many to take out ARM, and I suppose he said that with the mortgage banks' interests at heart ... and those who invest in that segment.

He did encourage ARMS as an alternative way to borrow. And you are right. He made that recommendation to encourage more people to borrow. However, there are many different kinds of ARMs and for investors, they are really not bad. There is a 1,3,5,7 year fix then converts automatically to ARMs. This allows investors to pay less closing and lower interest. Some people who would not have been able to borrow because of poor credit were able to take advantage of this deal with assumptions that if they pay their mortgage consistently that they will be able to repair or increase their credit worthiness.

I do feel that there are alot of people that got sucked into this. But for now, I don't foresee it damaging the economy. If the FED continue to increase rates and trust me they will, they are going to be in alot of hurt.

I bought a property using 7 yr fixed and automatically converts to ARM. Ifigure that in 7 years, I canget equity from the property, received cash flow for it, deduct as much as I can to lower down my income, and all along let my tenants pay for my mortgage. Yeah... I'll jump in any ARMS rate if the deal is right...

The problem with real estate investors like me is cash on hand. Our cash is always tied up and good deals comes in spurts. Jumping in to a 1 year fixed and ARMS afterward is not a bad deal at all since we can remortgage it once our cash is freed up from our investments... Just my .02 P

 

[teknobucks]

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agree with pyriel here.....arms have become a great tool for the real estate investor.

flipping the property inside the fixed timed frame is the cats meow!!

right now both the stock market and this tropical storm are kicking my tail......hope to dry out soon

 

[mlk_man]

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I wonder if this has anything to do with Charles Givens, the info-commercial guy I watch when I can't sleep?

 

[Quips]

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pyriel wrote:

I do feel that there are alot of people that got sucked into this. But for now, I don't foresee it damaging the economy. If the FED continue to increase rates and trust me they will, they are going to be in alot of hurt.

I bought a property using 7 yr fixed and automatically converts to ARM. Ifigure that in 7 years, I canget equity from the property, received cash flow for it, deduct as much as I can to lower down my income, and all along let my tenants pay for my mortgage. Yeah... I'll jump in any ARMS rate if the deal is right...

The problem with real estate investors like me is cash on hand. Our cash is always tied up and good deals comes in spurts. Jumping in to a 1 year fixed and ARMS afterward is not a bad deal at all since we can remortgage it once our cash is freed up from our investments...



First off, I wish you success in your endeavors.

Yet Greenspan encouraged many to finance their property or properties via ARM. But did or does he expect those who did or do not either have a very good credit rating or a sizable downpayment to change their behaviorswithin 2, 3, or 5 years and become financially prudent? After all their lifestyle and spending habits required most of them to pursue unconventional financing.

Also, there is a difference between investing and speculating: the real estate market is large and diverse. Yet most would agree that property appreciation in real estateover thepast few years is not sustainable. If a particular property appreciates 14% a year over 7 years, well that's close to 100% -- minus 66% interest paid over that time frame -- that which is not tax deductable. Inflation would make one's payments in cheaper dollars as well.

Refinancing is a benefit as well, but that comes at an upfront cost too.

I hope your endeavors are successful.

 

[mlk_man]

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Question. I didn't pay any attention to, nor did I know anything about, the market in 2000-2002. I'm sure a lot of us here didn't either. Can someone tell us what the main reason was for the market bottoming out? Inflation, deflation, recession, taxation, manipulation? I think it might help all of us if weknew what started it all. Me anyway.

Forgive me for my ignorance........

I'd also like to hear from a "regular Joe" who was going through it and not some analysts opinion who got paid to talk about it. I think we get a better idea from someone who has been through it instead of someone who "reports" it. Any chance we areheaded that way again? Tom?

Thanks,

M_M

BTW, Lindsay Lohan wasn't driving this time, but apparently the papparazzi was the reason again..........

 

[Quips]

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http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_baum&sid=a2WnQ1aK8zBg

The columnist mentions inflation is more a matter of the money supply than anything else, i.e. oil prices, labor market, etc.

It would be interesting to know what percentage of income mortgage loans account for, and then what percentage of that are ARM.

Some would say ARM may be similar to other "high yield" bonds. There are exceptions to the rule, but it generallyassociationis of higher risk... and so a greater chance of default.

 

[The_Technician]

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MM....I was paying alot of attention to the market at that time and it just played out....the Reagan push and Bush push was left with the Clinton legacy....which didn't push and it opened the door for a final'e.....I remember telling some people at the golfcourse in June July timeframe before the election that when Clinton loses, and Bush wins, the economy was going to go south.....as a matter of fact it started to go south that summer......the information and communication tech was maturing and that was driving the economy at that time....they had reached their peak for the time being and there was no where else to expand to in great strides....the auto industry which at that time had benefited from the computer technology was going gangbusters from the new technology and accuracy that computers were bringing to their designs.....

The economy had expanded and then it quit.....we are now in the aftermath of that expansion and we are waiting for the next great market idea to come along which will be another 10 or so years .....until then, we are robbing the land to gain wealth, taking houses and such, or we are investing in new lands to gain wealth....producing needed goods and services at high prices to pay for our high bills that are ever so often are going up ......strange how the government hasn't recognized this for years.....when all along they started the inflation thing with the massive influx of the M3 money supply.....

So lets all plug along together shall we....or shall I say "lets all slip slid away together"!!!
:dude: