When A Simple Question Becomes Too Complicated To Answer
(www.youtube.com)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (13)
sorted by:
Well, I certainly hope you are not exposed to the MBS bond market right now.
Chase just announced to sell 13B of a 31 year security. That's the exact same age of the MBS bond market, created 31 years ago.
BoA just announced to sell 15B of asset bonds. Mortgages to banks are assets.
Both are already over leveraged with derivatives.
Five big bank CEO's are meeting House/ Senate banking committees on May 26th and 27th, just a few days before the moratorium expires.
I called an MBS bond market crash this past Wednesday.
Millions upon millions of mortgages are in legal default because of the moratorium sanctioned by the government, which had no legal standing to do so.
Courts are reopening and am more than sure mortgage companies already have foreclosure filings crafted and ready when the moratorium expires.
Good luck with your trading!
The only way to stop the tsunami of foreclosures is indeed debt forgiveness. It is feasible that we go from forbearance to forgiveness. Debt forgiveness for a CBDC UBI directly into digital wallets. Hence the WEF's slogan You'll own nothing and be happy.
That would definitely avert an economic collapse.
So grateful I, nor my family are exposed to any mortgages!
I have to presume the same modus operandi would apply to car notes in default.