Sunday, April 1, 2007
Invasion imminent…..Dollar collapse just as imminent
UK Sterling consigned to the dustbin? House Price chattel slavery for millions? There will be more of the following.....
At the Justice Center in Hackensack, New Jersey, on Friday, the wood-paneled room is filled with about 40 people and the auction is routine. The first property on the sales sheet lists a Korean homeowner with $509,000 of outstanding debt. There are no bidders. Deutsche Bank, holder of the busted loan, buys the property with a quick $100 bid. Sheriff McGuire calls the process "one of the most distasteful parts of my position." He places most of the blame on bankers who allowed questionable lending practices.