What a joke. All of it. Corruption, collusion, incompetence and fraud. Everywhere. From the Capitol steps to the SEC, CFTC, CME and now the NAR.
We better pass some laws or vote or talk some more before things get out of hand. As long as we continue to vote and pay taxes I'm sure regulators will look into this and clear it all up. Probably just a misunderstanding.
Do you know what "rehypothecation" is? It's when a brokerage (or Fed Primary Dealer such as MF Global) steals or "borrows" client funds to use as collateral to pay back creditors in order of importance beginning with CDS's. Used to be bond holders but that changed in 2005.
If you have a trading account anywhere, be it Ameritrade, Schwab, Scottrade or the late Lind Waldock, your account will be "rehypothecated" to creditors if/when they go bankrupt. Lind Waldock was the #1 commodity broker used by farmers and metal dealers to hedge their crops and businesses. All their money and accounts were and still are frozen. Money is gone and our CME had a job to guarantee funds much like the FDIC does. But they ain't stepping up to the plate either. This is outright theft and collusion which is destroying market credibility and will probably lead to much higher food prices next year as farmers will not hedge anymore but merely price in unforeseen events instead of paper insurance. It's all coming apart whether you know it or not.
Sorry for the mixed post but it's all one big pile of lies, greed and fraud. I celebrate it's exposure.
http://money.cnn.com/2011/12/13/real_estate/home_sales_revision/index.htm?hpt=hp_c1
Existing home sales to be revised lower
By Blake Ellis @CNNMoney December 13, 2011: 6:51 PM ET
NEW YORK (CNNMoney) -- If you thought the U.S. housing market couldn't get much worse, think again.
Far fewer homes have been sold over the past five years than previously estimated, the National Association of Realtors said Tuesday.
NAR said it plans to downwardly revise sales of previously-owned homes going back to 2007 during the release of its next existing home sales report on Dec. 21.
NAR's existing home sales numbers, released monthly, are a closely followed gauge of the health of the housing market.
While NAR hasn't revealed exactly how big the revision to home sales will be, the agency's chief economist Lawrence Yun said the decrease will be "meaningful."
We better pass some laws or vote or talk some more before things get out of hand. As long as we continue to vote and pay taxes I'm sure regulators will look into this and clear it all up. Probably just a misunderstanding.
Do you know what "rehypothecation" is? It's when a brokerage (or Fed Primary Dealer such as MF Global) steals or "borrows" client funds to use as collateral to pay back creditors in order of importance beginning with CDS's. Used to be bond holders but that changed in 2005.
If you have a trading account anywhere, be it Ameritrade, Schwab, Scottrade or the late Lind Waldock, your account will be "rehypothecated" to creditors if/when they go bankrupt. Lind Waldock was the #1 commodity broker used by farmers and metal dealers to hedge their crops and businesses. All their money and accounts were and still are frozen. Money is gone and our CME had a job to guarantee funds much like the FDIC does. But they ain't stepping up to the plate either. This is outright theft and collusion which is destroying market credibility and will probably lead to much higher food prices next year as farmers will not hedge anymore but merely price in unforeseen events instead of paper insurance. It's all coming apart whether you know it or not.
Sorry for the mixed post but it's all one big pile of lies, greed and fraud. I celebrate it's exposure.
http://money.cnn.com/2011/12/13/real_estate/home_sales_revision/index.htm?hpt=hp_c1
Existing home sales to be revised lower
By Blake Ellis @CNNMoney December 13, 2011: 6:51 PM ET
NEW YORK (CNNMoney) -- If you thought the U.S. housing market couldn't get much worse, think again.
Far fewer homes have been sold over the past five years than previously estimated, the National Association of Realtors said Tuesday.
NAR said it plans to downwardly revise sales of previously-owned homes going back to 2007 during the release of its next existing home sales report on Dec. 21.
NAR's existing home sales numbers, released monthly, are a closely followed gauge of the health of the housing market.
While NAR hasn't revealed exactly how big the revision to home sales will be, the agency's chief economist Lawrence Yun said the decrease will be "meaningful."