Subprime Credit Crunch Could Trigger Collapse
February 5th, 2007Via: Autodogmatic:
Some of you might have seen my new informational site, the Mortgage Lender Implode-O-Meter. But for those who haven’t, I started this site to coherently track a story that is otherwise only quietly developing on a smattering of disparate finance blogs and message boards, with little treatment in the mainstream media (MSM). That story is the collapse of mortgage lending finance, especially in the subprime sector.
I and others had been expecting this for the better part of the last year (many, even longer, but I’m a newer observer). The subprime shakeout is predicated on the deterioration of subprime mortgages and mortgage-backed securities (MBS), which is in turn caused by rising delinquencies, which is in turn caused by the deteriorating financial position of most Americans. So really, it was a no-brainer, except apparently to the brilliant boyz of finance who listen to too many talking heads telling them what they want to hear about the “goldilocks” economy.
Well, I’ve got news for the goldilocksters: the three bears are home.
Related: Life Inside a Wall Street Chop Shop
Research Credit: David
Goldilocks is about is about to be locked out of the gold market…
http://www.ameinfo.com/108894.html
The International Monetary Fund is in the process of revising the laws that govern the trading of gold by the world’s central banks which will radically change the ability of central bankers to suppress the gold price, a major factor depressing the price of the yellow metal that has been an open secret for years.