The announcement by US Treasury secretary Henry Paulson and Federal Reserve chairman Ben Bernanke, that the US government will bail out the two largest guarantors of the country’s housing mortgage debt – Fannie Mae and Freddie Mac – is more evidence of the New World Order strategy of transferring the wealth of the middle class to the bankster elites at the top of the New World Order pyramid.
Most people’s minds are turned off when they hear the word “conspiracy” to explain a situation and quickly explain it away as being whack-o and not in the realm of possibility. Yet, the fact is… the U.S. Congress created Fannie Mae in 1938 during the Great Depression as part of president Franklin D Roosevelt’s New Deal, intended to be a privately owned government-sponsored entities, or GSE, that would enable Americans to finance buying of homes as part of the country’s attempt at economic recovery. Freddie Mac was later formed by Congress in 1970, to help revive the home-loan market. Congress started the companies to promote home buying and their charters give the Treasury the authority to extend a US$2.25 billion credit line.
Now, Bernanke and Paulson want to provide unlimited liquidity to prevent their collapse.
I submit that the evidence is compelling that there is an ongoing conspiracy, hatched by the New World Order nearly 100 years ago, to reduce the U.S. to a vassal state.
Fannie Mae and Freddie Mac, as private stock companies, have gone to excesses in leveraging their risk, much as many private banks did. The two companies either own or guarantee about half of the $12 trillion in outstanding US home mortgage loans. Fannie Mae also has $831 billion in outstanding corporate bonds and Freddie Mac $644 billion.
Freddie Mac is upside down, owing $5.2 billion more than its assets are worth today, meaning under current US “fair value” accounting rules, it is insolvent. Fair value of Fannie Mae assets has dropped 66% to $12 billion and may go negative next quarter. As home prices continue to fall across America, and corporate bankruptcies spread, the size of the negative values of the two will only continue to grow.
In the 1992 book by Dr. John Coleman, “Conspirators´ Hierarchy: The Story of the Committee of 300,” Coleman exposed the global elite plan to “deindustrialize America… to accelerate the collapse of first the steel industry, and then the auto and housing industries… resulting in a postindustrial, zero-growth society.” He went on to allege that the elitists will create “one crisis after another” in order to more easily brainwash and manipulate the populace. He speculated that “we are being brainwashed [by the corporate controlled media and by other scientific-based methods] “to give up the Constitution itself.”
Treasury secretary Paulson, former chairman of Wall Street investment bank Goldman Sachs, announced that the Bush administration would submit a bill proposal to Congress to make taxpayer guarantee of Freddie Mac and Fannie Mae explicit. In effect, nationalizing the $6 trillion agencies and using taxpayer dollars to bail out the insolvent companies.
Standing ready by Paulson’s side to pump unlimited liquidity into the two companies is the Federal Reserve. Bernanke’s enthusiasm to print more money out of thin air is good news to the New World Order banksters excited at the prospect of limitless loans to the American government to be paid back with interest by American taxpayers.