With our home loans there is no reason why we, the people, exercising the very purse power of our Constitution, cannot get home loans direct from our own Treasury. In doing so we can agree to establish stable low or no-interest home loan programs. In this way we provide reasonable mortgage vehicles not subject to the predations and disruptions of the private market. The private home lending market has proved itself an utter disaster, a predatory and even criminal enterprise, one we have seen over and over again lead to incredible chaos, pain and suffering - and all this with the very asset that is the foundation of our lives, family, and society.
Given a non debt-money based lending direct from our own Treasury, provided thru existing banks and credit unions, whether public or private, we can once and for all escape the banksters system that has destroyed so many lives and the economy as a whole.
With new legal tender laws to escape the "Federal Reserve" money and credit creation monopoly we then avoid all the secondary market chaos and Wall Street criminality which we see today and which has cost taxpayers billions in bail-outs to bankers - i.e., the very ones who abused and raped the system. With private debt-money, the social harm and costs spread to other markets and mean more banker bail-outs with yet more money which must be borrowed at interest from a private cartel that creates it out of thin air.
Were a public home loan bank system in place, all the chaos could have been, and will be, prevented via stable low or no interest Treasury-direct home loans.
If, for example, we adopted a regime of three percent fixed home loans - all funded thru local banks, savings and loans, and credit unions we could then have stable, low-interest, home loans with one big difference -- i.e., the source of funds.
Not only would we not be paying this low interest to and thru the debt-money bond dealers who own the Federal Reserve but the interest, if any, would be paid directly into our public Treasury. Such funds could then be used to make new loans or go to reduce our taxes or fund infrastructure -- all without debt-money chicanery and slavery to a private cartel.
Today's situation of forced free trade, forced globalization, and ruin of the middle class and First World Standards creating the very chaos from which we can gain the courage to begin to reclaim the "Fed" stock and completely revise our home finance system, not to mention our government debt-money bond system. With all the government guarantees in place in the mortgage market, we already have partially nationalized home finance. With the removal of these guarantees homes loand will become increasingly expensive and hard to obtain. We will remain at the mercy of Wall Street and private bankers instead of establishing a simple treasury-direct system home loan system.
Nothing is more indicative of the stone cold oligarchy within which we are trapped then the absence of any discussion of exactly such a program. Must we wait until the system collapses under the weight of forced debt-money, and the fascist parade beings in earnest, to hear a discussion of Treasury-direct home loans, nationalization, state banks, or a public central bank in this "free country" of ours? Must we eternally bow down before the money God, Goldman Sachs, a promethean too-big-to-fail entity wherein our Treasury Department appears be be nothing more than an in-house subsidiary?
Real home loan reform is not only possible today but absolutely necessary. First, however, something other than complete private bankster control must be broached and freely debated not only in Congress but in a media free of corporate control (see EditorFreedom.com). This is a tall order at present as the "weapons of mass distraction" are currently out of our hands -- despite the fact the public owns the airwaves we still have no say in editorship.
Clearly, the family home is the very building block of society -- our society. We should then be able to decide (easy with a National Initiative process) that we are going to act like any small community and help our neighbors build their homes and minimize the cost -- just like a nation-wide "barn raising." Or, do we want to screw our kids with endless debt-money interest, non-portable equity buildup, and recourse loans only for the little guy?
We can decide we are not going to place our families at the mercy of amoral, far-flung, investors who could care less that we lost our job to "free trade" with China or that we now face losing our home, our life savings, our health, and facing divorce over money matters. The landscape is now littered with debt-beaten and broken families for these very reasons, and mortgages idiotically bought and sold into pieces.
We are being screwed more ways than you can count today and thing promise to get worse with a "New Democrat" in the White House serving corporate interests.
In any case the home lending disaster all stems from a corrupt "independent" private central bank system. Independent of whom you ask? Why, the people, of course, but not the banking cartel owners of the "Fed."