An Exchange On Securitized Debt Obligations Between Jim and Yra

This is very important.

The following is an exchange between Yra Harris and I on the securitized debt obligations of home mortgages.

Yra Harris:

The Kentucky court issue is just another case. Two years ago a federal court ruled against a Deutshe Bank foreclosure claim on the same grounds. To blow my own horn, in the book "Inside the House of Money" I was interviewed and warned that this securitization was going to be a major issue. Greed blinds those who only see short term green.

Jim Sinclair:

Agreed, but Kentucky is a Rico action and class action suit. That is why it is so important.

Yra Harris:

Yes that is true, but it is interesting at the same time that JP Morgan and Bank of America step back from foreclosures

Jim Sinclair:

That is because the entire thing is a bag of worms. That is the collateral for securitized debt obligations based on just these same mortgages.

This is huge, simply huge.

Yra Harris:

For that is how Wall Street has truly raped Main Street.

Jim Sinclair:

Yes and think of all the public pensions stuffed with this crap

Jim Sinclair:

The RICO (organized crime) statute in a civil suit is usually used to force a settlement. If the banks lose under RICO they sacrifice ALL their assets.

The key to RICO in a civil suit is to prove a PATTERN. Listen to the video posted today and the pattern screams at you.

The only logical settlement here is to void the foreclosure. Keep in mind this is a class action. It could sign up 100,000 complaints if that is desired by the attorneys.

This suit, if successful, will be repeated all over the US.

The Deutsch Bank suit occurred in a vacuum without the PR this is going to get in publications like the New York Post and Rolling Stone.

Each time that happens an item of collateral on the securitized debt publicly dies. That is why this is dynamite that people will realize very soon. This is one reason gold is up hard today.

The guys that made securitized debt are buying gold by the ton because they know what it means in the form it has surfaced yesterday.

They are in touch with many major producers.

Source: jsmineset.com