With George Noory
Live Nightly 1am - 5am EST / 10pm - 2am PST
Foreclosuregate - Shows

Coast Insider

Listen with Windows Player
High  Low
NOTE: We'll discontinue our Windows Media Audio in August 2015. Subscribers will still be able to listen to the show through our Coast Player in the link above.
Not a member? Become a Coast Insider and listen to the show 24/7
Advertisement

Coast Insider

Listen with Windows Player
High  Low
NOTE: We'll discontinue our Windows Media Audio in August 2015. Subscribers will still be able to listen to the show through our Coast Player in the link above.
Not a member? Become a Coast Insider and listen to the show 24/7
Advertisement

Last Show Recap

Foreclosuregate

Host Connie Willis (email) was joined by Joseph McMoneagle, known as the best Operational Remote Viewer in the history of the U.S. Army's Special Project-- Stargate. First hour guest, Philadelphia author, Thom Nickels (Amazon page), shared weird stories of the founding fathers of the US, including the secret life of Ben Franklin.

Upcoming Shows

Mon 07-06  Cells & New Biology Tue 07-07  True Paranormal Encounters Wed 07-08  The Light Alliance Thu 07-09  Space News/ Cryptid Sightings Fri 07-10  Witchcraft & Steampunk/ Open Lines

CoastZone

Sign up for our free CoastZone e-newsletter to receive exclusive daily articles.

Foreclosuregate

Show Archive
Date: Sunday - November 14, 2010
Host: Ian Punnett
Guests: Greg Hunter

Ian Punnett welcomed investigative reporter Greg Hunter, who detailed how foreclosure mills are creating massive amounts of counterfeit promissory notes, so banks could legally foreclose on homeowners. "When you start drilling down on this, you're going to find all kinds of malfeasance," he declared. However, Hunter lamented, unlike the Savings and Loan crisis of the 1980's which saw about 1,000 people sent to jail, the current financial debacle has yet to yield any indictments, despite being forty times bigger. "Not a single person has been charged criminally," he marveled, "with what I think is the biggest fraud in all of history."

Hunter explained that promissory notes are a critical aspect of the unfolding Forclosuregate. These notes, he said, are supposed to act as proof that the bank has the right to collect on a mortgage. However, Hunter revealed, as the larger banks purchased mortgages in bundles, many of these promissory notes were lost. Likening the notes to physical dollars, Hunter pointed out that they are "financial instruments," and, thus, cannot be recreated or copied for official use. As such, he cautioned homeowners who are currently paying a mortgage that "you don't know what they're going to say at the end of 15, 20, 30 years of you paying." Along those lines, he shared one troubling tale of a man who paid off his mortgage and was then told that the deed to his home was essentially lost in the mire of the Fannie Mae and Freddie Mac meltdown.

Looking ahead to the future, Hunter warned about what he called "the Fed's biggest fear." He noted that many adjustable rate mortgages will be recast over the next year, resulting in a massive increase in payments for homeowners, peaking in November of 2011. However, the stream of income from the homeowners must continue in order to maintain the economy. Therefore, Hunter theorized that the Fed will take a number of dangerous steps in order to "keep interest rates artificially low until this clears out." This course of action would result in people staying in their homes and still paying their mortgages, but would also "destroy the dollar while you're doing it."

Related Articles

Deciphering an Old Dog's Trick

In an attempt to design better appliances, physicists have turned to nature in order to learn the secrets of how animals shake themselves dry. Using sophisticated technology, researchers have determined the science behind the process and why it is so successful for mammals of varying sizes. While 'the shake' is particularly potent for larger animals, which have looser skin, the study revealed that tiny creatures using the same technique can generate up to 20 g's of force to accomplish the drying feat. More on the story here.

Bumper Music

Bumper music from Sunday November 14, 2010

Advertisement