PROFESSOR BLACK DROPS A BOMBSHELL: “Fraudulent, Valueless, Criminal”


“THE BLOOMBERG INTERVIEWER ALMOST SWALLOWED HER TONGUE”
Bloomberg had an interview this afternoon with Professor Black who is the author of The Best Way to Rob a Bank is to Own One.

He could not be silenced. Professor Black said, amongst other javelins in the heart of MOPE (Management of Perceptions Economics), the following:

1. Securitized mortgage instruments are all fraudulent.
2. The Fed is holding a huge amount of these as collateral.
3. They are valueless.
4. The manufacturers of these are, under commercial and criminal statute and law, criminals.

The interviewer almost swallowed her tongue.

Gold will trade at and above $1650. QE to infinity is not a choice, it is all that is left (Jim Sinclair commenting on Black interview at jsmineset website)

Harvey Organ had this to say about the interview:
“And now for the big economic stories of the day.
Professor Black, who has been very vocal and accurate on the mortgage mess gave an interview on Bloomberg yesterday.(I have referred to Prof Black on many occasions in my previous commentaries)

He basically is stating that the securitized mortgage instruments are ALL fraudulent. The Fed is holding a huge amount of these mortages and they are valueless and the authors of these instrument are criminals.

Question: What does this mean now for real estate prices, bank solvency, dollar dilution, and the likelihood of a “double dip depression”? Whatever the answer, this reality needs to be factored in to your thinking.

you can view at the following link:

finance.yahoo.com/video/marketnews-19148628/black-says-major-frauds-continue-at-mortgage-companies-video-22585270

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A blog dedicated to exploring new ways of thinking that lead to success in business and in life, & creating the person you really want to be. We apologize in advance for anyone we inadvertently or purposely offend and would like to take this opportunity to emphasize the importance of keeping a good sense-of-humor and an open mind. Enjoy. "You have to be able to risk your identity for a bigger future than the present you are living." ~Fernando Flores "I am actually a paranoid in reverse. I suspect that people are secretly plotting to make me happy." ~J. D. Salinger "You have to create your life. You have to carve it, like a sculpture." -William Shatner "The only reason they come to see me is that I know that life is great- and they know I know it." ~Clark Gable
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One Response to PROFESSOR BLACK DROPS A BOMBSHELL: “Fraudulent, Valueless, Criminal”

  1. Huntsberger Inc says:

    “THE BLOOMBERG INTERVIEWER ALMOST SWALLOWED HER TONGUE”
    Just re-read this article. Even more relevant now than it was 2 months back.
    Bet most people don’t know this is our reality.

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