What do we call those who sit by the ocean baiting hooks and catching fish? They call them ROCKS!
Headlines show us the Rockefeller-owned and run Chase Manhattan JP Morgan bank has just pulled a huge catch out of a planet-wide misfortune. The Rocks and the Roths are expert fishermen. Ever study the fishing industry? It's full of men who understand words like bait, harvest, the tides, weather and the tiny minds of FISH, men who lower hooks, nets and traps every hour of the day. The famous CHASE MANHATTAN BANK, now CHASE JP MORGAN, is an example of a super evolved fishermen only OUR lives are its SEA.
These fellows are patient. They sit finger in the wind waiting for the perfect storm. EVERY TWENTY YEARS or so, these Rocks look out at their ocean, see all their boats lifting in the tide and say, 'it's gettin' to be time, 'time for a harvest.' They quietly lower their nets, drop their hooks, nets and lobster traps silently, everywhere at once.
Their flunkie, LORD NEPTUNE Greenspan, hears them calling and knows what that sirencall means; he starts setting the tides just right to give a more gentle rise and fall tidal movement to the surface of the water, achieving a nice slow, easy pulse to interest rates. Smooth low, smooth middle, but no peaks, just keep it medium, as that gets the fishies all relaxed.
And then it happens. The ROCKS and their fishermen sit on the side of the great ocean and watch as low rates cause a buying frenzy. The frenzy immediately drives Real estate prices up into a BUBBLE, ridiculously HIGH HOUSING prices. The Rocks spot it, their keen predator eyes on a 360 degree horizon and as the frenzy is visible all over the water as little, excited fish fins quivering in excitement, and every fish has a hook in their mouth, the price tide rises again, slowly. The Rocks let out the fillament, the line, relaxing interest rates, a little, then more. Feeling for the last spate of nibbles though prices have gone through the roof, there still are dumb fish who sign on
as hey, from the poor, doomed fish's point of view, low rates create the perfect opportunity for home ownership. Sure it's a High price but with this bubble, maybe getting higher! After all, these are these glistening, low rates! From a fish's underwater position, this combination is appetite enhancing. It works, every time. All the fish everywhere STRIKE at the BAIT! Cram outside the doors of banks and get accepted! They can't believe it. They swallow the loan. voraciously, bite down on this big fat posh home even though real estate prices are at this all time furious HIGH! Low interest rates make it cheaper than rent!
At the same moment that home prices soar to an unbelieveable peak, whammy! The Fisherman sitting on the Rocks sees he's got a tidal wave of hookups, there are FISH on every gangion, hook, line, in all the traps, in the nets, by the trillion, All who bought with variable interest rates, and the fisherman makes his MOVE, jerks those NETS up, pulls the lines in, yanks the traps upward into the sky FULL OF HOUSE-HUNGRY FAMILIES gasping for air as they were asleep, lying around kissing their WALL TO WALL CARPETS only now, they're up in the toxic air, evicted, flopping on the rocks or pier, suffocating, homeless, screaming bloody murder. Only fish can't scream. They can only blog.
Only the little fish dies. THE BIGGER FISH dolphins, whales take longer to suffocate. The biggest catch actually aren't fish at all, they ARE FLOPPED BANKS which actually got caught TOO and to the Rock Fisherman, the BANKS FLOP the BEST of all with a satisfying scream. "HOW COULD we HAVE BEEN SO DUMB? We're supposed to know about stuff like this!" These are big, fat meaty critters and some of them asphyxiate right there on the pier. But not all. The ROCKS quickly wade out in this melee of flopping fishes & SELECT the rare species, the pleasing banks that appetize them, I'd pick that LING COD, that salmon, or that BARN DOOR HALIBUT, EVERY KIND of meaty BASS. The Rocks are just as selective. To them, some of the banks are like bonbons in a candy store. WAMU is a real peach. CUTE ads, free checking, GADZILLIONS of depositors. People adore those TV commercials. Let's take that one!
They retrieve these few prime floppers and throw them some water so they can breathe and now they take these pretty fish home and create AN AQUARIUM around their catch which is LEFT ALIVE with all its roe, its depositors now in the hands of the Rock Fisherman. http://www.masterjules.net/fisheatfish.htm
The Rock Fisherman's style of GOING AFTER BANKS changes from decade to decade. Cuz if you kept doing the same stroke, obviously even the dumbest of fish would figure it out.
Think back to THE S&LS which pulled in all the ARAB OIL money, the petrodollars back in the 70's & 80s. Of course they were AMERICAN DOLLARS as we'd bought the oil, but now they were Arab Dinars.
The ROCKS cast their nets out into SAUDI ARABIA, and all the little oil sheiks bit. The nets came in full. Then the ROCKS & a lot of TEXANS and COLORADANS who were all chums, the sons of the super rich FLOPPED THE BANKS OVER, and JUST blindly STOLE those petrodollars. When only l00k is insured
and HAMID had fifty million or two billion in there, SOREEEEEEE doesn't mean much. The Juniors crashed the S&LS all deposits vaporized while the Arabs stared in horror. Please, Mr Oilman. This little BANK we told you
about, we had no control you understand, it somehow WENT BROKE! Saudis are one generation from being nomads, like oil rich INDIANS. http://home.earthlink.net/~astrology/arab.html
but they decided to do one thing, RUN with OPEC and charge 50 times 3$ a barrel, more like $150, and get their damn DINARS back. Only this time it came out of OUR HIDES.
So that's how the tides, weather and locals either fish or get fished. Always watch for those deceptive, gentle tides, sweet weather, low interest rates coinciding with slowly, deliberately rising HOUSING PRICES. DOn't be tempted to put your little boat out on the sea of home owning, in a little leaky boat patched together with
variable rates just then, cuz trust us, there are ROCKS OUT THERE!
What do you say we gang up on them, nail their asses?
We got forensic accountants who can prove you were pulling the strings. Huh, Who's
the big fish NOW?!
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