TAKEN FROM ,”THE FALL OF AMERICA,”pg.105,”NOW THE RISE OF AMERICA’S ONCE SLAVE INTO THE KNOWLEDGE OF SELF,IN THE SPIRIT OF ALLAH, IN THE PERSON OF MASTER FARD MUHAMMAD (THE SON OF MAN), THE AUTHOR OF THE RESURRECTION OF US THE MENTALLY DEAD IS CAUSING UNTOLD CONFUSION AMONG THE HEADS OF STATE.
THE SCRIPTURE IS BEING FULFILLED WHEREIN IT PROHESIES THAT IN THESE DAYS (MEANING THE END OF THE WICKED WORLD OF SATAN), RULERS ARE AGAINST RULERS–KINGS AGAINST KINGS. IN THE DAYS OF THE PROPHETS, THERE WERE NO HEADS OF GOVERNMENT WHO WERE GIVEN THE NAME PRESIDENT. RULERS WERE REFERRED TO AS RULERS AND AS KINGS OF THE PEOPLE.
THE PREDICTION OF THE PROPHETS, WHO WROTE OUR FUTURE BEFORE WE LIVED IS NOW COMING TO PASS. THE SLAVES (OR A FOOLISH PEOPLE,AS THEY ARE REFERRED TO BY MOSES) ARE VEXING THE SLAVE MASTER. TODAY,AS THESE PROPHECIES ARE NOW BEING FULFILLED,WE ARE NOT SURPRISED AT THE TRUTH GOD GAVE TO US THROUGH THE MOUTHS OF HIS PROPHETS COMING TO PASS, AS IT WAS PROPHESIED.
THE MASTER MUST GIVE UP HIS SLAVE AND THE SLAVE MUST GIVE UP HIS MASTER. REGARDLESS OF HIS DESIRE TO REMAIN WITH HIS MASTER.IT IS THE PURPOSE OF GOD, HIMSELF TO SEPARATE THE TWO SO THAT HE CAN GIVE THE SLAVE AN EQUAL CHANCE FOR SURVIVAL,AS THE SLAVE MASTER HAS BEEN EXERCISING POWER OVER THE SLAVE.
AMERICA IS BEING TORN TO PIECES POLITICALLY AS PHAROAH’S POLITICAL PARTY WAS IN THE DAYS WHEN JEHOVAH WENT AFTER THE FREEDOM OF ISRAEL.
EGYPT WAS PLAGUED WITH DROUGHTS,GREAT HAIL,STORMS,RAIN,AND FIRE,ACCORDING TO THE PSALMS,RUNNING SIDE-BY-SIDE (FIRE AND WATER).THESE PLAGUES NOW ARE VISITING AMERICA FROM ALMIGHTY ALLAH(GOD).
OUR PEOPLE,WHO HAVE NO KNOWLEDGE OF THE BOOK AND SCRIPTURES,CAN MAKE GRAVE ERRORS IN TRYING TO CONTINUE WITH THE OLD WORLD OF THE BLACK MAN’S ENSLAVERS AND ENSLAVEMENT.
THERE ARE MANY OF OUR PEOPLE–ESPECIALLY AMONG YESTERDAY’S LEADERSHIP–WHO DESIRE TO LEAD THE SHACKLED SLAVE INTO MORE SECURE SHACKLES FOR THE SAKE OF THE MASTER AND FOR THE FEAR OF THE MASTER’S DISLIKE OF THE LEADERSHIP.
THIS IS FOUND AMONG THE SPIRITUAL LEADERS MORE THAN AMONG THE POLITICAL LEADERS OF BLACK AMERICA, WHICH MAKES MANIFEST TO YOU THAT THE SPIRITUAL LEADERSHIP FEARS NOT THE GOD OF TRUTH AND JUSTICE,BUT FEARS THE ENEMY OF GOD (GOD IS THE AUTHOR OF FREEDOM, JUSTICE AND EQUALITY OF MAN).
WE MUST HAVE UNITY WITH THE BLACK NATION OF THE EARTH, OF WHICH YOU AND I ARE MEMBERS, AND WHO ARE LEAVING IN SEARCH OF US, SINCE NOW HAVING THE KNOWLEDGE THAT WE WERE BOUND IN THE CHAINS OF SLAVERY IN THE WESTERN HEMISPHERE OF OUR EARTH.WE CANNOT COME FORTH, MAKING THE STEPS OF FREEDOM TOWARDS A FREE PEOPLE,UNTIL THE SHACKLES HAVE BEEN CUT TO ALLOW OUR STEPS TO BE MADE FREELY.
IT IS WRITTEN SO PLAINLY IN THE LAST BOOK OF THE BIBLE THAT THE FEARFUL AND THE UNBELIEVING LEADERSHIP AND THEIR FOLLOWERS OF THE ENEMY (THE BEAST)–AND THE SCRIPTURE DOES NOT TRY TO HIDE GIVING THE SLAVE MASTER ONE OF THE WORST NAMES, AS HE IS LIKE A SAVAGE BEAST AGAINST THE BLACK MAN OF AMERICA AND THE WORLD(PEOPLE OF GOD)–SHALL GO DOWN WITH THE BEAST IN A LAKE OF FIRE.
OUR UNITY WITH GOD,WHO HAS APPEARED AMONG US IN THE PERSON OF MASTER FARD MUHAMMAD,TO WHOM PRAISE IS DUE FOREVER,WILL SET YOU IN HEAVEN WHILE WE LIVE AND ON THIS EARTH,OUR NATIONAL HOME.”—-NOW LOOK AT WHAT IS BEEN DISCUSSED;”August 11, 2009
The Horror……The Horror.
Starting today, Treasury will begin it’s monthly sale of $75 billion notes and bonds. Today they will auction off $37 billion 3-year notes, followed by $23 billion 10-year notes tomorrow and finally $15 billion 30-year bonds on Thursday. The Financial Times, Record $75 Billion Treasury Sale to Test Bond Investors. reports;
While the central bank is expected to reiterate that rates will remain low for an extended period, investors are focused on the outlook for the Fed’s policy of purchasing Treasuries and mortgages.
The Fed has nearly completed meeting its target of buying $300bn in Treasuries, with about $250bn already purchased. But last week, the Bank of England decided to boost its quantitative easing limit. That has some people thinking the Fed could seek to buy more Treasuries in order to keep market rates low.
At its current pace of buying, the Fed’s Treasury programme should finish in six weeks, while the purchase of $1,250bn in mortgages should be completed by the end of the year.
Some analysts think the Fed should adopt a flexible approach and extend the terms of the Treasury buying programme until the end of the year.
That way, the Fed could buy fewer mortgages and more Treasuries, should yields rise sharply in the coming months.
Have things been screwed up for so long that the we just don’t see the insanity and the futility of this exercise? Every month, due to our sky-rocketing deficits and the official government policy on capping mortgage rates, the Fed has to run around like the Keystone Cops trying to offset the effect of new treasury supply. They do this by buying some concoction of Treasury notes and Mortgage Backed Securities, taking losses all the way, as the natural effect of supply and demand, as well as increasing market duration, takes yields higher and higher. The Federal Reserve has become a comedy act, running around on a gigantic “Fools Errand” at least once a month.
How long will it take before the institution of the Federal Reserve loses all its credibility? Their willing involvement to participate in a political program to artificially cap key interest rates and pump up, or at least artificially support the value of gigantic asset classes like residential and commercial mortgages is both futile and embarrassing. Is anybody keeping score as to whether any “gains” we might be getting by keeping primary residential mortgage rates low has offset the losses the Fed has taken on their MBS and Treasury portfolios? I don’t think so.
Yesterday, Maguire Properties, the largest office landlord in Los Angeles, handed the keys to seven properties over to their creditors (special purpose CMBS vehicles). This is starting to go on all over the country. The commercial real estate sector in this country is now suffering from the same things that residential mortgages have already suffered;
The loans were horribly underwritten.
The borrowers were a combination of bad and over-leveraged.
The borrowers had little real skin in the game.
The value of the underlying collateral was driven up by extremely cheap credit, provided in large part by the Wall Street securitization machine.
The game is over now. The government’s answer is to expand the Fed’s TALF program to commercial mortgage backed securities (CMBS)? This isn’t a liquidity problem! The bonds and loans are bad! They have learned NOTHING from the residential mortgage crisis! How is the Treasury’s Public Private Investment Partnership (PPIP) going for residential mortgages? It’s NOT EVEN GOING! The only way TALF can work even a little bit for CMBS is if somehow the rating morons can keep the “AAA” CMBS AAA. How are they going to do that when commercial real estate is down at least 30% from when most of the loans were made and borrowers are failing by the dozens? Unless they commit fraud (which isn’t beyond the realm of possibility for them) they can’t.
The question now is, will the Fed help Treasury engage in another Japanese style exercise wherebye putrefying assets are kept on bank books at cost, clogging up balance sheets and creating a legion of zombie banks? Everything that I have seen in the last twelve months tells me that they will and that scares the crap out of me.
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Posted by Eric Salzman on August 11, 2009 at 09:05 AM in The Fed | Permalink ShareThis”Click here for reuse options!