Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Forecast: U.S. dollar could plunge 90 pct

Published: Nov. 19, 2007 at 2:16 PM
RHINEBECK, N.Y., Nov. 19 (UPI) -- A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.

"We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008."

"The bigger they are, the harder they'll fall," he said in an interview with New York's Hudson Valley Business Journal.

Celente -- who forecast the subprime mortgage financial crisis and the dollar's decline a year ago and gold's current rise in May -- told the newspaper the subprime mortgage meltdown was just the first "small, high-risk segment of the market" to collapse.

Derivative dealers, hedge funds, buyout firms and other market players will also unravel, he said.

Massive corporate losses, such as those recently posted by Citigroup Inc. and General Motors Corp., will also be fairly common "for some time to come," he said.

He said he would not "be surprised if giants tumble to their deaths," Celente said.

The Panic of 2008 will lead to a lower U.S. standard of living, he said.

A result will be a drop in holiday spending a year from now, followed by a permanent end of the "retail holiday frenzy" that has driven the U.S. economy since the 1940s, he said.

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WOW ,   this is really startling news .  it's sad for the consumer , but , I'm all for these GIANTS  too fall to their deaths ......................................

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WAMU over 3,000 fired

Mortgage crisis forces big cuts at WaMu

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Map of foreclosures

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    The concept that the dollar could plunge in value beyond what has
already happened seems incorrect to me. Many Europeans I have spoken
to think the dollar is undervalued and the Euro is overvalued.
    Deflation like what happened in the 1930's is a more likely scenario
than "stagflation". No matter what the Fed or the Treasury do, the roller
coaster has reached the top and once it starts accelerating downward,
nothing will be able to stop it. For all the victims of MSF, this presents
an opportunity to get back what you lost to fraud. As the Chinese say
"crisis means opportunity". However people who have been hurt often
have a difficult time picking themselves up, dusting themselves off, and
getting back in the game.
    We can see from the headlines, that the scamsters are being destroyed
and their ill gotten gains being lost. This should result in alot of
bargains as land, houses, cars and everything else starts to get sold
at firesale prices. It could result in a massive redistribution of wealth
back to the people who produced it in the first place.
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