We were to see two videos this evening as time given over to an invited guest, who's words later paraphrased REMOVED 19/07. Hereby the second video introduced by Don and no more blogged later in review.
The members watched a video produced by Mr. Peter Schiff. Mr. Schiff is a commentator on the worlds economic situation. His opinions differ significantly from mainstream economists.
In this video Mr. Schiff appears at a US Congressional Committee hearing to answer questions put to him by Congressmen and Congresswomen about Federal Grants to the Federal Housing Authority.
There were 6 to 8 people making submissions to the American Congressional Committee in the aftermath of Freddie Mac and Fanny May debacle. Testimonials from all but one or two were in favour of "multi family funding" Through the F.H.A. et al.
The other witnesses at the hearing were representatives of builders, mortgage brokers, insurers and government organisations.
Mr. Schiff asserted at the hearing that the testimony of the other witnesses was flawed by a conflict of interest. All the other witnesses and the organisations they represented stood to make money from funding to the Federal Housing Authority.
Mr. Schiff opposed tax payers funding of "loan guarantees" and maintained that with government using "... guarantee" money elsewhere (say appropriated to infrastructure), the private sector capital utilisation in this and other respects would be beneficial as well as sustainable.
Mr. Schiff asserted that the previous funding policy was a failure and the proposed policy would also fail for the same reasons.
Mr. Schiff objected to the Federal Government's use of taxpayer's money.
Mr. Shiff asserted that housing should be left to the private sector so the market could provide people with accommodation suitable for their needs and income.
Don regrets that free to Internet/air information lags that from the subscription media -- Edit. meaning until club support becomes relevant for a review, what is brought to the club cannot be from seminal capture.
REMOVED 19/07/2012
VIDEO [First to be shown].
"Collapse ..." a Video presentation from a counter-intuitive named service provider. Be that as it may, the presenter's a pessimistic outlook for European countries he identifies, in view of overwhelming debt. Greece is one such named and a audio/visual extract from a Greek media source shows the leader of 'Golden Dawn Party" interviewed. Greece apparently has a communist-fascist representation of 20% in its parliment. This interview with Mr. Nikolaos Michaloliakos was produced prior to election 18 June this year. So the contained interview is within a "kernel" of what Don discovered, and both pre-date the recent election. Thereafter the spokesperson condemns what he calls the "international elite" for a potential crises, and why gold is being purchased by the I.M.F. et al. in inordinate amounts. The non-elites not privy to what might be pending, and whether the US and the World at large would be affected was not made clear. However he does say Europe community is in hock to America's banks for hundreds of $ billion and should things "snow ball", result CALAMITY! He advises the best hedge is gold and silver.
Privileged to have Jim at the club to give summation on contemporary Greece -- Jim is a PhD. in political science -- its politics and social injustices and what might happen after the (then) imminent election. But not only surmising,, he provided facts from reputable media outlets."
