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Collapse Is Happening, Cities Can't Sell Their Muni Bonds.

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Muni Bonds are issued when Cities need to borrow money to build infrastructure, schools. hospitals, etc..

It’s gotten so bad, that cities are now borrowing money to pay for the money they’ve already borrowed. But now, they’ve come to a point where they can’t borrow any more, which will cause massive nationwide govt collapse…

 

With yields on the U.S. municipal bond market rising, local issuers on Monday postponed another six bond sales, totaling $331 million, that were originally scheduled to price later this week.

Since mid-June, on the prospect that the Federal Reserve could change course on its easy monetary policy as the economy improves, the municipal bond market has seen a total of $2.6 billion in sales either canceled or delayed.

Last week a total of nine deals for $2.3 billion were postponed.

http://www.cnbc.com/id/100841164

People have no idea that cities have been gambling taxpayers money in the LIBOR rigged gambling ring called swaps…

The issue turns on the “credit default swaps” that the banks tricked cities into taking. This is another financial weapon of mass destruction, like sub-prime mortgage loans. Cities issue bonds to get cash for projects, thus they must make regular payments on the bonds. Wall Street is the aggressive party here, not the cities. The financial boys try to sell the cities a form of insurance called an “interest-rate swap”. The deal is that if interest rates stay high, the bank will pay them extra as insurance, but if the rates stay low, then the cities pay the bankers.

Somehow the Banksters were eerily prescient: since 2008, the Fed has kept interest rates at zero “to stimulate the economy”. Now cities, school districts and water boards pay the banks millions of dollars a month. But the kindly bankers do permit cities to pay exorbitant termination fees. Between 2006 and 2008, banks collected at least $28 billion from cities on top of the swap payments. (3)

The Office of the Comptroller of the Currency reported in 2012 that U.S. banks held $183.7 trillion in interest rate contracts. Only four firms represent 93% of total derivative holdings: JPMorgan Chase, Citibank, Bank of America and Goldman Sachs. (4) They are the bedrock of the derivative market.



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    Total 14 comments
    • Anonymous

      JPMorgan Chase, Citibank, Bank of America and Goldman Sachs are the festering boils of the free market system. It’s time to lance them once and for all.

      • stompk

        And the closed loop of the Washington-Wallstreet cesspool

    • Old Harry

      Isn’t it nice to know the banks and government are there to help … “themselves”!

      • stompk

        No, but their car is fixin to crash into the giant tree of life soon..

    • YellowRoseTx51

      It gets better. About 3 years ago now, they passed a by-law stating the Banks didn’t have to repay those trillions. You see, the little know Commerce Secret that has gotten all the Commerce Secretaries killed (like the last one in Houston) is that the Banks ‘profit’ is a DEBT TO YOU. They were allowed to altered the term ‘creditor’ to ‘debtor’ and they were allowed the fruad label of “Loan”, implying and actually stating that the Bank loaned them money. The Comptroller of Currency’s 2005 report stated clearly, the banks lend no bank money and lost no bank money, for mortgages or credit cards. They are TRUSTEES under CFR 12 through 15, of the Security of the PERSON, which is the bond in your name. ALL INSTRUMENTS traced thru FedWire and Bloomberg, show the money is disgorged from the individuals own account and in their own name, within 4 days of signing for the ‘loan’. Commerce law states they had to repay you or allow you to accept Rothschilds Bills of Exchange Act (‘Bills’ like electric, etc) for Value (UCC 3-409). When you make a deposit, that is the Bank borrowing your LABOR, and fruits of your Labor(wage). This is vetted by the IRS and UCC Contract trust. The Bonds are held by the Vatican who made itself the Securities Exchange Executor (HOLY SEE) And what they have done is kill anyone who attempted to stop the take over, and this is why justice is completely absent. The Vatican was caught red handed with that ‘leak’ and not only all the ‘justices’, but the entire families down to the kids like Chelsea, of Bush, Clinton and Obama, the Secretaries and DoD personal, all the Bloodline Families like Rothschild, Sach/Gad family, Warburg, Deutsche bank/Bush, Kissinger, were taking any amount they wanted, while not allowing the owner whose name is on the bond the right to discharge their ‘alleged debt’ (UCC 3-603) under a current statute HJR 192. This is how they strip nations and forced economies to collapse, and this was known as a crime called “Covet Means”. They owned the Money system, they owned the Legislated bodies, and they owned the Merchants/Corporations. Covet means is when they alter the by-laws, alter the money, and alter the merchant pricing and wages, to deliberately set up a system designed to place the individual in default. While refusing to show the debt or account for it. Sound familiar? It is the reason we put the Bill of Rights in, and the reason we forced the Open Records laws. Covet Means was defined as “The Known Method of Warfare of the Covens of Azazel against the Society of Man, for the premeditated intent to commit mass murder of the Society”. The incorporated COVENS of AZAZEL (hebrew Coven name of Alexander Helios) are the “PAPAL, ROYAL, & FEDERAL”(Covens of (babylon) Selene, whose saxon name is Elizabeth) They were listed as against us in a world war we LOST, in the 1917 Geneva Convention when the Papal placed Corporations over all the governing bodies world wide. They created the corporations with Latin Law; the corporations were established as the entrainment of Service to Self for the followers of SET(An/Solomon). They allowed for the Highest service to self, by placing money concerns over life concerns. The Highest service to self is murder of self or other. These were the “Merchants and the Moneylenders at the temple” in Babylon.
      What they have done is erase our history. Now they are doing this so openly few who read about the school books ‘tea party’ alterations can doubt, that this is been going on for all these years. I used to have fights about Selene’s many names, until the Elizabeth 1 painting started bleeding through. Elizabeth 1 and Mad King George, were the “Incestuous Twins”. They were given names in every language and every land, by decree of “Divine Right” as granted by god El(oheim) “with whom man is at war with in the war in heaven”. The El are also called the ‘illu/illi and illumi’, they enter on the 33rd degree line and were called “Lilith’s (Selene) Shining Ones”. The El are a parasitic organizm that takes a host body…as propagandized in the new movie “Host”. Archons were another known parasitic entity – Archang-el.

      They have collapsed China’s bank with the help of their family member the Li family. The treaty was that the reigns of power be turned over (in the family of SET) to the Chinese branch. QE is on the front of the new chinese gold coin, and on the back is the Leviathan class serpent of the Abyss..SET. Rothschild owns that Chinese bank. It is a dry run for what they are going to do here, and why ‘dhs’ and others have been told to ‘gear up’. Rockefeller has been allowed to corner the precious metals markets. They WILL collapse the money system, which is the slave system of Babylon…and this is why all the ‘Merchants wept’.

      They are totally unaware of what is about to happen…because Elizabeth hasn’t told them. She just lost the War. We are about to go free. All these laws they are putting in place are going to be used against their own elites and wall street men, who are the ‘next’ slave population. Until Nibiru crosses them. Their lives will be misery.

      The biggest lie told, is that you are ‘on Earth’, and that this is our origin. When I was in school we had maps that named all the families of SET. “Ant-Arc-T.I.-C.A.” In Latin abbreviations and root word formation “T.I.” is Tiamatt, “C.A.” is Coven Azazel. They removed it. You are not on your original world, they stole all life here from EDEN. And that is why they “wept when they found out the choice they had made”; they see us leave. Not a rapture, not fake jesus or budha. One of the definitions altered was “The Creation” which was defined as “A Construct” and why people can “Wake to Shame” at what they had done here.

      • stompk

        You make some interesting points.

        I must say, Jesus whipped the money changers for a reason. It was meant as a message for our times..People are now starting to understand the importance of this seemingly unimportant act.

        Earth was created by God for Mankind. It is unique in the universe. The egg in the womb..
        Everything on Earth is for mankinds consumption, we just need to use things more wisely stop building weapons of war would be a good start..

        Jesus exists, and is on earth right now, in human form. He is the last apparition of Jesus, considered the Omega, and will soon be revealed to all, so that no one can deny the existence of God, although there will still be people who harden their hearts..

      • phoenix rising

        You did confirm some of the things that I have been finding to be true.
        Thanks!

      • ThenAgain

        Actually most banks put that to action last August when they made citizens/customers investors rather than depositors in US banks. This is their setup for ripping us off in their coming plans. On the bigger picture the zio/jews took over the vatican for many reasons just as they’ve taken over everything else since biblical times as stompk alludes to. Perhaps there will be interventions but that’s not healthy for people to be depending on. Too many people are themselves guilty of ignorance and arrogance, which has allowed all this to happen.
        It’s time people got informed and stopped stupidly contributing to and supporting the corporations and the zio/jews themselves. The zio/jews are the ultimate parasite and until people take responsibility for their own ignorance they do not deserve saving. People, do not think you can just go along and not change your buying habits and things will get better because they won’t. Get informed and stop buying from big corporations. Stop buying gmos, buy organic, grow your own. Stop borrowing from their banks. You only help their scam. Good page to viist http://chechar.wordpress.com/2012/12/30/seeing-the-forest/
        On another separate point to article, the accounting numbers we are given by the states are bogus. See CAFR pages at realitybloger.wordpress.com (only one g in bloger).

      • Anonamoos in the hoose

        Where could I find some sources for this info? A quick search brings up none of this.

    • barry oldwater

      Why does the article not point out which cities cant raise revenues? Cities that cant raise revenue always have at their disposal tax payers that own homes inside city limits and nothing can stop them from either raising home values or the percentage at which homeowners pay on the value of the home, its like having a gun to the head of the homeowner. Homeowners are powerless to do anything but elect a different governing body but even that is ususally thwarted by people who get free handouts and privellages of being poor since renters out number homeowners.

      • stompk

        Because no amount of real assets can be raised to cover the phony money created through derivatives…

        This is a corporate takeover, done from outside our country, through offshore accounting..the idea is to steal all the assets of Americans (land, resources, labor) funnel it through offshore banks owned by the Commonwealth (London Interbank, and the Crown) and the British empire is intended to be the head of the beast, controlling all wealth through electronic means that are kept in a giant computer called the CUBE located on the Isle Of Man…

        That gets more into the esoteric reality of things, but I tried to keep it simple so the average reader could understand the importance of the bond issue, but in actuality things are more spiritual and the goal is the enslavement of mankind, which is abhorent to God…

        • dj

          What I get from “the bond issue” you speak of is what I term the exemption which is attached to all people with a birth certificate. What this exemption really is-is an account with millions in it which is owned by you! They access this “exemption” and steal your money all of the time for things such as court procedings and other things. It’s the same thing in your 1040 when they so graciously let you claim back some of your earned wealth when you pay your taxes. You can use this exemption to escape sanctions imposed by judges for breaking some statute of thiers if you know how to do it.

    • Factory Farms FEAR the MooCow

      December 21, 2012

    • Factory Farms FEAR the MooCow

      “yield” is how much you get back from your initial investment you put in.

      Mooo……

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