Skip to comments.Why Is Obama Stockpiling Your Personal Financial Records?
Posted on 06/05/2014 4:35:58 PM PDT by jazusamo
Diversity Police: Republicans are scratching their heads over the Obama regime's privacy-invading "National Mortgage Database Project." What's it for? That's easy: redistribution of wealth.
In an unprecedented federal intrusion, the president's most radical financial regulators Mel Watt of the Federal Housing Finance Agency and Richard Cordray of the Consumer Financial Protection Bureau are creating a massive discrimination database on as many as 230 million Americans.
It will encompass a mortgage holder's entire credit history including credit scores and account balances and all credit lines, from credit cards to student and car loans.
"Why are we collecting this amount of data on this many individuals?" asked GOP Rep. Randy Neugebauer of the House banking panel.
The key data that the agencies plan to collect involve "household demographics" namely, "race/ethnicity." The database will be used to compare the credit outcomes of minority vs. white borrowers. Any statistical disparities will be used to make "disparate impact" bias cases against private creditors in a vast redistribution scheme.
The agencies even allude to this in their proposed rule, recently posted in the Federal Register and opened to public comment for just 30 days, half the normal time.
The FHFA and CFPB explain that they're going to use all these intimate details on families and their financial lives to "conduct research, performance modeling and examination monitoring." They're also going to share it with Attorney General Eric Holder, as well as state attorneys general and trial lawyers, to aid in their "investigations" of, and "litigation" against, the financial industry, which they've already shaken down for an estimated $100 billion since the mortgage crisis. Apparently, they're just getting started.
Then there are the privacy concerns.
(Excerpt) Read more at news.investors.com ...
Not everyone plays their silly reindeer games.
That will work until the other shoe drops. That being a currency change or an electronic currency system.
Exactly, and it's getting closer and closer.
They’re going to banish cash, get you out of your smoke car.
Then they’ll move everyone in the burbs and countryside into sky-high towers festooned with cameras, barking shepherds and scowling paradise cops.
For your own good , of course
It won't work. Still gotta have people to grow the food, mine the minerals, harvest the lumber, and work in the sewers.
That won't happen in towers.
Have faith in man's ability to screw over the king.
That’s how they will take a percentage of every dollar that changes hands.
17 trillion debt...17 trillion in IRAs. Any questions?
And politicians still need to be able to hide their cash and transactions. That’s the problem. Holder’s working on that though.
Like credits from Total Recall ?
Pure insanity. How is this legal?
So sorry. No mas.
They still have that pesky "gun" thingy to deal with first.
It’s definitely insane and I believe illegal. Sadly 0bama and thugs don’t care much about legality and it seems most of their supposed opposition doesn’t either.
Theyre going to banish cash.”
While that would certainly tend to cut down on robberies if everyone used a credit card or check, I can’t see them doing that as long as there is such an active drug trade.
Wonder what all the Mexicans would do if they couldn’t be paid cash for their yard work and housecleaning. Certainly put the kabash on the huge underground economy.
Have faith in the mule-headedness of less than perfect citizens. We'll find a way around the king.
No you missed the point, Grahamnasty and Cantor want the scraps of when they get dumped into Obummercare, foods stamps, etc etc as they are given legal status. They won’t need cash after loosing those substandard jobs (like our insurance policies ) they will get Cards with everything they need on our dime and the E-GOP will still think they can get them as a voter block...
I’m with you on this but I still haven’t found a way around not having a bank account or a credit card. I guess when the SHTF I’ll try harder.
Because all the busy bodies want to run my life...
That’s why I picked up smoking.
It causes busy bodies and statistics....
My friend lost his credit card and 3 hours he realized it and notified the card company. In that time of 3 hours, someone had charged $1500 on his credit card. So robbers will just take your credit cards. Since there is a limit on how much we are liable for fraudulent charges on credit cards, the loss will be passed on to all commerce in the form of higher commissions, higher prices and higher taxes etc.
BTTT on that statement.
Pizza Patron, a Dallas pizza chain, raised minor furor a few years ago by saying they’ll accept pesos along with dollars at their stores. You could very easily see the same thing happening across the country, with Mexican or Canadian currency becoming an acceptable alternative to the American dollar.
Because there isn't much fire in the belly for creative dissent in this crowd. Lots of folks rolling over and whining how all is lost, though.
That's what the outer districts are for.
They want to know what everybody's assets and investments are so they can use the asset forfeiture laws to seize them.
What do you think the NSA has been doing with all that data they have been collecting? They are documenting the federal crimes that people commit. There are so many federal laws now that the average person unknowingly commits three felonies a day (see Harvey A. Silverglate's book "Three Felonies a Day").
Ever downloaded a movie from the Internet? $250,000 fine and 5 years in prison.
One of these fine days we are going to wake up to discover that the feral government has seized the bank and investment accounts of half the population (the half that doesn't support Democrats) on the pretext of the long list of federal crimes the NSA has documented.
They don't have to prove anything. That's the beauty of asset forfeiture. All the government has to do is accuse somebody of something and take their stuff. Doesn't matter if any charges are ever filed. Once they seize it, you're never getting it back.
Ok. Then what?
You have nothing left to lose(if you are stupid enough to sit still for the shearing). What is your next move?
Play right into their hands so they have an excuse to roll out Ubama’s civilian Nazis.
You are correct — there will be an alternate currency. Not sure it will be pesos or Canadian dollars, or silver or 14K gold — or bitcoins.
I certainly hope the whiners of FR aren't reproducing. We need some folks with the ability to resist in our ranks.
The new One Hundred Dollar Bills are out...I got six of them today at the bank...all a first time distributed. Really different paper, design, and a purplish blue line near the middle...a strange small emblem that could be the tracking system.
Because the books and movies are extremely popular and speak to a new generation about the nature of government power. If you want to speak to a young person about politics, it is good to speak to them in a language they already know.
Hunger Games was written by a very liberal woman, but like a lot of arrows they shoot, it wildly misses, because it works much better as an anti-Progressive story than an anti-Conservative one. It is a story of a future Tea Party movement.
I have no time to waste on crap like that. The young people I deal with know that I will avoid or break stupid rules in a heartbeat, and are well aware that I see most government as no better than a tarted up shakedown/protection racket that must be subverted.
Yep. For one thing, there are many ways to avoid excessive personal spending. The main way is to learn and practice as many useful technologies as possible (one example: alternative home energy with stealth considerations for security). Those who don’t receive much income and don’t buy much are legally avoiding generating big revenues. All a little off of the posted topic, though.
As for the topic posted above this thread, maybe some folks in government are considering some kind of partial debt repudiation deal for those headed for foreclosures. That was one of the issues for many Icelanders.
It’s best, though, to avoid mortgages and other debts. One can learn to build, repair and do many other money-saving projects for oneself. As for frivolous regulations, there are many legal ways around those for people who study, think and work enough.
I remember when this happened. Some guy tried it in Houston and it lasted about 10 minutes before he stopped that nonsense. Can’t you just imagine some of these fast food cashiers trying to figure out the exchange and conversion rate? They can’t even do it with dollars for dollars with their electronic computer.
My grandson bought something at BestBuy in Kansas. Next day a female with numbers same as his card spent $5,000 on clothes at The Gap in Minnesota. I was notified by text message of charges to his account since they were over $10. Talked with the people at The Gap and then called the credit card company with the girls name and driver’s license number. They credited his account immediately but said they wouldn’t prosecute the thief because it cost them too much money to do so.
So took his credit card from him and got him a rechargeable card which I put only $50 on at a time. Pain for me but a lot less hassle than trying to resolve it after the fact. And he is not allowed to buy anything from Best Buy unless it’s with his own cash.
That is amazing that some girl can buy $5000 worth of clothes (which is a lot of items at the Gap) and pay without a credit card! Since your grandson had not lost his card, did the thief make a fake card?
did the thief make a fake card?”
Yes she did have a fake card. Same numbers, same expiration date, same security code. Identical to my grandson’s except that it bore her name. She was Asian. Whomever did it is quick and thorough. I spoke on the phone with the manager of the Gap and she said everything looked very real and authentic, and the charge went through without a hitch.
Had to come from BestBuy though because that was the only place he had used the card in months and I had problems with them before but in Houston.
Credit card company removed all of the charge immediately so it was obvious they’ve been through this issue a lot of times.
I had a friend who worked at a bank in college. He deliberately requested a stack of two dollar bills and then took everyone to a fast food place to order off the dollar menu. Utter confusion, with threats to arrest him for trying to use counterfeit money. None of the clerks or even the manager had seen a two dollar bill.
That type of confusion or the ability to pass fakes only goes up with other currencies.
They are going to redistribute your good credit score to someone “needy.”
Interesting experiment. I kept a two dollar bill for my grandson. Whenever he brings a new friend over he always wants to show it to them since most have never seen one. Also have some pesos and some paper money from South Korea and Japan sent to me a long time ago by a military friend who served there. Gives them an opportunity to view other currency and for us to talk about exchange rates and other country’s money. Most think money from other countries is fake when they first see it.