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In 1787, colonial leaders assembled in Philadelphia to replace the ailing Articles of Confederation. As we saw earlier, both Thomas Jefferson and James Madison were unalterably opposed to a privately owned central bank. They had seen the problems caused by the Bank of England. They wanted nothing of it.

As Jefferson later put it:

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and the corporations which grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”

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By the end of the 1600s, England was in financial ruin. Fifty years of more or less continuous wars with France, and sometimes the Netherlands had exhausted her. Frantic government officials met with the Money Changers to beg for the loans necessary to pursue their political purposes. The price was high: a government-sanctioned, privately owned central bank, which could issue money—-created out of nothing-as loans.
The Bank of England was to be the modem world’s first privately owned, national central bank in a powerful country, though earlier deposit banks had existed in Venice from 1361, in Amsterdam from 1609 and in Sweden from 1661-where the first banknotes in Europe were issued that same year.

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Just who are these Money Changers to whom James Madison referred? The Bible tells us that, 2,000 years ago, Jesus Christ twice drove the Money Changers from the Temple in Jerusalem.

Apart from when the Temple Guards were forced to the ground in the Garden of Gethsemane, these were the only times Jesus used physical violence. What were Money Changers doing in the Temple?

When Jews came to Jerusalem to pay their Temple tax, they could only pay it with a special coin, the half-shekel. This was a half-ounce of pure silver, about the size of a quarter. It was the only coin at that time which was pure silver and of assured weight, without the image of a pagan Emperor.

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There was a time when to ask someone for whom he worked was considered somewhat insulting, as it implied he was an incompetent, incapable of gainful self-employment. But now, property ownership (net wealth) is not a general feature of our society, as it largely was until the Great Depression.

Rather, net debt and complete dependence on a precarious wage or salary at the will of others is the general condition. Since the exercise of freedom often includes using material objects such as books, food, clothing, shelter, arms, transport, etc., the choice and possession of which requires some wealth, we are forced to admit that the general condition of Americans is one of increasing dependence and limitations on freedom.

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As many as half of a Million of Home Owners are looking at a sad future. They have become victims of the failed prevention of Home Foreclosure. And now they will have to face the sad truth of having to go out there and look for a house or an apartment to rent.
This situation, foreclosure of real estate is not going to stop for quite some time. For some people so, this could be an interesting turnout of the global financial crisis. It exists, foreclosure investing! And it could be worth having a look at it. With the real estate market looping towards doom, the US congress has spread word to pass a foreclosure bailout plan, saving home owners in trouble.

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How to Write a Bad Credit Repair Letter
By Tom Tessin
Credit repair letters are usually addressed to credit reporting agencies, collectors, or creditors through bad credit holders. Credit experts say that it is tough to write a credit repair letter. [...]

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