Jim’s Daily Rant – The Post. Part II – School Boards Too.

Be sure to read Part I of this Rant first. Part I

In Part I discussed how the US Leadership got us into the Vietnam war and quickly realized we could never win it. But that leadership was too embarrassed to admit it, therefore killing about

3 Million people rather than suffer the embarrassment. Oops.

Today I posted Massive Property Tax Fraud Exposed - $5.1 Trillion Bond Scam Will Crash System. That excellent 50 minute video tells us that all School Boards violated the US and State Constitutions by levying taxes on properties. The US Constitution only allows taxes on income.

Therefore, the property taxes on real estate are illegal frauds on us. Not only that, it has blossomed into a $5 Trillion balloon that can never be repaid back – a Ponzi scheme. The School Boards and States know this. But don’t worry, it is hidden under a rug.

Most of that debt is placed on the banks under the Federal Reserve. The Fed requires the bonds as investments on the Banks books. Remember the Mortgage Backed Securities fiasco that broke the world’s economy in 2007 – 2008? Well, this is the same story except vastly bigger.

The county Property appraisers raised the property valuation each year so more taxes were raised just to pay off the interest on the years of fraud. The governments passed laws saying some operations had to invest in AAA rated bonds and made certain these bonds were rated AAA of course. You know the drill.

See: The Big Short

See also: Margin Call

Folks, there is too much of that fraud in the market economy to keep carrying it. Therefore it must collapse and wipe out all those fraudulent bonds for the ultimate holders of that debt – Banks, Pension and Private Hedge Funds.

Watch out for incoming! Just imagine, all this fraud because the people aware of it are too embarrassed to end it so now it has become a death blow to the entire planet. Like the song says, "There's nothing [left] to plunder."

See : Part III It's All Ponzi Schemes.