Thursday, February 21, 2008

20 new messages in 14 topics - digest

misc.consumers.frugal-living
http://groups.google.com/group/misc.consumers.frugal-living?hl=en

misc.consumers.frugal-living@googlegroups.com

Today's topics:

* nike air max tn 90 shox r5 (www.cheapforwholesale.com) jordans+af1 shoes - 1
messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/8c804a7103d3032e?hl=en
* Quick basic advice on a dripping gas 40-gal hot-water heater - 4 messages, 4
authors
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/e565eaf98e0e70b6?hl=en
* Has college dropout done the impossible and created a perpetual motion
machine? - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/2ebb35c6e713de31?hl=en
* D&G Shoe, Adidas Shoes,BAPESTA SNEAKER shoes - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/5a05c937820d1dcb?hl=en
* Kooba,Loewe, Prada, Bottega Veneta handbags - 2 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/edf92478ebae31fc?hl=en
* Red Light Cameras- Guilty even when innocent - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/33ec8ce41d959a6e?hl=en
* Don't pay for ring tones etc. - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/b939ef0b086c065b?hl=en
* HD-TV converter box rip-off .... - 3 messages, 3 authors
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/4a9061c13abe5727?hl=en
* www.shopbb.com from china shop,nike shoes =30USD,bags = 27USD,NLF = 18USD,
Jeans = 27USD,Coat = 33USD,T-shirt = 15USD,MK4=60USD,Nokia N95=260USD - 1
messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/466d732704b65eed?hl=en
* cheapest &hottest DVD♥♥♥ www.china-dvd-cd.com - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/91b6f307abf60965?hl=en
* Q: Boiling Water-nuke or kettle? - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/d1b6d83a8392d12d?hl=en
* Question on potentially sediment-clogged dishwasher (how to diagnose &
repair)? - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/ab38615660f0cdb0?hl=en
* china wholesale cheap gucci prada nike shox oz nz tl air max 87 95 180 shoes
UGG boots - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/01017ad5d2c54c99?hl=en
* Can't pay? Just walk away. - 1 messages, 1 author
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/5a07413ffe1cd66b?hl=en

==============================================================================
TOPIC: nike air max tn 90 shox r5 (www.cheapforwholesale.com) jordans+af1
shoes
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/8c804a7103d3032e?hl=en
==============================================================================

== 1 of 1 ==
Date: Wed, Feb 20 2008 3:55 pm
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==============================================================================
TOPIC: Quick basic advice on a dripping gas 40-gal hot-water heater
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/e565eaf98e0e70b6?hl=en
==============================================================================

== 1 of 4 ==
Date: Wed, Feb 20 2008 4:12 pm
From: "James Sweet"


>soleanoid valves are easy to replace but expensive


In the unlikely event that it needs it, she can have the solenoid from my
junk dishwasher, I haven't had a chance to haul it to the dump yet. I see
free dishwashers on craigslist all the time, most are made by just a few
different brands and have many parts in common.


== 2 of 4 ==
Date: Wed, Feb 20 2008 4:19 pm
From: "Only Just"

"Donna Ohl, Grady Volunteer Coordinator" <donna.ohl@sbcglobal.net> wrote in
message news:6YXuj.5365$Mw.3754@nlpi068.nbdc.sbc.com...
> On Tue, 19 Feb 2008 17:31:43 -0600, jakdedert wrote:
>> This could turn into a whole new thread of major f*ckups that we learned
>> from....
>
> So far, on my side of the story, the water heater, full of tepid water,
> fell over, and the drain valve popped off spewing water about. I won't
> soon
> forget that! The garage still stinks of smelly carpet!
>
> The replacement of the water heater seems to have clogged all the faucets
> (easy to clean), showerheads (even easier to clean), tub (still clogged),
> and maybe even the dishwasher (work in progress).
>
> I'm not sure *where* the sand came from but it's clearly in all the
> faucets
> so I guess we kicked it loose somehow in the water heater removal and
> replacement process.
>
> Anyway, now it's time to "remove" the dishwasher, if I can.
> Does it look like it can be removed from these pictures taken today?
>
> Counter Top:
> http://www.flickr.com/photos/donnaohl/2279233722/in/set-72157603947125744/
>
> Latch:
> http://www.flickr.com/photos/donnaohl/2279869536/in/set-72157603947125744/
>
> Bottom Right:
> http://www.flickr.com/photos/donnaohl/2279869542/in/set-72157603947125744/
>
> Bottom Left:
> http://www.flickr.com/photos/donnaohl/2279869546/in/set-72157603947125744/
>
> Do you think this dishwasher can be removed without breaking the counter
> tile?
>
> Donna

You can only try to get it out but to avoid problems try clearing the hose
first then worry about pulling the dishwasher out from its location. It
always annoyed me when I had to remove them from the benches for servicing
when I did it for a living as kitchen builders seem to always work to very
close fitting making it nearly impossible to remove and that is when it is
all built as a full unit. They never allow for variations including putting
down a new floor or replacing the unit whereas the new unit is usually a
different size, cupboards can easily be built up or facias placed in but
removing tops and cupboards is more difficult and expensive. At least it
looks easier for you as you have a level tile floor which will be easy to
slide it on and not damaged as easily.
Good luck and waiting for the result.
Just.


== 3 of 4 ==
Date: Wed, Feb 20 2008 10:41 pm
From: "Michael A. Terrell"


"Donna Ohl, Grady Volunteer Coordinator" wrote:
>
> On Tue, 19 Feb 2008 17:31:43 -0600, jakdedert wrote:
> > This could turn into a whole new thread of major f*ckups that we learned
> > from....
>
> So far, on my side of the story, the water heater, full of tepid water,
> fell over, and the drain valve popped off spewing water about. I won't soon
> forget that! The garage still stinks of smelly carpet!
>
> The replacement of the water heater seems to have clogged all the faucets
> (easy to clean), showerheads (even easier to clean), tub (still clogged),
> and maybe even the dishwasher (work in progress).
>
> I'm not sure *where* the sand came from but it's clearly in all the faucets
> so I guess we kicked it loose somehow in the water heater removal and
> replacement process.
>
> Anyway, now it's time to "remove" the dishwasher, if I can.
> Does it look like it can be removed from these pictures taken today?
>
> Counter Top:
> http://www.flickr.com/photos/donnaohl/2279233722/in/set-72157603947125744/
>
> Latch:
> http://www.flickr.com/photos/donnaohl/2279869536/in/set-72157603947125744/
>
> Bottom Right:
> http://www.flickr.com/photos/donnaohl/2279869542/in/set-72157603947125744/
>
> Bottom Left:
> http://www.flickr.com/photos/donnaohl/2279869546/in/set-72157603947125744/
>
> Do you think this dishwasher can be removed without breaking the counter
> tile?
>
> Donna


I always open an outside faucet wide open for about five minutes any
time the water is turned off to blow as much crap out of the lines
before using anything inside the house.


--
Service to my country? Been there, Done that, and I've got my DD214 to
prove it.
Member of DAV #85.

Michael A. Terrell
Central Florida

== 4 of 4 ==
Date: Wed, Feb 20 2008 11:20 pm
From: "Donna Ohl, Grady Volunteer Coordinator"


On Thu, 21 Feb 2008 01:41:13 -0500, Michael A. Terrell wrote:
> I always open an outside faucet wide open for about five minutes any
> time the water is turned off to blow as much crap out of the lines
> before using anything inside the house.

Hi Michael,
This is a GREAT idea! (if it works).

What I don't get is WHY there was all that sandy stuff after I replaced my
wagter heater. If anything, there should be LESS sediment in the lines, not
more (way more).

Where did all that sandy sediment that clogged every single faucet in our
tiny house come from?

Is this common that sediment blocks everything in one quick pass after
replacing a water heater?

If so, why did NONE of the tutorials I read mention that simple hint you
just gave us?

Donna


==============================================================================
TOPIC: Has college dropout done the impossible and created a perpetual motion
machine?
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/2ebb35c6e713de31?hl=en
==============================================================================

== 1 of 1 ==
Date: Wed, Feb 20 2008 4:25 pm
From: gaby de wilde


On Feb 8, 1:47 am, BeaFor...@msn.com wrote:
> This is what passes for science in the media. No wonder we have so
> many believers of Bigfoot, Jeebus and the lottery.

Yes, sad isn't it?

It would be cool if they would describe the technical details up to a
point where the reader can be expected to build things.

Here, I'm a better inventor and better journalist.

http://forum.go-here.nl/viewtopic.php?p=750
View topic - Perpetual motion made simple.

How to escape the gist?

My previous creations all got subjected to the most hilarious lies.
This specific one still didn't get any kind of review.

funny.

It's just like peeps didn't want to know 400 years ago. I'm not going
to stfu like all the others. I'm going to make you my beloved but ever-
so ignorant fellow earthlings pay attention to the lesion. This can
power a house, propel cars, space ships etc etc live!

behind the link is an illustration but lets detail the innovation some
more...

By inducting flux into a ferromagnetic object it can be made to both
repel and attract at the same time. In contrast with either attraction
or repulsion the flux does~not have to overcome the other field. On
the contrary! If a ferromagnetic object(an iron strip) is placed
exactly on the domain wall(between a north an a south-pole) it wont
assume any polarity what so ever. What little attraction remains
cancels it-self out.

But if the object is subjected to additional flux of one- it will move
towards the magnet having the other polarity. But-jet-still! While it
moves in this direction the inducted flux is also causing repulsion
from the other side (other polarity).

The actuator magnet thus causes the ferromagnetic object to be both
forcefully pushed as well as pulled towards the corresponding side.

Moving the actuator magnet away again diminishes the sum of 3 magnets
back into a subtraction of 2. Flip it around and it performs the same
trick in the other direction.

I'm doing this with a super small super weak magnet and it forcefully
influences the setup from unimaginable distance. I've never seen this
magnet affect anything at 1/4 of the distance. But there is it..
wobbling a set of much bigger magnets up and down.

Build it yourself.

http://forum.go-here.nl/viewtopic.php?p=750
View topic - Perpetual motion made simple.

also make this.

http://forum.go-here.nl/viewtopic.php?p=524
flux switching pendulum

Tell me what you think.

Speak your minds please.

Even some creative lies on the topic would also be fantastic. I take
what I can get. At this stage I love any response.

How does it feel to own a hundred million dollar technology? Yeah, I
know I would have preferred a cash prize myself. Sorry about that. lol

:-)

http://magnetmotor.go-here.nl
http://blog.360.yahoo.com/factuurexpress


==============================================================================
TOPIC: D&G Shoe, Adidas Shoes,BAPESTA SNEAKER shoes
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/5a05c937820d1dcb?hl=en
==============================================================================

== 1 of 1 ==
Date: Wed, Feb 20 2008 4:35 pm
From: "www.bapedirect.com"


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==============================================================================
TOPIC: Kooba,Loewe, Prada, Bottega Veneta handbags
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/edf92478ebae31fc?hl=en
==============================================================================

== 1 of 2 ==
Date: Wed, Feb 20 2008 4:36 pm
From: "www.bapedirect.com"


webisite:http://www.bapedirect.com

E-mail: bapedirect01@hotmail.com
MSN: bapedirect01@hotmail.com

www.bapesky.com
is one of the leading companies of fashion supplies in China. We offer
top quality of Brands Jackets,T-shirts.handbags,wallets, sports shoes,
Jeans , watches,Ipod MP4 and Tiffany&Co. 100% silver jewelry and other
accessories .
Shoes Products: Nike Air Jordans1,2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12,
13, 14,15,16,1718,19, 20,21.5 shoes, Air force one, Adidas,Air max
360 ,2003,2004,2006, Shoes, Timberland, Prada, LV,Gucci,
Dior,D&G,Chloe,Evisue,Burberry,Ice cream.,Nike
sneakers,Trainers,Training shoes, Basketball shoes, baseball,football,
soccer shoes and Footwear.
Fashion Hoodies and Jackets Products: A Bathing Ape, Bapsta, BAPE
Hoodie, Jacket , Billionaire Boys Club ( BBC ) Ice Cream Hoodie and
Jacket and Edhardy,Evisu,True religion,artful dodger, red monkey,
stussy, Dino Green Global, CHL, Fckng awsm, number nine, sean john,
wazzup, g-star,Adidas, ,suits,Garments,10-deep,LRG,Apparels and
Blouses.
Jeans and Pants Products: Bape,BBC,Evisu ,Red Monkey, levies, Rock
Republic, Antik Denim, True Religion and Seven Trousers, Jeans,Jean
and Skirts and shorts jeans .
Shirts( t shirts) Products: Bape,BBC, Polo Lacoste golf ,
stripes,Evisu ,Dior,Gucci Tommy,edhardyguess, Marlboro Classic,D&G,
Number Nine, Superme, g-star, Clot, stussy, Armani, LRG, burberry,Sean
John, kaws, A&F, Juicy couture, d&G,evisu Tshirts.
Cap: Bape ,BBC, NEW ERA NY ,Red Monkey ,Caps,hats.
Handbags and wallets: Louis Vuitton(LV), Gucci, Dior,FENDI,Prada,
Hermes,Chloe,Bottega Veneta,Mulberry,Balenciaga,Kooba,Burberry,jimmy
choo, Versace, loewe,Thomaswylde,Miumiu, Marc Jacobs,D&G
Products Color Cover: Aqua, black, blue, fuchsia, gray, green, lime,
maroon, navy, olive, orange, purple, red, silver, teal, white, and
yellow, color .

== 2 of 2 ==
Date: Wed, Feb 20 2008 4:37 pm
From: "www.bapedirect.com"


webisite:http://www.bapedirect.com

E-mail: bapedirect01@hotmail.com
MSN: bapedirect01@hotmail.com

www.bapesky.com
is one of the leading companies of fashion supplies in China. We offer
top quality of Brands Jackets,T-shirts.handbags,wallets, sports shoes,
Jeans , watches,Ipod MP4 and Tiffany&Co. 100% silver jewelry and other
accessories .
Shoes Products: Nike Air Jordans1,2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12,
13, 14,15,16,1718,19, 20,21.5 shoes, Air force one, Adidas,Air max
360 ,2003,2004,2006, Shoes, Timberland, Prada, LV,Gucci,
Dior,D&G,Chloe,Evisue,Burberry,Ice cream.,Nike
sneakers,Trainers,Training shoes, Basketball shoes, baseball,football,
soccer shoes and Footwear.
Fashion Hoodies and Jackets Products: A Bathing Ape, Bapsta, BAPE
Hoodie, Jacket , Billionaire Boys Club ( BBC ) Ice Cream Hoodie and
Jacket and Edhardy,Evisu,True religion,artful dodger, red monkey,
stussy, Dino Green Global, CHL, Fckng awsm, number nine, sean john,
wazzup, g-star,Adidas, ,suits,Garments,10-deep,LRG,Apparels and
Blouses.
Jeans and Pants Products: Bape,BBC,Evisu ,Red Monkey, levies, Rock
Republic, Antik Denim, True Religion and Seven Trousers, Jeans,Jean
and Skirts and shorts jeans .
Shirts( t shirts) Products: Bape,BBC, Polo Lacoste golf ,
stripes,Evisu ,Dior,Gucci Tommy,edhardyguess, Marlboro Classic,D&G,
Number Nine, Superme, g-star, Clot, stussy, Armani, LRG, burberry,Sean
John, kaws, A&F, Juicy couture, d&G,evisu Tshirts.
Cap: Bape ,BBC, NEW ERA NY ,Red Monkey ,Caps,hats.
Handbags and wallets: Louis Vuitton(LV), Gucci, Dior,FENDI,Prada,
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Products Color Cover: Aqua, black, blue, fuchsia, gray, green, lime,
maroon, navy, olive, orange, purple, red, silver, teal, white, and
yellow, color .


==============================================================================
TOPIC: Red Light Cameras- Guilty even when innocent
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/33ec8ce41d959a6e?hl=en
==============================================================================

== 1 of 1 ==
Date: Wed, Feb 20 2008 4:38 pm
From: Marsha


Cheapo Groovo wrote:

> This guy proved his case, yet the state of Georgia doesn't care.
>
> http://www.youtube.com/watch?v=BmVSbfvaqVw

If these are similar to cameras in Ohio, you don't get points on your
license and it doesn't get reported to your insurance company. I think
everyone is responsible for his/her car and who they allow to drive it.
IMO, he should be going after the shop for letting someone there drive
it like a maniac.

Marsha/Ohio


==============================================================================
TOPIC: Don't pay for ring tones etc.
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/b939ef0b086c065b?hl=en
==============================================================================

== 1 of 1 ==
Date: Wed, Feb 20 2008 4:45 pm
From: "AllEmailDeletedImmediately"

"imascot" <imnot@mycomputer.now> wrote in message
news:47bcb35c$0$15163$607ed4bc@cv.net...
> "AllEmailDeletedImmediately" <derjda@hotmail.com> wrote in
> news:wn4uj.372$kI4.286@trnddc05:
>
>>
>> "Seerialmom" <seerialmom@yahoo.com> wrote in message
>> news:1189801334.810423.255950@50g2000hsm.googlegroups.com...
>>> On Sep 14, 7:56 am, George Grapman <sfgeo...@paccbell.net> wrote:
>>>> Of course you have to give them your phone number and the the
>>>> contact
>>>> info is limited to a form that you send to them.
>>>
>>> Even more likely that was a spam...since the newer phones let you
>>> transfer MP3's in to use as ring tones, anyway...no website or
>>> special software needed.
>>
>> not true. dh's phone is with verizon, and the only way to get a
>> ringtone is from verizon. he can upload mp3s all day, but can't use
>> them as a ringtone.
>>
>>
>
> This might work:
>
> http://forums.mobiledia.com/topic24998.html
>

thanks!!! we'll give it a try. dh really wants clown music for all mgmt
calls. :)
i found the music, but not as a ringtone.



==============================================================================
TOPIC: HD-TV converter box rip-off ....
http://groups.google.com/group/misc.consumers.frugal-living/browse_thread/thread/4a9061c13abe5727?hl=en
==============================================================================

== 1 of 3 ==
Date: Wed, Feb 20 2008 4:49 pm
From: Brian Elfert


Cindy Hamilton <angelicapaganelli@hotmail.com> writes:

>It would be technically feasible for your cable provide to convert the
>digital
>signal to analog prior to sending it down the cable to your house.
>However,
>they will probably see this as an opportunity to extract more money
>from
>their customers and require the purchase/rental of a converter.

Most cable companies have indicated they will continue to provide service
as they do today which means no new box required.

However, that does not means things will not change in the next year or
shortly after the conversion. Cable companies would like to go 100%
digital which requires a box of some sort, but the boxes they use are
nothing like the digital converters for broadcast TV.

== 2 of 3 ==
Date: Wed, Feb 20 2008 5:46 pm
From: George Grapman


Brian Elfert wrote:
> Cindy Hamilton <angelicapaganelli@hotmail.com> writes:
>
>> It would be technically feasible for your cable provide to convert the
>> digital
>> signal to analog prior to sending it down the cable to your house.
>> However,
>> they will probably see this as an opportunity to extract more money
>> from
>> their customers and require the purchase/rental of a converter.
>
> Most cable companies have indicated they will continue to provide service
> as they do today which means no new box required.
>
> However, that does not means things will not change in the next year or
> shortly after the conversion. Cable companies would like to go 100%
> digital which requires a box of some sort, but the boxes they use are
> nothing like the digital converters for broadcast TV.
\
They are required for a period of time (three years,I think) to do
this and then they are on their own.
Your best bet is getting a dish. The only reasons not to get one are
lack of a clear southern view or a rental unit where the owner will not
allow one on common areas like the roof.

== 3 of 3 ==
Date: Wed, Feb 20 2008 5:49 pm
From: Jeff


The Real Bev wrote:
> Jeff wrote:
>
>> A wrote:
>>>
>>> You know these set top boxes coming out soon so you can get HDTV to
>>> come through your old regular TV? (because analog transmission is
>>> ordered by the govt to stop next February?).
>>>
>>> So, I tried to use their website to "apply for" those coupons worth $40.
>>
>> Call it a blessing in disguise.
>>
>> Have you seen any of these converter boxes in the stores?
>
> Best Buy has its own Insignia brand boxes for either $50 or $60.

$60.

Kudos to Best Buy to be the first to sell such a device at a
reasonable price.

The last I looked, about a month ago, there were none.

Jeff
>
>> If I were you, I'd wait until late, remember the coupons expire in
>> 3 month. The variety and prices will both be much lower then.
>>
>> You have until next February, Also, go check out antennaweb.org to
>> see what kind of antenna you will need.
>


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TOPIC: Q: Boiling Water-nuke or kettle?
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==============================================================================

== 1 of 1 ==
Date: Wed, Feb 20 2008 5:39 pm
From: Jeff


The Real Bev wrote:
> Jeff wrote:
>
>> That sounds right to me. If you really want to frugal, get an
>> immersion heater as you would be close to 100%.
>
> I had one of those that plugged into the cigarette lighter hole. It
> corroded and died within weeks when I actually started using it on a
> trip. Moreover, the cord was so much heavier than the unit itself that
> the cord knocked the [filled] cup over unless you held onto it.

I think the AC powered are much better. Because the voltage is 10
times the current is 1/10. You need a heavy cord and good contacts to
conduct large amounts of current. Of course, that wouldn't help much on
the road!

I used an immersion heater when I lived in a dorm and only had trouble
when I didn't unplug it when it was not immersed. You only buy so many
new heaters before you remember that.

Frankly I don't thinks it's worth the fraction of a penny you would
save with an immersion heater. But it is frugal!

Jeff
>
>> A pound of water (16 oz) will take 140 BTUs to raise it's temp from
>> 60F to 200F, about .04 kWhr. Even at 25 cents/kWhr that is just 1 cent.
>


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TOPIC: Question on potentially sediment-clogged dishwasher (how to diagnose &
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== 1 of 1 ==
Date: Wed, Feb 20 2008 6:55 pm
From: "Edwin Pawlowski"

"Donna Ohl, Grady Volunteer Coordinator" <donna.ohl@sbcglobal.net> wrote in
message
>
> I'm sorry for being confused but can you point to what in this picture,
> showing the water at the most I can get out now (which is vastly less than
> the day before the water heater was replaced) I should open up to clean
> out
> the sediment?
> http://www.flickr.com/photos/donnaohl/2279157295/
>
> Am I looking in the wrong place?
>
> Donna
>
> PS I'm confused if I should post to this thread or to the long thread so
> I'll try to keep an eye on both!
>
>

The clog is probably inside the assembly. I can't see from the picture how
to disassemble it, but it can be. The handle probably has a set screw
holding it in place. There is probably something that has to be screwed off
to get tot he diverter inside. Thee appears to be a screw holding the bezel
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to say what tools are needed. Could be a snap ring or clip holding the guts
in place.



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== 1 of 1 ==
Date: Wed, Feb 20 2008 8:09 pm
From: PaPaPeng


On Wed, 13 Feb 2008 13:19:43 -0800 (PST), Foobar
<bamberbert@gmail.com> wrote:

>It's a very interesting article. Problematic, but interesting.
>
>
>So, who owns the property?

I don't have a simple answer. It bugged me long enough. Here's an
article(below) by William Engdahl with a section that will interest
you. Do read his four part series of articles in full.


Part I: Sub-Prime Mortgage Debt is but the Tip of the Iceberg
F William Engdahl, November 23, 2007

Part II: The Financial Foundations of the American Century
F William Engdahl, January 16, 2008

Part III: Greenspan's Grand Design
By F. William Engdahl, January 22, 2008

Part IV: Endgame: Unregulated Private Money Creation
by F. William Engdahl
Global Research, February 8, 2008

http://www.globalresearch.ca/index.php?context=va&aid=8032
===========================================

Part 1

by F. William Engdahl

Global Research, November 23, 2007

http://www.globalresearch.ca/index.php?context=va&aid=7413


Part 1: Deutsche Bank's painful lesson

Even experienced banker friends tell me that they think the worst of
the US banking troubles are over and that things are slowly getting
back to normal. What is lacking in their rosy optimism is the
realization of the scale of the ongoing deterioration in credit
markets globally, centered in the American asset-backed securities
market, and especially in the market for CDO's--Collateralized Debt
Obligations and CMO's--Collateralized Mortgage Obligations. By now
every serious reader has heard the term "It's a crisis in Sub-Prime US
home mortgage debt." What almost no one I know understands is that the
Sub-Prime problem is but the tip of a colossal iceberg that is in a
slow meltdown. I offer one recent example to illustrate my point that
the "Financial Tsunami" is only beginning.

Deutsche Bank got a hard shock a few days ago when a judge in the
state of Ohio in the USA made a ruling that the bank had no legal
right to foreclose on 14 homes whose owners had failed to keep current
in their monthly mortgage payments. Now this might sound like small
beer for Deutsche Bank, one of the world's largest banks with over
EURO 1.1 trillion (Billionen) in assets worldwide. As Hilmar Kopper used
to say, "peanuts." It's not at all peanuts, however, for the
Anglo-Saxon banking world and its European allies like Deutsche Bank,
BNP Paribas, Barclays Bank, HSBC or others. Why?

A US Federal Judge, C.A. Boyko in Federal District Court in Cleveland
Ohio ruled to dismiss a claim by Deutsche Bank National Trust Company.
DB's US subsidiary was seeking to take possession of 14 homes from
Cleveland residents living in them, in order to claim the assets.

Here comes the hair in the soup. The Judge asked DB to show documents
proving legal title to the 14 homes. DB could not. All DB attorneys
could show was a document showing only an "intent to convey the rights
in the mortgages." They could not produce the actual mortgage, the
heart of Western property rights since the Magna Charta of not longer.

Again why could Deutsche Bank not show the 14 mortgages on the 14
homes? Because they live in the exotic new world of "global
securitization", where banks like DB or Citigroup buy tens of
thousands of mortgages from small local lending banks, "bundle" them
into Jumbo new securities which then are rated by Moody's or Standard
& Poors or Fitch, and sell them as bonds to pension funds or other
banks or private investors who naively believed they were buying bonds
rated AAA, the highest, and never realized that their "bundle" of say
1,000 different home mortgages, contained maybe 20% or 200 mortgages
rated "sub-prime," i.e. of dubious credit quality.

Indeed the profits being earned in the past seven years by the world's
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to open the risk models used by the professionals who bundled the
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criminal conflict of interest in giving top debt ratings. That changed
abruptly last August and since then the major banks have issued one
after another report of disastrous "sub-prime" losses.

A new unexpected factor

(....more)

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