BANKSTERS REFUSING TO INSURE
Well the latest chapter in corporate greedsterism - if I may be permitted to coin that word - is being written as we speak. This latest example of the inability of the "corporate person" to exercise any sort of normal humanity speaks for itself:
Florida Insurers Cancel Homeowners Policies
One can easily compile justifications for this policy, but the bottom line of it all is that while certain corporations consider themselves to be in the demigod category of "too big to fail" their attitude to the very people that keep them in business is "too small for us to care." But there are more important considerations: if the big insurers are abandoning insurance of homeowners because of their exposure to a "weather danger zone," then by the same logic, where does it stop? Will they cease insuring homes in tornado alley for the same reason? Will flood insurance no longer be sold for people living and farming in flood plains - some of the richest agricultural land available? Will people in earthquake zones no longer be able to get insurance?
The bottom line here is really that the reasoning is entirely specious unless one wants to entertain wild scenarios, which I will gladly do here. Why establish this precedent at all unless one wanted to expand the role of government into private life via making government the instrumentality of home insurance. Once this is done, the government can then regulate what takes place in that home directly.
There may be something else at work here as well, namely, the agenda of bankrupting an already bankrupt economy, and simply seizing property outright after a disaster. After all, these are banksters we're talking about, and their playbook hasn't changed in millennia. Is all of this pure speculation? Of course it is, and nothing more. But one thing should be noted as a certainty: if the "logic" these companies are applying in Florida continues to hold and be applied consistently - if in other words it is reflective of a hidden agenda - then we can expect to see similar tactics being followed in the future with respect to home and business owners in tornado alley. Funny, too, isn't it, that we're seeing such horrendous tornado outbreaks all over the place? Can you say "weather derivatives?"
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Also, remember that by making property uninsurable it will drop in value. So if have not yet seen a steep fall in Floridian property prices we soon will. If they buyers then—at some future date and for reasons unknown, say through government intervention—were to be able to secure insurance the prices would rise again.
This would not be the first time that the US financial industry used its power to secure large property holdings for cents in the dollar.
A kind of similar thing in a way happened quite recently here in New Zealand. We had a couple of big earthquakes here in Christchurch (2nd biggest city in NZ), and it turns out that one of the biggest insurers here in Christchurch hadn’t insured itself enough. In other words it didn’t have enough money to cover the insurance it was supposed to pay out to people who had insured with them. Which is kind of something that you would expect a major insurer (it was AMI Insurance) to do.
So of course … the government steps in and gives it 500 million NZ dollars to cover the short fall. And this is of course during a time where the government is cutting here there and everywhere. Hmmm … so the insurer gets away with something that may have been dodgy in the first place, and life goes on as normal …
Interesting. NZ is beiing subjected to a “transfer of wealth” from the general populace to the elities. By doing it this way, they avoid riots in the streets. But the end result is the same.
This is what is the simple reality is in all these “bailouts” of financial institutions we have witnessed over the past few years. The super rich elites rip off the common folks of a life time of toil and savings, and no one is the wiser!
The writing is on the wall. Your savings and investments are about to be rendered worthless. TPTB have stacked the deck and they fully intend to “get it all.”
George Carlin had it all figured out, folks…check out what he said about “The Owners of this Country” (adult content):
http://www.youtube.com/watch?v=i5dBZDSSky0
Hold lightly to the wealth of this world.
One of the banksters coined a phrase in an episode of Conspiracy Theory with Jesse Ventura stating when Jesse asked how they can live with themselves for ripping us off:
“It is up to you (The people) to make the laws to prevent us from doing this to you.”
He sat there smugly with a smirk on his face knowing full well we are all helpless but this was their solution. My face went red with anger as this truly drove home the reality of the situation. (This was later in the show near the end).
http://www.youtube.com/watch?v=i4thA0V5QK8
The only way we will be rid of them is when we haul them out in the streets and string them up ourselves.
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I wonder if the FDIC and other consumer protections will soon follow?
After passing this along to others, I received this comment that might be of interest for suggesting private alternatives to corporate insurance companies.
(And hurricane season is coming into bloom . . . this is where people in those threatened areas could create their own indemnification program and leave the insurance companies out of the loop. A little like neighbors coming to the aid of a framer whose barn burned down and voluntarily helped to rebuild the barn . . . and provided food and drink for the workers . . . the� Quakers and many other farming communities use to do this in the 19th and 20th century. Pitch in and save your neighbors . . . but then they had a work ethic and understood the need for survival of all . .
Actually several state or nation wide private indemnification “Associations” need to be established to replace these insurance pirates. The reason I say Association is for the purpose to stay wholly on the private side (just as the the BAR Association stays beyond the reach of the legislature . . . which is in fact their BAR buddy legislators.) and thereby, beyond the regulatory side of corporate government . . . Goes to freedom of association! The association would be self regulating and could invest premiums in other projects to build a financial infrastructure without government having its hand in the pie. The people who avail themselves of this remedy would receive premiums on their investment and indemnification when need. (Generally it could be an investment and insurance service association that provides an indemnity option or clause for its investors as a collateral service if opted for and completely avoid insurance companies). This concept would also become applicable to many other wholly private ventures outside of the global Robber Barons reach . . . however . . . we may need “Ninja” backup to deal with the determination of the predictable globalist establishment that would attempt to migrate or infiltrate into such associations and attempt to take over for the predictable global robber barons.)
So let’s see if I’ve got this right:
I buy a modest home in a ‘weather danger zone,’ happily financed by BANKSTERS INC..
Shortly thereafter, BANKSTERS INC’s good buddies INSURANCE INC cancels the homeowners insurance that was wrapped into BANKSTERS INC’s loan on said house.
Then, BANKSTERS INC and INSURANCE INC’s most excellent buddies WEATHER INC. sends some mischief my way, and said house instantly becomes unlivable; but I have no homeowners insurance now, so I have to move to a tent somewhere….
Meanwhile BANKSTERS INC still demands payments on the loan I signed, and sues me for whatever savings I have (conveniently held by BANKSTERS INC), while INSURANCE INC reports another profitable year,,,,
It’s just a win-win all around for these guys, isn’t it?
A couple of days ago a friend told me of a rumor that the President had been in Britain with the Queen recently to ‘make her’ sign off papers of the US as a corporation…in other words “we’ can go back to a non corporate state – maybe this Florida thing is more than just weather derivatives. Maybe those world alignments you’ve been talking about for the last week Dr. Farrell have an added meaning????
You know, I’m leaving for China in two weeks, with my Chinese wife and kids, for a month vacation, and if it wasn’t for the pollution, I’d never come back.
Let’s face it, this country is in the shitters and going downhill fast. Even our friends are giving us the finger these days.
Wait until the next recession, which is coming soon apparently, to see how much more it will smell.
What a shame.
Joseph, they already have. I remember an article about one insurance somewhere like Oklahoma, Arizona, or Texas cancelling earthquake insurance after a few small shakers hit the area. Sure, I’d offer insurance in areas never hit by EQs, floods, or tornadoes. Bookies and odds makers all. Insurance is the second largest racket after organized religion–or maybe they are actually the same!!
@Robert: absolutely they are one and the same! Ever noticed that Banking and Insurance always walk hand-in-hand. Both concepts thrive on forecasting the future. What were the Babylonian and Egyptian astrologers really doing? Controlling the supply of the king’s coin (which they minted) and providing forecasts of all manner of national events. Same-O, Same-O.
Greedsterism works. Some friends of mine have defined the word professional means not being human