To fund a new program such as President Obama’s promised “homeowner mortgage foreclosure rescue plan” the federal government must have you pay for it—
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Overt Confiscation— Open confiscation would not be popular among law abiding, hard working citizens. So this method of taking property is sparingly used, although it has been used in history. There are laws authorizing condemnation (but this “eminent domain” usually requires “just compensation” after “due process”), and laws authorizing civil forfeiture (as where there are violations of “civil laws”) and seizure (for non-payment of taxes), and confiscation claimed under “war powers.” But these don’t endear politicians to the citizens.
Subtle Confiscation— Another federal government method accomplishes confiscation more quietly. It is the printing of fiat money (which is discussed in another posting). The effect is a redistribution of your equity to another person. In fact, if you have been responsibly paying your mortgage over the years, equity in your real estate has already been taken during the last year. Please follow—
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(Continue to next posting on this subject, Part 3 of 4).
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