JP Morgan is Foreclosing on the US Treasury

•JP Morgan is Foreclosing on the US Treasury - 08/26/2011 - Yves Smith
Friday, August 26, 2011
JP Morgan is Foreclosing on the US Treasury

I am not making this up. Hat tip reader Deontos.

Here is the high level story: JP Morgan Chase and Northwest Trust foreclosed on a property in Hillsboro, Oregon. Treasury (more accurately, the IRS) has a tax lien on the property.

So this is pretty cheeky. The plaintiffs didn’t notify the IRS, who they claim was an existing junior lien holder, of the “sale”. Query what the IRS’s status is given the failure to give notice. So does JP Morgan want to own up to its error and pay the lien? Noooooo. THEY WANT TO FORECLOSE ON THE US GOVERNMENT. They are asking for the IRS to act in 30 days or go bye bye.

The compliant is silent on how the tax lien came about, but I thought as a general rule that tax liens were senior to mortgages. Reader input welcome.

http://www.nakedcapitalism.com/2011/...-treasury.html

gotta admit....it's funny as hell.....

Whats interesting,funny,whatever you call it,but if the banksters are able to legally inforce action over tax liens,this would tell us who's actually in charge here!What this would mean,even if not spelled out correctly is that in essence private property has been turned over as collateral to the international banksters and that the U.S.Gov.does NOT exist!..except as a corporate entity competing against other corporate entity!

great analysis Chevy....spot on!

lets see, I have been saying for years that the Us Govt, presidents and sunch are all just puppets the the power players, the elites, i;e the Buiderburg Group and all there lagges