This Is Why The NAR Will Never Be Prosecuted For Facilitating Money Laundering

America’s ever vigilant law enforcers continue turning a blind eye to criminal activities of the global elite as congressional muppets are eager to look the other way.

Over the past month America’s ever vigilant law enforcers have taken to task not one but two foreign (domestic bank lobbies are sufficiently large to make Congress muppets perfectly eager to look the other way as noted previously) banks: HSBC and now Standard Chartered, for money laundering. Yet, when it comes to the true elephant in the room, which is not foreign and is fully domestic, they continue to ignore events such as this one just described by the Wall Street Journal: “A Florida home that originally listed for $60 million has sold for $47 million, a record for a single-family house in Miami-Dade County. The home, in Indian Creek Village, had been on the market since early 2011, when construction was still being completed. The asking price was reduced to $52 million this year.” And the punchline: “The identity of the buyer, a foreigner who purchased the home in the name of a U.S.-based limited-liability company, couldn’t be learned.” In other words a foreigner who may or may not have engaged in massive criminal activity and/or dealt with Iran, Afghanistan, or any other bogeyman du jour at some point in their past, and is using US real estate merely as a money-laundering front perhaps? Sadly, we will never know. Why? As explained before, it is all thanks to the National Association of Realtors – those wonderful people who bring you the existing home sales update every month (with a documented upward bias every single time) – which just so happens is the only organization that actively lobbied for and received an exemption from AML regulation compliance. In other words, unlike HSBC, the NAR is untouchable, even if it were to sell a triplex to Ahmedinejad on West 57th street.
If after skimming the above, readers are still confused what the reason is for the luxury segment of the US housing market continuing to rise in price even as all other segments of the quadruplicate US housing market as explained here languish, we suggest rereading it as many times as necessary.
But why does the NAR and the government ignore the fact that some of the biggest marginal buyers are precisely those peope who HSBC and Std Chartered are being punished for transacting with? Why because by laundering their blood money, they are allowing the Fed and Congress to say that “housing has bottomed” and the US economy is now improving.

Readers should now be quite clear why the various segments of the US regulatory and enforcement authority will perpetually turn a blind eye to the one true transgressor when it comes to encouraging money laundering on US soil – the NAR, and its massive lobby – and instead will scapegoat this bank in London, or that bank in Hong Kong.

At least until such time as no readily available scapegoats are available, and the cannibalization begins.

Categories: ECONOMY

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