For those of you looking for the weekly SBI give away, come back tomorrow… finishing up some business today
Okay, so we are back and you have had a chance to digest what I was serving up in yesterday’s Daily Dose. To understand this fraud that takes place in the real estate transactions we have to go quite a ways back in our history in order to understand how this fraud takes place. Keep in mind that just because the fraud takes place frequently it doesn’t make it any less of a fraud, and as we established yesterday, fraud is a crime.
It started in 1933...
We are 15 years away from the 100th anniversary since this fraud officially originated and it has been quite a feat by the government and the bankers to keep this situation under wraps and out of the view of the mainstream people of the United States.
Lawful money...
The official lawful money of the United States of America is gold and silver coin but in March of 1933 the United States of America went bankrupt and all the gold coins in circulation were called in by the government. The government literally confiscated all the property and gold in the USA to use as collateral and pay down some of the outstanding debt. Since that time we have only had debt, we live in a debt based economy and society and have been since 1933.
The government I O U...
The biggest fraud ever to be pulled has the full backing of the US government and that fraud is that we have “money”. When you reach in your wallet or purse and pull out a piece of government issued paper with some numbers on it we think of those as money. Yesterday you signed a promissory note at the house closing; now take a good look at that piece of paper you pulled out from your wallet or purse and read the top center portion of the thing, Federal Reserve Note.
Promissory note , Federal Reserve Note, … notice any similarity in the name? That’s right they are both “notes” and if you look at that Federal Reserve Note you will also see it has on it says “this note is legal tender for all debts public and private” . The fact is any note is legal tender for debts public or private.
When the government went bankrupt and confiscated everything they became obligated to give us a way to pay for things we needed. The government was to provide us a means to discharge our debts and notes were that means. The only problem was no one ever told the people how to do it, the only real glimpse of how it was to be done came about when people went to purchase property.
Is this smoke and mirrors...
So let’s talk for a minute about just what banks can and can’t do. According to the banking regulations it says that a bank can neither loan their credit or the credit of their depositors so just how in the hell did your bank or financial institution fund your loan? The answer is they didn’t, you funded it with your promissory note, and your home you purchased was paid in full when you signed the note. Your note created the funds for the transaction, the bank only shuffled some paper around to make it look they loaned you something.
Not only did they not tell you this, they got you to sign your deed over to them through a trust set up so that in the event you don’t pay them back, as you believe you are supposed to do, they can take your house and sell it for defaulting on the “loan”.
When you look at those papers at closing or if you have the papers from a past closing get them and look at your copy of the “deed” or “deed of trust” it will say something to the effect of “For the sum of Ten Dollars and other valuable consideration“ so and so sells, transfers, or conveys the property or something like that, I am on the road and I don’t have a copy to look at right this moment. The “other valuable consideration” is the promissory note, it is legal tender; however we should really look it as “money” since we look at Federal Reserve Notes as “money.”
Check's in the mail...
A few weeks after your closing you will get photo copies of all the papers you signed at the closing including a copy of the promissory note. Take a good look at the promissory note copy, see anything different about it?
The copy of the note I received that I signed at closing had a little something extra on it, it had an endorsement and it also had the wording, “Pay To the Order of without recourse” and then a blank line for a name to be filled in, this is known as a “blank endorsement”. This was endorsed just like a check because it is essentially that, it is a financial security instrument, just like a check.
Since the note was made out to the mortgage company they endorsed it and then turned around and made it into check that anyone could deposit since the “Pay to the order of” was left blank, they then sent it on to the bank that transferred the funds around.
How about some securities fraud charges...
There is a lot more that goes on with these “notes” like making copies of them and selling them as securities, I am sure you have heard of the mortgage backed securities and how that investment scheme ruined a lot of people and companies. I might also tell you that it is securities fraud if you copy a promissory note or any other financial instrument, yet the copy I received was a full size copy. I think the law says that it can’t be ¾ at the largest and must be labeled as a copy. You can bet your last dime that they are making full size copies and peddling them, you won’t lose that bet.
The bank gets paid at least twice...
They also sent a copy to the US Treasury department so that the government can send them the funds for it, remember I said that with the bankruptcy of 1933 the government was suppose to pay for your needs, well the banks know it and they get the treasury to send them the money as well. So if you do end up paying off your mortgage the bank will have been paid twice on that note, if not more than twice depending on how many times they copied it and sold it.
Read all about it...
That’s a real sweet deal for the banks, no wonder all the biggest and most expensive buildings in most towns are the bank buildings. In case you are wondering, every credit card account is set up the same way; you fund that with your signature as well. If you think I am lying get a copy of the Federal Reserve Bank employee training booklet titled “Modern Money Mechanics” published by the FRB of Chicago. You can find a copy on the internet for sure. It explains how money is created and you can read it for yourself, and learn exactly what double entry book keeping is.
Yea but, ....
I can hear those of you saying, “yea but, this is the way we have done it for so long so you have to be wrong Sultnpapper.” We have done it for way to long and the reason is we have been lied to our entire lives about money, finances and how things were supposed to work. I didn’t bankrupt the country and neither did you, but we are the ones who continue to have to pay for it by having to use debt based financial instruments. How many businesses that have filed for bankruptcy are allowed to continue operating in bankruptcy for over 85 years? Not a damn one and neither should the government be allowed too.
Now you know...
It is hard to hold people accountable if you don’t know what the hell is going on but now you know. The banks and government have conspired to keep us in this never ending debt spiral. Ask your senators and congressman just what the hell is going on, why do we have to continue like this? Fraud is crime, where is a cop when you need one? They need to be at every real estate closing making arrests, as soon as they finish arresting all the people in congress.
#wakeupamerica ...
The biggest fraud in the history of the world is our “money” and for it to continue just shows we need to #wakeupamerica
Until next time,
