Finance and Banking - Printable Version
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Finance and Banking - wplaurence - 10-18-2010 07:20 AM
New Thread from the Promissory Note Stuff
indio Wrote:wplaurence Wrote:How hard is it to scan the Promissory Note with the "Pay to the order of" language on it and post it on the internet? I will gladly bow to factual evidence of the arguments presented.
i didn't hear the broadcast... patiently waiting.... I'll address the mythos of the the Original Promissory note funding the loan
First pay to the order...
You haven't been looking very hard. First of all you can go down to any court that does foreclosure open a file and view a copy of a note which MUST be in the filing. Then you can view one with your own eyes. There are also scans all over the internet even on Youtube.
Apparently someone over here just discovered this fact. Hopefully more people will too.
I will submit that the original verbiage does not have "pay to the order on" that comes by subsequent stamp. There is all set of legal issues that are good for the "borrower" and bad for the "lender" that I won't get into ATM.
I will unequivocally state, no one is getting a free house except the bank. The reason is this law
Public Law 106â122
To amend the Federal Reserve Act to broaden the range of discount window loans which may be used as collateral for Federal reserve notes.
All this proves is that the note was endorsed. I don't see any evidence that the loan was paid. I don't see the books for the Credits which were produced.
I know how it works. I am just looking for empirical evidence.
Re: Finance and Banking - indio - 10-18-2010 02:17 PM
wplaurence Wrote:New Thread from the Promissory Note Stuff
You can't have it. Discount window transactions are secret. The loan was never paid back because there was no loan in fact. The money "borrowed" didn't even exist.
There is no empirical evidence (there isn't even anecdotal evidence!!!!!) that there is some account that the "lent" money comes out of. What account was the money in before it went to the seller?
There is plenty of evidence of the mortgage notes themselves are used as collateral to print new money i.e. expand the money supply.
They don't even publish M3 data anymore which would be all the discount window transactions in aggregate. There is no way they are going to reveal an individual one.
Re: Finance and Banking - wplaurence - 10-21-2010 10:39 PM
I get the whole point about discount window transactions. I know they don't publish the M3 supply. Why would they? Nobody cared for years; why should anyone care now?
I'll never forget my first day of Principals of Finance class. The first line out of my Professors mouth was: There isn't enough currency to cover every dollar in all the checking accounts in the United States. That's just checking accounts. :eekeek: