1. Promissory Note signed by you.

Your signature under the words “promise to pay” allows a single piece of paper to generate three to four times the face value of the note ; not for you, of course, but not even necessarily for the entity that called itself your “lender” in the first place. At any rate, no “lender” ever risked or spent its own money in the course of this “loan.”

  1. Note is endorsed to a bank (or to a similar financial entity).

Endorsed note becomes a “negotiable instrument,” that is, a check from you to the bank which can be signed over to other parties multiple times, indebting you to parties unknown to you, without your explicit consent.

  1. Note is deposited.

Bank deposits note in an account because the note is now equivalent to a check from you. To the bank it is free money.

  1. Note becomes “Funding” check.

Your deposited, endorsed note/check is simply passed on to a seller as a “funding Check,” thereby balancing the bank’s books. There was no loan; the bank is not out any money.

  1. Note is sold to investors on “Secondary Market.”

Note sold for face value and then some, then “pooled” with similar loans into a trust out of which certificates (that is mortgage backed securities) are sold to investors. This step is the entire point of the whole “promise to pay” dance. Profit is created simply by your signature, and all risks are ultimately taken by everyone but the “lenders.”

  1. You pay monthly installments for thirty years.

You slave away to create insane profits for the bank or the investors who own your note, none of whom loaned you a dime. In fact, it is you who made a loan to them while they told you the exact opposite!

  1. That how your signature cleans you out. The banks rake in the money/profit.

I didn’t know all that. It strikes me as kind of screwed up. This is how the system works, so what are you going to do?

     8.   Welcome to post 1933 America.  

No citizen owns anything in the UNITED STATES, the government owns it all. Everything is now by contract. There is no law. If you join an association you must follow the association rules. You may use the government’s property as long as you pay the rent (property tax). You can contract the use of it if you wish, but a default in that contract will transfer the use right to someone else. The use of the property is assigned to you as long as you don’t contract its use subject to loss. The government enforces its statues and policies even when immoral or not lawful. One can be imprisoned (or lose the use of all government property) just by spitting on the sidewalk against a statue or policy (no injured party).

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