Defaulting On Home Loans and the Banking Conspiracy

Originally posted by USXpat
reply to post by Ashaman Kyre

 

Actually, I think the banks had quite a lot to do with pressuring Congress to pass laws...

Sorry to but in.

The truth of the matter is that a lot of Congressional members are also members of the boards and shareholders of the banks. The banks do much more than pressure Congress, they are Congress.

reply to post by Ashaman Kyre


Thank you for adding your knowledge to this thread Kyre. Being a Realtor and appraiser, owning my own home, knowing that buyers (including builders) and sellers are what sets market values, there have been many instances where I have had to tell my buyer that they just cannot afford the home they want. I agree with everything you wrote.

Reply to ProtoplasmicTraveler

I watched that youtube video when it came out, read the letter sent to the government, and made my own inquiries. Pure bombast and speculation of what could be happening. But it isn't. All bailout banks are so severely monitored that they can hardly work as an effective bank anymore, and some have just collapsed and/or were bought up. I have spoken with more than 12 different bank representitives concerning an owners options (short sales, refinance, etc.) and I can tell you that foreclosures cost a LOT more than short selling (selling as a loss for the bank) or refinancing. It tkaes about a minimum of 6 monthsfor a Lis Pendens to go to forclosure, that is half a year of taxes already the bank has to pay for that property. And don't get me started on all the code compliance that has to be rechecked and cleared, PLUS many/most cities have a foreclosure/abandoned home fee the bank must pay. If the homeowner moved out during the lis pendens or before the foreclosure, they still have to pay these or send an attorney to mitigate the fine/lien (which accrues interest daily, around $50 a day in my area). The banks do not want to do any of this. not at all.

Ok gotta get back to my clients, CMAs, BPOs, crap, I'm late on one now.
Tempest

reply to post by Tempest333


YouTube Video?

The only thing I watch on YouTube are Led Zeppelin Videos and of course my own band too!

The truth is that yes, it's very easy to dismiss a massive conspiracy that would take thousands of man hours and dollars to fully research, but what in fact are you saying besides you dismissed a massive conspiracy out of hand because you didn't want to invest thousands of man hours and dollars into researching it.

The only person you would be really fooling doing that is yourself.

Originally posted by ProtoplasmicTraveler
reply to post by JonInMichigan

 

I would suggest this to you, no man is an island, and what you know is only as useful as your ability to put it to good use.

Humanity's failure to understand this is what is holding us back.

No one is alone and no one can survive alone.

reply to post by Tempest333

"All bailout banks are so severely monitored"....
Are you sure you are in the business you say you are in? If you are, you should know how ridiculous that assertion is.
Whom exactly are monitoring these banks?

As usual I read the whole thread before posting!

I am wholly in agreement that the entire system is corrupt at its core. I have to disagree with anyone who says it is a matter of personal choice or bad judgment. Not to imply that bad judgment isn't also a factor, but bad judgment within a fixed game is just that; a bad decision within a situation that one can not at all control or benefit from.
So yeah more need to become aware and take what measures they can to resist within a system that doesn't abide resistance.
Some of us here say things like divest completely and don't do business with the evil bankers!
But really, how can we?? Completely we cannot. There are western countries in the world who have mandated that in order to have your wages for your work paid. They have to be paid into an account registered under your legal registered name.
You can go and get rid of all your credit and debts and such, but if you want to buy food, gas, pay bills and such. You will have to have a bank account.
So while the romance of redeeming oneself is enticing, realize that being free or divested from the system that controls everything is also a complete life changing decision that should be considered very thoughtfully and with as much research and planning as possible.

In my opinion.

reply to post by dbloch7986


It has been said that in order for you to have a society food and shelter must be free this does not mean governments and corporations acting as providers. Man oh man you hit the nail on the head on just what kind of INSANITY we face just to live in a so-call modern civilization. Absolutely nothing civilized about it.

reply to post by Stewie


Good question. Who does own all the gold? I suppose we'll find out when its too late. I've heard speculation that the US no longer has gold reserves. Not sure how true that is.

Thanks for the articles. I'll be sure to review them when I have the chance.

Originally posted by Stewie
reply to post by Tempest333

 

"All bailout banks are so severely monitored"....
Are you sure you are in the business you say you are in? If you are, you should know how ridiculous that assertion is.
Whom exactly are monitoring these banks?

Thats the first time I've ever heard anyone say that.

Severely monitored for sure.

reply to post by rougeskut


You're right that divesting from the system is impossible if one has any hope of surviving. Our entire lives from birth are intertwined with this system in ways that nearly make I impossible. How would you even cash your paycheck without a bank involved in some way?

Thanks.

The banking industry is a scam in the highest order. Before there was a united states of america there were indigenous people. Their version of trade was simple, person A offered person B so many corn, shells, beads, gemstones, animal skins, colored rocks or whatever he or she had at their disposal. Person B could accept their offer or up the anty but as the OP said people dealt directly with each other. As for people blaming the consumers for the current situation is madness, as long as you have people who can sit at the top and determine what the people below will need to pay to function in this society you will have rampant greed (based on money and power). It's easy to blame the little guy because he or she want what should be free for them, to have shelter. You must look farther than them, who are those people running the government to allow housing costs to go through the roof and how are those people making millions of dollars for elected jobs that pay under a $100k annually, it's when you look at it that way you understand how and why things happened.

reply to post by Chai_An


On the contrary, civilization has taken a whole new meaning. We are too civilized. Civilization now involves submitting to you masters so they can keep you in line. We are slowly being denied freedom of action and movement. Not through ouright prevention, but through the much more insidious means of denying us the resources needed to do it.

Thanks.

Originally posted by USXpat
reply to post by ProtoplasmicTraveler

 

So... if we declared war on the banks... and then spared their lives... everything they have would be subject to our mercy. I have absolutely nothing against this idea. Really, the Army and Marines should be fighting the bankers instead of Afghanistan. Of course, this is a dangerous idea... so it makes me wonder whether the bankers have really done a good risk assessment. Let's see what the elections bring. Not too hopeful, but the tide seems to be shifting a bit.

Sadly the war in Afghanistan and Iraq is/was being fought for the bankers.

Former Marine Core Major General Smedgley Darlington Butler, the second highest ranking Marine in the Core in the early 1900's wrote a book titled War is a Racket, in which he bitterly complained that the Marines were constantly being used simply to acquire resources for American Corporations and Banks and to guard them.

Later Butler became famous as the key figure in the White House Coup Plot of the early 1930's where the Banksters and Industrialists are alleged to have attempted to recruit Butler and the protesting Bonus Army ( World War I Veterans protesting that they had never been paid their promised bonuses 10 years later) in a coup against the Roosevelt Whitehouse using arms supplied by the Remmington Armaments Factory.

Butler had a change of heart and alerted Roosevelt and subsequent Congressional Hearings led to a smear campaign against Butler by the major newspapers of the day.

Undeterred Butler spent the remainder of his life, traveling from coast to coast getting small newspapers to tell his story and spoke to any audience that would listen to him to rehabilitate his shattered reputation.

Roosevelt himself called his family to extend his condolences when he passed away in the early 1940's.

The war in Afghanistan and Iraq is being fought on behalf of the oil companies and the banks. The U.S. Military has more or less functioned as a mercenary army for the Bankers since the conclusion of the Civil War.

While it's sold to the American Public that America has an obligation and a moral authority to spread 'democracy' through military force, the truth is we are the bankers muscle and enforcers.

Thanks for posting.

reply to post by Tempest333


Funny when the auto industry petitioned Congress for bailout money they faced accounting stipulations but at the same time Congress just gave the money to the banks with no stipulations whatsoever, how odd. I too work in the financial industry and the larger the bank the least regulated so I can't agree with you on that statement.

Originally posted by dbloch7986
reply to post by Chai_An

 

On the contrary, civilization has taken a whole new meaning. We are too civilized. Civilization now involves submitting to you masters so they can keep you in line. We are slowly being denied freedom of action and movement. Not through ouright prevention, but through the much more insidious means of denying us the resources needed to do it.

Thanks.

I agree!!

reply to post by dbloch7986

Especially check out the Reality Sandwich two-part article. I hope Proto does too. The monetary system proposed is brilliant, I think.
Great website too.

One of the groups of people that we will see and may have already seen visit this thread are people that are involved in the Real Estate scheme in some way. These people will scream and yell and flounder about trying, unsuccessfully yet convincingly to debunk this conspiracy.

These people may have intentionally or unintentionally been involved in the great mortgage scam. They may or may not have committed their own crimes in relation to this scam. The fact remains, wittingly or unwittingly, even all the way down to the lowest rung on the totem pole, they were all involved.

They will try and blame consumers for it because they will believe in the banker propaganda and they will not want to believe they are part of the scam. The fact is, its not their fault and it is not yours either. This conspiracy is about the oligarchy of the world, not these people.

Please keep that in mind.

Got a wake up call for the OP.

People don't actually buy their homes from the banks.

The banks just provide the financing using the home as collatterol.

While it may be the American Dream to own a home, not everyone should be taking a piece of that dream if they don't have the funds to buy in.

Originally posted by OutKast Searcher
That's right...don't use money...since you all think the evil banks create this money out of thin air. If you are doing any of the above...you are a huge hypocrite.

There is no "think" to it. This is absolutely, positively 100% true. Banks create money out of thin air. This economics education material from the Fed describes what is known as 'fractional reserve banking,' the type of banking present in most industrialized nations:

From page 57 of that PDF:

The fact that banks are required to keep on hand only a fraction of the funds deposited with
them is a function of the banking business. Banks bor row funds from their depositors (those
with savings) and in turn lend those funds to the banks’ borrowers (those in need of funds).
Banks make money by charging borrowers more for a loan (a higher percentage interest rate)
than is paid to depositors for use of their money. If banks did not lend out their available funds
after meeting their reserve requirements, depositors might have to pay banks to provide
safekeeping services for their money.

For the economy and banking system as a whole, the practice of keeping only a fraction of
deposits on hand has an important cumulative effect. Referred to as the fractional reserve
system, it permits the banking system to “create”money.

(Emphasis mine.)

So banks literally do create money out of thin air.

With regard to not using credit/loans: you don't really have a choice. There is no other option for most people. You either take on massive debt, or you simply don't get to buy a house, a new car, or anything else expensive.

And if you have the money, well, go ahead. Try to pay cash for a new car. Try to pay cash for a home. People literally don't want to deal with you, even if, by some miracle, you walk in with $200,000 in freshly-minted 20s. I'm not saying you won't be able to -- they have to take your money, because the government says so -- I'm saying that the salespeople will make you wait, try to aggravate you into leaving, try to talk you into buying something that costs more than the cash you have, etc. All the profit is in the loan making, not in selling the actual goods.

reply to post by babybunnies


You are wrong, when a bank takes a home due to foreclosure they then own the property and can sell it directly to the public or through a Realtor.