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Attorney Generals: Do NOT settle with Banks!

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Professor Fullwiler elaborates on this confusing point: "The bank does not "use" cash to make a loan. The loan creates a deposit. If cash is withdrawn by the borrower, this reduces its deposits. So, the cash is "used" in the process of settling a borrower's withdrawal. This is the key point that confuses so many--banks don't "use" cash or reserves to make loans since those are merely bookkeeping entries. They need cash or reserves to settle withdrawals that arise from creating the loan/deposit." 

Another aspect of the banks and lawyers conspiring in the initial contract is that the mortgage contract is unpayable - therefore void by law and equity. The Bank loans out, say, $100,000 and changes interest. AND then demands that the borrower pay back say $200,000 plus in the course of 20-30 years. How can every borrower pay this back? It is impossible.

In review, it is not wise for the Attorney Generals to settle with the banks over the foreclosure issue because the initial contract between the borrower and the lender is a void contract:

1.      There is no consideration on the banks part - the banks did not put up any money or value on their side of the contract!

2.      The banks and lawyers have tricked the borrower into believing they were lent money.

3.      The banks give borrowers loans that are impossible to be paid by all.

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Note: Banks can make plenty of money on the eventual transactions that the borrower makes with his or her "new" money to keep them in business.

Please encourage Attorney Generals Eric Holder, Martha Coakley, Eric Schneiderman and Kamala Harris and others not to join the settlement until the whole truth about money, banking and usury comes out! A good place to start is the 1991 version of Money, Banking and Usury, by Vic Lockman.

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100 word BIOGRAPHY for David Snieckus September, 2010 David Snieckus is a graduate of the world renowned Kushi Institute and has been practicing macrobiotics since 1977. Currently Mr. Snieckus is a Macrobiotic Counselor, Coach and Chef who (more...)

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Attorney Generals must not settle with banks until... by David Snieckus on Monday, Feb 6, 2012 at 10:09:56 AM
Any AG that signs is part of the Criminal RICO org... by iviewit on Monday, Feb 6, 2012 at 2:41:51 PM
iviewit:Maybe.... perhaps..if we ever ignorance of... by David Snieckus on Monday, Feb 6, 2012 at 7:24:52 PM
I suspect that the freedom of religion the early s... by Ray O. Sunshine on Monday, Feb 6, 2012 at 6:16:47 PM
Hoss:Can you provide any evidence to these allegat... by David Snieckus on Monday, Feb 6, 2012 at 7:26:28 PM
there isn't more evidence as you say, but yet, to ... by Ray O. Sunshine on Tuesday, Feb 7, 2012 at 8:39:15 AM
IN MY OPINION....Money has always seemed to contro... by David Snieckus on Tuesday, Feb 7, 2012 at 10:06:31 AM
In the treaty to end the revo War, sterling money.... by Ray O. Sunshine on Tuesday, Feb 7, 2012 at 6:30:33 PM
Seems I just read that after the revolutionary war... by David Snieckus on Tuesday, Feb 7, 2012 at 7:46:28 PM
"Banking was conceived in iniquity and was born in... by Derryl Hermanutz on Monday, Feb 6, 2012 at 7:45:39 PM
Derryl:thanks for the quote. Have your read the bo... by David Snieckus on Monday, Feb 6, 2012 at 9:29:14 PM
If anyone wants to hear of a recent case in Massac... by David Snieckus on Monday, Feb 6, 2012 at 9:32:16 PM
Anyone interested in learning how to save their ho... by David Snieckus on Tuesday, Feb 7, 2012 at 10:11:44 AM
Now the question is, what did they settle for? We ... by Mari Eliza on Thursday, Feb 9, 2012 at 3:34:44 AM
MariIMHO ( in my humble opinion) always follow the... by David Snieckus on Thursday, Feb 9, 2012 at 6:31:08 AM