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Foreclosing to Forgiving

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To: ALL homeowners: A petition calling for a 10-year moratorium on foreclosures.

Thank you for reading this.

My name is David Snieckus. I have petitioned for a Massachusetts House Bill 938 on February 26, 2014: A call for a 10-year moratorium on foreclosures. I am a Macrobiotic Counselor living in Newton, MA, with my life partner Margaret and our 11-year-old daughter Abigail. I am a Vietnam Veteran and a former employee of NSA. I co-founded the Massachusetts Foreclosure Defense League that meets every month. I am an advocate for Public Banking, and I'm a member of Credit to the People, who are educating the public on money and credit.

In my humble opinion, we need a 10-year moratorium on foreclosures to clean house in the banking and mortgage industry once and for all! We need a "time out" to prevent another devastating foreclosure in Massachusetts. Foreclosures are happening more because of a mathematical phenomenon, not necessarily because people can't pay!

In our current debt-based, usurious, and unsustainable monetary system, banks only issue the principal of a so-called loan and not the interest, so, in the aggregate, it is mathematically impossible to pay back principal and interest resulting in the inevitable foreclosures and bankruptcies.   All the interest owed has to come from new principal someone else has borrowed and that is why the national debt just keeps rising exponentially.

(Here I DEMONSTRATED USURY by showing how a $100 Bond from the governing or sovereign body goes to the Federal Reserve, a private bank, and charges interest.  I then had 100 $1.00 bills and "lent" out 4 $25.00 loans.....then I said, "I'm in business to make money....I'll charge 10%, just to make the math easy"......then I said..." After a year I want $110.00 back....where does the $10.00 come from".....

In addition, the interest or usury is automatically transferring the wealth from the 99% who pay more interest than they receive, to the 1% who receive more interest than they pay .

Do you see how this might NECESSITATE PERIODIC JUBILEES?

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Furthermore, bankers, lawyers, appraisers, judges, legislators, lobbyists, brokers, and investors have not been honest in their dealings with the public at large, right from the onset, causing massive and devastating foreclosures in Massachusetts.

THAT STATEMENT MAY SOUND OUTRAGEOUS, but it is based on the following understanding and research regarding the money deception of our banking system and mortgage process, which most bankers do not even understand:

Banks don't lend money!


No money is actually loaned by banks. Instead, banks monetize, through an accounting entry, homeowners' credit, which is their promise to pay the bank money based on real value.   The homeowners are expected to sign at the closing an adhesion contract obligating them to turn this credit into money based on real value plus pay interest to the banks. This is usurious, outright exploitive, and has led to our current foreclosures and austerity problems!

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Homeowners are paying a debt they do not owe.

Once the mortgage note is securitized, bought by an investor, or assigned, the obligation of the original borrower of the original mortgage note is cancelled, but the homeowner is NOT notified that their debt was discharged!

Homeowners are paying a debt they should not owe.

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Foreclosures to Forgiving

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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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