eric pebble Report post Posted February 10, 2011 LIAR LOANS in action. Video. Says it all. SAME THING went on in the UK. [see below]. IT WAS - and still is - ENDEMIC. You can only "afford" property "prices" IF YOU LIE, because those "prices" have BEEN SET BY LIES TOLD by people over the last 15 years. THESE LIES HAVE SET THE "PRICES" in your town/village/hamlet/city. You can't escape them. WATCH THIS VIDEO -- and take special note of the last words at the end..... http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=3708 Quote Share this post Link to post Share on other sites
wallah Report post Posted February 10, 2011 Same in a land down-under: Detective faked loan papers to quit force The court heard he told prosecutors that low doc loans were ''virtually an invitation'' for false or embellished applications and were the ''norm'' in the industry at the time. Quote Share this post Link to post Share on other sites
Lord D'arcy Pew Report post Posted February 10, 2011 (edited) http://www.replaceyo...co.uk/docs.html Fake documents to create fake lifestyles in our fake economy. http://www.timesonline.co.uk/tol/money/property_and_mortgages/article2351316.ece Edited February 10, 2011 by Lord D'arcy Pew Quote Share this post Link to post Share on other sites
eric pebble Report post Posted February 10, 2011 (edited) ....///.... The first stage of the police investigation - establishing the lenders’ potential liability over defaults from fraudulent loans - is expected to be completed by the end of the year. http://www.timesonline.co.uk/tol/money/property_and_mortgages/article2351316.ece SO - That was back in August 2007: WHAT HAPPENED??? Edited February 10, 2011 by eric pebble Quote Share this post Link to post Share on other sites
jfk Report post Posted February 10, 2011 good vid OP Quote Share this post Link to post Share on other sites
Laughing Gnome Report post Posted February 16, 2011 (edited) whoops Edited February 16, 2011 by Laughing Gnome Quote Share this post Link to post Share on other sites
eric pebble Report post Posted February 16, 2011 good vid OP Send it to everyone you know! ... Quote Share this post Link to post Share on other sites
Tired of Waiting Report post Posted February 16, 2011 LIAR LOANS in action. Video. Says it all. SAME THING went on in the UK. [see below]. IT WAS - and still is - ENDEMIC. You can only "afford" property "prices" IF YOU LIE, because those "prices" have BEEN SET BY LIES TOLD by people over the last 15 years. THESE LIES HAVE SET THE "PRICES" in your town/village/hamlet/city. You can't escape them. WATCH THIS VIDEO -- and take special note of the last words at the end..... http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=3708 Very interesting video Eric. Thanks for posting it. But don't let the regulators off the hook, OK? It was mainly their fault. The fact that this company was a major donor for Bush's re-election campaign may explain it - partially though, as it doesn't explain Greenspan or Gordon Brown. Or does it? Quote Share this post Link to post Share on other sites
eric pebble Report post Posted February 17, 2011 Very interesting video Eric. Thanks for posting it. But don't let the regulators off the hook, OK? It was mainly their fault. The fact that this company was a major donor for Bush's re-election campaign may explain it - partially though, as it doesn't explain Greenspan or Gordon Brown. Or does it? Yup ToW == I agree with you. Quote Share this post Link to post Share on other sites
eric pebble Report post Posted March 1, 2011 good vid OP Well thanks v much! Quote Share this post Link to post Share on other sites
Injin Report post Posted March 1, 2011 I'm afraid it's the usual bilge "bad people lied on the forms to acquire money they had no right to" Which is pish. There was no money, the banks were lying at their end as well. Quote Share this post Link to post Share on other sites
eric pebble Report post Posted March 1, 2011 I'm afraid it's the usual bilge "bad people lied on the forms to acquire money they had no right to" Which is pish. There was no money, the banks were lying at their end as well. DOUBLE LIAR LOAN? Quote Share this post Link to post Share on other sites
Injin Report post Posted March 1, 2011 (edited) DOUBLE LIAR LOAN? of course. The banks wanted the signatures to go to the city and trade in the documents to get the money to provide the mortgage. They short sold the western hemisphere with no money down. Bank - nothing Customer - nothing Bank offers to lend money, offers form Customer lies about income, signs form Bank takes form, packages it into a bond Bank sells bond, often to someone else who had no money but was happy to sign paper. Banks provides mortgage/credit card withdrawl money/car loan/what the ****** ever. Add in fractional/zero reserve banking and there basically was no money circulating - which is why house prices went up and up but everything else didn't. NOTICE - THE BANK HAS NO MONEY NOR ANY WAY TO ACQUIRE SOME UNTIL THE FORM IS SIGNED. Edited March 1, 2011 by Injin Quote Share this post Link to post Share on other sites
eric pebble Report post Posted March 2, 2011 of course. The banks wanted the signatures to go to the city and trade in the documents to get the money to provide the mortgage. They short sold the western hemisphere with no money down. Bank - nothing Customer - nothing Bank offers to lend money, offers form Customer lies about income, signs form Bank takes form, packages it into a bond Bank sells bond, often to someone else who had no money but was happy to sign paper. Banks provides mortgage/credit card withdrawl money/car loan/what the ****** ever. Add in fractional/zero reserve banking and there basically was no money circulating - which is why house prices went up and up but everything else didn't. NOTICE - THE BANK HAS NO MONEY NOR ANY WAY TO ACQUIRE SOME UNTIL THE FORM IS SIGNED. We should just go back to gold coins then. Seriously. Quote Share this post Link to post Share on other sites
Injin Report post Posted March 2, 2011 We should just go back to gold coins then. Seriously. Can do this with gold coins just the same. I offer to lend you a gold coin. You agree and sign. I take your form and sell it/borrow against it to acquire the gold coin. The crucial thing is that you, mr Eric Pebble start asking if he guy had the coin at the start of the process, and if not just keep the gift gold coin you recieved amd let the liars go bankrupt. Quote Share this post Link to post Share on other sites
Bloo Loo Report post Posted March 2, 2011 Can do this with gold coins just the same. I offer to lend you a gold coin. You agree and sign. I take your form and sell it/borrow against it to acquire the gold coin. The crucial thing is that you, mr Eric Pebble start asking if he guy had the coin at the start of the process, and if not just keep the gift gold coin you recieved amd let the liars go bankrupt. MONEY, as a circulating piece of paper, is, by its very nature, borrowed. It is a receipt entitling you to a promise. It is not a lie as such, and certainly, if you dont receive a pile of promises after signing, then your signature is void. However, a banker can expect a pile of promises to be available at a price....its when this pile is not available that he is in trouble...liquidity issues they called it...Id call it insolvency issues as if you have to borrow to pay out, then really that is a ponzi scheme. This is the difference between a bank and a business. a business sells you something and you pay them...they use the money to pay someone else or keep in a pile. the bankers dont....they borrow just about every cent they use, money sitting in their office doesnt earn so they lend that out too. However, the shadow banking system you illustrate above IS a lie, but not for the reason you suggest...the lie is that the payment to the final mug who ponies up is going to earn interest, when, if you add up all the skims at each and every stage of the mortgage to CDO process, there isnt enough to pay everybody. Thats why bankers cant find the paperwork over in the US....they lost it....how convenient. Quote Share this post Link to post Share on other sites
Injin Report post Posted March 2, 2011 MONEY, as a circulating piece of paper, is, by its very nature, borrowed. It is a receipt entitling you to a promise. It is not a lie as such, and certainly, if you dont receive a pile of promises after signing, then your signature is void. However, a banker can expect a pile of promises to be available at a price....its when this pile is not available that he is in trouble...liquidity issues they called it...Id call it insolvency issues as if you have to borrow to pay out, then really that is a ponzi scheme. This is the difference between a bank and a business. a business sells you something and you pay them...they use the money to pay someone else or keep in a pile. the bankers dont....they borrow just about every cent they use, money sitting in their office doesnt earn so they lend that out too. However, the shadow banking system you illustrate above IS a lie, but not for the reason you suggest...the lie is that the payment to the final mug who ponies up is going to earn interest, when, if you add up all the skims at each and every stage of the mortgage to CDO process, there isnt enough to pay everybody. Thats why bankers cant find the paperwork over in the US....they lost it....how convenient. The main issue is that of the timing - the bankers have nothing to give you when they make the offer. Therefore you can never have a contract with them, they have no consideration. Quote Share this post Link to post Share on other sites
Bloo Loo Report post Posted March 2, 2011 The main issue is that of the timing - the bankers have nothing to give you when they make the offer. Therefore you can never have a contract with them, they have no consideration. they dont have to have anything....all they need provide me is a means of exchange, the middleman, if you like. Quote Share this post Link to post Share on other sites
Injin Report post Posted March 2, 2011 they dont have to have anything....all they need provide me is a means of exchange, the middleman, if you like. They aren't providing it, you are. Quote Share this post Link to post Share on other sites
Bloo Loo Report post Posted March 2, 2011 (edited) They aren't providing it, you are. what they are providing is confidence. without that, their "Product" needs a lorry to move in exchange for a loaf of bread. As you say, its a confidence trick. Murray M Rothbard lays this trick out very well in his book..the Mystery of Banking. edit http://mises.org/books/mysteryofbanking.pdf Edited March 2, 2011 by Bloo Loo Quote Share this post Link to post Share on other sites
Injin Report post Posted March 2, 2011 what they are providing is confidence. without that, their "Product" needs a lorry to move in exchange for a loaf of bread. As you say, its a confidence trick. Murray M Rothbard lays this trick out very well in his book..the Mystery of Banking. They aren't providing confidence either - the state does that for them. You signed to borrow, they sold your signature to get the money. Short selling without disclosure. the only thing that can stop this is knowledgable customers asking the questions and refusing to pay if found. Quote Share this post Link to post Share on other sites
Bloo Loo Report post Posted March 2, 2011 They aren't providing confidence either - the state does that for them. You signed to borrow, they sold your signature to get the money. Short selling without disclosure. the only thing that can stop this is knowledgable customers asking the questions and refusing to pay if found. sure you did. You are the reason they can lend to you and expect more back. same at the other end...Gilt issuance....YOU are the reason people lend to government. there are only people in this world. they generate loans, assisted by Oil. If the Oil is running out, then clearly we have a financial issue too. Quote Share this post Link to post Share on other sites
Injin Report post Posted March 2, 2011 sure you did. You are the reason they can lend to you and expect more back. They didn't lend. That's the point. They sold/borrowed against what you signed and passed the proceeds on, but what they sold was yours. same at the other end...Gilt issuance....YOU are the reason people lend to government. there are only people in this world. they generate loans, assisted by Oil. If the Oil is running out, then clearly we have a financial issue too. People lend to the government because it has the power to steal anything it likes (and they have no morals.) Quote Share this post Link to post Share on other sites
Bloo Loo Report post Posted March 2, 2011 They didn't lend. That's the point. They sold/borrowed against what you signed and passed the proceeds on, but what they sold was yours. People lend to the government because it has the power to steal anything it likes (and they have no morals.) brainfreeze. Quote Share this post Link to post Share on other sites
Injin Report post Posted March 2, 2011 brainfreeze. Which is why they get away with it. Man offers you form. You sign it,he doesn't. Suddenly it's worth something commercially. The only thing that makes it worth anything is the bit you added, therefore all the value comes from you. Quote Share this post Link to post Share on other sites
