What is a Bank Loan ?

By Larry Hannigan's Australia

"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks." Lord Acton

MORTGAGE SUMMARY

Borrower Signs the Bank's Loan Contract and Mortgage

Borrower's Signature transforms the Loan Contract into a Financial Instrument worth the Value of the agreed Loan Amount

Bank Fails to Disclose to Borrower that the Borrower Created an Asset

Loan Contract (Financial Instrument) Asset Deposited with the Bank by Borrower

Financial Instrument remains property of Borrower since the Borrower created it

Bank Fails to Disclose the Bank's Liability to the Borrower for the Value of the Asset

Bank Fails to Give Borrower a Receipt for Deposit of the Borrower's Asset

New Money Credit is Created on the Bank Books credited against the Borrower's Financial Instrument

Bank Fails to Disclose to the Borrower that the Borrower's Signature Created New Money that is claimed by the Bank as a Loan to the Borrower

Loan Amount Credited to an Account for Borrower's Use

Bank Deceives Borrower by Calling Credit a "Loan" when it is an Exchange for the Deposited Asset

Bank Deceives Public at large by calling this process Mortgage Lending, Loan and similar

Bank Deceives Borrower by Charging Interest and Fees when there is no value provided to the Borrower by the Bank

Bank Provides None of own Money so the Bank has No Consideration in the transaction and so no True Contract exists

Bank Deceives Borrower that the Borrower's self-created Credit is a "Loan" from the Bank, thus there is No Full Disclosure so no True Contract exists

Borrower is the True Creditor in the Transaction. Borrower Created the Money. Bank provided no value.

Bank Deceives Borrower that Borrower is Debtor not Creditor

Bank Hides its Liability by off balance-sheet accounting and only shows its Debtor ledger in order to Deceive the Borrower and the Court

Bank Demands Borrower's payments without Just Cause, which is Deception, Theft and Fraud

Bank Sells Borrower's Financial Instrument to a third party for profit

Sale of the Financial Instrument confirms it has intrinsic value as an Asset yet that value is not credited to the Borrower as Creator and Depositor of the Instrument

Bank Hides truth from the Borrower, not admitting Theft, nor sharing proceeds of the sale of the Borrower's Financial Instrument with the Borrower

The Borrower's Financial Instrument is Converted into a Security through a Trust or similar arrangement in order to defeat restrictions on transactions of Loan Contracts

The Security including the Loan Contract is sold to investors, despite the fact that such Securitization is Illegal Bank is not the Holder in Due Course of the Loan Contract

Only the Holder in Due Course can claim on the Loan Contract

Bank Deceives the Borrower that the Bank is Holder in Due Course of the Loan Contract

Bank makes Fraudulent Charges to Borrower for Loan payments which the Bank has no lawful right to since it is not the Holder in Due Course of the Loan Contract

Bank advanced none of own money to Borrower but only monetized Borrower's signature

Bank Interest is Usurious based on there being No Money Provided to the Borrower by the Bank so that any interest charged at all would be Usurious

Thus BANK "LOAN" TRANSACTIONS ARE UNCONSCIONABLE!

Bank Has No True Need for a Mortgage over the Borrower's Property, since the Bank has No Consideration, No Risk and No Need for Security

Bank Exploits Borrower by demanding a Redundant and Unjust Mortgage

Bank Deceives Borrower that the Mortgage is needed as Security

Mortgage Contract is a second Financial Instrument Created by the Borrower

Deposit of the Mortgage Contract is not credited to the Borrower

Bank Sells the Borrower's Mortgage Contract for profit without disclosure or share of proceeds to Borrower

Sale of the Mortgage Contract confirms it has intrinsic value as an Asset yet that value is not credited to the Borrower as Creator and Depositor of the Mortgage Contract

Bank Deceives Borrower that Bank is the Holder in Due Course of the Mortgage

Bank Extorts Unjust Payments from the Borrower under Duress with threat of Foreclosure

Bank Steals Borrower's Wealth by intimidating Borrower to make Unjust Loan Payments

Bank Harasses Borrower if Borrower fails to make payments, threatening Legal Recourse

Bank Enlists Lawyers willing to Deceive Borrower and Court and Exploit Borrower

Bank Deceives Court that Bank is Holder in Due Course of Loan Contract and Mortgage

Bank's Lawyers Deceive and Exploit Court to Defraud Borrower

Bank Steals Borrower's Mortgaged Property with Legal Impunity

Bank Holds Borrower Liable for any outstanding balance of original Loan plus costs

Bank Profits from Loan Contract and Mortgage by Sale of the Loan Contract, Sale of the Mortgage, Principal and Interest Charges, Fees Charged, Increase of its Lending Capacity due to Borrower's Mortgaged Asset and by Acquisition of Borrower's Mortgaged Property in Foreclosure. Bank retains the amount of increase to the Money Supply Created by the Borrower's Signature once the Loan Account has been closed.

Borrower is Damaged by the Bank's Loan Contract and Mortgage by Theft of his Financial Instrument Asset, Theft of his Mortgage Asset, Being Deceived into the unjust Status of a Debt Slave, Paying Lifetime Wealth to the Bank, Paying Unjust Fees and Charges, Living in Fear of Foreclosure, and ultimately having his Family Home Stolen by the Bank.

Thus the BANK MORTGAGE BUSINESS IS UNCONSCIONABLE

Also see http://www.scribd.com/doc/24929701/Exhibit-C-Mem-of-Law-Bank-Fraud

Comment:

SOLUTION:  A debt free resource based economy that is in the process of co-creation. Many compassionate and socially responsible minds are hard at work now designing this new economy where all people are equal - wealth is evenly distributed throughout the entire world - the countries that have had the harshest fall out as a result of the banking systems will benefit too ... thankfully.  Keep a loving vibration maintained throughout the chaos that we are experiencing now and that chaos will be around for at least the rest of this year.  These comments are based upon what many loving souls are seeing for our future now.  Long live the good!