Monday, December 26, 2011

Nine Myths And Misconceptions About Money That Can Literally Kill You

I chose to reprint this at this time because I am currently experiencing problems with this issue. First I want to say that as you read this you will see too why it is no surprise who is really in charge. You will also understand why President Lincoln and President Kennedy were assassinated. Anyway we hear every day how low the bank rates are and offers from everyone and their brother to refinance your mortgage at a lower rate and for maybe no cost. Well!

It has been over a month of phone calls now and we are still having a problem finding a bank who will do a Refi for us because we do not owe enough money to make it worth their while. I was under the misconceived impression that it behooved any bank to lower your rate but boy was I wrong. Our current bank will not cooperate with us and is trying everything under the sun to keep us feeding their inflated rate but we are out of there.

The final straw for me was when they said closing costs would be 7 to 9 thousand, for a 46 thousand dollar loan get real! I finally talked to a woman at one agency who finally spoke the truth. She used my standard line and that is that we do not matter. She said the Federal Reserve does not represent us they work for and represent the banks.

That led me to dig this up as she was right and we are so screwed. This is sobering and reaffirms what I was being told. I am just so peeved at this lie we are living they call a Democracy. This is all disquieting but give this a quick glance.

This was sent to me with no Author by someone more than in the know but I will leave that alone.Read it and weep, I am wanting to say every expletive in the world as once you hear this it makes 100% common sense and we are powerless? I do not know who the Author is but this is frightening, sobering, debilitating, and frustrating, what do we do about it? Pay particular attention to all of it, Google whatever you want. Man am I peeved with this set up they call a Democracy. SOB!

1) If we paid off our debts, our problems would be solved. Wrong. Wrong. Wrong. The banks wrote the Federal Reserve Act in secret. They said you would not be allowed to have money unless you first went into debt. In fact when you pay off a loan, the bank cancels money supply. So if we all paid off our debts including the government debt, we would have no money and the economy would collapse. We would all be reduced to barter.

2) The bankers who wrote The Federal Reserve Act in 1913 knowingly engineered a Fatal Debt Bomb into the legislation. This is true. When you go to a bank to get a loan, the banker created ten thousand dollars in new money by entering that amount onto a checking account. Notice that if you signed a note for simple interest at 10%, you will owe the banker $11,000 in one year’s time. He only created $10,000 so how do you pay him back the principal plus interest? Good question. What he does is to create more money through more loans so there is enough money to pay the note plus interest.

This means that the total amount of debts in the society are growing at a compound rate. Bankers have known since the Babylonians that unchecked exponential growth of unplayable debts will destroy any nation with a Debt Bomb. This is what is happening to America and the world today. Michael Hudson wrote about the Babylonian solution. They developed a formula that told them how long this rising tide of Unpayable Debt could grow before they had to cancel all the debts and start over again.

Let me repeat that the bankers have known this for over 4,000 years. But they have made sure that you know nothing of it because they want to foreclose on you and your nation so they can but everything for pennies on the dollar in bankruptcy proceedings.

The Russian demographer Borisov tells us that the bankers starved millions of Americans to death in the 1930s rather than allow people to understand the Babylonian solution. The Bible writers copied this concept when they wrote of the Jubilee cancellation of debt.

3) The Federal Reserve Act was written to transfer wealth from us to the bankers through the creation of a Debt Based money system. This is true. President Lincoln had created Greenbacks without borrowing money from the banks so there was no national debt and no interest on the debt. Lincoln simply printed the money and spent it into circulation.

There is absolutely no reason to have a national debt except to collect interest on a fictional debt. Why give the power to create money to the banks when government alone according to the Constitution is supposed to coin money? I will tell you why. The banks want to bring back slavery. They want you to become an indentured servant who inherits a national debt that is unpayable. They want to reduce you to slavery,

Any politician or pundit who does not understand this is either stupid or lying.

I should point out that President Kennedy issued Executive Order 11110 which directed the Mint to issue US Banknotes to replace Federal Reserve Notes. These JFK Banknotes were to be debt free as were Lincoln’s Greenbacks. They were withdrawn from circulation after his assassination. JFK was murdered on the 53rd anniversary of the secret meeting of the bankers on November 22nd, 1910 in a private rail-car that took them to Jekyll Island. Bankers like to do things on the anniversary of an important date to make sure you understand that monetary reform carries a death penalty.

4) All we have to do to solve our economic woes is to balance the budget. Wrong. Wrong. Wrong. All those knuckleheads need to listen and learn. The Gross National Product is the total sales of a country. Economists write it as a formula Where GNP = C + I + G or GNP equals Consumption plus Investment plus Government spending. The total GNP is currently 14 trillion dollars. Suppose we balance the budget by cutting spending two trillion dollars. That would mean we subtract two trillion from G and our new GNP is reduced to 12 trillion dollars which means that one seventh of the American economy would disappear overnight. That would send us instantly into a worse economic blight than the first Great Depression. Currently the states owe the federal government almost 100 billion dollars for extended unemployment benefits.

A man was recently explaining to his young daughter that we have no bread lines like they did in the 1930s because we have almost 49 million people on Food Stamps. Suppose we cut off unemployment extended benefits and Food stamps to make a down payment on that two trillion dollar budget cut. America would have nationwide food riots. 90% of all black children are on Food Stamps. I do not know the figures for Hispanics. But there would be no grocery stores in major cities that would not escape the riots.

If you hear someone talking of cuts, tell them to eliminate Unpayable Debts and interest on the national debt by bringing back non-interest bearing debt free Greenbacks. Then they can cut out the five foreign wars and remove our troops from at least 100 foreign nations. Then they can seize the assets of the banks that stole over 27 trillion dollars from us during the Banker Bailouts.

5) Fiat currencies always fail. What we need is a gold standard. Wrong. Wrong. Wrong. Presidents Lincoln and Kennedy had fiat currencies that were successful. And only ended with their assassination. The Isle of Guernsey and the American colonies both had fiat currencies that were successful.

The Italians had a gold currency that failed in 1348. The bankers loaned out more money than they had on deposit. This is called fractional reserve banking. Usually a bank will loan out nine times what it has on deposit. The Italian banks in Venice were unable to meet demands for gold from their depositors.

Currently, the risk manager at JP Morgan has two thousand dollars in risk for every dollar in deposits. I think this is an underestimate.

6) America could go onto the gold standard because we have all that gold at Fort Knox. Wrong. Wrong. Wrong. America has gold plated tungsten bars at Fort Knox. And the banks leased our gold and sold it four or five times to keep themselves from going bankrupt.

The gold was stolen by the Rothschild s and their friends. If we went back to the gold standard, we would be entering slavery to the Rothschild network because they would have all the gold money. The Rothschild s financed the Jewish trade in African slaves. Ask a black man how well that Rothschild slavery worked out for him.

I personally own silver because I expect this fractional reserve debt based monetary scheme to collapse very soon. I would use a gold exchange standard to get things going. But I could manage a monetary system with Greenbacks if Zionists and morons on welfare were not allowed to vote.

7) All we need to do to balance our trade deficit is to cut wages by devaluing the dollar so we can become more competitive. Wrong. Wrong. Wrong. Steve Keen is an Australian economist who says we need to increase wages so debts become payable. Unpayable debts lead directly to slavery. The US dollar eleven years ago was worth $1.20 when measured against a basket of six currencies. Today the US dollar is worth almost 75 cents. This has not created one job in the past decade. What it has done was raise the price of oil so everything costs more to produce.

In China factory workers are lucky to make a dollar an hour. They work 72 hours a week. They get no overtime and have no benefits. The Chinese workers do not make enough money to ride those Mag Lev fast rail trains you have read about. Suppose we cut American wages in half? Would that create jobs? No. We have been cutting wages since 1970 and we have fewer jobs today than then. It never worked in the past. No reason to believe it will work now.

To make the debts easier to pay we need to raise wages. To do that we have to stop issuing a million Green card work permits for legal immigrants. And we need to send back a few million illegal immigrants to open jobs for millions of unemployed Americans. But to create jobs we need new industries. We need to protect those industries with a 25% tariff. We need to create new jobs in computers, materials science, bio-engineering, aviation and energy by releasing the Top Secret research that is held in government labs. We could collect royalties from American industries employing American citizens. We could lease these patents to foreign competitors but we need a tariff to protect American jobs.

We made America prosperous by repealing the Glass Steagall Act and by allowing Credit Default Swaps to remain unregulated. Wrong. Wrong. Wrong. The bankers passed NAFTA and the WTO in 1994 so they could send 11 million jobs and 43,000 manufacturing plants overseas. They created the illusion of prosperity under Clinton by pumping up real estate and the stock market. The stock market was deliberately crashed in 2000 so the Zionists could elect George W Bush President because they wanted lots of wars for Israel. When the stock market failed, the Zionists created the subprime lending bubble on top of the already existing housing bubble. They loaned money to people who had no means of paying the loans. That did not matter. Some mortgages were sold as many as five times in Mortgage Backed Securities. When these loans failed, the banks collected on their Credit Default Swap insurance. There were no reserves set aside to pay losses. That did not matter. The bankers had the taxpayers pay out 27 trillion dollars in Bailouts to cover their frauds and keep the banking criminals out of jail. When the Europeans threatened a run on the American banks if they were not compensate for the trash Wall Street sold them, Ben Bernanke created 12.3 trillion dollars in new money and use it to but 6.3 trillion dollars in fraudulent bonds.

Glass Steagall was passed in 1933 and forbade investment banks from becoming commercial banks so the depositors are not exposed to speculative risks. With the repeal of Glass Steagall Jamie Dimon at JP Morgan was allowed to sell 80 trillion dollars in Credit Default Swaps betting that interest rates will not go up. If interest rates do go up, there will be worldwide Depression. Jamie Dimon isn’t worried about it because he probably knows when the Zionists will start World War III.

This is not a free market. It is criminality on a grand scale.

9) We have a moral obligation to pay our national debt. Wrong. Wrong. Wrong.

Jim Willie pointed out to Max Kaiser that in the 1990s under beloved leaders Bill Clinton and George H W Bush the Treasury sold 2.2 trillion dollars more in Treasury bonds than were required to fund the deficit. That money was pocketed by the banks who now expect you to pay them back for the money they stole plus the interest. Catherine Austin Fitts has been telling us for years that the government allows the banks to steal billions of dollars every week from government spending which we are not allowed to audit.

We owe the banks nothing. We need to take back what they have stolen.

I also need to make this point about money creation. When a bank makes a loan, they are creating money by adding credits to a bank account. They are not lending you Mrs. Jones life savings. What they are doing is creating money. Money is a claim against our right to purchase goods and services. If we increase the money supply, then we are all in a sense bearing a burden by the diminished purchasing power of our money. But only bankers are allowed to participate in the benefits of granting a loan. I don’t think so. Cancel the debts and seize all of the banker’s wealth. And that of their co-conspirators. We ought not to suffer because the bankers killed our Presidents.

James Joiner
Gardner, Ma


Vicki said...

Thank you for all the information you have offered. Jim, re: refinance, you may be able to take advantage of some refi programs thhat the banks won't tell you about them because they want you to refinance with them. When we refinanced in 2009 from our interest-only loan, we used a mortgage broker (we'd used him before and he was quite knowledgable and honest)and knew about all the products and programs available to us. Our first try, we found our loan couldn't be found in the electronic mortgage system, so he tried one mortgage product but our appraisal came in $62,000 less than we paid for the house in 2007 so it would have required rivate Mortgage Insurance which we weren't about to pay. The second try was with a new 100% loan-to-value government program (no PMI) and the appraisal came in $52000 less than what we paid for the house. Still we got a fully amortized 30 year loan with no PMI for about 3.99 % APR. It ended up with a small bank in Ohio called Fifth Third. You are right that the closing fees on a smaller loan may be too high to consider refi but I still think that a mortgage broker is the way to go because he's not tied to a bank, just make sure he or she is trustworthy or recommended by someone you trust. He gets his commission from the mortgage issuer.

an average patriot said...

Thanks Vicki! Personally I have been scared away from mortgages brokers and have been sticking primarily with local banks.

I was very peeved with the bank we took the loan with because they wanted to keep a high rate instead of doing a refi and getting something rather than nothing.

Now they will get nothing or so OI think. The more I learn about all this the more disgusted I get. I say often we are living a lie but boy are we ever!

Demeur said...

First all of this information has been given out with the Occupy movement on their live stream broadcasts. And everybody thought they were a bunch of unwashed hippies. They have been running documentaries about our financial system for months now with little attention from MSM other than some pepper spraying incidents and police clubbings.

Second before considering a broker fist check the laws of your state. Out here I found that there are no laws governing out of state brokers. One thing you might consider is taking an equity line of credit on your current home and using the money to pay off the first mortgage. That avoids many of the hoops you need to jump through and should be easy considering you have what's called a "seasoned loan". Presently I have an equity line with no closing costs or PMI at 3%. But I must warn you your credit needs to be A1 to get such a deal now as opposed to when I got mine.

an average patriot said...

Demeur the occupy movement is highlighting some really important issues but the MSM who is really in control succeeds in painting them as screwballs.

This banking crap is as bad as politics. I am so confused and fed up I do not want to be bothered. It really sucks!