From an email I get from YRIITL (your remedy is in the law)
This is the simple way to explain whats going on in layman's terms.
Question everything, challenge everything these banks or political figure tell you. Ignorance is NOT BLISS. empower yourself.
Yes money exchanged hands, but the real parties never met and never signed papers with each other”
This is patently untrue of the bank’s end of the transaction. The banks CREATED the money they supposedly “LOANED” out of thin air and keystrokes. The “borrowers” made payments in legal tender in exchange for bank “credit’ because credit functions as money in the Federal Reserve system. Banks cannot legally lend their assets, the money deposited by customers, or their credit.
The banks endorsed and deposited the Note the borrower signed, creating an asset and the corresponding liability on the bank’s balance sheets, resulting in a “zero balance” transaction. This is how the banks expand the money supply. In fractional reserve banking they use 10% reserves to generate more and more loans, that in turn generate more, ad infinitum. The bank LENT NO MONEY of it’s own, they used the borrower’s Note and credit application to create funding.
They did not suffer a loss, the lien was imperfected due to fraud, and they can’t claim your house because they didn’t perfect the security interest. End of story. Securitization didn’t happen, it was just a way to get real money from another source, and obscure the true facts of the whole Ponzi scheme.
What the banks got for essentially lending you your own money was a security interest in your house “for free” because they didn’t lend you any real money. When you let them foreclose without challenging the proceeding, you are giving away what has already been paid for many times over. In addition to the payments of interest and principle you paid in, the down payment and closing costs, they also got 130% of the “debt” immediately when they sold your loan to another bank for a profit. When they fraudulently placed your “loan” in default to clean up with default servicing fees, collect on Pool Insurance, your Private Mortgage Insurance, FDIC insurance, TARP funds, etc., they may have made as much as $3,000,000 off your loan that you were never made aware of.
Henry Ford said this: “It is well that the people of the nation do not understand our banking and monetary system, for it they did, I believe there would be a revolution before tomorrow morning.”
It’s time to spread the word, and start that revolution!