The case for an all out voidable contract (voidable promissory note)

1) Commercial Banks for the most part, are not inhibited by monetary expansion by reserve requirements. Basically the only control that the Federal Reserve central bank has is in the introduction of the money via the M0 money supply. That means that while the supreme court have agreed that congress could utilize an agent, such as the federal reserve central bank, it cannot, however, allow absolute control over the expansion and contraction of the money supply from decisions made in private conference rooms. The reason for this is more than mere constitutional requirements that congress “coin money and determine the value thereof”.
The reason is mathematical. If banks, utilizing fractional reserve lending can expand the money supply via liars loan, easy credit, then you create the so-called “irrational exuberance”. This misnomer, irrational exuberance, is similar to taking a box full of twenty dollars bills and thrown it out the window on a busy workday in some downtown area. Similarly, the logic behind taking out credit on a stable economy, is to improve our lives, obviously. Additionally historically easy credit and the “irrational exuberance”, is a phenomena which has a long long history. No news here how the population responds to easy credit. So why would the banks do it, being informed of how history shows a long long list of samples of this phenomena? The answer is simple. The banks are trading real assets for paper, because in truth the money they create is just mere paper, paper by the actual bank and paper by the central bank. The promissory note lacks real consideration. The trade off is real wealth, real labor for some pieces of paper back by a government legal tender decree, and laws that only commercial banks are allowed to

2) The reason is mathematical. If banks, utilizing fractional reserve lending can expand the money supply via liars loan, easy credit, then you create the so-called “irrational exuberance”. This misnomer, irrational exuberance, is similar to taking a box full of twenty dollars bills and thrown it out the window on a busy workday in some downtown area. What you will see is now called “irrational exuberance”. Similarly, in the mind of the borrower, i.e. the logic of the credit is to invest and improve his/her life. They think that the economy is going to either continue booming or positively stabilize. Additionally historically easy credit and the “irrational exuberance”, is a phenomena which has a long long history ending very bad for the borrower. No news here how the population responds to easy credit. So why would the banks do it, being informed of how history shows a long long list of samples of this phenomena? The answer is simple. The banks are trading real assets for paper, because in truth the money they create is just mere paper, (or mere entries in a book keeping ledger), paper by the private bank and paper by the central bank. Dont make the mistake of thinking that we were once on the gold standard. The gold standard simply means that bank loan paper money receipts (stipulating that the borrower paid back in precious metal) which were suppose to be back by gold. What the bank did was to give loan multiple receipts for the same amount of gold. The banksters had one pound of actual gold but 30 or 40 or 50 pounds of receipt for that one pound of gold circulating in the economy.. It is said that through experience the figure out that only 10% of the gold actually saw any depositor activity.

3) The statistic showing the economic lost of the working class is approximately 40 trillion dollars. Some of that is due to the lost of equity of homeowners, but some of it is people that have lost their down payment, the money they paid when they took possession of their new home and they were fore closed on, Also bankruptcy, and lost of employment. Shrinking monetary units leads to an economic downturn which proves a bonanza for those cash heavy investors. This also has a long history: investor who pulled out of the market place just before crash and re-entered to buy controlling interest when the market was down.

Moreover you have a mathematical fraud, coupled with motivation. whey can there be a lawsuit?
where are the lawyers?
incidently my email address is Joolyo@gmail.com for anyone interested in a class action lawsuit.

Qny81….don’ be spreading the Fabian Socialist agenda crap around here….You sound like the rest of the FORECLOSUREGATE GANG…..YOU SIGNED A MORTGAGE!!! NO I DID NOT SIGN A CONTRACT FOR A PRETENDER LENDER TO COMMIT HUNDREDS OF TRILLION OF DOLLARS OF FRAUD IN MY NAME….AND EITHER DID ANYBODY ELSE….NOR DID I GIVE THEM PERMISSION TO ALTER THE CLOSING DOCUMENTS AFTER THE CLOSING…OR FORGE MY INITIALS on THE MORTGAGE NEXT TO THE TYPOS……..AS FOR RON PAUL…..HE IS A MEMBER OF THE JOHN BIRCH SOCIETY, FOUNDED BY THE ROCKEFELLERS AND THE FREEMASONS…..HE WAS PUT HERE TO REIGN IN THE NEW WORLD ORDER DISSENTERS…..WE THE PEOPLE ARENOT DRINKING THE COMMIE KOOL-AID ANYMORE…….
http://www.thebirdman.org/Index/NetLoss/NetLoss-Oliver.html

qny81,

did you get a bonus or kickback for steering people who had perfect credit scores into
“subprime” loans?

yeah, thought so.

people who were self-emplyed were kettled into subprime loans.
it was all a racket.
the securitization ponzi scheme — the slicing and dicing of our loans that were sold many times.

our notes and mortgages don’t exist. they were destroyed in order to obliterate a paper trail of fraud committed by the banks and wall street to enrich themselves.

the minute our loans were signed, our signatures were sold on the open market. we did NOT agree to this.

we want the ill-gotten gains.

that was meant for
qny81

what don’t you get?

do you not understand that at the closing, when people signed, they were signing
to terms that were later changed and photoshopped?

they were signing docs that were not what was presented in the TILA?

shame on you. there is no defense.
don’t attack the victims of fraud.

you lost any credibility when you started your post “as a mortgage broker…”

well, that is the thing that is so disturbing. the fraud is so obvious
and virtually nothing is being done to stop it.
fraud has been committed not only upon the homeowners but upon the Court.

it is a total mindscrew.
everything we were taught to believe and respect has been turned upside-down.

SHUT THE HELL UP!!! IF YOU DID YOUR JOB, LIKE LOOK AT A BANK STATEMENT, OR A PAY STUB, REGARDLESS IF IT WAS YA’LLS’ NO DOC. LOAN, YOU STILL HAVE A FIDUCIARY DUTY TO YOUR OATH TO MAKE SURE YOU PROTECTED US… YOU CAN BLAME US, THE REAL WORKERS OF THE UNITED STATES. THE PEOPLE THAT PUT IN A 15 HR. DAY, BECA– USE YOU CAN’T LIVE ON AN 8 HR. DAY, REGARDLESS HOW MANY, LIVING IN THE HOME, HAVE TO WORK TO PAY FOR A ROOF OVER OUR HEADS AND OUTRAGOUS POWER & LIGHT BILLS!!! I’m from an unbroken home. My father gave 25 yrs. of our lives to the military and another 18 yrs. to civil service, working on the boat biulding docks after giving the best years of all of us, to the government! I can’t believe as many real fighters as there are in the U.S. that we are letting THE FEW RULE OVER THE MANY… WE SHOULD NOT BE AFRAID OF THE GOVERNMENT, THEY WORK FOR US!!! AND IT SEEMS THEY NEED A REMINDER OF WHO THE HELL RUNS OUR COUNTRY!!! WHEN WE JOIN TOGETHER, WE RULE THE WORLD…

What’s worse, they continue with even more control over the appraisers, having the appraisers “Under Appraise” now. First, the banks had appraisers “Over Appraise” our properies, so they could steal the “fake equity” they pretended we had in our homes. They stole our equity, and when the government decided to do something about it, (they call bailout, I call extorting taxpayers, forced to pay criminals to allow us to live in our earned homes!!!) Now, since the government did not enforce the stipulations in the bailout, again, we are f—-d! The appraisers are forced to write what the banks tell them to…which means, even though the government pretends they will give “new loans” regardless of credit, missed payments etc. ITS BULLSHIT!!! You CAN NOT QUALIFY for a HIGH ENOUGH LOAN BECA– USE THE PROPERTY IS SO UNDER APPRAISED. My property taxes have dropped less than 15%. How can my property drop 48% in the same time frame? IT’S BULLSHIT! I NEVER RECEIVED ANY OF THE EQUITY THAT WAS SUPPOSED TO PAY OFF MY FINANCIAL OBLIGATIONS, AND I DID NOT RECEIVE ANY CASH!!!

@ Lies of it all – you are right about those car-salesman mortgage brokers. While we did need some sort of regulation on who could originate mortgages the end result of this crisis has all but shut the doors on the ones that have prevailed and were performing their jobs according to guidelines. But please don’t criticize the entire basket for a few bad apples. Most of those brokers are gone now who couldn’t make the cut with the new regulations. It makes it very difficult to become a mortgage broker now and it is expensive to do so. In the long run, however, the regulations imposed have only added to the costs to the consumers, like you, and at the same time regulating the income of the brokers. Free enterprise has gone out the window. If you were self-employed how would you like the government telling you how much money you can make with your business? If you’re selling a product how would you like the government telling you the price of that product you are selling? Does not the consumer determine where and what price they want to pay for an item? That goes for cars, clothes, and houses. If you didn’t like the price on something you went somewhere else or at least shopped the price, correct? Well, for those bad apples we all pay the price now. I am a struggling mortgage broker, still around, and yet obviously did not make the huge profits during the boom or else I would not be here. I managed to prevail but those who preyed on consumers like yourself are sittin’ pretty. I hope that in due course they will get their due.