Wtf? Are American banks really like this?

[Anders Lindman]

Check out this video:

http://uncutvideo.aol.com/videos/9e9240d9ecfec77e7007aa71dd033ce2

When a person wants a loan for a house (mortgage), then, according to the video, the bank looks at:

- Personal credit score
- Income
- Monthly bills
- Job history
- Past rent payments
- Personal money reserves

When I took such a loan at a Swedish bank, they only asked (if I remember correctly) what my current income was, and I only gave them an approximate figure and that was all they needed. On the other hand, a Swedish citizen can become sort of 'blacklisted' if he or she has repeatedly failed to pay bills, for example. So maybe a Swedish bank only has to check if the person is on the black list or not. :confused:

[graflok]

Yes, American banks are really like that.

[Anders Lindman]

Yes, American banks are really like that.

The strange thing is that in the BBC video about banks I posted in another thread they said that banks give out credit cards and increase the credit on them even when they know that the person most likely will not be able to pay the interest without taking even more credits! That's the opposite of the more responsible way of making sure the customer will be able to pay for the loan.

When giving a loan for a house or an apartment, then surely it is the house or the apartment that is the security for the bank? Why would a bank need loads of personal details for that? That is especially strange, when it comes to credit cards, where the banks are more than willing to give them to people with financial problems. In fact, people in financial difficulties are more likely to pay interest with more credits, and they therefore can generate higher profit margins for the banks. Looks like dirty business to me.

[cruise4]

You don't get it...

Lets say you want a mortgage for a house.

You go to a Privately owned bank (Rothschild & Co)
They 'invent' money out of thin air and call it a mortgage.
You then have to pay back this mortgage back in 'REAL NOTES'
And all that money is profit for them as they only lent 'thin air'

Interest is even more profit for them from lending you 'thin air'.

And because of fractional Banking every time you pay a NOTE in,
they lend out 10 times the amount of 'thin air'

YOU... who cannot pay their 'thin air' back with 'thin air' has to use 'REAL NOTES'... or should you default... YOUR HOUSE.

Can you not see the extent of the robbery going on here?

This is why its a criminal extortion racket run by mobsters, enforced by laws and hidden via obscurity. Wake Up.

[Anders Lindman]

You don't get it...

Lets say you want a mortgage for a house.

You go to a Privately owned bank (Rothschild & Co)
They 'invent' money out of thin air and call it a mortgage.
You then have to pay back this mortgage back in 'REAL NOTES'
And all that money is profit for them as they only lent 'thin air'

Interest is even more profit for them from lending you 'thin air'.

And because of fractional Banking every time you pay a NOTE in,
they lend out 10 times the amount of 'thin air'

YOU... who cannot pay their 'thin air' back with 'thin air' has to use 'REAL NOTES'... or should you default... YOUR HOUSE.

Can you not see the extent of the robbery going on here?

This is why its a criminal extortion racket run by mobsters, enforced by laws and hidden via obscurity. Wake Up.

Yes, the video Money as Debt (that's where my current nasty avatar is taken from :D) clearly shows that money is created from previous debt, which is created from previous debt and so on. And the banks charge interest for this ever increasing debt.

I have not a very big loan on my apartment, but it still is a lot of interest for the loan to pay each month. And what did my bank need to do in order to give me the loan? They simply typed in a number on a computer terminal, and for that they can demand interest from me month after month, year after year. It's really horrible. Except for the bank, who can earn a lot of money over many years for basically simply typing in a number on a keyboard!!!

[cruise4]

I think I may be having a language difficulty with you Anders so please bear with me....

I just want to be certain....

You do see that the 'money' they lend you is not real?

So its not just the interest... its the actual loan amount too.

[Anders Lindman]

I think I may be having a language difficulty with you Anders so please bear with me....

I just want to be certain....

You do see that the 'money' they lend you is not real?

So its not just the interest... its the actual loan amount too.

Yes, or more correctly, the loan is based on previous debt. So it's even worse than thin air, because more and more debt is generated from previous debt leading to an exponential growth of debt. That's why so many people, companies and governments are already heavily in debt to bankers, and it is getting worse all the time.

[espii]

Yes, or more correctly, the loan is based on previous debt. So it's even worse than thin air, because more and more debt is generated from previous debt leading to an exponential growth of debt. That's why so many people, companies and governments are already heavily in debt to bankers, and it is getting worse all the time.

That's why we should tell the banks we don't owe them anything anymore
and they have to return everything they have robbed.

Then we start a new real and sound money system. debt free.

[william_mac]

Check out this video:

http://uncutvideo.aol.com/videos/9e9240d9ecfec77e7007aa71dd033ce2

When a person wants a loan for a house (mortgage), then, according to the video, the bank looks at:

- Personal credit score
- Income
- Monthly bills
- Job history
- Past rent payments
- Personal money reserves

When I took such a loan at a Swedish bank, they only asked (if I remember correctly) what my current income was, and I only gave them an approximate figure and that was all they needed. On the other hand, a Swedish citizen can become sort of 'blacklisted' if he or she has repeatedly failed to pay bills, for example. So maybe a Swedish bank only has to check if the person is on the black list or not. :confused:

yep, I actually have to write articles on mortgages and reverse mortgages. Fannie Mae (which was created in 1928 by Roosevelt) and the FHA (Federal Housing Administration) are the two main culprits. As far as you being "blacklisted" well, here, our home is just taken away in a foreclosure if there are missed payments.

In fact, the way in which foreclosures take place are disgusting. The bank takes away your home, and usually does this while you're away, anything inside the house is thrown out on the street, and anybody that drives by can take what is on the street. How civil!



-William

[Anders Lindman]

That's why we should tell the banks we don't owe them anything anymore
and they have to return everything they have robbed.

Then we start a new real and sound money system. debt free.

It should be possible to make it illegal to charge interest on money. That would be interesting. And to prevent chaos and too abrupt change in the system, this can be done gradually over a few years, so at first charging interest on money is fully legal, but then gradually the interest charged on money can be reduced in steps: at the start 100%, then after 3 months 90%, and after 6 months 80%, and then after 30 months the interest charged on money will be 0%.

But then what about return on investment? The answer is that return on investment will still be possible, but it will not be possible to make money out of money (usury). Only real value-adding will generate profit.

[Anders Lindman]

yep, I actually have to write articles on mortgages and reverse mortgages. Fannie Mae (which was created in 1928 by Roosevelt) and the FHA (Federal Housing Administration) are the two main culprits. As far as you being "blacklisted" well, here, our home is just taken away in a foreclosure if there are missed payments.

In fact, the way in which foreclosures take place are disgusting. The bank takes away your home, and usually does this while you're away, anything inside the house is thrown out on the street, and anybody that drives by can take what is on the street. How civil!



-William

In Sweden the banks can take a house away too I think. It's really disgusting that a bank can take a house away from someone based on a loan that they have created out of nothing!

[william_mac]

In Sweden the banks can take a house away too I think. It's really disgusting that a bank can take a house away from someone based on a loan that they have created out of nothing!


i didn't know much about mortgages or anything. But, because I write a lot of SEO and research articles for different companies, I actually learn quite a lot. Just writing about these mortgages, it doesn't make any sense. Why are almost literally FORCED to take out mortgages on our homes, unless we can pay directly out of pocket. Why are we forced to pay interest on the mortgages? Why does the bank OWN OUR home?

It all started here after the depression, the president decided to start Fannie Mae and Federal Housing Association to help Americans get homes, even though they fucking started the problem (depression).

A better idea would be to put a downpayment on the home, and then, according to your job, age, amount of income, and property value of the home being sought after, sign a contract to pay monthly incriments through your own income until the remaining household costs are paid off. Now, of course this will require some kind of interest for the bank to make money, which is understandable. But, instead of the making the interest variable by month or year, make the interest rate fixed as long as the homeowner retains his or her current income. The only way the interest would change is if the homeowner's income increased, or decreased, and if the value of the home and property rose or fell.

This would mean that what is being paid off is cold hard legal tender, not imaginary. And, while it still has it's inconveniences, it is a more tangible system. If the homeowner fails to pay his or her monthly payment, then he or she should have a "grace" period as is common with credit card payments. If the homeowner further fails, then the homeowner must give up the house to the bank (by contract) and the bank will sell the house in order to make back the loan.

Now, this is similar to a foreclosure, except in the fact that it will not be some kind of SUDDEN thing. If the position of the homeowner effects the interest rate he or she pays, and if the home value itself effects the interest rate, then the homeowner will have fair warning, and time to prepair. Also, he or she will not loose as much from the foreclosure.

Why am I talking about this. I seriously want to sit down now and work this out. Man I'm weird.



-William-Mac.com

[Anders Lindman]

Now, of course this will require some kind of interest for the bank to make money, which is understandable.

Not necessarily. As described in the video Money as Debt the government could give a person a loan for a house with ZERO interest. Usury is not needed. Banks are not needed.

Debt-free scenario: When I buy a house I take a debt-free loan from the government with a plan to pay on the loan at a minimum amount per month. After a while I have, say, payed 10% of the loan. Then let's say that I suddenly for some reason get into a financial problem and cannot pay the the monthly payment on the loan. Will the government then be able to take my house away from me? No. I own 10% of my house, so the worst thing the government can do is to demand that I sell the house, and I will then keep 10% of the amount the house is sold for. So the loan in this case is not a cost. The interest-free loan is an investment. A very secure personal investment. An investment solid as gold. Gold that I can live in.

[cheesedanish]

How do we get out of this trap ... as they say .. he (the Illuminati) who controls the money/banks .. control the world ... they have soooooo much money its not even funny!

[william_mac]

Not necessarily. As described in the video Money as Debt the government could give a person a loan for a house with ZERO interest. Usury is not needed. Banks are not needed.

Debt-free scenario: When I buy a house I take a debt-free loan from the government with a plan to pay on the loan at a minimum amount per month. After a while I have, say, payed 10% of the loan. Then let's say that I suddenly for some reason get into a financial problem and cannot pay the the monthly payment on the loan. Will the government then be able to take my house away from me? No. I own 10% of my house, so the worst thing the government can do is to demand that I sell the house, and I will then keep 10% of the amount the house is sold for. So the loan in this case is not a cost. The interest-free loan is an investment. A very secure personal investment. An investment solid as gold. Gold that I can live in.

Very interesting. I'm not well versed in economy and finances. I'm trying to study as much as I can. But, that is a wonderfully enlightening way to put it.

I've been planning on investing in gold, and will start soon. I was discussing something with a friend of mine the other day, he doesn't know anything about Illuminati and all that, but her worked at a bank for a very long time. I told him that I bet the system of cash here in America, within the next six years, will be completely obliterated. Instead, what we pay with, earn, and store will be "points" or "credits". Basically, we will be earning points for work, if you have enough points, you can buy something, yay!

Well, to me, as a more artistically minded person, even though I'm trying to self educate myself and be more well rounded in all things, I though that this was a really stark revelation. I was waiting for the "good thinking" nod when he goes "yeah...duh".

That's when I though "fuck, I really need to buy some gold... and maybe a gun, and invest in some ninja lessons" hah hah.



-William
www.William-Mac.com

[lumukanda]

How do we get out of this trap ... as they say .. he (the Illuminati) who controls the money/banks .. control the world ... they have soooooo much money its not even funny!

so much money yeah, pretty easy when it doesn't exist and all you have to do to get more is add a zero at the end...
interest, biggest scam out there.

[james777]

Yeah, I used to work for 'Bank Of America' in the mortgage and loans department and it's a very, very, very shady business. I quit because I didn't want to be part of the 'machine'.

I did learn though that the 'banks' own nothing. Not even the offices we worked in, it's just another way for them to pass liability onto someone/something else.

But yes, 'credit score' lending is crucial if you live in america......I personally never plan on owning a home, because the banks can screw you in so many ways..there are great ways however to get around this "get a loan' business.......

[cruise4]

"That's why we should tell the banks we don't owe them anything anymore
and they have to return everything they have robbed.

Then we start a new real and sound money system. debt free."

Spot on!

In the meantime get the lenders to show 'material loss' and when they can't don't pay them as they haven't got a legal contract.