THE TRUTH ABOUT YOUR MORTGAGE - CHRISTOPHER M. RICE (book suggestions txt) 📗

that you must now pay back the “Loan” that they have made to you?
How can it be that you could just write a “Note” and pay for your home? This leads us back to the bankruptcy of the United States in 1933. When FDR(Franklin Delano Roosevelt) and Congress took all the property and gold from the people in 1933 they had to give something in return for that confiscation of property. Legal tender, a related concept but one that is economically inferior to lawful money because it allows payment in instruments that cannot be redeemed for gold or silver on demand has been the form of money of exchange commonly used in the United States since 1933, when domestic private gold transactions were suspended ( until 1974). Basically, legal tender is whatever the government says it is. The most common form of legal tender today is Federal Reserve Notes, which by law cannot be redeemed for gold since 1934 or, since 1967, for silver. See, 31 U.S.C. Sections 5103, 5118 (b), and 5119 (a).
What the people got in return was the promise that all of their needs would be met by the government because the assets and the labor of the people were collateral for the debt of the United States in the bankruptcy. All of their debts would be “discharged”. This was done without the consent of the people of America and was an act of Treason by President Franklin Delano Roosevelt. The problem comes in where they never told us how we could accomplish that discharge and have what we were entitled to after the bankruptcy. Why has this never been taught in the schools in this country? Could it be that it would expose the biggest fraud in the history of this entire country and in the world? If the public is purposely not educated about certain things then certain individuals and entities can take full financial advantage of virtually the entire population. Isn’t this “selective education” more like “indoctrination”? Could this be what has happened? In Fina Supply, Inc. v. Abilene Nat. Bank, 726 S.W.2d 537, 1987 it says “Party having superior knowledge who takes advantage of another's ignorance of the law to deceive him by studied concealment or misrepresentation can be held responsible for that conduct.” Does this mean that if there are people with superior knowledge as a party in this “Loan Transaction” that take advantage of the “ignorance of the law”, (through indoctrination) of the public to unjustly enrich themselves, that they can be held responsible? Can they be held responsible in only a civil manner or is there a more serious accountability that falls into the category of criminal conduct?
It is well established law that Fraud vitiates (makes void) any contract that arises from it. Does this mean that this intentional “lack of disclosure” of the true nature of the contract we have entered into is Fraud and would make the mortgage contract void on its face? Could it be that the Fraud could actually be “studied concealment or misrepresentation” that makes those involved in the act responsible and accountable? What happens to the “Note” once it is deposited in the bank and is converted to “money”? Are there different kinds of money? There is money of exchange and money of account. They are two very different things. See, David H. Friedman, MONEY AND BANKING (4th ed. 1984): “ The commercial bank lending process is similar to that of a thrift in that the receipt of cash from depositors increases both its assets and its deposit liabilities, which enables it to make additional loans and investments. . . When a commercial bank makes a business loan, it accepts as an asset the borrower’s debt obligation ( the promise to repay) and creates a liability on its books in the form of a demand deposit in the amount of the loan”. Therefore, the bank’s original bookkeeping entry should show an increase in the amount of the asset credited on the asset side of its books and a corresponding increase equal to the value of the asset on the liability side of its books. This would show that the bank received the customer’s signed promise to repay as an asset, thus monetizing the customer’s signature and creating on its books a liability in the form of a demand deposit or other liability of the bank.
The definition of “money” according to the Uniform Commercial Code: "Money" means a medium of exchange authorized or adopted by a domestic or foreign government and includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more nations. Money can actually be in different forms other than what we are accustomed to thinking. When you sign your name on a promissory note it becomes money whether you are talking a mortgage note or a credit card application! Did the bankers ever “disclose” this to us? Were we ever taught anything about this in the school system in this country? Could it be that this whole idea of being able to convert our signature to money is a “studied concealment” or “misrepresentation” where those involved become responsible if we are harmed by their actions? What happens if you have signed a “Mortgage Note” and already paid for your home and they come at a later date and foreclose and take it from you? Would you consider yourself to be harmed in any way? We will bring this up again very shortly but we need to look at the other document that is signed at the “closing” that is of great significance.

THE “DEED OF TRUST” ALSO KNOWN AS THE “MORTGAGE”

Why do we need a Deed of Trust or Mortgage? What exactly IS a Deed of Trust, Mortgage or other similar “Security Instrument”? It spells out all the details of the contract that you are signing at the “closing”, including such things as insurance requirements, preservation and maintenance and all of the financial details of how, when, where and why you are going to make payments to the “lender” for years and years. Wait a minute!!!!! Make payments to the “lender”???? Why do you have to make payments to the “lender”??? Didn’t we just establish the fact that your house was paid for by YOU, with your “Mortgage Note” that is converted to money by THE BANK DEPOSITING IT? Is there something wrong with this picture? We have just paid for our “home” but now we are told we have to sign a Deed of Trust, Mortgage or similar “Security Instrument” that binds us to pay the “lender” back? Pay the “lender” back for what? Did they loan us any money? Remember the part about banks not being able to loan “their or their depositors money” under FEDERAL LAW? What about: “In the federal courts, it is well established that a national bank has no power to lend its credit to another by becoming surety, indorser, or guarantor for him.” Farmers and Miners Bank v. Bluefield Nat ‘l Bank, 11 F 2d 83, 271 U.S. 669; “A national bank has no power to lend its credit to any person or corporation.” Bowen v. Needles Nat. Bank, 94 F 925, 36 CCA 553, certiorari denied in 20 S.Ct 1024, 176 US 682, 44 LED 637?
What is happening here with this “Deed of Trust”, “Mortgage” or similar “Security Instrument” that says we have to pay all this money back and if we don’t, they can foreclose and take our home? Why do we have to have this kind of agreement when we have already paid for our home through our “Mortgage Note” which was converted to money BY THE BANK? Could this possibly be another example of “studied concealment or misrepresentation” where those involved could be held accountable for their conduct? What happens to this Deed of Trust, Mortgage or similar “Security Instrument” after we sign it? Where does it go? Does it go into the vault for safekeeping like we might think?

WHO ARE THE OTHER PARTIES?

We have already found out that the “Note” doesn’t go into the vault for safe keeping but instead is deposited into an account at the bank and becomes money. Where does the Note go then? This is where things get VERY interesting because your “Mortgage Note” is then used to access your Treasury Account (that you know nothing about) and get credit in the amount of your “Mortgage Note” from your “Prepaid Treasury Account”. If they process the “Note” and get paid for it then they have received the funds from YOUR account at Treasury to pay for YOUR home correct? They then turn around and bundle the “Note” and sell it to investors on Wall Street and get paid again! Now let’s see what happens to the “Deed of Trust”, “Mortgage” or similar “Security Instrument” after you have signed it. You may be quite surprised to know that not only does it not go into “safekeeping” it is immediately SOLD as an INVESTMENT SECURITY to one of any number of investors tied to Wall Street. There is a ready, and waiting, market for all of the “mortgage paper” that is produced by the banks. What happens is the “Deed of Trust”, “Mortgage” or other similar “Security Instrument” is bundled and SOLD to a buyer and the BANK GETS PAID FOR THE VALUE OF THE MORTGAGE AGAIN!! Haven’t the bankers just transferred any risk on that mortgage to someone else and they have their money? That is a pretty slick way of doing things! They ALWAYS get their money right away and everyone else connected to the transaction has the liabilities! Is there something wrong with THIS picture? How can it possibly be that the bank has now been paid three times in the amount of your “purported” mortgage? How is it that you still have to pay years and years on this “purported” loan? Was any of this disclosed to you before you signed the “Deed of Trust”, “Mortgage” or other similar “Security Instrument”? Would you have signed ANY of those documents including the “Mortgage Note” if you knew that this is what was actually happening? Do you think there were any “copies” of the “Mortgage Note” and “Deed of Trust”, “Mortgage” or other similar “Security Instrument” made during this process? Are those “copies” just for the records to be put in a file somewhere or is there another purpose for them?

CAN REPRODUCING A NOTE OR DEED OF TRUST BE ILLEGAL?

We have already established that the “Mortgage Note” and the “Deed of Trust” or other similar “Security Instrument” are “Securities” by definition under the law. Securities are regulated by the Securities and Exchange Commission which is an agency of the Federal Government. There are very strict regulations about what can and cannot be done with “Securities”. There are very strict regulations that apply to the reproduction or “copying” of “Securities”:

The Counterfeit Detection Act of 1992, Public Law 102-550, in Section 411 of Title 31 of the Code of Federal Regulations, permits color illustrations of U.S. currency provided:

The illustration is of a size less than three-fourths or more than one and one-half, in linear dimension, of each part of the item illustrated
The illustration is one-sided
All negatives, plates, positives, digitized storage medium, graphic files, magnetic medium, optical storage devices, and any other thing used in the making of the illustration that contain an image of the illustration or any part thereof are destroyed and/or deleted or erased after their final use.


Other Obligations and Securities

Photographic or other likenesses of other United States obligations and securities and foreign currencies are permissible for any non-fraudulent purpose, provided the items are reproduced in black and white and are