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Originally Posted by macerico
Frankly, you handled the whole situation wrong.
The fact is this is how banks operate when they do any loan.
1. They open an account IN YOUR NAME.
No, they open a loan balance account
2. They claim a DEPOSIT, IN YOUR NAME, of the amount of the proposed loan.
Sure they do.
3. They cut you a check (if needed) based on the deposit they just made to their asset ledger.
They cut you a check from the cash on hand account that they debit.
In plain English, THEY LEND YOU YOUR OWN MONEY.
In plain English they lend you the bank’s money. This oater was old and tired twenty years ago and has been long ago debunked.
This is how all loans are voidable. The bank commits fraud, and induces you do to likewise, by creating a deposit out of nothing then letting you buy stuff with "nothing." The amount of paper currency in circulation is a tiny fraction of all the "dollars" actually in "existence."
Yep, and the mood is made of green cheese. This is called nonsense. The only vapor here is between the ears of the proponents of this nonsense.
The trick, and I don't have the specifics handy, for getting this stuff voided out is to never argue the contract. The key is to demand proof of WHERE DID THE "MONEY" COME FROM. The banks/creditors lose every single time when it becomes an examination of where they got the "money" to lend you. That's why they want to argue "contract." If you admit you entered a contract, you're screwed.
The trick here, is that this is a trick, and when you get done, no matter what magic words you say or papers you manufacture nothing will have changed. The loan will still be valid and enforceable. This whole line is a crock, and since there is no case where this has ever happend, it must really work well. The trick is, that you don’t have to argue contract, it exists, and you can’t get out of it short of defaulting, and then you lose everyting.
When you examine where the money comes from, it is an act of fraud (by the bank) to create something that didn't exist then allow people to get real things by doing that.
It doesn’t matter where the money comes from, this scam has been tried and it loses every time, for the simple reason that it doesn’t matter and is irrelevant to the validity of the loan.
The simple illustration is this. You must risk to be eligible to receive repayment.
Pigs might also fly, but you will never live to see it.
If I can make $100 appear out of thin air, then I don't deserve to be repaid because I risked nothing in snapping my fingers and giving you $100.
Nonsense.
If I took $100 of MY MONEY out of MY POCKET and gave it to you, that's a different matter because I put at risk my assets.
Sure it is.
The bank NEVER lends ITS MONEY....they always lend you YOUR MONEY, created from NOTHING and then demand repayment of what was yours in the first place.
More nonsense, that has repeatedly been debunked in court and reality.
There is an involved, but effective process to call them on their act of fraud, and the fear of exposure will make them relinquish the debt. They know they will not win if the fraud is exposed in a court of law, and there is already too many situations where they have lost to risk even more case law against them.
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