The mortgage is one of the biggest financial commitments a person can make during their lifetime. Many people spend years saving up for their first deposit, paying back their credit cards every month religiously to ensure your “credit score” remains good and putting not heir best suit as they walk into the bank for their first chat with their mortgage advisor.
How kind of the banks to offer such a service to the public to help them on their way and lend such a large amount of money? And this is exactly what I thought until you realise that, what appears to be an act of generosity is actually a very lucrative no-risk deal for the bank, who immediately make “profit” on the mortgage “agreement” as soon as you put pen to paper, and well before you have been able to crack open the champagne to celebrate buying your first home.
“The love of money is the root of all evil” and this is ultimately the underlying cause of the greatest banking scam of all time.
Firstly, you may be surprised to learn that the Bank Of England despite the appearance that they are in control of the countries wealth, do not actually keep a track of the actual amount of money in circulation – Why not?
Well, thats because they don’t actually control the supply, or the issuance of new money into the market. This is controlled by the private banks, and as nobody is monitoring it, it gives the private banks carte blanche to do anything they like, which will obviously result in fraud providing it benefits them.
Have you ever wondered why the Bank of England, working with the Treasury for example, cannot issue its own “debt free” and “interest free” money based on the common wealth of Great Britain? Why do we have to go to the private and international banks who simply create money out of thin air and then charge high rates of interest which is currently costing the taxpayer £125 million a day, or £44 billion a year just to meet?
MP Tim Farron gave this remarkable reply; “I don’t really understand these things”. Well I well do – we’re being ripped of by the House of Rothschild and their unlawful network of central banks. It’s all a scam”
When money is deposited in to a bank let’s say £100, the bank sets aside 10% of it as reserves. The remaining £90 can now be lent out. What happens from here is “money creation”. When this £90 gets lent out, the person who is borrowing it signs an agreement to promise to repay the debt. This promise then becomes an asset for the bank. So the £90 that hasn’t been repaid yet can be written down as being an asset so it can then be used to create more money. Again 10% is set aside as reserves (£9), which leaves £81 to be lent out. Then again the promise to repay this £81 becomes an asset which can be used and so on. So, effectively when you take out a loan not only are you paying the bank back twice, but you are then asked to pay interest on top of the money you created when you signed the agreement. Sound like a fair deal to you?
This concept is very important to understand because it means that every note and coin you own is actually a debt that somebody owes to somebody else. Without debt there is no money.
In layman terms, imagine you asked me to lend you £100 and I said, ok but you give me your watch which is worth £100, I will then sell your watch and give you £100? Would you accept this deal? This is what the banks are doing on a daily basis and as soon as they say they are lending you money is when it become a fraudulent matter. This fraudulent money creation is the basis of our economic system.
The governor of the Bank Of England Mervyn King has gone on record to say; “Of all the many ways of organising banking, the worst is the one we have today” . When he states “the worst” to clarify, this is the worst system for you and me, but coincidentally the most profitable system for the banks and as the Government systematically allow this system to continue, where do the Governments interest lie? In the people or the banks?… I think that is pretty obvious.
If you have a mortgage, and are reading this, call up your bank and ask to see the original agreement that you signed. You will find that it has been “lost” or there will be so excuse as to why they cannot provide it when we now know it has been sold. Another great question to ask anyone at the bank is “Have you lent me money or have you facilitated credit?” If it is the latter, ask them under what grounds they are entitled to charge interest, and again, cue a very long silence.
Here is a video from The Bank Of England’s own website which confirms that commercial banks create their own money;
We are not suggesting that you should not repay a “loan”, in-fact if people didn’t the system would collapse and the only victims would be you and me again with another inevitable tax payer bail out. Where I have an issue is the fraudulent nature in which people who take out loans and mortgages are not being given full disclosure on the matter, and thousands of people being evicted from their homes for being unable to keep up with increased interest payments on money which they created, then having their assets sold off at vastly reduced rates so the banks can make an easy profit is something I cannot accept, and will not accept.
The banks are becoming more and more arrogant, but as they are protected by he Government, it will be many years before this issue is dealt with in a proper court of law. If you thought the PPI scandal was bad, this is on a whole new scale and will amount to trillions of pounds in compensation and the immediate collapse of the banking system, which again us honest tax paying mugs will be forced to pick up the pieces.