Money Secrets: Banks Donāt Lend Money
"If you asked the average person what happens when you get a loan from a bank, theyād tell you that the bank lends you some money. You have to pay that back plus the interest the bank charges you. Thatās kind of like the āfeeā for getting the loan. This all makes sense, right? Thatās what banks do, right? WRONG. What really happens is this: You give them a promissory note with your signature on it. A promissory note is a promise to pay. Thatās the document you sign. Sounds good so far, right? Hereās where things take a turn: Once you sign that promissory note, the bank trades it with the Federal Reserve private bank. The Fed gets the note, and trades the bank Federal Reserve Notes (dollars) in return. Subscribe to Learn My Secrets Learn how I communicate to my audience via email, then convert subscribers into buyers via sales funnels - and most importantly how I create a business that loses thousands on the front-end and makes millions on the back-end. Enter Your Best Email Address... SUBSCRIBE NOW MONEY SECRETS Money SecretsA promise to pay gets traded for another promise to pay. Everyone gets something of equal value in that trade. So the trade is equal. The transaction is complete. In the system I worked out to remove my debt, I send letters to validate the debt. Remember that word āvalidate.ā Itās important. Itās not verify, itās validate. That has a special meaning and it requires the ālenderā to do certain things. So the letter goes out to make sure the accounts are in order. Iām an accountant remember? Thatās what we do. We make sure the accounts are in order. When you send the first letter, you also ask them for the accounting records of this trade. The accounting records will show, legally, you gave them a promissory note and they gave you Federal Reserve notes. There was a debit entry into the accounting. There was a credit entry into the accounting. They cancelled each other out, debit for credit, credit for debit. This is accounting 101. The transaction was complete when the notes were traded. You do not owe them a penny. Their accounting records prove it. In the letters, Iām asking for proof that I owe them anything. In order to supply that proof, they need the wet ink signature contract, or a copy of the contract that is affidavited (a human signs it/notarizes it etc.) All Iām asking for is that proof. The problem is they canāt supply the proof. They donāt have the proof. They got rid of the proof when they traded the note. The Big Bank Lies The bank was made whole when they traded the note with the Federal Reserve. And then they come after you to get that loan back that never existed. Attempting to collect a debt thatās not valid, puts them in fraud. People pay because they donāt know the truth. Banks donāt lend money. But ālendersā will pay you. The law says, the fine for breaking the FDCPA (Fair Debt Collection Practices Act) is between $100 and $1,000 dollars. So you can get the debt removed and actually walk away with the ālenderā paying YOU. This blows the mind of most people whoāve been brainwashed their whole lives that this whole game is anything but a pile of smoke and mirrors to turn humans into slaves. So there you have it. Weāll continue down this rabbit hole next time. Peace, Jack McCaig"