Re: Squat in Your Own Home Movement

I think there is also good side to this housing mortgage crisis thing. It is going to help get us people to more understand the workings of the credit/debt system of commerce that we are all operating within.




I think the reason why these lenders are having trouble coming up with the promissory notes is because of the fraud that is involved with the system. The promissory notes are bundled together and sold on the bond market. Banks use those signed promissory notes so they can extend their own lending ability 100 fold.

It all has to do with what happened before we were all born. Since 1933, with the passage of House Joint Resolution 192, Congress suspended the "Payment" of debt in Law by suspending the fixed gold standard. You cannot "Pay" your debts in Law. All you can do is "discharge" your debt in equity.


http://www.consumerwarningnetwork.com/2008/04/04/fight-foreclosure-make-em-pr...

The only thing of any real value is the labor of the people. So in essence it really is the the individual that signs the promissory note that is the lender. The bankers are really the borrowers, they are borrowing off the signature and the promise to pay of all those signing promissory notes to buy property.