Just more fiat money!
Before you let the banksters take your house ask them this!
1. Were you told that the Federal Reserve Bank Policies and Procedures as well as the Generally Accepted Accounting Principles (GAAP) requirements imposed upon all Federally-insured (FDIC) banks in Title 12 of the United States Code, Section 1831(a), prohibit banks from lending their own money from their own assets or from other depositors? Did the bank tell you where the funds for the loan were to come from?
2. Were you told that the contract you signed, the promissory note, was going to be converted into a 'negotiable instrument' by the bank and become an asset on the bank's accounting books? Did the bank tell you that your signature on that note, makes it 'money', according to the Uniform Commercial Code (UCC), sections 1-201(24) and 3-104?
3. Were you told that your promissory note would be taken, recorded as an asset of the bank, and then sold by the bank for cash, without "valuable consideration" given to obtain your note? Did the bank give you a deposit slip as a receipt for the promissory note you gave them, just as the bank would normally have to provide when you make a deposit to the bank?
4. Were you told that the bank would create a new account at the bank that would contain this money that you gave them?
5. Were you told that a check from this new account would be issued with your signature, without your knowledge, and that this new account would be the source of the funds behind the check that was given to you as a "loan"?
If you answered "No" to any of these questions, YOU HAVE BEEN CHEATED! How does that make you feel? It is now up to you to demand your deposit back and to challenge the validity of this bank loan Agreement. Since the banks and other lending institutions cannot allow "full disclosure" of your loan Agreement and cannot answer your challenges about it, their silence is the key, along with other necessary steps that can be learned by you, to get your deposit back and/or "payoff" their alleged loan to you.
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