The Bankers Manifesto of 1892
Revealed by US Congressman Charles A. Lindbergh, SR from Minnesota before the US Congress sometime during his term of office between the years of 1907 and 1917 to warn the citizens.
"We (bankers) must proceed with caution and guard every move made, for the lower order of people are already showing signs of restless commotion.
Prudence will therefore show a policy of apparently yielding to the popular will until our plans are so far consummated that we can declare our designs without fear of any organized resistance.
The Farmers Alliance and Knights of Labor organizations in the United States should be carefully watched by our trusted men, and we must take immediate steps to control these organizations in our interest or disrupt them.
At the coming Omaha Convention to be held July 4th (1892), our men must attend and direct its movement, or else there will be set on foot such antagonism to our designs as may require force to overcome.
This at the present time would be premature.
We are not yet ready for such a crisis.
Capital must protect itself in every possible manner through combination (conspiracy) and legislation.
The courts must be called to our aid, debts must be collected, bonds and mortgages foreclosed as rapidly as possible.
When through the process of the law, the common people have lost their homes, they will be more tractable and easily governed through the influence of the strong arm of the government applied to a central power of imperial wealth under the control of the leading financiers.
People without homes will not quarrel with their leaders.
History repeats itself in regular cycles.
This truth is well known among our principal men who are engaged in forming an imperialism of the world.
While they are doing this, the people must be kept in a state of political antagonism.
The question of tariff reform must be urged through the organization known as the Democratic Party, and the question of protection with the reciprocity must be forced to view through the Republican Party.
By thus dividing voters, we can get them to expand their energies in fighting over questions of no importance to us, except as teachers to the common herd.
Thus, by discrete action, we can secure all that has been so generously planned and successfully accomplished."
TWO FACES OF A LOAN TRANSACTION
The Transaction Between YOU and the Alleged "LENDER".
You apply to a Bank or Mortgage Company for a loan to buy or refinance a house or piece of property.
They cannot loan you their own assets, other depositors fund or their own credit.
They need your signed application and Promissory Note.
The bank or mortgage company you applied to, is known as the "lender".
If the loan is to be secured by real property the lender is also known as the "originator" of the mortgage that secures the loan.
The bank or mortgage company either sells or hypothecates your Note before you sign the final papers relative to the loan.
In essence they are receiving the proceeds of the sale or hypothecation of your Note before they purchase or accept your note as a "loan to themselves".
The bank or mortgage company risked none of their own assets in the so-called loan to you.
Rather, they used your note to pay the seller, used your note to raise an asset to
themselves and used the face value of your note as something called "principle" which they say they loaned you and against which theycharge interest.
Consideration on the part of the lender is non-existentand the note was obtained by FRAUD.
The Transaction Between Your Lender and the Bank
So, the Bank or Mortgage Company, after getting your signed application and Note then applies to another institutional lender (bank) for a loan in exchange for your note.
The institutional lender will acquire a security interest in the note the bank or mortgage company obtained from you, on the promise of the exchange for a loan.
To perfect that security interest, they must either take constructive possession of the note orfile a UCC-1 Financing Statement to give notice to other creditors that there is a security interest being held against the note.
The security interest may also reach to the mortgage.
The institutional lender may contract with the originator of the note to be the servicer of the note and transfer the note to a mortgage pool to be used as collateral to underwrite the solicitation of investors in mortgage-backed securities.
The bank or mortgage company, the debtor in their transaction with the
institutional lender and you are the lender /span>in your transactionwith the bank or mortgage company.
The institutional lender cannot perfect a security interest in an underlying transaction that was absent consideration and was a FRAUD.
Consideration is essentialto an enforceable contract, and to the perfection of a Security Interest.