In a time of universal deceit

In a time of universal deceit, telling the truth is a revolutionary Act! -George Orwell

For Truth Org.
Banking Truth

What is Truth? Truth is that which exposes a lie. - Victor: Beck (2006)

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Answer to Quiz:

The Bank.

It is the bank that makes the most money. The bank who contributes absolutely nothing, makes the most money on the building and sale of a house.

The individual who supplied the materials receives $60,000 and makes whatever profit after expenses.

The individual who supplies the labour receives $40,000 and makes whatever profit after expenses.

The bank takes your signed loan agreement, creates a bill of exchange, which now makes your signed loan agreement a valuable instrument. The bank can now create funds (which are I.O.Us) out of nothing (out of thin air) using your signed loan agreement (future labour/promise to pay) as collateral, plus they will also use your new home as additional collateral that they can foreclose on if you miss payments. They will also add interest that doesn't exist (since it is never printed/brought into being) on the assumed loan.

How much does the bank make?
Well for simplicity lets say the total loan applied for is $100,000 and lets say an unchanging interest rate of 7% compounded annually amortized over 25 years. And a monthly payment of $700.00 (unchanging) At the end of 25 years they will have paid to the bank $212,000 that's more than double what they believe they borrowed. Now some will argue that there is the "time value" of money well not on this money because this money money doesn't exist except as ink in a ledger, and on a balance sheet. Now that figure does not take into consideration any bank fee's, or settlement fees, or fees for removing liens off the land titles records.

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