Shattering the delusions & Busting Banking Myths - (www.BenLowrey.com)

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[MrDesCarty]

"Create" real money?  is this not an OxyMoronic statement?

[benlowreyhimself]

@MrDesCarty

no it's not an oxymoron i am referring to central bank notes as real money. Please don't debate me i understand exactly what i'm talking about. If you have a question I will answer you but i'm not going to discuss it or debate it.

[matthew3774]

Well as soon as the note is sold your obligation is discharged, since they no longer have the note to prove it.

[benlowreyhimself]

@matthew3774

having said that, if you ask them to prove it, and they don't then you could win anyway

[benlowreyhimself]

@matthew3774

Yes i do kind of agree. This is what George Tran teaches. Once the note has been pooled into a fund and securitized there is no longer one holder to step forth and request payment. I'll have to ponder this. But i'm not really sure why the bank cannot have the right to collect the payments on behalf of the fund.

[benlowreyhimself]

@matthew3774

but matt the new holder now has the right to be paid on the instrument.

[matthew3774]

@benlowreyhimself Im not claiming there's anything wrong with it, just pointing out that they don't have the note to prove your obligation to them. No contract

[Firewater3]

Well I posted a question or two, care to answer?

[padrina1]

You are wrong Ben, Fractional reserve lending could not exist if all loans were backed up by actual reserves. Simple economics Ben, I am surprised that you as a self proclaimed expert in the banking sector didn't consider this.

[Firewater3]

@benlowreyhimself Hi Ben

Dean Clifford clams that a lone agreement is a promissory note created by the signature of the borrower & that the Bank therefore has no risk, are you claiming this is wrong, if you are correct that would indicate also that Ceylon is incorrect in his theory's, will you be discussing your opinions of there errors with them?

Regards

FW

[benlowreyhimself]

@matthew3774

matt i think you are wrong. they can sell the debt. and they can still collect the payments on behalf of the new owner. that's what "servicing" is. the put it into a trust, then investors buy the shares. that's what securitiztion is. I don't see anything wrong with it.