Tuesday, 31 May 2016

Thought 228: Mort-Gage as Phoney Contract

The word mortgage is French in origin and simply means death-pledge

Mortgage contracts belong to some of the most phoney contracts in existence because on the one hand the bank does not in fact hold the money it puts into your account to buy the house (it simply summons it out of thin air in order to indebt you and has the gall to charge interest on this non-existent money) and second you do not actually yet own the house to be able to use it as collateral in case of default.

Banks essentially have the legally granted power to create debt at will which is to say, to enslave, and thereby reap up real wealth, i.e. goods, in case of default and only in exchange for fake wealth which is what money is in the first place (see Money and Goods).