Thursday, April 28, 2011

The Ponzigonifs!

Dr. A. H. Krieg

I have railed for eons about the banksters and their evil usury. The time has come to expose the worst of their practices to allow yourself the ability to protect your and your family’s income. Aside the fact that the Obama administration has so convoluted our economy that middle class income is being confiscated and our children’s income is stolen before they even graduate HS, all just to further the interests and gargantuan profits of Wall Street. Remember that all the bailouts went to only two places; public service labor unions in the form of confiscated union dues and the banksters. This government income came via the IRS the collection agency for the Federal Reserve System. Just and by the way, the IRS total expenses for 2010 were $ 16 billion, the cost of filing returns by Americans consumed $338 billions, compiling a massive 7.6 billion hours of labor to comply with the often intelligible codes, total cost per American citizen, before one cent is spent for this travesty, is $1000 per living American.

Mortgages are large income producers of the Ponzigonifs; an understanding of the mortgage industry is a must before you make the error of participating in this folly. Mortgages are by all issuers separated into two differing re-payment schemes. These are called Principal and Interest. This process of separating re-payment comes from the system called Fractional Reserve Banking. (This process is illegal Biblically as well as in the Qur’an) Bankers employ many statisticians and actuaries whose job it is to make assumptions based on past history in order to maximize usury i.e. the Ponzigoniff’s profit margins. From these people they have learned that the average homeowner will stay in the home they either build or purchase for a term of 15 years. This statistical information is then used to establish a system of re-payment by the mortgager that allows the bank to legally falsify the interest charged to the buyer. They use a process called Front End Loading to accomplish that goal. In very simple terms what they do is to offer the buyer an interst rate of say 5% which might seem ok, however by separating the principal and interest and front loading most of the interest into the first half of the contract they deceive the buyer. They in fact do not change the amount of interest quoted. Either way they will make at least a 100% profit margin on any mortgage they issue. Let’s take the most common example a 30-year mortgage at 5%. 80% of the interest is payable in the first 15 years and 20% of the principal is collect in the same timeframe. So if you get a $100,000, 30-year mortgage and want out after 15 years simple interest would be $5,000. But 80% is collected in the first 15 years so the actual interest charged is not 5% but $8,200 or 8.2%. But that’s not compounded interest. Compounding is usury through the use of fractional reserve banking in which the actual payments are always compounded in favor of the banks, more or less tippling the total amount, meaning that in actual terms you will pay about 16% interest on a 5% loan.

Now, many people are under the impression that because their home value is upside down, or because they are unable to pay the mortgage to the bank, that they can walk away from the property and leave the bank to solve the ensuing finacial problems. This is in fact a very serious mistake.

The Ponzigonifs would have you believe that foreclosures are the bane of their existence and that they are losing their proverbial shirts in the process. Nothing could be further from the truth. If in fact this were the case, most foreclosures would see a reached accommodation between homeowner and the organization holding the paper. We know from history that this is not the case. The actual successful loan modifications reached is less than ten percent of the foreclosure business. Per example let’s take a house with a $350K open mortgage. The house in this horrible market has fallen in value to $280K and the outstanding mortgage totals $310K. Who actually owns the paper is often undetermined.
So, my first advice upon getting a foreclosure notice is; send a registered letter return receipt requested that is notarized of which you have a notarized copy, to the agency that has issued the foreclosure notice. The letter will be a demand notice to produce within 30 days, of your dated letter, the original loan documents signed and executed by you. In most cases the loan holder will be unable to produce that documentation, which is cause for dismissal of the claim in any court of law. They will have to start allover and may not be able to comply with the request because the original documents have been sold and resold scores of times and may be very difficult to find. This should give you some breathing room, and may allow you to re-negotiate the entire mortgage on a new basis.

It is wise to remember that the bank holding your paper will upon taking possession of your property do a number of things that only banks are allowed to do. First they will transfer the property into a distressed property portfolio. They will likely set up a separate corporation to hold all their distressed properties, bundling them. They will carry the asset value of your property at whatever the asset value was on the date your mortgage closed in their bundled account, entering that value on their books. They will then sell that asset most likely to Fannie or Freddie at the inflated false value. They have therefore written off any loss and sold it to the government that is now holding trillions of dollars in worthless paper.

But don’t think you’re off the hook. The circumstance is irrelevant, short sale, foreclosure, walk away, they will get you! They have five years from date of execution, they will send you a 1099A, filing it within five years of delivery in court, which when executed will force you to re-pay the entire outstanding amount. Worse yet, they can with this filing garnish your income, payroll, social security, pension, IRA or 401K, and they will. Your only option will be filing for bankruptcy, or only working for cash the rest of your natural life, which is another bad thing to do. There is an out. You can purchase a Swiss Annuity insurance counteract with your IRA or 401K Swiss law does not allow the garnishing of pensions or annuities.

In any event the bank will be made whole and the buyer gets screwed. The problems are the result of government and Ponzigoniff actions completely out of the buyer’s preview. The Ponzigoniff’s own the government because they are the largest cash contributors to political campaigns and thus the government protects their fund source to the hilt.

The reason why the home-selling market is so poor is that buyers who in many cases are developers will not purchase a home until the foreclosure has gone through. In the Florida commercial market about 90% of current sales are foreclosures. The bank having first written off the entire amount through transferring it to a bundled bunch of mortgages selling it to the government, getting a tax write off, will then gladly proceed against you and sell the property to any developer for 30 cents on the dollar. The object of this horror tale is that Ponzigonifs never lose!

The Wachovia case is of particular interest. Wachovia laundered $378.4 billion in cash for the Mexican drug cartels. The assumed profit is about $ 7 billion. The case came to Miami federal court in 2010. Proceedings were secret. Wachovia was fined $50 million by the Fed. They made a profit of $6.5 billion dollars from 2004 to 2009 in these transactions. No further charges have been filed. Ponzigonifs are immune from the law, Constitution and Bill of Rights, because they are too big to be allowed to fail!

Dr. Krieg’s new book available next month is Rendezvous with the New World Order, from all booksellers.


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