ROL_2009-08-03_16k.timecode

[00:00.000 --> 00:05.680]  This news brief brought to you by the International News Net.
[00:05.680 --> 00:11.480]  Honduran President Manuel Zelaya has vowed to end his month-long exile by staging a dramatic
[00:11.480 --> 00:13.680]  border crossing from Nicaragua.
[00:13.680 --> 00:19.000]  Zelaya was ushered out of the country by the Honduran military on June 28th.
[00:19.000 --> 00:24.280]  The Washington Post says the health care industry is spreading rumors that 77 percent of Americans
[00:24.280 --> 00:27.480]  are satisfied with their existing health insurance coverage.
[00:27.480 --> 00:34.280]  However, a New York Times, CBS News survey found 72 percent of Americans favor a public
[00:34.280 --> 00:35.960]  plan.
[00:35.960 --> 00:41.720]  Russian and Chinese military forces are taking part in a five-day exercise in China aimed
[00:41.720 --> 00:46.600]  at quelling terrorists who have captured a city and provoked massive riots.
[00:46.600 --> 00:51.040]  This news brief brought to you by the International News Net.
[00:51.040 --> 00:56.920]  Senate Democrats Wednesday narrowly defeated a Republican proposal to allow concealed weapons
[00:56.920 --> 00:59.360]  to be carried across state lines.
[00:59.360 --> 01:04.920]  The vote capped a furious effort by Majority Whip Dick Durbin and Senator Charles Schumer.
[01:04.920 --> 01:10.480]  Schumer, who led the effort to kill the amendment, said its defeat means, quote, lives have been
[01:10.480 --> 01:15.400]  saved, adding, the passage of this amendment would have done more to threaten the safety
[01:15.400 --> 01:20.640]  of New Yorkers than anything since the repeal of the assault weapons ban.
[01:20.640 --> 01:25.920]  The vote was a rare defeat for the National Rifle Association, which described the amendment
[01:25.920 --> 01:30.800]  as a way to push back against an increasingly hostile atmosphere for gun owners.
[01:30.800 --> 01:35.680]  A coalition of U.S. mayors, mayors against illegal guns, co-chaired by New York City
[01:35.680 --> 01:41.520]  Mayor Michael Bloomberg, lobbied senators far more intensely than in other recent gun
[01:41.520 --> 01:43.160]  votes in the Senate.
[01:43.160 --> 01:52.080]  Bloomberg called the amendment an intrusive and destructive bill.
[01:52.080 --> 01:57.360]  The American Academy of Environmental Medicine says genetically modified foods have not been
[01:57.360 --> 02:01.400]  properly tested and pose a serious health risk.
[02:01.400 --> 02:07.440]  Recently the AAEM called on physicians to educate their patients, the medical community
[02:07.440 --> 02:11.240]  and the public to avoid genetically modified foods.
[02:11.240 --> 02:17.240]  They called for a moratorium on GM foods, long-term independent studies and labeling.
[02:17.240 --> 02:24.180]  The AAEM said animal studies indicate serious health risks associated with GM food include
[02:24.180 --> 02:31.440]  infertility, immune problems, accelerated aging, insulin regulation and changes in major
[02:31.440 --> 02:34.920]  organs and the gastrointestinal system.
[02:34.920 --> 02:37.800]  More and more doctors are prescribing GM free diets.
[02:37.800 --> 02:44.200]  Dr. Amy Dean, a Michigan internal medicine specialist and board member of AAEM says,
[02:44.200 --> 03:01.160]  I strongly recommend patients eat strictly non-genetically modified foods.
[03:01.160 --> 03:04.800]  You feel tired when talking about important topics like money and politics?
[03:04.800 --> 03:09.080]  Are you confused by words like the Constitution or the Federal Reserve?
[03:09.080 --> 03:13.520]  If so, you may be diagnosed with the deadliest disease known today, stupidity.
[03:13.520 --> 03:18.840]  Hi, my name is Steve Holt and like millions of other Americans, I was diagnosed with stupidity
[03:18.840 --> 03:20.040]  at an early age.
[03:20.040 --> 03:24.020]  I had no idea that the number one cause of the disease is found in almost every home
[03:24.020 --> 03:26.120]  in America, the television.
[03:26.120 --> 03:31.160]  Unfortunately, that puts most Americans at risk of catching stupidity, but there is hope.
[03:31.160 --> 03:34.920]  The staff at Brave New Books have helped me and thousands of other Foxaholics suffering
[03:34.920 --> 03:37.240]  from sports zombieism recover.
[03:37.240 --> 03:41.460]  And because of Brave New Books, I now enjoy reading and watching educational documentaries
[03:41.460 --> 03:44.120]  without feeling tired or uninterested.
[03:44.120 --> 03:51.480]  So if you or anybody you know suffers from stupidity, then you need to call 512-480-2503
[03:51.480 --> 03:55.560]  or visit them in 1904 Guadalupe or bravenewbookstore.com.
[03:55.560 --> 03:58.960]  Side effects from using Brave New Books products may include discernment and enlarged vocabulary
[03:58.960 --> 04:00.800]  and an overall increase in mental functioning.
[04:00.800 --> 04:09.520]  You are listening to the Rule of Law Radio Network at ruleoflawradio.com, live free speech
[04:09.520 --> 04:11.520]  talk radio at its best.
[04:39.520 --> 04:47.380]  What are you going to do?
[04:47.380 --> 04:57.720]  What are you going to do when they come for you?
[04:57.720 --> 05:02.720]  Bad boys, bad boys, what are you going to do?
[05:02.720 --> 05:04.720]  What are you going to do when they come for you?
[05:04.720 --> 05:05.720]  When you were eight and you had bad traits, you go to school and learn the golden rules.
[05:05.720 --> 05:06.720]  So why are you acting like a bloody fool?
[05:06.720 --> 05:07.720]  If you get caught then you must get crewed.
[05:07.720 --> 05:08.720]  Bad boys, bad boys, what are you going to do?
[05:08.720 --> 05:09.720]  Bad boys, bad boys, what are you going to do?
[05:09.720 --> 05:10.720]  Bad boys, bad boys, what are you going to do?
[05:10.720 --> 05:11.720]  When they come for you.
[05:11.720 --> 05:12.720]  What are you going to do when they come for you?
[05:12.720 --> 05:14.440]  Chug it on that one, you chug it on this one.
[05:14.440 --> 05:21.720]  You chug it on your mother and you chug it on your father.
[05:21.720 --> 05:26.700]  You chug it on your brother and you chug it on your singer.
[05:26.700 --> 05:29.700]  You chug it on that one and you chug it on me.
[05:29.700 --> 05:33.700]  You bad boys, bad boys, what are you going to do when they come for you?
[05:33.700 --> 05:41.500]  Bad boys, bad boys, what are you going to do when we come for you and we are coming for
[05:41.500 --> 05:42.500]  you?
[05:42.500 --> 05:47.580]  Randy Kelton, Deborah Stevens, and Eddie Craig.
[05:47.580 --> 05:52.180]  And tonight we have two very special guests, but before we go to our guests, we have a
[05:52.180 --> 05:55.660]  very special announcement to make.
[05:55.660 --> 06:00.540]  We are ironing out the details for the seminar.
[06:00.540 --> 06:04.180]  It's going to be a humdinger.
[06:04.180 --> 06:07.740]  We've pretty much decided the strategy, how we're going to lay it all out.
[06:07.740 --> 06:08.740]  It's a two-day seminar.
[06:08.740 --> 06:12.300]  We're going to do it at Brave New Books.
[06:12.300 --> 06:19.380]  And with the seminar, day one is going to be Eddie presenting the traffic code and causes
[06:19.380 --> 06:24.780]  of action concerning the laws that they break, the types of criminal complaints.
[06:24.780 --> 06:26.600]  You can file what laws are broken.
[06:26.600 --> 06:33.300]  Day two, Randy and I are going to go over due process and grand jury functioning.
[06:33.300 --> 06:38.740]  And in addition to that, you get a copy of jurisdictionary.
[06:38.740 --> 06:43.740]  Now jurisdictionary is going to be a prerequisite for the seminar.
[06:43.740 --> 06:49.420]  So people who sign up ahead of time, you'll have time to go over it.
[06:49.420 --> 06:53.300]  And for people who may decide at the last minute they want to go to the seminar, then
[06:53.300 --> 06:56.820]  y'all can just go over jurisdictionary after the seminar.
[06:56.820 --> 07:03.300]  And the reason that we're doing that is because we want to come with a very hard-hitting package
[07:03.300 --> 07:11.120]  for you guys with some high-level strategies both in the civil arena and the criminal arena.
[07:11.120 --> 07:13.220]  And it would waste too much time.
[07:13.220 --> 07:19.540]  It would cost too much time to teach fundamental techniques that are in jurisdictionary that
[07:19.540 --> 07:24.780]  you guys and ladies out there are going to need to know in order to implement the strategies
[07:24.780 --> 07:29.980]  and the remedies and the solutions that we're going to be presenting in the seminar.
[07:29.980 --> 07:36.660]  So for those of you who already have jurisdictionary, you're going to get another copy and you can
[07:36.660 --> 07:42.060]  give it to someone very special that you think should have it.
[07:42.060 --> 07:45.420]  So here is the deal.
[07:45.420 --> 07:46.780]  It's going to be 400 bucks.
[07:46.780 --> 07:51.860]  I think that's a very reasonable and fair price considering what you guys are going
[07:51.860 --> 07:52.860]  to be getting.
[07:52.860 --> 07:55.740]  There's really no way we can cram all the information into one day.
[07:55.740 --> 08:00.700]  I mean, any stuff alone is going to take one day, it's going to take a whole day.
[08:00.700 --> 08:06.460]  And going over the strategies, the solutions and remedies is going to take a whole other
[08:06.460 --> 08:07.460]  day.
[08:07.460 --> 08:10.700]  So that's about the best that we can do.
[08:10.700 --> 08:12.340]  And I think it's very reasonable.
[08:12.340 --> 08:13.340]  So here's the deal.
[08:13.340 --> 08:20.620]  We're not going to schedule a date until we get 20 people committed, all right, 20 people
[08:20.620 --> 08:22.220]  who have prepaid.
[08:22.220 --> 08:27.980]  And once we get the 20 people, then we'll set the date and then, you know, it will be
[08:27.980 --> 08:29.620]  on after that for sure.
[08:29.620 --> 08:31.900]  And the enrollment is limited to 50 people.
[08:31.900 --> 08:34.780]  That's as many people as we can fit into the bookstore.
[08:34.780 --> 08:43.780]  So sign up early because, you know, it's going to fill up, and just by some crazy means,
[08:43.780 --> 08:50.260]  we don't get 20 people, the people who prepay in advance will get their money back minus
[08:50.260 --> 08:55.700]  a $25 service fee because of the time that Randy and I will have to spend processing
[08:55.700 --> 08:56.700]  everything.
[08:56.700 --> 08:57.780]  And I think that's reasonable too.
[08:57.780 --> 08:59.740]  So that's the deal with the seminar.
[08:59.740 --> 09:01.580]  We're very excited about it.
[09:01.580 --> 09:05.500]  So people, email us.
[09:05.500 --> 09:11.860]  At this point in time, I prefer a check if y'all are going to sign up and prepay.
[09:11.860 --> 09:15.300]  Please send a check and look at the instructions for how to send checks on the Rule of Law
[09:15.300 --> 09:19.700]  Radio website just because the PayPal fees will be exorbitant.
[09:19.700 --> 09:26.140]  So that being said, now we are going to go to our guests.
[09:26.140 --> 09:28.180]  And Randy, would you like to introduce our guests?
[09:28.180 --> 09:29.180]  Yes.
[09:29.180 --> 09:30.180]  We have two guests today.
[09:30.180 --> 09:36.060]  And the reason we have two is they have two different specialties concerning this mortgage
[09:36.060 --> 09:37.060]  crisis.
[09:37.060 --> 09:39.820]  Charla West, very special guest.
[09:39.820 --> 09:47.500]  She is a, was for 25 years executive vice president for a federal savings and loan.
[09:47.500 --> 09:49.700]  She wrote the loans.
[09:49.700 --> 09:51.580]  She knows how they're written.
[09:51.580 --> 09:55.220]  She knows what the laws are frontwards and backwards.
[09:55.220 --> 09:56.860]  And we also have Randy Raylor.
[09:56.860 --> 10:01.660]  A lot of you may have heard him on our show before.
[10:01.660 --> 10:07.500]  When he's not out chasing his dog up and down the street, he sells real estate.
[10:07.500 --> 10:12.100]  So he's very familiar with the other side of the table.
[10:12.100 --> 10:19.820]  And we're going to talk today about this real estate crisis, how we got here, but mostly
[10:19.820 --> 10:28.980]  what is wrong, and we'll be discussing some ideas for what people can do as a remedy to
[10:28.980 --> 10:29.980]  what is wrong.
[10:29.980 --> 10:38.620]  Charla, I'd like to bring you in first and just kind of introduce yourself and just kind
[10:38.620 --> 10:46.140]  of give us an overview of the situation concerning people with mortgages.
[10:46.140 --> 10:52.380]  And by the way, Charla does forensic analysis.
[10:52.380 --> 10:57.140]  She can take the mortgage that you have, you send her all the paperwork, and she can tell
[10:57.140 --> 11:01.780]  you everything the other side has done wrong.
[11:01.780 --> 11:09.580]  So without any further ado, Charla, will you kind of tell us who you are and give us an
[11:09.580 --> 11:20.460]  idea of what you can expect if you go over your mortgage closely?
[11:20.460 --> 11:21.460]  Hold on one second.
[11:21.460 --> 11:22.460]  Charla, are you there?
[11:22.460 --> 11:23.460]  Yes, I'm here.
[11:23.460 --> 11:24.460]  Okay.
[11:24.460 --> 11:25.460]  Go ahead.
[11:25.460 --> 11:26.460]  Okay.
[11:26.460 --> 11:27.460]  Thanks, Randy.
[11:27.460 --> 11:28.460]  That was a very nice introduction.
[11:28.460 --> 11:33.460]  I hope I can live up to those kind words.
[11:33.460 --> 11:42.500]  As Randy said, I was an executive vice president at a federal credit union for 25 years.
[11:42.500 --> 11:50.500]  I started doing real estate loans relatively young and went to several trainings, real
[11:50.500 --> 11:57.460]  estate law, business law, and just grew up in the industry doing real estate loans.
[11:57.460 --> 12:01.580]  I enjoyed it, and we made good loans.
[12:01.580 --> 12:08.940]  The industry has changed significantly since the 80s.
[12:08.940 --> 12:14.940]  At one time, and there probably are still several institutions where their staff has
[12:14.940 --> 12:20.620]  a lot of integrity, but what I have seen in looking at documents and watching the news
[12:20.620 --> 12:27.620]  and knowing people still in the financial world, what has happened and what I've seen,
[12:27.620 --> 12:32.020]  it's all about fees and funds.
[12:32.020 --> 12:37.340]  I mean, institutions are not on every corner from the fees they charge you from your checking
[12:37.340 --> 12:38.340]  account.
[12:38.340 --> 12:46.180]  They're making fees left and right in the real estate loans.
[12:46.180 --> 12:53.740]  They are doing it unbeknownst and incorrectly based on how the documents are gone up and
[12:53.740 --> 13:01.060]  the way they are really charted to be able to charge those fees.
[13:01.060 --> 13:07.940]  The loan documents that I have reviewed the last couple of weeks, there are documents
[13:07.940 --> 13:14.860]  that aren't signed, calculations are not correct, fees are being collected that are never disclosed
[13:14.860 --> 13:18.620]  to the borrowers that they're going to be collected.
[13:18.620 --> 13:25.660]  I mean, there's just at different levels, and it is extremely sloppy work.
[13:25.660 --> 13:34.260]  But what is bothersome is these people that are sitting across the desk from the underwriter
[13:34.260 --> 13:42.020]  or the loan officer at the institution, they value what that person says, because after
[13:42.020 --> 13:46.420]  all, they're supposed to be the educated one in the entire transaction.
[13:46.420 --> 13:54.100]  And what has happened is they have allowed borrowers to have funds for mortgages that
[13:54.100 --> 13:57.580]  they do not qualify for.
[13:57.580 --> 14:04.380]  And they put them in loans that were either 100% financing or interest-only payments for
[14:04.380 --> 14:12.620]  a certain period of time, and people have found themselves, when those have to be rewritten
[14:12.620 --> 14:18.620]  and then they really have to start repaying the loan, they can't afford the payment.
[14:18.620 --> 14:25.100]  And then, not to mention on top of that fact, that foreclosures are happening even to people
[14:25.100 --> 14:31.860]  that aren't delinquent, so the mortgage industry is in a mess.
[14:31.860 --> 14:39.180]  And so with the forensic analysis, I hope to be able to help people actually take the
[14:39.180 --> 14:46.220]  institutions to task, and to bring enough attention to the industry so that everyone
[14:46.220 --> 14:55.020]  knows what is wrong so that we can fix it, hopefully.
[14:55.020 --> 14:58.020]  That's wonderful, Sharla.
[14:58.020 --> 15:00.380]  Now let me ask you something, Sharla.
[15:00.380 --> 15:08.700]  You say about the fees, let me guess, when it comes to fees, they never err on the side
[15:08.700 --> 15:11.860]  of the customer, right?
[15:11.860 --> 15:15.420]  Oh, for sure, for sure.
[15:15.420 --> 15:20.260]  So wouldn't you, I mean, to me, that indicates that it's probably a little bit more going
[15:20.260 --> 15:25.980]  on here than just sloppy work, because if it was just sloppy work, the errors would
[15:25.980 --> 15:29.740]  statistically fall on either side, at least somewhere.
[15:29.740 --> 15:34.660]  Well, and that's true, and my definition of sloppy is just that.
[15:34.660 --> 15:40.340]  You know, you have incorrect disclosures, you have documents that are not signed, which,
[15:40.340 --> 15:45.340]  I mean, you know, I'm a stickler from the beginning to the end, there is a reason and
[15:45.340 --> 15:53.460]  a method to the madness, and the institutions have lost sight of the importance of everything
[15:53.460 --> 15:54.460]  being done correctly.
[15:54.460 --> 15:59.140]  But let's say, for example, you go in and you apply for a loan, and they're required
[15:59.140 --> 16:04.140]  within three days of the loan application to disclose to you an estimate of the fees,
[16:04.140 --> 16:09.340]  the costs that are going to be associated with that real estate transaction.
[16:09.340 --> 16:12.900]  And then you go, you know, through the application process, and you go to closing, and you get
[16:12.900 --> 16:20.780]  to the closing table, and people are charged, I have seen anywhere from, you know, double
[16:20.780 --> 16:27.420]  digits to six digits of a fee that they were never disclosed that it was going to be charged
[16:27.420 --> 16:28.420]  to them.
[16:28.420 --> 16:29.420]  Six digits?
[16:29.420 --> 16:35.060]  Oh my gosh.
[16:35.060 --> 16:41.100]  So you have them at the table after they've gone through months of preparation to get
[16:41.100 --> 16:47.860]  to the table, and all of a sudden you throw this fee at them that had you thrown it at
[16:47.860 --> 16:53.260]  them six months earlier or three months earlier, they would have had time to digest it and
[16:53.260 --> 16:56.180]  rail against it and do something to change it.
[16:56.180 --> 17:02.500]  But now that you've got them at the table, they're pretty well stuck unless they want
[17:02.500 --> 17:04.700]  to blow off the deal.
[17:04.700 --> 17:06.580]  Well exactly.
[17:06.580 --> 17:11.540]  And you know, after you've gone 30, 45, 60 days, however long it takes to get that application
[17:11.540 --> 17:16.820]  process to purchase the property, and we all know what happens when, you know, the new
[17:16.820 --> 17:22.460]  house or the new car bug bites us, we want that.
[17:22.460 --> 17:27.740]  And then we're sitting there and we're thinking, well, you know, we can squeeze this and it's
[17:27.740 --> 17:28.740]  okay.
[17:28.740 --> 17:29.740]  No, it isn't okay.
[17:29.740 --> 17:36.300]  The law is written like the law is written, and of course the people at the title company
[17:36.300 --> 17:42.020]  do not know that the disclosures were not done properly.
[17:42.020 --> 17:44.260]  That's not their job.
[17:44.260 --> 17:50.700]  That's the job of the loan officer at the bank, and it's not necessarily even the job
[17:50.700 --> 17:52.940]  of the real estate agent.
[17:52.940 --> 17:58.300]  Now they are required to do some disclosures along with the lender, but the lender is the
[17:58.300 --> 18:04.980]  responsible party to disclose that information and to make sure that that borrower understands
[18:04.980 --> 18:12.180]  everything and that they actually qualify for the house that they're purchasing.
[18:12.180 --> 18:13.180]  Yes.
[18:13.180 --> 18:21.220]  Yeah, I looked at a document you sent me today where there was a forensic analysis and they
[18:21.220 --> 18:27.700]  showed that he qualified for the loan, but when the forensic analysis was done, it showed
[18:27.700 --> 18:40.260]  that with the loan applied to all his other encumbrances, they equal to 107 percent of
[18:40.260 --> 18:41.260]  his income.
[18:41.260 --> 18:42.260]  Exactly.
[18:42.260 --> 18:46.900]  Well, Charlotte, in cases like that, what is the remedy?
[18:46.900 --> 18:52.140]  I mean, if you go back and correct the mortgage at that point to correct the payment scheduled
[18:52.140 --> 18:56.380]  and the person can't afford it, so what do we do?
[18:56.380 --> 18:59.780]  I don't know if I want to know.
[18:59.780 --> 19:09.020]  Well, most people, and I've always tried to explain it to someone like this, I may not
[19:09.020 --> 19:14.780]  tell you what you want to hear, but I'm going to tell you the truth.
[19:14.780 --> 19:21.420]  Let's try to put you in a home that in three, four, or five years that you've established
[19:21.420 --> 19:27.300]  enough equity, you've been able to pay for, you can continue to make your utility payments
[19:27.300 --> 19:31.300]  and your insurance and your property taxes, because we know all those costs are going
[19:31.300 --> 19:32.300]  to go up.
[19:32.300 --> 19:33.300]  It's just a given.
[19:33.300 --> 19:38.420]  Well, Charlotte, isn't there some way that we could go after the bank for fraud for having
[19:38.420 --> 19:40.260]  all these errors in the mortgage?
[19:40.260 --> 19:43.460]  Well, and that's... Yes, you can.
[19:43.460 --> 19:51.500]  The law allows... I mean, the laws are written and the disclosures are required for a reason.
[19:51.500 --> 19:58.300]  The lenders are not adhering to the law as it's written, and the borrowers are not taking
[19:58.300 --> 20:01.140]  them to task because they are not educated.
[20:01.140 --> 20:07.020]  They don't know how to go in and talk... Well, first of all, if you can even find someone
[20:07.020 --> 20:14.060]  at an institution to even really understand what you're talking to them about.
[20:14.060 --> 20:20.820]  I've even tried in my personal business talking to some of the larger banks, and I have to
[20:20.820 --> 20:27.700]  just get downright stern with several of them and say, you know, I appreciate the fact that
[20:27.700 --> 20:30.380]  you're trying to help me, but you're not what I'm saying.
[20:30.380 --> 20:35.780]  I need to talk to your supervisor, because the person on the front line, the customer
[20:35.780 --> 20:39.100]  service person, or whoever, they have no idea how to help you.
[20:39.100 --> 20:42.180]  They haven't been trained.
[20:42.180 --> 20:47.180]  So they're just doing what they've been instructed to do and have no clue?
[20:47.180 --> 20:50.220]  For the most part, but you know what?
[20:50.220 --> 20:54.460]  That's not my fault, and I'm not there to be taken advantage of because that person
[20:54.460 --> 20:57.660]  is not educated enough to do their job.
[20:57.660 --> 20:58.660]  Okay.
[20:58.660 --> 21:02.780]  When you say my fault, what context are you in?
[21:02.780 --> 21:04.780]  My fault is the customer.
[21:04.780 --> 21:05.780]  Okay.
[21:05.780 --> 21:06.780]  Right.
[21:06.780 --> 21:12.300]  It's no fault of the borrower, the customer, or whoever that the person that they go in
[21:12.300 --> 21:15.820]  seeking some guidance from can't help them.
[21:15.820 --> 21:22.740]  It's the blame of the institutions, but until people are educated and get some help in educating
[21:22.740 --> 21:30.620]  themselves on how to talk to the people at the bank, to get really past the fluff down
[21:30.620 --> 21:37.460]  to the decision makers that can help them either with the loan modification or rewriting
[21:37.460 --> 21:42.420]  the loan in some other manner or something, that nothing's going to change.
[21:42.420 --> 21:46.540]  I don't see how it's going to change.
[21:46.540 --> 21:56.740]  How do we give them reason or how do we influence them to change or motivation to change?
[21:56.740 --> 22:01.700]  Well, you have to know what... I mean, it's no different than anything else that I think
[22:01.700 --> 22:03.940]  you guys talk about on your radio program.
[22:03.940 --> 22:09.540]  Good... Shannon Poudent, a good swift kick in the butt.
[22:09.540 --> 22:14.940]  Yes, and then after that, you can talk to them.
[22:14.940 --> 22:18.980]  You can tell them that you're... You know, you can show them that you are educated.
[22:18.980 --> 22:24.940]  Take your documents in there and say, no, that's not what this says.
[22:24.940 --> 22:32.020]  It says this, and you did that, and you need to fix this.
[22:32.020 --> 22:36.300]  I'm in here asking you to help me fix this.
[22:36.300 --> 22:42.380]  Banks are not in business to take houses back.
[22:42.380 --> 22:45.460]  Banks are not in business to repo cars.
[22:45.460 --> 22:57.780]  What obligation do they have if you go into them with evidence of an error to make you hold and repair the error?
[22:57.780 --> 23:00.820]  Well, it depends on what type of error it is.
[23:00.820 --> 23:08.140]  You know, there's different remedies, but let's say, for example, we'll just talk about
[23:08.140 --> 23:15.020]  one that I know is a common error, the disclosure of your annual percentage rate, your APR.
[23:15.020 --> 23:19.580]  That rate has to be disclosed to you within an eighth of one percent of accuracy, so there
[23:19.580 --> 23:28.500]  is not any wiggle room, so to speak, for what they are disclosing to you.
[23:28.500 --> 23:31.020]  And those penalties are very stiff.
[23:31.020 --> 23:39.020]  Now, is that a penalty from some... other than from a civil suit against them?
[23:39.020 --> 23:48.020]  I mean, are these industry penalties like fines and fees from government organizations?
[23:48.020 --> 24:02.380]  Yes, but there's also some remedies depending on the infraction on monetary funds back to
[24:02.380 --> 24:06.500]  the borrower as a form of penalty.
[24:06.500 --> 24:14.740]  I would like to bring Randy in now and let him explain who he is and his perspective
[24:14.740 --> 24:22.620]  on this issue, because he also has a concern about the way things are going, and I'd like
[24:22.620 --> 24:29.700]  him to kind of address his position, and then we kind of kick around how to structure remedies,
[24:29.700 --> 24:36.180]  what can be done to pay these back, to straighten these things out.
[24:36.180 --> 24:42.300]  Randy, you got your dog under control?
[24:42.300 --> 24:45.300]  Is Randy unmuted?
[24:45.300 --> 24:46.300]  He is now.
[24:46.300 --> 24:50.340]  He just called back in, he dropped off a line, and he disappeared for a while, and he just
[24:50.340 --> 24:51.340]  came back.
[24:51.340 --> 24:52.340]  Randy, thanks.
[24:52.340 --> 24:53.340]  Yeah.
[24:53.340 --> 24:54.340]  Hi, guys.
[24:54.340 --> 24:57.780]  Just a little background, my name is Randy Reller.
[24:57.780 --> 25:04.900]  I've been in real estate for 25 years, and the mortgage issue to me, there are a lot
[25:04.900 --> 25:10.460]  of elements to it, but I kind of pulled up some numbers just to give everybody an idea
[25:10.460 --> 25:12.900]  of what's going on.
[25:12.900 --> 25:21.500]  Currently in the Austin market, there's 11,500 homes per sale, and out of that, 3.87% of
[25:21.500 --> 25:26.500]  them are in a short sale situation, which means they're upside down.
[25:26.500 --> 25:30.900]  That's about almost 500 homes.
[25:30.900 --> 25:39.100]  The situation is such that all these people need some type of relief, who knows how they
[25:39.100 --> 25:40.940]  got into the situation.
[25:40.940 --> 25:45.860]  There's a lot of stuff that goes on, I think, in the mortgage side of things.
[25:45.860 --> 25:51.460]  When it comes to disclosures, I mean, there's a lot of disclosure laws, and I'd like to
[25:51.460 --> 25:55.600]  hear what Charlotte has to say about this new HERA stuff, which they're supposedly
[25:55.600 --> 26:04.220]  tightening down on the disclosures, and what has to be disclosed when, how long people
[26:04.220 --> 26:10.020]  get to find out about it before they sign off on it, and all that.
[26:10.020 --> 26:18.260]  I've always felt like the way that they do it is not quite kosher.
[26:18.260 --> 26:23.940]  I know as a buyer of property, when I sit down and I put all the numbers together and
[26:23.940 --> 26:28.300]  I look and see what I'm actually going to be into this thing for, because what most
[26:28.300 --> 26:32.720]  people don't realize is that the sales price is not how much you actually pay for a property.
[26:32.720 --> 26:38.380]  You always pay over that, and that's not really disclosed to anybody in a clear-cut manner
[26:38.380 --> 26:43.540]  so you understand what you're really into this thing for in the beginning, and actually
[26:43.540 --> 26:47.220]  what you're going to come out of pocket for.
[26:47.220 --> 26:53.660]  In a short summation, that's kind of my position on it, is I think there's some clear issues
[26:53.660 --> 27:00.460]  that the general public just doesn't have a very good handle on.
[27:00.460 --> 27:04.340]  Okay.
[27:04.340 --> 27:11.780]  From your perspective, what are the things primarily you see that are done wrong to defraud
[27:11.780 --> 27:19.700]  your clients?
[27:19.700 --> 27:23.460]  Is the agent the problem?
[27:23.460 --> 27:25.140]  The real estate agent?
[27:25.140 --> 27:26.140]  Yes.
[27:26.140 --> 27:27.140]  No.
[27:27.140 --> 27:32.980]  The real estate agent has zero to do with the loan, typically, and anybody that's got
[27:32.980 --> 27:38.100]  a lick of sense that's an agent has nothing to do with the loan other than you might suggest
[27:38.100 --> 27:40.140]  a lender to somebody.
[27:40.140 --> 27:42.820]  After that, I totally stay out of it.
[27:42.820 --> 27:47.340]  I don't want to know about it, because there's nothing I can do about it.
[27:47.340 --> 27:58.340]  It only increases my liability, and I have no control over it whatsoever.
[27:58.340 --> 28:04.260]  On the mortgage side of it, I'm not sure that those folks are totally at blame either.
[28:04.260 --> 28:13.580]  I think it goes back to the institutions that are actually creating the funds at an error
[28:13.580 --> 28:15.060]  when they create these loans.
[28:15.060 --> 28:22.100]  The whole process, when you get right down to the core of it, is not legit, and has nothing
[28:22.100 --> 28:26.140]  to do with the mortgage broker or the mortgage people, in my opinion.
[28:26.140 --> 28:35.460]  They're just following a recipe, and unfortunately, that recipe depends upon an element of fraud
[28:35.460 --> 28:40.580]  that is inherent in every transaction, in my opinion.
[28:40.580 --> 28:49.660]  How do you, as a broker, protect your client?
[28:49.660 --> 28:56.780]  There's no way I can, in the sense that, in the current situation, if you want a loan,
[28:56.780 --> 29:03.300]  you have to go and deal with the process as it is.
[29:03.300 --> 29:08.900]  You understand this, Randy, that the funds are created at the signature point.
[29:08.900 --> 29:13.140]  That's the fraud of it.
[29:13.140 --> 29:19.260]  The people that are doing it, the paper pushers, none of those people understand how it really
[29:19.260 --> 29:25.100]  works, and neither does the borrower.
[29:25.100 --> 29:33.140]  The paper pushers are creating the funds, but how does that defraud the buyer?
[29:33.140 --> 29:43.980]  We're going to talk about how this defrauds the buyer when we get back on the other side.
[29:43.980 --> 29:49.660]  This is the rule of law, Randy Kelton and Debra Stevens, Eddie Craig, here on the rule
[29:49.660 --> 29:50.900]  of law radio network.
[29:50.900 --> 29:58.740]  We will be right back.
[29:58.740 --> 30:03.060]  Gold prices are at historic highs, and with the recent pullback, this is a great time
[30:03.060 --> 30:04.060]  to buy.
[30:04.060 --> 30:08.300]  With the value of the dollar, risks of inflation, geopolitical uncertainties, and instability
[30:08.300 --> 30:11.820]  in world financial systems, I see gold going up much higher.
[30:11.820 --> 30:15.340]  Hi, I'm Tim Fry at Roberts and Roberts Brokerage.
[30:15.340 --> 30:18.860]  Everybody should have some of their assets in investment grade precious metals.
[30:18.860 --> 30:22.800]  At Roberts and Roberts Brokerage, you can buy gold, silver, and platinum with confidence
[30:22.800 --> 30:27.820]  from a brokerage that specialized in the precious metals market since 1977.
[30:27.820 --> 30:31.560]  If you are new to precious metals, we will happily provide you with the information you
[30:31.560 --> 30:35.940]  need to make an informed decision whether or not you choose to purchase from us.
[30:35.940 --> 30:40.300]  Also, Roberts and Roberts Brokerage values your privacy and will always advise you in
[30:40.300 --> 30:43.700]  the event that we would be required to report any transaction.
[30:43.700 --> 30:47.820]  If you have gold, silver, or platinum you'd like to sell, we can convert it for immediate
[30:47.820 --> 30:48.820]  payment.
[30:48.820 --> 30:52.580]  Call us at 800-874-9760.
[30:52.580 --> 30:57.940]  We're at Roberts and Roberts Brokerage, 800-874-9760.
[31:22.580 --> 31:52.420]  Helicopter Bernanke, printing the U.S. currency.
[31:52.420 --> 31:57.020]  The bailout money, okay?
[31:57.020 --> 32:00.940]  Know why they call him Helicopter Bernanke?
[32:00.940 --> 32:09.580]  Because he's known for his policies of dropping, his policies are akin to that of dropping
[32:09.580 --> 32:11.900]  cash from a helicopter all over the country.
[32:11.900 --> 32:14.420]  That's why they call him Helicopter Bernanke.
[32:14.420 --> 32:16.680]  Anyways, Dan, go ahead.
[32:16.680 --> 32:22.780]  You were just about to explain about how people are just being defrauded.
[32:22.780 --> 32:23.780]  Randy?
[32:23.780 --> 32:24.780]  Yes.
[32:24.780 --> 32:25.780]  Okay.
[32:25.780 --> 32:26.780]  Go ahead.
[32:26.780 --> 32:27.780]  Randy Raylor.
[32:27.780 --> 32:34.060]  Well, I guess what I was saying is that, you know, the funds for Bank A that go to fund
[32:34.060 --> 32:36.940]  the mortgage are created on the signature.
[32:36.940 --> 32:43.100]  They're not existing until the signature is done on the loan and therefore the bank in
[32:43.100 --> 32:45.020]  truth has nothing at risk.
[32:45.020 --> 32:49.460]  They're just asking you to pay them back plus interest for something that was created at
[32:49.460 --> 32:50.460]  the time of your signature.
[32:50.460 --> 32:54.060]  Well, it's total fraud because they never lent you anything anyway.
[32:54.060 --> 32:56.380]  Exactly, because there's no money to be lent.
[32:56.380 --> 32:59.500]  It's all credit.
[32:59.500 --> 33:05.700]  And so when we talk about these, this mortgage crisis, I mean, the system is what it is,
[33:05.700 --> 33:12.300]  but it would be very simple to, you know, stop the problem and stop the bleeding because
[33:12.300 --> 33:17.020]  no one really has anything at risk other than the time and effort they put in, which is
[33:17.020 --> 33:19.700]  minimal compared to the total loans about.
[33:19.700 --> 33:20.700]  Absolutely.
[33:20.700 --> 33:21.700]  They're not out.
[33:21.700 --> 33:28.500]  Anything when they cut the check to the person who's buying the house to pay the seller,
[33:28.500 --> 33:36.260]  they've already monetized your signature when you sign that note before the funds get deposited
[33:36.260 --> 33:41.260]  in the account of your account so that you can cut the check, okay?
[33:41.260 --> 33:46.260]  Before the check goes to the seller, you have already signed the note and they've already
[33:46.260 --> 33:50.660]  monetized it and securitized it and sold it 10 times over.
[33:50.660 --> 33:51.660]  And that is a reality.
[33:51.660 --> 33:52.660]  That is a fact.
[33:52.660 --> 33:56.700]  That is on mainstream banking websites.
[33:56.700 --> 33:59.140]  They teach courses about it, okay?
[33:59.140 --> 34:01.820]  So it's complete and total fraud.
[34:01.820 --> 34:07.500]  Well, the biggest fraud in all of that though is if you read any type of loan agreement,
[34:07.500 --> 34:13.380]  the loan agreement states the bank is lending you something of value in exchange for your
[34:13.380 --> 34:16.740]  signature and the purpose of the loan.
[34:16.740 --> 34:22.020]  The bank is never lending you anything of value because they don't have anything to
[34:22.020 --> 34:23.020]  lend.
[34:23.020 --> 34:24.020]  Exactly.
[34:24.020 --> 34:29.740]  And that is complete and total utter fraud on its face.
[34:29.740 --> 34:35.340]  And I think we should go after them for the whole value, face value of the mortgage and
[34:35.340 --> 34:39.740]  all the payments that we ever paid to on top of it and damages, okay?
[34:39.740 --> 34:44.260]  Yeah, we're kind of looking in that direction, aren't we, Charla?
[34:44.260 --> 34:45.620]  Well, most definitely.
[34:45.620 --> 34:47.860]  And I agree with everything that you guys are saying.
[34:47.860 --> 34:56.300]  But, I mean, you know, I pose this into the argument as the signatory person and they're
[34:56.300 --> 35:03.260]  taking my home away, how does what we're talking about now, fraud on the face, how does that
[35:03.260 --> 35:04.260]  help me?
[35:04.260 --> 35:10.340]  Because we go, we file criminal charges against them and with the grand jury and we file court
[35:10.340 --> 35:16.300]  injunction, file petitions for court injunctions to stop the foreclosure and sue the living,
[35:16.300 --> 35:18.300]  you know what, out of them.
[35:18.300 --> 35:27.380]  Well, that sort of goes to where we're going, but not quite totally focused on that issue.
[35:27.380 --> 35:29.500]  I'm sure we could adjudicate that.
[35:29.500 --> 35:32.700]  That one's going to be extremely difficult to adjudicate.
[35:32.700 --> 35:34.620]  What is?
[35:34.620 --> 35:39.420]  The assertion that the bank lends nothing of value.
[35:39.420 --> 35:42.180]  That is not going to be difficult.
[35:42.180 --> 35:47.580]  I can pull up hundreds of websites on it right now that are valid sources of information
[35:47.580 --> 35:50.820]  and get this, here's some other research that I did.
[35:50.820 --> 35:54.820]  You want to look up monetizing signatures and mortgages?
[35:54.820 --> 36:00.820]  The main bank that handles the securitization of these notes, guess what the name of the
[36:00.820 --> 36:02.820]  bank is?
[36:02.820 --> 36:03.820]  Signature bank.
[36:03.820 --> 36:04.820]  Ha ha.
[36:04.820 --> 36:05.820]  Very funny.
[36:05.820 --> 36:07.820]  They just throw it in your face.
[36:07.820 --> 36:17.160]  Yeah, we can, but there's something a lot easier to adjudicate, a lot more direct and
[36:17.160 --> 36:23.240]  absolutely easy for each one to understand.
[36:23.240 --> 36:31.500]  Even by their own rules, even by the rules they claim to follow, they violate all of
[36:31.500 --> 36:32.500]  them.
[36:32.500 --> 36:39.300]  So we don't have to say overall, generally, the whole thing you're doing is fraud and
[36:39.300 --> 36:43.740]  have to prove that the entire system is fraudulent.
[36:43.740 --> 36:49.700]  How are we going to get a federal judge to say, oh yeah, every loan every bank has ever
[36:49.700 --> 36:55.660]  made in this country is fraudulent in the real world we live in?
[36:55.660 --> 36:59.780]  And actually, Randy, that shouldn't really be that difficult because all you have to
[36:59.780 --> 37:01.740]  do is get the bank records.
[37:01.740 --> 37:07.300]  The bank record will show that there was nothing physically actually removed from the bank.
[37:07.300 --> 37:10.140]  I'm not saying it's hard to prove.
[37:10.140 --> 37:16.660]  Well, I mean, I didn't think we were talking about a class action lawsuit here on behalf
[37:16.660 --> 37:18.460]  of every homeowner in America.
[37:18.460 --> 37:25.500]  We're talking about individuals, so we're not asking a judge to say that every mortgage
[37:25.500 --> 37:26.500]  is fraudulent.
[37:26.500 --> 37:29.580]  We're just asking the judge to rule that this one is.
[37:29.580 --> 37:30.580]  That's what he does.
[37:30.580 --> 37:31.580]  Okay.
[37:31.580 --> 37:32.580]  Well, then...
[37:32.580 --> 37:33.580]  That becomes precedent.
[37:33.580 --> 37:38.980]  But you know, Randy, I was thinking that it's kind of like what you do with the rules of
[37:38.980 --> 37:43.780]  criminal procedure and stuff when you're dealing with the traffic tickets and whatnot.
[37:43.780 --> 37:45.340]  They don't follow their own rules.
[37:45.340 --> 37:50.660]  It's not necessary to go into the depth of the detail that we've kind of went into now.
[37:50.660 --> 37:56.620]  It's more necessary to hit them on the key points that the average person can understand
[37:56.620 --> 38:00.980]  to, you know, achieve the victory that we all want.
[38:00.980 --> 38:01.980]  Yeah.
[38:01.980 --> 38:06.420]  Like they told me I would be paying 6% interest.
[38:06.420 --> 38:12.460]  But when I calculate out what I'm actually paying, it comes up 6.9% interest.
[38:12.460 --> 38:15.500]  That's real easy to understand.
[38:15.500 --> 38:20.780]  The law says they were supposed to do X, they did Y.
[38:20.780 --> 38:21.780]  That's really easy.
[38:21.780 --> 38:24.780]  They charge me this fee, they're forbidden to charge me.
[38:24.780 --> 38:30.180]  Those things are real simple to understand, and it's a lot easier to get a judge to give
[38:30.180 --> 38:35.700]  a ruling in your favor because he's not giving a ruling that will reverberate through the
[38:35.700 --> 38:40.820]  entire system.
[38:40.820 --> 38:42.700]  That's what Charla's all about.
[38:42.700 --> 38:49.260]  Well, but I do think that there are going to be people out there that will go for the
[38:49.260 --> 38:57.700]  initial fraud, and I hope that there are, you know, because that is the root of everything.
[38:57.700 --> 39:07.500]  But there's going to be more, in my opinion, more people that are going to understand the
[39:07.500 --> 39:11.300]  next level, you know, not at the beginning level.
[39:11.300 --> 39:14.100]  They will be able to represent themselves better.
[39:14.100 --> 39:17.860]  They understand it better, and there will be more of a success rate.
[39:17.860 --> 39:24.140]  Well, you know, I said there was 455 that I could find right now, people in a position
[39:24.140 --> 39:26.180]  that needed some help.
[39:26.180 --> 39:31.980]  And I think it would be much easier to approach them with a logical thing that they could
[39:31.980 --> 39:39.540]  understand as far as, you know, here's how you've been taken advantage of versus explaining
[39:39.540 --> 39:45.300]  to them the true nature of how they've been taken advantage of because I don't think the
[39:45.300 --> 39:51.220]  average person is prepared to admit to what's really going on.
[39:51.220 --> 39:56.620]  I think everybody's starting to finally in the gut know something is dead wrong, but
[39:56.620 --> 40:03.860]  it's a hard one to look it straight in the eye and say, my God, I've just been a fool.
[40:03.860 --> 40:08.100]  Exactly, and I think that's really kind of where we all are.
[40:08.100 --> 40:12.540]  Yeah, that type of thought process usually only works with ex-wives.
[40:12.540 --> 40:19.300]  Well, and Charlotte, to answer your question or to address your comment a minute ago, there
[40:19.300 --> 40:21.060]  are a lot of people who are already doing it.
[40:21.060 --> 40:27.660]  A lot of people are beating their foreclosures and getting their houses outright simply because
[40:27.660 --> 40:33.940]  the banks can't produce the original wet ink signature note in court, which they are required
[40:33.940 --> 40:36.060]  to do under the federal rules of evidence.
[40:36.060 --> 40:37.060]  Well, exactly.
[40:37.060 --> 40:38.060]  How was that?
[40:38.060 --> 40:39.060]  I'm sorry, say that again.
[40:39.060 --> 40:40.060]  Your voice kind of dropped out.
[40:40.060 --> 40:41.060]  I'm sorry.
[40:41.060 --> 40:42.060]  How simple is that for everyone to understand?
[40:42.060 --> 40:43.060]  It's very simple and it's very effective.
[40:43.060 --> 40:54.140]  Absolutely.
[40:54.140 --> 40:57.140]  You're trying to collect on a contract.
[40:57.140 --> 40:58.140]  Show me the contract.
[40:58.140 --> 41:00.100]  Well, we got this photocopy here.
[41:00.100 --> 41:05.780]  Well, that's evidence that there's a good chance a contract actually exists, but it's
[41:05.780 --> 41:09.300]  only evidence, prima facie.
[41:09.300 --> 41:16.180]  You don't get standing on prima facie, you get standing on wet ink signature document.
[41:16.180 --> 41:22.660]  And these are things, this is the kind of thing we're looking to go to here.
[41:22.660 --> 41:29.620]  I know this whole issue of the monetary system is a valid issue, but man, it's going to be
[41:29.620 --> 41:34.780]  hard to adjudicate, to use that with me trying to save my house tomorrow.
[41:34.780 --> 41:41.300]  Well, we'll see, the thing is, Randy, I don't really think it's fair to bash one remedy
[41:41.300 --> 41:42.820]  over another.
[41:42.820 --> 41:48.620]  There are a lot of remedies at stake here and a lot of them are working, most all of
[41:48.620 --> 41:49.620]  them are working.
[41:49.620 --> 41:55.980]  So who's to say that we shouldn't try to do that one or this one?
[41:55.980 --> 41:59.980]  I'm in favor of it all, okay?
[41:59.980 --> 42:06.380]  Go after them every which way we can, okay, if we can prove fraud through the basic structure
[42:06.380 --> 42:10.500]  of the monetary system, then I say, let's use that as a cause of action.
[42:10.500 --> 42:15.460]  If we can use Sharla's causes of action, let's use that too.
[42:15.460 --> 42:19.780]  Let's file lawsuits that have 50 causes of action and show every way that they're doing
[42:19.780 --> 42:20.780]  it, okay?
[42:20.780 --> 42:23.980]  Because the more evidence we have against them, the better.
[42:23.980 --> 42:24.980]  Yes.
[42:24.980 --> 42:25.980]  Go ahead.
[42:25.980 --> 42:34.020]  There was something that triggered a memory in me that the interesting thing that I've
[42:34.020 --> 42:39.020]  always found with the mortgages is that there's only one signatory on all of this paperwork
[42:39.020 --> 42:42.020]  and that is the borrower.
[42:42.020 --> 42:52.060]  And how in the world, when I was in law class in college, any type of a note required two
[42:52.060 --> 42:54.940]  signatures out of the borrower and the lender.
[42:54.940 --> 43:00.180]  What is to stop the borrower from just changing the terms of the note since he's the only
[43:00.180 --> 43:04.820]  one that controls it?
[43:04.820 --> 43:09.580]  And that's very interesting that you say that because there is no extension of the institution's
[43:09.580 --> 43:14.980]  liability because there is no one that has agreed to any term because there's no signature
[43:14.980 --> 43:17.020]  for representing the institution.
[43:17.020 --> 43:18.220]  It's just the borrower's signature.
[43:18.220 --> 43:24.500]  Yes, so why can't I just send in some paperwork and modify the terms of the loan at will?
[43:24.500 --> 43:25.500]  Absolutely.
[43:25.500 --> 43:32.340]  I mean, it's worth trying for definite.
[43:32.340 --> 43:37.540]  I mean, you know, it just strikes me as there's a lot of fun ways we can play with this, but
[43:37.540 --> 43:44.740]  I would like to get something that we could bring to the average person that is somewhat
[43:44.740 --> 43:49.940]  we know works pretty well in the general case, but at the same time, there's a lot of areas,
[43:49.940 --> 43:56.940]  Deborah said, that we can really get into this and, you know, attack the beast as it
[43:56.940 --> 43:57.940]  were.
[43:57.940 --> 43:58.940]  Well, and I agree with Deborah.
[43:58.940 --> 44:22.220]  We're really good after it.
[44:22.220 --> 44:25.060]  You can bring them to a new level.
[44:25.060 --> 44:26.060]  Right.
[44:26.060 --> 44:27.060]  I agree.
[44:27.060 --> 44:29.060]  Absolutely.
[44:29.060 --> 44:39.340]  Randy, are you still there?
[44:39.340 --> 44:40.340]  This Randy is.
[44:40.340 --> 44:41.340]  Yeah, I'm here.
[44:41.340 --> 44:50.460]  There was one thing I wanted to ask you about, Charla.
[44:50.460 --> 44:54.620]  We talked earlier and you mentioned a no interest loan.
[44:54.620 --> 44:55.620]  Yes.
[44:55.620 --> 45:00.700]  Can you explain how that works and what the fallback is?
[45:00.700 --> 45:01.700]  Yes.
[45:01.700 --> 45:05.980]  What happened in the mortgage industry, and so lenders are always very resilient in trying
[45:05.980 --> 45:11.020]  to figure out ways to get borrowers into properties or whatever, you know, depending on what the
[45:11.020 --> 45:17.020]  market is doing, and we had an increase in property values, as everyone knows, and they
[45:17.020 --> 45:19.820]  were pricing themselves out of the market.
[45:19.820 --> 45:28.340]  And so what they did is they came up with three, five, and seven, well, not many sevens,
[45:28.340 --> 45:35.780]  mostly three and five year interest only payment loans to get into mortgages.
[45:35.780 --> 45:38.660]  And I haven't really looked at a lot of them.
[45:38.660 --> 45:46.940]  My institution personally, we did not do those, but I posed the question to Randy that, you
[45:46.940 --> 45:53.380]  know, at the time, my three year period is up when I'm finished paying interest only,
[45:53.380 --> 45:59.460]  and it goes into an amortization where I'm repaying the principal and the interest in
[45:59.460 --> 46:01.460]  at that point.
[46:01.460 --> 46:06.660]  Number one, I don't know that a lot of people can afford the payment, which is one reason
[46:06.660 --> 46:13.820]  for the delinquencies that we've seen with the foreclosures, but the other thing is I
[46:13.820 --> 46:21.420]  want to see how they are actually taking that original note and what verbiage is written
[46:21.420 --> 46:27.580]  within that original note that carries over into the repayment, because when I went into
[46:27.580 --> 46:33.860]  that original note, what kind of rate did they disclose to me that I was going to be
[46:33.860 --> 46:36.180]  paying in three years?
[46:36.180 --> 46:38.340]  What kind of payment did they disclose at that time?
[46:38.340 --> 46:44.660]  I mean, there's all kinds of different reporting structures that I'm going to educate myself
[46:44.660 --> 46:50.100]  on, because there are so many of those loans out there.
[46:50.100 --> 46:51.100]  It's amazing.
[46:51.100 --> 46:56.620]  And I'm sure, Randy, you can probably speak to this maybe with your real estate background
[46:56.620 --> 46:59.300]  and knowing that people got into those kinds of loans.
[46:59.300 --> 47:05.740]  I mean, you might even conchets and educate me a little bit about any of those.
[47:05.740 --> 47:15.100]  Yeah, it looks like when I look at it, the guy can't pay the mortgage and the interest.
[47:15.100 --> 47:24.220]  So the lender gets him into this contract where he only has to pay interest and not
[47:24.220 --> 47:25.220]  principal.
[47:25.220 --> 47:32.900]  Well, he can do that, but at some point, he's going to have to pay them both.
[47:32.900 --> 47:40.940]  Is he expecting all of a sudden to get some windfall that's going to last for the next
[47:40.940 --> 47:47.740]  20 years when this principal comes due?
[47:47.740 --> 47:49.860]  Has that been what's happening, Charla?
[47:49.860 --> 47:55.220]  Have these people been, all of a sudden, when they're payment balloons, have they been able
[47:55.220 --> 47:57.820]  to keep up with it?
[47:57.820 --> 48:02.460]  I think a lot of them have not, okay, and probably a lot of them at this point are going
[48:02.460 --> 48:08.860]  into loan modifications, rewriting the loan, maybe extending the amortization back out
[48:08.860 --> 48:13.980]  to 30 years so that they can afford the principal and interest payment so that the loan goes
[48:13.980 --> 48:18.620]  amortized over a given period of time.
[48:18.620 --> 48:23.020]  But that's not happening in some cases, too.
[48:23.020 --> 48:29.860]  But Mr. Raylow, have you experienced any conversations or what have you seen out there in the Austin
[48:29.860 --> 48:32.660]  area, just out of curiosity?
[48:32.660 --> 48:38.700]  Well, I mean, in a general sense, for years and years and years, what I've always seen
[48:38.700 --> 48:51.100]  is that the lending institutions or whatever side of a transaction, it is better able to
[48:51.100 --> 48:52.540]  absorb the risk.
[48:52.540 --> 48:58.260]  In this case, it would be the mortgage lender versus the borrower.
[48:58.260 --> 49:05.660]  Always tries to shift the risk to the lesser party that cannot bear the risk with the mistaken
[49:05.660 --> 49:11.860]  assumption that the risk, by shifting the risk, that they're shifting that risk burden
[49:11.860 --> 49:13.780]  away from themselves.
[49:13.780 --> 49:19.300]  And what I've always seen, be it in the financial markets or the mortgage markets or whatever,
[49:19.300 --> 49:21.300]  is this is the case.
[49:21.300 --> 49:27.620]  The government facilitates this, and it always increases the instability of the total system
[49:27.620 --> 49:34.020]  because the risk is compounded because the one that is least able to bear risk, in this
[49:34.020 --> 49:41.820]  case the lender or the borrower, is always given the position to take on the risk, in
[49:41.820 --> 49:43.660]  other words, the default risk.
[49:43.660 --> 49:50.580]  The default risk really falls back to the mortgage or, not the mortgagee.
[49:50.580 --> 49:54.340]  And any time that you play the game that you're going to shift the risk over to the other
[49:54.340 --> 49:59.820]  side, you always have these inherent and unstable positions.
[49:59.820 --> 50:04.220]  But what we always see is that the government comes in and then takes those burdens and
[50:04.220 --> 50:09.260]  places them on the back of the taxpayers and bails out the bad decisions and the poor risk
[50:09.260 --> 50:13.060]  management that is associated with the whole transaction.
[50:13.060 --> 50:16.980]  And this is systemic, and it always happens this way.
[50:16.980 --> 50:21.140]  That probably didn't answer your question, but that explains kind of how we got to the
[50:21.140 --> 50:27.420]  point where we are now and what, if in the future, even if we have a system similar to
[50:27.420 --> 50:32.740]  what we have, maybe we have to change it some, you can't shift these burdens over to the
[50:32.740 --> 50:34.860]  weak side.
[50:34.860 --> 50:44.180]  You haven't done anything but play kind of an accounting trick, but it didn't shift the
[50:44.180 --> 50:45.180]  burden.
[50:45.180 --> 50:46.180]  The burden is still there.
[50:46.180 --> 50:50.660]  It actually increases the burden because now you're depending upon the side that can never
[50:50.660 --> 50:54.300]  make good on it to be the one that does.
[50:54.300 --> 50:58.020]  And that's kind of what I would have to say about that.
[50:58.020 --> 51:07.140]  Personal circumstances, I've seen all types of things going on with borrowers.
[51:07.140 --> 51:09.340]  I've always tried to steer them clear.
[51:09.340 --> 51:12.820]  Don't take on negative amortizations.
[51:12.820 --> 51:15.940]  Don't take on adjustable rates.
[51:15.940 --> 51:20.780]  If I felt the client couldn't handle it, I would tell them, look, this is a bad deal for
[51:20.780 --> 51:21.780]  you.
[51:21.780 --> 51:23.140]  I don't think you should do it.
[51:23.140 --> 51:26.700]  But I can't do anything about it if they do.
[51:26.700 --> 51:29.700]  I have to go with what they say.
[51:29.700 --> 51:36.260]  But in general, I think that one point I was trying to make about the risk shifting that
[51:36.260 --> 51:42.700]  really doesn't shift risk, all it does is create more risk and create a totally unstable
[51:42.700 --> 51:49.220]  situation down the road is absolutely fundamentally at the bottom of all the things that are going
[51:49.220 --> 51:56.420]  on that everybody sees in the financial markets now, the mortgage markets, it's just inherent
[51:56.420 --> 51:57.420]  in it.
[51:57.420 --> 52:02.780]  And because the ultimate players know that they're going to take the government or Jess
[52:02.780 --> 52:08.020]  and shift it onto the backs of the taxpayers and get away with it, which is what they've
[52:08.020 --> 52:09.020]  done.
[52:09.020 --> 52:10.020]  Right.
[52:10.020 --> 52:20.260]  I don't know if that answered your question in short.
[52:20.260 --> 52:28.260]  Charla, the one thing that you do is examine the mortgages the way they're done.
[52:28.260 --> 52:37.340]  Can you kind of give us a short course in the common errors you tend to find in most
[52:37.340 --> 52:40.700]  of the mortgages that you look at?
[52:40.700 --> 52:44.980]  Not the ones you did, of course, but the ones other people did.
[52:44.980 --> 52:45.980]  Of course.
[52:45.980 --> 52:55.380]  Well, and recently what I've seen when I looked at some of them, there are a few places where
[52:55.380 --> 53:03.340]  the lender or the loan officer is required to sign and documents are not signed, documents
[53:03.340 --> 53:09.860]  are not notarized, of course, disclosures are not given.
[53:09.860 --> 53:15.100]  I mean, I looked at one recently, I was looking at the survey, and there was one document
[53:15.100 --> 53:19.940]  in the file that said flood insurance was required, one document that said flood insurance
[53:19.940 --> 53:26.980]  was not required, and the survey itself said that the property is not in a flood zone.
[53:26.980 --> 53:29.900]  You know, maybe the lender was just trying to make sure they got the right document and
[53:29.900 --> 53:39.420]  file, so they just put both of them in there, I don't know, but there's no, of course, the
[53:39.420 --> 53:45.260]  treatment lending violations, I mean, and statistically, the numbers that are out there,
[53:45.260 --> 53:59.460]  88% of all mortgage loans have a serious infraction, and there's different levels of, I guess,
[53:59.460 --> 54:04.940]  what they do wrong, so people can understand that, you know, based on what they do wrong
[54:04.940 --> 54:10.140]  or what is not properly disclosed, it goes into a different level, a different penalty
[54:10.140 --> 54:23.780]  phase, but 88% of all loans have a major infraction, okay, a real monetary penalty that can go
[54:23.780 --> 54:29.020]  back against the lender and the institution.
[54:29.020 --> 54:35.140]  I mean, I was looking at some documents the other day that were certified true copies
[54:35.140 --> 54:38.940]  of the originals, but none of them were notarized.
[54:38.940 --> 54:42.260]  Now, is the original notarized?
[54:42.260 --> 54:43.260]  I don't know.
[54:43.260 --> 54:48.260]  I mean, you know, if I'm looking at a certified true original copy, I would think that it
[54:48.260 --> 54:54.100]  would have a notarized stamp on it, so it's just things like that.
[54:54.100 --> 55:02.500]  I mean, it's just all kinds of things, and of course, there's not any two of them that
[55:02.500 --> 55:06.140]  are going to be the same, obviously, but...
[55:06.140 --> 55:18.460]  What of these amount to, you know, errors that are no harm, no foul, and what percentage
[55:18.460 --> 55:25.860]  of these tend to amount to errors that defraud the borrower?
[55:25.860 --> 55:35.100]  Well, I go back to the figure that I've investigated, and that is being spread throughout the industry,
[55:35.100 --> 55:36.100]  88%.
[55:36.100 --> 55:41.260]  So, and these, you're saying they're serious because they defraud the borrower.
[55:41.260 --> 55:50.780]  I mean, they're not serious because of some technical requirement, but in fact, the person
[55:50.780 --> 56:01.220]  who made the loan has the loan based on fraud, and from what I know of that part, if the
[56:01.220 --> 56:09.060]  loan's based on fraud, then the loan is garbage, and now, I guess, this kind of leads back
[56:09.060 --> 56:15.380]  to what Randy and Deborah were talking about earlier about the banks creating this money
[56:15.380 --> 56:26.820]  out of air in that you purchase the house, the house is transferred to you, and then
[56:26.820 --> 56:37.020]  you create a promissory note to the bank, but the bank already got an entry on the positive
[56:37.020 --> 56:45.060]  side of their ledger for the amount of the home, and they've got that, as I understand
[56:45.060 --> 56:54.380]  it, monetized by the U.S. Treasury, so their side of the ledger got its entry, and they
[56:54.380 --> 57:02.500]  show to have this value, and now they're asking you to give them back value again, and from
[57:02.500 --> 57:12.180]  what I've seen in researching these cases against credit card companies and mortgage
[57:12.180 --> 57:20.300]  companies for fraud, that if you find fraud in the promissory note, it doesn't necessarily
[57:20.300 --> 57:27.540]  affect the bill, the house, it's already yours, but you don't have to pay back the note because
[57:27.540 --> 57:36.580]  it's fraud. So the note goes away. Yes, it's fraud on its face from the very beginning.
[57:36.580 --> 57:44.540]  So the note simply goes away, and the house is rightly yours. Yeah, but what about all
[57:44.540 --> 57:50.380]  the money that you paid on the payments? You deserve that back. Right, yeah, that's what
[57:50.380 --> 57:56.060]  we sue for. What I was getting at is you don't have to pay the rest of it, now you can go
[57:56.060 --> 58:02.260]  after them, and this is one thing that Charla and I talked about, is you've got someone
[58:02.260 --> 58:07.940]  on fixed income who's already paid for the house, they've had a lot of money stole from
[58:07.940 --> 58:12.660]  them, they should be able to get back. Yeah, and I think probably when you're not in a
[58:12.660 --> 58:16.780]  foreclosure situation or in some kind of trouble with the loan, that's the time to go after
[58:16.780 --> 58:22.780]  and be proactive. Absolutely. Okay, we're going to break, we've got Steve Skidmore on
[58:22.780 --> 58:27.860]  the line. I'd like to bring him into the conversation on the other side. His show Endless Fraud Detection
[58:27.860 --> 58:32.220]  is coming to Rule of Law Radio Network. He's going to be filling in for Tom Kiley tomorrow
[58:32.220 --> 58:39.380]  night, Thursday night, 6 to 8, him and his co-host Neil Switkowski, and he'll be doing
[58:39.380 --> 58:43.260]  his show on Thursday nights, 10 to midnight, coming up in a couple of weeks. The Rule of
[58:43.260 --> 59:01.980]  Law Radio Network, we will be right back. Are you the plaintiff or defendant in a lawsuit?
[59:01.980 --> 59:07.180]  Win your case without an attorney with Juris Dictionary, the affordable, easy to understand
[59:07.180 --> 59:14.700]  for CD course that will show you how in 24 hours, step-by-step. If you have a lawyer,
[59:14.700 --> 59:19.060]  know what your lawyer should be doing. If you don't have a lawyer, know what you should
[59:19.060 --> 59:25.580]  do for yourself. Thousands have won with our step-by-step course, and now you can too.
[59:25.580 --> 59:31.420]  Juris Dictionary was created by a licensed attorney with 22 years of case-winning experience.
[59:31.420 --> 59:36.780]  Even if you're not in a lawsuit, you can learn what everyone should understand about
[59:36.780 --> 59:41.780]  the principles and practices that control our American courts. You'll receive our
[59:41.780 --> 59:48.900]  audio classroom, video seminar, tutorials, forms for civil cases, pro se tactics, and
[59:48.900 --> 59:55.100]  much more. Please visit ruleoflawradio.com and click on the banner, or call toll-free
[59:55.100 --> 59:58.100]  866-LAW-EZ.
[59:58.100 --> 01:00:07.100]  You are listening to the Rule of Law Radio Network at ruleoflawradio.com, live free speech
[01:00:07.100 --> 01:00:29.100]  talk radio at its best.
[01:00:37.100 --> 01:01:06.660]  All right, there it is. That's song by Three Shoes Posse, dedicated to Randy
[01:01:06.660 --> 01:01:13.020]  Raylor. Neighbor, neighbor, keep your dog out of my yard. I love it. I got to love it.
[01:01:13.020 --> 01:01:18.460]  We didn't write that song for him, but certainly that song is dedicated to Randy Raylor, the
[01:01:18.460 --> 01:01:22.580]  listeners who have been following this story for a while know what I'm talking about. Anyway,
[01:01:22.580 --> 01:01:28.100]  back to the banking fraud, and Steve, just sit tight for one second, because Randy Raylor
[01:01:28.100 --> 01:01:34.820]  and I were discussing something on the break concerning the issue again of the fraud of
[01:01:34.820 --> 01:01:40.860]  the entire monetary system and monetizing people's signatures. Randy, tell our listeners
[01:01:40.860 --> 01:01:42.420]  what you told me on the break.
[01:01:42.420 --> 01:01:51.420]  Well, it was probably around, I want to say, May of 2007. I was in a meeting with one of
[01:01:51.420 --> 01:01:57.140]  the main reps for Countrywide Mortgage, which was at that point the largest mortgage lender
[01:01:57.140 --> 01:02:03.260]  in the country. They were telling us about all the wonderful things. This was like about
[01:02:03.260 --> 01:02:11.740]  a week before the subprime blow up. He was saying to us that if we could bring in clients
[01:02:11.740 --> 01:02:16.140]  that were not American citizens, they didn't have to have a Social Security number, they
[01:02:16.140 --> 01:02:19.980]  didn't have to prove income, they didn't have to do anything. They just had to be able to
[01:02:19.980 --> 01:02:25.300]  fog a mirror, and they would give them a mortgage. Now, if you were an American, forget it. You
[01:02:25.300 --> 01:02:30.460]  had to prove all this and that, jump through all the hoops and all that, but if you were
[01:02:30.460 --> 01:02:37.260]  a non-American and wanted to buy a house, come on in. Loans were good. We're going to
[01:02:37.260 --> 01:02:38.940]  lend you whatever the heck you want.
[01:02:38.940 --> 01:02:40.580]  All they needed was the signature, right?
[01:02:40.580 --> 01:02:46.620]  All they wanted was the signature and a living, breathing body. Who knows, we might even be
[01:02:46.620 --> 01:02:50.380]  able to make it up as we went. I just couldn't believe it.
[01:02:50.380 --> 01:02:55.660]  Yeah, and the reason for that is because when you give them your signature on that piece
[01:02:55.660 --> 01:03:04.940]  of paper, they now have a debt instrument that they monetize and trade as a security
[01:03:04.940 --> 01:03:11.260]  on the market and make thousands of percent of profit off of it. It's already an even
[01:03:11.260 --> 01:03:18.260]  exchange anyway. They have already been paid when you give them your signature. You don't
[01:03:18.260 --> 01:03:25.860]  owe them anything after that point. It's an even trade. You've sold them your signature
[01:03:25.860 --> 01:03:31.660]  on a debt instrument to monetize on the open market. What do you owe them anything after
[01:03:31.660 --> 01:03:35.340]  that for? You should have charged them more.
[01:03:35.340 --> 01:03:42.180]  I don't understand this. The mortgage company, when they sold the house to you, they had
[01:03:42.180 --> 01:03:43.540]  to buy it from the seller.
[01:03:43.540 --> 01:03:44.540]  No, they didn't.
[01:03:44.540 --> 01:03:45.540]  No, they didn't, Randy.
[01:03:45.540 --> 01:03:55.780]  Think of it this way. The mortgage company may have $100,000 in the bank. They're going
[01:03:55.780 --> 01:04:02.860]  to lend you $100,000. Now, they don't take the $100,000 that they have in their account.
[01:04:02.860 --> 01:04:05.700]  They create a brand new $100,000.
[01:04:05.700 --> 01:04:11.260]  Yeah, that's actually prohibited by federal law for them to actually lend you the $100,000
[01:04:11.260 --> 01:04:12.260]  that they have in the bank.
[01:04:12.260 --> 01:04:15.980]  I understand that part. They get a-
[01:04:15.980 --> 01:04:19.900]  They keep the $100,000, but now they have a note worth $100,000.
[01:04:19.900 --> 01:04:20.900]  At least.
[01:04:20.900 --> 01:04:27.700]  Plus the $100,000 that they always had, plus the $100,000 that's out there to the seller.
[01:04:27.700 --> 01:04:33.660]  Then they turn around and they sell that note. Now they've got another $100,000.
[01:04:33.660 --> 01:04:40.340]  Exactly. That's exactly right. The banks admit this on their own website. That's why I'm
[01:04:40.340 --> 01:04:45.180]  saying this is not speculation or theory. Go look it up yourself, Signature Bank. I'm
[01:04:45.180 --> 01:04:47.500]  telling you. This is taught-
[01:04:47.500 --> 01:04:51.820]  But you are the book for the $100,000 that was created out of thin air, and you have
[01:04:51.820 --> 01:04:53.820]  to pay it back in interest.
[01:04:53.820 --> 01:04:56.020]  Where does the seller come in to this?
[01:04:56.020 --> 01:05:00.060]  These principles are taught in high level economics.
[01:05:00.060 --> 01:05:08.900]  There's a ledger entry that goes to the seller, so he gets a ledger entry on his positive
[01:05:08.900 --> 01:05:14.700]  side. Well, that has to balance with a negative ledger entry on somebody.
[01:05:14.700 --> 01:05:22.380]  Randy, listen. This is what I was saying earlier in the show. The bank does not cut the check
[01:05:22.380 --> 01:05:29.940]  to the seller until after you have already signed the note. Sometimes it's a couple days
[01:05:29.940 --> 01:05:38.140]  later even. Once they get that signed note, then they turn into a securities instrument
[01:05:38.140 --> 01:05:42.820]  and they get their money back right away on the open market. You think the banks are going
[01:05:42.820 --> 01:05:43.820]  to be out-
[01:05:43.820 --> 01:05:44.820]  Trying to get this to make sense.
[01:05:44.820 --> 01:05:50.180]  I'm telling you, that's what they do. That's what it says on their own bank's website.
[01:05:50.180 --> 01:05:53.180]  They tell you what they do.
[01:05:53.180 --> 01:05:54.180]  Stop just a second.
[01:05:54.180 --> 01:05:59.700]  They sell your note and they get the $100,000 by selling your promissory note, and then
[01:05:59.700 --> 01:06:06.860]  they use that money to cut the check to the seller of the house. Then the buyer pays them
[01:06:06.860 --> 01:06:09.260]  back again. It's ridiculous.
[01:06:09.260 --> 01:06:13.700]  That's not even true, Deborah. They don't get the money when they sell the note. The
[01:06:13.700 --> 01:06:23.500]  money's created as a checkbooking entry and it goes directly from the bank to the seller.
[01:06:23.500 --> 01:06:29.100]  Now that checkbooking entry, that money is technically yours created by your signature.
[01:06:29.100 --> 01:06:32.140]  So then they also sell the note on top of it.
[01:06:32.140 --> 01:06:35.100]  Then they go and they sell the note and they get another $100,000.
[01:06:35.100 --> 01:06:39.300]  Okay, yes. That's right. That's right. So it's even worse. That's right. I forgot about
[01:06:39.300 --> 01:06:40.300]  that part.
[01:06:40.300 --> 01:06:45.340]  Yeah, but the idea, when they sell the note, they sell the note on the condition that they
[01:06:45.340 --> 01:06:50.420]  pay it off back to the person who buys it as you pay them.
[01:06:50.420 --> 01:06:57.460]  No, Randy. That's not true. That's not the way it works. They sell it as a securities
[01:06:57.460 --> 01:07:01.180]  instrument. It turns into a debt instrument at that point.
[01:07:01.180 --> 01:07:02.620]  What's the value?
[01:07:02.620 --> 01:07:05.820]  It's a commodity that's worth something at that point.
[01:07:05.820 --> 01:07:12.820]  Yes, but it's a promissory note. They sell a promissory note.
[01:07:12.820 --> 01:07:18.540]  In the market, people apply speculative values to that because it all goes back to the signature.
[01:07:18.540 --> 01:07:25.220]  Think about it. If you have a famous author that has a book and they have a book signing,
[01:07:25.220 --> 01:07:31.780]  that book is worth a lot more money just simply because the author signed it. It's all about
[01:07:31.780 --> 01:07:38.300]  the signature, and they turn it into some kind of a securities instrument on its face.
[01:07:38.300 --> 01:07:41.580]  Yes, and I understand. After something I read today...
[01:07:41.580 --> 01:07:44.820]  Right, Randy? Raylor? Am I understanding this correctly?
[01:07:44.820 --> 01:07:51.620]  Well, okay. Look, you have 100,000. Bank A has 100,000. They turn around. They create
[01:07:51.620 --> 01:07:57.940]  a mortgage to you. You sign the note. They create 100,000 additional dollars. So now
[01:07:57.940 --> 01:08:04.620]  they have 200,000. The created money goes to the seller. They claim those created monies.
[01:08:04.620 --> 01:08:08.980]  Then they turn around. They take the note, and they sell it. Now, if they'd actually
[01:08:08.980 --> 01:08:13.740]  lent you the money that they had in the account, it would be more of a legitimate transaction.
[01:08:13.740 --> 01:08:18.700]  The problem is they don't lend you that money. They're lending you credit, your own credit
[01:08:18.700 --> 01:08:20.220]  back to you at interest.
[01:08:20.220 --> 01:08:21.220]  Yes.
[01:08:21.220 --> 01:08:24.420]  You're making this more complex than it is.
[01:08:24.420 --> 01:08:45.300]  No, that's how it works. I will send you dozens of links on mainstream banking websites that
[01:08:45.300 --> 01:08:51.220]  say exactly what Randy Raylor is saying. They admit it on their own websites.
[01:08:51.220 --> 01:08:58.060]  I understand they admit that. The guy just gives them a piece of paper with no value
[01:08:58.060 --> 01:09:03.180]  whatsoever. Here's this piece of paper. I'm going to give it to you, and you're never
[01:09:03.180 --> 01:09:09.380]  going to get anything of value for that piece of paper, and you're going to give me $100,000
[01:09:09.380 --> 01:09:10.380]  for that piece of paper.
[01:09:10.380 --> 01:09:17.300]  That's because of HJR 192, Randy. You can't pay off a debt. You can only discharge a debt.
[01:09:17.300 --> 01:09:21.460]  The guy that buys the note from Bank A is the one that's...
[01:09:21.460 --> 01:09:28.020] ... has the need to be paid back by the bank as they collect the funds from you, the borrower.
[01:09:28.020 --> 01:09:33.300]  Randy, you really have to see debt as money, too. You really have to see that.
[01:09:33.300 --> 01:09:38.700]  I just read Debt as Money today. No, I'm sorry. It wasn't Debt as Money. It was another deal
[01:09:38.700 --> 01:09:44.020]  on how all of this works, and that was the idea, and that's why there's a problem, because
[01:09:44.020 --> 01:09:49.740]  they sold these notes, and they were supposed to pay back the note as the money came in,
[01:09:49.740 --> 01:09:52.540]  but the money stopped coming in, so they couldn't pay the note.
[01:09:52.540 --> 01:09:58.340]  See, Randy, the thing is, you can't pay off a debt anymore anyway. It's against public
[01:09:58.340 --> 01:09:59.340]  policy that they...
[01:09:59.340 --> 01:10:00.340]  Playing with words with me.
[01:10:00.340 --> 01:10:01.340]  No, I'm not.
[01:10:01.340 --> 01:10:04.340]  You discharge the debt as the money comes in.
[01:10:04.340 --> 01:10:05.340]  Right.
[01:10:05.340 --> 01:10:06.340]  That's the problem.
[01:10:06.340 --> 01:10:13.540]  You're totally correct. I mean, but here's the thing. What is to say that B, the buyer
[01:10:13.540 --> 01:10:20.460]  of the note from A, actually paid any real funds for the note? Maybe they created a debt
[01:10:20.460 --> 01:10:27.300]  on itself to buy it, because remember, it's just a big old pushing around paper scheme.
[01:10:27.300 --> 01:10:28.300]  Exactly.
[01:10:28.300 --> 01:10:34.180]  I mean, now maybe somebody actually did have some funds on deposit that they earned, and
[01:10:34.180 --> 01:10:40.340]  they paid for this note. Now, they should be paid back, but the problem is that there's
[01:10:40.340 --> 01:10:44.180]  $200,000 created on a $100,000 note.
[01:10:44.180 --> 01:10:47.900]  I've been struggling to understand this for quite a while. It's finally beginning to make
[01:10:47.900 --> 01:10:50.900]  sense of how this can work.
[01:10:50.900 --> 01:10:53.060]  This is a fractional reserve system, Randy.
[01:10:53.060 --> 01:10:59.380]  It doesn't... Fractional reserve system doesn't make it make any sense whatsoever. Why would
[01:10:59.380 --> 01:11:07.060]  someone in a foreign country give us their value for nothing? Absolutely nothing.
[01:11:07.060 --> 01:11:11.620]  Well, let's bring Steve Skidmore into the conversation. Maybe he can explain it.
[01:11:11.620 --> 01:11:14.180]  I can explain it. This is real easy.
[01:11:14.180 --> 01:11:15.180]  Okay.
[01:11:15.180 --> 01:11:16.180]  Well, but the thing is...
[01:11:16.180 --> 01:11:20.940]  There is a promise to pay. You're buying a promise to pay.
[01:11:20.940 --> 01:11:21.940]  But the foreign countries...
[01:11:21.940 --> 01:11:24.780]  Exactly. You really are. You have it right.
[01:11:24.780 --> 01:11:30.940]  They do pay as they get paid. They have this value coming to them, and they factor it.
[01:11:30.940 --> 01:11:31.940]  This is just factoring.
[01:11:31.940 --> 01:11:32.940]  Steve, are you there?
[01:11:32.940 --> 01:11:33.940]  Yes.
[01:11:33.940 --> 01:11:40.660]  Okay, Steve, why don't you jump in here and talk about what you've seen with the fraud?
[01:11:40.660 --> 01:11:43.660]  Yeah. Beat some sense into me.
[01:11:43.660 --> 01:11:53.700]  Randy, nobody can beat sense into you. You're too big an old boy to beat on. No, actually,
[01:11:53.700 --> 01:11:59.420]  I'm having trouble wrapping my mind around the fractional reserve system. I understand
[01:11:59.420 --> 01:12:07.420]  the nuts and bolts of it, but how the machine works on the backside, I'm still... I don't
[01:12:07.420 --> 01:12:08.420]  know.
[01:12:08.420 --> 01:12:15.860]  That's what's beginning to make sense. This foreign country is buying a promise to pay.
[01:12:15.860 --> 01:12:19.740]  I'm saying, well, I got this debt owed to me, and these guys are going to be sending
[01:12:19.740 --> 01:12:25.300]  me this money. But I need dollars right now, so I'll tell you what I'll do. Let's make
[01:12:25.300 --> 01:12:31.660]  a deal. I got a $100,000 note. I'll sell it to you for 80, and then as this money comes
[01:12:31.660 --> 01:12:36.420]  to me, I'll give it to you. When you collect the whole thing, it'll take you more time,
[01:12:36.420 --> 01:12:38.420]  but you'll collect 20 grand.
[01:12:38.420 --> 01:12:45.420]  Right. What they do before they sell it, they try to season it a little bit. If the note
[01:12:45.420 --> 01:12:50.300]  is six months old, it's not worth very much because you haven't shown your potential to
[01:12:50.300 --> 01:12:55.540]  keep paying. But if it's two or three years old, then you've established a history of
[01:12:55.540 --> 01:13:02.340]  constant payments. Therefore, it makes that note more valuable on the SEC market.
[01:13:02.340 --> 01:13:07.980]  Exactly. When the guy buying the promissory note looks at it, he's saying, yeah, I'm going
[01:13:07.980 --> 01:13:15.980]  to get paid from this. It goes to, he has an expectation of having the debt that he
[01:13:15.980 --> 01:13:26.300]  creates discharged as the borrower pays in the funds. It goes to the guy at the end of
[01:13:26.300 --> 01:13:27.300]  the line.
[01:13:27.300 --> 01:13:28.300]  Right.
[01:13:28.300 --> 01:13:34.060]  Randy, let me see if I can jump in here and use you as the example to explain it to you.
[01:13:34.060 --> 01:13:40.900]  You have $100,000 in the bank. Deborah wants to buy a house for $100,000 and is going to
[01:13:40.900 --> 01:13:49.620]  take out a mortgage with you as a private lender. You guys do the note. You do the mortgage.
[01:13:49.620 --> 01:13:57.020]  She signs it. You give her your $100,000. She turns around or it goes through the transaction
[01:13:57.020 --> 01:14:03.320]  and it goes to the seller. She now has the piece of property. The seller has the $100,000.
[01:14:03.320 --> 01:14:10.980]  You have a promissory note. That's the way the transaction is supposed to be, but that's
[01:14:10.980 --> 01:14:18.260]  not what happens. If you're the bank, you never put up the $100,000. You kept your $100,000,
[01:14:18.260 --> 01:14:24.740]  the original $100,000, created the new $100,000 at a thin air. You gave it to the seller and
[01:14:24.740 --> 01:14:32.900]  you turn around and you sell the note to buyer B. Now, you've never risked one thin dime
[01:14:32.900 --> 01:14:40.700]  and you've been paid fees upfront and you may be paid fees to handle the mortgage payments,
[01:14:40.700 --> 01:14:48.260]  but that's the difference. They never put any money up. They have nothing at risk. Now,
[01:14:48.260 --> 01:14:57.820]  the guy that's buying the buyer B has an expectation that the mortgagee, Deborah, is going to pay
[01:14:57.820 --> 01:15:02.580]  him. That's the difference right there.
[01:15:02.580 --> 01:15:04.900]  What happens if he don't?
[01:15:04.900 --> 01:15:14.020]  Well, then it's the same situation as if it was just you. The problem comes into play
[01:15:14.020 --> 01:15:18.380]  is that the whole thing, because of what the bank's done, is a fraud on its face.
[01:15:18.380 --> 01:15:25.020]  Wait a minute. There is something in there. The bank has got that $100,000 that they kept.
[01:15:25.020 --> 01:15:27.020]  Well, it was always theirs.
[01:15:27.020 --> 01:15:37.100]  It becomes collateral. There's nothing that ties to that money. It's just their money.
[01:15:37.100 --> 01:15:38.100]  They never put it up.
[01:15:38.100 --> 01:15:44.420]  Yeah, that does not become collateral for the promissory note. How do the banks wind
[01:15:44.420 --> 01:15:50.260]  up going out of business when people don't pay the notes if the notes are sold to somebody
[01:15:50.260 --> 01:15:51.260]  else?
[01:15:51.260 --> 01:15:56.820]  Randy, you really got to see that video. Debt is money too. It will tell you this so straight
[01:15:56.820 --> 01:16:02.900]  up. It's not even funny. In 45 minutes, you'll know so much about how this works. You'll
[01:16:02.900 --> 01:16:05.660]  slap your forehead with a hammer out of frustration.
[01:16:05.660 --> 01:16:10.660]  Well, I think I'm understanding how it works. How did Countrywide go bankrupt?
[01:16:10.660 --> 01:16:12.660]  It's like a brilliant scam.
[01:16:12.660 --> 01:16:18.660]  Well, if this is so brilliant, how did Countrywide go bankrupt if they have no risk?
[01:16:18.660 --> 01:16:23.980]  They go bankrupt because they're holding more promises than they have money to pay.
[01:16:23.980 --> 01:16:30.780]  Wait a minute. You just said nothing they were holding was collateral.
[01:16:30.780 --> 01:16:38.460]  The only way that a bank can go bankrupt is if the Federal Reserve wants to turn the screws
[01:16:38.460 --> 01:16:47.300]  on them and call in the Reserve. The Federal Reserve Bank sets a limit. It used to be like
[01:16:47.300 --> 01:16:52.100]  they could fractionalize nine times. Now it's like 90 to 900. Who knows? It could be infinite
[01:16:52.100 --> 01:16:57.060]  at this point. It's whatever the Federal Reserve says at any particular given point in time
[01:16:57.060 --> 01:17:04.860]  that they have to have X percentage of reserves in comparison to how many signatures they
[01:17:04.860 --> 01:17:12.060]  have monetized. If they don't have enough, then the Federal Reserve Bank declares them
[01:17:12.060 --> 01:17:18.700]  bankrupt. That's what happens. It's all up to the Federal Reserve. What they do is they
[01:17:18.700 --> 01:17:24.420]  want to consolidate the smaller, they want to wipe out the smaller banks, consolidate
[01:17:24.420 --> 01:17:28.420]  the bigger banks. The bigger banks are eating up the smaller banks so that the people in
[01:17:28.420 --> 01:17:35.020]  the top control, upper echelon levels can stomp out the middle class, so to speak, of
[01:17:35.020 --> 01:17:36.020]  the banking system.
[01:17:36.020 --> 01:17:40.820]  Okay. Well, I'm trying to make this make sense. You're saying that the Reserve is not collateral.
[01:17:40.820 --> 01:17:41.820]  No.
[01:17:41.820 --> 01:17:42.820]  No.
[01:17:42.820 --> 01:17:43.820]  It never was.
[01:17:43.820 --> 01:17:48.060]  There's no claim against it at all. The bank can just do whatever it wants to with it.
[01:17:48.060 --> 01:17:50.900]  Yes. It was theirs to begin with.
[01:17:50.900 --> 01:17:55.540]  You just said they couldn't. If they don't have enough, if they don't have it there,
[01:17:55.540 --> 01:17:57.980]  then they get taken out by the Federal Reserve.
[01:17:57.980 --> 01:18:03.940]  Well, remember, Randy, that the Federal Reserve system is a public relations game, and sometimes
[01:18:03.940 --> 01:18:08.740]  they have to sacrifice one of the players to keep everybody in the musical chairs.
[01:18:08.740 --> 01:18:13.340]  How do they do it if the bank doesn't own anything?
[01:18:13.340 --> 01:18:20.100]  Because Randy, the problem is that they can only monetize so much. They can only create
[01:18:20.100 --> 01:18:26.500]  so much debt in comparison to what they have on reserve. The way that the Federal Reserve
[01:18:26.500 --> 01:18:31.100]  puts a bank out of business is that they can all of a sudden just change their policy at
[01:18:31.100 --> 01:18:37.300]  any point in time and say, oh, we just decided that you have to have 20% reserves now instead
[01:18:37.300 --> 01:18:42.900]  of 10, or you have to have 10% reserves now instead of five, and the Federal Reserve just
[01:18:42.900 --> 01:18:46.460]  decides that they're going to raise the bar, and they put the bank out of business. It's
[01:18:46.460 --> 01:18:47.460]  that simple.
[01:18:47.460 --> 01:18:51.180]  What is the point of the reserve?
[01:18:51.180 --> 01:18:52.180]  There is none.
[01:18:52.180 --> 01:18:53.180]  There is none anyway.
[01:18:53.180 --> 01:18:54.180]  Public relations.
[01:18:54.180 --> 01:18:55.180]  Yes.
[01:18:55.180 --> 01:18:56.180]  Public relations.
[01:18:56.180 --> 01:18:57.180]  Right.
[01:18:57.180 --> 01:18:58.180]  It's in the God in County show.
[01:18:58.180 --> 01:18:59.180]  What is the purported purpose?
[01:18:59.180 --> 01:19:03.860]  As a smoking mirror for the public to consume.
[01:19:03.860 --> 01:19:06.300]  What is the purported purpose of the reserve?
[01:19:06.300 --> 01:19:08.340]  Go read HJR 192.
[01:19:08.340 --> 01:19:15.300]  It is there to initiate the backing for the loans, but it does not show the purpose at
[01:19:15.300 --> 01:19:16.300]  all.
[01:19:16.300 --> 01:19:17.300]  Collateral.
[01:19:17.300 --> 01:19:18.300]  It's not collateral.
[01:19:18.300 --> 01:19:19.300]  It's collateral.
[01:19:19.300 --> 01:19:20.300]  No.
[01:19:20.300 --> 01:19:21.300]  Well, you call it what you want.
[01:19:21.300 --> 01:19:25.940]  No, it makes sense this way. You're using these strange terms that don't make sense.
[01:19:25.940 --> 01:19:26.940]  Okay, call it collateral.
[01:19:26.940 --> 01:19:33.820]  They're required to hold collateral, but they're only required to hold $1 on 10.
[01:19:33.820 --> 01:19:35.820]  Okay, there you go.
[01:19:35.820 --> 01:19:39.780]  You have enough, but it's collateral.
[01:19:39.780 --> 01:19:43.180]  If the loan doesn't pay, the reserve pays the loan.
[01:19:43.180 --> 01:19:44.180]  No.
[01:19:44.180 --> 01:19:46.420]  It's not what happens.
[01:19:46.420 --> 01:19:49.020]  That is the public relations of it, Randy.
[01:19:49.020 --> 01:19:50.020]  You have it right there.
[01:19:50.020 --> 01:19:51.020]  It's not the truth.
[01:19:51.020 --> 01:19:52.020]  That's the point.
[01:19:52.020 --> 01:19:54.100]  All the banks did was exchange book entries.
[01:19:54.100 --> 01:19:55.380]  I understand that.
[01:19:55.380 --> 01:19:56.380]  I'm trying to...
[01:19:56.380 --> 01:19:57.380]  The only time...
[01:19:57.380 --> 01:20:01.100]  You're making this a whole lot more complicated than it needs to be.
[01:20:01.100 --> 01:20:02.100]  No, Randy.
[01:20:02.100 --> 01:20:03.100]  It's actually a lot...
[01:20:03.100 --> 01:20:10.260]  You're saying collateral is not collateral, and money is not money, and nothing is nothing.
[01:20:10.260 --> 01:20:12.020]  This all makes no sense this way.
[01:20:12.020 --> 01:20:19.140]  If that reserve is not there for collateral, then what is it?
[01:20:19.140 --> 01:20:20.140]  Public relations.
[01:20:20.140 --> 01:20:24.740]  It's there to create it.
[01:20:24.740 --> 01:20:26.540]  You're mixing up issues here.
[01:20:26.540 --> 01:20:27.540]  No.
[01:20:27.540 --> 01:20:33.020]  I'm telling you that it's there because that's the requirement the federal reserve is...
[01:20:33.020 --> 01:20:35.140]  You don't know the opinion of what it is.
[01:20:35.140 --> 01:20:36.580]  They don't abide by any of it.
[01:20:36.580 --> 01:20:38.740]  It's just the same as what you deal with in the court.
[01:20:38.740 --> 01:20:39.740]  Wait a minute.
[01:20:39.740 --> 01:20:40.740]  This is not Randy Raylor's opinion.
[01:20:40.740 --> 01:20:44.540]  You can read that on the Federal Reserve website, Randy.
[01:20:44.540 --> 01:20:45.540]  Okay.
[01:20:45.540 --> 01:20:48.500]  Then there's no way for me to make any sense out of this.
[01:20:48.500 --> 01:20:49.500]  This is just fairyland.
[01:20:49.500 --> 01:20:50.500]  It is fairyland.
[01:20:50.500 --> 01:20:53.500]  That's the whole point of the fiat currency.
[01:20:53.500 --> 01:20:57.260]  Absolutely no sense to anything that's going on here.
[01:20:57.260 --> 01:20:58.260]  Nothing makes sense.
[01:20:58.260 --> 01:21:00.260]  Well, it makes sense to me.
[01:21:00.260 --> 01:21:04.700]  Randy, if you were one of the insiders, it'd make a lot of sense to you and you'd be very
[01:21:04.700 --> 01:21:05.700]  real.
[01:21:05.700 --> 01:21:06.700]  Yeah.
[01:21:06.700 --> 01:21:09.700]  While I just get to grab money and steal it and stuff it in my pocket, then there's absolutely
[01:21:09.700 --> 01:21:14.820]  no... Why are we even bothering to try to make sense out of this?
[01:21:14.820 --> 01:21:19.460]  Are you not watching them do that to this minute right now?
[01:21:19.460 --> 01:21:25.540]  If I don't know, right now I have absolutely no idea what's going on.
[01:21:25.540 --> 01:21:30.020]  I've listened to people talk about this and talk about this and always running around
[01:21:30.020 --> 01:21:34.140]  in circles just simply accusing everybody of fraud.
[01:21:34.140 --> 01:21:38.260]  Every time I ask a direct question, the answer is, oh, it's all fraud.
[01:21:38.260 --> 01:21:41.260]  Well, how specifically do they get to the fraud?
[01:21:41.260 --> 01:21:46.340]  The only reason I know this stuff is because I've read it off of their publications.
[01:21:46.340 --> 01:21:47.860]  I can't make this stuff up.
[01:21:47.860 --> 01:21:48.860]  It's crazy.
[01:21:48.860 --> 01:21:49.860]  I'm not... Okay.
[01:21:49.860 --> 01:21:54.620]  I'm asking you, how do they get to the fraud?
[01:21:54.620 --> 01:22:00.340]  Well, and the disturbing part of it is, and I think this is maybe kind of what Randy's
[01:22:00.340 --> 01:22:06.420]  getting at, is people's lives are being normal people, everyday people.
[01:22:06.420 --> 01:22:11.820]  Their lives are being affected in very negative ways.
[01:22:11.820 --> 01:22:14.500]  I mean, their whole lives are changing.
[01:22:14.500 --> 01:22:21.060]  Their homes are being taken from them, okay, based on nothing.
[01:22:21.060 --> 01:22:31.860]  I mean, it begins with nothing, just them signing the document, and that's the disturbing
[01:22:31.860 --> 01:22:32.860]  part of it.
[01:22:32.860 --> 01:22:39.540]  You know, Randy, if I had to say one thing, I would say, in a way you're correct about
[01:22:39.540 --> 01:22:47.220]  the collateral, the problem is that the system doesn't play within its own set of rules,
[01:22:47.220 --> 01:22:55.860]  and so the idea that there was some kind of a check with the collateral, the equity that
[01:22:55.860 --> 01:23:00.980]  the bank raised to start the lending process to begin with, had a validity, but it doesn't
[01:23:00.980 --> 01:23:06.020]  anymore because they just don't care.
[01:23:06.020 --> 01:23:09.700]  That doesn't help me understand the structure.
[01:23:09.700 --> 01:23:13.540]  Well, what about the structure don't you get?
[01:23:13.540 --> 01:23:19.540]  I don't care how corrupt they are.
[01:23:19.540 --> 01:23:24.780]  I'm trying to understand the structure, and you're telling me what is, isn't what it is
[01:23:24.780 --> 01:23:30.700]  because somebody else doesn't do what he's supposed to do.
[01:23:30.700 --> 01:23:40.820]  What was originally the reason that a bank had to have reserve?
[01:23:40.820 --> 01:23:44.460]  The bank had to, it's kind of hard to explain in this time.
[01:23:44.460 --> 01:23:46.820]  This is what happened in the bankruptcy.
[01:23:46.820 --> 01:23:51.060]  This is what happened in the bankruptcy with Roosevelt, okay?
[01:23:51.060 --> 01:24:00.900]  This whole setup happened back in the 30s, okay, when they confiscated everyone's gold
[01:24:00.900 --> 01:24:09.140]  and they wrote a law that said that they interfere with private contracts, okay, which is against
[01:24:09.140 --> 01:24:17.220]  the constitution, they said that all contracts existing right now where the lender is demanding
[01:24:17.220 --> 01:24:23.380]  to be paid in gold or silver or other commodities, those contracts are null and void, and you
[01:24:23.380 --> 01:24:26.180]  can't make any more contracts like that anymore.
[01:24:26.180 --> 01:24:28.300]  You cannot pay a debt anymore.
[01:24:28.300 --> 01:24:33.980]  You can only discharge a debt with what we're saying here is legal tender, which is a promise
[01:24:33.980 --> 01:24:34.980]  to pay.
[01:24:34.980 --> 01:24:40.140]  Everyone is just passing around bogus promises to pay, okay, because it all goes back to
[01:24:40.140 --> 01:24:45.700]  the bankruptcy of the 30s, and that's going, it's in the law, Randy.
[01:24:45.700 --> 01:24:49.980]  I understand that's in the law, but you didn't answer the question I asked you.
[01:24:49.980 --> 01:24:50.980]  Come up with a different answer.
[01:24:50.980 --> 01:24:54.540]  It's in that law that they set up the system.
[01:24:54.540 --> 01:25:03.180]  What was the original purpose of a bank having reserve?
[01:25:03.180 --> 01:25:10.620]  I should be able to start a bank and lend out millions and millions and have not a penny.
[01:25:10.620 --> 01:25:15.740]  So that, like Randy Raylor said, to try to have a check upon the lending, but the thing
[01:25:15.740 --> 01:25:18.940]  is it's a flawed design to begin with, because they-
[01:25:18.940 --> 01:25:20.660]  I'm not asking if it's flawed.
[01:25:20.660 --> 01:25:21.660]  Wait, wait, wait.
[01:25:21.660 --> 01:25:26.180]  The purpose of the reserve was if there was a run on the bank and people wanted to come
[01:25:26.180 --> 01:25:27.460]  in and withdraw their money.
[01:25:27.460 --> 01:25:28.460]  Exactly.
[01:25:28.460 --> 01:25:31.340]  The bank had to have enough funds on hand to pay back the depositors.
[01:25:31.340 --> 01:25:32.340]  Exactly.
[01:25:32.340 --> 01:25:33.340]  Finally.
[01:25:33.340 --> 01:25:35.220]  That's exactly the answer I was trying to-
[01:25:35.220 --> 01:25:37.620]  Well, that's only one of the reasons.
[01:25:37.620 --> 01:25:41.380]  But the problem is, is there is no money to pay back the depositors.
[01:25:41.380 --> 01:25:48.060]  I understand that part, but this doesn't make sense if you run around in circles and say
[01:25:48.060 --> 01:25:51.740]  nothing is what it appears to be, nothing's like you think it is-
[01:25:51.740 --> 01:25:54.460]  Randy, you're not, I don't think you're listening to us very well.
[01:25:54.460 --> 01:25:55.460]  I think-
[01:25:55.460 --> 01:25:56.460]  This is real simple.
[01:25:56.460 --> 01:26:00.980]  Yeah, it is, and I think that Randy Raylor and Steve Skidmore and myself and Eddie are
[01:26:00.980 --> 01:26:02.580]  explaining it pretty well.
[01:26:02.580 --> 01:26:04.540]  Yeah, everything's a fraud.
[01:26:04.540 --> 01:26:05.540]  I've got that.
[01:26:05.540 --> 01:26:07.740]  I've got it, it's all fraud.
[01:26:07.740 --> 01:26:14.980]  Well, speaking of fraud, Steve, why don't you talk about some of the actual technical
[01:26:14.980 --> 01:26:20.540]  aspects of fraud that you have discovered in your research and your dealings?
[01:26:20.540 --> 01:26:23.020]  Oh, God, where do you start?
[01:26:23.020 --> 01:26:27.140]  Okay, because when you called in earlier, you were saying you wanted to discuss things
[01:26:27.140 --> 01:26:29.460]  like that, so please go ahead.
[01:26:29.460 --> 01:26:36.540]  Well, in the mortgage industry, Charlotte, you had mentioned that there's usually only
[01:26:36.540 --> 01:26:41.500]  one set of signatures on the document.
[01:26:41.500 --> 01:26:50.820]  This is true, but I was doing a quick search for the statute, but there are statutes stating
[01:26:50.820 --> 01:26:58.620]  that all you need is one signature on the document, but there is a lady out there named
[01:26:58.620 --> 01:27:01.540]  Karen Tappert.
[01:27:01.540 --> 01:27:08.840]  She has realized this and kind of centered in on some aspects of that, and she's come
[01:27:08.840 --> 01:27:10.820]  up with six documents.
[01:27:10.820 --> 01:27:15.180]  Let me scroll down here.
[01:27:15.180 --> 01:27:20.340]  I have posted these documents, and you folks out there can go look at them, do what you
[01:27:20.340 --> 01:27:21.340]  want with them.
[01:27:21.340 --> 01:27:28.480]  You so fit your own risk, none of this is legal advice and all that, but you can go
[01:27:28.480 --> 01:27:38.940]  to sujurisclub.net, that's S-U-I-J-U-R-I-S, club.net, and click on the estate protection
[01:27:38.940 --> 01:27:47.940]  and asset planning form, and then click on the Karen... Let's see, what am I reading
[01:27:47.940 --> 01:27:48.940]  here?
[01:27:48.940 --> 01:27:56.700]  Foreclosure remedy-Karen Tappert method, and what she has compiled is a notice of revocation
[01:27:56.700 --> 01:28:04.060]  of power of attorney, notice of right to counsel, power of attorney revocation removal affidavit,
[01:28:04.060 --> 01:28:11.020]  qualified written request, revised full reconveyance, and revised grant deed.
[01:28:11.020 --> 01:28:18.900]  There is also a... You'd have to look for it, but there's also an interview with Ms.
[01:28:18.900 --> 01:28:27.300]  Tappert on some kind of conference call thing that she gives her dissertation, how she came
[01:28:27.300 --> 01:28:34.540]  about this knowledge, how she figured out her process, but what I actually called in
[01:28:34.540 --> 01:28:43.820]  for was I was listening towards the beginning of the conversation, and to just throw a wrench
[01:28:43.820 --> 01:28:44.820]  in the gears.
[01:28:44.820 --> 01:28:51.220]  There is some behind the scenes, closed doors legislation being pushed through by one of
[01:28:51.220 --> 01:28:57.100]  the country's leading debt collectors slash law firms.
[01:28:57.100 --> 01:29:03.940]  This, if you want to call it a law firm or debt collecting agency, whatever it is, Barrett
[01:29:03.940 --> 01:29:12.940]  Burke, they are today, they go under the business name Barrett Burke, Barrett, Daffin, Frappier,
[01:29:12.940 --> 01:29:15.340]  Turner, and Engel.
[01:29:15.340 --> 01:29:22.180]  These are people I have intimate knowledge of.
[01:29:22.180 --> 01:29:29.500]  They were Barrett, Burke, Wilson, Castle, and Daffin.
[01:29:29.500 --> 01:29:40.100]  A few interesting things, Michael C. Barrett, excuse me, let me read this right quick.
[01:29:40.100 --> 01:29:46.260]  Just in 1990, Barrett Burke is one of the leading providers of trustee administrative
[01:29:46.260 --> 01:29:49.940]  processing and legal services in the mortgage industry.
[01:29:49.940 --> 01:29:55.620]  The firm has a long-standing client relationship with the most dominant mortgage industry leaders,
[01:29:55.620 --> 01:29:57.920]  servicers, and investors.
[01:29:57.920 --> 01:30:03.540]  National Default Exchange will assume from Barrett Burke the responsibility of providing
[01:30:03.540 --> 01:30:09.060]  trustee and administrative processing services to the firm and its clients.
[01:30:09.060 --> 01:30:14.340]  The company will be led by Michael C. Barrett, chairman and CEO.
[01:30:14.340 --> 01:30:21.460]  Now a little bit more interest in some of their political moves, it would seem that
[01:30:21.460 --> 01:30:35.300]  Michael C. Barrett and James C. Frappier on 313-08 each donated $5,000 to the Mortgage
[01:30:35.300 --> 01:30:39.900]  Bankers Association Political Action Committee.
[01:30:39.900 --> 01:30:47.580]  Mr. Barrett has been very active in lobbying here lately to Congress to pass legislation
[01:30:47.580 --> 01:30:54.740]  to make it more difficult and more costly for the homeowners to bring litigation to
[01:30:54.740 --> 01:31:06.580]  the mortgage companies, claiming that it's being too costly on the banks and the attorney
[01:31:06.580 --> 01:31:14.620]  firms representing the banks or alleged lending institutions, trying to fight these little
[01:31:14.620 --> 01:31:20.780]  fires, these little weasel people coming in with all these false claims and frivolous
[01:31:20.780 --> 01:31:25.580]  lawsuits, trying to keep their homes.
[01:31:25.580 --> 01:31:32.500]  This information I got from an attorney in Houston and I've pressed him for more information
[01:31:32.500 --> 01:31:37.620]  and he's been very reluctant to let me know anything else if he knows anything else.
[01:31:37.620 --> 01:31:45.740]  He just knows that Mr. Barrett, Barrett, Daffin, Frappier, Turner, and Engel, to reiterate,
[01:31:45.740 --> 01:31:50.020]  one of the largest law firms representing alleged lenders, particularly in the mortgage
[01:31:50.020 --> 01:31:55.220]  industry, here's the guy.
[01:31:55.220 --> 01:31:58.220]  These people are evil.
[01:31:58.220 --> 01:32:02.060]  My whole point is these people are evil.
[01:32:02.060 --> 01:32:07.060]  They are pushing as hard as they can to make it as difficult and as costly for the homeowner
[01:32:07.060 --> 01:32:10.980]  because they know what's coming.
[01:32:10.980 --> 01:32:12.660]  They know.
[01:32:12.660 --> 01:32:13.660]  They did it.
[01:32:13.660 --> 01:32:14.660]  They helped.
[01:32:14.660 --> 01:32:20.200]  They're trying to make it more difficult to hold back the flood of people that is fixing
[01:32:20.200 --> 01:32:28.380]  to hit the courts because word grows, knowledge grows exponentially.
[01:32:28.380 --> 01:32:31.940]  People are waking up to this fractional reserve system.
[01:32:31.940 --> 01:32:43.980]  They're waking up to all the fraud being committed by the finger or branch entities
[01:32:43.980 --> 01:32:51.300]  of the Federal Reserve government and that would go even into so far as insurance companies
[01:32:51.300 --> 01:33:01.620]  and this all goes back in this snake chasing his tail, infinite loop of the banking industry.
[01:33:01.620 --> 01:33:05.740]  It's based on nothing, nothing.
[01:33:05.740 --> 01:33:13.300]  It's based on people going to a closing, putting their name on a piece of paper and then God
[01:33:13.300 --> 01:33:18.780]  only knows what happens to that piece of paper but somebody's butt's held in the sling and
[01:33:18.780 --> 01:33:27.460]  nobody seems to want to claim to be the holder in due course once you've racked up a bunch
[01:33:27.460 --> 01:33:37.260]  of violations, let's say TILA violations, RESPA, HOPA, Fair Debt Collection Practices Act violations.
[01:33:37.260 --> 01:33:43.420]  Once you find the holder in due course, if they are the ones foreclosing on you, now
[01:33:43.420 --> 01:33:49.340]  you've got somebody that you can hold liable for these violations but once you... I have
[01:33:49.340 --> 01:33:50.340]  the understanding.
[01:33:50.340 --> 01:33:55.220]  I haven't done it myself but I have the understanding that once you present this to a judge in such
[01:33:55.220 --> 01:34:02.420]  a light, nobody seems to want to be the holder in due course anymore.
[01:34:02.420 --> 01:34:08.860]  That alleged note then becomes a hot potato of biblical proportion.
[01:34:08.860 --> 01:34:10.420]  Yep.
[01:34:10.420 --> 01:34:15.980]  It's time to pour the gas on.
[01:34:15.980 --> 01:34:16.980]  It's time to...
[01:34:16.980 --> 01:34:17.980]  I agree.
[01:34:17.980 --> 01:34:24.460]  It's really time that people start digging into their notes, digging into their documents,
[01:34:24.460 --> 01:34:29.740]  reading them for themselves and finding out what's going on and hold these people's feet
[01:34:29.740 --> 01:34:30.740]  to the fire.
[01:34:30.740 --> 01:34:31.740]  Yes.
[01:34:31.740 --> 01:34:41.540]  That's why I brought Charlotte to come on because she can show them what to look for
[01:34:41.540 --> 01:34:45.060]  so you know how to hold her feet to the fire.
[01:34:45.060 --> 01:34:54.820]  Even if this attorney is lobbying to make it more difficult, he has a very large problem
[01:34:54.820 --> 01:34:56.620]  and it goes to fraud.
[01:34:56.620 --> 01:35:04.180]  If they change it so that it's harder to sue for fraud in the mortgage area, they're going
[01:35:04.180 --> 01:35:11.980]  to change it for everything and it will disrupt the entire legal system.
[01:35:11.980 --> 01:35:13.580]  He's not going to get this done.
[01:35:13.580 --> 01:35:16.500]  Even if he gets something passed, it won't stand.
[01:35:16.500 --> 01:35:23.140]  I think all it's going to do is make people more angry and make them more willing to fight.
[01:35:23.140 --> 01:35:24.140]  That would be my hope.
[01:35:24.140 --> 01:35:30.980]  Well, and don't forget the other side because there is another side to this.
[01:35:30.980 --> 01:35:38.900]  I was reading on it that everyone counts the phrase predatory lenders that is still hot
[01:35:38.900 --> 01:35:41.140]  and heavy out in the industry.
[01:35:41.140 --> 01:35:51.660]  There are people that are lobbying still for litigation and to make the regulations more
[01:35:51.660 --> 01:35:58.340]  strict on the lenders because of all the predatory lending that they had in the past and continue
[01:35:58.340 --> 01:36:00.380]  to do.
[01:36:00.380 --> 01:36:09.060]  I agree even if Barrett and his firm is trying to make some real changes to where it's harder
[01:36:09.060 --> 01:36:15.340]  for people to go after the institutions, the other side of the aisle is doing the same
[01:36:15.340 --> 01:36:21.060]  thing to try to make it harder on the lender to continue to make the predatory loans.
[01:36:21.060 --> 01:36:22.060]  Yes.
[01:36:22.060 --> 01:36:23.060]  It's a counter-attack.
[01:36:23.060 --> 01:36:24.060]  Yes.
[01:36:24.060 --> 01:36:25.060]  Exactly.
[01:36:25.060 --> 01:36:32.140]  To just comment on what you were saying a minute ago, Steve, I want to read a quote
[01:36:32.140 --> 01:36:35.380]  here which I'm sure many of our listeners are familiar with.
[01:36:35.380 --> 01:36:40.860]  It is well enough that the people of the nation do not understand our banking and monetary
[01:36:40.860 --> 01:36:47.140]  system for if they did, I believe there would be a revolution before tomorrow morning as
[01:36:47.140 --> 01:36:49.140]  Henry Ford.
[01:36:49.140 --> 01:36:59.700]  Also, give me control of the nation's monetary system, the issue of a nation's currency.
[01:36:59.700 --> 01:37:01.700]  Yes, exactly Rothschild.
[01:37:01.700 --> 01:37:02.700]  Rothschild.
[01:37:02.700 --> 01:37:06.660]  He also said, I want to own nothing and control everything.
[01:37:06.660 --> 01:37:11.620]  It would seem that his progeny has or real close to it.
[01:37:11.620 --> 01:37:14.020]  But I'm going to let you guys go.
[01:37:14.020 --> 01:37:15.020]  I'm sure you got more callers.
[01:37:15.020 --> 01:37:16.020]  Thanks, Steve.
[01:37:16.020 --> 01:37:17.020]  Thank you for the time.
[01:37:17.020 --> 01:37:21.780]  Steve, before I go, is this the infamous Charla that you've been telling me so much about?
[01:37:21.780 --> 01:37:23.580]  The one and only.
[01:37:23.580 --> 01:37:25.180]  Well, hello, Charla.
[01:37:25.180 --> 01:37:30.580]  It's been a very large pleasure of mine to have made your acquaintance even in such a
[01:37:30.580 --> 01:37:31.580]  light.
[01:37:31.580 --> 01:37:34.580]  Well, thank you, Steve, and I hope to talk to you again soon.
[01:37:34.580 --> 01:37:35.580]  We'll do.
[01:37:35.580 --> 01:37:36.580]  Bye, guys.
[01:37:36.580 --> 01:37:37.580]  Bye, Steve.
[01:37:37.580 --> 01:37:38.580]  Bye.
[01:37:38.580 --> 01:37:42.140]  There's another Rothschild quote you missed, give me control of a nation's money and I
[01:37:42.140 --> 01:37:43.620]  care not who makes its laws.
[01:37:43.620 --> 01:37:45.620]  That's what Steve was just saying, right?
[01:37:45.620 --> 01:37:46.620]  Yes.
[01:37:46.620 --> 01:37:52.020]  All right, and I want to go back to Charla also, but quickly I want to bring Russell
[01:37:52.020 --> 01:37:53.020]  up.
[01:37:53.020 --> 01:37:54.020]  I believe this is Russell Mortland.
[01:37:54.020 --> 01:37:55.020]  Russell, are you there?
[01:37:55.020 --> 01:37:56.020]  Hey, what's up?
[01:37:56.020 --> 01:37:57.020]  Hey.
[01:37:57.020 --> 01:37:58.020]  What do you have for us?
[01:37:58.020 --> 01:38:01.020]  I haven't heard anybody mention public policy.
[01:38:01.020 --> 01:38:02.020]  Yes, I did.
[01:38:02.020 --> 01:38:07.020]  I mentioned the public policy, the HDR192, that's what I was telling Randy earlier.
[01:38:07.020 --> 01:38:11.020]  Well, I'm just trying to say that this whole thing is set under public policy.
[01:38:11.020 --> 01:38:12.020]  Right.
[01:38:12.020 --> 01:38:13.020]  Public policy is based on fraud.
[01:38:13.020 --> 01:38:14.020]  Yep.
[01:38:14.020 --> 01:38:21.020]  Also, that Barrett law firm and stuff, I mean, I bet you a dollar that this man's been quite
[01:38:21.020 --> 01:38:28.020]  as well up there in his law firm and stuff, has never had a bar grievance filed against
[01:38:28.020 --> 01:38:29.020]  him.
[01:38:29.020 --> 01:38:33.020]  I mean, if somebody wants to take that law firm down, all they've got to do is put off
[01:38:33.020 --> 01:38:37.020]  the information on the Internet and get these people's names and stuff.
[01:38:37.020 --> 01:38:42.020]  Half a dozen people start feeling bar grievances and stuff, and that law firm won't exist
[01:38:42.020 --> 01:38:43.020]  later on.
[01:38:43.020 --> 01:38:46.020]  And there won't be no lobbying and stuff then.
[01:38:46.020 --> 01:38:51.020]  Yeah, but they'll just open up another one the next day.
[01:38:51.020 --> 01:38:52.020]  Well, yeah.
[01:38:52.020 --> 01:38:55.020]  But it'll be costly for them.
[01:38:55.020 --> 01:38:56.020]  That's right.
[01:38:56.020 --> 01:39:02.020]  I'm just saying that this is a way to start showing these people that we mean business
[01:39:02.020 --> 01:39:06.020]  and fight back at them and stuff, and once you start shutting down four or five of these
[01:39:06.020 --> 01:39:12.020]  things in a row, other people are not going to be so eager to come and replace them because
[01:39:12.020 --> 01:39:15.020]  they're going to see what's happening.
[01:39:15.020 --> 01:39:20.020]  I mean, the American Bar Association would almost have to change their grievance process
[01:39:20.020 --> 01:39:22.020]  to stop it.
[01:39:22.020 --> 01:39:26.020]  And I'd like to see how they do that.
[01:39:26.020 --> 01:39:27.020]  Yeah.
[01:39:27.020 --> 01:39:29.020]  Because they change the grievance process.
[01:39:29.020 --> 01:39:33.020]  The insurance company is going to change their evaluation procedures.
[01:39:33.020 --> 01:39:36.020]  I don't think it'll help them.
[01:39:36.020 --> 01:39:41.020]  That's why I say we can go after these foreclosure law firms, and we can go after these law
[01:39:41.020 --> 01:39:44.020]  firms that are doing the property taxes.
[01:39:44.020 --> 01:39:49.020]  If we shut down the law firms, they've got nobody to turn around and come back after us
[01:39:49.020 --> 01:39:54.020]  for taxes because as soon as they want that tax money, then you start hearing from the
[01:39:54.020 --> 01:39:56.020]  law firm.
[01:39:56.020 --> 01:39:59.020]  And as soon as they want to foreclose and stuff and things like that, that's when you
[01:39:59.020 --> 01:40:01.020]  start hearing from the law firms.
[01:40:01.020 --> 01:40:06.020]  If you shut them down there instead of worrying about the companies or the tax assessor
[01:40:06.020 --> 01:40:11.020]  or the collector, then that's where we're going to have the biggest bite taking out
[01:40:11.020 --> 01:40:14.020]  of these people.
[01:40:14.020 --> 01:40:15.020]  I kind of agree with that.
[01:40:15.020 --> 01:40:21.020]  You're going to make litigation so expensive because the law firms, when they start getting
[01:40:21.020 --> 01:40:26.020]  hit really hard and it starts costing them more, they're going to charge more, and it
[01:40:26.020 --> 01:40:28.020]  will become too expensive to cheat us.
[01:40:28.020 --> 01:40:30.020]  That would be a nice thing to see.
[01:40:30.020 --> 01:40:31.020]  Well, it's not just that.
[01:40:31.020 --> 01:40:36.020]  I mean, they've entered into contracts with these property tax people and these mortgage
[01:40:36.020 --> 01:40:40.020]  companies and stuff, and then when all of a sudden they get bar grievances and stuff
[01:40:40.020 --> 01:40:45.020]  filed against them and they can't practice law anymore and stuff, then there goes the
[01:40:45.020 --> 01:40:48.020]  contract and they've got to go find another law firm.
[01:40:48.020 --> 01:40:50.020]  Yeah, that's what I mean.
[01:40:50.020 --> 01:40:55.020]  It's going to cost these guys so much to adjudicate these cases.
[01:40:55.020 --> 01:41:01.020]  It would be cheaper to stop cheating people and stop getting sued because it's so expensive
[01:41:01.020 --> 01:41:04.020]  just to hire attorneys to try to protect yourself.
[01:41:04.020 --> 01:41:08.020]  And certainly they'll try to settle out of court with these kinds of issues because they
[01:41:08.020 --> 01:41:13.020]  certainly don't want any court rulings in place, making a ruling on the fundamental
[01:41:13.020 --> 01:41:17.020]  nature of our financial monetary banking system.
[01:41:17.020 --> 01:41:22.020]  I did want to add in here at one point, I just got a chat from my call screener.
[01:41:22.020 --> 01:41:25.020]  We have a caller on the line that's in the middle of a foreclosure right now who had
[01:41:25.020 --> 01:41:29.020]  some questions for our guests.
[01:41:29.020 --> 01:41:31.020]  I'll let you go.
[01:41:31.020 --> 01:41:32.020]  Okay.
[01:41:32.020 --> 01:41:33.020]  Thanks, Russell.
[01:41:33.020 --> 01:41:34.020]  Thanks, Russell.
[01:41:34.020 --> 01:41:35.020]  Okay.
[01:41:35.020 --> 01:41:37.020]  This is Al from Texas.
[01:41:37.020 --> 01:41:40.020]  I'm sorry, Al from Florida.
[01:41:40.020 --> 01:41:41.020]  Hi.
[01:41:41.020 --> 01:41:42.020]  Hi.
[01:41:42.020 --> 01:41:43.020]  Are you listening?
[01:41:43.020 --> 01:41:44.020]  Yes.
[01:41:44.020 --> 01:41:45.020]  Go ahead.
[01:41:45.020 --> 01:41:46.020]  Okay.
[01:41:46.020 --> 01:41:47.020]  Thank you.
[01:41:47.020 --> 01:41:52.020]  I'm a third friend of Christian Walters, so we've been working closely and we had an
[01:41:52.020 --> 01:42:00.020]  experience about a month ago where we wanted to become a plaintiff in the case with this
[01:42:00.020 --> 01:42:07.020]  foreclosure, and that was done in June, the beginning of June, and at the beginning of
[01:42:07.020 --> 01:42:09.020]  June they made a law.
[01:42:09.020 --> 01:42:14.020]  How did you get standing to become a plaintiff in the foreclosure?
[01:42:14.020 --> 01:42:21.020]  Was this a foreclosure against you or someone else and you tried to intervene in the case?
[01:42:21.020 --> 01:42:22.020]  Right.
[01:42:22.020 --> 01:42:26.020]  We were the defendants, and based on...
[01:42:26.020 --> 01:42:33.020]  I'm not sure how to explain this basically, but as a defendant, I think we have to just
[01:42:33.020 --> 01:42:39.020]  went through the motions, but as a plaintiff, in order to become a plaintiff on the grounds
[01:42:39.020 --> 01:42:48.020]  that we were pursuing, we had to go from $300, which was the cost prior to this new law that
[01:42:48.020 --> 01:42:54.020]  was passed by Governor Chris in Florida.
[01:42:54.020 --> 01:43:02.020]  There was a law stating basically that now instead of being $300, the cost to become
[01:43:02.020 --> 01:43:12.020]  to put in a claim in any real estate related case, it would cost $1,900 instead of $300,
[01:43:12.020 --> 01:43:19.020]  so when I went to try to put in the case to become a plaintiff against the bank, the lady
[01:43:19.020 --> 01:43:26.020]  says, you need $1,900 or almost $2,000 just to initiate the case, and that just happened
[01:43:26.020 --> 01:43:33.020]  like a day or two before because... and I was saying just what made this happen was
[01:43:33.020 --> 01:43:39.020]  Charlie Chris passed this law, which I guess he must be in cahoots with these bankers.
[01:43:39.020 --> 01:43:40.020]  Okay.
[01:43:40.020 --> 01:43:41.020]  Back up.
[01:43:41.020 --> 01:43:42.020]  Sorry.
[01:43:42.020 --> 01:43:43.020]  Sorry.
[01:43:43.020 --> 01:43:46.020]  Those guys got daught for one second.
[01:43:46.020 --> 01:43:47.020]  Okay.
[01:43:47.020 --> 01:43:50.020]  Just back up a little bit, please.
[01:43:50.020 --> 01:43:51.020]  Okay.
[01:43:51.020 --> 01:43:59.020]  Well, basically what I'm saying is that they changed the law that if you want to initiate
[01:43:59.020 --> 01:44:07.020]  to be in the position of a plaintiff in a court in a case related to mortgages in Florida,
[01:44:07.020 --> 01:44:15.020]  instead of paying $300-something to open the case, you have to pay $1,900, almost $2,000
[01:44:15.020 --> 01:44:20.020]  to do the same thing, getting a lot of people more difficult to come up with $2,000 just
[01:44:20.020 --> 01:44:27.020]  to start a case where there will be a plaintiff against the bank, especially what I'm saying.
[01:44:27.020 --> 01:44:33.020]  That sounds like what this other attorney was trying to accomplish.
[01:44:33.020 --> 01:44:34.020]  Right.
[01:44:34.020 --> 01:44:37.020]  That certainly needs to be challenged because...
[01:44:37.020 --> 01:44:43.020]  Well, they're getting to the big leaders, the political leaders, the congress people,
[01:44:43.020 --> 01:44:52.020]  these big people that are making decisions without everybody, anyone's input of saying
[01:44:52.020 --> 01:44:53.020]  what they can do.
[01:44:53.020 --> 01:44:56.020]  There should be, definitely should be a way to fight this back.
[01:44:56.020 --> 01:45:06.020]  Well, this needs to be challenged on a constitutional basis as it denies the citizen the right to
[01:45:06.020 --> 01:45:08.020]  petition the court for redress of grievance.
[01:45:08.020 --> 01:45:13.020]  This kind of issue has been handled before by the courts.
[01:45:13.020 --> 01:45:19.020]  It's not uncommon for legislatures to pass laws they absolutely know are unconstitutional
[01:45:19.020 --> 01:45:21.020]  and will never stand.
[01:45:21.020 --> 01:45:25.020]  A lot of people get beat up in the meantime.
[01:45:25.020 --> 01:45:29.020]  And by the time this gets through to the courts and gets overturned, a lot of people will
[01:45:29.020 --> 01:45:33.020]  have lost their houses.
[01:45:33.020 --> 01:45:40.020]  If we can help people protect all their rights when it does get changed back, or even if
[01:45:40.020 --> 01:45:45.020]  they can get to 1900, we can make up for it by beating up Crapola out of these mortgage
[01:45:45.020 --> 01:45:46.020]  companies.
[01:45:46.020 --> 01:45:52.020]  And this is clearly an effort to protect these guys because they know this storm is coming
[01:45:52.020 --> 01:45:55.020]  at them.
[01:45:55.020 --> 01:46:00.020]  I think that a group should get together and see if they can put their brainstorm away to
[01:46:00.020 --> 01:46:03.020]  get this thing done as a group.
[01:46:03.020 --> 01:46:08.020]  Well, someone needs to challenge this through the court.
[01:46:08.020 --> 01:46:15.020]  Someone needs to go down and try to file, and when the filing fee for this is different
[01:46:15.020 --> 01:46:25.020]  than what it was, then you file suit against the court or the state for injunctive relief,
[01:46:25.020 --> 01:46:30.020]  claiming that this price increase is unconstitutional.
[01:46:30.020 --> 01:46:32.020]  That's the way you get it changed.
[01:46:32.020 --> 01:46:34.020]  Someone has to be injured by it first.
[01:46:34.020 --> 01:46:37.020]  So it has to be someone who's trying to file.
[01:46:37.020 --> 01:46:41.020]  They try to force to pay this.
[01:46:41.020 --> 01:46:45.020]  So someone's going to face the music and get tomatoes thrown at them.
[01:46:45.020 --> 01:46:46.020]  Forget about it.
[01:46:46.020 --> 01:46:48.020]  Yes.
[01:46:48.020 --> 01:46:51.020]  Kind of that way.
[01:46:51.020 --> 01:46:58.020]  But if you can get some people together to help, you know, with the cost of the litigation,
[01:46:58.020 --> 01:47:01.020]  everybody wins by it.
[01:47:01.020 --> 01:47:03.020]  Okay.
[01:47:03.020 --> 01:47:04.020]  Okay.
[01:47:04.020 --> 01:47:09.020]  Well, I guess you've got to put on a helmet and expect the worst because these people
[01:47:09.020 --> 01:47:14.020]  have a lot of money and have a lot of lawyers backing them up, and they can just, you know,
[01:47:14.020 --> 01:47:17.020]  you guys go there, you're in charge of this.
[01:47:17.020 --> 01:47:24.020]  And unless you have a strong backing or group of people that have, you know, decent pockets,
[01:47:24.020 --> 01:47:30.020]  you know, that are lined up financially, I mean, it's like you going against the,
[01:47:30.020 --> 01:47:32.020]  like me, me, me, going against the life.
[01:47:32.020 --> 01:47:34.020]  Well, I mean, check it out, though.
[01:47:34.020 --> 01:47:41.020]  Listen, one of the hosts on Agenda 21, Mike Callaway, he's in the middle of a foreclosure
[01:47:41.020 --> 01:47:49.020]  right now, and he's handling it pro se, and he turned around and he sued them, he sued
[01:47:49.020 --> 01:47:58.020]  the bank for fraud, and he's going up, Mike Callaway, against, pro se, against 43 attorneys
[01:47:58.020 --> 01:48:04.020]  for Chase Bank, 43 against Mike, and he's winning.
[01:48:04.020 --> 01:48:06.020]  He's just about got the case settled.
[01:48:06.020 --> 01:48:07.020]  Yes.
[01:48:07.020 --> 01:48:12.020]  And they're going to have to pay him before it's all done and said.
[01:48:12.020 --> 01:48:13.020]  Exactly.
[01:48:13.020 --> 01:48:20.020]  We really, we really can, that shows me it really, we really can do this.
[01:48:20.020 --> 01:48:22.020]  We don't need to be scared of these guys.
[01:48:22.020 --> 01:48:27.020]  They are committing fraud, and there are so many different ways that they are committing
[01:48:27.020 --> 01:48:28.020]  fraud.
[01:48:28.020 --> 01:48:31.020]  Okay, we talked about the fraud, the banking system.
[01:48:31.020 --> 01:48:35.020]  Sharla has ways that she can prove they've committed fraud.
[01:48:35.020 --> 01:48:38.020]  Steve Skidmore has all kinds of ways to prove that they commit fraud.
[01:48:38.020 --> 01:48:41.020]  There are hundreds, thousands of ways, different ways.
[01:48:41.020 --> 01:48:45.020]  Some are big, some are small, some are easy to understand, some are more difficult to
[01:48:45.020 --> 01:48:50.020]  understand, but there are so many ways that they are committing fraud, and it's the total
[01:48:50.020 --> 01:48:56.020]  smoke and mirrors, and they know how vulnerable they are because it's all about the show.
[01:48:56.020 --> 01:49:02.020]  It's all about fooling people, and so we really can, we really can do this.
[01:49:02.020 --> 01:49:03.020]  Okay?
[01:49:03.020 --> 01:49:05.020]  So.
[01:49:05.020 --> 01:49:07.020]  A lot of jurisdiction, I guess.
[01:49:07.020 --> 01:49:08.020]  Juristic sharing.
[01:49:08.020 --> 01:49:11.020]  All right, well listen, thank you, Al.
[01:49:11.020 --> 01:49:12.020]  Thank you very much.
[01:49:12.020 --> 01:49:13.020]  I appreciate your input.
[01:49:13.020 --> 01:49:14.020]  Okay, thank you.
[01:49:14.020 --> 01:49:16.020]  Okay, thank you.
[01:49:16.020 --> 01:49:18.020]  Okay, we have a couple more callers on the line.
[01:49:18.020 --> 01:49:19.020]  We still got about 10 minutes left.
[01:49:19.020 --> 01:49:25.020]  Randy, did you want to go over some material with Sharla first before the end of the show?
[01:49:25.020 --> 01:49:27.020]  Randy.
[01:49:27.020 --> 01:49:29.020]  No, we'll do this on the next one.
[01:49:29.020 --> 01:49:30.020]  Let's go ahead and take callers.
[01:49:30.020 --> 01:49:34.020]  Okay, yeah, maybe we can, yeah, we need to have you on again very soon.
[01:49:34.020 --> 01:49:38.020]  We could even continue it on Thursday if you guys want to.
[01:49:38.020 --> 01:49:39.020]  This is a great discussion.
[01:49:39.020 --> 01:49:41.020]  Let's go to Mark from Wisconsin.
[01:49:41.020 --> 01:49:43.020]  He's one of our affiliates.
[01:49:43.020 --> 01:49:44.020]  Mark, thanks for calling in.
[01:49:44.020 --> 01:49:46.020]  What's on your mind tonight?
[01:49:46.020 --> 01:49:47.020]  Hi, I just called in.
[01:49:47.020 --> 01:49:48.020]  I wanted to recommend a video.
[01:49:48.020 --> 01:49:50.020]  It's called The Money Masters.
[01:49:50.020 --> 01:49:53.020]  It's the most comprehensive video ever made on the Federal Reserve system.
[01:49:53.020 --> 01:49:54.020]  Excellent.
[01:49:54.020 --> 01:49:56.020]  And it's history.
[01:49:56.020 --> 01:49:59.020]  It's about three hours and 15 minutes.
[01:49:59.020 --> 01:50:04.020]  If you think you've got an understanding of the way the system works,
[01:50:04.020 --> 01:50:06.020]  really you've got to watch this movie.
[01:50:06.020 --> 01:50:10.020]  I mean, it's the best documentary in my mind that has ever been made
[01:50:10.020 --> 01:50:14.020]  because it shows their system of control.
[01:50:14.020 --> 01:50:18.020]  And their whole system depends on this fraud.
[01:50:18.020 --> 01:50:22.020]  This whole system depends on this fake money system.
[01:50:22.020 --> 01:50:24.020]  And it's three hours and 15 minutes.
[01:50:24.020 --> 01:50:26.020]  It talks about how they started it in Europe,
[01:50:26.020 --> 01:50:29.020]  how they started it with the guys who held gold,
[01:50:29.020 --> 01:50:31.020]  and they would issue certificates for the gold,
[01:50:31.020 --> 01:50:35.020]  and then they finally discovered that only 20% of the people would come in
[01:50:35.020 --> 01:50:37.020]  and actually ask for their gold.
[01:50:37.020 --> 01:50:41.020]  So they knew that they could issue a lot more certificates than they had gold,
[01:50:41.020 --> 01:50:45.020]  and that's how the Federal Reserve banking system actually started.
[01:50:45.020 --> 01:50:48.020]  But we really need to have Randy have a look at that video.
[01:50:48.020 --> 01:50:53.020]  Look, I am very familiar with that.
[01:50:53.020 --> 01:50:57.020]  I am very familiar with it.
[01:50:57.020 --> 01:51:03.020]  What I was trying to do was demonstrate how it's purported to be
[01:51:03.020 --> 01:51:06.020]  so it appears to make some sense
[01:51:06.020 --> 01:51:12.020]  and then from there show how it's been adulterated
[01:51:12.020 --> 01:51:17.020]  so that what the average guy on the street looks at and thinks he's seeing,
[01:51:17.020 --> 01:51:22.020]  I was trying to construct what is designed for him to think he's seeing.
[01:51:22.020 --> 01:51:25.020]  And everybody keeps telling me you're not really seeing what you think you're seeing.
[01:51:25.020 --> 01:51:28.020]  I know that.
[01:51:28.020 --> 01:51:34.020]  But I was trying to get to what they present for us to think that we're seeing
[01:51:34.020 --> 01:51:39.020]  so that we have a talisman, a place to work from.
[01:51:39.020 --> 01:51:45.020]  I think we were doing that pretty well, Randy.
[01:51:45.020 --> 01:51:46.020]  Okay.
[01:51:46.020 --> 01:51:48.020]  Yeah, and if you watch that video,
[01:51:48.020 --> 01:51:52.020]  you'll begin to realize there is a boom-bust cycle, but it's more like shearing
[01:51:52.020 --> 01:51:54.020]  and eating the sheep.
[01:51:54.020 --> 01:51:55.020]  I mean, it's all planned.
[01:51:55.020 --> 01:51:58.020]  They know when the system is going to come down next,
[01:51:58.020 --> 01:52:01.020]  and they're gearing up to maybe get us on the gold standard next.
[01:52:01.020 --> 01:52:03.020]  That's how they did it last time.
[01:52:03.020 --> 01:52:06.020]  I mean, they said, look, the system runs on faith alone,
[01:52:06.020 --> 01:52:10.020]  and so we need to get faith back in the currency, so we'll back it with gold.
[01:52:10.020 --> 01:52:11.020]  Everyone believes in gold.
[01:52:11.020 --> 01:52:16.020]  And then after a while, they just change it back into the fractional reserve system.
[01:52:16.020 --> 01:52:18.020]  I mean, it's a cycle.
[01:52:18.020 --> 01:52:20.020]  We go through it over and over and over again.
[01:52:20.020 --> 01:52:22.020]  And the money that they're capturing,
[01:52:22.020 --> 01:52:24.020]  they're using against the citizens of the world.
[01:52:24.020 --> 01:52:27.020]  I mean, Jacob Schiff out of New York financed the Bolshevik Revolution.
[01:52:27.020 --> 01:52:29.020]  Twenty million people dead.
[01:52:29.020 --> 01:52:33.020]  Max Warburg financed the Germans in World War II.
[01:52:33.020 --> 01:52:35.020]  Paul Warburg financed the Americans.
[01:52:35.020 --> 01:52:37.020]  They're brothers, for God's sakes.
[01:52:37.020 --> 01:52:46.020]  And Paul Warburg was one of the authors on the Federal Reserve Act, the Aldrich Bill.
[01:52:46.020 --> 01:52:49.020]  Amazing.
[01:52:49.020 --> 01:52:50.020]  It is amazing.
[01:52:50.020 --> 01:52:55.020]  And if we don't get on these guys, I mean, the whole system has got to be brought down.
[01:52:55.020 --> 01:53:00.020]  It's coming down anyway, but they're going to have a system ready for us to go into,
[01:53:00.020 --> 01:53:02.020]  and it will probably be the IMF.
[01:53:02.020 --> 01:53:05.020]  And you've seen what the IMF has done to small countries.
[01:53:05.020 --> 01:53:07.020]  They're going to do the same thing here.
[01:53:07.020 --> 01:53:10.020]  Every country they go into, they rape, rob and pillage
[01:53:10.020 --> 01:53:15.020]  and take all the resources that are necessary for people to live.
[01:53:15.020 --> 01:53:16.020]  They control the water.
[01:53:16.020 --> 01:53:18.020]  They control the food.
[01:53:18.020 --> 01:53:19.020]  They control the money.
[01:53:19.020 --> 01:53:21.020]  They control the politicians.
[01:53:21.020 --> 01:53:23.020]  Anyway, with that, I'd like to say good night.
[01:53:23.020 --> 01:53:25.020]  And the Money Masters, it's on Google.
[01:53:25.020 --> 01:53:26.020]  It's free.
[01:53:26.020 --> 01:53:27.020]  The Money Masters.
[01:53:27.020 --> 01:53:28.020]  Good night, all.
[01:53:28.020 --> 01:53:29.020]  All right.
[01:53:29.020 --> 01:53:30.020]  Thank you, Mark.
[01:53:30.020 --> 01:53:31.020]  That's Mark from Wisconsin.
[01:53:31.020 --> 01:53:35.020]  He's one of our affiliates, he broadcasts us on FM Station in Madison.
[01:53:35.020 --> 01:53:36.020]  We really appreciate that.
[01:53:36.020 --> 01:53:38.020]  Thank you so much.
[01:53:38.020 --> 01:53:41.020]  We really want to thank our affiliates here.
[01:53:41.020 --> 01:53:42.020]  Okay.
[01:53:42.020 --> 01:53:44.020]  We've got a few minutes left.
[01:53:44.020 --> 01:53:47.020]  We're going to try to blaze through the rest of your calls as quickly as possible.
[01:53:47.020 --> 01:53:49.020]  We've got Paul in Texas.
[01:53:49.020 --> 01:53:51.020]  Paul, thanks for calling in.
[01:53:51.020 --> 01:53:52.020]  What's on your mind tonight?
[01:53:52.020 --> 01:53:53.020]  Yeah, thank you.
[01:53:53.020 --> 01:53:57.020]  I don't know if there's enough time left for me to go into all this.
[01:53:57.020 --> 01:53:58.020]  There may not be.
[01:53:58.020 --> 01:53:59.020]  We've got three callers on the board.
[01:53:59.020 --> 01:54:03.020]  I'd like to take them all if we can because everyone's been holding for such a long time.
[01:54:03.020 --> 01:54:08.020]  So if you have a quick comment, I want to give everyone like one minute.
[01:54:08.020 --> 01:54:11.020]  Randy, you've invited me to be on your show several times,
[01:54:11.020 --> 01:54:14.020]  and the subject tonight is one I am very familiar with.
[01:54:14.020 --> 01:54:21.020]  And I can tell you why and how the brokerage community is in concert with the bankers
[01:54:21.020 --> 01:54:26.020]  and how the fiat currency and the fraction reserve banking are all tied to the
[01:54:26.020 --> 01:54:31.020]  Depository Trust Corporation, how the QCIP numbers are assigned,
[01:54:31.020 --> 01:54:35.020]  and why, and through the tranches that they create,
[01:54:35.020 --> 01:54:41.020]  why they're able to sell all this paper to not only domestic consumers
[01:54:41.020 --> 01:54:43.020]  but also international consumers.
[01:54:43.020 --> 01:54:48.020]  So if you want, Russell knows how to get ahold of me.
[01:54:48.020 --> 01:54:50.020]  You can get ahold of him.
[01:54:50.020 --> 01:54:53.020]  Yeah, I was going to send Russell down to grab you by the throat
[01:54:53.020 --> 01:54:55.020]  and drag you to the microphone.
[01:54:55.020 --> 01:54:57.020]  Paul, do you have a Web site?
[01:54:57.020 --> 01:55:02.020]  Well, I don't have a Web site that's involved with this.
[01:55:02.020 --> 01:55:07.020]  I have Web sites, but Randy, let's you and I visit.
[01:55:07.020 --> 01:55:10.020]  I know you're not local right at the moment,
[01:55:10.020 --> 01:55:13.020]  so the next time you're close by there's a couple of things we need to talk about.
[01:55:13.020 --> 01:55:19.020]  But I can give you a whole lot of why this system is going to collapse.
[01:55:19.020 --> 01:55:24.020]  There's not a fraction reserve system ever created that lasts more than 100 years.
[01:55:24.020 --> 01:55:27.020]  This one started in 1913.
[01:55:27.020 --> 01:55:30.020]  It was a direct result of the Panic of 1894.
[01:55:30.020 --> 01:55:35.020]  The brokerage community, there's not a mortgage in the nation
[01:55:35.020 --> 01:55:42.020]  that doesn't ultimately become part of HUD, Housing or Health and Human Services now.
[01:55:42.020 --> 01:55:45.020]  Well, Paul, maybe we can have you on as a guest later this week.
[01:55:45.020 --> 01:55:47.020]  Let's do that then.
[01:55:47.020 --> 01:55:48.020]  Okay.
[01:55:47.020 --> 01:55:48.020]  Wonderful.
[01:55:48.020 --> 01:55:49.020]  All right.
[01:55:49.020 --> 01:55:53.020]  I've got your number from the caller board, so let us contact you.
[01:55:53.020 --> 01:55:54.020]  Okay.
[01:55:53.020 --> 01:55:54.020]  All right, thank you.
[01:55:54.020 --> 01:55:55.020]  Good evening.
[01:55:55.020 --> 01:55:56.020]  Okay.
[01:55:56.020 --> 01:56:00.020]  All right, we are going to go now to Charles from California.
[01:56:00.020 --> 01:56:02.020]  He's been holding very long time.
[01:56:02.020 --> 01:56:05.020]  Charles, what's on your mind tonight?
[01:56:05.020 --> 01:56:06.020]  Hi there.
[01:56:06.020 --> 01:56:10.020]  I've got a couple of traffic problems that I've got to get resolved.
[01:56:10.020 --> 01:56:15.020]  One of them is resulting in a hold on my license renewal.
[01:56:15.020 --> 01:56:18.020]  We are not going to have time for this.
[01:56:18.020 --> 01:56:20.020]  I'm so sorry.
[01:56:20.020 --> 01:56:22.020]  Call in Friday on that.
[01:56:22.020 --> 01:56:25.020]  Yeah, yeah, call in Friday so we can – I know you've been holding forever,
[01:56:25.020 --> 01:56:30.020]  but we don't – we've only got two minutes left in the program.
[01:56:30.020 --> 01:56:31.020]  Okay.
[01:56:31.020 --> 01:56:32.020]  Yeah, call in Friday.
[01:56:32.020 --> 01:56:34.020]  Charles, I've got your number.
[01:56:34.020 --> 01:56:36.020]  I'm going to bookmark it.
[01:56:36.020 --> 01:56:38.020]  When you call in, we'll give you first priority on Friday.
[01:56:38.020 --> 01:56:40.020]  I'll bump you to the head of the list, okay?
[01:56:40.020 --> 01:56:41.020]  Okay, thank you.
[01:56:41.020 --> 01:56:42.020]  All right, thank you.
[01:56:42.020 --> 01:56:44.020]  Thank you.
[01:56:44.020 --> 01:56:49.020]  Okay, we are going now to Mike in Texas, our last caller.
[01:56:49.020 --> 01:56:50.020]  Mike, thanks for calling in.
[01:56:50.020 --> 01:56:52.020]  Any last comments?
[01:56:52.020 --> 01:56:53.020]  You have about a minute.
[01:56:53.020 --> 01:56:56.020]  Yeah, I need help with my mortgage fraud.
[01:56:56.020 --> 01:57:02.020]  I got into this in 2001, and I think I called Randy last week.
[01:57:02.020 --> 01:57:05.020]  He was going to get me in touch with – I guess it was Charlotte.
[01:57:05.020 --> 01:57:07.020]  I don't know, to the forensic –
[01:57:07.020 --> 01:57:09.020]  Yes, send me an email.
[01:57:09.020 --> 01:57:11.020]  I'm the one with no computer.
[01:57:11.020 --> 01:57:12.020]  I'm just a painter.
[01:57:12.020 --> 01:57:14.020]  Oh, oh, it's a painter.
[01:57:14.020 --> 01:57:15.020]  Okay.
[01:57:15.020 --> 01:57:16.020]  Yeah.
[01:57:16.020 --> 01:57:18.020]  Charlotte's here.
[01:57:18.020 --> 01:57:23.020]  I mean, every time I look at my escrow statement in February or so,
[01:57:23.020 --> 01:57:26.020]  I see these big blacked out boxes.
[01:57:26.020 --> 01:57:29.020]  Do you have my phone number?
[01:57:29.020 --> 01:57:31.020]  Yeah, I still got it.
[01:57:31.020 --> 01:57:33.020]  Okay, call me tomorrow.
[01:57:33.020 --> 01:57:35.020]  Are you in Austin, Mike?
[01:57:35.020 --> 01:57:36.020]  Yes, ma'am.
[01:57:36.020 --> 01:57:39.020]  I would recommend that you go down to Goodwill Computers.
[01:57:39.020 --> 01:57:42.020]  Computer Works is also called up on research,
[01:57:42.020 --> 01:57:47.020]  because you can get a really decent system there,
[01:57:47.020 --> 01:57:50.020]  really for like about $100, $150,
[01:57:50.020 --> 01:57:53.020]  and really everybody needs to have a computer this day and age to be able to do –
[01:57:53.020 --> 01:57:54.020]  I don't even know how to use them.
[01:57:54.020 --> 01:57:57.020]  I mean, you know, I just need to figure this.
[01:57:57.020 --> 01:58:00.020]  Every time I look at that escrow statement and the numbers,
[01:58:00.020 --> 01:58:04.020]  I'm thinking, you know, I'm getting royally bent here.
[01:58:04.020 --> 01:58:05.020]  Yes, you are.
[01:58:05.020 --> 01:58:07.020]  We can help you with that.
[01:58:07.020 --> 01:58:08.020]  Call me tomorrow.
[01:58:08.020 --> 01:58:10.020]  I'll get you together with Charlotte.
[01:58:10.020 --> 01:58:11.020]  All right.
[01:58:11.020 --> 01:58:15.020]  Okay, we'll – there's some information we'll need.
[01:58:15.020 --> 01:58:17.020]  What time should I call you?
[01:58:17.020 --> 01:58:20.020]  Am I on noon or what?
[01:58:20.020 --> 01:58:21.020]  Yeah, any time.
[01:58:21.020 --> 01:58:25.020]  I wake up early in the morning, so I'll be up all day.
[01:58:25.020 --> 01:58:27.020]  Okay, thank you.
[01:58:27.020 --> 01:58:28.020]  Okay.
[01:58:28.020 --> 01:58:29.020]  All right.
[01:58:29.020 --> 01:58:34.020]  Okay, well, listen, we are about to go off the air here,
[01:58:34.020 --> 01:58:38.020]  so we really appreciate all you listeners listening in,
[01:58:38.020 --> 01:58:41.020]  and Charlotte, thanks for joining us.
[01:58:41.020 --> 01:58:43.020]  We need to have you back again maybe on Thursday if you can,
[01:58:43.020 --> 01:58:47.020]  so we can continue the conversation if we didn't go over all your material.
[01:58:47.020 --> 01:58:48.020]  All right.
[01:58:48.020 --> 01:58:50.020]  And Charles, again, I know you've been holding forever.
[01:58:50.020 --> 01:58:54.020]  Thank you so much for holding, and we will take a call right away on Friday.
[01:58:54.020 --> 01:59:14.020]  This has been the rule of law on the rule of law radio network.
[01:59:24.020 --> 01:59:51.020]  Thank you so much.
[01:59:51.020 --> 01:59:55.020]  Thank you.