ROL_2012-08-10_16k_Hr1-2.timecode

[00:00.000 --> 00:06.720]  Get those greasy burgers and gooey donuts, not only will they make you fat, they'll increase
[00:06.720 --> 00:07.720]  your risk of depression.
[00:07.720 --> 00:12.360]  I'm Dr. Catherine Albright and I'll tell you about a new study on the link between fast
[00:12.360 --> 00:15.800]  food and poor mental health next.
[00:15.800 --> 00:17.520]  Privacy is under attack.
[00:17.520 --> 00:21.120]  When you give up data about yourself, you'll never get it back again.
[00:21.120 --> 00:26.120]  And once your privacy is gone, you'll find your freedoms will start to vanish too.
[00:26.120 --> 00:31.200]  So protect your rights, say no to surveillance and keep your information to yourself.
[00:31.200 --> 00:33.920]  Privacy, it's worth hanging on to.
[00:33.920 --> 00:39.440]  This message is brought to you by StartPage.com, the private search engine alternative to Google,
[00:39.440 --> 00:41.240]  Yahoo and Bing.
[00:41.240 --> 00:43.240]  Start over with StartPage.
[00:43.240 --> 00:48.000]  As if you needed another reason to eat healthy, here's one more.
[00:48.000 --> 00:52.920]  A new study shows the more fast food you eat, the more likely you are to become clinically
[00:52.920 --> 00:53.920]  depressed.
[00:53.920 --> 00:59.000]  Spanish researchers monitored 9,000 people who had never been diagnosed with depression.
[00:59.000 --> 01:03.280]  After just six months, they found that those who ate fast food were 50% more likely to
[01:03.280 --> 01:05.760]  develop depression than those who didn't.
[01:05.760 --> 01:10.040]  Even participants who ate just small amounts of fast food or commercially baked goods like
[01:10.040 --> 01:14.080]  donuts or croissants were more susceptible to mental illness.
[01:14.080 --> 01:17.880]  So swap those hot dogs and fries for veggies, fish and fruit.
[01:17.880 --> 01:20.160]  Your mind and your middle will love you for it.
[01:20.160 --> 01:31.520]  I'm Dr. Catherine Albrecht for StartPage.com, the world's most private search engine.
[01:31.520 --> 01:34.480]  Japan is number one in life expectancy, right?
[01:34.480 --> 01:35.480]  Well maybe not.
[01:35.480 --> 01:40.080]  Recent discoveries have people wondering if those famous 100-year-old Japanese aren't
[01:40.080 --> 01:41.080]  just a scam.
[01:41.080 --> 01:45.880]  I'm Dr. Catherine Albrecht, back with the bizarre details next.
[01:45.880 --> 01:47.600]  Privacy is under attack.
[01:47.600 --> 01:51.200]  When you give up data about yourself, you'll never get it back again.
[01:51.200 --> 01:56.200]  And once your privacy is gone, you'll find your freedoms will start to vanish too.
[01:56.200 --> 01:57.720]  So protect your rights.
[01:57.720 --> 02:01.320]  Say no to surveillance and keep your information to yourself.
[02:01.320 --> 02:03.960]  Privacy, it's worth hanging on to.
[02:03.960 --> 02:09.560]  This message is brought to you by StartPage.com, the private search engine alternative to Google,
[02:09.560 --> 02:11.280]  Yahoo and Bing.
[02:11.280 --> 02:14.760]  Start over with StartPage.
[02:14.760 --> 02:18.320]  For Japanese investigators, it was a gruesome discovery.
[02:18.320 --> 02:23.040]  The bones of an elderly woman thought to be alive were found in a backpack belonging to
[02:23.040 --> 02:24.040]  her son.
[02:24.040 --> 02:28.120]  Why did he stash his mother's remains instead of giving her a decent burial?
[02:28.120 --> 02:31.680]  Well, the sordid truth was more about money than gruesomeness.
[02:31.680 --> 02:36.560]  As it happens, he never reported his mother's death back in 2001 and had been collecting
[02:36.560 --> 02:38.800]  her benefits ever since.
[02:38.800 --> 02:44.200]  The discovery is just one of many suggesting the Japanese may not live as long as we thought.
[02:44.200 --> 02:50.160]  In a nationwide search, more than 200,000 so-called centenarians or 100-year-olds have turned
[02:50.160 --> 02:52.040]  up to be dead or missing.
[02:52.040 --> 03:20.040]  I'm Dr. Catherine Albrecht for StartPage.com, the world's most private search engine.
[03:20.040 --> 03:30.040]  This message is brought to you by StartPage.com, the private search engine alternative to
[03:30.040 --> 03:31.040]  Google.com.
[03:31.040 --> 04:00.040]  This message is brought to you by StartPage.com, the private search engine alternative to
[04:00.040 --> 04:29.040]  Google.com.
[04:31.040 --> 04:56.040]  That's all right.
[04:56.040 --> 05:25.560]  We've finally got re-control of the connection to the system here.
[05:25.560 --> 05:28.560]  I can get us down and we can actually start talking.
[05:28.560 --> 05:31.560]  Okay, as I said, it is August 10th, 2012.
[05:31.560 --> 05:35.560]  Randy, you have a guest for us tonight.
[05:35.560 --> 05:36.560]  Randy?
[05:36.560 --> 05:45.560]  All right, Randy was connected to us here.
[05:45.560 --> 05:47.560]  Let me see if I can figure out what's going on with that.
[05:47.560 --> 05:51.560]  We are having all kinds of fun all of a sudden.
[05:51.560 --> 05:59.560]  Okay, I still show that Randy is connected, but he is not listening or hearing what we've
[05:59.560 --> 06:01.560]  got going on here.
[06:01.560 --> 06:02.560]  Randy?
[06:02.560 --> 06:03.560]  There you go.
[06:03.560 --> 06:04.560]  All right.
[06:04.560 --> 06:05.560]  Now we're good.
[06:05.560 --> 06:10.560]  This thing shifted off my studio, Mike.
[06:10.560 --> 06:11.560]  That was annoying.
[06:11.560 --> 06:16.560]  Okay, Debra's going to skid us both alive for that.
[06:16.560 --> 06:20.560]  We are professionals and we do not have these problems on the air.
[06:20.560 --> 06:25.560]  Well, so much you can do with lousy internet connections, but anyway.
[06:25.560 --> 06:34.560]  Okay, I was saying that I have been doing this research on the foreclosure issue and
[06:34.560 --> 06:42.560]  setting up remedy for people and in the process, it's been an evolution.
[06:42.560 --> 06:51.560]  We started out primarily to buy people time to get the bit of foreclosure stopped so that
[06:51.560 --> 06:54.560]  we could keep people in the properties.
[06:54.560 --> 07:03.560]  And that has over time evolved into some somewhat more sophisticated approaches.
[07:03.560 --> 07:09.560]  And now we're moving toward a more serious remedy.
[07:09.560 --> 07:13.560]  The politics over time has changed.
[07:13.560 --> 07:19.560]  When we first started, we talked about how we expected the political situation to change
[07:19.560 --> 07:22.560]  and that's done exactly what we thought.
[07:22.560 --> 07:28.560]  The foreclosure problem has deteriorated exactly like we expected.
[07:28.560 --> 07:36.560]  But now is the time we need to come in with more sophisticated arguments and we're in
[07:36.560 --> 07:40.560]  a good position to actually start getting good rulings.
[07:40.560 --> 07:45.560]  I tell everybody that the courts are absolutely corrupt.
[07:45.560 --> 07:51.560]  They're going to rule against you out of hand at every turn and we have to expect that design for it.
[07:51.560 --> 07:58.560]  Well, we're reaching a point where even though the courts may be absolutely corrupt,
[07:58.560 --> 08:07.560]  the politics is changing and in order to prepare a more sophisticated and more complete remedy,
[08:07.560 --> 08:13.560]  I've been looking at securities analysis and how we can apply that to what we're doing.
[08:13.560 --> 08:20.560]  And in my research in the area, I've talked to a lot of people who do this.
[08:20.560 --> 08:27.560]  I've settled down to two and primarily so far this is absolutely my front runner.
[08:27.560 --> 08:31.560]  I'd like to introduce you to Fadi Arne.
[08:31.560 --> 08:38.560]  That's F-A-D-I-E of Arne.
[08:38.560 --> 08:41.560]  We're going to avoid the name jokes.
[08:41.560 --> 08:43.560]  That's all right.
[08:43.560 --> 08:46.560]  With that name, I suppose you've heard them all.
[08:46.560 --> 08:49.560]  Oh, I've heard every single one of them.
[08:49.560 --> 09:02.560]  Okay, and Fadi has National Mortgage Investigation and came across Fadi through one of these.
[09:02.560 --> 09:04.560]  What was the lawsuit?
[09:04.560 --> 09:06.560]  It was a mass joint.
[09:06.560 --> 09:12.560]  It was a BLB Bank of America lawsuit, which is a lawsuit that we helped in the drafting.
[09:12.560 --> 09:16.560]  We helped in finding all the subsidiaries and all the defendants.
[09:16.560 --> 09:25.560]  Currently, more than 1,800 defendants on that lawsuit and more than, I believe, now they're up about 2020.
[09:25.560 --> 09:30.560]  That was the lawsuit that we had met you on.
[09:30.560 --> 09:35.560]  Yes, and they were doing research for this lawsuit.
[09:35.560 --> 09:48.560]  We've been discussing getting audits tatered to the approach that we're using, tatered to the statement of facts and
[09:48.560 --> 09:58.560]  statement of factual accusation, where I can bring in what he's developing and use it to develop causes of action there.
[09:58.560 --> 10:11.560]  Most of the analyses that I've seen were essentially worthless because they gave you all of these things that the lender did wrong.
[10:11.560 --> 10:15.560]  I'm looking at those and saying, so?
[10:15.560 --> 10:16.560]  Yeah, he did this wrong.
[10:16.560 --> 10:17.560]  He did that wrong.
[10:17.560 --> 10:19.560]  But how does that harm me?
[10:19.560 --> 10:22.560]  How can I use that as a cause of action?
[10:22.560 --> 10:29.560]  And Faddy's gave me some real good information and really well structured analysis.
[10:29.560 --> 10:32.560]  But that's not what we're here to talk about tonight.
[10:32.560 --> 10:33.560]  No, sir.
[10:33.560 --> 10:43.560]  He's been doing a lot of research on what the banks are doing with the money they're stealing from us.
[10:43.560 --> 10:46.560]  Will you pick it up, Faddy?
[10:46.560 --> 10:47.560]  Yeah, sir.
[10:47.560 --> 10:48.560]  Yes, sir.
[10:48.560 --> 10:49.560]  Tell us what's going on.
[10:49.560 --> 10:54.560]  I want to obviously thank you guys again for having us on your show.
[10:54.560 --> 11:07.560]  We have been the lead investigators in the industry in regards to all the securitization fraud, the banking fraud, and the financial frauds of the last decade.
[11:07.560 --> 11:27.560]  And in the process, we have uncovered an international money laundering Ponzi scheme involving more than 20,000 international entities in various countries such as the Cayman Islands, the Isle of Man, Luxembourg,
[11:27.560 --> 11:30.560]  you've got the United Kingdom, China, India.
[11:30.560 --> 11:37.560]  There are more than 80 countries that are involved in this entire Ponzi scheme.
[11:37.560 --> 11:46.560]  And what we've even been able to find is also these entities have been involved in terrorist financing.
[11:46.560 --> 11:51.560]  They have been used for tax evasion of trillions of dollars.
[11:51.560 --> 11:59.560]  So we're talking about over $23 trillion of a Ponzi scheme, and that's $23 trillion that we could find.
[11:59.560 --> 12:02.560]  God knows how much more there is out there.
[12:02.560 --> 12:10.560]  So in the process, these international entities are now currently owned by the banks.
[12:10.560 --> 12:16.560]  So let me give you an idea to how many entities we're talking about here.
[12:16.560 --> 12:18.560]  JPMorgan Chase is leading the way.
[12:18.560 --> 12:23.560]  They've got more than 3,000 international entities under their umbrella.
[12:23.560 --> 12:29.560]  Now, those are actually 3,000 disclosed entities.
[12:29.560 --> 12:35.560]  What defines a disclosed entity is more than 70% ownership.
[12:35.560 --> 12:45.560]  So if they have less than 70% ownership, they actually don't have to disclose it according to the Starbanks-Oxley Act under their accounting records and under their annual reports.
[12:45.560 --> 12:52.560]  So realistically, we really don't know how many entities they have, but disclosed entities, they have more than 3,000.
[12:52.560 --> 12:58.560]  The top five bank holding companies, which would be – let me get them up for you.
[12:58.560 --> 13:00.560]  I know JPMorgan Chase would be number one.
[13:00.560 --> 13:03.560]  Number two is Bank of America Corporation.
[13:03.560 --> 13:05.560]  Three is Citigroup Inc.
[13:05.560 --> 13:07.560]  Four is Wells Fargo Inc.
[13:07.560 --> 13:20.560]  And number five is Goldman Sachs Group, which by the way, after the financial crisis, Goldman Sachs transitioned from a financial holding company to an actual banking holding company
[13:20.560 --> 13:29.560]  for various reasons of taking the deregulation of the banking industry and using it to their favor.
[13:29.560 --> 13:38.560]  But in these five entities alone, each one of them, except JPMorgan Chase, has more than 2,000 entities around the world.
[13:38.560 --> 13:46.560]  Like I said, they're in countries that are known international money laundering harbors like the Cayman Islands.
[13:46.560 --> 14:00.560]  So throughout our research, Randy, we first found these entities and then began to question ourselves, well, is it illegal to really have more than 100 or more than 1,000 entities?
[14:00.560 --> 14:02.560]  Realistically, no, it's not.
[14:02.560 --> 14:11.560]  But then we began to dig a little bit deeper and we began to find that these entities are entities that – let me give you an example.
[14:11.560 --> 14:24.560]  Countrywide has a specific company and this particular company – Countrywide hired it as a management and accounting firm for Countrywide's promissory notes.
[14:24.560 --> 14:31.560]  And at one point in time, they had more than $200 billion of notes on their accounting record.
[14:31.560 --> 14:44.560]  The last known filing of this particular company is the fact that in the Cayman Islands, there was a flood so large that all 200 billion assets are no longer able to be received or retrait.
[14:44.560 --> 14:50.560]  So these entities, we began finding very, very shady activities with these entities.
[14:50.560 --> 15:02.560]  And in some cases, we even found these entities are attached to addresses that are an actual piece of dirt, a piece of land in one of these countries.
[15:02.560 --> 15:10.560]  So these are just shell entities that are created for the sole purpose of transferring money and hiding the money that is stolen from homeowners.
[15:10.560 --> 15:23.560]  And then again, that's how we got on with the BLV Bank of America lawsuit, which is the first lawsuit in American history to unravel the DNA of the International Money Laundering and Ponzi Scheme.
[15:23.560 --> 15:30.560]  And we were directly connected with that suit from start to the continued drafting of it.
[15:30.560 --> 15:36.560]  And also, we did quite a bit of macro-investigating on that as well.
[15:36.560 --> 15:41.560]  So it's been very, very interesting, the information that we have found.
[15:41.560 --> 15:48.560]  And interestingly enough, Randy, the Federal Reserve put out a report.
[15:48.560 --> 15:52.560]  Let me give you the actual day that they put out the report.
[15:52.560 --> 15:58.560]  The report is just recent.
[15:58.560 --> 16:08.560]  And again, Randy, this report will be available to you and to your listeners, and they can find it. It is a public report, but we will give it to them all in one place.
[16:08.560 --> 16:13.560]  The report is titled, A Structural View of U.S. Bankholding Companies.
[16:13.560 --> 16:20.560]  Let me just give you an idea of the growth of the banking industry in the last decade.
[16:20.560 --> 16:28.560]  In 1991, there was only one company that held more than 500 subsidiaries.
[16:28.560 --> 16:39.560]  Between 1999, after the passing of the Graham-Leach-Bliley Act, which would be the same act that deregulated the entire industry,
[16:39.560 --> 16:47.560]  the amount of entities now that are held by each party are well over 2,000.
[16:47.560 --> 16:51.560]  Okay, Fatty, hang on just a second. Fatty, we're about to take a break.
[16:51.560 --> 17:00.560]  All right, folks, this is the rule of law radio. We'll be right back on the other side of this break.
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[18:00.560 --> 18:05.560]  Are you being harassed by debt collectors with phone calls, letters, or even losses?
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[18:38.560 --> 18:40.560]  Personal consultation is available as well.
[18:40.560 --> 18:46.560]  For more information, please visit ruleoflawradio.com and click on the blue Michael Mirris banner,
[18:46.560 --> 18:49.560]  or email Michaelmirris at yahoo.com.
[18:49.560 --> 18:57.560]  That's ruleoflawradio.com, or email m-i-c-h-a-e-l-m-i-r-r-a-s at yahoo.com.
[18:57.560 --> 19:04.560]  To learn how to stop debt collectors next.
[19:27.560 --> 19:38.560]  We don't have the call boards up yet.
[19:38.560 --> 19:44.560]  We will probably turn them on at the end of the second hour at the beginning of the third.
[19:44.560 --> 19:50.560]  We have Fatty Arnie, and he's going to give us a tremendous amount of information
[19:50.560 --> 19:56.560]  about what the banks are doing with the money they're stealing from each and all of us.
[19:56.560 --> 19:58.560]  Okay, go ahead, Fatty.
[19:58.560 --> 20:00.560]  All right.
[20:00.560 --> 20:06.560]  Well, as we were talking about before the break, we were focusing on the New York Federal Reserve report,
[20:06.560 --> 20:12.560]  which is titled A Structural View of U.S. Bankholding Companies.
[20:12.560 --> 20:19.560]  Now, the significance of this report, it doesn't conclude that these entities are used for tax evasion,
[20:19.560 --> 20:25.560]  because obviously the Federal Reserve is not going to hurt the banking industry in any way.
[20:25.560 --> 20:31.560]  However, it does elude to the fact that the large wave of growth,
[20:31.560 --> 20:42.560]  especially being that the majority of the companies and the entities are between 40 to 80 countries,
[20:42.560 --> 20:48.560]  meaning that each bank has entities in anywhere from 40 to 80 countries.
[20:48.560 --> 20:55.560]  They eluded to the fact that there are many reasons for this, and they have done it because of the de-regulation, again,
[20:55.560 --> 20:57.560]  with the Grand Leagues Bliley Act.
[20:57.560 --> 21:02.560]  I'm just going to give you guys some statistics straight from the Federal Reserve report,
[21:02.560 --> 21:06.560]  just because of the actual interesting nature of these statistics.
[21:06.560 --> 21:13.560]  So, JPMorgan Chasing Company is ranked number one in the U.S. as a bankholding company.
[21:13.560 --> 21:19.560]  In total, they have 3,391 entities.
[21:19.560 --> 21:28.560]  Now, the total of these entities in total is more than $2.2 trillion of actual assets.
[21:28.560 --> 21:38.560]  Bank of America follows it in second with 2,019 entities with $2.13 trillion.
[21:38.560 --> 21:42.560]  Citigroup follows Wells Fargo and Goldman Sachs.
[21:42.560 --> 21:48.560]  Now, the study is on the top 50 bankholding companies.
[21:48.560 --> 21:57.560]  In the top 50 bankholding companies, there is exactly 19,603 disclosed entities.
[21:57.560 --> 22:06.560]  Now, the reason why I'm bringing this up is because last month in July, ladies and gentlemen,
[22:06.560 --> 22:13.560]  there was a Homeland Security report. It's an official permanent subcommittee on investigations report.
[22:13.560 --> 22:22.560]  It is titled U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing,
[22:22.560 --> 22:25.560]  HSBC Case History.
[22:25.560 --> 22:35.560]  So, it's a 340-page report, and the report discusses everything that we
[22:35.560 --> 22:40.560]  at National Mortgage Investigation have uncovered and unearthed over the last year
[22:40.560 --> 22:45.560]  and has actually verified it for us.
[22:45.560 --> 22:50.560]  It actually talks about something that we didn't even look into, which is terrorist financing.
[22:50.560 --> 22:54.560]  We only looked into the actual laundering of money.
[22:54.560 --> 22:57.560]  We didn't yet get into the purposes of the laundering of the money.
[22:57.560 --> 23:03.560]  This report discusses actual financing of terrorist organizations.
[23:03.560 --> 23:09.560]  We're talking about bankholding companies, companies that have grown around us,
[23:09.560 --> 23:15.560]  that are financing these same terrorist organizations that were behind the 9-11 attack
[23:15.560 --> 23:18.560]  and behind all other terrorist activities.
[23:18.560 --> 23:24.560]  If that doesn't get you mad enough as a U.S. citizen, as a patriot, I don't know what will.
[23:24.560 --> 23:28.560]  Okay, so you're saying they're actually campaign contributors then?
[23:28.560 --> 23:34.560]  Well, those are the terrorists responsible for 9-11, so, you know, just figured I'd check that out.
[23:34.560 --> 23:36.560]  Oh, yes.
[23:36.560 --> 23:44.560]  And again, the report is straight from Homeland Security, which is interesting because,
[23:44.560 --> 23:51.560]  and it is dated July 17, 2012, so it just came out less than a month ago.
[23:51.560 --> 23:57.560]  Now, what's interesting is in 2011, Homeland Security also put out another report titled
[23:57.560 --> 24:03.560]  Wall Street and the Financial Crisis, the Anatomy of a Financial Collapse.
[24:03.560 --> 24:08.560]  The interesting thing about this report is it also eluded, it did not conclude,
[24:08.560 --> 24:13.560]  but it eluded to the fact that the financial collapse and the financial crisis
[24:13.560 --> 24:19.560]  and foreclosures in general were a major threat to our homeland.
[24:19.560 --> 24:25.560]  Now, I don't know about you, Randy, but if you were a threat to homeland,
[24:25.560 --> 24:28.560]  you'd be pretty much shipped over to Al Qaeda.
[24:28.560 --> 24:35.560]  Why are these banks, who we have through various studies and reports and investigations,
[24:35.560 --> 24:39.560]  are being labeled as threats to our homeland?
[24:39.560 --> 24:41.560]  Why are these banks still operational?
[24:41.560 --> 24:46.560]  Why has the federal government not put out any federal indictment?
[24:46.560 --> 24:49.560]  Why has nothing been done for the American people?
[24:49.560 --> 24:52.560]  That is a question that we have to ask ourselves,
[24:52.560 --> 24:56.560]  and all the listeners listening on this call have to ask themselves as well.
[24:56.560 --> 25:00.560]  I mean, these reports are public records, ladies and gentlemen.
[25:00.560 --> 25:03.560]  This is not being pulled out of a secretive database.
[25:03.560 --> 25:08.560]  This is available to you, each and every single one of you.
[25:08.560 --> 25:13.560]  Let me give you a little taste of the actual report itself.
[25:13.560 --> 25:17.560]  Let me pull it up, the U.S. Vulnerability for Money Laundering Report.
[25:17.560 --> 25:24.560]  I'm going to read to you guys a little bit of it, just some various things that we've highlighted
[25:24.560 --> 25:26.560]  and that we've pulled out of the actual report.
[25:26.560 --> 25:35.560]  Again, it's a 340-page report, but this report examines the anti-money laundering
[25:35.560 --> 25:41.560]  and terrorist financing vulnerabilities created when a global bank uses its U.S. affiliates
[25:41.560 --> 25:47.560]  to provide U.S. dollars, U.S. dollar services, and access to the U.S. financial system
[25:47.560 --> 25:54.560]  to high-risk affiliates, high-risk correspondent banks, and high-risk clients.
[25:54.560 --> 26:00.560]  Now, that is on page 6. That is the first part of the report.
[26:00.560 --> 26:08.560]  It's already outlined in the first page that these global banks are the same banks
[26:08.560 --> 26:12.560]  that are destroying our country.
[26:12.560 --> 26:19.560]  I have a question that said high-risk clients.
[26:19.560 --> 26:29.560]  Do you know what they were referring to when they were referring to banks making high-risk loans?
[26:29.560 --> 26:36.560]  Is this report specifically toward terrorism and their high-risk clients,
[26:36.560 --> 26:40.560]  the high-risk of terrorism connections?
[26:40.560 --> 26:43.560]  It would be terrorism connections.
[26:43.560 --> 26:47.560]  This report does not really focus on the high-risk lending.
[26:47.560 --> 26:53.560]  It simply just focuses on the fact that these global banks, as they call it,
[26:53.560 --> 26:58.560]  provide U.S. dollars and provide access to the entire U.S. financial system
[26:58.560 --> 27:03.560]  to finance terrorist activities, and that's what they're talking about
[27:03.560 --> 27:07.560]  with, say, high-risk affiliates and high-risk clients.
[27:07.560 --> 27:14.560]  It's not subprime borrowers or anything. It's not talking about any of that.
[27:14.560 --> 27:17.560]  I didn't think so. I wanted to be sure.
[27:17.560 --> 27:23.560]  It is the concern of Homeland Security that these large banks,
[27:23.560 --> 27:29.560]  being multinational, are not as concerned with our security
[27:29.560 --> 27:33.560]  as they are their financial bottom line.
[27:33.560 --> 27:43.560]  Yes. They have been using this money to basically finance both sides of the war, if you will.
[27:43.560 --> 27:47.560]  They pay the United States government politicians.
[27:47.560 --> 27:52.560]  They are the biggest lobbyists. They are the biggest campaign contributors to our own government,
[27:52.560 --> 27:57.560]  but then, at the same time, they are the biggest contributors to the threats of our homeland,
[27:57.560 --> 28:03.560]  terrorism activities, and groups such as Al Qaeda and the likes.
[28:03.560 --> 28:08.560]  This actual report, though, focuses primarily on HSBC,
[28:08.560 --> 28:16.560]  and I think they did that because it is an international bank in the U.K. that has the U.S. affiliates.
[28:16.560 --> 28:19.560]  I don't know why they didn't focus on J.P. Morgan or Bank of America,
[28:19.560 --> 28:26.560]  but it goes extremely in-depth, and it sources everything, which is phenomenal.
[28:26.560 --> 28:31.560]  So you can actually go and look up all this information if you are really like me,
[28:31.560 --> 28:34.560]  and you want to find it out.
[28:34.560 --> 28:41.560]  Here is an example. Over the past 10 years, HSBC has also acquired affiliates throughout Latin America, Asia,
[28:41.560 --> 28:47.560]  Middle East, and Africa that provide that through high-risk financial activity,
[28:47.560 --> 28:50.560]  four high-risk financial activities.
[28:50.560 --> 28:56.560]  In many of these countries, a HSBC affiliate provides correspondence accounts to foreign financial institutions
[28:56.560 --> 29:01.560]  that, among other services, are interested in acquiring access to U.S. dollar wire transfers,
[29:01.560 --> 29:03.560]  foreign exchange, and other services.
[29:03.560 --> 29:11.560]  As a consequence, HSBC's U.S. affiliate, HBUS, is required to interact with other HSBC affiliates
[29:11.560 --> 29:16.560]  and foreign financial institutions that face substantial AML challenges,
[29:16.560 --> 29:20.560]  and they often operate under weaker AML requirements.
[29:20.560 --> 29:26.560]  Now, let me give you guys a synopsis and a background on what AML stands for here.
[29:26.560 --> 29:32.560]  It was a little bit up higher, so that way our listeners know exactly when I use the AML abbreviation,
[29:32.560 --> 29:34.560]  exactly what that is.
[29:37.560 --> 29:39.560]  We'll get back after the break.
[29:39.560 --> 29:41.560]  Yeah, we'll be right back.
[29:41.560 --> 29:43.560]  Okay, folks, this is Rule of Law Radio.
[29:43.560 --> 29:48.560]  We don't have the call-a-board open yet, but we will have to get through this presentation of Randy's guest,
[29:48.560 --> 29:51.560]  so people just hang in there, don't go away and stop listening.
[29:51.560 --> 29:54.560]  We will open the call-a-board up here in a little while.
[29:54.560 --> 29:57.560]  Till then, we'll be right back after the break.
[29:59.560 --> 30:05.560]  This is Building 7, a 47-story skyscraper that fell on the afternoon of September 11th.
[30:05.560 --> 30:07.560]  The government says that fire brought it down.
[30:07.560 --> 30:12.560]  However, 1,500 architects and engineers have concluded it was a controlled demolition.
[30:12.560 --> 30:15.560]  Over 6,000 of my fellow service members have given their lives.
[30:15.560 --> 30:18.560]  Thousands of my fellow force respond physically.
[30:18.560 --> 30:19.560]  I'm not a conspiracy theorist.
[30:19.560 --> 30:20.560]  I'm a structural engineer.
[30:20.560 --> 30:21.560]  I'm a New York City correction officer.
[30:21.560 --> 30:22.560]  I'm an Air Force pilot.
[30:22.560 --> 30:24.560]  I'm a father who lost his son.
[30:24.560 --> 30:27.560]  We're Americans, and we deserve the truth.
[30:27.560 --> 30:43.560]  Thank you for joining us today.
[30:58.560 --> 31:03.560]  It is so enlightening to listen to 90.1 FM,
[31:03.560 --> 31:06.560]  but finding things on the Internet isn't so easy,
[31:06.560 --> 31:09.560]  and neither is finding like-minded people to share it with.
[31:09.560 --> 31:12.560]  Oh, well, I guess you haven't heard of Brave New Books then.
[31:12.560 --> 31:13.560]  Brave New Books?
[31:13.560 --> 31:17.560]  Yes, Brave New Books has all the books and DVDs you're looking for
[31:17.560 --> 31:20.560]  by authors like Alex Jones, Ron Paul and G. Edward Griffin.
[31:20.560 --> 31:24.560]  They even stock Interfood, Berkey products, and Calvin Soaps.
[31:24.560 --> 31:27.560]  There's no way a place like that exists.
[31:27.560 --> 31:28.560]  Go check it out for yourself.
[31:28.560 --> 31:32.560]  It's downtown at 1904 Guadalupe Street, just south of UT.
[31:32.560 --> 31:34.560]  Oh, by UT?
[31:34.560 --> 31:36.560]  There's never anywhere to park down there.
[31:36.560 --> 31:38.560]  Actually, they now offer a free hour of parking
[31:38.560 --> 31:42.560]  for paying customers at the 500 MLK parking facility
[31:42.560 --> 31:44.560]  just behind the bookstore.
[31:44.560 --> 31:47.560]  It does exist, but when are they open?
[31:47.560 --> 31:50.560]  Monday through Saturday, 11 a.m. to 9 p.m.
[31:50.560 --> 31:52.560]  and 1 to 6 p.m. on Sundays.
[31:52.560 --> 31:56.560]  So get them a call at 512-480-2503
[31:56.560 --> 32:00.560]  or check out their events page at bravenewbookstore.com.
[32:03.560 --> 32:06.560]  You're listening to the Logos Radio Network
[32:06.560 --> 32:10.560]  at LogosRadioNetwork.com.
[32:14.560 --> 32:17.560]  Yeah, I got the warrant.
[32:17.560 --> 32:22.560]  I'm not gonna soak them to the head of a man.
[32:22.560 --> 32:25.560]  Prosecute them.
[32:25.560 --> 32:28.560]  Okay.
[32:28.560 --> 32:31.560]  All set.
[32:31.560 --> 32:33.560]  The testings are ready.
[32:33.560 --> 32:36.560]  I'm establishing.
[32:36.560 --> 32:38.560]  The testings are ready.
[32:38.560 --> 32:40.560]  But they change.
[32:40.560 --> 32:44.560]  Well, I need a prosecutor to come and help me.
[32:44.560 --> 32:45.560]  Prosecute them wickedly.
[32:45.560 --> 32:47.560]  They're my mother-in-law and liar.
[32:47.560 --> 32:48.560]  Them tell me.
[32:48.560 --> 32:49.560]  Them are lying.
[32:49.560 --> 32:50.560]  I tell six stories.
[32:50.560 --> 32:51.560]  They don't believe me.
[32:51.560 --> 32:52.560]  They want them to tell me.
[32:52.560 --> 32:55.560]  3% of America vote for me.
[32:55.560 --> 32:56.560]  Okay.
[32:56.560 --> 32:57.560]  We are back.
[32:57.560 --> 32:58.560]  We're in Cal State University.
[32:58.560 --> 32:59.560]  They're there for me.
[32:59.560 --> 33:00.560]  Well, we will.
[33:00.560 --> 33:02.560]  Deborah is not here tonight.
[33:02.560 --> 33:05.560]  She's been taking these findings off.
[33:05.560 --> 33:09.560]  Well, it's left to Eddie and I,
[33:09.560 --> 33:11.560]  and that's why we had so much trouble at the beginning
[33:11.560 --> 33:12.560]  when we have Deborah here.
[33:12.560 --> 33:15.560]  We never have trouble.
[33:15.560 --> 33:17.560]  When we went out,
[33:17.560 --> 33:21.560]  Eddie was talking about the AML.
[33:21.560 --> 33:26.560]  Will you kind of give us a good idea of what that is?
[33:26.560 --> 33:30.560]  AML is anti-money laundering law.
[33:30.560 --> 33:33.560]  So when it discusses AML in the report,
[33:33.560 --> 33:36.560]  it's talking about anti-money laundering.
[33:36.560 --> 33:39.560]  So I just wanted to clarify that for our listeners,
[33:39.560 --> 33:42.560]  I mean, that acronym could have meant anything,
[33:42.560 --> 33:45.560]  but it stands for anti-money laundering.
[33:45.560 --> 33:49.560]  But going back to what we were talking about,
[33:49.560 --> 33:53.560]  a couple of the banks suspected that these entities,
[33:53.560 --> 33:56.560]  specifically, again, this report is on HSBC.
[33:56.560 --> 33:59.560]  So HSBC has been dealing with a bank called
[33:59.560 --> 34:06.560]  Islami Bank Bangladesh and Social Islami Bank Limited.
[34:06.560 --> 34:12.560]  And these banks have been linked to Al Qaeda and Iran
[34:12.560 --> 34:16.560]  and the whole terrorist activities that is coming out
[34:16.560 --> 34:18.560]  of the Middle East.
[34:18.560 --> 34:23.560]  And then we have our U.S. banks doing business with them.
[34:23.560 --> 34:27.560]  Now, on the break, we were asked,
[34:27.560 --> 34:30.560]  how does this really affect the homeowners,
[34:30.560 --> 34:32.560]  the listeners who are listening in on this call,
[34:32.560 --> 34:35.560]  and I'm sure many of you guys and girls are asking
[34:35.560 --> 34:38.560]  about, well, how does it affect me?
[34:38.560 --> 34:44.560]  And, Randy, you brought up a great point on the actual break
[34:44.560 --> 34:48.560]  on the fact that your taxes went up, A,
[34:48.560 --> 34:53.560]  and also the fact that your tax dollars went to bail out
[34:53.560 --> 34:58.560]  these same banks that are dealing in terrorist activity.
[34:58.560 --> 35:03.560]  You believe that that might be a leg to stand on
[35:03.560 --> 35:06.560]  when bringing this up in an actual court procedure.
[35:06.560 --> 35:08.560]  What do you think about that, Randy?
[35:08.560 --> 35:11.560]  This reminds me of Vietnam.
[35:11.560 --> 35:17.560]  During Vietnam, when Nixon got in,
[35:17.560 --> 35:22.560]  I was loading aircraft, fighter aircraft,
[35:22.560 --> 35:25.560]  and before Nixon came in, they were telling our pilots,
[35:25.560 --> 35:29.560]  you can go into the North and you can hit this bridge,
[35:29.560 --> 35:31.560]  but don't hit the next one to it
[35:31.560 --> 35:33.560]  because it's not a political target.
[35:33.560 --> 35:35.560]  You can hit this factory,
[35:35.560 --> 35:36.560]  but don't hit that one across the street
[35:36.560 --> 35:38.560]  because it's not political.
[35:38.560 --> 35:41.560]  When Nixon got in, he said, you take out the bridge.
[35:41.560 --> 35:43.560]  If you have to take out the whole neighborhood
[35:43.560 --> 35:45.560]  to hit the bridge, you take out the bridge.
[35:45.560 --> 35:47.560]  If you need to take out this factory,
[35:47.560 --> 35:49.560]  you take out the neighborhood around it,
[35:49.560 --> 35:51.560]  all of the factories around it, you get the factory.
[35:51.560 --> 35:54.560]  And then he mined Hanoi Harbor.
[35:54.560 --> 35:59.560]  And the Polish complained about the mining
[35:59.560 --> 36:01.560]  of Hanoi's harbor.
[36:01.560 --> 36:05.560]  And it came out that we were giving foreign aid to Poland.
[36:05.560 --> 36:08.560]  Poland was converting it into arms
[36:08.560 --> 36:10.560]  and selling it to the North Vietnamese.
[36:10.560 --> 36:14.560]  This sounds like the same thing.
[36:14.560 --> 36:20.560]  We have the banks supporting these terrorist entities
[36:20.560 --> 36:24.560]  who are accused of these actions
[36:24.560 --> 36:30.560]  that have led to incredible difficulties
[36:30.560 --> 36:37.560]  and led to serious curtailments of my civil rights.
[36:37.560 --> 36:46.560]  And this part of this has to do with the mortgage crisis,
[36:46.560 --> 36:48.560]  which resulted in a dramatic increase
[36:48.560 --> 36:55.560]  in the amount of money available in the marketplace,
[36:55.560 --> 36:59.560]  making the dollar worth much less.
[36:59.560 --> 37:04.560]  If you want to see if there's inflation or not,
[37:04.560 --> 37:06.560]  pay attention to the price of oil.
[37:06.560 --> 37:10.560]  We've been on oil standards for a very long time.
[37:10.560 --> 37:17.560]  Oil, gas has went up at least 50% in the last three or four years,
[37:17.560 --> 37:20.560]  and they say we're not in a period of inflation.
[37:20.560 --> 37:25.560]  I think these banks owe me a dollar a gallon
[37:25.560 --> 37:27.560]  for every gallon I buy.
[37:27.560 --> 37:29.560]  Have I been harmed?
[37:29.560 --> 37:30.560]  Can I claim the cause of action?
[37:30.560 --> 37:32.560]  I believe I absolutely can.
[37:32.560 --> 37:35.560]  That they have dramatically decreased my ability
[37:35.560 --> 37:38.560]  to feel safe in my own country,
[37:38.560 --> 37:42.560]  caused emotional stress and anxiety.
[37:42.560 --> 37:45.560]  That's the cause of action.
[37:45.560 --> 37:49.560]  I really agree.
[37:49.560 --> 37:54.560]  It's interesting because, obviously, as you guys know,
[37:54.560 --> 37:56.560]  there are many regulatory agencies,
[37:56.560 --> 38:01.560]  one being the Office of Foreign Assets Control,
[38:01.560 --> 38:04.560]  which has actually developed a list of prohibited persons
[38:04.560 --> 38:08.560]  in countries which the banks supposedly used
[38:08.560 --> 38:12.560]  to create an Office of Foreign Assets Control filter
[38:12.560 --> 38:16.560]  to identify and halt potentially prohibited transactions.
[38:16.560 --> 38:20.560]  Now, I haven't been able, for some reason,
[38:20.560 --> 38:23.560]  to get access to this list of prohibited persons.
[38:23.560 --> 38:28.560]  I'm doing a couple of searches right now on Google and Bing.
[38:28.560 --> 38:30.560]  It seems like they've hidden it nicely.
[38:30.560 --> 38:32.560]  I'll end up finding it.
[38:32.560 --> 38:38.560]  But the actual report goes on to explain right here
[38:38.560 --> 38:43.560]  that the actual entities
[38:43.560 --> 38:48.560]  have longstanding, severe anti-money laundering deficiencies.
[38:48.560 --> 38:51.560]  They say that HSBC, the U.S. operation,
[38:51.560 --> 38:54.560]  operated its correspondent account
[38:54.560 --> 38:56.560]  for foreign financial institutions
[38:56.560 --> 39:01.560]  with longstanding, severe anti-money laundering deficiencies,
[39:01.560 --> 39:05.560]  including a dysfunctional anti-money laundering monitoring system
[39:05.560 --> 39:07.560]  for account and wire transfer activities.
[39:07.560 --> 39:12.560]  An unacceptable backlog of 17,000 unreviewed alerts,
[39:12.560 --> 39:15.560]  insufficient staffing, inappropriate country
[39:15.560 --> 39:17.560]  and client risk assessments,
[39:17.560 --> 39:20.560]  and late or missing suspicious activity reports,
[39:20.560 --> 39:24.560]  exposing the United States to money laundering,
[39:24.560 --> 39:28.560]  drug trafficking, and terrorist financing risks.
[39:28.560 --> 39:32.560]  Now, that's word for word from this actual governmental report.
[39:32.560 --> 39:37.560]  And to you, you're right, as an American,
[39:37.560 --> 39:40.560]  the terrorist activities, for example, 9-11,
[39:40.560 --> 39:45.560]  after 9-11 occurred, prices skyrocketed
[39:45.560 --> 39:47.560]  and as you brought up the oil industry,
[39:47.560 --> 39:49.560]  and I'm going to touch on that.
[39:49.560 --> 39:52.560]  If I recall correctly, prices skyrocketed
[39:52.560 --> 39:58.560]  and the economy was in a massive halt due to the 9-11 activities.
[39:58.560 --> 40:01.560]  Now, this report actually eludes to the fact
[40:01.560 --> 40:08.560]  that these money laundering, you know, of these banks,
[40:08.560 --> 40:11.560]  that the banks actually supporting terrorist activities
[40:11.560 --> 40:16.560]  has been found as far back as 1991.
[40:16.560 --> 40:21.560]  So I don't think, you know, it's wrong for me to say that.
[40:21.560 --> 40:25.560]  I'm pretty sure that our American banks funded
[40:25.560 --> 40:29.560]  Osama bin Laden and the Al Qaeda terrorist group
[40:29.560 --> 40:34.560]  in taking out our two, actually three world trade centers
[40:34.560 --> 40:40.560]  because the report actually talks about it going back to 1991.
[40:40.560 --> 40:44.560]  That's 20 years ago, guys.
[40:44.560 --> 40:47.560]  These entities have been growing up around us
[40:47.560 --> 40:51.560]  and I'm pretty sure, Randy, on your show,
[40:51.560 --> 40:56.560]  you've gone back to the quote from Thomas Jefferson
[40:56.560 --> 40:59.560]  on the banking institution.
[40:59.560 --> 41:02.560]  Have you not?
[41:02.560 --> 41:04.560]  Well, I'm not sure which one it is.
[41:04.560 --> 41:11.560]  It's the one that if you get a national bank,
[41:11.560 --> 41:14.560]  it's more dangerous to the liberty of the people
[41:14.560 --> 41:16.560]  than a standing army.
[41:16.560 --> 41:17.560]  Yes.
[41:17.560 --> 41:20.560]  Darned if we don't have both.
[41:20.560 --> 41:23.560]  And, you know, it says that the American people
[41:23.560 --> 41:26.560]  allow private banks to control the issue of their currency
[41:26.560 --> 41:29.560]  first by inflation, then by deflation.
[41:29.560 --> 41:32.560]  The banks and corporations that will grow up around them
[41:32.560 --> 41:34.560]  will deprive the people of all property
[41:34.560 --> 41:36.560]  until their children wake up homeless
[41:36.560 --> 41:39.560]  on the continent their fathers conquered.
[41:39.560 --> 41:43.560]  Now, I saw a statistic the other day which is interesting
[41:43.560 --> 41:48.560]  because if you look at what Thomas Jefferson said,
[41:48.560 --> 41:52.560]  he says these corporations and banks
[41:52.560 --> 41:55.560]  deprive the people of all property until their children
[41:55.560 --> 41:58.560]  wake up homeless on the continent their fathers conquered.
[41:58.560 --> 42:02.560]  Now, there are 3.5 million homeless people in America today
[42:02.560 --> 42:07.560]  and there are 18.5 million vacant properties.
[42:07.560 --> 42:09.560]  I think what Thomas Jefferson was talking about
[42:09.560 --> 42:13.560]  is happening today.
[42:13.560 --> 42:17.560]  We have these corporations and these banks
[42:17.560 --> 42:21.560]  who have designed the entire system to fail.
[42:21.560 --> 42:25.560]  And when I say designed the entire system to fail,
[42:25.560 --> 42:29.560]  I mean literally designed it to fail because they had
[42:29.560 --> 42:33.560]  insurances or what the industry has termed as
[42:33.560 --> 42:36.560]  derivatives or credit default swaps,
[42:36.560 --> 42:42.560]  more than 100 times the actual amount of the loan.
[42:42.560 --> 42:48.560]  Now, I'm going to give your listeners a website
[42:48.560 --> 42:52.560]  or an actual thing to Google.
[42:52.560 --> 42:55.560]  Type in on your browsers, ladies and gentlemen,
[42:55.560 --> 42:59.560]  National Information Center.
[42:59.560 --> 43:03.560]  Now, the National Information Center is a repository
[43:03.560 --> 43:06.560]  of financial data and institution characteristics
[43:06.560 --> 43:09.560]  that is collected by the Federal Reserve System.
[43:09.560 --> 43:14.560]  Every quarter and every year, institutions that are
[43:14.560 --> 43:17.560]  registered with the Fed have to provide the Federal Reserve
[43:17.560 --> 43:22.560]  with reports like performance reports, an FRY6,
[43:22.560 --> 43:27.560]  FRY9, various different documentation.
[43:27.560 --> 43:31.560]  When you go to this website, I want you to click
[43:31.560 --> 43:35.560]  the top 50 bank holding companies and then
[43:35.560 --> 43:40.560]  we'll talk to you guys after the break.
[43:40.560 --> 43:42.560]  All right, folks, this is Rule of Law Radio.
[43:42.560 --> 43:45.560]  This is Eddie Craig, Randy Kelton, Deborah Stevens.
[43:45.560 --> 43:48.560]  This is the Friday Night 4-Hour Info Marathon.
[43:48.560 --> 43:50.560]  We'll be right back on the other side of this break,
[43:50.560 --> 43:53.560]  so please hang in and keep listening.
[44:01.560 --> 44:03.560]  The Oakland City Bombay.
[44:03.560 --> 44:05.560]  Top 10 reasons to question the official story.
[44:05.560 --> 44:09.560]  Reason number two, why was the ATF AWOL?
[44:09.560 --> 44:11.560]  Paramedic Tiffany Bible, who was on the scene
[44:11.560 --> 44:14.560]  within five minutes, has stated in an affidavit
[44:14.560 --> 44:16.560]  that agents of the Bureau of Alcohol,
[44:16.560 --> 44:18.560]  back on firearms, told her that they were not
[44:18.560 --> 44:20.560]  in the office that night.
[44:20.560 --> 44:22.560]  EMT Catherine Mallant also overheard one agent say
[44:22.560 --> 44:25.560]  to another, close, is that why we got the page
[44:25.560 --> 44:27.560]  to not come in today?
[44:27.560 --> 44:29.560]  Through Shaw's interview on KSHOR TV,
[44:29.560 --> 44:32.560]  it was also told by ATF agents that they had been
[44:32.560 --> 44:34.560]  paged to not come in to work.
[44:34.560 --> 44:36.560]  The ATF initially denied these claims,
[44:36.560 --> 44:39.560]  and now variously claim that one of their agents
[44:39.560 --> 44:41.560]  was in a free falling elevator, which has been disproven,
[44:41.560 --> 44:43.560]  or that they had been in an all night stick out,
[44:43.560 --> 44:45.560]  or that they had been in a golf tournament.
[44:45.560 --> 44:47.560]  As they try to sort out their lies,
[44:47.560 --> 44:50.560]  all we want to know is, did the ATF receive a warning,
[44:50.560 --> 44:53.560]  and if so, why did they not pass it on to others
[44:53.560 --> 44:55.560]  in the world?
[44:55.560 --> 45:22.560]  For more information, go to okcbombandtruth.com.
[45:25.560 --> 45:51.560]  For more information, go to okcbombandtruth.com.
[45:51.560 --> 46:16.560]  For more information, go to okcbombandtruth.com.
[46:16.560 --> 46:44.560]  For more information, go to okcbombandtruth.com.
[46:44.560 --> 47:12.560]  For more information, go to okcbombandtruth.com.
[47:12.560 --> 47:40.560]  For more information, go to okcbombandtruth.com.
[47:40.560 --> 47:42.560]  When you open up the report,
[47:42.560 --> 47:44.560]  I'll give you guys a few seconds,
[47:44.560 --> 47:46.560]  because it does take some time.
[47:46.560 --> 47:52.560]  I want you guys to go to page 9 of the actual report.
[47:52.560 --> 47:55.560]  And on page 9 of the actual report,
[47:55.560 --> 47:58.560]  there is a column, and it talks about
[47:58.560 --> 48:02.560]  derivatives and off-balance sheet transactions.
[48:02.560 --> 48:05.560]  Now, there's a column right here that states
[48:05.560 --> 48:11.560]  loan commitment. It says $886 billion
[48:11.560 --> 48:15.560]  in loan commitment, which includes secured
[48:15.560 --> 48:17.560]  and unsecured real estate loans,
[48:17.560 --> 48:21.560]  as well as credit card.
[48:21.560 --> 48:24.560]  Then I want you to go to page 10, ladies and gentlemen.
[48:24.560 --> 48:32.560]  On page 10, it has the amount of derivative contract
[48:32.560 --> 48:37.560]  that the bank currently has outstanding.
[48:37.560 --> 48:43.560]  $66 trillion, I said that properly,
[48:43.560 --> 48:50.560]  $66 trillion of credit default swaps and derivatives
[48:50.560 --> 48:56.560]  for a near $900 billion in loan.
[48:56.560 --> 49:02.560]  Now, if...
[49:02.560 --> 49:06.560]  That begs the question.
[49:06.560 --> 49:12.560]  Are the default credit swaps exclusive to
[49:12.560 --> 49:18.560]  consumer mortgage backed securities?
[49:18.560 --> 49:22.560]  That's a great question. Go ahead.
[49:22.560 --> 49:24.560]  I just wondered, are there other things
[49:24.560 --> 49:28.560]  that could take up some of that slack?
[49:28.560 --> 49:30.560]  The derivatives, here we go.
[49:30.560 --> 49:33.560]  It actually explains the derivatives right here.
[49:33.560 --> 49:36.560]  Interest rate contracts, $55 trillion.
[49:36.560 --> 49:39.560]  Foreign exchange contracts, $8 trillion.
[49:39.560 --> 49:42.560]  Equity, commodity, and other contracts, $2 trillion.
[49:42.560 --> 49:45.560]  I guess we can take off the $2 trillion off the top,
[49:45.560 --> 49:49.560]  which leaves us $64 trillion in interest rate contracts,
[49:49.560 --> 49:53.560]  which would be based on your mortgages and your credit cards
[49:53.560 --> 49:57.560]  and the unsecured and secured debts.
[49:57.560 --> 50:00.560]  But to answer your question,
[50:00.560 --> 50:03.560]  derivatives is an unregulated industry.
[50:03.560 --> 50:05.560]  So many people ask me,
[50:05.560 --> 50:08.560]  well, what's the difference between an insurance agreement
[50:08.560 --> 50:10.560]  or contract and a derivative?
[50:10.560 --> 50:12.560]  And it's pretty straightforward.
[50:12.560 --> 50:15.560]  There are two things that will justify the difference
[50:15.560 --> 50:18.560]  between an insurance contract and a derivative contract.
[50:18.560 --> 50:22.560]  An insurance contract is usually on an asset, correct?
[50:22.560 --> 50:25.560]  It's usually your house, your car.
[50:25.560 --> 50:28.560]  Even your life is considered an asset, okay?
[50:28.560 --> 50:30.560]  Your life insurance policy.
[50:30.560 --> 50:33.560]  The other thing about insurances is they are regulated.
[50:33.560 --> 50:37.560]  I can't go buy a car today, go to all states,
[50:37.560 --> 50:39.560]  get an insurance policy with all states,
[50:39.560 --> 50:43.560]  then go to AAA, get an insurance policy on the same car with AAA,
[50:43.560 --> 50:47.560]  and then also go to e-surance and nationwide
[50:47.560 --> 50:50.560]  and all the other ones and get insurance contracts with them,
[50:50.560 --> 50:53.560]  that is what's considered insurance fraud.
[50:53.560 --> 50:56.560]  Derivatives on the other hand, though,
[50:56.560 --> 51:00.560]  and by the way, I do want to put in this quick little side note.
[51:00.560 --> 51:05.560]  JP Morgan Chase is the bank that created the derivative market.
[51:05.560 --> 51:07.560]  So let's put that one out there.
[51:07.560 --> 51:10.560]  They actually sent 20, I think it was about 20
[51:10.560 --> 51:14.560]  extremely bright interns to Florida,
[51:14.560 --> 51:17.560]  and they told them, don't come back until you figure out
[51:17.560 --> 51:20.560]  how to manage all this risk,
[51:20.560 --> 51:25.560]  because they've been investing into higher risk loans.
[51:25.560 --> 51:30.560]  They wanted to figure out a way how they can hold these loans
[51:30.560 --> 51:33.560]  without actually placing them on their books.
[51:33.560 --> 51:37.560]  And that's where you've got the sharing of risk through derivatives.
[51:37.560 --> 51:41.560]  But going back to the difference between insurances and derivatives,
[51:41.560 --> 51:46.560]  a derivative does not actually have to have any type of an asset.
[51:46.560 --> 51:48.560]  At all.
[51:48.560 --> 51:52.560]  I mean, I can bet you that the Detroit Lions
[51:52.560 --> 51:54.560]  are going to win the Super Bowl this year,
[51:54.560 --> 51:58.560]  and if there was somebody, a counterparty,
[51:58.560 --> 52:02.560]  who was willing to provide a derivative on my bet,
[52:02.560 --> 52:07.560]  then I can get as many derivatives as I want, unregulated.
[52:07.560 --> 52:11.560]  And the second thing, again, is it's an unregulated industry.
[52:11.560 --> 52:14.560]  So just like I just said, I can get as many of them as I want.
[52:14.560 --> 52:17.560]  So that's a wonder. Go ahead.
[52:17.560 --> 52:22.560]  This goes back to 1907 when there was a major stock market crash.
[52:22.560 --> 52:25.560]  And the crash was caused because of bucket chops,
[52:25.560 --> 52:27.560]  what they call bucket chops.
[52:27.560 --> 52:30.560]  It was a place where you could go bet on a stock,
[52:30.560 --> 52:32.560]  whether it would increase or decrease,
[52:32.560 --> 52:35.560]  without actually purchasing the stock.
[52:35.560 --> 52:37.560]  That's what the derivatives were.
[52:37.560 --> 52:40.560]  It caused the stock market crash in 1907.
[52:40.560 --> 52:44.560]  The government came in and said there would be no more of that.
[52:44.560 --> 52:47.560]  They made it a felony to do that.
[52:47.560 --> 52:52.560]  Then there was the Great Depression in 1929,
[52:52.560 --> 52:55.560]  and the government put in the Glass-Steagall Act
[52:55.560 --> 52:57.560]  to keep that from ever happening again.
[52:57.560 --> 53:04.560]  They forbade the banks to speculate with their investors
[53:04.560 --> 53:12.560]  or with their people's depositors money.
[53:12.560 --> 53:20.560]  In year two, 1999, the government repealed the Glass-Steagall Act,
[53:20.560 --> 53:25.560]  and the last act of the legislature in the year 2000,
[53:25.560 --> 53:29.560]  before the legislature closed side die,
[53:29.560 --> 53:32.560]  was they moved the restriction on derivatives.
[53:32.560 --> 53:38.560]  It took the bankers exactly eight years to crash the market again.
[53:38.560 --> 53:40.560]  This was a mistake.
[53:40.560 --> 53:42.560]  Wonderful background on that.
[53:42.560 --> 53:45.560]  Actually, I did not know about 1907,
[53:45.560 --> 53:49.560]  so I appreciate the information on that.
[53:49.560 --> 53:59.560]  Go to 60 minutes and do a search for financial weapons of mass destruction.
[53:59.560 --> 54:03.560]  If I see it, it's actually one of the top ones on the bank.
[54:03.560 --> 54:07.560]  Find that. That's a discussion of that issue.
[54:07.560 --> 54:10.560]  This came out in April?
[54:10.560 --> 54:12.560]  Is this the one that came out in April?
[54:12.560 --> 54:13.560]  I think so.
[54:13.560 --> 54:15.560]  Okay.
[54:15.560 --> 54:19.560]  I will look at that after the show.
[54:19.560 --> 54:22.560]  Randy is absolutely correct.
[54:22.560 --> 54:26.560]  In 1999, you have the Glass-Steagall Act,
[54:26.560 --> 54:32.560]  and being repealed by Grant Lynch-Bliley,
[54:32.560 --> 54:36.560]  and the funny thing is, on the New York Fed report,
[54:36.560 --> 54:41.560]  which again, Randy, I don't know where you're going to make it available to your listeners,
[54:41.560 --> 54:43.560]  but it will be available.
[54:43.560 --> 54:46.560]  I'll send you all the actual PDFs,
[54:46.560 --> 54:50.560]  so that way you can give a place for your listeners to download them.
[54:50.560 --> 54:56.560]  Hold on. I can put it on Jurisimprudence immediately,
[54:56.560 --> 55:00.560]  and I'll get it to Deborah, and we'll see if we can't get a link,
[55:00.560 --> 55:04.560]  put on the logos site to that,
[55:04.560 --> 55:06.560]  but right now I don't know where that will be,
[55:06.560 --> 55:12.560]  but I will put a link on the front page of Jurisimprudence.
[55:12.560 --> 55:14.560]  Most of our listeners are familiar with that site.
[55:14.560 --> 55:16.560]  It's jurisimprudence.com.
[55:16.560 --> 55:17.560]  Okay.
[55:17.560 --> 55:18.560]  Go ahead.
[55:18.560 --> 55:23.560]  Well, the reason why I find it awesome
[55:23.560 --> 55:28.560]  that you brought up the Grant Lynch-Bliley Act repealing Glass-Steagall
[55:28.560 --> 55:33.560]  is on page two of this New York Fed report
[55:33.560 --> 55:35.560]  on the bank holdings and their subsidiaries
[55:35.560 --> 55:41.560]  and the structure of which the bank holding companies have decided to grow their companies,
[55:41.560 --> 55:44.560]  it actually, in one of the charts,
[55:44.560 --> 55:48.560]  it uses Grant Lynch-Bliley as a divider.
[55:48.560 --> 55:52.560]  So it goes from 1991 to 1999,
[55:52.560 --> 55:55.560]  and you can actually see just a steady growth,
[55:55.560 --> 56:02.560]  meaning it goes from $4 trillion to $19.99, it goes to $5 trillion.
[56:02.560 --> 56:08.560]  And what that is is the total size of U.S. bank holding companies.
[56:08.560 --> 56:14.560]  So it only goes up by about $1 trillion over the course of about eight years,
[56:14.560 --> 56:16.560]  and then it's got this divider,
[56:16.560 --> 56:21.560]  and it's the Grant Lynch-Bliley Act in 1999.
[56:21.560 --> 56:26.560]  And then after that, you see an explosive growth from $5 trillion
[56:26.560 --> 56:31.560]  all the way up to, it looks like, about $17 trillion
[56:31.560 --> 56:38.560]  in actual total size of company assets in the U.S. bank holding companies.
[56:38.560 --> 56:42.560]  So it goes from a consistent $4 trillion to $5 trillion
[56:42.560 --> 56:48.560]  prior to the deregulation and the repeal of the Glass-Steagall Act
[56:48.560 --> 56:55.560]  to a massive explosion of growth to about $17 trillion in holding.
[56:55.560 --> 57:01.560]  I'd like to point out that the national debt is what, $15.9 trillion?
[57:01.560 --> 57:02.560]  Am I right on that?
[57:02.560 --> 57:05.560]  Is it still at $15.9 trillion or is it a little bit less or more?
[57:05.560 --> 57:08.560]  It's probably more than that by now,
[57:08.560 --> 57:18.560]  but $15.9 trillion is almost double the national net worth.
[57:18.560 --> 57:23.560]  So where are all of these assets coming from?
[57:23.560 --> 57:26.560]  Exactly.
[57:26.560 --> 57:30.560]  I mean, you know, what's interesting is,
[57:30.560 --> 57:34.560]  I've been doing a lot of research lately on the LIBOR scandal,
[57:34.560 --> 57:41.560]  and I was reading somewhere on this LIBOR scandal
[57:41.560 --> 57:46.560]  that there is an actual $300, let me pull it up real quick so I can,
[57:46.560 --> 57:55.560]  here we go, $350 trillion in derivatives.
[57:55.560 --> 57:58.560]  That is a lot of money in derivatives, folks.
[57:58.560 --> 58:00.560]  $350 trillion.
[58:00.560 --> 58:03.560]  That is downright scary.
[58:03.560 --> 58:08.560]  Okay, this is Randy Kalkin and David Stevens at Craig with the radio.
[58:08.560 --> 58:11.560]  We're going to our top of the hour break.
[58:11.560 --> 58:15.560]  We probably have about one more hour.
[58:15.560 --> 58:23.560]  I hope nobody is upset about that because this is absolutely incredible information.
[58:23.560 --> 58:26.560]  And after the next hour, then we'll reopen the phone.
[58:26.560 --> 58:28.560]  So if you have questions or issues,
[58:28.560 --> 58:31.560]  then Fatty's going to stay on through the whole show.
[58:31.560 --> 58:35.560]  So if you have any questions for him after the presentation,
[58:35.560 --> 58:37.560]  be sure to call in.
[58:37.560 --> 58:42.560]  We should probably open the phone about halfway through the next hour
[58:42.560 --> 58:45.560]  and start calling and getting in line.
[58:45.560 --> 58:47.560]  Okay, Randy Kalkin and David Stevens at Craig.
[58:47.560 --> 59:13.560]  We'll be right back.
[59:18.560 --> 59:21.560]  Chapter by chapter, Basic Elements of the Christian Life,
[59:21.560 --> 59:25.560]  clearly presents God's plan of salvation, growing in Christ,
[59:25.560 --> 59:27.560]  and how to build up the church.
[59:27.560 --> 59:30.560]  To order your free New Testament recovery version
[59:30.560 --> 59:33.560]  and Basic Elements of the Christian Life,
[59:33.560 --> 59:40.560]  call Bibles for America toll-free at 888-551-0102.
[59:40.560 --> 59:44.560]  That's 888-551-0102.
[59:44.560 --> 59:49.560]  Or visit us online at bfa.org.
[01:00:14.560 --> 01:00:16.560]  These cab keepers in just a moment.
[01:00:45.560 --> 01:00:48.560]  The Chinese government took surreptitious listening
[01:00:48.560 --> 01:00:51.560]  to a whole new level during the 2008 Beijing Olympics.
[01:00:51.560 --> 01:00:55.560]  Big Brother taxis were fitted with GPS devices and microphones
[01:00:55.560 --> 01:00:59.560]  so police could monitor conversations, track vehicle movements,
[01:00:59.560 --> 01:01:01.560]  and even stop cabs at will.
[01:01:01.560 --> 01:01:03.560]  While the Chinese cab keepers were in character
[01:01:03.560 --> 01:01:05.560]  for our Communist comrades,
[01:01:05.560 --> 01:01:07.560]  the big surprise is Britain's interest
[01:01:07.560 --> 01:01:10.560]  in adopting those same tactics for their 2012 Olympics.
[01:01:10.560 --> 01:01:14.560]  A League Scotland Yard report indicated the Brits found lessons
[01:01:14.560 --> 01:01:17.560]  to be learned from the Chinese tracking techniques.
[01:01:17.560 --> 01:01:20.560]  While it's still not clear how far the Brits are willing to go,
[01:01:20.560 --> 01:01:22.560]  the country's home office has confirmed it is looking
[01:01:22.560 --> 01:01:25.560]  into technology for remotely stopping vehicles.
[01:01:25.560 --> 01:01:28.560]  I'm Dr. Catherine Albrecht for startpage.com,
[01:01:28.560 --> 01:01:30.560]  the world's most private search engine.
[01:01:32.560 --> 01:01:35.560]  In Brazil, one city has come up with a frightening way
[01:01:35.560 --> 01:01:37.560]  to keep kids in school,
[01:01:37.560 --> 01:01:40.560]  embedding locators' spychips in their uniforms.
[01:01:40.560 --> 01:01:42.560]  I'm Dr. Catherine Albrecht, back to tell you
[01:01:42.560 --> 01:01:44.560]  about a growing campaign to put students
[01:01:44.560 --> 01:01:46.560]  under total surveillance.
[01:01:46.560 --> 01:01:47.560]  Next.
[01:01:47.560 --> 01:01:49.560]  Privacy is under attack.
[01:01:49.560 --> 01:01:51.560]  When you give up data about yourself,
[01:01:51.560 --> 01:01:53.560]  you'll never get it back again.
[01:01:53.560 --> 01:01:55.560]  And once your privacy is gone,
[01:01:55.560 --> 01:01:58.560]  you'll find your freedoms will start to vanish too.
[01:01:58.560 --> 01:02:00.560]  So protect your rights.
[01:02:00.560 --> 01:02:03.560]  Say no to surveillance and keep your information to yourself.
[01:02:03.560 --> 01:02:05.560]  Privacy, it's worth hanging onto.
[01:02:05.560 --> 01:02:08.560]  This message is brought to you by startpage.com,
[01:02:08.560 --> 01:02:10.560]  the private search engine alternative
[01:02:10.560 --> 01:02:12.560]  to Google, Yahoo, and Bing.
[01:02:12.560 --> 01:02:15.560]  Start over with Start Page.
[01:02:16.560 --> 01:02:19.560]  Brazil will host the 2016 Olympics,
[01:02:19.560 --> 01:02:22.560]  but one Brazilian city is already on my blacklist.
[01:02:22.560 --> 01:02:24.560]  It's called Vitoria da Conquista,
[01:02:24.560 --> 01:02:27.560]  and it's come up with a creepy plan to stop truancy,
[01:02:27.560 --> 01:02:32.560]  tracking grade schoolers with radio frequency ID spychips.
[01:02:32.560 --> 01:02:35.560]  20,000 Brazilian grade school students have already been ordered
[01:02:35.560 --> 01:02:38.560]  to wear t-shirts embedded with remotely readable
[01:02:38.560 --> 01:02:40.560]  tracking microchips.
[01:02:40.560 --> 01:02:42.560]  A computer monitors the kids,
[01:02:42.560 --> 01:02:44.560]  and if they aren't where they're supposed to be at all times,
[01:02:44.560 --> 01:02:47.560]  it sends a message to the parents' cell phones.
[01:02:47.560 --> 01:02:49.560]  The plan is to have all students
[01:02:49.560 --> 01:02:52.560]  between 4 and 14 chipped within the next year.
[01:02:52.560 --> 01:02:55.560]  How do you say big brother in Portuguese?
[01:02:55.560 --> 01:02:58.560]  I'm Dr. Catherine Albrecht for startpage.com,
[01:02:58.560 --> 01:03:02.560]  the world's most private search engine.
[01:03:29.560 --> 01:03:32.560]  I will pay for the war with my wife.
[01:03:32.560 --> 01:03:36.560]  She ain't gonna pay for the car with my money.
[01:03:36.560 --> 01:03:38.560]  Okay, this is Randy Kelton,
[01:03:38.560 --> 01:03:40.560]  devastated dead Craig with my radio,
[01:03:40.560 --> 01:03:44.560]  and we're talking to our special guest by the Lorde,
[01:03:44.560 --> 01:03:49.560]  and he was absolutely a wealth of information.
[01:03:49.560 --> 01:03:52.560]  And we were talking about derivatives,
[01:03:52.560 --> 01:03:57.560]  and it's still hard for me to wrap my head around
[01:03:57.560 --> 01:04:01.560]  $350 trillion.
[01:04:01.560 --> 01:04:05.560]  If the national net worth of the United States,
[01:04:05.560 --> 01:04:08.560]  everything, land, materials,
[01:04:08.560 --> 01:04:13.560]  everything is just over $7 trillion.
[01:04:13.560 --> 01:04:15.560]  Randy, I got a quick question for you.
[01:04:15.560 --> 01:04:17.560]  Yes.
[01:04:17.560 --> 01:04:20.560]  Do you know the actual net worth of the actual world?
[01:04:20.560 --> 01:04:22.560]  Is there a specific answer for that?
[01:04:22.560 --> 01:04:24.560]  That's what I was alluding to.
[01:04:24.560 --> 01:04:26.560]  It couldn't be $350 trillion.
[01:04:26.560 --> 01:04:29.560]  What is the national net worth?
[01:04:29.560 --> 01:04:33.560]  Are we talking real money or are we just talking FRNs?
[01:04:33.560 --> 01:04:38.560]  We're talking relative values.
[01:04:38.560 --> 01:04:41.560]  Do you know what that is, Fadi?
[01:04:41.560 --> 01:04:43.560]  To be honest with you, no, I don't.
[01:04:43.560 --> 01:04:46.560]  I was actually asking you that question.
[01:04:46.560 --> 01:04:48.560]  Yeah, I know I wouldn't give you a plug nickel
[01:04:48.560 --> 01:04:52.560]  for everybody in Congress.
[01:04:52.560 --> 01:04:56.560]  If the United States national net worth is valued
[01:04:56.560 --> 01:04:58.560]  at around $7 trillion,
[01:04:58.560 --> 01:05:04.560]  the entire world can't be over $50 or $60 trillion.
[01:05:04.560 --> 01:05:11.560]  So what are all of these assets based on?
[01:05:11.560 --> 01:05:15.560]  Once again, derivatives are an unregulated industry,
[01:05:15.560 --> 01:05:17.560]  and you can get a derivative on anything
[01:05:17.560 --> 01:05:21.560]  as long as there's a counterparty who is willing to provide it.
[01:05:21.560 --> 01:05:26.560]  In the loan industry, we've talked about this quite a bit.
[01:05:26.560 --> 01:05:27.560]  Go ahead.
[01:05:27.560 --> 01:05:36.560]  I've been tracking down how the lenders use the derivatives
[01:05:36.560 --> 01:05:43.560]  to make these high-risk loans of value to them to write.
[01:05:43.560 --> 01:05:50.560]  And when I tell people that the lender created the loan
[01:05:50.560 --> 01:05:55.560]  and purchased the property and gave you the warranty deed
[01:05:55.560 --> 01:05:59.560]  and did not want you to pay the money back,
[01:05:59.560 --> 01:06:03.560]  then when I say that, it sounds counterintuitive.
[01:06:03.560 --> 01:06:07.560]  Why would somebody pay $350,000 or $400,000 for a piece of property
[01:06:07.560 --> 01:06:12.560]  for me and not want me to pay it back?
[01:06:12.560 --> 01:06:14.560]  Derivatives, that's why.
[01:06:14.560 --> 01:06:15.560]  Yeah.
[01:06:15.560 --> 01:06:19.560]  That's a good Boston derivative.
[01:06:19.560 --> 01:06:21.560]  Well, I just wanted to, before the break,
[01:06:21.560 --> 01:06:23.560]  we talked about JPMorgan Chase,
[01:06:23.560 --> 01:06:26.560]  and obviously they're the number one bank holding company.
[01:06:26.560 --> 01:06:29.560]  But I just pulled up Bank of America's Sheet,
[01:06:29.560 --> 01:06:31.560]  and guys, it's on the same page.
[01:06:31.560 --> 01:06:33.560]  Page 9, you can look at the loan commitment.
[01:06:33.560 --> 01:06:36.560]  It's $786 billion.
[01:06:36.560 --> 01:06:40.560]  And then on page 10, you'll see the actual derivative contracts.
[01:06:40.560 --> 01:06:42.560]  It's $64 trillion.
[01:06:42.560 --> 01:06:46.560]  So between these two banks, you've actually got yourself
[01:06:46.560 --> 01:06:53.560]  a little bit more than $120 trillion of the $350 trillion in derivative.
[01:06:53.560 --> 01:06:55.560]  And as Randy pointed out,
[01:06:55.560 --> 01:06:58.560]  and I kind of want to gear the remaining of our conversation
[01:06:58.560 --> 01:07:01.560]  on how the homeowner has been affected by all of this,
[01:07:01.560 --> 01:07:05.560]  you see, throughout the last 200 years,
[01:07:05.560 --> 01:07:12.560]  and banking regulations and banking standards
[01:07:12.560 --> 01:07:20.560]  were obviously to give a loan to the best borrowers.
[01:07:20.560 --> 01:07:22.560]  That's why you have these credit ratings.
[01:07:22.560 --> 01:07:26.560]  That's why you have the loan applications
[01:07:26.560 --> 01:07:28.560]  to see how much money you make,
[01:07:28.560 --> 01:07:31.560]  what your debt-to-income ratio is,
[01:07:31.560 --> 01:07:34.560]  how much debt you actually hold right now
[01:07:34.560 --> 01:07:36.560]  versus how much money that you're making.
[01:07:36.560 --> 01:07:41.560]  All of that is necessary for a lender to properly evaluate
[01:07:41.560 --> 01:07:45.560]  whether or not you are going to repay the loan.
[01:07:45.560 --> 01:07:48.560]  It only was in the last 10 years
[01:07:48.560 --> 01:07:52.560]  that these regulations were either completely loosened
[01:07:52.560 --> 01:07:56.560]  or, in most cases, thrown away.
[01:07:56.560 --> 01:08:00.560]  Now, again, as Randy pointed out,
[01:08:00.560 --> 01:08:02.560]  in 1999 you have the deregulation
[01:08:02.560 --> 01:08:06.560]  which allowed the derivative market to explode,
[01:08:06.560 --> 01:08:09.560]  hence the reason for the last 10 years
[01:08:09.560 --> 01:08:12.560]  of subprime lending to exponentially grow
[01:08:12.560 --> 01:08:18.560]  and the amount of borrowers that could get a loan with no money.
[01:08:18.560 --> 01:08:22.560]  I was talking to a couple brokers the other day
[01:08:22.560 --> 01:08:26.560]  and banks would come in with flyers, like product flyers,
[01:08:26.560 --> 01:08:30.560]  and they would actually elude to the fact
[01:08:30.560 --> 01:08:35.560]  that borrowers can actually be lent through the mortgage broker
[01:08:35.560 --> 01:08:37.560]  the down payment.
[01:08:37.560 --> 01:08:39.560]  As soon as the borrower got the loan,
[01:08:39.560 --> 01:08:42.560]  the down payment would be paid back through the loan
[01:08:42.560 --> 01:08:44.560]  back to the broker.
[01:08:44.560 --> 01:08:48.560]  So we're talking about no risk here to the borrower
[01:08:48.560 --> 01:08:53.560]  which is an extremely, extremely huge moral hazard
[01:08:53.560 --> 01:08:56.560]  because, well, heck, if you can go into the bank
[01:08:56.560 --> 01:09:01.560]  and the 20% down payment requirement is no longer a requirement,
[01:09:01.560 --> 01:09:05.560]  then you're just going to go out
[01:09:05.560 --> 01:09:10.560]  and get as much loan money that you could possibly get
[01:09:10.560 --> 01:09:16.560]  and you're going to go into loans that are attractive to you
[01:09:16.560 --> 01:09:17.560]  because of payment.
[01:09:17.560 --> 01:09:19.560]  And I'll give you an example.
[01:09:19.560 --> 01:09:22.560]  I'm sure many of you know what a pay option arm is
[01:09:22.560 --> 01:09:24.560]  or a pay option loan
[01:09:24.560 --> 01:09:27.560]  where you could actually choose your payment amount.
[01:09:27.560 --> 01:09:30.560]  Now, many people chose obviously the lower amount
[01:09:30.560 --> 01:09:32.560]  but what they didn't know was that the lower amount
[01:09:32.560 --> 01:09:35.560]  was a negative amortizing loan
[01:09:35.560 --> 01:09:37.560]  and that every time they've made their payment
[01:09:37.560 --> 01:09:40.560]  they were actually going backwards.
[01:09:40.560 --> 01:09:42.560]  And then, of course, they didn't realize
[01:09:42.560 --> 01:09:45.560]  that the low introductory teaser interest rate
[01:09:45.560 --> 01:09:48.560]  of 3% or 2% or whatever it was
[01:09:48.560 --> 01:09:52.560]  was only an interest rate that was introductory to the lender
[01:09:52.560 --> 01:09:56.560]  to the borrower and that it was going to adjust.
[01:09:56.560 --> 01:10:00.560]  Now, many adjustable rate mortgages
[01:10:00.560 --> 01:10:06.560]  were based on the LIBOR index, which is the London index.
[01:10:06.560 --> 01:10:10.560]  And I'm sure, Randy, through your past shows
[01:10:10.560 --> 01:10:14.560]  you did touch on the LIBOR scandal at least a few times.
[01:10:14.560 --> 01:10:17.560]  And I don't even know if anyone...
[01:10:17.560 --> 01:10:20.560]  Actually, we haven't went to the LIBOR scandal.
[01:10:20.560 --> 01:10:21.560]  Oh, really?
[01:10:21.560 --> 01:10:24.560]  We need to do another show on that one.
[01:10:24.560 --> 01:10:26.560]  Oh, yes.
[01:10:26.560 --> 01:10:28.560]  It is a massive scandal
[01:10:28.560 --> 01:10:34.560]  and the interesting thing about it is
[01:10:34.560 --> 01:10:38.560]  throughout the last three, four years
[01:10:38.560 --> 01:10:42.560]  there have been numerous studies that were done
[01:10:42.560 --> 01:10:47.560]  that suggested that these banks were basically
[01:10:47.560 --> 01:10:51.560]  inflating the interest rates or deflating them
[01:10:51.560 --> 01:10:53.560]  in their favor to profit,
[01:10:53.560 --> 01:10:56.560]  yet nobody did anything about it.
[01:10:56.560 --> 01:11:01.560]  Now, finally, of course, the reason why these LIBOR scandals
[01:11:01.560 --> 01:11:09.560]  became such a mainstream topic in the financial sector
[01:11:09.560 --> 01:11:12.560]  is because on June 27, 2012,
[01:11:12.560 --> 01:11:16.560]  Barclays Bank was fined $200 million
[01:11:16.560 --> 01:11:19.560]  by the Commodity Futures Trading Commission,
[01:11:19.560 --> 01:11:23.560]  $160 million by the United States Department of Justice,
[01:11:23.560 --> 01:11:29.560]  and 59.5 million, looks like Euro,
[01:11:29.560 --> 01:11:31.560]  by the Financial Services Authority
[01:11:31.560 --> 01:11:36.560]  for the attempted manipulation of the LIBOR and Euro Bar rates.
[01:11:36.560 --> 01:11:41.560]  So they're finally beginning to be fined,
[01:11:41.560 --> 01:11:45.560]  but in my opinion, $200 million or $160 million
[01:11:45.560 --> 01:11:49.560]  or 59.5 million euros all added up,
[01:11:49.560 --> 01:11:53.560]  let's just say $500 million or a half a billion
[01:11:53.560 --> 01:11:58.560]  is like not even a flap of the wrist on these guys.
[01:11:58.560 --> 01:12:02.560]  I mean, we're talking about these people are trading
[01:12:02.560 --> 01:12:06.560]  hundreds of billions of dollars in loans
[01:12:06.560 --> 01:12:08.560]  based on these LIBOR rates,
[01:12:08.560 --> 01:12:13.560]  and if they inflate the rates only by 0.01%,
[01:12:13.560 --> 01:12:16.560]  on hundreds of billions of dollars,
[01:12:16.560 --> 01:12:20.560]  that's hundreds of billions of dollars in profits over the years.
[01:12:20.560 --> 01:12:22.560]  You just talked about they're only getting fined
[01:12:22.560 --> 01:12:26.560]  half a billion dollars for all of the things that they've done.
[01:12:26.560 --> 01:12:30.560]  I mean, how many people have been put into foreclosure
[01:12:30.560 --> 01:12:33.560]  after their interest rate adjusted?
[01:12:33.560 --> 01:12:36.560]  To make things worse, their interest rate adjusted
[01:12:36.560 --> 01:12:38.560]  to a higher value than it should have been
[01:12:38.560 --> 01:12:40.560]  because of these LIBOR rate scandals.
[01:12:40.560 --> 01:12:43.560]  That is a major topic of discussion
[01:12:43.560 --> 01:12:48.560]  for causes of action, Randy, that we have been now
[01:12:48.560 --> 01:12:51.560]  focusing on are these LIBOR scandals
[01:12:51.560 --> 01:12:53.560]  and the LIBOR interest rates,
[01:12:53.560 --> 01:12:56.560]  and as well as all the other indexes.
[01:12:56.560 --> 01:12:59.560]  Apparently, Barclay's got fined for a Euro Bar rate,
[01:12:59.560 --> 01:13:02.560]  which we don't use here in America
[01:13:02.560 --> 01:13:04.560]  for our adjustable rate mortgages
[01:13:04.560 --> 01:13:06.560]  or at least I haven't seen any,
[01:13:06.560 --> 01:13:12.560]  but the LIBOR index
[01:13:12.560 --> 01:13:15.560]  is the index that I see the most.
[01:13:15.560 --> 01:13:17.560]  Of course, you get the MTA,
[01:13:17.560 --> 01:13:20.560]  of course, you see a lot of that as well,
[01:13:20.560 --> 01:13:23.560]  but for homeowners and borrowers
[01:13:23.560 --> 01:13:27.560]  listening to this radio segment today,
[01:13:27.560 --> 01:13:30.560]  pull out your loan documentation
[01:13:30.560 --> 01:13:33.560]  and go and find your note.
[01:13:33.560 --> 01:13:36.560]  Sometimes it's called an adjustable rate note
[01:13:36.560 --> 01:13:39.560]  or interest first note or interest only note.
[01:13:39.560 --> 01:13:42.560]  There's variation of names depending on your lender
[01:13:42.560 --> 01:13:44.560]  and the paperwork that is used,
[01:13:44.560 --> 01:13:47.560]  but it's usually about anywhere from three to five pages,
[01:13:47.560 --> 01:13:52.560]  so that's kind of a factor that can help you
[01:13:52.560 --> 01:13:54.560]  in narrowing down your paperwork.
[01:13:54.560 --> 01:14:00.560]  And if you have an adjustable rate mortgage,
[01:14:00.560 --> 01:14:02.560]  go ahead and check the index,
[01:14:02.560 --> 01:14:04.560]  which is usually on the second page.
[01:14:04.560 --> 01:14:06.560]  It describes the index
[01:14:06.560 --> 01:14:10.560]  and the way that they adjust your interest rates.
[01:14:10.560 --> 01:14:16.560]  And if you see the words LIBOR, that's L-I-B-O-R,
[01:14:16.560 --> 01:14:20.560]  you need to begin investigating your mortgage.
[01:14:20.560 --> 01:14:22.560]  Also, of course, if you see the words
[01:14:22.560 --> 01:14:25.560]  mortgage electronic registration system,
[01:14:25.560 --> 01:14:27.560]  you need to investigate your mortgage.
[01:14:27.560 --> 01:14:31.560]  And what needs to happen is we as a people
[01:14:31.560 --> 01:14:34.560]  and the reason why Randy and I have gotten along so well
[01:14:34.560 --> 01:14:37.560]  is because Randy shares many of the same views
[01:14:37.560 --> 01:14:41.560]  that I do when it comes to litigating these
[01:14:41.560 --> 01:14:44.560]  and when it comes to attacking.
[01:14:44.560 --> 01:14:47.560]  The best defense is an offense.
[01:14:47.560 --> 01:14:52.560]  And I believe that the way that Randy acts
[01:14:52.560 --> 01:14:55.560]  is attacking...
[01:14:55.560 --> 01:15:03.560]  Everyone on this show will agree that I am very offensive.
[01:15:03.560 --> 01:15:10.560]  Usually right after that beer we talked about on the break.
[01:15:10.560 --> 01:15:16.560]  Well, you know, and I like that about you.
[01:15:16.560 --> 01:15:21.560]  We need more people to stand up for their rights
[01:15:21.560 --> 01:15:23.560]  because I tell you what, guys,
[01:15:23.560 --> 01:15:26.560]  if we don't fight for our rights,
[01:15:26.560 --> 01:15:29.560]  we're going to wake up one day
[01:15:29.560 --> 01:15:32.560]  and the little rights that we do have right now
[01:15:32.560 --> 01:15:34.560]  are going to be gone.
[01:15:34.560 --> 01:15:36.560]  And you're going to see the Constitution wiped out
[01:15:36.560 --> 01:15:38.560]  and everything else gone within.
[01:15:38.560 --> 01:15:40.560]  All the liberties that our founding fathers
[01:15:40.560 --> 01:15:45.560]  founded this great country on is going to be gone.
[01:15:45.560 --> 01:15:48.560]  The Supreme Court was very clear.
[01:15:48.560 --> 01:15:53.560]  Rights belong to the belligerent litigants.
[01:15:53.560 --> 01:15:55.560]  There you go.
[01:15:55.560 --> 01:15:56.560]  And I work at it.
[01:15:56.560 --> 01:16:01.560]  Actually, it's belligerent. Claim it.
[01:16:01.560 --> 01:16:04.560]  That's why I keep getting here.
[01:16:04.560 --> 01:16:09.560]  Well, you know, I completely agree.
[01:16:09.560 --> 01:16:13.560]  I mean, you know, if you're not exercising your freedom,
[01:16:13.560 --> 01:16:15.560]  your liberty, your rights,
[01:16:15.560 --> 01:16:18.560]  and mind you, ladies and gentlemen,
[01:16:18.560 --> 01:16:22.560]  these are rights that we have
[01:16:22.560 --> 01:16:24.560]  that other people in different countries
[01:16:24.560 --> 01:16:27.560]  are currently dying for.
[01:16:27.560 --> 01:16:29.560]  I'm sure everybody knows about the revolutions
[01:16:29.560 --> 01:16:31.560]  that are happening in the Middle East
[01:16:31.560 --> 01:16:34.560]  or that are taking part in Europe.
[01:16:34.560 --> 01:16:36.560]  You know, people are dying for these freedoms.
[01:16:36.560 --> 01:16:40.560]  It's time for us to act on them, people.
[01:16:40.560 --> 01:16:42.560]  Okay, this is Randy Kelton,
[01:16:42.560 --> 01:16:46.560]  Deborah Stevens and Greg with our radio.
[01:16:46.560 --> 01:16:50.560]  We're going to still keep the cardboard closed
[01:16:50.560 --> 01:16:52.560]  for one more segment,
[01:16:52.560 --> 01:16:54.560]  and then we'll open it up.
[01:16:54.560 --> 01:16:56.560]  Thank you for being patient with us.
[01:16:56.560 --> 01:17:00.560]  We'll be right back.
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[01:19:22.560 --> 01:19:50.560]  Randy, I wanted to touch on something that Bank of America admitted to.
[01:19:50.560 --> 01:19:56.560]  And for anybody who has a Bank of America loan,
[01:19:56.560 --> 01:19:59.560]  this information that I'm about to present to you
[01:19:59.560 --> 01:20:04.560]  is an actual public admission by Bank of America themselves
[01:20:04.560 --> 01:20:09.560]  in one of their annual reports that they provide to agencies.
[01:20:09.560 --> 01:20:13.560]  It states, our derivative businesses may expose us
[01:20:13.560 --> 01:20:17.560]  to unexpected risks and potential losses.
[01:20:17.560 --> 01:20:20.560]  It goes on to say, we are a party to a large number
[01:20:20.560 --> 01:20:24.560]  of derivatives transactions, including credit derivatives.
[01:20:24.560 --> 01:20:28.560]  Our derivative businesses may expose us to unexpected market,
[01:20:28.560 --> 01:20:32.560]  credit, and operational risks that could cause us to suffer
[01:20:32.560 --> 01:20:35.560]  unexpected losses and have an adverse effect
[01:20:35.560 --> 01:20:39.560]  on our financial condition and results of operation.
[01:20:39.560 --> 01:20:42.560]  It then goes on to say, many derivative instruments
[01:20:42.560 --> 01:20:45.560]  are individually negotiated and non-standardized.
[01:20:45.560 --> 01:20:49.560]  So again, as we spoke earlier, it's an unregulated industry
[01:20:49.560 --> 01:20:51.560]  and they've admitted to that.
[01:20:51.560 --> 01:20:55.560]  Then it says, the fact that these derivative instruments
[01:20:55.560 --> 01:20:58.560]  are individually negotiated and non-standardized,
[01:20:58.560 --> 01:21:02.560]  it can make exiting, transferring, or settling
[01:21:02.560 --> 01:21:04.560]  some of the positions difficult.
[01:21:04.560 --> 01:21:08.560]  Many derivatives require, now here's the interesting part,
[01:21:08.560 --> 01:21:12.560]  ladies and gentlemen, many derivatives require
[01:21:12.560 --> 01:21:15.560]  that we deliver to the counterparty.
[01:21:15.560 --> 01:21:18.560]  So the counterparty would be the one who insured
[01:21:18.560 --> 01:21:21.560]  or who provided the derivative to Bank of America.
[01:21:21.560 --> 01:21:27.560]  The underlying security, loan, or other obligation
[01:21:27.560 --> 01:21:30.560]  in order to receive payments.
[01:21:30.560 --> 01:21:31.560]  Let's repeat that.
[01:21:31.560 --> 01:21:36.560]  Many derivatives require that we deliver to the counterparty
[01:21:36.560 --> 01:21:41.560]  the underlying security, loan, or other obligation
[01:21:41.560 --> 01:21:43.560]  in order to receive payments.
[01:21:43.560 --> 01:21:46.560]  Now what is the underlying security?
[01:21:46.560 --> 01:21:49.560]  Well, that is your mortgage or your deed of trust.
[01:21:49.560 --> 01:21:52.560]  The loan is your promissory note.
[01:21:52.560 --> 01:21:56.560]  So the next sentence, which is the kicker.
[01:21:56.560 --> 01:21:58.560]  You ready for this, guys?
[01:21:58.560 --> 01:22:05.560]  It says, in a number of cases, we do not hold
[01:22:05.560 --> 01:22:10.560]  and may not be able to obtain the underlying security
[01:22:10.560 --> 01:22:14.560]  loan or other obligation.
[01:22:14.560 --> 01:22:16.560]  I think we should repeat that.
[01:22:16.560 --> 01:22:20.560]  In a number of cases, now, how many is the number?
[01:22:20.560 --> 01:22:21.560]  God knows.
[01:22:21.560 --> 01:22:25.560]  We do not hold and may not be able to obtain
[01:22:25.560 --> 01:22:31.560]  the underlying security loan or other obligation.
[01:22:31.560 --> 01:22:34.560]  They have just publicly admitted in one of their annual reports
[01:22:34.560 --> 01:22:38.560]  that they don't even hold and they can't even obtain
[01:22:38.560 --> 01:22:43.560]  your loan, your mortgage, deed of trust, your note,
[01:22:43.560 --> 01:22:45.560]  or any other obligation.
[01:22:45.560 --> 01:22:49.560]  The next sentence says, this could cause us to forfeit
[01:22:49.560 --> 01:22:55.560]  the payments due to us under these contracts.
[01:22:55.560 --> 01:22:58.560]  Now, wait a minute.
[01:22:58.560 --> 01:23:02.560]  I read that somewhat different.
[01:23:02.560 --> 01:23:06.560]  Well, it could cause it unless you got some crooked judge
[01:23:06.560 --> 01:23:09.560]  that's willing to uphold your side of it,
[01:23:09.560 --> 01:23:13.560]  even when there's no law that lets him do it.
[01:23:13.560 --> 01:23:18.560]  Well, Randy, I'd like to hear your way of...
[01:23:18.560 --> 01:23:21.560]  I'm listening to that, and especially since we're speaking
[01:23:21.560 --> 01:23:27.560]  to derivatives, the derivatives market,
[01:23:27.560 --> 01:23:34.560]  made my position that the blender who initiated the loan
[01:23:34.560 --> 01:23:39.560]  was also the pool creator of the pool that was bundled
[01:23:39.560 --> 01:23:43.560]  with other pools, and I'm sorry, and the blender was also
[01:23:43.560 --> 01:23:47.560]  the issuer of the security.
[01:23:47.560 --> 01:23:51.560]  In many cases, you are right.
[01:23:51.560 --> 01:23:52.560]  Pardon me?
[01:23:52.560 --> 01:23:55.560]  I said in many cases, you are absolutely correct.
[01:23:55.560 --> 01:24:00.560]  According to Fannie Mae, this is how the structure works.
[01:24:00.560 --> 01:24:04.560]  And I was trying to figure out how they could sell the note
[01:24:04.560 --> 01:24:05.560]  more than once.
[01:24:05.560 --> 01:24:07.560]  Well, it turns out they don't.
[01:24:07.560 --> 01:24:09.560]  They don't sell the note at all.
[01:24:09.560 --> 01:24:13.560]  They put the note in the hands of a custodian,
[01:24:13.560 --> 01:24:17.560]  either the pool custodian or the custodian
[01:24:17.560 --> 01:24:20.560]  of the past through trust.
[01:24:20.560 --> 01:24:26.560]  And Edius the security instrument created with the note
[01:24:26.560 --> 01:24:29.560]  as collateral for the security instrument
[01:24:29.560 --> 01:24:31.560]  and what Bank of America is saying,
[01:24:31.560 --> 01:24:34.560]  they have these security instruments out there
[01:24:34.560 --> 01:24:37.560]  for which they cannot produce the note.
[01:24:37.560 --> 01:24:43.560]  And that's because they've issued more than one security instrument
[01:24:43.560 --> 01:24:47.560]  for each note.
[01:24:47.560 --> 01:24:51.560]  That's why they can't produce it because there's only one note.
[01:24:51.560 --> 01:24:53.560]  They can only produce it once.
[01:24:53.560 --> 01:24:57.560]  And then they have a number of other securities out there.
[01:24:57.560 --> 01:24:59.560]  It's unregulated.
[01:24:59.560 --> 01:25:04.560]  I suppose you can't come back on them and call that fraud
[01:25:04.560 --> 01:25:06.560]  since there's no regulation on it.
[01:25:06.560 --> 01:25:10.560]  But I guess you could anyway because fraud is fraud
[01:25:10.560 --> 01:25:12.560]  when it's regulated or not.
[01:25:12.560 --> 01:25:16.560]  But that's why I took it that there's a tacit admission
[01:25:16.560 --> 01:25:21.560]  that they have done what we've been saying they did.
[01:25:21.560 --> 01:25:25.560]  That's why they didn't want you to pay the note back
[01:25:25.560 --> 01:25:29.560]  because if it defaults, they collect on all the derivatives.
[01:25:29.560 --> 01:25:31.560]  Yes.
[01:25:31.560 --> 01:25:38.560]  But what this is saying is that their derivative businesses
[01:25:38.560 --> 01:25:42.560]  may expose them to unexpected risks and potential losses.
[01:25:42.560 --> 01:25:46.560]  So we have to start at the first part because I understand
[01:25:46.560 --> 01:25:48.560]  completely your point right there, Randy,
[01:25:48.560 --> 01:25:51.560]  and you are on point with everything you said.
[01:25:51.560 --> 01:25:54.560]  But the way that they worded it,
[01:25:54.560 --> 01:25:57.560]  they're talking about the fact that many of these,
[01:25:57.560 --> 01:26:00.560]  they're positions in these derivative instruments.
[01:26:00.560 --> 01:26:04.560]  So remember they have $64 trillion in derivatives on their books
[01:26:04.560 --> 01:26:08.560]  according to the Federal Reserve report that I pulled up.
[01:26:08.560 --> 01:26:11.560]  But it's saying that many of these derivatives require
[01:26:11.560 --> 01:26:16.560]  that we deliver to the counterparty the underlying security,
[01:26:16.560 --> 01:26:20.560]  which would be the mortgage or deed of trust
[01:26:20.560 --> 01:26:23.560]  because that's the security instrument securing the loan.
[01:26:23.560 --> 01:26:26.560]  Then it says the underlying security, loan,
[01:26:26.560 --> 01:26:32.560]  or other obligation in order to receive payment on the derivative.
[01:26:32.560 --> 01:26:36.560]  Then it goes on to say in a number of cases we do not hold
[01:26:36.560 --> 01:26:40.560]  and may not be able to obtain the underlying security,
[01:26:40.560 --> 01:26:42.560]  loan, or other obligation.
[01:26:42.560 --> 01:26:46.560]  So what they're alluding to is the fact that because many of the
[01:26:46.560 --> 01:26:49.560]  counterparties or the insurance companies that provided these
[01:26:49.560 --> 01:26:54.560]  derivatives are asking for the proof of the security,
[01:26:54.560 --> 01:26:59.560]  loan, or other obligation that because they are unable to obtain
[01:26:59.560 --> 01:27:03.560]  them or that they do not hold them, this could cause them to
[01:27:03.560 --> 01:27:06.560]  forfeit the payment due under these contracts,
[01:27:06.560 --> 01:27:10.560]  these contracts meaning the derivative contract.
[01:27:10.560 --> 01:27:18.560]  Do you think based on this document that we could go to a court
[01:27:18.560 --> 01:27:23.560]  against when Bank of America is involved in a foreclosure
[01:27:23.560 --> 01:27:28.560]  and they maintain that they are the holder of the note,
[01:27:28.560 --> 01:27:33.560]  that we could consider this document as establishing collateral
[01:27:33.560 --> 01:27:35.560]  on a stop-off?
[01:27:35.560 --> 01:27:40.560]  Yes, because what you're doing is you're saying,
[01:27:40.560 --> 01:27:44.560]  okay, so in this courtroom you are through your words,
[01:27:44.560 --> 01:27:46.560]  because most of the time they never provide you with...
[01:27:46.560 --> 01:27:49.560]  Me personally, I've never seen an original document in the last
[01:27:49.560 --> 01:27:52.560]  three years, three, four years.
[01:27:52.560 --> 01:27:56.560]  But what you could say is, well, it's funny because publicly
[01:27:56.560 --> 01:28:00.560]  you actually admitted to that in a number of cases you do not hold
[01:28:00.560 --> 01:28:03.560]  and you may not be able to obtain the underlying security or the loan
[01:28:03.560 --> 01:28:07.560]  and what you could do is you can send them a request for admission
[01:28:07.560 --> 01:28:13.560]  and what I would do is I would word it in a format where it is
[01:28:13.560 --> 01:28:18.560]  almost identical to the way that they worded it in this annual
[01:28:18.560 --> 01:28:23.560]  report and then ask them, request for admission,
[01:28:23.560 --> 01:28:28.560]  a legal admission, we want to know whether you actually hold
[01:28:28.560 --> 01:28:31.560]  the underlying security loan or other obligation or you can even
[01:28:31.560 --> 01:28:33.560]  word it in the fact where you could say,
[01:28:33.560 --> 01:28:39.560]  is it true that in so-and-so case you do not hold
[01:28:39.560 --> 01:28:43.560]  and you may not be able to obtain my underlying security or loan?
[01:28:43.560 --> 01:28:51.560]  I mean, you put it in a format in which you are just rewording
[01:28:51.560 --> 01:28:57.560]  their own words and then requesting them to admit whether your loan
[01:28:57.560 --> 01:29:02.560]  is one of those quote-unquote number of cases that they do not hold
[01:29:02.560 --> 01:29:05.560]  and may not be able to obtain your security or your loan.
[01:29:05.560 --> 01:29:09.560]  And then you get them in a position in which they have admitted it now.
[01:29:09.560 --> 01:29:13.560]  Yes, and as I understand under the FDCPA,
[01:29:13.560 --> 01:29:18.560]  the banks are required to maintain a record-keeping system
[01:29:18.560 --> 01:29:24.560]  sufficient to eliminate error.
[01:29:24.560 --> 01:29:28.560]  Therefore, we go to the bank and say,
[01:29:28.560 --> 01:29:32.560]  since you are required to keep this type of system
[01:29:32.560 --> 01:29:35.560]  and all your records are collected electronically,
[01:29:35.560 --> 01:29:40.560]  please provide us all of those, a list of all the notes for which,
[01:29:40.560 --> 01:29:45.560]  for all derivatives for which you do not hold your loan.
[01:29:45.560 --> 01:29:48.560]  So we can determine if ours is one of them.
[01:29:48.560 --> 01:29:50.560]  This is Randy Kelton, Jeff Stevens and Craig.
[01:29:50.560 --> 01:29:52.560]  We look at the radio.
[01:29:52.560 --> 01:29:55.560]  We're going to open up the phone lines as soon as you come back.
[01:29:55.560 --> 01:29:58.560]  512-646-1984.
[01:29:58.560 --> 01:30:00.560]  We'll be right back.
[01:30:00.560 --> 01:30:03.560]  The Noble Lie, Oklahoma City, 1995 will change forever
[01:30:03.560 --> 01:30:06.560]  the way you look at the true nature of terrorism.
[01:30:06.560 --> 01:30:08.560]  Based on the damage pattern to the building,
[01:30:08.560 --> 01:30:10.560]  what the government says is impossible.
[01:30:10.560 --> 01:30:13.560]  The grand jury did not want to hear anything I had to say.
[01:30:13.560 --> 01:30:17.560]  The decision was made not to pursue any man, those individuals.
[01:30:17.560 --> 01:30:22.560]  Some of these columns were ripped up, shredded, tossed around.
[01:30:22.560 --> 01:30:26.560]  The people that did the things they did knew doggone well what they were doing.
[01:30:26.560 --> 01:30:31.560]  We'll expose the cover up now at thenoblelie.com.
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[01:32:34.560 --> 01:32:46.560]  Okay, we are back.
[01:32:46.560 --> 01:32:53.560]  If we could have gone out, I was talking about
[01:32:53.560 --> 01:32:59.560]  based on this public document
[01:32:59.560 --> 01:33:02.560]  that that establishes reason to believe
[01:33:02.560 --> 01:33:07.560]  that the bank may not actually be able to produce the note
[01:33:07.560 --> 01:33:12.560]  and I mentioned that the records were in electronic format.
[01:33:12.560 --> 01:33:15.560]  I didn't have time to explain why I went there.
[01:33:15.560 --> 01:33:18.560]  We're asking for a very large amount of information.
[01:33:18.560 --> 01:33:22.560]  However, since it's in electronic format,
[01:33:22.560 --> 01:33:25.560]  you can stick it on my little flash drive here.
[01:33:25.560 --> 01:33:28.560]  Just because it's a large amount of information
[01:33:28.560 --> 01:33:32.560]  doesn't mean it's undoing the honor risk to produce it
[01:33:32.560 --> 01:33:38.560]  because we don't need it in a hard copy format.
[01:33:38.560 --> 01:33:40.560]  We can do it in electronic format,
[01:33:40.560 --> 01:33:45.560]  but Fadi wanted to go to another issue based on that.
[01:33:45.560 --> 01:33:49.560]  You want to pick this up, Fadi?
[01:33:49.560 --> 01:33:51.560]  Yeah, I know we're going to,
[01:33:51.560 --> 01:33:52.560]  our callers had a few minutes,
[01:33:52.560 --> 01:33:54.560]  but before we go to the calls,
[01:33:54.560 --> 01:33:59.560]  I wanted to touch on a patented process
[01:33:59.560 --> 01:34:03.560]  of modifying a negotiable instrument.
[01:34:03.560 --> 01:34:07.560]  This particular patent is,
[01:34:07.560 --> 01:34:11.560]  I'm able to attach it to three companies,
[01:34:11.560 --> 01:34:14.560]  Merrill Lynch, J.P. Morgan Chase,
[01:34:14.560 --> 01:34:16.560]  as well as Citigroup,
[01:34:16.560 --> 01:34:20.560]  and the abstract of the patent.
[01:34:20.560 --> 01:34:23.560]  The abstract is kind of like the overview of the patent
[01:34:23.560 --> 01:34:26.560]  before you actually get into the patent.
[01:34:26.560 --> 01:34:28.560]  Read the following.
[01:34:28.560 --> 01:34:31.560]  When the deposit of a negotiable instrument
[01:34:31.560 --> 01:34:35.560]  is done electronically by using a digital image
[01:34:35.560 --> 01:34:37.560]  of the negotiable instrument,
[01:34:37.560 --> 01:34:40.560]  rather than the negotiable instrument itself,
[01:34:40.560 --> 01:34:41.560]  during the process,
[01:34:41.560 --> 01:34:44.560]  at least two negotiable instruments may exist.
[01:34:44.560 --> 01:34:47.560]  So the reason why I went to this is because
[01:34:47.560 --> 01:34:49.560]  Randy touched on the fact that
[01:34:49.560 --> 01:34:52.560]  many of their records are electronic.
[01:34:52.560 --> 01:34:55.560]  It then says the physical negotiable instrument
[01:34:55.560 --> 01:34:57.560]  and the digital image of the negotiable instrument
[01:34:57.560 --> 01:35:00.560]  being the two negotiable instruments that exist.
[01:35:00.560 --> 01:35:04.560]  It then says to change the physical negotiable instrument
[01:35:04.560 --> 01:35:06.560]  to a non-negotiable instrument,
[01:35:06.560 --> 01:35:09.560]  a bank or other financial institution
[01:35:09.560 --> 01:35:11.560]  may send a transmission
[01:35:11.560 --> 01:35:15.560]  to modify the appearance of the negotiable instrument,
[01:35:15.560 --> 01:35:21.560]  thus effectively voiding the physical negotiable instrument.
[01:35:21.560 --> 01:35:23.560]  The reason why this patent is so interesting,
[01:35:23.560 --> 01:35:25.560]  and again, like I said,
[01:35:25.560 --> 01:35:27.560]  we were able to tie it to JV Morgan Chase,
[01:35:27.560 --> 01:35:30.560]  Citigroup, and Merrill Lynch,
[01:35:30.560 --> 01:35:32.560]  which is Bank of America now.
[01:35:32.560 --> 01:35:34.560]  The reason why it's interesting is because
[01:35:34.560 --> 01:35:38.560]  they decided to void out the actual physical copy,
[01:35:38.560 --> 01:35:41.560]  not the digital image.
[01:35:41.560 --> 01:35:46.560]  Now, there are only like four or five negotiable instruments,
[01:35:46.560 --> 01:35:49.560]  or one being a check,
[01:35:49.560 --> 01:35:52.560]  or one being a promissory note.
[01:35:52.560 --> 01:35:55.560]  So when they use the word negotiable instrument,
[01:35:55.560 --> 01:35:58.560]  it can pretty much mean any of these instruments.
[01:35:58.560 --> 01:36:00.560]  So let's take the idea of a promissory note.
[01:36:00.560 --> 01:36:04.560]  This is saying that when they are depositing
[01:36:04.560 --> 01:36:06.560]  these promissory notes into their databases,
[01:36:06.560 --> 01:36:09.560]  that they are creating another quote-unquote
[01:36:09.560 --> 01:36:12.560]  negotiable instrument, which is the digital image.
[01:36:12.560 --> 01:36:14.560]  However, realistically, Randy,
[01:36:14.560 --> 01:36:16.560]  I don't think you and I can walk into a bank
[01:36:16.560 --> 01:36:20.560]  and cash a picture of a check or a digital image of a check.
[01:36:20.560 --> 01:36:24.560]  The bank's not going to cash that.
[01:36:24.560 --> 01:36:26.560]  Wait a minute, sure they would.
[01:36:26.560 --> 01:36:29.560]  They would give us a digital image of the money.
[01:36:29.560 --> 01:36:35.560]  Oh, man.
[01:36:35.560 --> 01:36:37.560]  We've addressed this before.
[01:36:37.560 --> 01:36:42.560]  If you come into the bank with a photocopy of a check,
[01:36:42.560 --> 01:36:44.560]  they will say, wonderful.
[01:36:44.560 --> 01:36:47.560]  We'll give you photocopies of the money.
[01:36:47.560 --> 01:36:52.560]  If you want the real money, bring the real check.
[01:36:52.560 --> 01:36:53.560]  Okay, go ahead.
[01:36:53.560 --> 01:36:56.560]  The point was proven by you.
[01:36:56.560 --> 01:37:01.560]  Dennis says that they actually send out a transmission
[01:37:01.560 --> 01:37:04.560]  to modify the appearance of the negotiable instrument,
[01:37:04.560 --> 01:37:11.560]  thus effectively voiding the physical negotiable instrument.
[01:37:11.560 --> 01:37:15.560]  Why are they voiding out the physical instrument?
[01:37:15.560 --> 01:37:19.560]  When you said that, I'm thinking,
[01:37:19.560 --> 01:37:22.560]  what in the world are they thinking?
[01:37:22.560 --> 01:37:27.560]  If they avoid the original physical instrument,
[01:37:27.560 --> 01:37:36.560]  how does the electronic image become anything itself but void?
[01:37:36.560 --> 01:37:42.560]  Because it is merely a reflection of the original instrument.
[01:37:42.560 --> 01:37:45.560]  You're exactly right.
[01:37:45.560 --> 01:37:49.560]  That's why when you brought up the electronic...
[01:37:49.560 --> 01:37:51.560]  I wasn't going to bring this up,
[01:37:51.560 --> 01:37:56.560]  but you transitioned perfectly about the electronic record keeping.
[01:37:56.560 --> 01:38:01.560]  But this particular patented process is talking about the fact
[01:38:01.560 --> 01:38:05.560]  that they destroy and effectively void out the physical copy.
[01:38:05.560 --> 01:38:09.560]  And I had the same thoughts you did when I first read this.
[01:38:09.560 --> 01:38:12.560]  I mean, you're exactly right.
[01:38:12.560 --> 01:38:16.560]  It's a digital mirror of the physical document,
[01:38:16.560 --> 01:38:19.560]  and then they void out the physical document.
[01:38:19.560 --> 01:38:21.560]  Makes no sense.
[01:38:21.560 --> 01:38:23.560]  Yes.
[01:38:23.560 --> 01:38:28.560]  If it's a digital mirror and you destroy the original,
[01:38:28.560 --> 01:38:32.560]  it reflects nothing.
[01:38:32.560 --> 01:38:36.560]  Not because if they want to give me this document
[01:38:36.560 --> 01:38:39.560]  and say that this is the original,
[01:38:39.560 --> 01:38:42.560]  give me about 10 minutes,
[01:38:42.560 --> 01:38:48.560]  and I'll give you one back that will have the same word count,
[01:38:48.560 --> 01:38:52.560]  the margins that all be the same.
[01:38:52.560 --> 01:38:57.560]  It will look, for all intents and purposes, exactly the same,
[01:38:57.560 --> 01:39:04.560]  but it will have some very interesting wording stuck into the document.
[01:39:04.560 --> 01:39:13.560]  And it will be virtually impossible to tell which one is the mirror image of the original.
[01:39:13.560 --> 01:39:15.560]  Because there is no original.
[01:39:15.560 --> 01:39:17.560]  It's been voided and is probably destroyed now.
[01:39:17.560 --> 01:39:24.560]  The electronic imaging is not sophisticated enough for that.
[01:39:24.560 --> 01:39:27.560]  This is an issue I brought up with the clerks.
[01:39:27.560 --> 01:39:30.560]  And at the Travis County clerk, I asked the clerk,
[01:39:30.560 --> 01:39:36.560]  when a document is sent to you, do you maintain the original?
[01:39:36.560 --> 01:39:37.560]  They said, no, we don't.
[01:39:37.560 --> 01:39:39.560]  We scan it in and we send it back.
[01:39:39.560 --> 01:39:43.560]  At what resolution do you scan?
[01:39:43.560 --> 01:39:44.560]  And the clerk didn't know.
[01:39:44.560 --> 01:39:46.560]  They had to go back and ask the supergeeks.
[01:39:46.560 --> 01:39:51.560]  And it was what I expected, 300 DPI.
[01:39:51.560 --> 01:39:59.560]  At 300 DPI, if I printed a document at 600 DPI,
[01:39:59.560 --> 01:40:03.560]  and that document contained a signature on it,
[01:40:03.560 --> 01:40:09.560]  that wasn't a real signature, but was a printed signature.
[01:40:09.560 --> 01:40:13.560]  And then you scan that document at 300 DPI,
[01:40:13.560 --> 01:40:17.560]  it would pixelate through your DPI.
[01:40:17.560 --> 01:40:23.560]  But when you expanded it out till you could see the pixelations,
[01:40:23.560 --> 01:40:30.560]  you would not be able to see the 600 DPI pixelation of the image.
[01:40:30.560 --> 01:40:37.560]  So what would keep me, if I'm a producing document,
[01:40:37.560 --> 01:40:43.560]  from taking a signature, taking my signature,
[01:40:43.560 --> 01:40:51.560]  a borrower signature, scanning it at 612, 1400 DPI,
[01:40:51.560 --> 01:40:57.560]  printing it on a document at 600, then send it to the clerk
[01:40:57.560 --> 01:41:00.560]  and they scan it at 300.
[01:41:00.560 --> 01:41:07.560]  From the 300 DPI document, there is absolutely no way to determine
[01:41:07.560 --> 01:41:10.560]  that the original was for you.
[01:41:10.560 --> 01:41:15.560]  And if this doesn't take a rocket scientist,
[01:41:15.560 --> 01:41:18.560]  ask any 10-year-old.
[01:41:18.560 --> 01:41:22.560]  He could do that in a heartbeat.
[01:41:22.560 --> 01:41:26.560]  So the electronic filing system at this point
[01:41:26.560 --> 01:41:29.560]  is absolutely technologically insufficient.
[01:41:29.560 --> 01:41:33.560]  I asked the clerk to propose legislation
[01:41:33.560 --> 01:41:38.560]  that would require the filer of a document
[01:41:38.560 --> 01:41:42.560]  to maintain the original and make the original open
[01:41:42.560 --> 01:41:49.560]  for public inspection under the Open Records Act.
[01:41:49.560 --> 01:41:54.560]  Otherwise, we have a prescription for fraud.
[01:41:54.560 --> 01:41:59.560]  Now they're claiming to destroy the originals,
[01:41:59.560 --> 01:42:02.560]  so there's no way to prove up.
[01:42:02.560 --> 01:42:07.560]  One of the things I'm looking to do that we haven't gotten to yet
[01:42:07.560 --> 01:42:12.560]  is take a deed of trust and go inside it
[01:42:12.560 --> 01:42:17.560]  and do some major manipulation on the wording
[01:42:17.560 --> 01:42:19.560]  and print it back out.
[01:42:19.560 --> 01:42:24.560]  Word can't be the same, but it's just like the original.
[01:42:24.560 --> 01:42:26.560]  But it's totally different.
[01:42:26.560 --> 01:42:32.560]  But then ask the court to determine which one is in fact the original.
[01:42:32.560 --> 01:42:35.560]  That's a good idea.
[01:42:35.560 --> 01:42:37.560]  They've got weak spots.
[01:42:37.560 --> 01:42:47.560]  This patent, are you aware of any commercial software
[01:42:47.560 --> 01:42:54.560]  or even internal software that has been produced based on this patent?
[01:42:54.560 --> 01:42:56.560]  No, sir, I am not.
[01:42:56.560 --> 01:43:00.560]  We actually just got notice of this particular patent
[01:43:00.560 --> 01:43:01.560]  within the last two weeks.
[01:43:01.560 --> 01:43:08.560]  This is one of those ones that is a little bit newer to us than the others.
[01:43:08.560 --> 01:43:12.560]  There's about 179 patents that we have access to.
[01:43:12.560 --> 01:43:14.560]  I mean, you have access to their public records,
[01:43:14.560 --> 01:43:22.560]  but 179 that we have analyzed that when tied together and strung together,
[01:43:22.560 --> 01:43:31.560]  it means a process that shows systemic fraud was actually patented.
[01:43:31.560 --> 01:43:37.560]  But the interesting thing is not one of these patents by itself is really illegal.
[01:43:37.560 --> 01:43:43.560]  It's all of them together, analyzed in a fashion,
[01:43:43.560 --> 01:43:49.560]  which shows that the entire process was patented and that it's all completely illegal.
[01:43:49.560 --> 01:43:52.560]  And that is exactly how they can do it.
[01:43:52.560 --> 01:43:54.560]  They've wanted a complex and hard to find.
[01:43:54.560 --> 01:43:56.560]  Randy Kelton did the statement to the court,
[01:43:56.560 --> 01:44:00.560]  and with that radio, we'll be right back.
[01:44:00.560 --> 01:44:03.560]  It is so enlightening to listen to 90.1 FM,
[01:44:03.560 --> 01:44:06.560]  but finding things on the Internet isn't so easy,
[01:44:06.560 --> 01:44:09.560]  and neither is finding like-minded people to share it with.
[01:44:09.560 --> 01:44:12.560]  Oh, well, I guess you haven't heard of Brave New Books then.
[01:44:12.560 --> 01:44:13.560]  Brave New Books?
[01:44:13.560 --> 01:44:16.560]  Yes, Brave New Books has all the books and DVDs you're looking for
[01:44:16.560 --> 01:44:20.560]  by authors like Alex Jones, Ron Paul, and G. Albert Griffin.
[01:44:20.560 --> 01:44:24.560]  They even stock inner food, Berkey products, and Calvin Soaps.
[01:44:24.560 --> 01:44:26.560]  There's no way a place like that exists.
[01:44:26.560 --> 01:44:28.560]  Go check it out for yourself.
[01:44:28.560 --> 01:44:32.560]  It's downtown at 1904 Guadalupe Street, just south of UT.
[01:44:32.560 --> 01:44:35.560]  Oh, by UT? There's never anywhere to park down there.
[01:44:35.560 --> 01:44:39.560]  Actually, they now offer a free hour of parking for paying customers
[01:44:39.560 --> 01:44:43.560]  at the 500 MLK parking facility just behind the bookstore.
[01:44:43.560 --> 01:44:46.560]  It does exist, but when are they open?
[01:44:46.560 --> 01:44:49.560]  Monday through Saturday, 11 a.m. to 9 p.m.,
[01:44:49.560 --> 01:44:51.560]  and 1 to 6 p.m. on Sundays.
[01:44:51.560 --> 01:44:55.560]  So give them a call at 512-480-2503,
[01:44:55.560 --> 01:44:58.560]  or check out their events page at bravenewbookstore.com.
[01:45:00.560 --> 01:45:03.560]  Are you the plaintiff or defendant in a lawsuit?
[01:45:03.560 --> 01:45:06.560]  Win your case without an attorney with Jurisdictionary,
[01:45:06.560 --> 01:45:10.560]  the affordable, easy-to-understand four-CD course
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[01:45:14.560 --> 01:45:18.560]  If you have a lawyer, know what your lawyer should be doing.
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[01:45:25.560 --> 01:45:27.560]  and now you can too.
[01:45:27.560 --> 01:45:30.560]  Jurisdictionary was created by a licensed attorney
[01:45:30.560 --> 01:45:33.560]  with 22 years of case-winning experience.
[01:45:33.560 --> 01:45:35.560]  Even if you're not in a lawsuit,
[01:45:35.560 --> 01:45:38.560]  you can learn what everyone should understand
[01:45:38.560 --> 01:45:40.560]  about the principles and practices
[01:45:40.560 --> 01:45:42.560]  that control our American courts.
[01:45:42.560 --> 01:45:44.560]  You'll receive our audio classroom,
[01:45:44.560 --> 01:45:46.560]  video seminar, tutorials,
[01:45:46.560 --> 01:45:48.560]  forms for civil cases,
[01:45:48.560 --> 01:45:51.560]  prosay tactics, and much more.
[01:45:51.560 --> 01:45:54.560]  Please visit ruleoflawradio.com
[01:45:54.560 --> 01:45:56.560]  and click on the banner.
[01:45:56.560 --> 01:46:09.560]  These are called toll-free 866-LAW-EZ.
[01:46:26.560 --> 01:46:29.560]  Okay, come as lucky as you are.
[01:46:29.560 --> 01:46:31.560]  Come on, sing Jerry, come on!
[01:46:31.560 --> 01:46:36.560]  As we go, so shall we be.
[01:46:36.560 --> 01:46:38.560]  The words on the tree she puts
[01:46:38.560 --> 01:46:40.560]  from so many fruits,
[01:46:40.560 --> 01:46:44.560]  the words that put on the floor of me.
[01:46:44.560 --> 01:46:47.560]  The one and only car that drives me.
[01:46:47.560 --> 01:46:51.560]  There's my steps to try and
[01:46:51.560 --> 01:46:53.560]  remember what goes around points.
[01:46:53.560 --> 01:47:00.560]  As we go, so shall we be.
[01:47:00.560 --> 01:47:03.560]  So listen to this song.
[01:47:03.560 --> 01:47:08.560]  Come on, please, let it in the road.
[01:47:08.560 --> 01:47:12.560]  Come on, come on, come on, come on.
[01:47:12.560 --> 01:47:15.560]  As we go, so shall we be.
[01:47:15.560 --> 01:47:17.560]  Okay, we are back.
[01:47:17.560 --> 01:47:19.560]  We'll be kept in secret.
[01:47:19.560 --> 01:47:27.560]  Let me go.
[01:47:27.560 --> 01:47:32.560]  Come on.
[01:47:32.560 --> 01:47:34.560]  Come on.
[01:47:34.560 --> 01:47:39.560]  Come on, come on, come on, come on, come on, come on, come on, come on, come on.
[01:47:39.560 --> 01:47:40.560]  And Chris,
[01:47:40.560 --> 01:47:43.560]  Chris is not on topic,
[01:47:43.560 --> 01:47:46.560]  but we'll take you right at the top of the hour.
[01:47:46.560 --> 01:47:51.040]  We're going to do one more segment.
[01:47:51.040 --> 01:48:00.680]  I asked Fadi and he said he could do another 10 to 12 hours, but maybe I expect we'll have
[01:48:00.680 --> 01:48:01.680]  it back.
[01:48:01.680 --> 01:48:08.640]  I'd like to bring it back for a show on the library issue and maybe get into some more
[01:48:08.640 --> 01:48:11.600]  sophisticated aspects of what we're talking about.
[01:48:11.600 --> 01:48:16.880]  I have personally found this most intriguing and most enlightening.
[01:48:16.880 --> 01:48:19.840]  Fadi, can you give us a little more?
[01:48:19.840 --> 01:48:31.680]  When we talked earlier, you mentioned about the money laundering and the offshore banks
[01:48:31.680 --> 01:48:35.720]  and companies that they're using.
[01:48:35.720 --> 01:48:47.000]  Do you have any information that we can point directly at companies or countries where the
[01:48:47.000 --> 01:48:55.160]  banks are potentially sending the money from our loans that would be likely to come back
[01:48:55.160 --> 01:49:07.120]  at us in the form of either terrorist activity or other un-American-oriented activities?
[01:49:07.120 --> 01:49:12.400]  Well, I'm going to pull up my information for you.
[01:49:12.400 --> 01:49:16.600]  I have all the subsidiaries and I will give you all that information.
[01:49:16.600 --> 01:49:18.000]  Hold on one second.
[01:49:18.000 --> 01:49:27.200]  While you're getting that, I'm interested in how we can look at this and how we can
[01:49:27.200 --> 01:49:38.000]  interpret this in a way that's not general and global, but very individual and personal.
[01:49:38.000 --> 01:49:45.720]  I think we can get there because the individual is taking money out of his pocket and giving
[01:49:45.720 --> 01:49:46.960]  it to this bank.
[01:49:46.960 --> 01:49:56.320]  This is not like some vague threat or general threat against the United States or some huge
[01:49:56.320 --> 01:50:01.760]  company sending money to a terrorist organization.
[01:50:01.760 --> 01:50:08.720]  This is a company sending my money, money that I'm paying them in profit and they're
[01:50:08.720 --> 01:50:14.320]  using that money to then use against my own country.
[01:50:14.320 --> 01:50:20.320]  I would think I would have a very direct claim and cause of action in that issue.
[01:50:20.320 --> 01:50:22.680]  Okay, are you ready?
[01:50:22.680 --> 01:50:29.440]  Yeah, I mean, I can just start naming, I'm under the Bank of America Corporation right
[01:50:29.440 --> 01:50:32.600]  now and I'm going to go down the list.
[01:50:32.600 --> 01:50:35.240]  That's my favorite target.
[01:50:35.240 --> 01:50:40.040]  Oh, I love them too, especially when you're attacking them.
[01:50:40.040 --> 01:50:51.840]  Simon Island, Brazil, Mexico, Peru, United Kingdom, Luxembourg, Australia, Singapore,
[01:50:51.840 --> 01:50:58.960]  Netherlands, like I said, I'm just going, they have about, my list right now, I have
[01:50:58.960 --> 01:51:03.960]  about 7, 1800 of them just from Bank of America, so I'm just, I'm literally going down one
[01:51:03.960 --> 01:51:13.600]  by one, India, Costa Rica, Republic of Mauritius, Singapore, Philippines, Channel Islands, I
[01:51:13.600 --> 01:51:22.840]  have no clue where that is, People's Republic of China, okay, People's Republic of China.
[01:51:22.840 --> 01:51:28.800]  That one we kind of knew about is I understand people who's Republic of China, the Puged
[01:51:28.800 --> 01:51:34.600]  Bank of America, selling them the same note 20 to 30 times.
[01:51:34.600 --> 01:51:37.480]  And that's the truth, that's what happens to them.
[01:51:37.480 --> 01:51:42.320]  In that case, it may be a good thing because they're undermining the economy of another
[01:51:42.320 --> 01:51:43.320]  country.
[01:51:43.320 --> 01:51:49.520]  Well, they're undermining the economy of more than 80 countries.
[01:51:49.520 --> 01:51:56.160]  You know, I mean, okay, well, okay, our, hold on, our call and board is really beginning
[01:51:56.160 --> 01:51:58.240]  to light up.
[01:51:58.240 --> 01:52:05.040]  I'd like to thank them to Chris and Ramon, I know you were on first, but you don't mind.
[01:52:05.040 --> 01:52:12.960]  I would like to take Leslie from Pennsylvania, and he says she's my girlfriend and we're
[01:52:12.960 --> 01:52:21.480]  both grandparents, so that's appropriate, but she is very much involved in the mortgage
[01:52:21.480 --> 01:52:22.480]  issue.
[01:52:22.480 --> 01:52:26.400]  Well, now I don't say that because I don't want to penalize her just for being on the
[01:52:26.400 --> 01:52:29.400]  show of a caller.
[01:52:29.400 --> 01:52:33.760]  Leslie, are you there?
[01:52:33.760 --> 01:52:37.000]  Yes, I'd be here.
[01:52:37.000 --> 01:52:43.600]  Okay, you have a question or comment for Fed.
[01:52:43.600 --> 01:52:47.320]  Well, is he looking at the criminal?
[01:52:47.320 --> 01:52:52.360]  Are they looking at prosecuting them criminally?
[01:52:52.360 --> 01:52:55.400]  We actually are not prosecuting.
[01:52:55.400 --> 01:53:01.640]  We can't, well, we personally can't prosecute criminally, that has to come from, you know,
[01:53:01.640 --> 01:53:04.920]  Department of Justice or someone who has the ability to prosecute criminally.
[01:53:04.920 --> 01:53:09.600]  Well, I think she's meaning are you gathering evidence to be presented to these people so
[01:53:09.600 --> 01:53:14.000]  that these individuals or entities could be prosecuted criminally?
[01:53:14.000 --> 01:53:22.240]  Well, we do have and we are unable to disclose, but we do have some sources in Sweden right
[01:53:22.240 --> 01:53:28.520]  now that have and also the United Kingdom that have contacted us on doing some private
[01:53:28.520 --> 01:53:35.200]  investigations and then we also do have a couple states, state governments that have
[01:53:35.200 --> 01:53:40.320]  hired our services as well, but I'm unable to disclose who they are because these are
[01:53:40.320 --> 01:53:49.240]  some extremely high-profile private investigations, so the answer is for both, really.
[01:53:49.240 --> 01:53:57.640]  So, mostly you're developing information for civil litigation or civil issues?
[01:53:57.640 --> 01:54:04.200]  Mostly civil litigation, yes, but we do have a couple of clients who are very, very high
[01:54:04.200 --> 01:54:06.560]  up clients who are pissed off.
[01:54:06.560 --> 01:54:13.640]  Like I said, we have one in Sweden, one in the UK, and we have a couple actual state
[01:54:13.640 --> 01:54:17.240]  officials in a couple of states here in America.
[01:54:17.240 --> 01:54:21.760]  I think part of the reason Leslie asked that question is on this show.
[01:54:21.760 --> 01:54:30.360]  Eddie is the traffic expert, I'm the due process expert, and we often talk about how
[01:54:30.360 --> 01:54:39.080]  to go after public officials criminally, and I've talked on the show about using criminal
[01:54:39.080 --> 01:54:47.680]  prosecution in order to leverage these bankers into coming into the court and making a deal
[01:54:47.680 --> 01:54:52.520]  we can't pass up in order to keep themselves from being prosecuted.
[01:54:52.520 --> 01:55:00.440]  Yeah, I've been working with quiet titles, and I've just done a couple of them now that
[01:55:00.440 --> 01:55:09.520]  are going after the criminal law civilly to get quiet title.
[01:55:09.520 --> 01:55:12.400]  Well yeah, that's the same way that a federal suit would work.
[01:55:12.400 --> 01:55:17.320]  You would use the Title 18 to assert the criminal activity giving you the civil action under
[01:55:17.320 --> 01:55:21.280]  Title 42, so you can do that in the state level as well.
[01:55:21.280 --> 01:55:26.160]  They can violate a criminal law at the state level that would give you a tort at the state
[01:55:26.160 --> 01:55:27.160]  level.
[01:55:27.160 --> 01:55:36.360]  Yes, if a criminal law is violated, and in the process you were denied due process, due
[01:55:36.360 --> 01:55:44.280]  process is a harm per se, and you don't have to show that you were harmed, only that your
[01:55:44.280 --> 01:55:47.200]  due process right was violated.
[01:55:47.200 --> 01:55:52.520]  And we have some things like the FTCPA, the violation of the FTC Fair Debt Collections
[01:55:52.520 --> 01:55:59.240]  Practices Act is considered a civil rights violation, and a civil rights violation is
[01:55:59.240 --> 01:56:01.880]  harm on its face.
[01:56:01.880 --> 01:56:10.920]  So we wouldn't have to show harm, and in working on this for quite a while it's becoming apparent
[01:56:10.920 --> 01:56:18.440]  that the thing they seem to be to most fear is the criminal prosecution.
[01:56:18.440 --> 01:56:23.720]  But it's time we started leveraging toward criminal prosecution, and I'm considering,
[01:56:23.720 --> 01:56:28.480]  I'm saying even criminally prosecuting judges.
[01:56:28.480 --> 01:56:36.760]  We have a case, we have a case where a guy filed an FTCPA suit.
[01:56:36.760 --> 01:56:42.120]  He's up to date on this mortgage, but he wants to be sure he's paying the right entity.
[01:56:42.120 --> 01:56:50.880]  And he filed it in the state court under FTCPA, the defendant did not remove.
[01:56:50.880 --> 01:57:01.960]  So they stipulated to the state jurisdiction, the judge dismissed with prejudice.
[01:57:01.960 --> 01:57:08.640]  Now he may dismiss, but not with prejudice, that's a punitive action.
[01:57:08.640 --> 01:57:16.200]  So what we're saying is that the FTCPA claim was very clearly specifically made.
[01:57:16.200 --> 01:57:28.680]  The judge's action had the effect of nullifying legislation passed by the United States Congress.
[01:57:28.680 --> 01:57:38.720]  And that borders on sedition, it is certainly an act in violation of 18 U.S. Code 242, in
[01:57:38.720 --> 01:57:45.920]  that the judge exerted or purported to exert an authority he does not expressly have, and
[01:57:45.920 --> 01:57:51.120]  in the process denied the litigant in the form of free access to re-enjoining the right,
[01:57:51.120 --> 01:57:52.600]  because it's a similar statute.
[01:57:52.600 --> 01:57:53.600]  This was in California.
[01:57:53.600 --> 01:57:58.720]  It was a statute in California, I can't quote it off the top of my head, like the
[01:57:58.720 --> 01:58:05.800]  Kent, Texas, but most states have a statute that reflects 18 U.S. Code 242, in Texas
[01:58:05.800 --> 01:58:12.280]  it's 39.03 penal code, which is essentially exactly the same thing.
[01:58:12.280 --> 01:58:18.120]  So I'm suggesting you file criminal charges against the federal judge, the state judge,
[01:58:18.120 --> 01:58:19.120]  in the Fed.
[01:58:19.120 --> 01:58:25.640]  If it were a federal judge, you file criminal charges against the federal judge in the state,
[01:58:25.640 --> 01:58:32.440]  and let them explain to a local grand jury where they got that authority.
[01:58:32.440 --> 01:58:41.360]  A couple of those, even if we don't get any diet, will absolutely get their attention.
[01:58:41.360 --> 01:58:50.840]  This is Randy Kelk, Debbie Stevens, Eddie Craig, hang on Leslie, we'll be right back.
[01:59:41.360 --> 01:59:56.200]  at 5-888-551-0102, or visit us online at bfa.org.