ROL_2015-06-05_16k_Hr1-2.timecode

[00:00.000 --> 00:07.760]  Following news flash is brought to you by the Lone Star Lowdown, providing your daily
[00:07.760 --> 00:09.760]  bulletins for the commodities market.
[00:09.760 --> 00:23.040]  Today in history, news updates and the inside scoop into the tides of the alternative.
[00:23.040 --> 00:29.560]  Markets for the 21st of May, 2015, gold opened up at $1,204.09 now, silver $17.12.
[00:29.560 --> 00:42.440]  Texas crude $58.98 a barrel and Bitcoin is currently sitting at about 236 US currency.
[00:42.440 --> 00:47.640]  Today in history, Saturday, May 21st, 1932, Amelia Earhart lands in the field completing
[00:47.640 --> 00:50.400]  the first transatlantic solo flight by a woman.
[00:50.400 --> 00:53.680]  She set off the day before from Harbor Grace, Newfoundland, Canada.
[00:53.680 --> 00:58.320]  She was initially aiming for Paris in her single engine Lockheed Vega 5B, but after
[00:58.320 --> 01:03.340]  encountering storms and a burnt exhaust pipe, she ended up landing in a pasture at Coolmore
[01:03.340 --> 01:12.520]  in Northern Ireland, ending her 14-hour, 56-minute flight.
[01:12.520 --> 01:17.120]  In recent news, Michael C. Ford, a State Department employee who has worked out of the U.S. Embassy
[01:17.120 --> 01:22.240]  in London since 2009, was arrested at Hartsfield Jackson Atlanta International Airport this
[01:22.240 --> 01:26.800]  past Sunday and appeared in a federal court today for apparently using government computers
[01:26.800 --> 01:31.360]  to extort college-age women into gathering sexually explicit material for him.
[01:31.360 --> 01:38.520]  He is also being charged with computer hacking and cyber-stalking.
[01:38.520 --> 01:42.400]  Clean-up crews have been hard at work picking up patches of crude petroleum off the beach
[01:42.400 --> 01:47.400]  and offshore waters from a pipeline that ruptured spewing as much as 2,500 barrels into San
[01:47.400 --> 01:51.380]  Refugio State Beach and into the Pacific Ocean west of Santa Barbara.
[01:51.380 --> 01:55.320]  This mess was caused when an underground pipeline running parallel to the coastal highway burst
[01:55.320 --> 01:57.280]  on Tuesday for no apparent reason.
[01:57.280 --> 02:02.160]  If estimates are correct, this makes it the biggest spill since the 1969 offshore oil
[02:02.160 --> 02:07.400]  well blowout that dumped 80,000 to 100,000 barrels of crude petroleum into the Santa
[02:07.400 --> 02:13.640]  Barbara Channel.
[02:13.640 --> 02:17.680]  Last night, 13 trillion electron volts were created at the four collision points spaced
[02:17.680 --> 02:19.900]  around the Large Hydrogen Collider's tunnel.
[02:19.900 --> 02:24.600]  The collider has been through a planned two-year refurbishing after its first run in 2012,
[02:24.600 --> 02:26.760]  which only produced 8 trillion electron volts.
[02:26.760 --> 02:31.160]  In early April, after a slight delay, twin proton beams circulated the collider's 7-kilometer
[02:31.160 --> 02:35.280]  ring 30 stories below the Swiss-French border for the first time in two years.
[02:35.280 --> 02:37.160]  The first collisions began in early May.
[02:37.160 --> 02:41.280]  However, yesterday's collisions are treading into never-before-reached levels of energy,
[02:41.280 --> 02:43.960]  in effect setting a new energy record.
[02:43.960 --> 02:47.600]  The Lone Star Lowdown is currently looking for sponsors to give a product or a service
[02:47.600 --> 02:49.560]  that you would like to advertise in the lowdown.
[02:49.560 --> 02:52.560]  Feel free to give us a call at 210-863-5617.
[02:52.560 --> 02:57.320]  This has been your lowdown for May 21, 2015.
[03:22.560 --> 03:50.520]  Okay, howdy, howdy, this is Randy Kelton, rules of our radio.
[03:50.520 --> 03:59.520]  We're on this, the fifth day of June 2015, we're almost halfway through the year already,
[03:59.520 --> 04:05.320]  and it's finally beginning to warm up a little in Texas, we've been freezing down here.
[04:05.320 --> 04:10.320]  It's June and we've just begun to crack 90 degrees.
[04:10.320 --> 04:15.280]  It's generally about this time we start pushing up over 100, so we've had a pretty good year
[04:15.280 --> 04:23.160]  this year, had a little bit of rain, which we enjoyed, and I'm going to start out with
[04:23.160 --> 04:34.720]  a document that was sent to me by Ms. Leslie in Pennsylvania, it is a lawsuit by the County
[04:34.720 --> 04:47.600]  of Beaufort, South Carolina, Gary Kubic and Dale Butts, Gary Kubic as the County Administrator
[04:47.600 --> 04:53.120]  and Dale Butts as the Registrar of Deeds.
[04:53.120 --> 05:03.840]  This one is somewhat unique and interesting as unlike the ill-fated suit that Craig Watkins
[05:03.840 --> 05:14.400]  here in Dallas County filed against MERS, it did not try to claim the fees that MERS
[05:14.400 --> 05:17.080]  failed to pay.
[05:17.080 --> 05:23.680]  What this suit claimed is that the documents that MERS filed in the record or caused to
[05:23.680 --> 05:29.680]  be filed in the record were all fraudulent on their face.
[05:29.680 --> 05:38.680]  It's a very well-structured argument that says that the whole concept of MERS was specifically
[05:38.680 --> 05:49.600]  defined, designed to undermine the county recording practices and procedures.
[05:49.600 --> 05:58.960]  The first properties filed with a recorder in the United States were filed in 1645.
[05:58.960 --> 06:07.520]  The original pilgrims did this because they understood the incredible importance of some
[06:07.520 --> 06:15.400]  repository of land records to keep people fighting over borders.
[06:15.400 --> 06:24.000]  From the beginning, they were doing this, even before that, there were practices where
[06:24.000 --> 06:30.840]  people exploring new lands would lay marker stones.
[06:30.840 --> 06:36.520]  When they laid these stones, a line drawn from one stone to the next would form a boundary
[06:36.520 --> 06:43.520]  that the explorer or the explorer's country could then claim.
[06:43.520 --> 06:50.160]  This is a long-standing practice and it was a good and effective practice.
[06:50.160 --> 06:56.240]  Every county in the country has a county recorder.
[06:56.240 --> 07:04.720]  Every piece of property in the country is registered in that recorder's office.
[07:04.720 --> 07:11.520]  If you or anyone else goes to purchase property, the idea is if you go to the county recorder
[07:11.520 --> 07:19.400]  of deeds or registrar of deeds, whatever they happen to call them in your jurisdiction,
[07:19.400 --> 07:29.240]  and you look in the public record, you have a right to trust what you find there.
[07:29.240 --> 07:34.080]  If you want to sell me a piece of property before I buy that property, I need to do some
[07:34.080 --> 07:35.080]  due diligence.
[07:35.080 --> 07:40.360]  The due diligence is to do a title search.
[07:40.360 --> 07:43.920]  The title search is done in the public record.
[07:43.920 --> 07:50.880]  In Texas, we have a specific statute, and we've had people find it in a number of other states,
[07:50.880 --> 07:57.040]  and it must exist in every state that has a registrar of deeds.
[07:57.040 --> 08:04.760]  What this statute says is, is any claim against real property not properly acknowledged or
[08:04.760 --> 08:12.080]  proven, acknowledged in notary stamp, proven to witnesses, and filed in the public record
[08:12.080 --> 08:15.520]  is void as to the holder.
[08:15.520 --> 08:22.280]  So the states have said, doesn't matter what claim you have, if you haven't made that claim
[08:22.280 --> 08:28.360]  public, you cannot express the claim.
[08:28.360 --> 08:35.400]  Problemers had, or problem the banks had when they came up with this securitization scheme.
[08:35.400 --> 08:43.760]  There's a lot of confusion about what that really is, but there shouldn't be.
[08:43.760 --> 08:50.720]  All of this stuff about securitizing the note, that's really a misnomer.
[08:50.720 --> 08:55.200]  It's a term I think the banks made up to confuse everybody.
[08:55.200 --> 09:00.280]  What they're doing is factoring, and factoring's been around forever.
[09:00.280 --> 09:06.680]  Say you're a roofer, and you get a whole bunch of work, you get a hail storm in, and knocks
[09:06.680 --> 09:12.080]  holes in every roof in your neighborhood, and you get more work than you can do, and
[09:12.080 --> 09:18.560]  you've got crews out there tearing off roofs, and you're buying product, and laying up decking,
[09:18.560 --> 09:23.680]  putting these roofs on, and your clients aren't all paying you.
[09:23.680 --> 09:32.680]  So you wind up with all of your available funding invested in jobs, and now your customer's
[09:32.680 --> 09:38.160]  not paying you quickly, because they're waiting for their insurance checks or whatever.
[09:38.160 --> 09:42.120]  So you get to the point you can't function anymore, until you go to the bank, and you
[09:42.120 --> 09:43.120]  say, go to the bank.
[09:43.120 --> 09:50.840]  Well, I got all these accounts receivables, but I don't have the money to make you a deal.
[09:50.840 --> 09:56.200]  You collect these for me, and you keep 10%.
[09:56.200 --> 09:57.840]  I'll factor these out to you.
[09:57.840 --> 10:05.520]  You buy them from me at a 10% discount, then you get to collect and keep all the money.
[10:05.520 --> 10:07.040]  That's factoring.
[10:07.040 --> 10:14.360]  That is precisely what the banks did with your promissory note.
[10:14.360 --> 10:18.440]  They didn't securitize the note.
[10:18.440 --> 10:24.640]  They used the note as security for an income stream.
[10:24.640 --> 10:30.520]  They factored the income stream that the note guaranteed.
[10:30.520 --> 10:37.840]  The factoring process, that's what amounted to the security.
[10:37.840 --> 10:41.520]  They sold the right to collect the money on your note.
[10:41.520 --> 10:44.720]  That was the security.
[10:44.720 --> 10:54.400]  The note secured the security, and it gets confusing because you have security, the term
[10:54.400 --> 11:00.680]  security is overused, because they call that process securitization.
[11:00.680 --> 11:07.720]  But the note is a security instrument securing that promise to pay, and the deed of trust
[11:07.720 --> 11:11.160]  is a security instrument securing the note.
[11:11.160 --> 11:15.200]  So everything is a security, so it gets kind of confusing.
[11:15.200 --> 11:19.520]  So they do not sell the note to the trust.
[11:19.520 --> 11:25.060]  They sell the right to collect the income stream to the trust.
[11:25.060 --> 11:26.560]  So this was their idea.
[11:26.560 --> 11:35.400]  You had all of these long-term residential mortgages, and you had these investment funds,
[11:35.400 --> 11:40.960]  these retirement funds where people are putting money into the retirement fund for 20 or 30
[11:40.960 --> 11:45.240]  years, and then after that 20 or 30 years, they begin to collect back.
[11:45.240 --> 11:51.440]  Well, the retirement fund needs a place to invest that long-term income.
[11:51.440 --> 11:54.240]  It appeared to be a perfect match.
[11:54.240 --> 11:57.840]  Well, appearances can be deceiving.
[11:57.840 --> 12:03.600]  You've got a long-term investor, you've got a long-term debt, you match them together.
[12:03.600 --> 12:13.080]  The problem was, with real property, unlike other types of investments, a change in the
[12:13.080 --> 12:20.440]  beneficial interest of real property gives a claim against the property.
[12:20.440 --> 12:27.840]  There is a claim against the property, and somebody changes who holds that claim or who
[12:27.840 --> 12:30.960]  holds portions of the claim.
[12:30.960 --> 12:35.800]  According to the state laws, your claim is required to be registered and filed in the
[12:35.800 --> 12:39.320]  record, or you can't express it.
[12:39.320 --> 12:41.600]  It's void to the holder if you don't have it filed.
[12:41.600 --> 12:48.840]  Well, the problem was that they took 10, 20,000 separate residential mortgages, and they bundled
[12:48.840 --> 12:53.120]  them into a large pass-through trust.
[12:53.120 --> 12:59.920]  And then they took this pass-through trust as a single investment entity, and they wouldn't
[12:59.920 --> 13:07.080]  sell the investment trusts a certain number of these notes.
[13:07.080 --> 13:18.360]  They just took a slice, a tranche, and sliced off 5%, 10% of the whole thing, and sell that
[13:18.360 --> 13:19.840]  to the investor.
[13:19.840 --> 13:23.480]  Problem, court to them.
[13:23.480 --> 13:30.040]  Under the property laws, you're required to make a filing in each one of those residential
[13:30.040 --> 13:40.040]  mortgages in the public record, and 25, 50 bucks a pop, it was prohibitive.
[13:40.040 --> 13:42.680]  The whole program would break down.
[13:42.680 --> 13:50.760]  So in 1995, they put together the mortgage electronic registration systems so they could
[13:50.760 --> 13:57.920]  hold up MERS as a straw man holder.
[13:57.920 --> 14:03.640]  MERS would stand in the front and say, I am the nominee for the lender.
[14:03.640 --> 14:08.800]  Now they didn't say I'm an agent for the lender, because if they said that I'm an agent for
[14:08.800 --> 14:15.280]  the lender, then they are not the ones holding the beneficial interest.
[14:15.280 --> 14:17.680]  They said I'm a nominee for the lender.
[14:17.680 --> 14:25.720]  There's nowhere you can find a definition of nominee that fits what MERS purports to
[14:25.720 --> 14:28.120]  do.
[14:28.120 --> 14:38.280]  So they used MERS to stand in front as a straw man holder, and then the trust would sell
[14:38.280 --> 14:44.480]  off pieces of the overall trust to different lenders.
[14:44.480 --> 14:49.440]  They would move parts of the trust from one trust to another, where they have one trust
[14:49.440 --> 14:55.600]  that's not performing, another trust that's overperforming, they'll transfer percentages
[14:55.600 --> 15:01.480]  back and forth to adjust their income stream to keep their tax burden down.
[15:01.480 --> 15:06.080]  Sometimes they'll make one or two changes a week.
[15:06.080 --> 15:10.640]  According to the property code, you have to file every one of those.
[15:10.640 --> 15:14.400]  The cost of that would be absolutely prohibitive.
[15:14.400 --> 15:18.760]  So they got MERS so they could do all this trading behind MERS and let MERS stand there
[15:18.760 --> 15:24.480]  in the front as the straw man holder, and that's what this suit goes to.
[15:24.480 --> 15:29.320]  They're saying MERS cannot be a mortgagee.
[15:29.320 --> 15:38.320]  MERS is in fact an agent, and the agent can't claim to be the holder.
[15:38.320 --> 15:43.400]  He can't stand up in front of you and say I'm the guy to look to for a claim against
[15:43.400 --> 15:48.200]  the property when there's really a bunch of people behind him who actually hold that beneficial
[15:48.200 --> 15:53.800]  interest, and that's precisely what this suit goes to.
[15:53.800 --> 16:03.880]  They're saying that every one of these documents filed by MERS were MERSes listed as the mortgagee
[16:03.880 --> 16:09.560]  because the only one who could make a change, who could file something in the record affecting
[16:09.560 --> 16:18.320]  title, is someone who had an authority by the record to make that change, and MERS couldn't
[16:18.320 --> 16:23.100]  do that because they didn't have any beneficial interest.
[16:23.100 --> 16:26.600]  So they had to pretend to have beneficial interest while the real guys were back there
[16:26.600 --> 16:29.200]  doing their trading back and forth.
[16:29.200 --> 16:30.200]  We've been claiming that for years.
[16:30.200 --> 16:33.200]  I think I just ran out of time.
[16:33.200 --> 16:38.840]  We've been claiming that for years, and the banks of course haven't listened, but now
[16:38.840 --> 16:49.000]  we have local clerks picking up the gauntlet, and this whole house of cards is beginning
[16:49.000 --> 16:51.320]  to crumble for the banks.
[16:51.320 --> 16:53.880]  This is Randy Kelton, Rule of Law Radio.
[16:53.880 --> 16:57.880]  I'll call in number 512-646-1984.
[16:57.880 --> 16:59.880]  We'll be right back.
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[17:59.360 --> 18:05.200]  Are you being harassed by debt collectors with phone calls, letters, or even lawsuits?
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[18:50.000 --> 18:58.800]  That's RuleOfLawRadio.com or email M-I-C-H-A-E-L-M-I-R-R-A-S at yahoo.com to learn how to stop
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[18:59.800 --> 19:29.720]  You are listening to the Logos Radio Network, LogosRadioNetwork.com.
[19:29.720 --> 19:48.040]  Okay, we are back, Randy Charlton, Rule of Law Radio.
[19:48.040 --> 19:53.840]  Our calling lines are open, so if you have a question or a comment, give us a call.
[19:53.840 --> 19:58.720]  We'll keep the lines open all night, but until we start getting some callers, I'm going to
[19:58.720 --> 20:03.960]  talk about this suit against Mears.
[20:03.960 --> 20:08.880]  This is a remarkable suit, and I think part of what's so remarkable is that it took so
[20:08.880 --> 20:12.440]  long for it to happen.
[20:12.440 --> 20:21.520]  Public officials are extremely conservative, and they're very reluctant to take a really
[20:21.520 --> 20:23.360]  strong position.
[20:23.360 --> 20:32.120]  Here you have a couple of county employees taking on one of the largest banking conglomerates
[20:32.120 --> 20:33.680]  on the planet.
[20:33.680 --> 20:39.160]  Mears is really a part of the six largest banks in the world.
[20:39.160 --> 20:45.120]  These guys are confident enough at this point that they believe they can effectively take
[20:45.120 --> 20:53.280]  them on, and not just say, well, you owe us money you didn't file, but what they're saying
[20:53.280 --> 21:01.320]  is every single thing you have done has been a very conscious and deliberate conspiracy
[21:01.320 --> 21:05.040]  to circumvent the laws of the state.
[21:05.040 --> 21:14.480]  If we get any kind of ruling from this, this particular suit will begin to cause the whole
[21:14.480 --> 21:17.400]  Mears structure to really begin to crumble.
[21:17.400 --> 21:24.520]  It's all really crumbling, and they've been eating away at it for several years, but it
[21:24.520 --> 21:28.720]  seems now that the pace is beginning to pick up.
[21:28.720 --> 21:37.440]  They start out by talking about the Financial Crisis Inquiry Commission.
[21:37.440 --> 21:44.760]  On January 27, 2011, the Financial Crisis Inquiry Commission issued its final report
[21:44.760 --> 21:50.320]  on the causes of the financial collapse of 2008, according to the FCIC.
[21:50.320 --> 21:56.320]  The profound events of 2007 and 2008 were neither bumps in the road nor an accidental
[21:56.320 --> 22:01.560]  dip in the financial business cycles we have come to expect in the free market economic
[22:01.560 --> 22:03.240]  system.
[22:03.240 --> 22:11.760]  This was a fundamental disruption and financial upheaval, if you will, that wreaked havoc
[22:11.760 --> 22:15.000]  in communities and neighborhoods across the country.
[22:15.000 --> 22:19.760]  As this report goes to print, there are more than 26 million Americans who are out of work
[22:19.760 --> 22:23.800]  and cannot find full-time work or have given up looking for work.
[22:23.800 --> 22:28.760]  About 4 million families have lost their homes to foreclosure, and another 4.5 billion have
[22:28.760 --> 22:33.840]  slipped into the foreclosure process or are seriously behind on their mortgage payments.
[22:33.840 --> 22:40.280]  Nearly 11 trillion in household wealth has vanished with the retirement accounts and
[22:40.280 --> 22:43.440]  life savings swept away.
[22:43.440 --> 22:49.520]  Businesses large and small have felt the sting of deep recessions, and they go on to blame
[22:49.520 --> 23:02.120]  this directly on the banking system, the residential securitization market, and MERS specifically.
[23:02.120 --> 23:06.840]  And they say here, we conclude this final crisis was avoidable.
[23:06.840 --> 23:12.160]  The crisis was the result of human action and inaction, not Mother Nature or computer
[23:12.160 --> 23:14.680]  models gone haywire.
[23:14.680 --> 23:20.840]  The captains of finance and public stewards of our financial systems ignored warnings,
[23:20.840 --> 23:25.920]  failed to question, understand, and manage evolving risks within a system essential to
[23:25.920 --> 23:28.920]  the well-being of the American public.
[23:28.920 --> 23:32.520]  Theirs was a big mess, not a stumble.
[23:32.520 --> 23:39.040]  While the business cycle cannot be repealed, the crisis of this magnitude need not have
[23:39.040 --> 23:40.600]  occurred.
[23:40.600 --> 23:48.000]  To paraphrase Shakespeare, the fault lies not in the stars, but in us.
[23:48.000 --> 23:55.840]  As they move on down, they talk about the MERS system and how they put this system together
[23:55.840 --> 24:03.840]  to allow this securitization process to occur.
[24:03.840 --> 24:12.760]  And because of that, they have essentially wrecked the public recording system in the
[24:12.760 --> 24:13.760]  United States.
[24:13.760 --> 24:21.000]  And the nice thing about reading this case is they draw from sources all over the United
[24:21.000 --> 24:22.000]  States.
[24:22.000 --> 24:30.880]  While they're filing the case in South Carolina, they repeatedly refer to this as a nationwide
[24:30.880 --> 24:41.600]  action, and that will cause this case if they can get a positive adjudication to have nationwide
[24:41.600 --> 24:42.600]  impact.
[24:42.600 --> 24:49.800]  Just so it makes sense a little bit, I'm going to go into their argument on the recording
[24:49.800 --> 24:50.800]  system.
[24:50.800 --> 24:55.840]  The origins and reasons for public recordation of mortgage interest in the United States
[24:55.840 --> 25:02.040]  date back to at least the middle of the 17th century, according to one commentator.
[25:02.040 --> 25:06.560]  One of the most striking features of Anglo-American law is the requirement to file notice and
[25:06.560 --> 25:14.160]  public files of a non-possessory, secured transaction in order to enforce the transaction
[25:14.160 --> 25:17.480]  in the court against third parties.
[25:17.480 --> 25:23.520]  The transaction of interest-first development during the early 17th century, I'm sorry,
[25:23.520 --> 25:29.200]  the transaction of interest-first developed during the 17th century, English mortgage
[25:29.200 --> 25:31.880]  law developed for real estate.
[25:31.880 --> 25:36.360]  Originally the parties structured mortgages and the secured mortgage in the possession
[25:36.360 --> 25:40.120]  of the land collateral, not the debtor mortgage.
[25:40.120 --> 25:44.480]  But the early 17th century, the English had developed a technique of leaving the debtor
[25:44.480 --> 25:48.280]  mortgage in possession of the land to work off the loan.
[25:48.280 --> 25:50.720]  Not all legal systems have the filing requirements.
[25:50.720 --> 25:56.560]  Roman law recognizes the transaction but did not require filing.
[25:56.560 --> 26:00.880]  The Neapolitan code banned the transaction.
[26:00.880 --> 26:07.080]  The modern explanation of these different legal rules involves the secret lien.
[26:07.080 --> 26:14.320]  When debtors retain possession of the personality serving as collateral under the non-possessory
[26:14.320 --> 26:19.200]  secure transaction, subsequent lenders and purchasers have no way of discovering the
[26:19.200 --> 26:25.840]  prior ownership interest of the earlier secured creditors unless the debtor honestly forces
[26:25.840 --> 26:27.880]  disclosure.
[26:27.880 --> 26:32.080]  Without the disclosure, the debtor could borrow excessively, offering the same collateral
[26:32.080 --> 26:38.800]  as security several times, possibly leaving some of the debtor's creditors without collateral
[26:38.800 --> 26:43.440]  sufficient to cover their loan upon the debtor's financial demise.
[26:43.440 --> 26:55.200]  Anyone who has looked at how this lending debacle has played out will recognize this
[26:55.200 --> 26:58.680]  precise problem.
[26:58.680 --> 27:04.720]  China accused Bank of America of selling them the same note 30 times.
[27:04.720 --> 27:17.760]  This whole securitization process, the derivatives failure, those derivatives were unsecured
[27:17.760 --> 27:26.160]  insurance policies where the lender would sell the note into a pool, write private mortgage
[27:26.160 --> 27:33.120]  insurance on the note and then take that same note, change the interest rate and file it
[27:33.120 --> 27:34.880]  in another pool.
[27:34.880 --> 27:43.440]  When they sell it in the pool, they get 105 percent, my bad, 103 percent of the original
[27:43.440 --> 27:47.280]  principal, that was kind of the standard rate.
[27:47.280 --> 27:51.120]  So they'd sell it a number of times and each time they resold it, they would purchase a
[27:51.120 --> 27:57.200]  derivative insurance policy and these policies with AIG and Lehman Brothers were totally
[27:57.200 --> 28:00.320]  unregulated and they were secret.
[28:00.320 --> 28:03.440]  So you couldn't find them.
[28:03.440 --> 28:10.720]  So when we tell people that the lenders went out and produced these predatory loans, they
[28:10.720 --> 28:17.680]  did not care if you could pay the loan back and when you say that, that sounds unintuitive.
[28:17.680 --> 28:22.960]  Why on earth would they give you $200,000 purchase property and not want you to pay
[28:22.960 --> 28:25.080]  it back?
[28:25.080 --> 28:32.080]  Well, it's because they were going to defraud the insurance companies.
[28:32.080 --> 28:37.600]  They would sell this thing into a number of pools and once you had paid the note down
[28:37.600 --> 28:44.960]  15 percent in 12 years, then they want you to default because every time you pay a payment,
[28:44.960 --> 28:51.280]  they have to dip into this pool of money they stole and match a payment, otherwise fraud
[28:51.280 --> 28:54.140]  would be apparent.
[28:54.140 --> 28:58.960]  In order for them to stop having to dip into their pool, they need you to default.
[28:58.960 --> 29:07.480]  Once you default, not only your primary insurance pays off but all these others that they secured
[29:07.480 --> 29:15.880]  in secret for all of these multiple funded notes that they created based on your original
[29:15.880 --> 29:16.880]  signature.
[29:16.880 --> 29:23.640]  If they can't get you to default, they got to pay all this money back with interest.
[29:23.640 --> 29:32.800]  So because they could create these claims and liens and not file them in the public
[29:32.800 --> 29:39.480]  record, because they're standing behind Merge, they were able to create all these multiple
[29:39.480 --> 29:46.120]  sales of your note and create this huge pool of money and in the process, they defrauded
[29:46.120 --> 29:47.120]  everybody.
[29:47.120 --> 29:52.760]  We'll come back on the other side and we'll talk about how everybody's been defrauded
[29:52.760 --> 29:53.760]  except the thieves.
[29:53.760 --> 29:58.760]  Randy Kelton, Rule of Our Radio, I'll call it number 512-646-9284.
[29:58.760 --> 30:05.680]  Is your social security number and other personal information at risk?
[30:05.680 --> 30:08.520]  If it's stored in a database, the answer is yes.
[30:08.520 --> 30:12.640]  I'm Dr. Catherine Albrecht and I'll be back to tell you how to protect yourself from becoming
[30:12.640 --> 30:16.400]  a victim of a database breach in just a moment.
[30:16.400 --> 30:18.000]  Privacy is under attack.
[30:18.000 --> 30:22.400]  When you give up data about yourself, you'll never get it back again and once your privacy
[30:22.400 --> 30:26.360]  is gone, you'll find your freedoms will start to vanish too.
[30:26.360 --> 30:31.360]  So protect your rights, say no to surveillance and keep your information to yourself.
[30:31.360 --> 30:34.120]  Privacy, it's worth hanging on to.
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[30:53.120 --> 30:56.240]  Here are some steps you can take to protect yourself.
[30:56.240 --> 31:00.840]  Watch your credit cards and bank statements carefully for any unusual charges.
[31:00.840 --> 31:03.500]  Report any unauthorized account activity quickly.
[31:03.500 --> 31:06.200]  Not only does this limit abuse, it limits your liability.
[31:06.200 --> 31:11.680]  If you suspect foul play, notify one of the three main credit bureaus, Experian, Equifax
[31:11.680 --> 31:14.720]  or TransUnion and request a fraud alert.
[31:14.720 --> 31:17.300]  And finally, monitor your credit reports.
[31:17.300 --> 31:21.680]  You get a free report when you request a fraud alert and many states require the credit bureaus
[31:21.680 --> 31:24.800]  to give you a free report annually when you request it.
[31:24.800 --> 31:26.680]  I'm Dr. Catherine Albrecht.
[31:26.680 --> 31:29.120]  More news and information at CatherineAlbrecht.com.
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[32:12.680 --> 32:16.160]  Among those rights are the right to travel freely from place to place, the right to act
[32:16.160 --> 32:19.880]  in our own private capacity and most importantly, the right to due process of law.
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[33:09.280 --> 33:38.360]  Okay, we are back, Randy Kelton, Rule of Law Radio and we have a caller but I'm going to
[33:38.360 --> 33:43.840]  finish it up on part of this, I could probably do the whole show on this document.
[33:43.840 --> 33:49.880]  It is so well done and it goes into such detail how this problem really occurs.
[33:49.880 --> 34:00.360]  Let me read this section over that I was reading when I went to my example that, when debtors
[34:00.360 --> 34:05.600]  retain possession of the personality serving as collateral under the non-possessor secure
[34:05.600 --> 34:10.600]  transaction, subsequent lenders and purchasers have no way of discovering the prior ownership
[34:10.600 --> 34:18.960]  interest of the earlier secured creditors unless the debtors honestly force it for disclosure.
[34:18.960 --> 34:23.400]  Without that disclosure, the debtor could borrow excessively, offering the same collateral
[34:23.400 --> 34:29.120]  as security several times, possibly leaving some of the debtors creditors without collateral
[34:29.120 --> 34:33.200]  sufficient to cover their loan upon the debtor's final demise.
[34:33.200 --> 34:39.240]  American law solved the problem by providing a fraud remedy against the debtor.
[34:39.240 --> 34:43.200]  The Napoleonic Code solved the problem by banning the transactions.
[34:43.200 --> 34:49.200]  Anglo-American law solved the problem by requiring a filing.
[34:49.200 --> 34:53.600]  Potential subsequent lenders and purchasers could then become aware of the debtor's prior
[34:53.600 --> 35:01.360]  obligation by examining the public files and protect themselves by taking action that they
[35:01.360 --> 35:07.120]  deemed appropriate, either not lending or charging higher interest.
[35:07.120 --> 35:12.880]  Mortgage recordation in South Carolina is governed by Title 30 of the South Carolina
[35:12.880 --> 35:13.880]  Code of Law.
[35:13.880 --> 35:21.560]  Section 30-7-10 provides in part, all mortgages or instruments in writing in the nature of
[35:21.560 --> 35:29.840]  mortgage or any real property are valid as to affect the rights of the subsequent creditors
[35:29.840 --> 35:36.880]  or purchasers for valuable consideration without notice only from the day and hour when they
[35:36.880 --> 35:43.560]  are recorded in the Office of the Registrar of Deeds or Clerk of Court of the County in
[35:43.560 --> 35:48.600]  which the real property affected is situated.
[35:48.600 --> 35:55.480]  Every state who has a recorder has this requirement.
[35:55.480 --> 36:03.000]  And everything about MERS was designed to get around this requirement and to go back
[36:03.000 --> 36:15.560]  to the situation where the banks could sell these notes or factor the notes over and over
[36:15.560 --> 36:16.560]  and over and over.
[36:16.560 --> 36:21.240]  They didn't actually sell the notes and that's what made it so that they could do this.
[36:21.240 --> 36:22.960]  They only sold the right to an income stream.
[36:22.960 --> 36:28.160]  So the only thing the trusts actually got was the income stream.
[36:28.160 --> 36:36.040]  They didn't get the note and the document custodian got and held the note.
[36:36.040 --> 36:45.200]  So they created a really sophisticated structure to perpetrate the largest fraud in the history
[36:45.200 --> 36:46.200]  of mankind.
[36:46.200 --> 36:51.920]  I'm going to hold up on this for the moment and we'll come back to it if we don't get
[36:51.920 --> 36:52.920]  too many callers.
[36:52.920 --> 36:55.160]  But I'm going to go to John in Texas.
[36:55.160 --> 36:57.200]  We were having a good conversation yesterday.
[36:57.200 --> 36:58.200]  Hello, John.
[36:58.200 --> 36:59.200]  How are you?
[36:59.200 --> 37:00.200]  I'm good.
[37:00.200 --> 37:05.200]  Say, I want to ask you something.
[37:05.200 --> 37:13.080]  On my phone, I've got a speaker and the girl told me that you'd rather not, you know, use
[37:13.080 --> 37:14.080]  a speaker.
[37:14.080 --> 37:15.080]  Right.
[37:15.080 --> 37:22.280]  If you use the hands-free, it sounds like you've got your head in the toilet.
[37:22.280 --> 37:23.280]  Okay.
[37:23.280 --> 37:25.280]  Is that better?
[37:25.280 --> 37:26.280]  Yeah.
[37:26.280 --> 37:29.280]  It sounds pretty good.
[37:29.280 --> 37:32.280]  Okay.
[37:32.280 --> 37:36.280]  It works better if you can get a headset.
[37:36.280 --> 37:37.280]  Yeah.
[37:37.280 --> 37:38.280]  I know.
[37:38.280 --> 37:42.960]  When you're talking just back and forth on the computer to somebody, you don't have the
[37:42.960 --> 37:47.800]  kind of problems we have here with the radio production.
[37:47.800 --> 37:50.560]  Deborah's equipment is very sophisticated.
[37:50.560 --> 37:55.960]  A lot of times when I come on, we'll do a mic check and she can hear the things in the
[37:55.960 --> 38:02.600]  background and I take off my headset and I cannot hear anything, but the mic picks it
[38:02.600 --> 38:04.360]  up and she can hear it.
[38:04.360 --> 38:11.800]  So the sound that she's putting out on the radio is much more sensitive and changes in
[38:11.800 --> 38:18.440]  your position relative to your microphone and the speaker's relative to the microphone.
[38:18.440 --> 38:25.560]  We have to use headsets where the headset seals around the ear and that's so that the
[38:25.560 --> 38:31.440]  sound doesn't come out of the headset and leak back into the microphone.
[38:31.440 --> 38:34.440]  That gets real ugly.
[38:34.440 --> 38:38.240]  Anyway, where were we yesterday, John?
[38:38.240 --> 38:43.760]  Well, I'd say I probably need to kind of do a kind of summary, start all over for those
[38:43.760 --> 38:46.960]  people that don't know and keep track of...
[38:46.960 --> 38:47.960]  Yes.
[38:47.960 --> 38:48.960]  Good.
[38:48.960 --> 38:52.080]  Bring us, kind of give us a synopsis and bring us up to speed.
[38:52.080 --> 38:53.080]  Okay.
[38:53.080 --> 38:54.080]  I fought bankruptcy.
[38:54.080 --> 39:00.560]  I had some people, the reason I fought bankruptcy, I had a bunch of money that was stolen out
[39:00.560 --> 39:06.040]  of a bank and I didn't see that coming.
[39:06.040 --> 39:17.120]  Anyway, I got behind on my mortgage and in January of 2014, they gave me a notice that's
[39:17.120 --> 39:24.400]  going to foreclose on May, February the 4th, 2014.
[39:24.400 --> 39:32.080]  So I had some people that are coming by looking at my house that really kind of offended me
[39:32.080 --> 39:40.840]  and some of those people, the note was for $82,900.
[39:40.840 --> 39:49.280]  Bank of America and the trustee lowered the price to $32,500.
[39:49.280 --> 39:54.640]  That's about savings from the appraised price of $61,500.
[39:54.640 --> 39:56.360]  The appraised price was $94,000.
[39:56.360 --> 40:02.320]  So anyway, I had people say, well, I'm going to buy that house.
[40:02.320 --> 40:09.560]  Well, on the 31st of January, I filed bankruptcy to stop it.
[40:09.560 --> 40:18.160]  So I got all my papers filed and I put in the bankruptcy, it was a 13.
[40:18.160 --> 40:24.880]  And when I filed that 13, I knew I was going to convert it to a 7 about a month later and
[40:24.880 --> 40:26.840]  that's what I did.
[40:26.840 --> 40:34.980]  Now I put the exemptions on there, I believe it was exempt A for that house.
[40:34.980 --> 40:38.760]  And then there's another part, I think it was F, I'm trying to recall, I believe it
[40:38.760 --> 40:43.160]  was F in bankruptcy, there's no lien on it.
[40:43.160 --> 40:48.440]  And I actually put in $51,388.
[40:48.440 --> 40:55.320]  So if you put in $51,388 and they're asking $32,000, I would think, well, that's paid
[40:55.320 --> 40:56.320]  in full.
[40:56.320 --> 41:02.760]  But I also put in, the money came from me, it was out of my, I wouldn't call it Social
[41:02.760 --> 41:07.480]  Security, it's called a federal reserve money.
[41:07.480 --> 41:08.480]  Everybody's got it.
[41:08.480 --> 41:12.560]  When they were born, they were born with about a million dollars.
[41:12.560 --> 41:21.520]  Well, actually, I think it's about 3.5 million plus another 348, it's about 5 million that
[41:21.520 --> 41:22.520]  everybody's got.
[41:22.520 --> 41:25.720]  Everybody in the world, I'm going to wait a minute, let me back up.
[41:25.720 --> 41:27.720]  Everybody in the United States got that.
[41:27.720 --> 41:35.960]  Well, anyway, what to do is I signed a note, a promissory note.
[41:35.960 --> 41:44.440]  I bought it, this house, February the 18th, 2005.
[41:44.440 --> 41:49.800]  And I closed on that believing there's a promissory note.
[41:49.800 --> 41:59.160]  Well, as time moved on, it was actually in default at the time.
[41:59.160 --> 42:04.520]  Now that I skipped some parts, I'm just thinking about my car being for the horse here.
[42:04.520 --> 42:17.840]  So anyway, in my bankruptcy, it was released, discharged the 23rd of July, 2014, and nobody
[42:17.840 --> 42:18.840]  objected.
[42:18.840 --> 42:25.360]  Well, Bank of America and Recon Trust, they did not object.
[42:25.360 --> 42:31.120]  I had four other people object, but didn't have anything with the house.
[42:31.120 --> 42:35.840]  So about, I believe, it was the 12th of August.
[42:35.840 --> 42:36.840]  Okay.
[42:36.840 --> 42:37.840]  Okay.
[42:37.840 --> 42:41.240]  Wait, let me back up a second.
[42:41.240 --> 42:48.800]  Was there a deed of trust filed in the public record by Bank of America or someone?
[42:48.800 --> 42:50.680]  Yes.
[42:50.680 --> 42:57.160]  Did that entity get notice at the, did you give them notice at the time of the bankruptcy
[42:57.160 --> 43:01.360]  that your property would be included in the bankruptcy?
[43:01.360 --> 43:02.360]  Yes.
[43:02.360 --> 43:03.360]  Good.
[43:03.360 --> 43:04.360]  Good.
[43:04.360 --> 43:09.440]  Now, I need to explain this to you.
[43:09.440 --> 43:17.920]  The lender, which never existed, was America's wholesale lender, existed, organized by New
[43:17.920 --> 43:19.920]  York laws.
[43:19.920 --> 43:22.920]  It never existed, ever.
[43:22.920 --> 43:26.680]  Yes, we're aware of that.
[43:26.680 --> 43:30.320]  There was a DBA for- Now.
[43:30.320 --> 43:34.400]  It was supposed to be a DBA for who?
[43:34.400 --> 43:35.400]  Countrywide.
[43:35.400 --> 43:44.280]  Okay, countrywide, but it never actually was filed in the record as a corporation.
[43:44.280 --> 43:49.680]  Hang on, we're about to go to break, Randy Kelton, Rue of La Radio, our call in number
[43:49.680 --> 43:50.680]  512-646-1984.
[43:50.680 --> 43:54.080]  We have phones to open all night.
[43:54.080 --> 43:58.040]  We'll be right back.
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[44:43.240 --> 45:01.320]  Don't forget to like us on Facebook for information on events and our products, naturespureorganics.com.
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[46:15.080 --> 46:34.280]  Okay.
[46:34.280 --> 46:35.280]  We are back.
[46:35.280 --> 46:40.760]  Randy Kelton, Rule of Law Radio, and we're talking to John in Texas about how American
[46:40.760 --> 46:45.280]  wholesale lenders may never exist.
[46:45.280 --> 46:46.280]  Yeah.
[46:46.280 --> 46:58.480]  Now, there's a DBA that was filed in the state of Texas, but my documentation says existed,
[46:58.480 --> 47:02.080]  organized as a New York corporation.
[47:02.080 --> 47:09.640]  I have a certified copy of that, and there's a suit, I think you heard about it, in Florida,
[47:09.640 --> 47:16.680]  and I think that may be on appeal, but in that case, Bank of America said, yeah, it
[47:16.680 --> 47:21.120]  never existed, we're going to give your house back, give all your money back, I think about
[47:21.120 --> 47:24.720]  $59,000, and my understanding, it's on appeal.
[47:24.720 --> 47:27.760]  That's hearsay that it's on appeal.
[47:27.760 --> 47:34.440]  So anyway, oh, I left one part out.
[47:34.440 --> 47:42.160]  Prairiewide registered that name with the United States Patent and Trademark Office,
[47:42.160 --> 47:47.920]  and they signed probably eight or nine or 10 affidavits.
[47:47.920 --> 47:53.080]  This name is only for advertising purposes, period.
[47:53.080 --> 47:56.360]  No other thing, only advertising.
[47:56.360 --> 48:03.920]  They cannot use that name in the data records or outside of that.
[48:03.920 --> 48:06.960]  It's only for advertising only.
[48:06.960 --> 48:14.040]  And they had about seven other entities of the eight that registered names with the Patent
[48:14.040 --> 48:19.640]  and Trademark Office, and I've seen that name on the other advertisements, like America's
[48:19.640 --> 48:25.800]  number one wholesale lender, change that up a little bit, but it's for advertising.
[48:25.800 --> 48:30.120]  Okay, this is my opinion.
[48:30.120 --> 48:35.760]  A lot of the title companies were complaining, we don't want to do a DBA, you know, that's
[48:35.760 --> 48:38.800]  just a fictitious name.
[48:38.800 --> 48:44.840]  So what counter-idea is that we're going to go ahead and make this old deal.
[48:44.840 --> 48:48.800]  We're going to say it's America's Wholesale Lenders, a New York corporation, they won't
[48:48.800 --> 48:49.800]  know.
[48:49.800 --> 48:54.280]  So title companies said, okay, okay, that'll work, and they started writing title policies
[48:54.280 --> 48:59.280]  on America's Wholesale Lender as a New York corporation.
[48:59.280 --> 49:08.840]  And that's how they wrote three and a half million to 44 million loans on America's Wholesale
[49:08.840 --> 49:09.840]  Lender.
[49:09.840 --> 49:25.400]  And there's two figures I get, $760 billion to $800 and something billion dollars in loans.
[49:25.400 --> 49:29.880]  My opinion, they're all board.
[49:29.880 --> 49:37.040]  To a company that doesn't exist, so a non-existent company can't come in and express a claim.
[49:37.040 --> 49:39.640]  That's essentially what the Florida case said.
[49:39.640 --> 49:40.640]  Right.
[49:40.640 --> 49:46.720]  And it goes on, if you think about it, in MERS, America's Wholesale Lender that was
[49:46.720 --> 49:55.160]  transferred or signed, how can they have anybody on their board prior return to say, yeah,
[49:55.160 --> 49:57.680]  we'll go ahead and sign this here, doesn't exist?
[49:57.680 --> 50:01.680]  That's going to be really fun, something in court.
[50:01.680 --> 50:11.360]  So anyway, my bankruptcy was released the 23rd of July of last year.
[50:11.360 --> 50:19.440]  On the 12th of August, an attorney firm, and I'm going to call this attorney firm, a pronoun
[50:19.440 --> 50:20.440]  attorney firm.
[50:20.440 --> 50:25.440]  I'm really afraid to mention their name.
[50:25.440 --> 50:26.440]  Why?
[50:26.440 --> 50:27.440]  I don't know.
[50:27.440 --> 50:28.440]  They might be listening.
[50:28.440 --> 50:32.200]  I got a court case going on with my bankruptcy.
[50:32.200 --> 50:36.560]  Are you trying to not give them a heads up?
[50:36.560 --> 50:37.560]  That's correct.
[50:37.560 --> 50:38.560]  Oh, okay.
[50:38.560 --> 50:46.360]  They say, I got the car before a horse again, my bankruptcy was released the 23rd, I told
[50:46.360 --> 50:51.400]  you, so they were going to turn around and foreclose on me, this attorney firm.
[50:51.400 --> 50:59.240]  So I reopened this bankruptcy on the 25th of November.
[50:59.240 --> 51:07.360]  It was scheduled to be foreclosed on the 2nd of December, 2014.
[51:07.360 --> 51:13.840]  And I put in there, you always want to put this automatic stay when you reopen.
[51:13.840 --> 51:23.080]  Well, the judge didn't sign it until the 16th, but the judge told me, I cannot reinstate
[51:23.080 --> 51:25.480]  the stay.
[51:25.480 --> 51:32.200]  But what I did do on the 2nd, the same day, December, I called the bankruptcy girl.
[51:32.200 --> 51:39.880]  She said, I will rescind the foreclosure if they will go ahead and foreclose it.
[51:39.880 --> 51:44.480]  She said, you need to go down there and take a paper or whatever to that trustee and tell
[51:44.480 --> 51:45.480]  him.
[51:45.480 --> 51:46.480]  I said, I'm on my way.
[51:46.480 --> 51:49.160]  But she said she had rescinded it if it was foreclosed.
[51:49.160 --> 51:58.400]  Well, I said, give a document to the trustee, his name is Terry, so I gave him, okay, I
[51:58.400 --> 51:59.400]  will pull it.
[51:59.400 --> 52:02.840]  So when he said pull it, that means he's not going to sell it.
[52:02.840 --> 52:08.200]  Well, the next day, this little real estate lady called me on the 3rd, she said, when
[52:08.200 --> 52:10.200]  can you get out?
[52:10.200 --> 52:13.480]  Well, that was a shock.
[52:13.480 --> 52:16.640]  He went ahead and sold it.
[52:16.640 --> 52:21.000]  I got a letter from Bank of America that said, get out.
[52:21.000 --> 52:23.720]  I didn't want to do that.
[52:23.720 --> 52:24.720]  I'm still here.
[52:24.720 --> 52:25.720]  Okay, hold on.
[52:25.720 --> 52:26.720]  Your...
[52:26.720 --> 52:27.720]  What?
[52:27.720 --> 52:35.760]  The mortgage was discharged or the debt was discharged in the bankruptcy?
[52:35.760 --> 52:36.760]  Yes.
[52:36.760 --> 52:42.480]  Are you familiar with 11 U.S. Code 524?
[52:42.480 --> 52:48.640]  Yeah, it refreshed my memory.
[52:48.640 --> 52:51.160]  Effective discharge.
[52:51.160 --> 53:01.280]  A discharge in case under this title voids any judgment or at any time attained to the
[53:01.280 --> 53:07.400]  extent that such judgment is a determination of the personal liability of the debtor with
[53:07.400 --> 53:17.000]  respect to any debt discharged under Section 727, 944, 1141, 1228 or 1328.
[53:17.000 --> 53:24.240]  They are absolutely forbidden by federal law to attempt any collection after discharge.
[53:24.240 --> 53:31.640]  Well, that's what I thought.
[53:31.640 --> 53:34.120]  Okay, here's the deal.
[53:34.120 --> 53:41.800]  You had a lawyer file a document with the court.
[53:41.800 --> 53:48.280]  Now, what we tend to do is say the bank did this or the bank did that.
[53:48.280 --> 53:52.400]  Well, you don't know what the bank did.
[53:52.400 --> 53:57.160]  All you know is this lawyer put his name on this document and he filed it and he made
[53:57.160 --> 53:59.800]  some statements.
[53:59.800 --> 54:04.760]  So you don't know if the bank actually had anything to do with it.
[54:04.760 --> 54:06.640]  All you know is this lawyer signed it.
[54:06.640 --> 54:10.460]  So the law says you can't do this.
[54:10.460 --> 54:16.320]  So if the lawyer sends you something and tells you he's going to do something that the law
[54:16.320 --> 54:20.760]  says he can't do, do you know what that's called?
[54:20.760 --> 54:21.760]  Yes.
[54:21.760 --> 54:22.760]  Yeah.
[54:22.760 --> 54:23.760]  Overshadowing.
[54:23.760 --> 54:31.480]  And you don't sue the bank because you don't know if the bank did anything, you sue the
[54:31.480 --> 54:32.480]  lawyer.
[54:32.480 --> 54:39.040]  Well, as this conversation goes on, I think I got the deal covered.
[54:39.040 --> 54:42.040]  Okay, go ahead.
[54:42.040 --> 54:50.280]  Anyway, this loan, I thought, this was later, was to put in a remit.
[54:50.280 --> 54:57.160]  Now, a remit is the real estate mortgage investment conduit.
[54:57.160 --> 54:59.920]  It's not really put in a remit.
[54:59.920 --> 55:03.440]  It's put into a pass-through trust.
[55:03.440 --> 55:12.960]  And the trust is filed as a remit with the IRS and that's just a tax dodge by the trust.
[55:12.960 --> 55:16.680]  That's correct.
[55:16.680 --> 55:24.000]  But this, my loan was never put in the remit.
[55:24.000 --> 55:32.160]  They had a cutoff date of the 30th of, actually it was stretched a little bit, it was the
[55:32.160 --> 55:37.480]  30th of March of 2005, my loan was the 18th of March, but there was a little bit in there.
[55:37.480 --> 55:42.840]  I found a date, it's like the 16th of May or about a month or so later.
[55:42.840 --> 55:48.840]  But anyway, they never put it in there, ever.
[55:48.840 --> 55:58.320]  And when they don't put it in there, the IRS gets mad, real mad and they want to make examples
[55:58.320 --> 55:59.320]  out of people.
[55:59.320 --> 56:10.000]  One of those examples is my loan, my promissory note, which is not a promissory note anymore,
[56:10.000 --> 56:16.440]  it's an investment and that falls under Title 15 U.S.C.
[56:16.440 --> 56:23.320]  Section 7-8-C-10 because it's over nine months old.
[56:23.320 --> 56:29.600]  It's an investment security with the United States Securities Exchange Commission and
[56:29.600 --> 56:35.040]  also the Texas, I call it Securities, that's not a thing for Texas, but anyway it falls
[56:35.040 --> 56:36.040]  under them also.
[56:36.040 --> 56:40.360]  Well, they never filed it.
[56:40.360 --> 56:47.840]  So there's a penalty of that, my note was the 82-9, I keep on going back and forth,
[56:47.840 --> 56:51.080]  I said these are just called promissory notes.
[56:51.080 --> 56:58.520]  The note was $82,900 and there's a penalty on that.
[56:58.520 --> 57:07.760]  It is Title 26 U.S.C. Section 4975 A and B, but you want to look at C also.
[57:07.760 --> 57:14.520]  But anyway, long story short, the 82,900 is now $95,335.
[57:14.520 --> 57:22.560]  Now, there's two people that owe that money, by law, and that is the Bank of America and
[57:22.560 --> 57:27.440]  also the attorney firm, both of them, they owe that money.
[57:27.440 --> 57:34.360]  They've been paying out payments every month and the first payment was the 25th of April
[57:34.360 --> 57:39.160]  2005 and every month they've been paying those investors.
[57:39.160 --> 57:50.560]  Now, this is a rough draft, so far they've paid $56,787 and that's taxed at 100%.
[57:50.560 --> 57:58.200]  So all that money, the attorney firm and the Bank of America are going to pay that.
[57:58.200 --> 58:01.200]  This goes to IRS.
[58:01.200 --> 58:04.600]  Okay, that's a penalty paid to the IRS.
[58:04.600 --> 58:05.600]  Yes.
[58:05.600 --> 58:11.400]  Okay, generally penalty means you get paid and a fine or a fee the agency gets paid,
[58:11.400 --> 58:15.760]  but the agency assesses the penalty and the penalty is paid to the third party.
[58:15.760 --> 58:17.440]  Okay, that makes sense.
[58:17.440 --> 58:19.560]  Hang on, we're about to go to the top of the hour break.
[58:19.560 --> 58:26.480]  This is Randy Kelton, we have our radio, our call-in number, 512-646-1984.
[58:26.480 --> 58:30.720]  We'll keep our phone lines open all night, so if you have a question or a comment, give
[58:30.720 --> 58:31.720]  us a call.
[58:31.720 --> 58:38.320]  Tonight's our four-hour info marathon and we'll have plenty of time to get to everybody,
[58:38.320 --> 58:45.560]  so best to call in early because as time goes on, the calls begin to build up.
[58:45.560 --> 58:46.560]  So give us a call.
[58:46.560 --> 58:50.400]  We'll be right back.
[58:50.400 --> 58:54.520]  Would you like to make more definite progress in your walk with God?
[58:54.520 --> 58:59.680]  Bibles for America is offering a free study Bible and a set of free Christian books that
[58:59.680 --> 59:01.040]  can really help.
[59:01.040 --> 59:05.520]  The New Testament Recovery Version is one of the most comprehensive study Bibles available
[59:05.520 --> 59:06.520]  today.
[59:06.520 --> 59:10.400]  It's an accurate translation and it contains thousands of footnotes that will help you
[59:10.400 --> 59:13.520]  to know God and to know the meaning of life.
[59:13.520 --> 59:18.760]  The free books are a three-volume set called Basic Elements of the Christian Life.
[59:18.760 --> 59:23.040]  Chapter by chapter, Basic Elements of the Christian Life clearly presents God's plan
[59:23.040 --> 59:27.960]  of salvation, growing in Christ, and how to build up the church.
[59:27.960 --> 59:33.000]  To order your free New Testament Recovery Version and Basic Elements of the Christian
[59:33.000 --> 59:40.760]  Life, call Bibles for America toll-free at 888-551-0102.
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[59:48.800 --> 01:00:02.920]  Live, free speech radio, logosradionetwork.com.
[01:00:02.920 --> 01:00:07.800]  Following news flash is brought to you by the Lone Star Lowdown, providing your daily
[01:00:07.800 --> 01:00:14.560]  bulletins for the commodities market, today in history, news updates, and the inside scoop
[01:00:14.560 --> 01:00:23.080]  into the tides of the alternative.
[01:00:23.080 --> 01:00:30.800]  Markets for the 21st of May, 2015, gold opened up at $1,204.09 now, silver $17.12 now, Texas
[01:00:30.800 --> 01:00:42.600]  crude $58.98 a barrel, and Bitcoin is currently sitting at about $236 U.S. currency.
[01:00:42.600 --> 01:00:47.720]  Today in history, Saturday, May 21st, 1932, Amelia Earhart lands in the field completing
[01:00:47.720 --> 01:00:50.520]  the first transatlantic solo flight by a woman.
[01:00:50.520 --> 01:00:53.800]  She set off the day before from Harbor Grace, Newfoundland, Canada.
[01:00:53.800 --> 01:00:58.440]  She was initially aiming for Paris in her single-engine Lockheed Vega 5B, but after
[01:00:58.440 --> 01:01:03.480]  encountering storms and a burnt exhaust pipe, she ended up landing in a pasture at Coolmore
[01:01:03.480 --> 01:01:12.600]  in Northern Ireland, ending her 14-hour, 56-minute flight.
[01:01:12.600 --> 01:01:17.240]  In recent news, Michael C. Ford, a State Department employee who has worked out at the U.S. Embassy
[01:01:17.240 --> 01:01:22.360]  in London since 2009, was arrested at Hartsfield Jackson Atlanta International Airport this
[01:01:22.360 --> 01:01:26.920]  past Sunday and appeared in a federal court today for apparently using government computers
[01:01:26.920 --> 01:01:31.480]  to extort college-age women into gathering sexually explicit material for him.
[01:01:31.480 --> 01:01:38.680]  He's also being charged with computer hacking and cyber-stalking.
[01:01:38.680 --> 01:01:42.500]  Cleanup crews have been hard at work picking up patches of crude petroleum off the beach
[01:01:42.500 --> 01:01:47.520]  and offshore waters from a pipeline that ruptured spewing as much as 2,500 barrels into San
[01:01:47.520 --> 01:01:51.480]  Francisco State Beach and into the Pacific Ocean, west of Santa Barbara.
[01:01:51.480 --> 01:01:55.400]  This mess was caused when an underground pipeline running parallel to the coastal highway burst
[01:01:55.400 --> 01:01:57.360]  on Tuesday for no apparent reason.
[01:01:57.360 --> 01:02:02.240]  If estimates are correct, this makes it the biggest spill since the 1969 offshore oil
[01:02:02.240 --> 01:02:07.480]  well blowout that dumped 80,000 to 100,000 barrels of crude petroleum into the Santa
[01:02:07.480 --> 01:02:13.720]  Barbara Channel.
[01:02:13.720 --> 01:02:17.760]  Last night, 13 trillion electron volts were created at the four collision points spaced
[01:02:17.760 --> 01:02:19.980]  around the Large Hydrogen Collider's tunnel.
[01:02:19.980 --> 01:02:24.680]  The collider has been through a planned two-year refurbishing after its first run in 2012,
[01:02:24.680 --> 01:02:26.800]  which only produced 8 trillion electron volts.
[01:02:26.800 --> 01:02:31.200]  In early April, after a slight delay, twin proton beams circulated the collider's 7-kilometer
[01:02:31.200 --> 01:02:35.320]  ring 30 stories below the Swiss-French border for the first time in two years.
[01:02:35.320 --> 01:02:37.240]  The first collisions began in early May.
[01:02:37.240 --> 01:02:41.320]  However, yesterday's collisions are treading into never-before-reached levels of energy,
[01:02:41.320 --> 01:02:43.960]  in effect setting a new energy record.
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[01:02:52.640 --> 01:03:19.960]  This has been your Lowdown for May 21, 2015.
[01:03:19.960 --> 01:03:27.800]  We are back, Randy Kelton with Law Radio, here with John in Texas.
[01:03:27.800 --> 01:03:28.800]  And where were we, John?
[01:03:28.800 --> 01:03:31.800]  Talking about your bankruptcy.
[01:03:31.800 --> 01:03:32.800]  And 49.885.
[01:03:32.800 --> 01:03:37.480]  Is that 49.8 and 26 USC 49.85?
[01:03:37.480 --> 01:03:42.560]  Oh, I guess I should...
[01:03:42.560 --> 01:03:43.840]  There you go.
[01:03:43.840 --> 01:03:47.360]  I tried to demute you and it didn't take.
[01:03:47.360 --> 01:03:51.000]  So you should be open, your mic should be open now.
[01:03:51.000 --> 01:03:52.000]  Okay.
[01:03:52.000 --> 01:03:54.040]  I was listing the penalties.
[01:03:54.040 --> 01:03:58.800]  Now, this is really important because there's another document that you file in the court,
[01:03:58.800 --> 01:04:01.800]  or two documents.
[01:04:01.800 --> 01:04:09.160]  There's 95,335 owed and 6,787 for the 100% of the payments.
[01:04:09.160 --> 01:04:21.880]  And the trustee, the amount of the note was 82,9 and also there's a prohibited transaction.
[01:04:21.880 --> 01:04:29.920]  And prohibited transaction, you're fined $50,000.
[01:04:29.920 --> 01:04:32.040]  But you didn't know that, did you?
[01:04:32.040 --> 01:04:33.680]  What statute was that?
[01:04:33.680 --> 01:04:36.680]  Was it 26 U.S. Code 49.85?
[01:04:36.680 --> 01:04:39.680]  49.75.
[01:04:39.680 --> 01:04:40.680]  75.
[01:04:40.680 --> 01:04:41.680]  Okay.
[01:04:41.680 --> 01:04:42.680]  75.
[01:04:42.680 --> 01:04:43.680]  Okay.
[01:04:43.680 --> 01:04:44.680]  Go ahead.
[01:04:44.680 --> 01:04:45.680]  Okay.
[01:04:45.680 --> 01:04:56.040]  If it's a prohibited transaction, and it says that in the PSA, the Pulling and Service
[01:04:56.040 --> 01:05:06.600]  Agreement, it's a prohibited transaction, but it falls under a fine, tax-wise, of $50,000.
[01:05:06.600 --> 01:05:13.920]  In other words, when they file that, they're fined $50,000.
[01:05:13.920 --> 01:05:22.240]  Now this is per incident, $50,000 for each incident.
[01:05:22.240 --> 01:05:23.880]  Okay.
[01:05:23.880 --> 01:05:26.440]  How are they fined?
[01:05:26.440 --> 01:05:30.440]  What is the procedure?
[01:05:30.440 --> 01:05:45.040]  Title 26, U.S.C. Section 856, and it falls under paragraph, and I just printed this out,
[01:05:45.040 --> 01:05:54.560]  look, it's about, oh, page 1617 on there, that each prohibited transaction, they're
[01:05:54.560 --> 01:05:55.560]  penalized.
[01:05:55.560 --> 01:05:59.360]  I'll just read it to you.
[01:05:59.360 --> 01:06:08.560]  That's part C. Secretary of Regulations, same-matters tax, a penalty of $50,000 for each failure
[01:06:08.560 --> 01:06:15.960]  to satisfy provision of this part, these are reasonable calls, and not willful neglect.
[01:06:15.960 --> 01:06:22.280]  Okay, that's what the penalty is.
[01:06:22.280 --> 01:06:27.240]  What I was getting at is how do we get them stuck with the penalty?
[01:06:27.240 --> 01:06:29.120]  I'm fixed to tell you.
[01:06:29.120 --> 01:06:30.120]  Okay.
[01:06:30.120 --> 01:06:31.120]  Good.
[01:06:31.120 --> 01:06:32.120]  This is the easy part.
[01:06:32.120 --> 01:06:33.120]  I'm looking at my notes here.
[01:06:33.120 --> 01:06:38.040]  There's a few notes here I want to tell you before I get into it, and a lot of people
[01:06:38.040 --> 01:06:47.160]  don't know this, but anyway, it's impossible for them to be a holder in due course, whether
[01:06:47.160 --> 01:06:54.960]  it's in the RIMIC or not, and that's because when they did the credit application, and
[01:06:54.960 --> 01:07:00.000]  golly, I can't remember that number, I think it's 33 something, I can't remember what it
[01:07:00.000 --> 01:07:01.000]  is.
[01:07:01.000 --> 01:07:10.640]  It's 15 U.S. Code 433, if I remember right, goes to holder in due course.
[01:07:10.640 --> 01:07:21.480]  A holder in due course is someone who holds the instrument with no liability.
[01:07:21.480 --> 01:07:27.440]  If somebody writes you a bad check, now you're holding a bad check, but you're a holder in
[01:07:27.440 --> 01:07:34.360]  due course, so if there was some fraud in the production of that document, you're not
[01:07:34.360 --> 01:07:39.320]  liable to it because you're a holder in due course.
[01:07:39.320 --> 01:07:45.680]  What 15 U.S. Code 433 said, if I got the number right, is that we have mortgage companies
[01:07:45.680 --> 01:07:54.040]  going into business writing these bogus notes, and then they go out of business leaving the
[01:07:54.040 --> 01:08:01.320] ... They sell the note and then go out of business leaving the borrower with no remedy.
[01:08:01.320 --> 01:08:10.640]  Therefore, in the matter of a consumer transaction, a ultimate holder, there shall be no holder
[01:08:10.640 --> 01:08:19.640]  in due course that any subsequent holder stands in the shoes of the creator of the instrument
[01:08:19.640 --> 01:08:26.440]  and is subject to any claim the borrower would have against the lender.
[01:08:26.440 --> 01:08:33.080]  That's why he can't be a holder in due course because he has liability for anything that
[01:08:33.080 --> 01:08:35.080]  anybody before him has done.
[01:08:35.080 --> 01:08:40.800]  Right, there's another reason also, Randy, I don't know if you know this, but there's
[01:08:40.800 --> 01:08:52.520]  a UCC 305, UCC 306, this money that was put in there and they walked out the window and
[01:08:52.520 --> 01:08:58.760]  got the money, cash money... Hold on, walked up to the window.
[01:08:58.760 --> 01:09:02.160]  You're talking about the Federal Reserve window.
[01:09:02.160 --> 01:09:06.880]  Okay, hold on, that's a big presumption.
[01:09:06.880 --> 01:09:11.520]  No, no, no, no, no.
[01:09:11.520 --> 01:09:15.280]  You're presuming that they went to the Fed window and got the money.
[01:09:15.280 --> 01:09:17.280]  Yeah, they had to.
[01:09:17.280 --> 01:09:18.280]  No, they didn't.
[01:09:18.280 --> 01:09:25.160]  That's why Washington Mutual got put out of business and essentially why Wachovia got
[01:09:25.160 --> 01:09:31.960]  put out of business, is they were pretending to go to the Fed window and pulling this money
[01:09:31.960 --> 01:09:37.320]  from the fractional reserve accounts, but in fact, they were pulling this money from
[01:09:37.320 --> 01:09:40.720]  special purpose vehicles.
[01:09:40.720 --> 01:09:44.840]  It's a special purpose vehicle for those who don't know.
[01:09:44.840 --> 01:09:50.000]  The borrower, the lender will sell his note to a special purpose vehicle or sell the right
[01:09:50.000 --> 01:09:54.880]  to be paid to a special purpose vehicle and the special purpose vehicle will aggregate
[01:09:54.880 --> 01:09:57.800]  that into this pass-through trust thing.
[01:09:57.800 --> 01:10:05.800]  Well, the problem was, Washington Mutual stood before everybody as if they were a major bank
[01:10:05.800 --> 01:10:10.280]  and you want a loan with us, we'll go to our Federal Reserve account.
[01:10:10.280 --> 01:10:18.280]  We'll pull out this fractionalized funds and purchase the warranty deed for you.
[01:10:18.280 --> 01:10:22.800]  You give us this promissory note, promising to pay it all back.
[01:10:22.800 --> 01:10:28.320]  The problem was, is they didn't go to the Fed window, they went to the special purpose
[01:10:28.320 --> 01:10:34.800]  vehicle who happened to be funded by Mexican and Colombian drug cartels, biggest money
[01:10:34.800 --> 01:10:38.280]  laundering operation in the history of the planet.
[01:10:38.280 --> 01:10:44.720]  They probably would have got away with that, but they were working with the CIA's competitors
[01:10:44.720 --> 01:10:50.600]  in drug sales and the CIA got real upset about it and shut down Washington Mutual.
[01:10:50.600 --> 01:10:58.480]  They caught Wachovia with a plane full of some $385 million that they were using this
[01:10:58.480 --> 01:11:00.720]  process to launder drug money.
[01:11:00.720 --> 01:11:04.560]  I'm sorry, that's off topic, but I thought it was interesting.
[01:11:04.560 --> 01:11:08.240]  Okay, this is the way I understand it.
[01:11:08.240 --> 01:11:13.440]  That note I signed, they took it to the Federal Reserve window.
[01:11:13.440 --> 01:11:17.120]  It's just a piece of paper, it doesn't make you worry the little 10-year-old kids playing
[01:11:17.120 --> 01:11:24.120]  in the sandpile would make up a note, and the American oil, the mortgage company, which
[01:11:24.120 --> 01:11:33.520]  doesn't exist, it's the same thing, but when you take it to the window, it converts to
[01:11:33.520 --> 01:11:41.600]  pay to the order of the promissory note, it converts to pay to the order of, then it supposedly
[01:11:41.600 --> 01:11:45.880]  goes into the remit, which it never did.
[01:11:45.880 --> 01:11:53.360]  Then they take that $82,900 that they got in their pocket, then they go fractalize it.
[01:11:53.360 --> 01:12:01.720]  If it's a 10, fractalize it, it's $829,000, then there's a holdback of about 10%.
[01:12:01.720 --> 01:12:15.080]  Okay, it goes a step further, as part of that money's mine, part of the 82,000, because
[01:12:15.080 --> 01:12:27.400]  I furnish the money, it falls under UCC 306, it gives me a promissory, I can't pronounce
[01:12:27.400 --> 01:12:36.560]  it, promissory right, and I have an interest in that because I am a undisclosed third party
[01:12:36.560 --> 01:12:52.320]  beneficiary, and I'm entitled to part of that money, and it even goes further on to, falls
[01:12:52.320 --> 01:12:57.200]  under FASB 95 accounting and so forth.
[01:12:57.200 --> 01:13:07.080]  Okay, hold on, let me read UCC 306, a person taking an instrument other than a person having
[01:13:07.080 --> 01:13:14.800]  rights of a holder in due course is subject to a claim of a property or possessory right
[01:13:14.800 --> 01:13:22.600]  in the instrument or its proceeds, including a claim to rescind a negotiation and to recover
[01:13:22.600 --> 01:13:33.040]  the instrument or its proceeds, a person having rights of a holder in due course takes free
[01:13:33.040 --> 01:13:35.800]  of the claim to the instrument.
[01:13:35.800 --> 01:13:38.640]  Right, but it's not.
[01:13:38.640 --> 01:13:41.360]  That did not make sense to me.
[01:13:41.360 --> 01:13:48.160]  Okay, they're taking it subject to, but remember you reminded me of that number, because on
[01:13:48.160 --> 01:13:54.120]  the credit application, they're taking it subject to, because that was taken out.
[01:13:54.120 --> 01:13:59.880]  That's why the mortgage companies, county-wide, all of them take that out of it.
[01:13:59.880 --> 01:14:06.400]  So when you just read 306, the one right above it gives you a right for recoupment, 305,
[01:14:06.400 --> 01:14:08.960]  that means I'm going to get it back.
[01:14:08.960 --> 01:14:14.040]  So do you understand how it works now, 306 and 305?
[01:14:14.040 --> 01:14:24.160]  I would have to read the case law, because this is not clear as to person, a person taking
[01:14:24.160 --> 01:14:29.200]  an instrument other than a person having rights of a holder in due course.
[01:14:29.200 --> 01:14:36.240]  And in this case, we're talking about the lender taking the instrument, and he's not
[01:14:36.240 --> 01:14:43.880]  a holder in due course, is subject to a claim of a property or possessory right in the instrument
[01:14:43.880 --> 01:14:49.960]  or its proceeds, including a claim to rescind a negotiation and to recover the instrument
[01:14:49.960 --> 01:14:52.440]  or its proceeds.
[01:14:52.440 --> 01:14:57.240]  I don't see how that gets you where you're going.
[01:14:57.240 --> 01:15:00.880]  Well, it does.
[01:15:00.880 --> 01:15:03.800]  Let me try to make this make sense.
[01:15:03.800 --> 01:15:08.960]  Since this is not a holder in due course, they're merely a holder, and that means there
[01:15:08.960 --> 01:15:14.520]  can be claims that the holder is subject to.
[01:15:14.520 --> 01:15:23.280]  So if someone held a claim to which the holder was subject, then the holder could exercise
[01:15:23.280 --> 01:15:26.400]  that claim against the holder.
[01:15:26.400 --> 01:15:32.600]  That's why you filed a suit to recoup under 305 and 306.
[01:15:32.600 --> 01:15:33.880]  Okay.
[01:15:33.880 --> 01:15:37.280]  What are you trying to recoup?
[01:15:37.280 --> 01:15:42.920]  You have the right because you furnished the money.
[01:15:42.920 --> 01:15:48.320]  That never made sense to me because there is no money.
[01:15:48.320 --> 01:15:53.520]  Mortgage is not about money.
[01:15:53.520 --> 01:15:59.520]  There's no money changes hands in a mortgage.
[01:15:59.520 --> 01:16:09.520]  The lender brings you a warranty deed and trades you that warranty deed for a promise
[01:16:09.520 --> 01:16:10.520]  to pay.
[01:16:10.520 --> 01:16:15.480]  There's no money there.
[01:16:15.480 --> 01:16:21.560]  The fact that the bank took some of its money and bought the warranty deed, you don't have
[01:16:21.560 --> 01:16:24.240]  any say or standing in that.
[01:16:24.240 --> 01:16:29.720]  So I've heard this argument before, but I never quite understood it.
[01:16:29.720 --> 01:16:33.240]  There's obviously something that's beyond me that I've missed.
[01:16:33.240 --> 01:16:34.240]  Okay.
[01:16:34.240 --> 01:16:38.240]  We'll talk about it again sometime.
[01:16:38.240 --> 01:16:40.640]  Going to break?
[01:16:40.640 --> 01:16:41.640]  Okay.
[01:16:41.640 --> 01:16:42.640]  Hang on.
[01:16:42.640 --> 01:16:45.640]  We're about to go to break.
[01:16:45.640 --> 01:16:52.240]  I've got three that's 305 on the break, and maybe it makes sense of it when we come back.
[01:16:52.240 --> 01:17:01.080]  This is Randy Kelton, Rue of La Radio, I call it number 512-646-1984.
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[01:19:26.080 --> 01:19:36.800]  Okay, we are back, Randy Kelton, Wheelbar Radio, on this Friday, June the 5th, 2015 and we're
[01:19:36.800 --> 01:19:45.400]  talking to John in Texas and over the break I was reading 3-305 defenses and claims in
[01:19:45.400 --> 01:19:48.400]  recoupment.
[01:19:48.400 --> 01:19:55.280]  Where is it in 3-05 that you're given the right to make a claim in recoupment?
[01:19:55.280 --> 01:20:02.360]  3-05 is right in recoupment, 3-06 you have a Protestant, how do you pronounce that Protestant
[01:20:02.360 --> 01:20:03.360]  be right?
[01:20:03.360 --> 01:20:09.440]  No, no, I just read the title to 3-05 is defenses and claims in recoupment.
[01:20:09.440 --> 01:20:18.680]  The only part, I've read C and C addresses recoupment but it says you don't have a right
[01:20:18.680 --> 01:20:24.640]  to recoupment under C except as stated in subsection D, if an action to enforce the
[01:20:24.640 --> 01:20:32.480]  obligation of a party to pay the instrument, I'm sorry, in an action to enforce the obligation
[01:20:32.480 --> 01:20:38.800]  of a party to pay the instrument, the obligor may not assert against the person entitled
[01:20:38.800 --> 01:20:47.600]  to enforce the instrument a defense claim in recoupment or claim to the instrument of
[01:20:47.600 --> 01:20:55.160]  any other person but the other person's claim to the instrument may be asserted by the obligor
[01:20:55.160 --> 01:20:59.680]  if the other person is joined in the action and personally asserts the claim against the
[01:20:59.680 --> 01:21:03.440]  person entitled to enforce the instrument.
[01:21:03.440 --> 01:21:05.760]  Did that make sense to you?
[01:21:05.760 --> 01:21:09.320]  It sure didn't to me.
[01:21:09.320 --> 01:21:10.320]  You have that right.
[01:21:10.320 --> 01:21:18.640]  Is this the part of 3-05, 3S-05 you were referring to in concern in recoupment?
[01:21:18.640 --> 01:21:22.160]  It's 3-05 and 3-06, now what I didn't-
[01:21:22.160 --> 01:21:30.000]  I got that but right now I'm trying to talk about 3-05, what does it say?
[01:21:30.000 --> 01:21:33.880]  You said in 3-05 that you have a right to recoupment.
[01:21:33.880 --> 01:21:37.760]  Where?
[01:21:37.760 --> 01:21:40.400]  I'm looking at it but I can't find it.
[01:21:40.400 --> 01:21:53.680]  I'm looking at number 3, the claim to recoup and the originator against the original payee
[01:21:53.680 --> 01:21:54.680]  of the instrument.
[01:21:54.680 --> 01:21:57.880]  Okay, what are you looking at now?
[01:21:57.880 --> 01:22:00.880]  You broke up a second there.
[01:22:00.880 --> 01:22:13.480]  3-05A3, a claim in recoupment of the obligor against payee of the instrument.
[01:22:13.480 --> 01:22:19.120]  If the claim arose, okay, acceptors otherwise provided in this section, the right to enforce
[01:22:19.120 --> 01:22:26.160]  the obligation of a party to pay an instrument is subject to the following, a claim of recoupment
[01:22:26.160 --> 01:22:33.000]  of the obligor against the original payee of the instrument if the claim arose from
[01:22:33.000 --> 01:22:40.640]  the transaction that gave rise to the instrument but the claim of the obligor may be asserted
[01:22:40.640 --> 01:22:47.760]  against a transferee of the instrument only to reduce the amount owing on the instrument
[01:22:47.760 --> 01:22:50.680]  at the time the action is brought.
[01:22:50.680 --> 01:22:55.280]  Okay, what does that mean?
[01:22:55.280 --> 01:23:03.560]  You can use it as a counterclaim if a bank files suit against you, you can use it for
[01:23:03.560 --> 01:23:06.160]  a counterclaim to reduce it.
[01:23:06.160 --> 01:23:15.120]  This is one of the reasons in my opinion that the remics are not security designed because
[01:23:15.120 --> 01:23:19.400]  they have this right for recoupment.
[01:23:19.400 --> 01:23:27.480]  Okay, I've just looked up recoupment.
[01:23:27.480 --> 01:23:37.200]  Recoupment is the practice common in the music industry of claiming an advance provided to
[01:23:37.200 --> 01:23:47.960]  the artist back from that artist rather than from related sources.
[01:23:47.960 --> 01:23:52.640]  Let's see if I can find something else on recoupment.
[01:23:52.640 --> 01:24:00.280]  Example, suppose that a label gives the quarter of a million to record an album, they agree
[01:24:00.280 --> 01:24:03.040]  to do so in return for 90% of the sales.
[01:24:03.040 --> 01:24:06.680]  Okay, this sounds like securitization.
[01:24:06.680 --> 01:24:13.720]  The album is recorded and sells 200,000 copies at $10 each, yielding 2 million.
[01:24:13.720 --> 01:24:22.600]  The record company takes 90% of this agreed, leaving the band with 200,000 of their own.
[01:24:22.600 --> 01:24:26.480]  This is a situation without recoupment.
[01:24:26.480 --> 01:24:32.040]  With recoupment, the label gives the band 250,000 as before.
[01:24:32.040 --> 01:24:37.320]  The album again sells 200,000 copies at $10 each, yielding 2 million.
[01:24:37.320 --> 01:24:44.680]  The record company takes 90% of this as before, leaving the band with 200,000, but the record
[01:24:44.680 --> 01:24:51.440]  company no longer considers the 90% of sales as payment of the advance.
[01:24:51.440 --> 01:24:57.560]  Instead, the band is required to pay the record company back the advance from their own cut,
[01:24:57.560 --> 01:25:04.840]  leaving them $50,000 debt to the record company, even though the record company has gained
[01:25:04.840 --> 01:25:05.840]  a million dollars.
[01:25:05.840 --> 01:25:15.400]  Okay, I kind of understand that, is the record company advanced them X amount of money, and
[01:25:15.400 --> 01:25:23.320]  then their percentage didn't amount to that amount of money, so the record company can
[01:25:23.320 --> 01:25:26.480]  get that part back.
[01:25:26.480 --> 01:25:39.200]  Even though they made more money, they made their 800,000, 2 million, they made 1.8 million.
[01:25:39.200 --> 01:25:49.080]  They can still collect 50 million back from the records from the band, because they didn't
[01:25:49.080 --> 01:25:52.240]  sell as many as they expected, is that making sense?
[01:25:52.240 --> 01:25:53.240]  Yes.
[01:25:53.240 --> 01:26:02.400]  Okay, now how does recoupment work in the security instrument context, because I don't
[01:26:02.400 --> 01:26:11.320]  see as to where there is the borrower has anything to recoup.
[01:26:11.320 --> 01:26:15.720]  The borrower finished the money.
[01:26:15.720 --> 01:26:16.720]  How?
[01:26:16.720 --> 01:26:20.960]  How did the borrower finish?
[01:26:20.960 --> 01:26:21.960]  What money?
[01:26:21.960 --> 01:26:24.600]  As far as I know, there is no money.
[01:26:24.600 --> 01:26:28.480]  Or are you saying the borrower furnished the money that he paid in, in accordance with
[01:26:28.480 --> 01:26:29.480]  his promise?
[01:26:29.480 --> 01:26:36.720]  Is that the money you're talking about?
[01:26:36.720 --> 01:26:44.000]  Are you talking about the funds that supposedly the bank secured from the Federal Reserve
[01:26:44.000 --> 01:26:45.000]  System?
[01:26:45.000 --> 01:26:46.000]  Right.
[01:26:46.000 --> 01:26:47.000]  Okay.
[01:26:47.000 --> 01:27:00.040]  Under UCC 4A, 4A-104, parentheses small c, I was the originator of the first funds.
[01:27:00.040 --> 01:27:03.280]  I made the first payment.
[01:27:03.280 --> 01:27:08.080]  Okay, the first monthly payment.
[01:27:08.080 --> 01:27:11.480]  Yes, I made the first payment, just the first payment.
[01:27:11.480 --> 01:27:12.480]  Okay.
[01:27:12.480 --> 01:27:17.760]  I was the originator of the first funds.
[01:27:17.760 --> 01:27:18.760]  Okay.
[01:27:18.760 --> 01:27:21.760]  That's close.
[01:27:21.760 --> 01:27:23.360]  And what do you have to recoup?
[01:27:23.360 --> 01:27:30.400]  How do you claim recoupment of funds you paid in accordance with your promise to pay?
[01:27:30.400 --> 01:27:36.280]  Okay, maybe this will be more simpler.
[01:27:36.280 --> 01:27:40.440]  I signed a note for $82,900.
[01:27:40.440 --> 01:27:44.080]  That was put into the bank.
[01:27:44.080 --> 01:27:50.000]  Oh, hold on, hold on, wait a minute, wait a minute.
[01:27:50.000 --> 01:27:58.560]  You're making this claim based on the presumption that when you created a promise to pay X amount
[01:27:58.560 --> 01:28:04.960]  of money, that X amount of money was created.
[01:28:04.960 --> 01:28:07.000]  That's correct.
[01:28:07.000 --> 01:28:12.320]  How did we get there?
[01:28:12.320 --> 01:28:16.120]  Where did that money come from?
[01:28:16.120 --> 01:28:24.520]  It came from my Federal Reserve money, Social Security, I would call it Social Security,
[01:28:24.520 --> 01:28:26.680]  but it was come out of thin air.
[01:28:26.680 --> 01:28:30.200]  Are you familiar with the Cedar River decision?
[01:28:30.200 --> 01:28:34.200]  Have you ever heard of it?
[01:28:34.200 --> 01:28:35.200]  No.
[01:28:35.200 --> 01:28:36.200]  Oh, man.
[01:28:36.200 --> 01:28:38.600]  You need to write this down.
[01:28:38.600 --> 01:28:40.640]  Anybody listening?
[01:28:40.640 --> 01:28:49.160]  The money, they got it out of thin air, called the Cedar River decision.
[01:28:49.160 --> 01:28:53.440]  The judge was eventually murdered because of it.
[01:28:53.440 --> 01:28:59.480]  The attorney that handled it in one veto was disbarred.
[01:28:59.480 --> 01:29:00.480]  Cedar River decision.
[01:29:00.480 --> 01:29:03.480]  I think it's out of Minnesota.
[01:29:03.480 --> 01:29:06.480]  Minnesota, Cedar River decision.
[01:29:06.480 --> 01:29:07.480]  Cedar, C-E-D-A-R.
[01:29:07.480 --> 01:29:08.480]  Okay.
[01:29:08.480 --> 01:29:09.480]  Great.
[01:29:09.480 --> 01:29:10.480]  That's kind of lengthy.
[01:29:10.480 --> 01:29:11.480]  Okay.
[01:29:11.480 --> 01:29:12.480]  Imagine this.
[01:29:12.480 --> 01:29:20.280]  I signed a promissory note, they cashed it at the window.
[01:29:20.280 --> 01:29:26.200]  The Federal Reserve pulled the money out of thin air.
[01:29:26.200 --> 01:29:35.400]  Now then, on Section 1813L1, I am supposed to get a deposit receipt.
[01:29:35.400 --> 01:29:37.400]  They don't give that to you.
[01:29:37.400 --> 01:29:38.400]  They hide it.
[01:29:38.400 --> 01:29:45.400]  We're fixing up a break?
[01:29:45.400 --> 01:29:46.400]  Yes.
[01:29:46.400 --> 01:29:54.120]  I've had this discussion a number of times and it never has been satisfactory.
[01:29:54.120 --> 01:30:02.240]  We'll pick this up on the other side, Ranch-Kelton, we'll be right back.
[01:30:02.240 --> 01:30:05.760]  Jacob Boscov dreamed up the most sinister weapon he could think of.
[01:30:05.760 --> 01:30:10.560]  Then he built a prototype and tried to sell it in an international weapons trade show.
[01:30:10.560 --> 01:30:11.920]  The results were surprising.
[01:30:11.920 --> 01:30:16.480]  I'm Dr. Catherine Albert and I'll tell you more in just a moment.
[01:30:16.480 --> 01:30:17.480]  Privacy is under attack.
[01:30:17.480 --> 01:30:21.680]  When you give up data about yourself, you'll never get it back again.
[01:30:21.680 --> 01:30:26.440]  And once your privacy is gone, you'll find your freedoms will start to vanish, too.
[01:30:26.440 --> 01:30:31.480]  So protect your rights, say no to surveillance, and keep your information to yourself.
[01:30:31.480 --> 01:30:34.200]  Privacy, it's worth hanging on to.
[01:30:34.200 --> 01:30:38.480]  This public service announcement is brought to you by Startpage.com, the private search
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[01:30:45.600 --> 01:30:47.680]  Governments can't be trusted with weapons.
[01:30:47.680 --> 01:30:52.400]  That's what Danish artist Jacob Boscov discovered when he marketed a fake weapon called the
[01:30:52.400 --> 01:30:54.000]  ID Sniper Rifle.
[01:30:54.000 --> 01:30:58.280]  He claimed it would allow government agents to shoot microchip implants into people from
[01:30:58.280 --> 01:31:00.880]  a distance and then secretly track them by satellite.
[01:31:00.880 --> 01:31:04.920]  The chip was supposed to feel like a mosquito bite and leave no obvious marks.
[01:31:04.920 --> 01:31:10.200]  It's a ridiculous notion, but government representatives from around the world bought the concept hook,
[01:31:10.200 --> 01:31:11.400]  line, and sinker.
[01:31:11.400 --> 01:31:15.840]  Reportedly, Chinese police were extremely interested, as were representatives from several
[01:31:15.840 --> 01:31:17.480]  other countries.
[01:31:17.480 --> 01:31:20.400]  They're always looking for new ways to stick it to you.
[01:31:20.400 --> 01:31:22.080]  I'm Dr. Catherine Albrecht.
[01:31:22.080 --> 01:31:30.680]  More news and information at CatherineAlbrecht.com.
[01:31:30.680 --> 01:31:36.040]  This is Building 7, a 47-story skyscraper that fell on the afternoon of September 11th.
[01:31:36.040 --> 01:31:38.440]  The government says that fire brought it down.
[01:31:38.440 --> 01:31:43.080]  However, 1,500 architects and engineers concluded it was a controlled demolition.
[01:31:43.080 --> 01:31:45.800]  Over 6,000 of my fellow service members have given their lives.
[01:31:45.800 --> 01:31:48.560]  And thousands of my fellow first responders are dying.
[01:31:48.560 --> 01:31:50.000]  I'm not a conspiracy theorist.
[01:31:50.000 --> 01:31:51.000]  I'm a structural engineer.
[01:31:51.000 --> 01:31:52.400]  I'm a New York City correction ops.
[01:31:52.400 --> 01:31:53.400]  I'm an Air Force pilot.
[01:31:53.400 --> 01:31:55.000]  I'm a father who lost his son.
[01:31:55.000 --> 01:31:57.600]  We're Americans, and we deserve the truth.
[01:31:57.600 --> 01:32:00.840]  Go to RememberBuilding7.org today.
[01:32:00.840 --> 01:32:03.160]  Hey, it's Danny here for Hill Country Home Improvements.
[01:32:03.160 --> 01:32:06.120]  Did your home receive hail or wind damage from the recent storms?
[01:32:06.120 --> 01:32:09.920]  Come on, we all know the government caused it with their Kim trails, but good luck getting
[01:32:09.920 --> 01:32:10.920]  them to pay for it.
[01:32:10.920 --> 01:32:14.360]  Okay, I might be kidding about the Kim trails, but I'm serious about your roof.
[01:32:14.360 --> 01:32:18.320]  That's why you have insurance, and Hill Country Home Improvements can handle the claim for
[01:32:18.320 --> 01:32:21.080]  you with little to no out-of-pocket expense.
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[01:32:31.040 --> 01:32:32.040]  first time.
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[01:32:40.760 --> 01:32:45.400]  And we'll donate another $100 to the Logos Radio Network to help continue this programming.
[01:32:45.400 --> 01:32:50.520]  So if those out-of-town roofers come knocking, your door should be locking.
[01:32:50.520 --> 01:32:56.600]  That's 512-992-8745 or hillcountryhomeimprovements.com.
[01:32:56.600 --> 01:32:58.480]  Discounts are based on full roof replacement.
[01:32:58.480 --> 01:33:01.080]  May not actually be kidding about Kim trails.
[01:33:01.080 --> 01:33:04.680]  Looking for some truth?
[01:33:04.680 --> 01:33:07.680]  You found it.
[01:33:07.680 --> 01:33:14.680]  It's 512-992-8745 or hillcountryhomeimprovements.com.
[01:33:14.680 --> 01:33:35.440]  Okay, we are back, Brandon.
[01:33:35.440 --> 01:33:38.880]  Alton Ruval Radio, and we're talking to John in Texas.
[01:33:38.880 --> 01:33:43.200]  And John, here's where I've had an issue with this.
[01:33:43.200 --> 01:33:49.360]  Over the break, I could not find the Cedar River decision.
[01:33:49.360 --> 01:33:56.360]  I saw a lot of stuff on Cedar River, but not on any court case relating to Cedar River.
[01:33:56.360 --> 01:33:59.960]  Could you send me a citation to that?
[01:33:59.960 --> 01:34:01.440]  Yeah.
[01:34:01.440 --> 01:34:03.440]  Okay.
[01:34:03.440 --> 01:34:11.000]  Cedar River decision, 1968, the judge was murdered, poisoned six months later, and I'll
[01:34:11.000 --> 01:34:12.000]  tend to tell you.
[01:34:12.000 --> 01:34:19.240]  I'll tell you what, this will be stem for any, I'm going to file an adversary complaint.
[01:34:19.240 --> 01:34:20.240]  That's the name of this.
[01:34:20.240 --> 01:34:21.240]  I'm going to recoup.
[01:34:21.240 --> 01:34:22.240]  I've already got it in my computer.
[01:34:22.240 --> 01:34:25.000]  I'm going to put it into the bankruptcy court.
[01:34:25.000 --> 01:34:26.640]  I'll send you a copy of it.
[01:34:26.640 --> 01:34:27.640]  Then you'll understand.
[01:34:27.640 --> 01:34:28.640]  Okay.
[01:34:28.640 --> 01:34:29.640]  It's adversity.
[01:34:29.640 --> 01:34:35.480]  Now, you can just do that with the letter, sometimes people see that, they'll understand
[01:34:35.480 --> 01:34:38.320]  that they'll be the property.
[01:34:38.320 --> 01:34:42.800]  They will release the lien and reconvey it to you, whether it be a trust.
[01:34:42.800 --> 01:34:44.520]  But I want to go ahead and move along.
[01:34:44.520 --> 01:34:47.040]  I hate to take people's time up.
[01:34:47.040 --> 01:34:48.040]  Okay.
[01:34:48.040 --> 01:34:53.040]  Now, I'm going to kind of hit on some things here.
[01:34:53.040 --> 01:34:59.840]  Now, this remake falls under New York trust law, not Texas law, not anything else.
[01:34:59.840 --> 01:35:03.280]  It's New York trust law, period.
[01:35:03.280 --> 01:35:10.480]  You got to know trust law, you got to know accounting, tax law, commercial law.
[01:35:10.480 --> 01:35:14.320]  You got to know all those things in order to understand this.
[01:35:14.320 --> 01:35:23.000]  Well, it just so happens that New York, and only New York, they have a form that you file
[01:35:23.000 --> 01:35:32.200]  with the court on a foreclosure, it's called CPLR Section 2106.
[01:35:32.200 --> 01:35:37.160]  It's the only state that requires this on a foreclosure.
[01:35:37.160 --> 01:35:40.400]  And the attorney has to sign an affidavit.
[01:35:40.400 --> 01:35:45.360]  Everything's on the up and up, with any four juries, with any fraud involved.
[01:35:45.360 --> 01:35:52.120]  It's like a four-page deal, CPLR Section 2106.
[01:35:52.120 --> 01:35:57.840]  They've been around since August 2010, New York Supreme Court.
[01:35:57.840 --> 01:35:58.840]  Okay.
[01:35:58.840 --> 01:36:04.800]  Here's the question you asked me, how do we get all this IRS deal in the court?
[01:36:04.800 --> 01:36:14.480]  You pull up IRS form 4490, and you list it, and you file it with IRS.
[01:36:14.480 --> 01:36:18.600]  IRS form what?
[01:36:18.600 --> 01:36:19.600]  4490.
[01:36:19.600 --> 01:36:33.400]  It's a person playing with the internal revenue.
[01:36:33.400 --> 01:36:36.520]  You actually file it in your court.
[01:36:36.520 --> 01:36:47.680]  You put down who the attorney firm is in Bank of America, the cause number, it has to be
[01:36:47.680 --> 01:36:48.680]  number two.
[01:36:48.680 --> 01:36:49.680]  Okay.
[01:36:49.680 --> 01:36:50.680]  Question.
[01:36:50.680 --> 01:37:01.120]  Since all of these trusts are under New York law, if a trust that's operating under New
[01:37:01.120 --> 01:37:09.480]  York law forecloses on a property in Texas, how does New York law apply to that trust
[01:37:09.480 --> 01:37:11.760]  as concerns the foreclosure in Texas?
[01:37:11.760 --> 01:37:14.160]  Do they still have to file this document?
[01:37:14.160 --> 01:37:17.560]  You think it's in New York today.
[01:37:17.560 --> 01:37:26.120]  This is going to be hard to understand, but this remake, all this is about taxes, taxes
[01:37:26.120 --> 01:37:29.400]  only.
[01:37:29.400 --> 01:37:34.280]  And you think about, you know, people make payments, yes, but it's all about taxes.
[01:37:34.280 --> 01:37:38.520]  That's the gist of it.
[01:37:38.520 --> 01:37:49.080]  The banks owe this tax period on these mortgages, and they're looking to you, the borrower,
[01:37:49.080 --> 01:37:50.080]  to pay it.
[01:37:50.080 --> 01:37:58.200]  That's why they go in there and they foreclose on, they'll do what's called a 1099A or maybe
[01:37:58.200 --> 01:38:00.400]  a 1099C.
[01:38:00.400 --> 01:38:03.040]  They're making you pay their penalty.
[01:38:03.040 --> 01:38:05.520]  Do you understand that?
[01:38:05.520 --> 01:38:14.120]  Well, they're writing off the debt and charging the debt back to you.
[01:38:14.120 --> 01:38:15.120]  That's correct.
[01:38:15.120 --> 01:38:16.120]  It's complicated.
[01:38:16.120 --> 01:38:17.120]  It falls under.
[01:38:17.120 --> 01:38:26.480]  So it's kind of mischaracterization to say that you're paying their penalty.
[01:38:26.480 --> 01:38:30.800]  They don't have to pay on a debt if they never receive the income.
[01:38:30.800 --> 01:38:36.360]  There's no tax on income that didn't happen, and they're saying, we didn't receive this
[01:38:36.360 --> 01:38:44.520]  income that you received this income because you didn't pay the debt, so you were advantaged
[01:38:44.520 --> 01:38:51.920]  by this amount and we were disadvantaged by it, so we shouldn't have to pay tax on money
[01:38:51.920 --> 01:38:52.920]  we didn't get.
[01:38:52.920 --> 01:38:53.920]  Is that correct?
[01:38:53.920 --> 01:39:01.040]  Okay, what it is, they did not pay the transfer.
[01:39:01.040 --> 01:39:10.720]  Specifically, they did not file with IRS Form 1066, I believe it is, that's for the remit.
[01:39:10.720 --> 01:39:15.600]  They have to file it and if they didn't transfer it, they're not going to file it because if
[01:39:15.600 --> 01:39:23.280]  they file it, they have to pay the tax.
[01:39:23.280 --> 01:39:26.480]  This is not near enough information to make sense of all of this.
[01:39:26.480 --> 01:39:33.440]  You're saying they have to do that, but I don't understand why, and this could take
[01:39:33.440 --> 01:39:37.400]  a long time to get all this sorted out from the way we're going.
[01:39:37.400 --> 01:39:41.720]  We're into the hour and a half already and we're not very far along.
[01:39:41.720 --> 01:39:46.600]  Part of it's my fault that I've been leading this off on rabbit trails, but it's parts
[01:39:46.600 --> 01:39:47.600]  I don't understand.
[01:39:47.600 --> 01:39:53.160]  I know it was hard for me to do it, it took me a long time to understand it.
[01:39:53.160 --> 01:40:01.400]  I spent a lot of time researching this, but you need to file it well.
[01:40:01.400 --> 01:40:03.160]  Have you ever written this out?
[01:40:03.160 --> 01:40:07.120]  It's written out, I'm looking at it.
[01:40:07.120 --> 01:40:10.400]  Can you send me what you've written?
[01:40:10.400 --> 01:40:11.400]  Yes.
[01:40:11.400 --> 01:40:18.240]  Let me look at it, maybe I can get my head wrapped around it.
[01:40:18.240 --> 01:40:23.600]  So we have this discussion and I don't keep taking you down rabbit holes.
[01:40:23.600 --> 01:40:26.800]  The form is 4049 or so, but there's a second form.
[01:40:26.800 --> 01:40:33.200]  Now then, I'll list this out and I was hesitant to say this, but there's another form that's
[01:40:33.200 --> 01:40:37.440]  called 3949-A.
[01:40:37.440 --> 01:40:46.520]  In my situation, I have nine copies of promissory notes, seven of them are forgeries.
[01:40:46.520 --> 01:40:50.120]  There are different forgeries.
[01:40:50.120 --> 01:40:59.400]  And I'm going to file those forgeries with the IRS because of $50,000 per forgery.
[01:40:59.400 --> 01:41:07.560]  Okay, I'm confused here, I don't know what all that means.
[01:41:07.560 --> 01:41:15.080]  3949-A, isn't that a notice to the IRS that somebody's not paying their taxes?
[01:41:15.080 --> 01:41:18.840]  Well, it goes a step further.
[01:41:18.840 --> 01:41:23.720]  If you'll read that, it's fair, let's see.
[01:41:23.720 --> 01:41:32.040]  Okay, well I'm having troubles here because you're jumping across a bunch of information
[01:41:32.040 --> 01:41:35.640]  and you're going to these things and I have no referential index form.
[01:41:35.640 --> 01:41:45.000]  I don't know why we got there, how we got there, what facts we needed in place to get
[01:41:45.000 --> 01:41:46.000]  to these.
[01:41:46.000 --> 01:41:50.920]  So I don't know, in looking at the facts, what would lead me to file one of these documents
[01:41:50.920 --> 01:41:56.160]  or the other or another of these documents, I have no idea.
[01:41:56.160 --> 01:41:59.000]  Right now, it's a conglomeration of different documents.
[01:41:59.000 --> 01:42:07.360]  Okay, I have been foreclosed on, I've had people, just last week, one guy walked into
[01:42:07.360 --> 01:42:11.160]  my house, the record shows he's been foreclosed on.
[01:42:11.160 --> 01:42:17.000]  Okay, they bought it at foreclosure, it was for $40,000.
[01:42:17.000 --> 01:42:18.760]  It went back to the truck.
[01:42:18.760 --> 01:42:24.360]  Okay, now wait a minute, you've just went to something completely different.
[01:42:24.360 --> 01:42:31.640]  This is, I'm trying to get this together, but you keep moving around, jumping over large
[01:42:31.640 --> 01:42:34.040]  swathes of information.
[01:42:34.040 --> 01:42:39.200]  How did we get from filing these documents with the IRS to your being foreclosed on last
[01:42:39.200 --> 01:42:40.200]  week?
[01:42:40.200 --> 01:42:44.880]  How does that follow from what we were talking about?
[01:42:44.880 --> 01:42:46.840]  It's just a negotiation point.
[01:42:46.840 --> 01:42:50.920]  It's like, I want my house back.
[01:42:50.920 --> 01:42:51.920]  Yeah.
[01:42:51.920 --> 01:42:55.200]  It's like, they want...
[01:42:55.200 --> 01:42:59.880]  Have you, is there a trust, is a trustee's deed filed in the record?
[01:42:59.880 --> 01:43:00.880]  Yes.
[01:43:00.880 --> 01:43:05.200]  Have you filed a trespass to try title action?
[01:43:05.200 --> 01:43:11.880]  No, because with this tax situation that's in the bankruptcy court, and that I'm going
[01:43:11.880 --> 01:43:19.240]  to file as proof of claim, they should take care of that, most likely, in my opinion.
[01:43:19.240 --> 01:43:26.080]  They will leave that feedback over to me, or they'll be paying thousands of dollars.
[01:43:26.080 --> 01:43:32.800]  Okay, one of the things you should file is the adversarial proceeding and name the trustee
[01:43:32.800 --> 01:43:36.400]  for improperly foreclosing on the property.
[01:43:36.400 --> 01:43:45.320]  The only time you can sue the trustee is when he fails to act in good faith, and once he's
[01:43:45.320 --> 01:43:51.360]  been given notice and proceeds anyway, now he runs afoul of his good faith protection.
[01:43:51.360 --> 01:43:56.760]  You should sue the trustee, and he may be able to pressure them into very quickly rescinding
[01:43:56.760 --> 01:43:57.760]  the foreclosure.
[01:43:57.760 --> 01:44:00.320]  Hang on, we'll be right back.
[01:44:00.320 --> 01:44:03.760]  You feel tired when talking about important topics like money and politics?
[01:44:03.760 --> 01:44:04.760]  Boring!
[01:44:04.760 --> 01:44:07.640]  Are you confused by words like the Constitution or the Federal Reserve?
[01:44:07.640 --> 01:44:08.640]  What?
[01:44:08.640 --> 01:44:12.480]  If so, you may be diagnosed with the deadliest disease known today, stupidity.
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[01:45:01.280 --> 01:45:04.440]  Are you the plaintiff or defendant in a lawsuit?
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[01:45:49.840 --> 01:45:56.600]  pro se tactics, and much more, please visit ruleoflawradio.com and click on the banner
[01:45:56.600 --> 01:45:59.600]  or call toll-free, 866-LAW-EZ.
[01:45:59.600 --> 01:46:23.160]  Well, you know, karma's lurking around the corner, you better watch your head, take a
[01:46:23.160 --> 01:46:38.600]  look around, and you'll see karma's lurking around the corner, come on, sing, Jerry, come
[01:46:38.600 --> 01:46:39.600]  on.
[01:46:39.600 --> 01:46:40.600]  As we sow, so shall we reap.
[01:46:40.600 --> 01:46:41.600]  The words of nutrition from so many fruits, the words get put on all of the seeds.
[01:46:41.600 --> 01:46:42.600]  Try as we will to learn small steps to the giant of our focus.
[01:46:42.600 --> 01:46:59.040]  Okay, we are back, Randy Kelton, ruleoflawradio, we're talking to John in Texas, John, send
[01:46:59.040 --> 01:47:05.600]  me that documentation and let me read it so that we can talk about this and we can follow
[01:47:05.600 --> 01:47:06.600]  along.
[01:47:06.600 --> 01:47:09.600]  I'm an engineer.
[01:47:09.600 --> 01:47:17.520]  All I can do is connect the dots together, and I've got too many dots, you see, so send
[01:47:17.520 --> 01:47:22.160]  that to me, let me go through it, and you have good information, I just can't get it
[01:47:22.160 --> 01:47:23.160]  stitched together.
[01:47:23.160 --> 01:47:24.160]  Okay.
[01:47:24.160 --> 01:47:30.160]  Okay, call us next week and give me that in time so I can look it over and kind of be
[01:47:30.160 --> 01:47:31.160]  up to speed.
[01:47:31.160 --> 01:47:32.160]  Okay.
[01:47:32.160 --> 01:47:35.160]  Okay, thank you, John.
[01:47:35.160 --> 01:47:38.360]  Okay, we're going to Leslie in Pennsylvania.
[01:47:38.360 --> 01:47:40.320]  Hello, Ms. Leslie.
[01:47:40.320 --> 01:47:46.000]  Hi, how did this week again?
[01:47:46.000 --> 01:47:51.160]  I think that John was referring to Credit River decision.
[01:47:51.160 --> 01:47:54.080]  Credit River, that sounds familiar.
[01:47:54.080 --> 01:48:01.760]  Yes, that's why you couldn't find it, it's Credit River.
[01:48:01.760 --> 01:48:04.360]  I think it's had a minister.
[01:48:04.360 --> 01:48:07.320]  Okay, well, he will apparently send me a link.
[01:48:07.320 --> 01:48:10.080]  Do you have a link to that?
[01:48:10.080 --> 01:48:13.840]  Yeah, I'll get it to you.
[01:48:13.840 --> 01:48:15.600]  I have a copy of it.
[01:48:15.600 --> 01:48:22.960]  Okay, yes, I was reading the South Carolina suit you sent to me.
[01:48:22.960 --> 01:48:25.320]  Yeah, that's interesting.
[01:48:25.320 --> 01:48:34.160]  We've got an order today from the appeals court, not today, but on the 2nd this week,
[01:48:34.160 --> 01:48:37.120]  on my quiet title.
[01:48:37.120 --> 01:48:43.160]  And what they decided to do is just address whether my husband was a necessary party.
[01:48:43.160 --> 01:48:49.120]  They said he was and that the case should be dismissed without prejudice.
[01:48:49.120 --> 01:48:58.320]  But they also said that the other rulings that the judge made were inappropriate because
[01:48:58.320 --> 01:49:01.920]  he had no jurisdiction to make any decision.
[01:49:01.920 --> 01:49:11.640]  That was what I saw when I read it, that the fact that a necessary party was not included,
[01:49:11.640 --> 01:49:15.040]  the court lacked subject matter jurisdiction.
[01:49:15.040 --> 01:49:27.120]  It actually made sense because this party may have had issues to address and the court
[01:49:27.120 --> 01:49:35.480]  can't pursue toward an adjudication denying someone else in their right to make their
[01:49:35.480 --> 01:49:39.000]  arguments.
[01:49:39.000 --> 01:49:44.520]  But that it went to subject matter jurisdiction, I found interesting.
[01:49:44.520 --> 01:49:51.160]  I would have thought that the judge would have been stopped from ruling, but not based
[01:49:51.160 --> 01:49:55.160]  on subject matter jurisdiction.
[01:49:55.160 --> 01:50:00.720]  And I understand the implications of that ruling.
[01:50:00.720 --> 01:50:10.080]  If the bank files an action and they don't include a necessary party, then you can sue
[01:50:10.080 --> 01:50:11.080]  the judge.
[01:50:11.080 --> 01:50:12.080]  Yes.
[01:50:12.080 --> 01:50:21.320]  Well, see, that's the thing, they filed foreclosure, but the real predator isn't in there.
[01:50:21.320 --> 01:50:23.320]  And that's exactly what I went after.
[01:50:23.320 --> 01:50:26.680]  I was like, hey, there's no jurisdiction here.
[01:50:26.680 --> 01:50:32.120]  But you should be in pretty good shape anyway, because you just refile.
[01:50:32.120 --> 01:50:36.280]  You've got all of their arguments already.
[01:50:36.280 --> 01:50:39.960]  You refile, include your husband's name on the document, because that's all it means
[01:50:39.960 --> 01:50:43.560]  is his name at the top.
[01:50:43.560 --> 01:50:46.760]  Refile it and you all really know how they're going to argue against you.
[01:50:46.760 --> 01:50:49.160]  So now you've got a better shot at them.
[01:50:49.160 --> 01:50:53.920]  Oh, I've got a whole lot better shot for several reasons.
[01:50:53.920 --> 01:50:58.160]  Number one, I have all the arguments of the original lender who claims they never assigned
[01:50:58.160 --> 01:51:01.160]  the mortgage to them.
[01:51:01.160 --> 01:51:05.040]  The one they recorded was never assigned by the original lender.
[01:51:05.040 --> 01:51:06.040]  And it says it is.
[01:51:06.040 --> 01:51:07.040]  That's a forgery.
[01:51:07.040 --> 01:51:08.040]  Okay.
[01:51:08.040 --> 01:51:09.040]  Right?
[01:51:09.040 --> 01:51:17.720]  Give me context for that again, so I can frame the issue better.
[01:51:17.720 --> 01:51:18.920]  Okay.
[01:51:18.920 --> 01:51:25.280]  And when they open the default judgment that I had, the original lender claims to have
[01:51:25.280 --> 01:51:28.640]  no interest in the mortgage at all.
[01:51:28.640 --> 01:51:29.640]  Okay.
[01:51:29.640 --> 01:51:30.640]  It says they opened.
[01:51:30.640 --> 01:51:31.640]  Who was they?
[01:51:31.640 --> 01:51:37.880]  A mortgage IT, the original lender.
[01:51:37.880 --> 01:51:38.880]  Okay.
[01:51:38.880 --> 01:51:41.840]  The original lender opened the...
[01:51:41.840 --> 01:51:42.840]  Okay.
[01:51:42.840 --> 01:51:52.120]  Let me understand the context of the original lender and why they said they had no interest.
[01:51:52.120 --> 01:51:53.120]  Who opened what?
[01:51:53.120 --> 01:51:55.560]  Because they were the only one I sued.
[01:51:55.560 --> 01:51:58.200]  I sued the original lender for client title.
[01:51:58.200 --> 01:52:00.880]  They were the only ones that had a recorded interest.
[01:52:00.880 --> 01:52:01.880]  Okay.
[01:52:01.880 --> 01:52:05.920]  So you sued them and they claimed they had no interest.
[01:52:05.920 --> 01:52:06.920]  Yes.
[01:52:06.920 --> 01:52:07.920]  Okay.
[01:52:07.920 --> 01:52:13.120]  How did the other party get in?
[01:52:13.120 --> 01:52:14.120]  Did they intervene?
[01:52:14.120 --> 01:52:15.120]  That's what I'm going to tell you.
[01:52:15.120 --> 01:52:19.320]  Then the day after the hearing, they created an assignment of mortgage and saying it was
[01:52:19.320 --> 01:52:24.040]  from the original lender to them, to the city.
[01:52:24.040 --> 01:52:32.240]  So this forerunner comes in and with a presbytery and says, oh, we're the new lender now.
[01:52:32.240 --> 01:52:36.240]  You can get rid of the other guy.
[01:52:36.240 --> 01:52:41.320]  And then I filed an amended complaint saying this is fraud on the court.
[01:52:41.320 --> 01:52:46.360]  This guy said on the 19th that they had no interest and the next day they assigned the
[01:52:46.360 --> 01:52:47.360]  mortgage.
[01:52:47.360 --> 01:52:52.800]  Then I got a response from the original lender that said we had nothing whatsoever to do
[01:52:52.800 --> 01:52:56.720]  with that assignment of mortgage created on December 20th.
[01:52:56.720 --> 01:53:06.120]  So why don't you look at filing another quiet title and filing a separate action against
[01:53:06.120 --> 01:53:17.000]  this intervener for improperly intervening in this other trial and perpetrating fraud
[01:53:17.000 --> 01:53:18.000]  on the court?
[01:53:18.000 --> 01:53:19.000]  I have two problems.
[01:53:19.000 --> 01:53:20.000]  Number one, right now we're in foreclosure.
[01:53:20.000 --> 01:53:31.480]  In Pennsylvania, if I file a quiet title, they will throw it in with a foreclosure.
[01:53:31.480 --> 01:53:37.240]  And I'm waiting for a motion to dismiss, to be adjudicated, it's called preliminary
[01:53:37.240 --> 01:53:38.240]  objection.
[01:53:38.240 --> 01:53:48.080]  What about the quiet title as to the assignment?
[01:53:48.080 --> 01:53:58.760]  That's the one you can essentially prove by collaterally the estaff of making this claim
[01:53:58.760 --> 01:54:05.080]  because of the pronouncement of the original lender saying he had nothing to do with this.
[01:54:05.080 --> 01:54:09.920]  So they can't come back later after he said that and say, well, he transferred the claim
[01:54:09.920 --> 01:54:18.600]  to us or the instrument to us because he's already said he can't.
[01:54:18.600 --> 01:54:19.600]  It's just better than that.
[01:54:19.600 --> 01:54:25.680]  I have a federal judge that made out the exact chain of title as he saw it based on all of
[01:54:25.680 --> 01:54:30.840]  the records that were obtained in the federal court hearing that we had.
[01:54:30.840 --> 01:54:35.200]  And he laid out that- Wait, hold on.
[01:54:35.200 --> 01:54:43.200]  You're saying you have chain of title as res judicata?
[01:54:43.200 --> 01:54:46.200]  Oh, wonderful.
[01:54:46.200 --> 01:54:53.120]  And are these guys included in that chain of title?
[01:54:53.120 --> 01:54:59.400]  Well, yeah, they were the first one, but now they're saying they just got it.
[01:54:59.400 --> 01:55:02.400]  So that's five years too late.
[01:55:02.400 --> 01:55:05.400]  That's forgery in Pennsylvania.
[01:55:05.400 --> 01:55:09.600]  So it's forgery through time.
[01:55:09.600 --> 01:55:15.680]  Not only that, it gets better yet because we had rescinded the mortgage in 2010 and
[01:55:15.680 --> 01:55:21.480]  nobody did anything about it and we just got the Justinowski decision down in January.
[01:55:21.480 --> 01:55:29.080]  When I file now, I got all kinds of stuff that I didn't have before.
[01:55:29.080 --> 01:55:36.160]  This is kind of good because they've already taken their best shot and now you can start
[01:55:36.160 --> 01:55:40.600]  this all over knowing what their strategy was.
[01:55:40.600 --> 01:55:44.120]  So you should have a good shot at that.
[01:55:44.120 --> 01:55:47.120]  And the climate is changing dramatically.
[01:55:47.120 --> 01:55:54.280]  Well, not only that, I'm preparing a re-code, you know, that re-code that I'm filing, that's
[01:55:54.280 --> 01:56:00.160]  why, because I have all of this proof and it's all in the public record.
[01:56:00.160 --> 01:56:01.160]  It's in all the courts.
[01:56:01.160 --> 01:56:06.960]  It's not something that I said they sent me something, they filed it in the courts.
[01:56:06.960 --> 01:56:07.960]  So now it's incontrovertible.
[01:56:07.960 --> 01:56:08.960]  Exactly.
[01:56:08.960 --> 01:56:20.000]  So I have a rule, never interfere with someone when they're screwing up.
[01:56:20.000 --> 01:56:30.960]  Well, that's what I figured, I'd wait until the dismissal came through and then I'll throw
[01:56:30.960 --> 01:56:31.960]  everything around.
[01:56:31.960 --> 01:56:34.280]  I'll start a whirlwind.
[01:56:34.280 --> 01:56:46.240]  You need to start, one of the concepts I've been looking at really close is what you actually
[01:56:46.240 --> 01:56:49.800]  know as opposed to what you think.
[01:56:49.800 --> 01:57:01.880]  When a person files a document with the court, he makes all of these statements and assertions.
[01:57:01.880 --> 01:57:05.000]  And I get people calling in and say, the bank did this and the bank did that.
[01:57:05.000 --> 01:57:12.440]  And I say, wait a minute, wait a minute, did the bank do that or did some human being state
[01:57:12.440 --> 01:57:19.400]  that the bank did that and signed this paper and filed it with the court.
[01:57:19.400 --> 01:57:23.720]  So all you really know is this human being made these statements and signed this paper
[01:57:23.720 --> 01:57:25.640]  and filed it with the court.
[01:57:25.640 --> 01:57:29.600]  That's the first guy to go after.
[01:57:29.600 --> 01:57:35.800]  We go after the bank when he proves up that he is a proper agent for the bank and that
[01:57:35.800 --> 01:57:42.960]  the bank did in fact direct him to do this or that he claims to be an agent for the holder
[01:57:42.960 --> 01:57:49.080]  once he proves up who the holder is and that that holder employed him.
[01:57:49.080 --> 01:57:54.720]  If he can't do that, then you get to take him on, you don't have to worry about the
[01:57:54.720 --> 01:57:55.720]  bank.
[01:57:55.720 --> 01:58:01.920]  And if you can start hammering these lawyers, it's going to get real hard for the bank to
[01:58:01.920 --> 01:58:02.920]  fight you.
[01:58:02.920 --> 01:58:03.920]  Did that make sense?
[01:58:03.920 --> 01:58:06.920]  I've got eight of them in the Rico suit.
[01:58:06.920 --> 01:58:07.920]  Yeah.
[01:58:07.920 --> 01:58:08.920]  Oh, you have him in there.
[01:58:08.920 --> 01:58:11.920]  Eight of them in the Rico suit.
[01:58:11.920 --> 01:58:20.960]  Oh, what would be the likelihood of getting a stay based on adjudication of the Rico suit?
[01:58:20.960 --> 01:58:25.520]  If you filed the Rico suit, could you go for a restraining order?
[01:58:25.520 --> 01:58:29.520]  Okay, hang on, Leslie, we're about to go to break.
[01:58:29.520 --> 01:58:34.040]  This is Randy Kelton, we have our radio, our call in number 512-646-1984.
[01:58:34.040 --> 01:58:38.640]  Give us a call, we'll keep the phones open all night.
[01:58:38.640 --> 01:58:50.400]  Shane, Thomas, see you there, we'll get to everybody, we'll be right back.
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