Under fair use.
For nonprofit research and educational purposes only.
LOAN SCAM MATRIX
Which journal entry occurred -- 8a or 8b?
|VALUE = TITLE
Explanation of key transactions and their corresponding journal entries:
1: A deposit of $100 into a checking account
2: A donation of $100 to Lender, or a theft of $100 by Lender
3: Owner invests $100 to capital
4: A profit of $100 is put into retained earnings
5: Borrower receives $100 cash from Lender's Net Worth
6: Lender owns Borrower's $100 Promissory Note
7: Required for Federally insured loans, yet OMITTED from Loan Agreement. Where is deposit slip & bank statement?
8a: Where is the authorized signature for the withdrawal of these funds from the "Borrower's transaction account" (BTA)?
8b: This is the "Due Consideration" that is required for Owner to be the "Holder in Due Course" of promissory note.
9. This indicates that the Owner is the "Holder in Due Course" of promissory note per the terms of the Loan Agreement.
10: A deposit of $100 check into a checking account
11: A withdrawal of $100 cash from checking account
VALUE = TITLE means all things of value on the accounting books are owned (by Title) by someone - either by Others or by the Owner.
"...they... accept promissory notes... for credits to the borrowers' transaction accounts.", and "A deposit created through lending is a debt...to be paid on demand..." (Federal Reserve publications "Modern Money Mechanics", p. 6; "Two Faces of Debt", p. 19)
Please help me keep this site up, consider joining my Preservation of Wealth team.
At cost pricing of Bullion Coins.