Republicans Work Toward Debt Enslavement

Its not just the democrats that are acting to enslave the American public in debt.

The republicans have put forth a measure that allows courts to force people to pay their mortgages if they have the means to pay.

www.zerohedge.com…

While this may sound like a good thing, it is decidedly not.

If a borrower refuses to pay their mortgage, the banks get the house.  The house IS THE COLLATERAL on the loan.  What the banks are asking for is to forgo the house in lieu of the forced servitude of the borrower.

The risk of lending in this case must lie entirely with the lender.  If the lender did not feel the home was worth the amount of the loan, they never should have made the loan in the first place.  The banks are using republicans to push through a law that now makes the lenders labor the collateral on the loan rather than the house.

Having a person strategically default on a lender is a risk the lender must bear in the lending process. This is especially true considering the banks aren’t even lending with real money in a fractional reserve system.

You see because the banks have offered no lawful consideration (by my standards at least) in the loan transaction, which they created out of thin air by entering numbers into a bank account, they have no right to use the power of government against the people they lent the money to.

It is also important to note that the banks have used the power of government to pay themselves with tax payer dollars for those mortgages that have defaulted.

Thus, since the tax payers have already paid for the mortgages with their tax dollars, the banks have no right to use the power of government to enslave their debtors.

In a free country, no person should be forced at the point of a government gun to pay back debts owned to a fiat fractional reserve lender of debt.

It is the criminal fiat bankers responsibility to assume the risk of a borrower defaulting.