Truth in lending...

...many corporations have notoriously inflated their earnings reports - and not just Enron. Quite legitimately, and with the blessings of the accounting industry, companies exclude many big expense items from their operating statements and may include revenues that should be left out. Exclusions like employee stock option expenses can be huge. At the same time, including estimated earnings from future investments of pension plan assets is only an estimate, and cannot be called reliable. Standard & Poor's has devised a method for making adjustments to arrive at a company's core earnings. Those are the earnings from the primary business of the company, and anything reported should be recurring.

The adjustments aren't small. For example, in 2002,.... That year, the two largest core earnings adjustments were made by Citicorp ($13.7 billion in adjustments) and General Electric ($11.2 billion in adjustments). (GE Capital and Credit Cards?).

Quoted from "the Demise of the Dollar... and why it's great for your investments" by Addison Wiggin, John Wiley & Sons, Inc. 2005.

This is a must read for everyone.

Enjoy.

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Credit Card Agreements

Have you ever wondered how a credit card agreement can be valid when only one party can alter it without the consent of the other and only one party can cancel it without the consent of the other? And the other party has no options?

Enjoy.

Eliminate Credit Card Debt... Let me show you how to pay off all your credit card debt using the same money the bank used to fund your account! One Day I Woke Up and Found Myself $65,276 In Debt From Credit Cards... Now I'm Debt Free! You can be too - In two weeks or less!

Conspiracy

Today my wife received a solicitation from Chase for a credit card.

After talking about all the great things they were going to do for her, they got down to the real nitty gritty:

"Your account will not be in good standing if any loan or account with us or any other creditor is past due..."

Now, I ask you, what difference should it make to Chase if my wife pays her other accounts or not?

I can only think of two valid reasons for this stipulation:

1. It forces cardholders to pay other creditors even if they disagree with the charges or question something. Good for all creditors but very bad for all debtors.

2. It is a great way to raise a cardholder's interest rate and blame them for the action.

From my perspective, no matter how you look at it, it is a conspiracy, plain and simple.

Isn't there a federal law against this type of collusion?

Enjoy.

Eliminate Credit Card Debt... Let me show you how to pay off all your credit card debt using the same money the bank used to fund your account! One Day I Woke Up and Found Myself $65,276 In Debt From Credit Cards... Now I'm Debt Free! You can be too - In two weeks or less!

Funny Money III

Did you know that back in the 1960's, the president of a national bank testified, under oath, that banks don't really lend money... and that they have no legal authority to do what they currently do? That is, create money out of thin air:

"Mr. Morgan admitted that all of the money or credit which was used as a consideration was created upon their books that this was standard banking practice exercised by their bank in combination with the Federal Reserve Bank of Minneapolis, another private Bank, further that he knew of no United States Statute or Law that gave Plaintiff the authority to do this." Quoted from the courts decision in First National Bank of Montgomery v. Jerome Daly, December 9, 1968.

Just imagine, every time you make that credit card or loan payment you are making a payment for a loan that was made illegally and was funded by you. And, as an added incentive, they charge you interest.

Are bankers just real smart businessmen or are we just real stupid borrowers?

Enjoy.

Eliminate Credit Card Debt... Let me show you how to pay off all your credit card debt using the same money the bank used to fund your account! One Day I Woke Up and Found Myself $65,276 In Debt From Credit Cards... Now I'm Debt Free! You can be too - In two weeks or less!

Funny Money II

Don't believe Modern Money Mechanics?

Give this a try...

"With an original deposit of $5,000 and just three transactions, three banks got $13,550 in New Deposits and made $12,195 in loans. A lot of money is created when the banks, credit unions, and savings and loans in the United States get involved." The Story of Banks, Federal Reserve Bank of New York, page 10.

"That is, the Fed buys securities with money it creates, money that didn't exist before. The bank, in turn credits the seller's account." The Story of Monetary Policy, Federal Reserve Bank of New York, page 11.

Banks would never lie to you, would they?

Eliminate Credit Card Debt... Let me show you how to pay off all your credit card debt using the same money the bank used to fund your account! One Day I Woke Up and Found Myself $65,276 In Debt From Credit Cards... Now I'm Debt Free! You can be too - In two weeks or less!

Funny Money

Did you know that banks don't really lend money?

Here's what the Federal Reserve Bank of Chicago has to say on the topic:

"If business is active, the banks with excess reserves probably will have opportunities to loan the $9,000. Of course, they do not really pay out loans from the money they receive as deposits. If they did this, no additional money would be created. What they do when they make loans is to accept promissory notes in exchange for credits to the borrowers' transaction accounts."

"Loans are made by crediting the borrower's deposit account, i.e., by creating additional deposit money."

Now you know what causes inflation. It isn't that prices go up! It is that the value of Federal Reserve Notes goes down.

Not only is this theft by fraud, it is hiden taxation.

Don't you just love honest government?

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How to eliminate credit card debt

If you are having credit card problems, that is, to much debt and not enough income, you need to visit HowToGetRidOf.com

Jim

Eliminate Credit Card Debt... Let me show you how to pay off all your credit card debt using the same money the bank used to fund your account! One Day I Woke Up and Found Myself $65,276 In Debt From Credit Cards... Now I'm Debt Free! You can be too - In two weeks or less!