some other dude
New member
I'm still waiting for him to loan me money. :idunno:
toldailytopic: Obama is asking to spend another 1.2 trillion $$, where does all this
- Thread starter Nathon Detroit
- Start date
I'm still waiting for him to loan me money. :idunno:
:chuckle:
some other dude
New member
I borrow 12 grand at six percent interest to buy a car.
I buy the car.
The dealer gets 12 grand from the bank.
Over the next year, as per my agreement with the bank, I repay the loan with interest, $1060 each month.
At the end of the year, I've paid $12,720 for a car I've been driving all year and now own.
Explain to me how I am literally being robbed.
Or perhaps you can show me where I can rent a car for $60 a month. :idunno:
elohiym
Well-known member
As soon as I could "loan" you the "money" exactly as banks do, I would gladly loan you the money, even at 0% interest, as long as you have a good credit score and collateral.
elohiym
Well-known member
How much did the bank have to loan you first in order to purchase your promissory note?
Do they own your promissory note before they give you the "loan money?"
some other dude
New member
I borrow 12 grand at six percent interest to buy a car.
I buy the car.
The dealer gets 12 grand from the bank.
Over the next year, as per my agreement with the bank, I repay the loan with interest, $1060 each month.
At the end of the year, I've paid $12,720 for a car I've been driving all year and now own.
Explain to me how I am literally being robbed.
Or perhaps you can show me where I can rent a car for $60 a month.
I buy the car.
The dealer gets 12 grand from the bank.
Over the next year, as per my agreement with the bank, I repay the loan with interest, $1060 each month.
At the end of the year, I've paid $12,720 for a car I've been driving all year and now own.
Explain to me how I am literally being robbed.
Or perhaps you can show me where I can rent a car for $60 a month.
elohiym
Well-known member
I am.
How much did the bank have to loan you first in order to purchase your promissory note?
Do they own your promissory note before they give you the "loan money?"
If the questions are beyond your comprehension, then just say so.
some other dude
New member
Asking questions is not explaining.
elohiym
Well-known member
I prefer a dialectic approach. You want to be lectured to. Fine.
The bank had no money to loan you. Your promissory note was fraudulently converted and used to expand deposits. The bank's assets and liabilities both increased proving the fraudulent conversion under GAAP.
Do you understand?
some other dude
New member
So what?
I rented a car for twelve months at $60/month.
And at the end of that period, I had bought a $12,000 car.
In what way was I robbed?
I rented a car for twelve months at $60/month.
And at the end of that period, I had bought a $12,000 car.
In what way was I robbed?
elohiym
Well-known member
I already told you--fraudulent conversion of your promissory note.
some other dude
New member
End of the year, I'm out 12,720 and I own the car and I've driven it for a year.
What do I care about the promissory note?
What do I care about the promissory note?
elohiym
Well-known member
You have my explanation.
some other dude
New member
I still don't see where I was robbed. :idunno:
C'mon elo - if you can't explain it better than that, you must not understand it yourself.
C'mon elo - if you can't explain it better than that, you must not understand it yourself.
elohiym
Well-known member
some other dude
New member
Well, I don't like it, but I think you're not very good at explaining things.
Pretty good at making unsupportable statements though. :thumb:
Pretty good at making unsupportable statements though. :thumb:
elohiym
Well-known member
Then you explain how deposit expansion works.
Make sure your claims are supportable. :thumb:
elohiym
Well-known member
The following video will provide you with a sufficient understanding of the problem; but you will have to know how banks extend credit through deposit expansion, and have some knowledge of legal terms and principles, and know some Generally Accepted Accounting Principles, to understand how the bank fraudulently converted your promissory note when it made you an alleged "loan" and why that matters.
| The Secrets of Oz | |
some other dude
New member
I own the car and I've driven it for a year for $60/month.
What do I care about deposit expansion?
I own a $12,000 car. I've paid $12,720 so I wouldn't have to wait a year to buy it with cash.
What was I robbed of?
elohiym
Well-known member
If you have a "loan" for the car, the bank holds the title.
You don't care where the 1.2 trillion being discussed in this thread came from? :doh:
If you received an alleged "loan" for the car, the bank fraudulently converted your promissory note.