Through TRUTH we Will Create a Better World Together. There is no real division of left or right, religions, or anything else, it was all created to keep us separated. Coming together as ONE in Truth we are the Power! We CAN and WILL create the world as it is meant to be through Truth of What is and Ourselves! In Truth We Stand!
I don't normally go off, as I did in that post. In fact I was livid for days and I called our elected officials and let them know I was one pissed off person. I asked people to call their elected officials and Ron Paul. I don't know if many did. But one thing for sure, if there was going to be a revolt, it might have started in July over this right and laws changing.
The Federal Reserve announced today, they will not be changing the laws after all, come July. OH My, isn't that nice of them. That announcement should not have come from the Federal Reserve, that announcement should have come from our elected officials! Why do I say that? Because they should have taken a stand for the American people and also said " A private bank, can not change the laws we have put in place to protect the American public". Our elected officials should have ripped any rights the Federal Reserve had to even change our laws.
At this point they are saying the Federal Reserve is saying they won't modify the rights of the American people, but who is to say, they won't do it at some point in the future?
If the law had changed, that would have meant, banks could literally get away with any fraud they wanted to. That would mean, you could sign a TILA (truth in lending) at closing saying you will be getting a 2 percent loan and the bank could actually change it to a 10% loan the next week and there would have been nothing you could do about it, unless you paid the bank in full for the amount of the loan before you could sue them!
How outrageous is that? But is even more outrageous in my opinion, is our elected officials were going to let the Federal Reserve - A Private Bank - do that to the American People!
So, yes, we can be thankful that we won't have fraud committed in every which way to us by the banks, come July. But can we still be thankful that a private bank has that power in being able to change the rights of the American people?
I had been feeling the urgent need to get people to sue the banks for foreclosure fraud before July, at least that urgency has now been lifted. Yet, it should never have been placed there in the first place. We should never have had the worry that a right of the American public, against any type fraud from banks was possibly going to be taken away.
So, where are our elected officials in this? I never heard a word or statement of outrage from one official, including Ron Paul regarding the changing our TILA rights, that was going to be in place in July.
I still say, we need to keep asking our elected officials to take away ANY power the Federal Reserve has to change any of the U.S. laws and rights! I will keep saying over and over again - The Federal Reserve is a private bank. They are a corporate entity, who was given the right to print money for the United States with the Federal Reserve act of 1913. Our paper money says "Federal Reserve Note" on it - our coins are actually U.S. treasury money. But no corporate entity should have any power to change anything about our laws on their own.
I am not fooling myself either, I know Congress and the Senate change the laws constantly for private corporations and banks, but they still have to try and justify the laws, to those who elected them. A private corporation is not elected nor do they have to answer to the public.
I am breathing a sigh of relief, but I believe we need for our elected officials to answer to the fact they did not stand up to this change and they gave the power to a private entity to make a change it in the first place.
The Federal Reserve Board of Governors confirmed Tuesday that it will not proceed with plans to gut a principal federal remedy for predatory lending.
"The Board has determined that proceeding with the 2009 and 2010 proposals would not be in the public interest," the Fed said in a press release. "Accordingly, the Board does not expect to finalize the August 2009 and September 2010 proposals prior to the July 2011 date for transfer of rulemaking authority to the CFPB."
The Fed is officially backing down from its proposal to eliminate rescission, a critical component of consumer-protection law that strips banks of the right to make money on illegal loans.
I would like to know, WHY the govt. - our elected officials even gave control over the banks and the people and their rights to a NON GOVERNMENT Entity - Which is what the Federal Reserve is! THE FEDERAL RESERVE IS A PRIVATE BANK - NOT A GOVERNMENT ENTITY OF THE UNITED STATES!
First you need to understand that, to understand why they could not give a flying F**k about the people! So, why would our elected officials who are suppose to watch out over you and me, give them the control over our rights against the banks?!
When will this stop?!
If there was ever a call to action - IT IS NOW!
WE CAN NOT HAVE OUR RIGHTS AS U.S. CITIZENS AND OUR LAWS GIVING US OUR RIGHTS BE TRAMPLED AND OVER TURNED BY THE FEDERAL RESERVE - A PRIVATE BANK!
The Federal Reserve plans on making sure, if anyone wants to sue a bank for FRAUD they have to pay IN FULL the mortgage amount before they can sue! WTF?????!!!!!! In other words - if you don't have the full amount of money for your mortgage you CAN NOT SUE! How the F**K are our elected officials allowing this?!
Oh, The Federal Reserve says it is hurting the economy, by people suing the banks! What a F**king Unbelievable statement - in other words the banks can commit FRAUD all they want on people!
You do realize after this takes affect - The Banks will screw EVERYONE left and right - they will not have to be accountable to any loans or Fraud they commit EVER!
Portion of article:
The Federal Reserve is moving ahead with plans to change the right-of-rescission rule as part of the Truth in Lending Act (TILA) despite intense outcry from consumer advocates, civil rights groups, and top members of the Senate Banking Committee.
Revised TILA will require borrowers to repay a mortgage in full before a loan is rescinded. Consumer groups say the measure is designed to prevent homeowners from using the right-of-rescission protection as a defense against improper foreclosure.
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The Fed’s proposal is designed to ward off frivolous lawsuits that will delay foreclosures and have an adverse impact on economic recovery by ensuring “a clearer and more equitable process for resolving rescission claims” that closely mirrors present court requirements. The central bank wants to lift what it views as undue compliance burdens and litigation risk for creditors.
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The Truth in Lending Act was passed in 1968, giving homeowners the right to rescind, or cancel illegal loans for up to three years after closing the transaction when borrowers are not provided with requisite disclosures at settlement.
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Foreclosure attorneys have used the rescission clause to help homeowners in numerous cases involving predatory lending where faulty and fraudulent disclosures were key pieces of evidence.
It is when I am seeing red - I use foul language and right now - I am seeing red more than ever! If there was ever a moment in time, where it is proven the banks have control over our government and our lives and it is being shown they are bankrupting all Americans, it is now!
Considering the Federal Reserve will continue to dump money in the laps of banks and the bankers walk away with billions in bonuses every year, but as of yesterday the Federal Reserve has said it will NOT HELP States in bailing them out. What does that mean? States may have to stop paying people their pensions! So in other words the Federal Reserve will NOT HELP you and me in any way shape or form!
THIS IS WHAT WE GET FOR ALLOWING CORRUPTION AND NOT PAYING ATTENTION TO WASHINGTON OFFICIALS FOR DECADES! WE GET THIS FOR LETTING THEM LIE TO US OVER AND OVER AGAIN AND BELIEVING THEM AND THE MEDIA! We will have NO protection from the banks in any way come July 11th 2011!
What Really Happened inserted this video in regards to this article! I am now inserting it here! Thanks Michael for bringing this video out and to our attention!
I feel we HAVE TO DO SOMETHING! Even though our elected officials have not paid attention to our voices before! WE HAVE TO CALL THEM AND LET THEM KNOW OUR OUTRAGE AT THIS! THEY HAVE TO STOP THE FEDERAL RESERVE FROM TAKING OUR RIGHTS OF SUING THE BANKS DUE TO FRAUD! Every time I think, nothing else will shock me about what outrageous things are going on...... I get shocked over and over again on how our government is allowing Private industry and banks to rule the people and laws!
EDIT - HERE IS RON PAUL'S D.C. PHONE NUMBER: 202-225-2831
WE ALL NEED TO CALL IT AND CALL YOUR LOCAL CONGRESS AND SENATOR
LET THEM KNOW THIS IS UNACCEPTABLE FOR THE FEDERAL RESERVE TO CHANGE THE RIGHTS AND LAWS OF THE AMERICAN PEOPLE! WE DID NOT VOTE FOR THE FED - THE FEDERAL RESERVE IS A PRIVATE COMPANY/BANK - THAT IS NOT OWNED BY AMERICANS, BUT BY FOREIGNERS! THEY HAVE NO RIGHT TO TAKE AWAY LAWS PLACED TO PROTECT THE AMERICAN PEOPLE AGAINST THE FRAUD OF BANKERS!
ANOTHER EDIT - I called Ron Paul's office, the woman who answered said "Ron Paul, is aware of the TILA changes by the Federal Reserve". I asked what is he doing about it? She transferred me to a voice mail to leave a message to speak to someone about it. I left a message basically saying exactly what is above! IT IS UNACCEPTABLE A PRIVATE BANK CAN CHANGE THE LAWS AND RIGHTS FOR THE AMERICAN PEOPLE! OUR ELECTED OFFICIALS HAVE TO STOP IT! I said, I have a blog and posted this phone number for everyone to call and I will look forward to putting what Ron Paul is doing about this situation! If I hear anything back, I will immediately post it!
Another Edit - I have called my elected officials and let them know they can not allow a private bank to change our laws and rights. The people who answer say "they will pass my concern along"! Guess I won't be holding my breath about it!
We can not allow our sovereignty to be completely handed over to a foreign entity! It can not be allowed! We must stand up against this! We need to hold our elected officials accountable to giving our rights and laws away to a bank in full public view! We are no longer a sovereign nation upon allowing the Federal Reserve to control our laws and rights! This was not the left or right who did it, it was ALL of them who did it! They are ALL under control of the banks and corporations including foreign ones! We are no longer a nation of "For the People and By the People"! Only if we stand up and raise our voices so loud that they can not be ignored, will we get our rights and government back!
Unsurprisingly, banks support the move, but consumer advocates say this would essentially make rescission worthless to borrowers.
"The ... proposal would eviscerate the single most effective tool that homeowners have to stop foreclosures and avoid predatory loans," reads a letter penned by Margot Saunders of the National Consumer Law Center and signed by 16 national public interest groups, along with 33 state housing and legal aid groups and 144 individual attorneys. "Passage of the proposed rule will considerably exacerbate foreclosure statistics in this nation."
According to the Center for Responsible Lending, 2.5 million homes were lost to foreclosure between January 2007 and the end of 2009, and another 5.7 million stand in "imminent" danger of foreclosure today.
"I view this as nothing less than a criminal ploy to shove hard working Americans out of their homes and onto the streets," wrote Ann Capotosto in an undated comment letter. "It is immoral and must be stopped."
"Think of mankind for once, please," requested Larissa Cavanaugh in a Dec. 4 letter.
"Have you lost your minds?" inquired Beth Findsen in another letter from Dec. 4. "In the depths of an unprecedented catastrophe for the middle class, related to the predatory loans and their rapacious securitization by the financial industry, resulting in millions of middle class Americans losing all of their wealth and their homes, you want to loosen TILA? Are you tone deaf? Have you lost your humanity entirely?"
