Equity, Fake Money and Exchanges

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Re: Equity, Fake Money and Exchanges

Postby bustthematrix » Tue Nov 24, 2009 6:47 pm

the_common_law_reverend_kenny wrote: car loans and mortgages are different types of equity, do you know what I mean?

:peace:

I don't know what you mean Rev so this is your cue...
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Re: Equity, Fake Money and Exchanges

Postby bustthematrix » Tue Nov 24, 2009 7:01 pm

huntingross wrote:I've maybe missed the point of your question....but D doesn't give a toss because they've been paid £20,000 ones and zeros to offset their outlay for the car in the first place.

The bank has pawned your Promise to Pay and fractionalised it for 10x its face value.


HR, you're right, D doesn't give a toss and B bank is phenomenally greedy.

The main loser is Mr A who 'loses' £20,000 + interest in the form of 'real' cash (or labour value, however you quantify it) PLUS he loses in that car C is constantly losing value through depreciation. But then it could be the other way round e.g. if it was land or property and was instead appreciating (but that's a sideline).

The real point is, is it equitable for Mr A to 'cancel' the debt and still keep car C? Or does it depend on whether he gets his repayments back from B bank? If he does is it a no and if he doesn't a yes?

It's not as simple as it seems - yes, B bank is committing a fraud BUT if Mr A gets to expose that fraud and get the 'debt' cancelled + his repayments back + costs and MAYBE even damages on top, is it equitable for him to 'keep the goods'.

As I write, I find I'm leaning towards yes on this (not just because this is the more favourable outcome for most regular folk) but because Dealer D would no longer be interested (unless a crook) and B Bank has no interest (unless they are mega-phenomenal crooks), so yes perhaps it's totally equitable for Mr A to keep the goods!
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Re: Equity, Fake Money and Exchanges

Postby huntingross » Tue Nov 24, 2009 7:05 pm

I think A should keep the car for much the same reasons btm.....

A honoured his contract, when fraud is exposed why should A be impoverished as a consequence.....
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Re: Equity, Fake Money and Exchanges

Postby the_common_law_reverend_kenny » Tue Nov 24, 2009 7:18 pm

bustthematrix wrote:How interesting....you muppets have run away with my thread topic though! :grin:

:rotfl: ,,oops...


equity...

what I meant that a car loan is not secured on your property ( or it is secured on the car) - better to say that the car could be construed as the consideration from the other party. ( its always their car, except if maybe you have paid passed a certain level, then you can argue it's now your car) but if you give the car back - they are really screwed if you know what to do - (generally they retain ownership though)

a mortgage - (there really is no consideration from the bank other than to provide the 'service' --- the land charge secures the banks part in it all, but the bank really never brought anything to the table ( the house belongs to whoever is on the deeds/registry)

The bank argue that they bought the house for you and now you pay them back, fair enough, i say, the please provide proof that that is what happened. No they say. They say that because the land charge is all the proof they need in front of a judge (even though the bank say they bought the house , with their money -they can never be seen as the owner for other liability and tax reasons) - (in a mortgage you are the owner)

do you know what I mean?

:peace:
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Re: Equity, Fake Money and Exchanges

Postby bustthematrix » Tue Nov 24, 2009 7:29 pm

Dear Rev...I see what thou meanest...

What I don't see is how it pertains to my original conundrum... :puzz:
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Re: Equity, Fake Money and Exchanges

Postby the_common_law_reverend_kenny » Tue Nov 24, 2009 10:08 pm

lol .... in that case

I suppose the real question is, who’s to blame for all this? The government (us) who maintain the system, the bankers who simply operate within the system (assuming they’re not part of the fraud) or who?


I think we should all shoulder the blame in our little way...or...we are to blame as they are or...there can be no master without a slave..both are to 'blame' ( not that I'm judging a brother of course) :phew:

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Re: Equity, Fake Money and Exchanges

Postby bustthematrix » Wed Nov 25, 2009 2:42 pm

huntingross wrote:I think A should keep the car for much the same reasons btm.....

A honoured his contract, when fraud is exposed why should A be impoverished as a consequence.....


HG: How is Mr A 'impoverished' by giving back the goods when he's getting back all his repayments + costs + damages?
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Re: Equity, Fake Money and Exchanges

Postby bustthematrix » Wed Nov 25, 2009 2:48 pm

the_common_law_reverend_kenny wrote:I think we should all shoulder the blame in our little way...or...we are to blame as they are or...there can be no master without a slave..both are to 'blame' ( not that I'm judging a brother of course) :phew:
:peace:


I think ultimately it comes down to the government. At the highest level and at the core, they know what's going on.
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Re: Equity, Fake Money and Exchanges

Postby the_common_law_reverend_kenny » Wed Nov 25, 2009 10:59 pm

bustthematrix wrote:
the_common_law_reverend_kenny wrote:I think we should all shoulder the blame in our little way...or...we are to blame as they are or...there can be no master without a slave..both are to 'blame' ( not that I'm judging a brother of course) :phew:
:peace:


I think ultimately it comes down to the government. At the highest level and at the core, they know what's going on.


mmm...well...on a technicality of course... :geek: /btm/

We all know what's going on...?

The government is made up of people...?

You and me are people...?

verily I say unto theeee...
there can be no master without a slave


I think ultimately it comes down to us personally.

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Re: Equity, Fake Money and Exchanges

Postby bustthematrix » Fri Nov 27, 2009 10:40 am

It always does doesn't it!
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