In 1996, I received one of those, “Here’s $3,500 (USD) for a Happy Christmas .... just sign the back of this check”, where it outlined how much I would pay over whatever period of time I took to repay this alleged loan if indeed I cashed the cheque. I loved it. I mozied over to my bank, endorsed the cheque and was handed $3,500 FRNs. They were right; I did have a happy Christmas that year. When they sent me a statement about a month later, trying to collect something from me which not only didn’t exist but also didn’t cost them anything other than postage and printing, I requested proof of their loss. They were flummoxed. They didn’t lend me anything. Understand that banks do not ‘qualify’ you in order not to lose $$$, they ‘qualify’ you in order to gain $$$; they don’t want to lend to educated customers. They can’t lose anything they never lent. I hear where your ego just took you ... ‘well, you got something for nothing’. No, I didn’t; I sold my signature for $3,500 – a good price back in 1996. All I got was $3,500 in debt notes. Since then, I’ve done the math. My signature is now worth 15 billion dollars (CAD). Then they got really jumpy and sent me threatening letters. I asked that they show me their loss. What loss could they possibly have sustained? Is my bank out any $$$? No, its books are balanced since they were electronically credited by the ‘other’ bank (there’s only one bank). Is the other bank out any $$$? No, the returned cheque with my signature was their credit. So their books were balanced. Were my books balanced? Of course! My debit was my signature and my credit was the cash. It is all just bookkeeping entries. Who owes what to anyone? The transactions are complete. It was simply an exchange of debit/ credit. Why would I give them anything more than what I already gave them – my signature, which is by the way, by far more valuable than $3,500 because they will lend funds against my signature many times, earning them, depending upon the rate of interest, an unlimited number of times that amount. This is called ‘fractional banking’ and their not apprising me of this is called ‘bank fraud’. So in fact I did them a huge favour by selling them my signature. They informed me that I had not ‘repaid my loan’. This is called ‘double billing’. ‘Double billing’ is fraudulent.
Posted on: Wed, 26 Jun 2013 00:45:28 +0000
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