Definition: Mortgage - (french) Death Note Or, you will pay until you are dead.

Why do we allow such things to exist? Well, the FED is still standing, although those mostly peaceful protesters burnt down several banks. So i guess people just do not know how evil the system is... yet.

How do we get rid of mortgages?

Pay them all off

I once had an idea, that if we got a bunch of people together and agreed to pay off everyone's mortgage. Everyone pays an extra $100 a month, and continue to pay us their mortgage payment amount, and with this money we start paying off mortgages one after the other.

I computed that it was less than 7 years for 1000 people to pay off everyone's mortgage. It really snowballs after year 3, paying off houses left and right.

The only problem with this is people taking advantage of the system and ceasing payment before all houses are paid off.

It could work if we started a bank and purchased all the loans.

Or, maybe if we created a DAO

Well, mathematically it is very simple. Legally it is very complex, and it would take a hellava good salesman to get it going. But, soon after, all the mortgages would be paid off. And then all the big banks would be calling for legislation to stop that type of co-op

Have all the banks fail

We are on the precipice where bank failures will become a common occurrence. All planned to move all the people from small banks to the big banks to the CBDC.

As we head into the Greater Depression less people will qualify for mortgages and less banks will be able to give mortgages and thus mortgages will become things your parents used to do, back in the old days.

Everyone stop paying all at once

We could all learn that the bank never gave anything. They made the money out of thin air, and charged you twice for it. A really corrupt system, and against contract law.

In a contract, each party offers something. Since the bank never offered anything, the contract is null and void. (And yes, there is a person who went to court and proved this and got the mortgage cancelled)

How things really work:

1. The sellers GIVES the bank the house
2. The bank, now owning a house (an asset) is able to make currency (a debit) on their balance sheet.
3. The mortgagee gives the bank a promissory note for the price of the house
4. The bank gives the mortgagee the money
5. The mortgagee gives the money to the seller.

(as you can see, the bank gets a house and a promissory note equal to the value of the house. The bank got paid twice. And then you give them money for the rest of your life, a third time)

It would be appropriate for all of us to stand up and say, "NO MORE", and tell the banks to bugger off.

We stop putting the burden on the newest members of society.

The kid reached 18, kick them out and have them make it on their own.

This was sorta ok back in the 50s, but now the price of house to earnings ratio has gotten 10x higher. The prices of apartments are not what your average, minimum wage earning teenager can afford. Young families just starting out are priced out of the market.

Of course this was by design. The banks offering bigger and bigger mortgages as time went on. The house price being a function of how big of a mortgage a person could get.

But, this is a really weird system. We are asking the least capable person (the teenager just starting out) to OUTBID all previous people for a piece of property.

Instead, as a community we should be working on getting them a piece of property for them to start with when the reach the age of majority. We should welcome the new member of our community by making a space for them, not pushing them out of the nest (during the worst blizzard ever) and saying fly on your own, and if you fail don't come robbing our stuff, just die in the streets like a good "member of our community"

So we should be making a place for these people in our community. The ones most capable of affording this, those with the most experience (just before retirement) and their children out of the house, should really find a way to make a space in their community. Have plots of land purchased and set aside for children growing up now.

However, we do not think this way.

Mortgages are one of the worst financial instruments ever created. An evil on our planet.

We must put a stop to this practice.

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...." - Thomas Jefferson

All images in this post are my own original creations.