Banks have 2 sides to their bookkeeping. ASSET and LIABILITY and banks have two sets of accounting books under the double-entry bookkeeping GAAP, but choose to show only one to the government or private auditors. This is a fraud upon the American people!
When a bank receives a signed loan application from you (a signed Promissory Note and Contract Application document), if it was truly a “LOAN” under “LAW” then they would lend directly to you to pay the item amount stated and then enter it upon their ledger as a LIABILITY to themselves; until such time as the LIABILITY was repaid.
Remember Banks cannot lend their own assets, money or depositors’ money to you as a loan pursuant to Banking Laws so Banks must borrow the money for your loan from a larger bank or Investor Trust as a “Warehouse” line of credit loan; thus making the Lender or Bank the actual DEBTOR. When you sign your funding signature, you are creating money if you are a Registered Private Banker through PBNBA.com and Cancel1mortgage.info, you are the CREDITOR!
When you deposit, say, $100 dollars into your bank account which is your loan to the bank, the bank enters it as an ASSET on one side of their bookkeeping. On the other side of their two book ledgers, it is entered as a LIABILITY – because they are “liable” to YOU for that $100 dollars.
So today, while they continue to operate under the UCC, when the bank places your signed loan application (Your signed Promissory Note) into an account with your all Caps NAME on it, it is then entered upon their books as an ASSET to the bank on one side – while at the very same time it is entered into their ledger as a LIABILITY to them on the other side because Debits MUST EQUAL Credits.
This also includes a LIABILITY to you for INTEREST on the amount. This means that when you are paying on the principal amount of the loan, you are actually paying them interest money that is not even owed to them.
Furthermore, as you pay them “Interest” on the amount, you are really actually paying off the “Interest Liability” that THEY are LIABLE for to YOU and actually OWE to YOU!
Because it being an ASSET based upon YOUR funding or depositing signature makes THEM liable to YOU for that $100.00 (your) asset!
The bank exchanges your funding signature Promissory Note for FRN fiat cash, then indirectly supplies you with that cash, then charges you to begin repaying the amount – along with interest on the amount – for what they call a “loan!” When in all actuality it was NOT a loan at all; but, rather, an “exchange”!
Under the law, they are just as liable to “YOU” for interest on the same amount – because “YOU” are the one that “THEY”, the bank, have BORROWED the money from.
And the SAME basically applies to traffic tickets! That $75 dollar traffic ticket gets sold as a Promissory Note (ASSET), to the Federal Private Reserve, which then converts it into a bond, from there it is then further converted into cash and sold to investors worldwide.
You are then held accountable for the liability side of it all (The side of which THEY are supposed to be LIABLE to YOU!). All of this because you are NOT SECURE in your Title/Status.
Therefore, you have NO LAWFUL Title/Status. Because you have NO Title. Until such time as YOU make CLAIM to and take the appropriate steps to SECURE Your Title, you will continue to be subject to commercial liens based upon YOUR OWN Signature. https://StrawmanMoneyCredit.com and here at Cancel1Mortgage info can help with this.
That is, you will continue to be subject to DEBT based upon YOUR OWN Signature. Because your “Title” is within the public domain. Until such time as you take it out of the PUBLIC domain and SECURE it into the “PRIVATE” domain! When you SECURE your TITLE into the PRIVATE domain, you also SECURE your Title STATUS under the Private domain.
You’ve then reserved your “Title and Status” as that of a “private” status that enables you to enter into contracts under a completely different STATUS than that of DEBTOR, which is one without Secured Rights. You then have a lawful remedy available to hold one or any bank accountable for any type of Trespass against your “Title and Status”. Think about it..
The post 2 sides of Bank Accounting Bookkeeping appeared first on Cancel Your Mortgage With The CAP Financial Security Instrument NOW! – PAY OFF Your MORTGAGE or any Bank Debt In 14 Days Using The CAP Security Instrument! Helping home owners remove their foreclosure. Cancel Your Mortgage with The CAP Financial Security Instrument!