"we were the security to obtain that loan" - they borrowed against themselves?
this post was submitted on 26 Mar 2024
97 points (96.2% liked)
InsanePeopleFacebook
2524 readers
156 users here now
Screenshots of people being insane on Facebook. Please censor names/pics of end users in screenshots. Please follow the rules of lemmy.world
founded 1 year ago
MODERATORS
Sounds like they're saying the money the bank gets from the government is actually their money, so technically they paid for everything, and owe nothing?
It's more than a little confusing.
My understanding from reading other SovCit posts(keep in mind this is all bullshit), when we converted from gold/silver backed economy the government took out a massive load from the World Bank and used its present and future citizens as collateral. Since the value of this loan has increased by so much since it was originally created there is now Equity which belongs to each citizen that was used as collateral. Your Equity is tracked using your social security number. As such any loan you take out using your social security number can be paid using this Equity.
Yes, it makes no sense and that is not how collateral or equity or the world bank or fucking reality works but I think that is their belief.
Mostly right. See, in SovCit land, the government is a corporation. When you're born, they create a savings account with your social security number that is used to back the fiat currency. Basically they think every person owns a fair portion of the total wealth in dollars in the world. For every dollar on earth, there's a dollar in a social-security number.
So when they take out a loan, that loan is backed by the tens of millions in their government account, they are in fact either lending to themselves, or simply withdrawing from their own account.
Not much dumber than courts treating corporations as people when it comes to honoring money as speech but not when crimes are committed by the company. It's buffoonery all around but the courts have made some dumb rulings in the past to encourage this nonsense.
That's what I think.
Bank gives money to citizen; government pays back bank.
As opposed to the usual method of skipping the middle-man and just getting your property money off the IRS directly.
Good luck, folks. In other news, I heard the queen of Canada cancelled all utility bills. Maybe try moving there*.
*If you know, you know.
Oh Romana you batshit lunatic.
'...it was nice if it was true, but it real life it doesn't work that way' basically just summed up the entire SovCit movement right there.
Out of all the sovereign citizen nonsense I have seen, this is probably the most likely to work. Not in a "that is the way the law works" kind of way, but in the "the other party might actualy get duped" way.
Essentially, it is a variant of the fake invoice scam. In a fake invoice scam, you send a bill to a company you never worked for. Normally, the company will look at it and ask "what is this about?". However, occasionally the bill will land on top of a pile of paperwork. Then a parent who was up all night with a sick kid will come in in the morning, see an unpaid bill, and write the check before having their morning coffee.
Essentially the same thing happened here. The bank got paperwork from the IRS saying that the bank forgave the loan (point 1 to the scammer for having this come through the IRS). Of course, most of the time, the banks response is going to be "no we didn't", at which point the scammer looses. But occasionally an employee at the bank is going to mess up, and do something that might result in the loan actually being forgiven.
If I understand the sovcit "process" based on previous posts, the lack of a response (ie: not sending a clear rejection letter) constitutes acceptance. I think there's also something about if forms are rejected 3 times it is also acceptance.
I think they think it's like saying Bloody Mary looking in a mirror three times lol.
They think cheat codes work in real life
Good god
The banker was extremely patient lol.
"he was very easy to talk to" "he was very interested"
Yeah he's gathering evidence for your upcoming fraud charges
They didn’t.