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  • richardmkiernicki

The Unconventional Conventional Part XXXV

In my last column I added a link to the Asher Institute’s Report about The Banking Industries Biggest Secrets. Did you read it? You should. Copied directly from the report,” The Institute has identified a major consumer misnomer that needlessly costs American (and Canadian) consumers billions of dollars a year. The misnomer is perpetuated by the banking industry in order to maximize profits and has been very successful due to the misinformed status of the public.” The report is accurate for Canadians and I believe accurate in any country that has a banking system that allows for mortgage and other types of lending.

Therefore, my second question, “Is Financial Literacy to be defined as the agreement made by the “misinformed” public’s perception of so called “facts” being distorted to the point of where the real truth gets entirely lost and then to be accepted as Financial Literacy never to be

questioned?” Or, as Dresden James has put it “When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” I guess I am to be the raving lunatic. It is time to expose these crimes and to unite the public to force the banks to make the necessary changes and stop cheating the public.

Did you know that the word “mortgage” with it’s root in old French, means “dead pledge”? That’s right, a dead pledge, either you kill it, or it kills you. And that is the way your financial institution regards your pledge. Did you know that the amortization tables, written by the bankers for the banks they own, were written specifically to their advantage and no one has ever really challenged those tables? Do you think that the banks would ever compromise their profits by offering you a deal that actually helps you or do you think that the banks intent is to squeeze

every possible cent of profit out from you? The Report goes on to say “The Institute finds nothing wrong with corporations profiting as that is their sole purpose. However, since this particular profit game is the result of a misinformed public, we find the solution is to inform consumers exactly how it all works.” However, the simple reality is that the general public has not been informed about this. Why you ask has nothing been done about this fraud? Simply put, the Banks do not want you to know. The worst part, the government will never tell you the truth either because they collect billions in tax dollars as people earn the money to pay off their mortgages. In fact, the government makes more money from this than the banks. No wonder their lips are


Financial Literacy is about getting to the truth and then acting on it to better yourself.

Copyright 2013 Richard M. Kiernicki. All Rights Reserved.

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