Loans are fraudulent

A loan created out of nothing is an attempt to count the IOU of the borrower twice. This is slavery. The bank creates debt backed by the future earnings of the borrower while the borrower offers the bank their future earnings for the loan… This is counting the future earnings of the borrower twice. Since only owners can collateralize their assets, the bank’s claim that the future earnings of the borrower is an asset that they have a right to sell is false and fraudulent, effectively making all loans in existence voidable, starting with my $1.25M.


Summary:

The argument contends that loans, particularly those created without tangible assets as collateral, lead to a situation where the borrower's promise to repay is counted as both an asset and a liability, akin to counting an IOU twice. This is likened to a form of slavery, where the borrower's future earnings are essentially owned by the lender. The argument suggests that because only asset owners can offer collateral, claiming a borrower's future earnings as collateral is fraudulent. Therefore, the conclusion is drawn that all such loans are voidable, including the one in question.

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