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Message Subject Get rid of the money system, then get rid of goverrments
Poster Handle Levi Philos
Post Content
Securitization is illegal

[link to www.google.com]

Allonge and Stellionate are terms associated with financial crimes (stellionation is selling the same thing to more than one buyer); allonge is a tracking document usually attached to a bill of exchange.

We may hear more of this with the MERS mess and with the multiple paper claims on commodities - especially the metal gold.

You may wish to acquaint yourself with these terms.

Here is one hit for allonge: [link to www.wisegeek.com]

One of many hits for stellionate: [link to legal-dictionary.thefreedictionary.com]

Securitzation 101: [link to stopforeclosurefraud.com]
 Quoting: Levi Philos 590644


Dr Ellen Brown on the MERS situation: [link to www.webofdebt.com]

Ellen Brown on the tranche problem:
The top tranche is triple A because it includes the mortgages that did NOT default; but no one could know which those were until the defaults occurred, when the defaulting mortgages got assigned to the lower tranches and foreclosure went forward. That could explain why the mortgages could not be assigned to the proper group of investors immediately: the homes only fell into their designated tranches when they went into default. The clever designers of these vehicles tried to have it both ways by conveying the properties to an electronic dummy conduit called MERS (an acronym for Mortgage Electronic Registration Systems), which would hold them in the meantime. MERS would then assign them to the proper tranche as the defaults occurred. But the rating agencies required that the conduit be “bankruptcy remote,” which meant it could hold title to nothing; and courts have started to take notice of this defect. They are concluding that if MERS owns nothing, it can assign nothing, and the chain of title has been irretrievably broken. As foreclosure expert Neil Garfield traces these developments...
 Quoting: Ellen Brown


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