Basel III Empowers the Citizens, Not the Banks
Ariel
@Prolotario1
I Guess This Is The End:
The Fall of Baal Info came out via Militia-Man & Crew that confirm what I shared with you all about Texas when redeeming currency for precious metals that once the Iraqi Dinar is on the Forex anyone will be able to convert into Gold & Silver.
Do you all know how monumental this is?
Remember the 43 states that pass bills to make metals legal tender? This means your money will be 100% tax-free. This means that if you purchase property with gold mortgage, taxes, liens, etc, it will not be a factor in any capacity.
Why do you think bankers fear Basel 3?
Remember what the MBA stated a few days ago? That the entire model of real estate will change because of B-3. “The Mortgage Bankers Association (MBA) has voiced strong opposition to the Basel capital rule changes, pointing out seven key areas that could affect major banks and regional banks, lenders, servicers, and borrowers within the housing finance ecosystem. Here’s a closer look at these crucial concerns”. End quote.
Basel 3 empowers the citizens. Not the banking industry. This is why they are now trying to double down on the Dodd Frank Act. Which allows the bank to legally confiscate your money making them impervious to lawsuits.
You all have to understand. In the 1970s, boomers bought houses for 10k-20k. Now do you all see why bankers were crying to Congress about Basel 3 on Capitol Hill a couple of months ago?
The days of writing up mortgages with interest rates that only exist on a computer screen with nothing in the bank vaults to support the contract written out homebuyers that agree to honor that over decades on a monthly basis. Not knowing they financially entrapped themselves by signing off on a document that allows the bank to seize or confiscate your property due to delinquency in payments for money they never physically possessed themselves to underwrite a contract based on nothing but a promise and not assets are over.
https://www.bloomberg.com/news/articles/2024-02-12/basel-iii-threatens-real-estate-financing-in-us-mba-chief-says
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chillininnh70
@ShawnMinor34355
My local bank recently announced they were getting out of the mortgage business. At the time it struck me as surprising. Guess now I know why. They’ve been around since 1831. Basel 3 baby.
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Ariel
@Prolotario1
The incentive to make money in the mortgage market will be taken away once Basel 3 is implemented. Which is wonderful for citizens.
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george wilson
@georgew41206252
I can add to this. I am selling my house and buying another one. When we asked for wiring instructions the escrow officer said we can transfer direct from our account to escrow. She said it’s a brand new program. In 20 years of real estate my wife has always had to wire money.
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Ariel
@Prolotario1
Amazing. I guess ISO-20022 is working it’s magic.
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