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banks don't lend

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allstarr
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(@allstarr)
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Joined: 8 months ago

I saw a video about this on YouTube, and in doing a search for the subject, I can across this site, via this page.

I've been watching a lot of videos, over time, recently coming across Brandon Joe Williams, such as his 2 "infinite money" videos on YT.

The theory (I'm currently testing it) is that the "statements" are "positive balances of securities." What some have said is that they have success, and that the accounts are "zeroed out," or that they actually have a "negative balance," which means they have credits to their account. Some have had the accounts reversed or shut down, and others (pushing out to 30 days) have not.

As banks don't lend money, accept money, nor "extend their own credit," as it's our credit, has anyone been able to put this into practical usage?

I can see 2 possible ways to use this, which can, in theory, run together.

The first is to keep credit cards open, settle the balance back to zero, or having the negative balance, with extra credits.

The second is to completely finance the purchase of a car (down payments are illegal, and if one is financing, all costs are to be in the loan, from what I've heard and if I'm reading correctly). Then, "0 out" the car loan, and now, with a car free and clear, to sell it for FRN, and operate as needed. A similar idea would apply to other assets, especially real estate.

Again, just theories and speculation, on my part.

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Guide at Educated in Law
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(@adminu)
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  1. Yes, the statements may show a positive balance, meaning a credit balance. One could ask for a refund of the balance in the form of a check or ask that the credit balance be applied to the outstanding amount on any open balances of any accounts in the person's (LLC's) name. Person means a business entity.
  2. I think there are two accounts in play: (1) the account number of the credit card and (2) another account number that pulls from the (social) security account.
  3. The second account number (and routing number) is on the voucher portion of the statement; the bottom 1/3. They pull payment from the security account into the 2nd account number. That payment is used to pay the balance.
  4. But when people also send a check, they are double paying. They even say to NOT attach the check to the voucher because they are unrelated. The voucher pays the balance. The check is simply free money for them. 
  5. I want to try to deposit that voucher/check. I would write out the amount such as "One hundred dollars and ten cents." And autograph the back along with "Without prejudice".  
  6. Note, as a counter point, some people say a credit card is a revolving line of credit and that this type of open loan would only have a statement showing how much has been borrowed. 
  7. At one point, I thought the whole thing is a bond statement, where I lent money to the credit-card company, and the voucher is the classic, traditional means of getting one's interest payment on the bond. Bonds used to come with redeemable vouchers on the bottom. 
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