Tyler Durden of Zero Hedge on Jan 24, 2017 at 3:30 AM released a propaganda piece in an attempt to belittle spanish courts out of regulating predatory lending practices proven to be nothing more than Financial engineering Scams - Such as Fractional reserve banking with its umbrella of corruption it operates.
News hedge reports:
The Spanish banking sector is getting used to judicial setbacks. Unfortunately, they’re not the sorts of setbacks we’d like to see. This could have been an article on the elimination of the legal privileges — e.g., the existence of a state-owned central bank in charge of bailing out its (equally) irresponsible fellows — that financial businesses are nowadays granted worldwide. Eliminating those privileges would have been a setback for the banking sector, but good for everyone else.
As true as that is in the long run - as usual the Central Banking Cartel has moved in an act of Economic warfare on the state's sovereignty, intentionally disrupting a smooth transition as this is the Key - giving them world control over nation states as they "Suck" value from a nation over many many years like an unabated Parasite on your wallet.
THE BANKS ARE BANKRUPT AGAIN HOLDING LESS THAN 1/2 OF 1 CENT PER EVERY DOLLAR OF YOURS THEY HOLD
no liberalization of that sort whatsoever has taken place.
Rather, several recent rulings from Spanish courts have systematically encroached on the individual’s right to contract with others — and the public opinion is gleefully celebrating their decisions.
It all started back in 2013 when the Spanish Supreme Court declared the nullity of the so-called “floor clauses,” which simply constituted a minimum level set on the payment of interests on (mortgage) loans and which were included in many of such contracts during the housing bubble.
These clauses were commonly accompanied by “roof clauses,” whose content was exactly the opposite (i.e., a maximum interest rate) and yet did not experience any ban by the judicial authorities.
- THE BANKS ARE BANKRUPT AGAIN HOLDING LESS THAN 1/2 OF 1 CENT PER EVERY DOLLAR OF YOURS THEY HOLDTHE BANKS ARE BANKRUPT AGAIN HOLDING LESS THAN 1/2 OF 1 CENT PER EVERY DOLLAR OF YOURS THEY HOLD
All central banks work in a similar method if a member of the global banking cartel, they lobby themselves into legislation giving them the sole authority to counterfeit a currency in a process of currency devaluation, framed as inflation while the value of the currency is counterfeited away.
The hypocrite Twins will explain the United States Version which acts in almost an identical method aside from what they have lobbied to decriminalise in each nation they operate.
United States Central Bank Explained by Hypocrite Twins
- Four Horsemen - Feature Documentary - Official Version Bank; Noam Chomsky, linguistics professor; John Perkins, author of Confessions of an Economic Hit Man; Herman Daly, economy professor and former economist at the World Bank; and Max Keiser, TV host and former trader.
The article furthermore goes on to Propagandise:
Thus, a contract by which two freely agreeing parties, in accordance with their personal evaluations of risk, decided to put some limit to the amount of interest that could derive from the loan, was deemed void by the Justices, since it supposedly violated Spanish consumer protection legislation.
The key element defining the “abusive character” of floor clauses was its alleged “obscurity” or “lack of transparency,” even though signed contracts would commonly refer to those conditions in terms such as: “It is hereby established that in no case the interest rate shall be lower than 3.5% or higher than 14%.”
As the piece goes on to further twist the story into the insinuation that the courts are somehow to be vilified for their action it states:
These rulings are forcing banks alone to bear the consequences of their customers’ decisions when it comes to legal disputes between them. It is becoming a worrying judicial habit.
For instance, just a few days ago the same malicious “abusive” feature was interpreted by the courts to exist in a whole myriad of other contracting clauses included in mortgage loans, like multi-currency calculation of its value, the responsibility of the borrower as regards the payment of a special tax on economic activities and other legal expenditures. More recently, a judge decided for the first time to allow a debtor to turn over his house as a way to extinguish the mortgage loan without having agreed on it with the creditor.
So now that the courts reach has spread and is now running ramped ripping apart the criminal cartel in Spain to such a degree - large credible publications such as Zero Hedge show themselves to be fake news outlets working against the interests of the people they are to serve. A point of which we here at Con-tru.com are happy to jump in and do the job.
It wouldn't matter how anyone on the planet ends central banking, there's basically no wrong way. It is that Central Banking Should not exist at all let alone in its current form --- unless we would all like to admit engaging in the act of Corporate Fascism and Monopolism making us not capitalists at all as the writer of the hit Piece in reference.
Only a completely foolish stooge would try and reclassify this awakening of the spanish courts as anything aside from that - an Awakening to the unfeathered corruption and Dysfunction of the World Financial System -- which in turn takes the profits acquired through manipulation this of economic time bomb they created to buy out all value from every corner of the planet. The citizens of the world here you go, all you own is the currency and nothing else. You get debt, they get wealth and that is that.
The article goes on to blame the law of Law for being applied but never ever once acknowledges an end of central banking is a win for the people of spain (In all circumstances) -- I could go on all day about how wrong this article is from is very conception, but i digress. Links supporting my argument are found throughout the publication and i suggest if you disagree, then go ahead and get educated.
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