I’ve just been watching a fascinating bit of footage on YouTube. It is film of an eviction taking place in Potters Bar, Hertfordshire. If you want to see it, it’s called “The People v The Banks: Conviction beats Eviction”.
The reason it’s so important is that in this age of austerity many people are losing their homes. What this piece of footage does is to show you how you can resist an eviction lawfully, and how in many cases it is the bailiffs who are breaking the law.
This was certainly true in this case.
The most important line is said by the man behind the camera towards the end of the film. He says that your signature when you took out your mortgage created the money to pay for the mortgage. He is addressing the police lined up across the road. “It was you who created the funds to pay for your mortgage,” he says.
Did you know that? Did you know that your mortgage was never a loan, but was actually new money created by the banks at the moment you signed the document agreeing to pay it back?
This is the fraud which lies at the heart of the banking system. Private money created by a private financial system to benefit themselves, not the people.
The banks have profited several times from the process. Firstly they profited when they speculated recklessly on the housing market, lending money that didn’t exist to people who couldn’t afford to pay, which was the cause of the housing bubble, which was the cause of the banking crisis, which nearly brought the world’s financial system to collapse.
Then they profited again when our governments bailed them out, rewarding them for their failure and allowing them to get away with their dubious practices, which is the cause of the depression we are in now.
Finally they continue to earn money from austerity, evicting people from their homes, taking over failing businesses, and profiting directly from the financial crisis they themselves created.