How to expropriate money from the banks (book).

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Does the bank own the money which, by contract, it agrees to give to the debtor in order to buy his house?
Can the bank oblige a person who cannot repay his mortgage in full to hand over his house?
No, because the money the bank signs as lent by contract is actually created at the same moment that the mortgage is signed. This is obviously illegal as no-one can loan something they do not own. As a consequence, no-one can be accused of owing money if that money did not exist when it was lent.

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