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HOW THE MONEY SYSTEM WORKS Would you like learn your legal rights regarding your perceived credit card, auto and mortgage loans? If you don’t know your rights, then you don’t have any! You can eliminate all of these debts legally this year! You don’t believe this? Then I suggest you learn how the money system really works and how it affects you. To give you a clear picture of how the Credit card and Federal Reserve System works and affects your life, lets start at the beginning with a simple illustration. Let's say Capital One, or some other credit card company sends you an application offering you a credit card with a $5,000 limit. All you have to do is fill out the application, sign your name, and send it in. A couple weeks later you receive your credit card, call the toll free number to activate your card, and now you have an extra $5,000 spending money that you didn't have before. Let's stop here a moment. Where do you think that the credit card companies or the banks come up with the money to back-up your credit card you just received? Well, 99% of the people you ask this question to would say that the bank or the credit card company is using its own money to back the credit card. This is in fact far from the truth. So, who backs the money? As unbelievable as it may sound, it is you who backs the money. Confused? Let me explain. The moment that you signed the application to receive your credit card, your signature became the value of that $5,000. In other words, under the federal banking laws, the piece of paper that you signed has now BECOME A COMMERCIAL PAPER INSTRUMENT that has been monetized because of your signature. It is a promissory note stating that you will pay up to $5,000. That piece of paper is now worth the same amount as if you have $5,000 in cash money in your hands. When the bank or credit card company receives your signed application, under federal banking laws, they are allowed to add $5,000 worth of assets into their bank account because your signed application that you just gave to them is worth $5,000. At this point there is no real money that has changed hands, just a piece of paper they keep locked up somewhere, stating that you will pay up to $5,000 in the future. (Just as the Federal Reserve Notes in your wallet are promissory notes that promise to pay in the future when you have gold the promised obligation of whatever is on that particular FR note.) So, the $5,000 the bank entered into its bank account does not really exist yet, until you pay the bank. They have just created money out of thin air and entered it into the bank’s account. So let's take it a step further. Let's say you go to Wal-Mart and buy $100 dollars worth of clothes. You use your credit card. Wal-Mart gets $100 transferred to its bank account electronically from your bank. Wal-Mart just got paid so they're happy. You go home with your clothes, you're happy. Is the bank happy? The bank is very, very happy. Why? First, the bank got to enter $5,000 into the bank’s account because you signed a piece of paper that said you would pay them $5,000 in the future. There is no gold or silver or anything backing up this money the bank entered into its bank account! It is money created out of thin air. They just credited Wal-Mart $100. Now the bank has $4,900 left in its bank account thanks to you. Has the bank spent any of its own money yet? No! Then on top of that, the bank sends you a notice stating that you owe them $100 for your purchases at Wal-Mart and charge you anywhere from an extra 4% to 21% for using the credit card. In essence, you gave the bank $5,000 to put into its own bank account. The bank takes the $5,000 you gave them and pay out whatever purchases you make on your credit card, then turn around and charge you interest on it. I don't know about you, but if I were a bank I would be very happy with this type of return. It would be the same as if you gave your friend $100 of your money to hold on to and then to use to pay for your bills. You buy $25 worth of flowers at AAA flower shop and tell them to bill your friend who has your money. Your friend receives the bill from AAA flower shop and sends them $25.00. He then in turn sends you a bill for the $25.00 he paid out and charges you a $2.00 surcharge on the transaction. This doesn't sound quite fair does it? It isn't! In fact it is illegal, yet the banks and credit card companies do this on a regular basis paying small fines and reap big rewards. The major laws the credit card companies and banks are breaking are Usury Law and Contract Law. Usury Law states that no interest can be charged for a loan that never existed. The credit card companies never gave you a loan. If you think they did ask yourself this question: Did your credit card company ever send you money for the amount of your credit card limit along with your credit card when you first received your card? Most likely not! Another law they are breaking is Contract Law. This is a very powerful law that applies in the US, Canada, and just about every country. Contract Law states that when you sign an agreement or a contract, you must be given full disclosure of the transaction, yet the credit card company or bank never told you how they were going to fund your credit card, did they? Because the bank or credit card company never gives you honest full disclosure, under the law of contracts, the contract is null and void because you were mislead. You assumed that the lender was loaning you the money when in fact that is not true. It was in essence you who funded the “loan” with your signature on the promissory note. The bank only acts as a vehicle to make that happen for you. The lender never lends you anything! Not only do the banks use your promissory note to fund your credit cards, auto loans, mortgage loans and any other loan you might receive, the lending institutions can also use your promissory note to create 9 times the amount of money they receive to make loans up to the limit of your credit card. So for a $5,000 credit card, the banks are allowed to create $45,000, out of thin air, to use as they wish. This is called Fractional Reserve Banking. For more information, go to any search engine and plug in “Modern Money Mechanics” by the Federal Reserve, which is a book that explains how money works. Just thinking about it can make your stomach churn. The Federal Reserve System is creating money out of thin air, called fiat money, and this “elastic” Fiat Money has nothing of value to back it up except signed pieces of paper. (Our Constitution requires gold or silver to back up our money, so the current money system is un constitutional at best, and deceptive and fraudulent at worst!) This all started back in 1914 with the creation of the Federal Reserve Act, creating a system that is neither Federal nor does it have any reserves. The Federal Reserve Corporation is not owned by or part of the federal government, but is a private for profit corporation owned by 13 wealthy international banking families, and it is interesting to note that 80% of those families are not even US citizens nor do they reside in the United States. If you would like to learn how the banking system really works, I would like to encourage you to read a book by G. Edward Griffin called “The Creature From Jekyll Island”, the story about how the Federal Reserve system was founded on fraud and deceit, who is behind it, who benefits from this partnership between the Federal Reserve Corporation and the United States Government and why the government allows the partnership between the government and the Fed to continue, even thought it is an unconstitutional system that is bankrupting the United States. Most of the increasing national debt is owed to this system! President John Kennedy understood this and wanted to eliminate the Federal Reserve System. Could this be one reason he was killed? Here is the audio version from: Creature from Jekyll
Island
Understanding the Federal Reserve Money system, the commercial paper process, and the above information can help you to legally discharge not only your perceived credit card debts, but your auto loan and mortgage debts as well. For further information, I invite your inquiry.
ADDITIONAL INFORMATION ON THE BANKING SYSTEM The Federal Reserve System is in partnership with the United States Corporation. Why? How does each corporation benefit? How does this partnership help or hurt America. Let’s take an additional look at this for profit Private Corporation known as the Federal Reserve System: One type of bank asset is the "deposit" which actually consists of the check you just transferred to your account. It was a loan, an IOU from the bank. Banks will count the small amount of vault cash on hand as a type of asset, also. But most of the bank's "assets" are all the promises to pay, in other words, it’s the banks loans that are considered to be its assets. Thus, both the banks assets and its liabilities are virtually all on paper. And, this being the case, the expression from the book Modern Money Mechanics, published by the Federal Reserve Bank of Chicago, that "deposits are merely book entries" is now easier to understand. It is suggested all Americans read the books “Modern Money Mechanics” by the Federal Reserve and “The Creature From Jekyll Island,” by G. Edward Griffin, to really learn how the system works and how it impacts your life and the stability and future of your country. Now, it is also easier to understand what the electronic transfer of money is all about. All this amounts to is a transfer of numbers, or book entries, from one bank account to another. The same thing happens when you write a check. Numbers called dollars are transferred as a bookkeeping entry from your checking account to someone else. When a credit card is used, bank credit or book entries are created and transferred to another person simultaneously! Hence, our money system can be described as a "debt usury" money system. For every dollar of credit that comes into existence, a debt is created to the banks and interest (usury) is charged. Under our present money system, the Federal Government will never be able to balance its budget, and the national debt will continue to grow by leaps and bounds. However, every bank loan made in the United States today is also completely illegal, as all bank loans are based on credit instead of money. View below a copy of: Affidavit_of_WalkerTodd_Aff_1_20_041 (you must have Microsoft Word) "ULTRA VIRES"! The words "ultra vires" are important words. They mean that "a contract made by a corporation beyond the scope of its corporate powers is “unlawful." (See Blacks Law Dictionary .) The courts have consistently ruled that banks cannot lend their credit, but can only lend their money, and that all loans of credit are ultra vires. Because no bank or credit card company charter (all of which are Corporations) gives them permission to lend credit, and Congress never Authorized the banks to create money, all such loans of credit are ultra vires, or unlawful. By lending credit they have unjustly enriched themselves. They pay no interest for the use of the credit, but charge their customers the same amount of interest as if they had lent out their own money. It is DECEPTION AND FRAUD. THE COLLECTION OF INTEREST ON CREDIT IS IN VIOLATION OF ALL USURY LAWS. After all, they are collecting interest on money which does not exist. It is little wonder that as more Americans are beginning to understand this issue they are suing banks on fraud and usury charges and winning! Now that you have been informed concerning what the United States Supreme Court has said, and the Fraud the banks are committing, you have a decision to make. Do you want to keep supporting this FRAUD? If your answer is "NO" than we can help you! Our Debt Elimination Program can be used to eliminate any kind of unsecured debt where credit was extended such as credit cards. (It is also possible to do the same with secured debt!) NOW THE DECISION IS YOURS! Remember this is TOTAL ELIMINATION of all unsecured debt, NOT CONSOLIDATION OR BANKRUPTCY. We then can help cleanup your credit rating to an A+ status, if the Creditors place a negative mark on your report. This is an instant pay raise, stop making all credit card payments. The whole elimination process takes approximately 3 months to totally resolve all of your unsecured debts. You will be working directly with experts to get this whole process completed and we give you a valuable education at the same time. Now is the time to educate yourself about the FRAUD being committed and stop being a part of it. Our legal services use U.S. Supreme Courts decisions, Title 15 United States Code (USC) section 1692, the Fair Debt Collections Practices Act, section 1601, the Fair Credit Billing Act, the Uniform Commercial Code (UCC), section 203, and numerous Banking and Lending laws. There are many cases that have already been decided when it comes to the issues of "money," "credit," and "banking." The collection of interest on credit issued by a bank or a credit card company is in direct violation of all usury laws! The laws are very specific concerning the corporate authority of banks and credit institutions. THEY CANNOT LAWFULLY ISSUE CREDIT! When you tell them you discovered their fraud, THEY HAVE TO LISTEN AND RESPOND! It is your LEGAL RIGHT to have them certify a lawful debt exists. They can NEVER DO THIS!!! When you entered into a loan or credit contract, you signed a note or contract promising to pay them back, and you agreed to provide collateral that could be seized if you did not repay the loan. This contract supposedly qualified you to receive the money or credit. But did they provide 'full disclosure' of all of the terms of this agreement? Answer the following questions and decide for yourself if the bank or credit card company was acting in 'good faith,' that you received 'valuable consideration,' and that your 'signature' on that agreement is valid. Were you told that the Federal Reserve Policies and Procedures and the Generally Accepted Accounting Principles (GAAP) requirements imposed upon all Federally insured (FDIC) banks in Title 12 of the United States Code, section 1831 , prohibit them from lending their own money from their own assets, or from other depositors? Did anyone tell you where the money was coming from? Were you told that the contract you signed (your promissory note) was going to be converted into a "negotiable instrument" by the bank or credit card company and become an asset on their accounting books? Did they tell you that your signature on that note made it "money," according to the Uniform Commercial Code (UCC), sections 1-201(24) and 3-104? Were you told that your promissory note (money) would be taken, recorded as an asset, and be sold for cash - without "valuable consideration" given to obtain your note? Did they give you a deposit slip as a receipt for the money you gave them, just as a bank would normally provide when you make a deposit to the bank? U.S. SUPREME COURT, BANKING LAWS & FRAUD "A national bank.. cannot lend its credit to another by becoming surety, endorser, or guarantor for him, such an act being ultra vires.." Merchants' Bank v. Baird 160 F. 642 There are many more cases to prove that banks are participating in deceptive banking practices, which is why we request a "zero balance due" statement. Many banking and credit institutions are happy to comply because Fraud is a criminal offense. WHAT IS CREDIT? Credit is the opposite of money. Money, which is legal tender for the payment of debts, is defined by Congress in 31 USCA Sec 392. This section basically describes all coins and currency issued by the United States Government as legal tender for all debts, public and private. For purposes of this article, we will call money either coins or currency. Also, no effort will be made to argue that Federal Reserve notes are unconstitutional. That is beyond the scope of this article. Now, if you went to a motorcycle dealer to buy a new Harley Davidson with no money down, you would say that "your credit is good." What exactly does that mean? It means that your promise to pay money is good. In other words, they trust you. You sign a loan agreement to pay the motorcycle dealer a certain sum of money with interest, and you also sign a security agreement in which you pledge the motorcycle as collateral for the security agreement. So, the motorcycle dealer has accepted your credit, or promise pay a sum of money, in exchange for the motorcycle. Consider how different a bank loan is. When you apply for a bank loan, you sign a loan agreement pledging to pay the bank so many dollars, with interest. When the bank accepts your promise to pay in exchange for a loan, it means your credit is good. However, the next question is the most interesting. What does the bank lend you? The bank will invariably give you a check, which is a promise to pay you so many dollars. In effect, what you and the bank have done is exchange a promise to pay. In other words, you have accepted each others credit, yet no money has exchanged hands! Now what do you do with the check? Probably one of two things: either you deposit it into your checking account, or you take it to a merchant for instance, a car dealer. In either case, the check, when deposited goes directly to the bookkeeping department where the numbers are transferred from the check and are added to your account as a bookkeeping entry. Once this entry is made a bank will say that its deposits have increased. How can a transfer of numbers increase the deposits? IT CANNOT! This fictional increase is all on the books as there is no increase in the actual amount of money in the bank's vault. All of these bookkeeping entry deposits are called "demand deposits," which means that the customer can literally walk into the bank and demand the deposit. These figures are placed into the banks liabilities column as money, which the bank owes people. It is a great system for the international bankers that own the Federal Reserve System. Not so great for you or your country. The system is bankrupting America. We have a national debt that grows exponentially each year and can never mathematically be paid off! To learn more, we invite your inquiry. We Thought We Were Getting A Loan! Dear fellow Americans, I’ve recovered my composure, but I’m still dazed. A friend called me to ask if my wife and I had a conventional mortgage and if we did, did we realize that we were being badly misled? That’s a serious charge and I didn’t understand, so he explained that our lender used the promissory note we signed at closing to pay off the former property owner, never loaned us money out of his own pocket, did not tell us, and still requires monthly payments! But, I protested, how can he do that? We’ve paid more than $140,000 so far, keeping our agreement at the risk of default and foreclosure. And wasn’t he taking a big risk with us for 30 years by lending us the purchase price of our home? No, he wasn’t, isn’t, and never will be. Little did I know that the lender deposited our note in his account just like cash, and listed it as a new asset. He then “bought” money from the Federal Reserve with this “asset”, expanded that money anywhere from 2-9 times, used some of the money to pay off the previous property owner, and kept the rest. He never loaned us a dime! In fact, we loaned him money and he literally carries our promissory note on his books as a liability, just as if we had deposited cash in his account that he would then be obliged to give back to us if we demanded it. We literally paid for our house on the spot with that promissory note, but we’re paying again, over 30 years, for the same house! This is crazy, I said! I thought we were getting a loan.
In fact
it was an exchange. In an honest loan agreement, the lender’s supply of money would shrink by the amount that he loaned us. He’d be earning his profit (interest) by risking money that was really his. In our case, the lender’s pool of money exploded when he took advantage of his status as a Federal Reserve lender and created money out of thin air with our note. If a private lender tried this, it’d be counterfeiting and he’d end up in the slammer. It’s called fractional reserve banking and all lenders who are part of the Federal Reserve System do the same thing. Only they don’t tell you what they do with your note, and that’s dishonest. Why? Because by law, if the actions of either party to an agreement significantly alter the cost or risk as originally represented, he is obligated to inform the other party. Lenders NEVER tell “borrowers” that their promissory notes are instant cash cows, that they use your note to fund your own loan, or that they incur little risk. But you still pay a second time, month after month, year after year for something you’ve already paid for with that note The lender is NOT telling you that:
• He’s funding the purchase of the property with your promissory
note and that no money comes out of his pocket to do that. And if you understood what your lender did with your note and you had a law dictionary, you’d realize what your Deed of Trust or Mortgage really says, which is that, • You enter the Deed of Trust or Mortgage agreement after signing the Promissory Note as the sole owner of that “Fee Simple” property, paid for in full by your signature on the note, and then you sign it away as collateral for the privilege of paying again, paying this “trickster” principal and interest for the next 30 years. Whereas, silly us,
• We
thought we were taking out a loan. Have we kept our side of the bargain? You bet we have. I even feel like we should keep paying because I’m old fashioned and my granddaddy told me you don’t get something for nothing. Well, did we get something for nothing? No, but the lender did! Were we tricked? Yes we were. The lender created the money to purchase our home from the previous owner out of thin air with our promissory note, expanded it up to nine times, invested this free money to get free interest, never paid taxes on this extra money he created, then held hostage the title to our home that he didn’t pay for while he began collecting 2 ½ times the original purchase price from us one month at a time for 30 years! We gave that lender enormous value, value far exceeding the purchase price of the home we live in. But, like millions of other homeowners, we couldn’t see behind the curtain that was drawn when we handed over the promissory note. We didn’t know how banking works. We didn’t understand what constitutes value in our system these days, and the lender never told us. Why would he? If he had, we’d have demanded a darn good reason why we were going to have to pay him more than $500,000 over 30 years, for a house that we had already paid for, not to mention the liberties he took with our note by expanding its value without our permission. We’re doing something about it, and you can too. You can submit your loan to a professional company that has proven that it can “persuade” lenders to re-convey deeds of ownership to homeowners free and clear through a proprietary non-judicial process. No more mortgage payments ever again in as little as 5 months. And why are these lenders quietly settling? Because they know we know what’s really going on and because even if they lose our monthly payments, they still have all that money to play with that they created out of thin air. I’ve decided to help others, because now that I know the truth, I can’t sit still. If you have a conventional (not private) loan on commercial or residential property secured by a deed, you’re current with your payments, and you accept our premise that what’s going on is wrong and can be remedied, there’s a good chance you can be helped. Remember, when you sign the promissory note, as we all have, it becomes a negotiable instrument, good as cash to the bank, so you fund your own loan. And you thought they were lending you money. *** This true personal account accurately reflects the experience of many people who finally understand the truth about mortgages. Think this over and if you have questions, please call us at 888-879-5172, or go to www.ba-group.com and get in touch with us immediately. We are looking forward to hearing from you soon. P.S. Tell your friends. They’ll thank you forever.
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