WhateverOne
Active Member
just wanted to know what you all think of this..
In 1969, there was a Minnesota court case involving a man named Jerome Daly,
who was challenging the foreclosure of his home by the bank,
which provided the loan to purchase it.
His argument was that the mortgage contract required both parties,
being he and the bank, each put up a legitimate form of property for the exchange.
In legal language, this is called consideration.
Mr. Daly explained that the money was, in fact, not the property of the bank.
For it was created out of nothing, What they do (the banks), when they make loans,
is to accept promissory notes, in exchange for credits. Reserves are unchanged by the loan transactions.
But, deposit credits constitute new additions to the total deposits of the banking system.
In other words, the money doesn't come out of their existing assets.
The bank is simply inventing it, putting up nothing of it's own, except for a theoretical liability, on paper.
As the court case progressed, the bank's president, Mr. Morgan, took the stand.
And in the judge's personal memorandum, he recalled that the Plaintiff, bank's president,
admitted that, in combination with the Federal Reserve Bank did create the money and credits
upon its books by book-keeping entry. The money and credit first came into existence
when they created it.
Mr. Morgan admitted that no United States Law or Statute existed
which gave him the right to do this.
A lawful consideration must exist and be tendered to support the Note.
The Jury found that there was no lawful consideration and I agree.
He also poetically added:
Only God can create something of value, out of nothing.
And, upon this revelation, the court rejected the bank's claim for foreclosure and Daly kept his home.
The implications of this court decision are immense. For every time you borrow money from a bank,
whether it is a mortgage loan or a credit card charge, the money given to you is not only counterfeit,
it is a illegitimate form of consideration. And hence, voids the contract to repay.
For the bank never had the money as property to begin with.
Unfortunately, such legal realizations are suppressed and ignored.
In 1969, there was a Minnesota court case involving a man named Jerome Daly,
who was challenging the foreclosure of his home by the bank,
which provided the loan to purchase it.
His argument was that the mortgage contract required both parties,
being he and the bank, each put up a legitimate form of property for the exchange.
In legal language, this is called consideration.
Mr. Daly explained that the money was, in fact, not the property of the bank.
For it was created out of nothing, What they do (the banks), when they make loans,
is to accept promissory notes, in exchange for credits. Reserves are unchanged by the loan transactions.
But, deposit credits constitute new additions to the total deposits of the banking system.
In other words, the money doesn't come out of their existing assets.
The bank is simply inventing it, putting up nothing of it's own, except for a theoretical liability, on paper.
As the court case progressed, the bank's president, Mr. Morgan, took the stand.
And in the judge's personal memorandum, he recalled that the Plaintiff, bank's president,
admitted that, in combination with the Federal Reserve Bank did create the money and credits
upon its books by book-keeping entry. The money and credit first came into existence
when they created it.
Mr. Morgan admitted that no United States Law or Statute existed
which gave him the right to do this.
A lawful consideration must exist and be tendered to support the Note.
The Jury found that there was no lawful consideration and I agree.
He also poetically added:
Only God can create something of value, out of nothing.
And, upon this revelation, the court rejected the bank's claim for foreclosure and Daly kept his home.
The implications of this court decision are immense. For every time you borrow money from a bank,
whether it is a mortgage loan or a credit card charge, the money given to you is not only counterfeit,
it is a illegitimate form of consideration. And hence, voids the contract to repay.
For the bank never had the money as property to begin with.
Unfortunately, such legal realizations are suppressed and ignored.
I mean yeah, there are people out there that have 'loan scams' going... but if you were to go to a legitimate bank and get a loan.. it wouldn't be "counterfeit".. it would be a legit loan. Also, if you were to do your homework and do some research on 'Loan companies' to see which ones are legit and reputable.. you would see that not "all loans are counterfeit". Paranoia will eventually kill ya.. 
They'rrrreeee Grrreeaaaaatt!
