“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.” ...Lord Acton
THE PROCESS STEP BY STEP
Borrower Signs the Bank's Loan Contract and Mortgage
Borrower's Signature transforms the Loan Contract into a Financial Instrument worth the Value of the agreed Loan Amount
Bank Fails to Disclose to Borrower that the Borrower Created an Asset Loan Contract (Financial Instrument) Asset Deposited with the Bank by Borrower
Financial Instrument remains property of Borrower since the Borrower created it
Bank Fails to Disclose the Bank's Liability to the Borrower for the Value of the Asset
Bank Fails to Give Borrower a Receipt for Deposit of the Borrower's Asset
New Money Credit is Created on the Bank Books credited against the Borrower's Financial Instrument
Bank Fails to Disclose to the Borrower that the Borrower's Signature Created New Money that is claimed by the Bank as a Loan to the Borrower
Loan Amount Credited to an Account for Borrower's Use
Bank Deceives Borrower by Calling Credit a "Loan" when it is an Exchange for the Deposited Asset
Bank Deceives Public at large by calling this process Mortgage Lending, Loan and similar
Bank Deceives Borrower by Charging Interest and Fees when there is no value provided to the Borrower by the Bank
Bank Provides None of own Money so the Bank has No Consideration in the transaction and so no True Contract exists
Bank Deceives Borrower that the Borrower's self-created Credit is a "Loan" from the Bank, thus there is No Full Disclosure so no True Contract exists
Borrower is the True Creditor in the Transaction. Borrower Created the Money. Bank provided no value.
Bank Deceives Borrower that Borrower is Debtor not Creditor
Bank Hides its Liability by off balance-sheet accounting and only shows its Debtor ledger in order to Deceive the Borrower and the Court
Bank Demands Borrower's payments without Just Cause... Deception-Theft-Fraud
Bank Sells Borrower's Financial Instrument to a third party for profit
Sale of the Financial Instrument confirms it has intrinsic value as an Asset yet that value is not credited to the Borrower as Creator and Depositor of the Instrument
Bank Hides truth from the Borrower, not admitting Theft, nor sharing proceeds of the sale of the Borrower's Financial Instrument with the Borrower
The Borrower's Financial Instrument is Converted into a Security through a Trust
or similar arrangement in order to defeat restrictions on transactions of Loan
The Security including the Loan Contract is sold to investors, despite the fact that such Securitization is Illegal
Bank is not the Holder in Due Course of the Loan Contract ...only the Holder in Due Course can claim on the Loan Contract
Bank Deceives the Borrower that the Bank is Holder in Due Course of the Loan Contract
Bank makes Fraudulent Charges to Borrower for Loan payments which the Bank has no lawful right to, since it is not the Holder in Due Course of the Loan Contract
Bank advanced none of own money to Borrower but only monetized Borrower's
Bank Interest is Usurious based on there being No Money Provided to the Borrower by the Bank so that any interest charged at all would be Usurious...Thus BANK "LOAN" TRANSACTIONS ARE UNCONSCIONABLE!
Bank Has No True Need for a Mortgage over the Borrower's Property, since the Bank has No Consideration, No Risk and No Need for Security
Bank Exploits Borrower by demanding a Redundant and Unjust Mortgage
Bank Deceives Borrower that the Mortgage is needed as security
Mortgage Contract is a second Financial Instrument Created by the Borrower
Deposit of the Mortgage Contract is not credited to the Borrower
Bank Sells the Borrower's Mortgage Contract for profit without disclosure or share of proceeds to Borrower
Sale of the Mortgage Contract confirms it has intrinsic value as an Asset yet that value is not credited to the Borrower as Creator and Depositor of the Mortgage Contract
Bank Deceives Borrower that Bank is the Holder in Due Course of the Mortgage
Bank Extorts Unjust Payments from the Borrower under Duress with threat of Foreclosure
Bank Steals Borrower's Wealth by intimidating Borrower to make Unjust Loan Payments
Bank Harasses Borrower if Borrower fails to make payments, threatening Legal Recourse
Bank Enlists Lawyers willing to Deceive Borrower and Court and Exploit Borrower
Bank Deceives Court that Bank is Holder in Due Course of Loan Contract and Mortgage
Bank's Lawyers Deceive and Exploit Court to Defraud Borrower
Bank Steals Borrower's Mortgaged Property with Legal Impunity
Bank Holds Borrower Liable for any outstanding balance of original Loan plus costs
Bank Profits from Loan Contract and Mortgage by Sale of the Loan Contract, Sale of the Mortgage, Principal and Interest Charges, Fees Charged, Increase of its Lending Capacity due to Borrower's Mortgaged Asset and by Acquisition of Borrower's Mortgaged Property in Foreclosure.
Bank retains the amount of increase to the Money Supply Created by the Borrower's Signature once the Loan Account has been closed.
Borrower is Damaged by the Bank's Loan Contract and Mortgage by Theft of his Financial Instrument Asset, Theft of his Mortgage Asset, Being Deceived into the unjust Status of a Debt Slave, Paying Lifetime Wealth to the Bank, Paying Unjust Fees and Charges, Living in Fear of Foreclosure, and ultimately having his Family Home Stolen by the Bank.
Thus, the BANK MORTGAGE BUSINESS IS UNCONSCIONABLE
Challenge your Mortgage - Step 001
QUESTIONS and ANSWERS
Q: What is the basis of your Peoples Grand Jury action against the banks, and why do you say that the banks are engaged in fraudulent and illegal practice?
A: Our statement of claim explains the lot, but essentially, when you go to the bank to borrow money, they don't really lend you any money (or not the kind of money that we can see, feel and touch such as gold or legal tender bank notes).
Not only do you not receive any money, but the "money" or "credit" that you receive actually comes from you ... from the promissory note or commercial instrument which you yourself "validate" by signing the document.
The bank takes this instrument which you just created (your own money) from you and the bank deposits this money into your account.
They then make a ledger or computer entry into your account and claim they loaned you the "money."
You must first understand that "money" is only credit.
It has no value in and of itself. it is only a licence to do something.
This is illegal because there is no law that empowers these corporations to create money out of nothing. Only God can create something out of nothing.
In the above example, the money "loaned" to you by the bank actually came from you.
The bank provided no equity in the transaction; the bank never risked anything, nor lost anything and never would have lost anything.
The bank was only supposed to keep your money (the promissory note) as collateral, in case you default.
But what they do not tell you is that they took your promissory note or commercial instrument and converted it for their own use by on selling it . They unlawfully enriched themselves, and this is illegal.
Q Why do you say the money or credit comes from me?
A: Because that is the truth - the money, or the bank note that we have in circulation today is nothing but a promissory note ... it is not real money, it is fiat money ... a piece of "legal tender" paper ... that says the government owes us the money, because after they took the gold out of circulation, there is really no money left ... therefore there is nothing to pay our debts with !
All we have is the government's promise to pay - worthless lOUs that are not backed with anything other than the government's coercive force, which dictates to us that we have to accept this form of "legal tender fiat money" or we get nothing for our labour.
The banks have no "credit", the credit comes from us. This credit is backed by our labour, our ability to repay whatever we may borrow. In other words, our credibility.
But the banks, the lawyers, the accountants, and the debt collectors do not tell us that.
The banks lie to us each time we borrow money because they really do not lend us any money ... whatever "money" they lend to us is ours to begin with as it did not come from their vaults ... it was created as electronic or digital money.
Q: Where does the bank get the money to lend to their borrowers?
A: They use God's money ... money they create out of nothing, out of "air," ... they have created an unlimited "money tree" ... made possible by gullible and trusting people who are led to believe that they are lending us their own money ... or money deposited by their clients in their cheque or savings account.
The banks really do not have any money or assets to lend.
Banking regulation does not permit the banks to lend their depositors' money.
Money is created each time a borrower signs a promissory note which is then deposited into their account as "cash."
It is done these days with a flick of a few computer keys. It has no other form of existence!
This cash value is then used by the bank to increase their book asset by the amount that is equivalent to the loan.
It is not as though the bank had this money sitting in their vault waiting for someone to come along and borrow that money.
The fact is, prior to the loan agreement, when we come to the bank to borrow money, the money did not exist. Therefore the money had to come from somewhere.
In the old days, when banking used to be honest and honourable, only those who have money can engage in the business of lending money. That was when the banking business used to operate just like any other business.
If the bank did not have the money, they have to get the money from the central bank or another bank, rent the money at wholesale (low interest) and then lend the money at retail (higher interest) to the borrower.
They couldn't create unlimited amounts of money like they do now. It is true, banks were allowed to issue debt certificates, or notes, but these are really not intended to be circulated as money.
In recent times, banks are no longer required to have money in order to lend money.
You might say: "duh?" ... Yes it's true, it's called the "fractional reserve" banking system.
This is because there is really no such thing as money. So when you want to borrow money, you just go to one of these banks who does not have any money to lend, and they'll create money on their CONputer, right in front of you, just like magic.
Just sign a promissory note or loan application form and voila!
With one quick CONputer entry, you now have money sitting in your account!
Or the bankster issues a cheque payable to you, even though these cheques are not backed by any currency or legal tender money.
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