“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” John Adams, 1735-1826

GOLD, DOLLAR, BANK, BANKS, FORT KNOX, CREDIT, DEBT, CREDIT CARD, LOAN, DEPOSITS, CURRENCY, GREENBACK, GOVERNMENT, COLONIES, STOCK, BANKING, DEUTSCHEBANK, TRADING, MARKETS, ASSETS, INVESTMENT, TREASURY, NYSE, TRADES, PLANTATIONS, MARKET, BANKNOTES, VAULT, ROOSEVELT, PROFITS, COLONISTS, TAXATION, TAX, RICH, REVENUE, MINT, MERCHANTS, INVESTORS, GOVERNMENTS, FORGERY, CRASH, CASH, BANKER

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A loan is a contract. In order for a contract to be legal, both parties must provide “consideration.” This is a legal term which means both parties are putting something up as collateral, and if one party were to re-neg on the deal, the other party would thereby incur a liability, or loss of some real property, be it money, a house, a car, etc. In a simple case, Johnny has a dollar and Susie wants a toy. She asks Johnny if she may borrow the dollar to purchase the toy. He agrees, adding that if she doesn’t pay him back the dollar in a week, he can take the toy. She agrees, the exchange is made and the toy is purchased. In this case, a contract has been made where Johnny has put up a dollar and Susie has put up the toy. Both parties have “consideration” and each party stands to lose something real if the other one fails to fulfill their contractual obligation. In the case of a mortgage loan, however, both parties do not have consideration. While the bank is SUPPOSEDLY putting up money, and the individual is putting up a house, in actuality, the bank is NOT putting up any real money. The banker is NOT going to the vault, reaching in, and grabbing some actual money, and then handing it over to the would-be home-owner. When the loan paper is signed, the “money” to purchase the house is CREATED FROM NOTHING, BY BANK ENTRY ONLY. Therefore, the bank is not actually putting up anything for “consideration” in the contract, and it doesn’t stand to lose any real property if the loan is not paid back. Therefore, this is an illegal contract. The home-owner is not obligated to pay back money which DIDN’T EXIST before the loan paper was signed. In Minnesota, in 1969, Jerome Daly was facing foreclosure on his house. He took the bank to court, claiming the bank had no consideration and therefore, the contract was not legal. Under oath, the bank president, Mr. Morgan, admitted that the $14,000 provided to Daly to purchase his house was created by book-keeping entry alone, and the money and credit came into existence when the bank created it. He also agreed that no US law or statue gives the bank the right to do this. The Jury found there was no lawful consideration by the bank and the Judge agreed. The court rejected the bank’s claim for foreclosure and Mr. Daly was ALLOWED TO KEEP HIS HOME! The situation is the same for most credit cards. When you sign up for a line of credit, the “money” created is counterfeit and an illegal form of consideration, and thus voids the contract to repay! No one is actually handing you any real property, in this case, real money. The credit is created out of thin air by the bank issuing the card. The bank has provided no consideration. This is an illegal contract; the credit card issuer has not incurred any liability. Therefore, the credit card user has no legal obligation to pay back any real money to anyone! Now, the fact that this kind of trickery and theft has gone on for decades, without anyone explaining it to us, is DEVIOUS and DANGEROUS.

http://www.youtube.com/watch_popup?v=iKRKZqdgBXg

http://www.campaignforliberty.com/blog.php?view=31177

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