GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Every Chartered Bank in Canada Being Sued for Fraud! American Banks Next!

jayeff · 09-08-2005, 01:17 AM

In the reasoning behind the suit, there are parallels with many other nations, including the US. Americans, living in the richest nation on earth, always seem to be short of money. Wives work, husbands hope for overtime. Even children look for odd jobs to earn spending money. Yet family debt keeps increasing and money problems are the biggest cause of family breakups. This is a direct result of our "debt-money" system and the creation of the Federal Reserve Corporation in December 1913.

When the Federal Government spends more than it collects in taxes, it has to go to the Federal Reserve to make up the difference. This deceptively named private corporation doesn't give money away, but loans it to the government in exchange for an agreement to pay it back with interest. Congress authorizes the Treasury Department to print the required value of US Bonds which are then delivered to the Federal Reserve bankers. They in turn print a matching amount of new money and hand it over to the government to pay its bills. However each time this process is repeated, the US taxpayer goes deeper and deeper into debt (we are the ones ultimately responsible for debts that the government undertakes), such that we are now paying over $100 billion a year in interest alone, with no hope of ever paying off the principal.

The "Fed's" license to print money, generating profits thousands of times greater than its printing costs, is an even bigger scam than it first appears. The Fed can treat those US Bonds, the promissory notes it exchanges as security for its loans to government, as assets. It is allowed to loan up to 15 times their value to states, municipalities, businesses and individuals.

The really pernicious aspect of this system is that new money only enters the system as loans, and for every dollar that is loaned, a much larger debt is created. For example, a 30-year mortage of $100,000 even at a rate as low as 5% pa means total repayments of close to $200,000. In other words, over the lifetime of the loan, almost $100,000 will be taken back out of the system. And guess what that means at regular intervals? Yep. The government has to go back to the Fed and ask it to issue more money...

Oh and remember that until that mortgage is fully repaid, the bank owns "your" property. Thus if you default, it gets real property in exchange for the paper it initially issued. Meanwhile, local banks, like the Fed, are allowed to treat promises to pay as assets and make further loans based on their face value.

Thomas Jefferson warned: "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."

09-08-2005, 01:17 AM
jayeff Confirmed User Join Date: May 2001 Posts: 2,944	In the reasoning behind the suit, there are parallels with many other nations, including the US. Americans, living in the richest nation on earth, always seem to be short of money. Wives work, husbands hope for overtime. Even children look for odd jobs to earn spending money. Yet family debt keeps increasing and money problems are the biggest cause of family breakups. This is a direct result of our "debt-money" system and the creation of the Federal Reserve Corporation in December 1913. When the Federal Government spends more than it collects in taxes, it has to go to the Federal Reserve to make up the difference. This deceptively named private corporation doesn't give money away, but loans it to the government in exchange for an agreement to pay it back with interest. Congress authorizes the Treasury Department to print the required value of US Bonds which are then delivered to the Federal Reserve bankers. They in turn print a matching amount of new money and hand it over to the government to pay its bills. However each time this process is repeated, the US taxpayer goes deeper and deeper into debt (we are the ones ultimately responsible for debts that the government undertakes), such that we are now paying over $100 billion a year in interest alone, with no hope of ever paying off the principal. The "Fed's" license to print money, generating profits thousands of times greater than its printing costs, is an even bigger scam than it first appears. The Fed can treat those US Bonds, the promissory notes it exchanges as security for its loans to government, as assets. It is allowed to loan up to 15 times their value to states, municipalities, businesses and individuals. The really pernicious aspect of this system is that new money only enters the system as loans, and for every dollar that is loaned, a much larger debt is created. For example, a 30-year mortage of $100,000 even at a rate as low as 5% pa means total repayments of close to $200,000. In other words, over the lifetime of the loan, almost $100,000 will be taken back out of the system. And guess what that means at regular intervals? Yep. The government has to go back to the Fed and ask it to issue more money... Oh and remember that until that mortgage is fully repaid, the bank owns "your" property. Thus if you default, it gets real property in exchange for the paper it initially issued. Meanwhile, local banks, like the Fed, are allowed to treat promises to pay as assets and make further loans based on their face value. Thomas Jefferson warned: "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."