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some fuck spammed me with this..

(Did you know that there are existing laws, policies and procedures that banks and other financial institutions are REQUIRED to follow?)

All contracts in this country require full disclosure. Failure to disclose is sufficient grounds to void a contract. These two blatant violations of contract law are sufficient grounds TO LEGALLY CANCEL AND ELIMINATE DEBT.

So how does this apply to your credit card debt? A cursory examination of these laws reveals that modern lenders BREACH their contract with EVERY SINGLE CUSTOMER. Banks, credit card companies, and other financial institutions advertise that they are in business of lending money. But this is so false that THEIR OWN ACCOUNTING LEDGER shows the exact opposite is occurring.

What you and the majority of credit card holders don't realize, is what banks actually do when they approve your credit card application and establish your credit limit. They use your name and signature on the application to CREATE THE MONEY to fund the line of credit you have on your card. In essence, this is YOUR OWN MONEY! Your promissory note (the application) is treated on the banks books as an asset. The bank then uses this "asset" to create new money, and lends this to you at exorbitant interest rates. You have traded an asset for an asset, but now you have to pay pricipal and interest on that asset. This is a great deal for the bank. They have no risk because this is money CREATED by your promissory note, a legal asset. Now they get YOU to pay back your OWN money, plus INTEREST on it. At no time do the banks lend you any of their own money or any of their depositor's money. This is how the banks have created wealth for themselves with no risk of loss.

Here's exactly what's legally wrong with this transaction. The banks have failed to disclose to you, the credit card holder, the exact details of this side of the contract. Their failure to disclose exactly how this contract is structured, and more importantly, how they create the money to fund your line of credit with your credit card... is where the first legal problem lies.

The second legal problem with credit card contract is that they fail again by offering ANY consideration for the asset you have created (your promissory note). All they have given you in return for your legal asset is the opportunity to incur debt and pay interest on that debt.

Your signed credit card application or loan application (promissory note backed by your good credit) is converted into a "cash asset" by the bank. In fact, the bank stamps the back of the credit card agreement/loan application just as it would any other deposit, and then deposits it into what is called a "transaction account" (a special account no different than a checking account that is opened under your name). This account is opened under your name, but without your knowledge or consent.

The bank then returns the cash to you (your "loan"), but also wants you to pay back this "loan" (of your own deposit) as if the bank had loaned you its own money.

For these specific reasons, the bank does not fulfill its part of the loan agreement legally, thus nullifying the contract between the two of you and releasing you from any "repayment" obligation. Despite what you may have been taught, this is the way banks do business and this is what has happened in EVERY single bank "loan" transaction you have ever been involved in.

So the ugly little secret of what the banks are doing is to lend you YOUR OWN MONEY. Then they add insult to injury by charging you exorbitant rates, late fees, and penalties on that money. When banks approve your application they use your name and your signature on that application to create money to fund the card. They take no money (not one single dollar) from their bank or from their customer deposits as is required in this exchange for consideration. The bank, literally, is lending you your own money and charging you for it. What a deal for the bank! Charging you to use your own money and incurring no risk on their part.

The bank, however, actually failed to meet certain specific lending requirements. In fact the bank is operating outside their corporate authority. The laws and case laws are very specific concerning the corporate authority of banks and credit institutions. A banks corporate powers are specifically listed in their corporate charter. And the courts have consistently ruled that banks cannot lend their credit. Because no charter of a bank or credit card company, all of which are corporations, ever gave their permission to lend credit, and Congress never gave them permission to create money. All such loans are unlawful! The legal term is called "Ultra Vires". The collection of interest on credit is in violation of usery laws. All these failures constitute fraud and affects the contract and the process and manner of funding the loan which makes it possible for the process and program to legally cancel your debt.

CASE LAW

Evidences of debt are not money and are not legal tender. (checks, credit cards, lines of credit, demand deposits, credit, letters of credit, and checkbook money) Howard & Foster Co. v. Citizens' Nat. Bank of Union., 33 S.C.202, 130 S.E. 758 Norton Grocery co. v. Peoples' Nat. Bank, 144 S.E. 501, 151 Va 195

"Checks, drafts, money orders, and bank notes are not lawful money of the United States". State v. Neilon, 73, Pac. 3211, 43 Ore. 168

"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

"It is well enough that the people of this nation do not understand our banking and monetary system. For if they did I believe there would be a revolution before tomorrow morning." -Henry Ford