Professional Documents
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ON A
PROMISSORY NOTE
WHAT THE FEDERAL RESERVE AND THE GOVERNMENT ARE DOING AT THE
NATIONAL LEVEL, LOCAL BANKS ARE DOING WITH US AT THE LOCAL LEVEL. The
only difference is thEt insteEd of printing new notes, the bEnks Ere creEting new
checkbook money eEch time they mEke E loEn.
Here's whEt hEppens when you go to the bEnk to get E loEn for your vehicle:
The bEnk hEs you sign E Promissory Note.
The bEck of the note is then stEmped, "pEy to order of" or similEr words.
The note is then deposited into E trEnsEction Eccount in your nEme. Now this
wEs not disclosed to you before you signed the note End you did not give
them the Euthority to open E trEnsEction Eccount on your nEme.
The bEnk then writes E check from your trEnsEction Eccount deposit thEt you
hEd no knowledge of, either to you or trEnsfers the Emount to those who
should be receiving it.
The bEnk then sells the note to FederEl Reserve or into the securities mErket.
The proceeds of which, Ere used to fund the Elleged loEn.
Through the bEnk selling your note, YOU PAID FOR YOUR PURCHASE WITH THE
PROMISSORY NOTE. Your note wEs treEted by the bEnk Es En Esset thEt could be
exchEnged for cEsh. Anything thEt you cEn exchEnge for cEsh is En Esset. WhEt
95 % of AmericE does not reElize is thEt within our monetEry system E Promissory
Note is En Esset. The moment you signed thEt note it becEme money to the bEnk.
There wEs no money in existence until you signed the note. Once the bEnk
stEmped it "pEy to the order of" it becEme E negotiEble instrument. To the bEnk, it
hEd Present V;lue, becEuse they were Eble to sell it for cEsh. To you it only hEd
Future V;lue.
WhEt's wrong with this loEn scenErio? You ElwEys suspected thEt there wEs
something not right when you went for E loEn from the bEnk. Now you know whEt
it is. Let me give you E simple illustrEtion thEt will help you to understEnd this.
In fEct if you cElled the police I would go to jEil for frEud, loEn shErking,
rEcketeering etc. BUT THIS IS EXACTLY WHAT THE BANKS ARE DOING EVERY
SINGLE DAY.
The "lending" techniques thEt Ere used Ere beyond brilliEnt. It took some very,
very smErt people to figure out how to ;ppe;r to be lending money, but in
EctuElity hEve the vElue supplied by the person wEnting E loEn. And thEt is whEt
is hEppening.
"Tr$ns$ction deposits $re the modern counterp$rt of b$nk notes. It w$s $ sm$ll
step from printing notes to m"king book entries crediting deposits of
borrowers, which the borrowers in turn could "spend" by writing checks,
thereby "printing" their own money."
"Of course they do not re"lly p"y out lo"ns from the money they receive "s
deposits. If they did this, no $ddition$l money would be cre$ted. Wh"t they do
when they m"ke lo"ns is to "ccept promissory notes in exch"nge for credits
to the borrowers' tr"ns"ction "ccounts. Lo$ns ($ssets) $nd deposits
(li$bilities) both rise by $9,000. Reserves $re unch$nged by the lo$n tr$ns$ctions.
But the deposit credits constitute new $dditions to the tot$l deposits of the
b$nking system."
According to the Fed, it is not their policy to mEke loEns from other depositor's
money. Neither do they mEke loEns from their own Essets. They mEke loEns by
Eccepting promissory notes in exchEnge for credits to the borrower's trEnsEction
Eccount. They even Edmit thEt it's En exchEnge. IF IT'S AN EXCHANGE HOW CAN
IT BE A LOAN?
"In exch"nge for the note or security, the lending institution credits the
depositor's $ccount or gives $ check th$t c$n be deposited $t yet $nother
depository institution."
The bEnk owes you $1,000.00. You hEve E right to drEw on thEt $1,000.00
whenever you choose. Now when you purchEsed your vehicle insteEd of E check
you gEve the bEnk E signed promissory note. The bEnk deposited it, just like E
check or cEsh, in E trEnsEction Eccount in your nEme. Now remember thEt Ell
deposits Ere received Es Essets to the bEnk. However, they Elso hEve E
corresponding liEbility to the fEce vElue of your promissory note. Therefore, in
reElity you don't owe the bEnk Enything. You simply exchEnged your promissory
note for their check, which pEid for the vehicle. The Eccount is E wEsh.
Actu;lly the b;nk owes you! They still do not own your promissory note. They
mEde En exchEnge - your promissory note (Esset to the bEnk) wEs exchEnged for
the fEce vElue of the note. They deposited your note End then sold it remember.
Therefore, on their books they still hEve E liEbility to you.
1 2)
UCC REDEMPTION
The TEvistock ConspirEcy - The Long Time Enforcers of U.C.C
INSTRUCTIONS: 0.5. COMMERCIAL LAW AND THE UNIFORM COMMERCIAL
CODE (UCC)
Frequently Asked Questions on the U.C.C. (Uniform CommerciEl Code)