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Date:
c/o
cc:
cc:
Re: Revised banking practices and new opportunities
Dear
An avalanche of information has recently come before me that
concerns 1) the true
legal status of the worlds banks and corporate governments and
2) the actual process
that banks use to create credit with the undisclosed use of
borrowers signatures for
the banks benefit.
The purpose of this letter is to give you and an important
opportunity to set new standards of behaviour and intent, as
the banking sector navigates: 1) the new legal landscape as
mentioned above and 2)
new ways of doing business with the public based on transparency
and legitimate
services rendered.
Let me explain
The following quote from an IMF publication categorically states
that the origin of
money loaned by banks actually comes from the borrower:
... under the present system banks do not have to wait for
depositors to appear and
makes funds available before they can on-lend, or intermediate,
those funds. Rather,
theycreate their own funds, deposits, in the act of lending.
This fact can be verified in
the description of the money creation system in many central
bank statements, andit is
obvious to anyone who has lent money and created the resulting
book entries.1
Other excerpts from various Central Bank Statements are just as
clear as to the origins
of money and the creation of credit through standard negotiable
instruments:
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Banks create money when they lend it2 ... banks extend credit by
creating money.3 What they do when they make loans is to accept
promissory notes in exchange
for credits to the borrowers' transaction accounts.4
...credit of promissory notes (money of account) become money
when banksdeposit promissory notes with the intent of treating them
as cash.
5
Commercial banks create checkbook money whenever they grant a
loan, simplyby adding new deposit dollars to accounts on their
books in exchange for a
borrower's IOU.6
From these quotes it is obvious that the use of promissory notes
as credit i.e. cash, is
not only legal but also widespread in the industry, a fact not
generally known by the
public. I will come back to this in a moment.
As mentioned above, it has also come to my attention that
according to recent Uniform
Commercial Code filings, all the worlds banks (including ) and
corporate governments are foreclosed, and therefore
all and any alleged debt is cancelled. (Please see attachment
for links to the UCC filings).
The reason I am writing to you is to let you know that I have a
meeting booked with my
local branch manager, with the objective of ensuring they are
made aware of the recentforeclosures, how the nature of banking and
borrowing has been forever changed and
that people are now able to access any additional value they
require, for whatever
purpose, using the banks existing money creation practices.
I will then be providing the manager with the necessary
documentation to open a new
account with your bank, accompanied by a Promissory
Note/Declaration of Value of
Deposit to be used as funding to open that account. I will also
give them the
opportunity to continue to provide banking services to myself,
under a revised set of
Terms and Conditions that ensures the bank still receives fees
from any transactions we
may have, whilst maintaining complete transparency and integrity
in those dealings.
Please let your branch managers know, so they and your other
agents are prepared and
awakened to the facts as they stand today, because, as more and
more of your
customers and the general public become aware of the above
matters, many will be
seeking to do business with you, only in new and exciting
ways.
Finally, this is an open invitation to you personally, to become
one of the fore-runners in
pioneering these new standards in the banking and financial
sector in
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country>>, and we look forward to a meeting of the public
and financial sectors hearts
and minds, to create a mutually beneficial partnership going
forward.
Without Prejudice,
Notice to the Principal is Notice to the Agent and Notice to the
Agent is Notice to the
Principal
(as per UCC 1-308 and 1-103)
References:
1. The Chicago Plan Revisited, Jaromir Benes and Michael Kumhof,
IMF Working Paper
August 2012
2. Money Banking & Monetary Policy... Federal Reserve Bank
of Dallas, May 2007
3. Quarterly Bulletin, Q1 Vol 48. No. 1. Bank of England,
2008
4. Modern Money Mechanics... Dorothy M. Nichols - Federal
Reserve Bank of Chicago,
May 1961
5. Walker F. Todd. Affidavit, Chagrin Falls, Ohio, USA, 05 Dec
2003. (20yrs as attorney &
legal officer of Federal Reserve Bank of New York &
Cleveland)
6. I Bet You Thought... Friedman, David H. Federal Reserve Bank
of New York, Dec 1977
