-> SNETNEWS Mailing List Bankers are scared, and do you know why? Do you understand fractional reserve banking? The banking system that is/has been used to destroy/contol America? Do you understand fraud? Well, if you do not understand fraud, just read what follows, and you will start to get a much better picture. But, while you are doing so, you had also better start paying attention. I said that bankers are scared. What follows is not what scares them (they are not aware enough to understand this is coming). What scares the bankers is losing a portion of their deposits, which are used to support their "credit." Do you understand? People are starting to pull cash out of the banks (smart people!). If the banks lose as little as 2% of their deposit base, they will need to start calling in outstanding loans at the rate of about TEN TO ONE; for every dollar going out the door, they have to call in ten dollars in loans. A mathmatical impossibility. This is why every nation which has permitted fractional reserve banking has self destructed. Eventually, the people always wise up enough to lose "faith" in the bankers credit. But, those countries did not have the Declaration of Independence, and the people had no recourse. When the following info gets into enough hands, do you suppose this may accelerate the bank's problems, just a little? The American economy is a greatly expanded balloon. It is going to collaspe, or it is going to go boom. What happens to you and your family when the economy stops is strictly dependent on what you do to prepare now. Think about how bad it is going to be in the cities. Then read the following, and get involved. There are solutions being found. You can help, and by helping, you can gain a tremendous amout. What would it mean to your family to have no house payment when things get tough? And no need to pay the so-called property tax? Would it be easier to survive? Your decision. I have sent out enough info over the last several months that you should be getting some clues as to how possible this is. God Bless, David http://kskc.net/public/tmccrory/goingon.htm BANKING & CREDIT: There are some essentials relating to banking and credit that must be understood in order to come to terms with how to successfully discharged bank-originated debt. The first matter is the nature of "credit" extended by Federally chartered and/or Federal Reserve or FDIC-member financial institutions. The first is to grasp what "credit" is, as defined at 15 U.S.C. 1602(e): "Credit" is a grant of authority to defer payment of debt, or create debt then defer payment. For purposes of the Consumer Protection Act, the "creditor" is defined as the financial institution which provides credit, and the merchant who provides goods and services. However, that definition is limited to the Consumer Protection Act itself -- it does not have general application. Where there is a "credit" transaction under auspices of a Federal grant of authority, the financial institution is in all cases operating as "fiscal agent" of the United States, and in most if not all cases, as a "mixed-ownership" (hybrid) United States corporation. The United States is always principal of interest -- the "debt" is ultimately an obligation to the United States, and the United States has the only right of action to recover the debt. The financial institution which originates the "credit" merely services the debt, it is not the principal of interest. The financial institution, whether a national bank, credit union, or whatever, is organized as an "association" to provide basic financial services for qualified association members. These entities deal exclusively in "public money" -- public money is hypothecated "credit of the United States". Therefore, only people who are authorized by law to receive and use "public money" are qualified to be association members. Those authorized by law to receive and use "public money" are officers and employees of the United States, territories and insular possessions subject to sovereignty of the United States, and Indian tribes recognized by United States Government. See limiting provisions at 31 CFR 202(a), and FDIC insurance solely of "public money" accounts at 12 U.S.C. § 1821(a)(2)(A). This is where the Social Security number comes in -- the Social Security number creates a presumption that whoever applies for credit is one of those entitled to custody and use of public money. However, that in and of itself isn’t sufficient to sustain most foreclosures, etc., as the financial institution has no right of action to foreclose consumer or other "credit" obligations. A national banking association may sue and be sued in courts of the several States, but only so far as basic organizational matters are concerned. Under organization charters, these institutions may provide only basic services such as checking accounts for qualified association members. They may own property necessary to conduct business and the like. To go beyond that, they must apply to become, and be licensed as Federal Tax & Loan Depositaries, and Treasury Depositaries (31 CFR 202 & 203). Only then can they apply to become Federal Home Loan Banks, Farm Credit Banks, etc. When they function in these capacities, they operate in Federal agency capacity, and the United States is at all times principal of interest. They are subject to all Federal statutory and regulatory mandates and prohibitions, including mandates for Privacy Act and Paperwork Reduction Act disclosures. If and when there is a "credit" default, there must be administrative collection process in accordance with HUD and other applicable regulations. The Secretary of HUD is responsible for appointing an agent in any given HUD district, and where defaults are concerned, he has responsibility for pursuing administrative remedies. Ultimately, however, there must be a determination of liability by the Director of the General Accounting Office (31 U.S.C. 3526 & 3702; 5 U.S.C. 5512) when and if the obligation is contested before any "debt" can be foreclosed. The Attorney General, in his capacity as Solicitor of the Treasury, must then initiate litigation for debt recovery. The Attorney General may do this directly, authorize the United States Attorney for the district to foreclose, or contract private attorneys. Process for Federal debt collection must be initiated in a court of the United States, as defined at 28 U.S.C. § 610. Procedure is prescribed in Chapter 176 of Title 28 (28 U.S.C. 3001 et seq.). Where financial institutions have initiated foreclosures and the like in state courts, the case should be vacated and dismissed with prejudice for lack of subject matter jurisdiction. Subject matter jurisdiction can be raised at any time -- there is no statute of limitations. Tax-related garnishment, etc., is also covered in Chapter 176 of Title 28. -> Send "subscribe snetnews " to [EMAIL PROTECTED] -> Posted by: David Gould <[EMAIL PROTECTED]>
