Page 128 - Fruits from a Poisonous Tree

112 Fruit from a Poisonous Tree

When you make a loan, the money that you borrow is on ledger as a
credit to your account by a journal entry on the creditor’s record. If you
wrote a check on the account and deposited that check in another bank,
Bank Two considers this new money, and it can lend against that deposit at
a ten to one ratio. If Bank Two lends this new money to another individual
who then writes a check on Bank One, Bank One lends against this deposit
at the same ten to one ratio and the multiples of ten to one go on and on and
on to infinity.
The courts or Congress have never repealed that provision in the
Uniform Commercial Code, but go stone cold deaf and blind to the use of
Federal Reserve Notes to pay off debt. When you mortgage your home for
a loan by executing a mortgage deed, whether you receive a credit on your
account or are given the cash (Federal Reserve Notes), you have given the
bank something of value – your promise of labor – in return for nothing of
value.
All across the country, property owners are having their mortgages
canceled because they can prove that no equal consideration was given for
their support of the mortgage. The banks are scared to death you will find
out about this fraud. When a government owns the press and can print an
unlimited number of worthless notes and can borrow with no limit on the
notes it legalizes, there is no need to tax the citizens. The only reason for the
government to go through the ritual of taxing you is to control you. The sole
purpose of the tax they exact from you is to get all of that worthless paper
out of circulation; otherwise inflation would consume the economy within
a matter of months. The Federal Reserve can create inflation or deflation at
its whim. It creates prosperity, inflation or depression anytime it wishes. IT
CONTROLS ALL OF US.
The people in control of the presses (FED) can pay old debts with the
inflated currency. They just keep the presses rolling. Just to survive, the rest
of us are then required to spend all that we have before its devaluation makes
it worthless. Mexico, Argentina and Brazil are prime examples of what awaits
this country. In a central banking system, the only ones who profit are the
owners of the central bank. If our government officials had one honest bone
in their body, which is doubtful, they would buy back the Federal Reserve
franchise and do what they are Constitutionally-required to do: print money
by and for the Treasury, interest free.
Legal taxes on things properly taxable would be ample revenue to secure
that money. It is not a widely published fact, but America has been in
bankruptcy since 1933. (12 USC 9 (a); Executive Orders 6073, 6102, 6111,
6260).