Banks are businesses and just like any other business they are bust
whenever liabilities exceed assets. Of course signs that this
situation is in danger of arising are apparent before it
materialises.
Its at that point that banks seek interventions either by investors
or
governments.


If they fail of course then they reach the point where they must
cease
trading. That would be calamitous. Not only would savers lose access
to their money (even a government guarantee takes time to put into
effect) but worse than that companies would lose their operating cash
and reserves. They would not be in any position to pay either their
bills or wages. They would soon be following their bank into
insolvency.


It's for this reason that governments really have no alternative but
to intervene. They intervene either by loaning money (usually at
punitive rates of interest) or by buying shares in the bank specially
created for the purpose (diluting the holdings of existing share
holders) . Ultimately the banks will recover their profitability and
the loans will be repaid. The improved fortunes of the bank
should enhance the value of its shares which can then be sold back to
the market at a profit.


Money from thin air, a true account of how banks manipulate the system
for
their own nefarious greed and I don't buy into the bull**** that the
banks
were ever in any trouble in this country or any other, it's a scam,
smoke
and mirrors illusion. I hope you take on board Melanie the piece below
and
how ALL banks around the world less the Islamic ones operate


Banking is a SCAM at Every Level


Kevin Boyle - No One To Vote For November 20,2010


A doubt or two has been expressed which I have forwarded to Mr O'Dea.
His
response is posted at the end of this article here*. Also, his
evidence is
clearly placed before us( see below). This whole saga beautifully
reveals
the scam at the very heart of all bank lending.


The Personal: Darrell O'Dea


My mother came to over to London from County Longford, father from
Co.
Donegal. I read a book yesterday 'The Blank Of Ireland', free online
here,
that made me proud to be Irish.


Darrell O'Dea begins with a tirade of heartfelt rage against the Bank
of
Ireland and the disastrous effects its parasitical practices had on
generations of his own family. He found himself in the familiar 'death
grip'
('mortgage') to the tune of hundreds of thousands of Euros (by the end
of
the process he entertainingly describes).


His beginning was a decision to try to take control of his own
affairs
rather than continue to roll over and passively comply with the
demands of
the devouring beast tormenting him.


Darrell did not refuse to pay his mortgage.


Instead he wrote a letter to the Bank containing the following:


We will be happy to pay any financial obligation that we might
lawfully owe
as soon as we receive the three documents listed below:


1) Validation of the debt- the actual accounting.
2) Verification of your claim against us, i.e. a sworn affidavit or
invoice.
3) A copy of the contract binding both parties.


What Darrell understood was that it was highly unlikely that the bank
would
be prepared to comply with this entirely reasonable request because
the very
fundamentals of money created as an interest-bearing debt are a
FRAUD.Black's
Law dictionary (9th Edition)


"A knowing misrepresentation of truth or concealment of a material
fact to
induce another to act to his or her detriment."


When anyone takes out a mortgage of £100,000 (say), as soon as the
mortgage
papers are signed the £100,000 is written into the banks books as an
ASSET,
an asset which can be used by the bank as a basis for future
increased
lending.


(The fractional Reserve system allows banks to lend approximately £10
for
every £1 that exists as assets in their books [can we be surprised
that
international banks blow huge bubbles that repeatedly 'pop'?]).


So, if the full sum of the mortgage is IMMEDIATELY paid into the bank
(which
it is) why should anyone be asked to pay interest on a debt that debt
never
really existed as a loss to the bank in the first place?


This is the whole money-out-of-thin-air banking scam in a nutshell.


Needless to say, the Bank of Ireland failed to forward the requested
documents and Mr. O'Dea refused to make his payments until they did
so.


The bank employed all the usual steps of legal intimidation, bailiffs
etc.,
but all to no avail. Mr.O'Dea's responses were legally based at every
stage
and demonstrated to the third parties that their intervention in a
private
dispute was a contravention of the law. The bailiffs (and others)
backed
off.


The full story, all taking place between February and October of this
year
is a highly comical read in places. As Mr. O'Dea's mortgage ballooned
because of all the extra fees the banks were charging for their
intimidatory
actions, he took some aggressive steps of his own. "Darrell O'Dea"
registered his name as a trademark and charged the bank 10,000 Euros
every
time they used it (i.e. every time they sent him a letter).


Near the end of the dispute Mr.'ODea 'owed' the bank in excess of
700,000
Euros and the bank 'owed' Mr.O'Dea 2,032,000 Euros.


The comical thing is that Mr.O'Dea's charges have a sounder legal
standing
than the bank's.


However, to cut a long story short, the rather excellent outcome was
that
'The Bank of Ireland' simply cancelled his mortgage.


Redeemed.


Gone.


Here's the letter they sent him.


What a result!


Darrel you have won my everlasting respect.


I'm sorry if I have 'given away' your story but I think many who will
not
bother to read an 80-page book might read a short article and get the
very
important point.


THERE IS A GOOD REASON WHY MONEY-LENDING AT INTEREST WAS BANNED BY
CHRISTIAN
SOCIETIES FOR THE GREATER PART OF THE LAST TWO MILLENNIA.


1) IT IS A FRAUD AGAINST THE BORROWER.
2) IT DELIVERS MONSTROUS POWER INTO THE HANDS OF THE LENDER.


Our ancestors understood something that we have been conditioned into
forgetting.


Please open this pdf, save it and read at your leisure. In principle
there
is no reason why the criminal banking system cannot be brought down by
large
numbers of people taking exactly the same actions as Mr. O'Dea. In
practice,
one wonders if the courts would honestly follow the law.


It should be understood that the principles involved here apply not
just to
mortgages but to ALL loans taken out with banks.


The loan appears as an asset immediately on the banks books so the
charging
of interest on a non-loss is, again, fraud. As Mr.O'Dea says in an
interview
given here (and below), if you write a letter to the bank with which
you
hold the loan requesting to close your account with that bank and
request an
invoice for that loan, they will never send you such an invoice.


If they were to send you such a document it appears that their actions
move
from being mere deception (a civil matter) to extortion (a criminal
matter).


(I know..


...you couldn't make it up).


The National: Government Bonds


Again, when our government 'borrows' money, it hands over 'Bonds' to
the
value of the money created (out of nothing) by the bank. This Bond is
immediately written as an asset into the bank's balance sheet.


So, again, the bank gets all its money back the moment it 'lends' it.


Therefore, why do we pay interest (that might take a full century to
'pay
back' in the case of the massive sums involved over the last two
years). Our
children (and maybe another 3 generations after them) will pay back
many,
many times the sum we didn't really borrow in the first place.


The International: Ireland's (and everyone else's) Current Bail-Out


Speculators, mostly based in the US, are attacking the Euro to keep
the
dollar strong. The financial mafia have decided that Ireland's banks
needs
to be 'bailed-out' again. It is possible to argue that Ireland's
balance
sheets are little different from many other European countries but
common
wisdom created by the political/media class is that Ireland must take
the
money to prevent collective Euro disaster. It will not stop there.
The
bail-outs will move from one country to another until every country
is
irreversibly in the pitiless and iron grip of the global central
banks.


These 'loans' do not go to the countries involved, they go to the
banks that
hold the various national debts of those countries.


THIS WHOLE SCAM IS SIMPLY A TRANSFER OF WEALTH FROM THE POOR TO THE
RICH.
Wealth and power is being transferred to a tiny oligarchy before our
eyes.


READ THE PROTOCOLS OF ZION. EVERYTHING THAT IS HAPPENING IS IN THERE.


These people already own us, as current events demonstrate, but what
chance
do future generations have when every aspects of their lives, and
therefore
their thinking too, will be controlled (through the media and the
education
system) to serve the interests of those who OWN EVERYTHING.


Start demanding invoices for debts.


Bring down the banks.


Start thinking about realistic alternative systems like 'Social
Credit' or ...

On Nov 24, 3:47 am, harry wrote:
Banks are businesses and just like any other business they are bust
whenever liabilities exceed assets. Of course signs that this
situation is in danger of arising are apparent before it
materialises.
Its at that point that banks seek interventions either by investors
or
governments.

If they fail of course then they reach the point where they must
cease
trading. That would be calamitous. Not only would savers lose access
to their money (even a government guarantee takes time to put into
effect) but worse than that companies would lose their operating cash
and reserves. They would not be in any position to pay either their
bills or wages. They would soon be following their bank into
insolvency.

It's for this reason that governments really have no alternative but
to intervene. They intervene either by loaning money (usually at
punitive rates of interest) or by buying shares in the bank specially
created for the purpose (diluting the holdings of existing share
holders) . Ultimately the banks will recover their profitability and
the loans will be repaid. The improved fortunes of the bank
should enhance the value of its shares which can then be sold back to
the market at a profit.

Money from thin air, a true account of how banks manipulate the system
for
their own nefarious greed and I don't buy into the bull**** that the
banks
were ever in any trouble in this country or any other, it's a scam,
smoke
and mirrors illusion. I hope you take on board Melanie the piece below
and
how ALL banks around the world less the Islamic ones operate

Banking is a SCAM at Every Level

Kevin Boyle - No One To Vote For November 20,2010

A doubt or two has been expressed which I have forwarded to Mr O'Dea.
His
response is posted at the end of this article here*. Also, his
evidence is
clearly placed before us( see below). This whole saga beautifully
reveals
the scam at the very heart of all bank lending.

The Personal: Darrell O'Dea

My mother came to over to London from County Longford, father from
Co.
Donegal. I read a book yesterday 'The Blank Of Ireland', free online
here,
that made me proud to be Irish.

Darrell O'Dea begins with a tirade of heartfelt rage against the Bank
of
Ireland and the disastrous effects its parasitical practices had on
generations of his own family. He found himself in the familiar 'death
grip'
('mortgage') to the tune of hundreds of thousands of Euros (by the end
of
the process he entertainingly describes).

His beginning was a decision to try to take control of his own
affairs
rather than continue to roll over and passively comply with the
demands of
the devouring beast tormenting him.

Darrell did not refuse to pay his mortgage.

Instead he wrote a letter to the Bank containing the following:

We will be happy to pay any financial obligation that we might
lawfully owe
as soon as we receive the three documents listed below:

1) Validation of the debt- the actual accounting.
2) Verification of your claim against us, i.e. a sworn affidavit or
invoice.
3) A copy of the contract binding both parties.

What Darrell understood was that it was highly unlikely that the bank
would
be prepared to comply with this entirely reasonable request because
the very
fundamentals of money created as an interest-bearing debt are a
FRAUD.Black's
Law dictionary (9th Edition)

"A knowing misrepresentation of truth or concealment of a material
fact to
induce another to act to his or her detriment."

When anyone takes out a mortgage of £100,000 (say), as soon as the
mortgage
papers are signed the £100,000 is written into the banks books as an
ASSET,
an asset which can be used by the bank as a basis for future
increased
lending.

(The fractional Reserve system allows banks to lend approximately £10
for
every £1 that exists as assets in their books [can we be surprised
that
international banks blow huge bubbles that repeatedly 'pop'?]).

So, if the full sum of the mortgage is IMMEDIATELY paid into the bank
(which
it is) why should anyone be asked to pay interest on a debt that debt
never
really existed as a loss to the bank in the first place?

This is the whole money-out-of-thin-air banking scam in a nutshell.

Needless to say, the Bank of Ireland failed to forward the requested
documents and Mr. O'Dea refused to make his payments until they did
so.

The bank employed all the usual steps of legal intimidation, bailiffs
etc.,
but all to no avail. Mr.O'Dea's responses were legally based at every
stage
and demonstrated to the third parties that their intervention in a
private
dispute was a contravention of the law. The bailiffs (and others)
backed
off.

The full story, all taking place between February and October of this
year
is a highly comical read in places. As Mr. O'Dea's mortgage ballooned
because of all the extra fees the banks were charging for their
intimidatory
actions, he took some aggressive steps of his own. "Darrell O'Dea"
registered his name as a trademark and charged the bank 10,000 Euros
every
time they used it (i.e. every time they sent him a letter).

Near the end of the dispute Mr.'ODea 'owed' the bank in excess of
700,000
Euros and the bank 'owed' Mr.O'Dea 2,032,000 Euros.

The comical thing is that Mr.O'Dea's charges have a sounder legal
standing
than the bank's.

However, to cut a long story short, the rather excellent outcome was
that
'The Bank of Ireland' simply cancelled his mortgage.

Redeemed.

Gone.

Here's the letter they sent him.

What a result!

Darrel you have won my everlasting respect.

I'm sorry if I have 'given away' your story but I think many who will
not
bother to read an 80-page book might read a short article and get the
very
important point.

THERE IS A GOOD REASON WHY MONEY-LENDING AT INTEREST WAS BANNED BY
CHRISTIAN
SOCIETIES FOR THE GREATER PART OF THE LAST TWO MILLENNIA.

1) IT IS A FRAUD AGAINST THE BORROWER.
2) IT DELIVERS MONSTROUS POWER INTO THE HANDS OF THE LENDER.

Our ancestors understood something that we have been conditioned into
forgetting.

Please open this pdf, save it and read at your leisure. In principle
there
is no reason why the criminal banking system cannot be brought down by
large
numbers of people taking exactly the same actions as Mr. O'Dea. In
practice,
one wonders if the courts would honestly follow the law.

It should be understood that the principles involved here apply not
just to
mortgages but to ALL loans taken out with banks.

The loan appears as an asset immediately on the banks books so the
charging
of interest on a non-loss is, again, fraud. As Mr.O'Dea says in an
interview
given here (and below), if you write a letter to the bank with which
you
hold the loan requesting to close your account with that bank and
request an
invoice for that loan, they will never send you such an invoice.

If they were to send you such a document it appears that their actions
move
from being mere deception (a civil matter) to extortion (a criminal
matter).

(I know..

..you couldn't make it up).

The National: Government Bonds

Again, when our government 'borrows' money, it hands over 'Bonds' to
the
value of the money created (out of nothing) by the bank. This Bond is
immediately written as an asset into the bank's balance sheet.

So, again, the bank gets all its money back the moment it 'lends' it.

Therefore, why do we pay interest (that might take a full century to
'pay
back' in the case of the massive sums involved over the last two
years). Our
children (and maybe another 3 generations after them) will pay back
many,
many times the sum we didn't really borrow in the first place.

The International: Ireland's (and everyone else's) Current Bail-Out

Speculators, mostly based in the US, are attacking the Euro to keep
the
dollar strong. The financial mafia have decided that Ireland's banks
needs
to be 'bailed-out' again. It is possible to argue that Ireland's
balance
sheets are little different from many other European countries but
common
wisdom created by the political/media class is that Ireland must take
the
money to prevent collective Euro disaster. It will not stop there.
The
bail-outs will move from one country to another until every country
is
irreversibly in the pitiless and iron grip of the global central
banks.

These 'loans' do not go to the countries involved, they go to the
banks that
hold the various national debts of those countries.

THIS WHOLE SCAM IS SIMPLY A TRANSFER OF WEALTH FROM THE POOR TO THE
RICH.
Wealth and power is being transferred to a tiny oligarchy before our
eyes.

READ THE PROTOCOLS OF ZION. EVERYTHING THAT IS HAPPENING IS IN THERE.

These people already own us, as current events demonstrate, but what
chance
do future generations have when every aspects of their lives, and
therefore
their thinking too, will be controlled (through the media and the
education
system) to serve the interests of those who OWN EVERYTHING.

Start demanding invoices for debts.

Bring down the banks.

Start thinking about realistic alternative systems like 'Social
Credit' or ...

Andy comments:

I think you should ask someone at your local Home Depot.
Often the sales people there know a great deal about home repair......

...... or, you could ask someone at a bank.

Andy in Eureka, Texas

harry wrote:
Banks are businesses and just like any other business they are bust
whenever liabilities exceed assets. Of course signs that this
situation is in danger of arising are apparent before it
materialises.
Its at that point that banks seek interventions either by investors
or


They are all crooks. Never bail out a bank.


--
LSMFT

Simple job, assist the assistant of the physicist.

Credit Unions are the only way to go. I never trust banks.

On Nov 24, 7:34*am, "SBH" wrote:
Credit Unions are the only way to go. I never trust banks.

This is actually a comment on the lengthy disquisition by "Harry" that
started this thread.
He wrote, in part:

THERE IS A GOOD REASON WHY MONEY-LENDING AT INTEREST WAS BANNED BY
CHRISTIAN SOCIETIES FOR THE GREATER PART OF THE LAST TWO MILLENNIA.

1) IT IS A FRAUD AGAINST THE BORROWER.
2) IT DELIVERS MONSTROUS POWER INTO THE HANDS OF THE LENDER.

I found this particularly entertaining, since the Christians who
"banned" money lending in the Middle Ages and even later were all too
happy to borrow from the European Jews . These Jews were forbidden by
the Church to own land to farm it like they did in their original
country. They were also forbidden in most cases to practice the
learned professions or to be in trade. What was left? Money-
lending. The petty rulers of the many small duchies and
principalities preferred to do business with the Jews because their
interest was lower than that of the Christian money-lenders (Yes,
Virginia, they did exist), and they were more honest in their
transactions.

HB

harry wrote in news:f16c0bfd-8efc-486e-b960-
:

Banks are businesses and just like any other business they are bust
................



Yo!, Harry. Lemme hole a dollah. Got cho back. Word.

On Nov 24, 11:26*pm, Higgs Boson wrote:
On Nov 24, 7:34*am, "SBH" wrote:

Credit Unions are the only way to go. I never trust banks.

This is actually a comment on the lengthy disquisition by "Harry" that
started this thread.
He wrote, in part:

THERE IS A GOOD REASON WHY MONEY-LENDING AT INTEREST WAS BANNED BY
CHRISTIAN SOCIETIES FOR THE GREATER PART OF THE LAST TWO MILLENNIA.

1) IT IS A FRAUD AGAINST THE BORROWER.
2) IT DELIVERS MONSTROUS POWER INTO THE HANDS OF THE LENDER.

I found this particularly entertaining, since the Christians who
"banned" money lending in the Middle Ages and even later were all too
happy to borrow from the European Jews . *These Jews were forbidden by
the Church to own land *to farm it like they did in their original
country. *They were also forbidden in most cases to practice the
learned professions or to be in trade. *What was left? *Money-
lending. *The petty rulers of the many small duchies and
principalities preferred to do business with the Jews because their
interest was lower than that of the Christian money-lenders (Yes,
Virginia, they did exist), and they were more honest in their
transactions.

HB

It's not my essay. I copied from another thread. But I thought it
was quite interesting for Americans too. Bit heavy reading but mostly
accurate.

On Nov 24, 11:55*pm, Red Green wrote:
harry wrote in news:f16c0bfd-8efc-486e-b960-
:

Banks are businesses and just like any other business they are bust

...............

Yo!, Harry. Lemme hole a dollah. Got cho back. Word.

Hey yo a banker den? Doncher think we nos all aboucher y'all?

On Wed, 24 Nov 2010 23:49:56 -0800 (PST), harry
wrote:

On Nov 24, 11:55Â*pm, Red Green wrote:
harry wrote in news:f16c0bfd-8efc-486e-b960-
:

Banks are businesses and just like any other business they are bust

...............

Yo!, Harry. Lemme hole a dollah. Got cho back. Word.

Hey yo a banker den? Doncher think we nos all aboucher y'all?

The problem with banking and lending starts when money becomes a
comodity instead of a means of exchange.
This leads to money being made by moving money.
You don't make grain by moving grain, or lumber by moving lumber.
Moving automobiles does not produce more automobiles, yet shifting
money around increases the amount of money in a man's hands.

Then man gets lazy and crooked, devizing more ways to make more money
by moving it in different ways.

On Nov 25, 9:32*pm, wrote:
On Wed, 24 Nov 2010 23:49:56 -0800 (PST), harry
wrote:

On Nov 24, 11:55*pm, Red Green wrote:
harry wrote in news:f16c0bfd-8efc-486e-b960-
:

Banks are businesses and just like any other business they are bust

...............

Yo!, Harry. Lemme hole a dollah. Got cho back. Word.

Hey yo a banker den? Doncher think we nos all aboucher y'all?

*The problem with banking and lending starts when money becomes a
comodity instead of a means of exchange.
This leads to money being made by moving money.
You don't make grain by moving grain, or lumber by moving lumber.
Moving automobiles does not produce more automobiles, yet shifting
money around increases the amount of money in a man's hands.

Then man gets lazy and crooked, devizing more ways to make more money
by moving it in different ways.

Exactly so. Money is a represenatation of wealth. Wealth can only be
created by work. Any attempt to dreate it out of thin air is doomed to
failure. All that happens is than the money becomes worth less.

Yes, there are those smart enough to comment.

Thread RESOLVED.