As Donald Trump, along with millions of other Americans, faces ruin through the obligation to repay interest to private banks for loans created out of thin air, he can instruct Attorney General Jeff Sessions to accept in US courts of law the factually and legally correct argument used by Jerome Daly in 1969 to stop the foreclosure of his house.
By doing so he will deal the equivalent of a Death Star blow to the banksters and Globalists, free hundreds of millions of Americans from debt bondage and restore the US Constitution.
In 1969, American lawyer Daly managed to stop the foreclosure of his house by noting that his local bank created his mortgage as a book keeping entry out of thin air. This was something the bank manager Lawrence Morgan was forced to admit during the trial when he was called to testify as part of due process.
The judge agreed that the bank could not obtain something of value, namely Daly’s house if it did not give anything of value.
Fraud vitiates all contracts.
He also ruled that the private creation of money was unlawful and unconstitutional.
On appeal, Mahony’s ruling was overturned but the appeal court gave no reasoned argument for overturning the decision because there is no argument against these facts.
In 1969, there was no internet. Information like this was easy to bury. The story now is very different with the internet.
Compelling private banks to cancel all their debts, whether cred card, mortgages, student or business loans is a necessary step to resetting the financial system. Inflation has to be controlled carefully in the sovereign money model. That means the central bank must sometimes set high interest rates. It cannot do so without crushing the US economy until the vast amount of debt is removed from the system. There is no alternative to debt cancellation on a massive scale.
Trump and Sessions can instruct private banks to cancel all debts or face fines and class action civil and criminal lawsuits for their fraud.
Using the Bradbury Pound, as explained in a blog post below, money can be given directly to the relatively tiny proportion of real world businesses that actually get bank loans.
Read the transcript of the legendary trial at the link
Plaintiff (Credit River bank and its manager Lawrence Morgan) brought this as a Common Law action for the recovery of the possession of Lot 19
Fairview Beach, Scott County, Minn. Plaintiff claimed title to the Real Property in question by foreclosure of a Note and Mortgage Deed dated May 8, 1964, which Plaintiff claimed was in default at the time foreclosure proceedings were started.
Defendant (Jerome Daley, Donald Trump, Jared Kushner etc)) appeared (as part of due process) and answered that the Plaintiff (Credit River bank and its manager Lawrence Morgan) created the money and credit upon its own
books by bookkeeping entry as the consideration for the Note and Mortgage of May 8, 1964 and alleged failure of the consideration for the Mortgage Deed and alleged that the Sheriffs sale passed no title to plaintiff.
The issues tried to the Jury were whether there was a lawful consideration and whether
Defendant had waived his rights to complain about the consideration, having paid on the Note for almost 3 years.
Mr. Morgan (Credit River bank manager) admitted that all of the money or credit which was used as a consideration was
created upon their books, that this was standard banking practice exercised by their bank in
combination with the Federal Reserve Bank of Minneapolis, another private Bank, further that he
knew of no United States Statute or Law that gave the Plaintiff the authority to do this. Plaintiff
further claimed that Defendant by using the ledger book created credit and by paying on the Note
and Mortgage waived any right to complain about the Consideration and that the Defendant was
estopped from doing so.
3. As is evidenced from the book: “The Federal Reserve System; Its Purposes and
Functions,”; (1st Ed.) pages 74 to 78 and 177 and 180, put out by the Board of
Governors of the Federal Reserve System, Washington, D.C., 1963, and from
other evidence adduced herein, the said Federal Reserve Banks and National
Banks create money and credit upon their books and exercise the ultimate
prerogative of expanding and reducing the supply of money or credit in the
United States. See especially page 75 of the Manual.
This creation of money or credit upon the Books of the Banks constitutes the creation of
fiat money by bookkeeping entry.
Ninety per cent or more of the credit never leaves the books of the Banks as the Banks
produce no specie as backing.
When the Federal Reserve Banks and National Banks acquire United States Bonds and
Securities, State Bonds and Securities, State Subdivision Bonds and Securities,
mortgages on private Real property and mortgages on private personal property, the
said banks create the money and credit upon their books by bookkeeping entry. The
first time that the money comes into existence is when they create it on their bank books
by bookkeeping entry. The banks create it out of nothing. No substantial fund of gold or
silver is back of it, or any fund at all.
The mechanics followed in the acquisition of United States Bonds are as follows: The
Federal Reserve Bank places its name on a United States Bond and goes to its banking
books and credits the United States Government for an equal amount of the face value
of the bonds. The money or credit first comes into existence when they create it on the
books of the bank. National Banks do the same except they must have One ($1.00)
Dollar in Credit on hand for every Four ($4.00) Dollars they create.
The Federal Reserve Bank of Minneapolis obtains Federal Reserve Notes in
denominations of One ($1.00) Dollar, Five, Ten, Twenty, Fifty, One Hundred, Five
Hundred, One Thousand, Ten Thousand, and One Hundred Thousand Dollars for the
cost of the printing of each note, which is less than one cent. The Federal Reserve Bank
must deposit with the Treasurer of the United States a like amount of Bonds for the
Notes it receives. The Bonds are without lawful consideration, as the Federal Reserve
Bank created the money and credit upon their books by which they acquired the Bond.
With their bookkeeping created credit, National Banks obtain these notes from the
Federal Reserve banks.
The net effect of the entire transaction is that the Federal Reserve Bank and the
National Banks obtain Federal Reserve Notes comparable to the ones they placed on
file with the Clerk of District Court, and a specimen of which is above, for the cost of
printing only. Title 31 U.S.C., Section 462 (392) attempts to make Federal Reserve
Notes a legal tender for all debts, public and private. See page 72. From 1913 down to
date, the Federal Reserve Banks and the National Banks are privately owned. As of
March 18, 1968, all gold backing is removed from the said Federal Reserve Notes. No
gold or silver backs up these notes.
Key portions of the judgment of Justice Martin Mahoney…
The activity of the Federal Reserve Banks of Minneapolis, San Francisco and the First
National Bank of Montgomery is contrary to public policy and the Constitution of the
United States and constitutes an unlawful creation of money and credit is not warranted
by the Constitution of the United States.
The Federal Reserve and National Banks exercise an exclusive monopoly and privilege
of creating credit and issuing their Notes at the expense of the public, which does not
receive a fair equivalent. This scheme is obliquely designed for the benefit of an idle
monopoly to rob, blackmail and oppress the producers of wealth.
The Federal Reserve Act and the National Bank Act is in its operation and effect
contrary to the whole letter and spirit of the Constitution of the United States, confers an
unlawful and unnecessary power on private parties; holds all of our fellow citizens in
dependence; is subversive to the rights and liberties of the people. It has defied the
lawfully constituted Government of the United States. The Federal Reserve and
National Banking Acts and Sec. 462 (392) of Title 31, U.S.C. are not necessary and
proper for carrying into execution the legislative powers granted to Congress or any
other powers vested in the Government of the United States, but, on the contrary, are
subversive to the rights of the People in their rights to life, liberty and Property. The
aforementioned acts of Congress are unconstitutional and void and I so hold.
The meaning of the Constitutional provision “No State Shall make any Thing but Gold
and Silver Coin a tender in payment of debts” is direct, clear, unambiguous and without
any qualification. This Court is without authority to interpolate any exception.