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The Fraud of Bank Credit

Here’s how it works. When you walk into a bank looking to receive a loan to buy a house, car or what have you, a loan application is needed. On this loan application you list your identifying information, the amount needed, and a promise to pay back the loan over a period of time. This is a contract, and a negotiable instrument – it’s money. The local bank then takes this bond, and goes to the Federal Reserve Bank to have it converted to Federal Reserve Notes. These FRN’s are also negotiable instruments, they are I.O.U.’s from the UNITED STATES OF AMERICA to the Federal Reserve. In other words they are a promise to pay, exactly like what you just filled out at the bank. The bank then gives you the loan amount (which it did not have before you signed the application) and charges you interest for the ‘risk’ you are burdening the bank with.



Here’s the problem with this whole scheme: it’s a deceptive fraud. The Bank never lent you any money, all they did was act as transfer agent. The Federal Reserve didn’t lend you any money either, they merely accepted your loan application as valid tender; money. And since none of this was fully disclosed to us, it is a contract made without full disclosure; it is null and void.” – END OF EXCERPT.
This means that all bank loans are fraud due to misrepresentation. The bank falsely claimed the funds were lent to us. But in order to use this knowledge, we must understand how to negotiate an honorable contract. One way to do this is to recognize how dishonorable and deceptive contracts have become in society.