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Welcome to Sovereign Trust

Meet the bottom feeders

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Warning: This information is not intended to constitute legal advice and should not be relied upon in lieu of consultation with appropriate legal advisors in your own jurisdiction. It may not be current as the laws in the area of informed consent change frequently.

The process of confiscation and illegal siezure of money and property starts with the banks' illegal creation of money and ends with the bottom feeders - the debt collectors who prey on those who are down and out. The debt collectors, comprised of lawyers and debt collection agents feed on the accounts that have been written off by the banks. The debt collection process starts from the banks' own collection departments as soon as the accounts becomes delinquent. The banks' own collection agents start sending written notices and reminders to let you know that you have missed a few payments or soon after, they let you know that your account is past overdue. They still have to do this inspite of the fact that the banks actually never loaned you any money and the loan was nothing but a scam, a fraudulent scheme to turn you into a debt slave and then confiscate your property despite the fact that they never really risked or lost any money in the process. They had to go through the charade not because they have lost any money or that they could lose the money because you cannot pay your so-called debts, but the real reason is: they don't want to blow their cover! So they go on pretending, threatening you in the process, that they will report the matter to the credit bureau and thus ruin your credit, or that they are going to take legal action against you. Usually it's all smoke. Other than the fact that they will report you to the credit bureau, if they haven't done it already, they don't normally take anyone to court just yet. Debt collectors cannot take you to court simply because you do not have a contract with them and they do not own the accounts.

The next step is the bank writing off the delinquent account, usually after six months. The reason is, it is very expensive and time consuming for the banks to do debt collection themselves and therefore they prefer to throw the account into the "pile", or the delinquent account database just like garbage being thrown overboard from a ship, where the bottom-feeding creatures feast on the garbage. Once the account is in the database and fully accessible to the debt collectors, they sign in on the account one at a time and start their dirty work. Some credit card companies like MBNA employ its own army of debt collection agents and staff lawyers who do nothing but debt collection work. These corporations seldom use outside collection agents to do the dirty work, they prefer to do it themselves. Most banks however simply assign the debt collection work to the debt collection agencies. Some collection agencies actually buy or trade accounts.

What to do when the debt collectors start bugging you.

Number one is: never, never ignore them, especially when the banks start the collection process. You meet them head on by replying to their collection letters. Do not reply to them over the phone, this is useless, unless you are able to record your conversation with them. First thing to do is dispute the amount in writing, never admit that you owe them anything because you really don't. Because they never really gave you any valuable consideration, they never could have lost anything; you have to ask them for a proof of loss; you also ask them for a certified or notarized copy of the contract between you and the bank; ask them to return the original promissory note or loan application they got from you. Chances are they do not have it. Why? Because the contract does not exist; or they may have already sold your contract to others in the form of asset-backed securities or other derivatives. There is no contract. What they call a contract is the loan application they took from you. That is not a valid contract. A valid contract must be signed by two parties; the bank never signed anything with you. There is no such thing as a unilateral contract. In the case of a credit card agreement, the contract is the credit card holder agreement is nothing but an agreement between you and the bank which enables them to charge you an annual fee for using the card. But as far as loans are concerned, there is no such thing as a loan contract. Because if there is, it would not be hard to show that they have breached the contract for non-disclosure of material fact, or the fact that they have not loaned you any money.

It is very important for you to do these initial steps because you are establishing for yourself the evidence that you can use in a court of law should the banks or their agents (lawyers) decide to escalate the matter and take you to court. The idea is to accumulate enough evidence that the banks have failed or refused to provide you with any verifiable evidence that you owed them anything. Once they failed to produce the evidence you need, that in itself should discharge their claim - they have no claim.

Once you have the evidence that the principal or the creditor has no verifiable claim, their lawyers and debt collection agents would not have any verifiable evidence either and therefore these third parties or agents have no legal standing to bother you. The biblical principle that says: "no man is greater than his master" applies here. If the principal has no claim, no one else have any claim, simple as that, so do not be afraid of them.

Basic FAQs About The Banks' Illegal Practice

Q: What is the basis of your claims against the banks, and why do you say that the banks are engaged in fraudulent and illegal practice?

A: Our statement of claim explains a lot, however, essentially, when you go to the bank to borrow money, they don't really lend you any money (or not the kind of money that we can see, feel and touch such as gold or legal tender bank notes). Not only do you not receive any money, but the "money" or "credit" that you receive actually comes from you - from the promissory note or commercial instrument which you yourself "validate" by signing the document. The bank takes this instrument which you just created (your own money) from you and the bank deposits this money into their account. They then make a ledger or computer entry into your account and claim they loaned you the money. This is illegal because there is no law in Canada that empowers these corporations to create money out of nothing. Only God can create something out of nothing.

In the above example, the money "loaned" to you by the bank actually came from you. The bank provided no equity in the transaction; the bank never risked anything, nor lost anything and never would have lost anything. The bank was only supposed to keep your money (the promissory note) as collateral, in case you default. But what they do not tell you is that they took your promissory note or commercial instrument and converted it for their own use. They unlawfully enriched themselves, and this is illegal.

Q Why do you say the money or credit comes from me?

A: Because that is the truth - the money, or the bank note that we have in circulation today is nothing but a promissory note, it is not real money, but rather a piece of paper, that says the government of Canada (or the U.S.A.) owes us the money, because after they took the gold out of circulation, there is really no money left, and therefore there is nothing to pay our debts with! All we have is the government's promise to pay - worthless IOUs that is not backed with anything other than the government's coercive force which dictates to us that we have to accept this form of "money" or we get nothing for our labour.

The banks have no "credit", the credit comes from us. This credit is backed by our labour, our ability to repay whatever we may borrow. But the banks, the lawyers, the accountants and of course, the bottom feeders - debt collectors do not tell us that. The banks lie to us each time we borrow money because they really do not lend us any money. And whatever money they lend to us is ours to begin with, or at least the money did not come from their vaults as in the case of electronic or digital money.

Q: Where does the bank get the money to lend to their borrowers?

A: They use God's money, or money they create out of nothing, out of "thin air," from the sky - they have unlimited sources, made possible by stupid, gullible and trusting people like you and me who are led to believe that they are lending us their own money, or money deposited by their clients in their chequing or savings account. The banks really do not have any money or assets to lend. Money is created each time a borrower signs a promissory note which is then deposited into their account as "cash." Banking regulation does not permit the banks to lend their depositors' money. This cash value is then used by the bank to increase their book asset by the amount that is equivalent to the loan. It is not as though the bank had this money sitting in their vault waiting for someone to come along and borrow that money. The fact is, prior to the loan agreement, when we come to the bank to borrow money, the money did not exist. Therefore the money had to come from somewhere.

In the old days, when banking used to be honest and honorable, only those who have money can engage in the business of lending money. That was when the banking business used to operate just like any other business. If the bank did not have the money, they have to get the money from the central bank or another bank, rent the money at wholesale (low interest) and then lend the money at retail (higher interest) to the borrower. They cannot create unlimited amounts of money like they do now. It is true, banks were allowed to issue debt certificates, or notes, but these are really not intended to be circulated as money.

In recent times, since 1991, banks in Canada are no longer required to have money in order to lend money. You might say: "duh?" But that is true. This is called the zero reserve banking system. This is because there is really no such thing as money. So when you want to borrow money, you just go to one of these banks who does not have any money to lend, and they'll create money right in front of you, just like magic. Just sign a promissory note or loan application form and voila! With one quick computer entry, you now have money sitting in your account! Or the bank issues a cheque payable to you even though these cheques are not backed by any currency or legal tender money.

WARNING: Don't do this at home, do not write cheques without sufficient funds or you will be arrested and charged for the crime of false pretence under the Criminal Code. Only the banks are permitted (not by law) to write cheques with absolutely no funds and yet get away with it and then charge interest on these counterfeit, non-existent monies at criminal interest rates.

You may search for yourself in the Revised Statutes of Canada, Bank Act (1991 c.46) http://laws.justice.gc.ca/en/B-1.01/ whether or not you will find any provision that Canadian Banks can lawfully create money of any kind. Banks can only legally do two things - take deposits and make loans. Their corporate charter or power is very limited. Nowhere in the Bank Act or the Canadian Constitution does it say that banks can lawfully or legally create money out of nothing and then lend us this counterfeit, non-existent money and charge us interest for it.

Only the Parliament of Canada (just like the American Congress) can legally create money. http://laws.justice.gc.ca/en/const/ See under Part IV Legislative Powers, Section 91.14 - Currency and Coinage; 91.15 - Banking, Incorporation of Banks and the Issue of Paper Money; 91.20 - Legal Tender. So you see folks, only the Parliament can create and issue money, no one else, not even the Central Bank - Bank of Canada is duly authorized by law to create money. Also see: British North America Act 1867 (The BNA). http://www.solon.org/Constitutions/Canada/English/ca_1867.html

For more research materials regarding the Canadian Constitution and other related acts of government clickhere: http://www.solon.org/Constitutions/Canada/English/

Q. How does the bank really create money?

A: Simple - they just write a cheque, or they make a book or computer entry. The banks don't even have to have any money of their own, one bank writes a cheque, the other banks have to accept it - according to the Canadian Payments Association clearing rules. This acceptance by the other banks (although they are all realistically one bank) protects the issuing bank from criminal prosecution for false pretence, an indictable crime punishable for up to 5 years. If no one complains, there is no crime. This is how our legal system works. To understand more regarding this subject from the bank's standpoint, please read Modern Money Mechanics published by the Federal Reserve Bank of Chicago. Remember that the Bank of Canada is considered the "13th Federal Reserve District" and therefore the material applies to the Canadian Banking system as well.

Lawyer, Gary Fielder explans more in his Google video below:

http://video.google.ca/videoplay?docid=-4020719354420953428&hl=en

http://www.worldnewsstand.net/money/mmm2.html

You may also download the book HOW I CLOBBERED EVERY BUREAUCRATIC-CONFISCATORY AGENCY KNOWN TO MAN by Mary Elizabeth: Croft, an excellent book which you can have for free: http://mhkeehn.tripod.com/marysbook.pdf

More Mary Croft writings: http://SpiritualEconomicsNow.net/

Click here for more stuff: http://www.newmediaexplorer.org/sepp/2005/04/19/canada_class_action_accuses_banks_of_illegal_creation_of_money.htm

://www.monies.cc/ http://www.prosperityuk.com/


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