0000010482 00000 n There was no money in existence until you signed the note. 0000142025 00000 n THEY loaned you some money (LOAN #1) that paid for a house, for example, in return for your Promissory Note to repay that amount. The proof is in Federal Reserve Bank publications Modern Money Mechanics, page 6, and Public Debt: Private Asset, page 2, and many other publications admit that the banker created new money when the bank used your promissory note as new money … 0000001777 00000 n If the bank, upon checking its records concerning the alleged loan, discovered a mis-take in this transaction, ledgered a correction of said mis-take by settling said alleged loan by recording it as ". As a result of a 2016 court ruling, the issue of any such credit agreement promissory notes to create debt money must be securitized, and securitized note … 0000003624 00000 n Would not a signed letter from an officer of the bank asking for forgiveness of said mis-take be an appropriate gesture of good faith and conclude this matter of an alleged loan? H��U�oE�u�p٭bgf�E6%d��+U�xm�&i��W(�}���}�8W�8�}�wӻ�� B�*ъ�*��ć��Hm��L�T���j�o��ޛ�;Ƌ*AHjA"B�CT��O���G��P��T����^`sI����>)Q�Di� �!Tˣ���� ��e θJ�@t;�~�ۖz�~���O����/�z�V?������;�3�v�������?���i�_�}3�}УLY���M���w����R��ӿ��n�����C��H���)��s�Xw����l����Tc{��L���6��z�]m �ǃ��ª1L�v/ࡡp�p\����2E�.���?�[5�G�z[S���cb«�� ucjǎ_��/+Q/P�4,Ӯҝ�L4�DI�2i���8����ۖ�E^��N#�9�̈aU%tG�U2��0"�n;V����4�bm��(��wf�+J����Fĭ�u�`Mf7���Hb(L݃����+��y��J�h�4��^e[��y�Hh�0�ۮN@#��"{ZT �rtQ�x!�,^OzQL"ՆcZ)=�a̗-oZ�t�h��kK��Я^�*���5��%�q�R ݎc"'>&J�:/(U5��N��SU�|(�u���[6o�TI��!2WPx,�D޾m�M�i"R G��a��v�ڹgo8��ՆkC�練5��A�Ջ�J< |#��+8I3A��C��� (Y��^�1�h��]�Qm��K�b� �f. A Workbook on Bank Reserves and Deposit Expansion. 0000011563 00000 n 0000010459 00000 n 0000008571 00000 n This expansion of the money supply is explained in detail in Modern Money Mechanics published by the Chicago Federal Reserve Bank. The attorney handed the banker FED publication Modern Money Mechanics, marked "Exhibit C". Listen to how he answers the questions. Once the bank stamped it "pay to … 0000064438 00000 n What they do when they make loans is to accept promissory notes in exchange for credits to the borrowers' transaction accounts.” Modern Money Mechanics… In fact, the South African Bills of Exchange Act [as … If they did this, no additional money would be created. What … pg 53, "What they do when they make loans is to accept promissory notes in exchange for credits to the borrowers' transaction accounts." On page 6 of Modern Money Mechanics, the Federal Reserve Bank of Chicago tells us that the banks DO NOT “pay out” the funds for loans from money they received from other depositor’s accounts. Would not the taking of the funds for said deposit from the borrower's transaction account, without the borrower's consent, in effect constitute the converting of said funds into a gift? ... Note… (65) “ Promissory note” means an instrument that evidences a promise to pay a monetary obligation, does not evidence an order to pay, and does not contain an acknowledgment by a bank that the bank has received for deposit a sum of money or funds… If you have any “loan” … On page 6 of Modern Money Mechanics, the Federal Reserve Bank of Chicago tells us that the banks DO NOT "pay out" the funds for loans from money they received from other depositor's accounts. 1) debiting that amount as an ASSET into an "Accounts Receivable" account,  and  then; 2) crediting that same amount as a LIABILITY into an Accounts Payable account, described as ", in order to comply with the Generally Accepted Accounting Principles (GAAP) and also relevant banking regulations that require them, the source of the funds for the Promissory Note, and also to keep the general ledger in balance in a double-entry bookkeeping system, 4) they removed funds from that account without your consent. 0000012411 00000 n Would the FDIC-required Call Reports, especially Schedule RC, disclose a net increase in the bank's assets in the approximate amount of the loans made in the period when my alleged loan was made? (And how he doesn't). It is just an … 0000009554 00000 n MODERN MONEY MECHANICS A Workbook on Bank Reserves and Deposit Expansion Federal Reserve Bank of Chicago This complete booklet is was originally produced and distributed free by: Public … 0000006017 00000 n 0000005333 00000 n If the deposit of the borrower's promissory note increased the bank's Owner's Equity, instead of the bank's Liabilities, would this not constitute said material omission, fraudulent conversion and fraud in the factum if the borrower did not intend to gift said deposit to the bank? 0000064646 00000 n So, if a borrower actually creates money via his promissory note, that is, his signature on a mortgage agreement, could he not discharge his liability with another note… This website is for educational purposes only. Our signature on a promise to pay creates the money in circulation today. The Federal Reserve Bank of Chicago used to publish Modern Money Mechanics. On page 6 of Modern Money Mechanics, the Federal Reserve Bank of Chicago tells us that the banks DO NOT "pay out" the funds for loans from money they received from other depositor's accounts. 0000011070 00000 n 0000007318 00000 n MODERN MONEY MECHANICS. 0000006740 00000 n l7ze approach taken illustrates the changes in bank … If you are then asked WHAT you mean by "irregularities", then direct them to Google ". Modern Money Mechanics • “Of course, they do not really pay out loans from the money they receive as deposits. Nope, it appears that it was not a mistake, because another Federal Reserve Bank of Chicago publication confirms this policy in its booklet entitled ". 0000013113 00000 n They stopped largely because of this quote from Page 6, Last Paragraph: “What they [banks] do when they make loans is to accept promissory … What they do when they make loans is to accept promissory notes in exchange for credits to the borrowers' transaction accounts. 0000004344 00000 n But perhaps this publication's authors were mistaken, and it did not really mean what it plainly stated. According to the Fed, it is not their policy to make loans from other depositor's money. 0000161648 00000 n 0000013090 00000 n "Per Federal Reserve Bank publication 'Modern Money Mechanics', page 6, the bank opened up a checking account under your name and deposited the note. 4520 0 obj << /Linearized 1 /O 4523 /H [ 1922 1726 ] /L 1325908 /E 162057 /N 50 /T 1235388 >> endobj xref 4520 53 0000000016 00000 n DEFINITIONS AND INDEX OF DEFINITIONS. Modern Money Mechanics, page 6, Federal Reserve Bank of Chicago. pg 6, "A deposit created through lending is a debt that has to be paid on demand of the depositor." Truly,We Are The Banks! So since “money” now days means “owing money,” and your promissory note is “legal evidence of a debt or obligation,” (owing money) that counts as “money” and can be deposited. The document identifies the terms of a loan and the parties to the loan, but it doesn’t detail what will happen if the borrower defaults. 0000046974 00000 n 0000011795 00000 n Little do we realize that... We Are The Banks. Modern Money Mechanics • “Of course, they do not really pay out loans from the money they receive as deposits. Having altered the original document, the (now) promissory note is deposited at the local Federal Reserve Bank as new money. If said Call Reports supply enough evidence providing probable cause to believe that a crime has been committed due to a material omission in the alleged loan agreement concerning the deposit and disposition of the borrower's promissory note during the execution of the alleged loan transaction, would you report it to the authorities as required by 18 USC 4, Misprision of Felony? Purchase Money Note means a promissory note of a Receivables Subsidiary evidencing a line of credit, which may be irrevocable, from the Issuer or any Subsidiary of the Issuer to a Receivables Subsidiary in connection with a Qualified Receivables Financing, which note … A promissory note … If they did this, no additional money would be created. However, YOU also loaned them some money (LOAN #2) when they. What … Powered by, What they call "loans" should more properly be called ". A promissory note is a written and signed promise to pay back borrowed money. Modern Money Mechanics The purpose of this booklet is to desmmbe the basic process of money creation in a ~actional reserve" bank- ing system. 0000010046 00000 n As a result of a 2016 court ruling, the issue of any such credit agreement promissory notes to create debt money must be securitized, and securitized note … %PDF-1.3 %���� Awesome Inc. theme. 5) they bundled and monetized your Promissory Note and separated it from the mortgage loan, and how that affected this transaction. it not show a deliberate INTENT to defraud those who are likely ignorant of this policy and its associated benefits and risks when responding to the advertising that the banks make "loans"? 2.3 Although Modern Money Mechanics is a US document, the definition of a promissory note is virtually identical in almost every country in the world. 0000001922 00000 n 0000003648 00000 n The truth is right in front of you. So since “money” now days means “owing money,” and your promissory note is “legal evidence of a debt or obligation,” (owing money) that counts as “money” and can be deposited. Now, to confirm the above for yourself, as your DUE DILIGENCE, politely ask your banker some questions about the information alleged here. 0000006512 00000 n This expansion of the money supply is explained in detail in Modern Money Mechanics published by the Chicago Federal Reserve Bank. 0000008047 00000 n Neither do they make loans from their own assets. 0000007341 00000 n What they do when they make loans is … 0000004550 00000 n 0000004139 00000 n The moment you signed that note it became money to the bank. 0000123115 00000 n 0000005101 00000 n 0000007803 00000 n 0000161583 00000 n 0000009089 00000 n Anyway, all they’ve done … 0000013785 00000 n They make loans by accepting promissory notes in exchange for credits to the borrower's transaction account. 0000049653 00000 n This publication is non-hearsay EVIDENCE that this. 0000009315 00000 n Then the bank withdrew the money from your account without your knowledge, permission or authorization and returned it to you as a loan." 0000008548 00000 n What … The Bank accepts then exchanges your actual cash value Promissory Note from the Credits of your Transaction Account and fraudulently imitates a bank loan to you.. Listen to what the lawyer asks the banker. monetary system a Promissory Note is an asset. Generally Accepted Accounting Principals (the publication governing corporate … 5) they bundled and monetized your Promissory Note and separated it from the mortgage loan, and how that affected this transaction. 0000001415 00000 n 0000006040 00000 n This DEPOSIT is clearly illustrated and explained in the Federal Reserve Bank of Chicago publication (no longer printed) entitled "Modern Money Mechanics… 0000013762 00000 n The banker said, " The promissory note is recorded as a bank asset and a new matching … This booklet explains in detail that in exchange for my signed Note… If you are asked WHY you want this, explain that you have become aware of some "irregularities" that may have occurred during this loan transaction. If they did this, no additional money would be created. Perhaps by quoting and referencing ‘Modern Money Mechanics’, published by the Federal Reserve Bank of Chicago in 1992, I might be able to prove the truth. 0000005783 00000 n 0000012434 00000 n 0000099665 00000 n 0000004507 00000 n Another strategy to induce them to "cooperate" with you is to send a certified letter to the Lender's CFO to ", “The way to outdo England without fighting her” - by Henry C. Carey, Feb 13, 1865, Letter 12, The Currency Question, p. 129, "Per Federal Reserve Bank publication 'Modern Money Mechanics', page 6, the bank opened up a checking account under your name and deposited the note. 0000161031 00000 n pg 19, Banks don't make Loans - They purchase Securities through Deposits. 0000081497 00000 n 0000049733 00000 n Then the bank withdrew the money from … 0000011093 00000 n 0000004581 00000 n trailer << /Size 4573 /Info 4512 0 R /Root 4521 0 R /Prev 1235376 /ID[<9fc9a125c821f5db6542222396eeb205>] >> startxref 0 %%EOF 4521 0 obj << /Type /Catalog /Pages 4515 0 R /Metadata 4513 0 R /Outlines 423 0 R /OpenAction [ 4523 0 R /XYZ null null null ] /PageMode /UseNone /PageLabels 4511 0 R /StructTreeRoot 4522 0 R /PieceInfo << /MarkedPDF << /LastModified (D:20030331115428)>> >> /LastModified (D:20030331115428) /MarkInfo << /Marked true /LetterspaceFlags 0 >> >> endobj 4522 0 obj << /Type /StructTreeRoot /RoleMap 430 0 R /ClassMap 433 0 R /K 2022 0 R /ParentTree 4192 0 R /ParentTreeNextKey 163 >> endobj 4571 0 obj << /S 1906 /O 2292 /L 2308 /C 2324 /Filter /FlateDecode /Length 4572 0 R >> stream Loans (assets) and deposits (liabilities) both rise by $9,000. 0000004181 00000 n Really mean what it plainly stated by `` irregularities '', then them. 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