THE CREDIT CARD SCAM-- 'EXPOSED'
William Wells
THE CREDIT CARD SCAM “EXPOSED”
This should help solve your problem
. What I am going to explain here is not how one should do things in commerce, but as few understand commerce the letter below always worked for me. And it was so easy, but I am going to even give you a better and easier way to deal with these fictions Credit Card Corporations etc. and or bill collectors, at the end of the letter. Please read the letter but if you are really having a problem, after reading the letter, read what is after the letter and even if you are not having a problem read it. Every thing going on here in the letter is between one real live man me and fictions, but I treated everything as if we were all real. .Several years ago there was a man who said he was a paralegal, I do not remember his name or I would give it. He was selling an e book on the internet the book was one hundred and twenty or so pages I believe. And as the book did not cost very much I bought it. This man did not under stand commerce as he said he was a paralegal and a paralegal would more than likely not understand commerce. but he did understand how the credit card scam works in commerce with out knowing it, and every thing is what? Straw man and. commerce. I did not have any credit card problems at the time but some years later My dad got sick and I had to go get him and he did have several credit cards. So I started getting calls and letters about the “money” my dad owed. (We know don’t we that there is no money everything in commerce is in negotiable instruments.) So I took the book mentioned above which told one to write a letter and I was told what to say in the letter and when I got a response how to respond and so on. Using my brain I took the information and reduced it down to the letter below and after I sent it off I never heard back from the same Credit Card Companies or Bill Collectors Again. What the credit card company would do is sell the “Credit card debt” to another collection agency then I would get a letter from them so I would change the heading to fit them and send them the same letter which is below. I did not care if it was an attorney or some “law firm’ or not. Now understand that every thing in the letter below is in reality between fictions in commerce..
I was having a good time and it was fun. I was hoping for and getting a letter about every week or so for a while from some fiction credit card company or bill collector. As stated above I want you to understand what is going on and I want you to read the letter. And then I am going to tell you an even easier way to deal with the fictions “credit card company’s” that are bothering you. Any laws etc. mentioned below in the letter is for the straw man in commerce. And you can get these from the internet. Again in the system we live in we do not use money (gold and silver) we use Negotiable Instruments (federal reserve notes etc.) and the letter will show that.
MERCANTILE ADJUSTMENT BUREAU, LLC Oct. 00th, 2005
Re Letter/Billing Account No: 12345678919111213 Dated 1/12/05 (copy enclosed)
Dear Mr. Jxxxx Dxxxx
I, Wxxxxxx Wxxxxs, have been given power of attorney by Mr. Axxxxx Bxxxxx to handle Mr. Bxxxxxx financial affairs etc. (copy of power of attorney enclosed) As this so called debt started out as a "credit card" debt I am disputing the account above. Mr. Axxxxx Bxxxxx here in after in this letter will be known as Mr. Bxxxxx. What I put in here was personal so you would put in here what ever you felt fit you. Going on.
Wxxxxxx Wxxxx I also sent a letter several months ago a lot like this one asking for the T Chart for the transaction that created the loan, and the exclamation below on how the credit card works. I am still waiting for a response. As I, am still involved in Mr. Bxxxxxx financial problems. I, want from Asset Acceptance LLC, the T Chart for the transaction that created the original "loan" for Mr. Bxxxxx with GREEN TREE FINANCIAL SERVICING CORP. I, do not care about any other papers at this time than the T CHART which will show the debts & credits of Mr. Bxxxxxx original account. Other than demanding the T Chart I, have explained below why I, am disputing the above account After reading what is below if you still want to push this and get attorney(s) involved I will still demand the T CHART (what the T chart would show is that the credit card had all ready been paid off even if my dad did not make one payment on a “$100,000 debt” READ LETTER BELOW) and a copy of the attorneys state license (attorneys do not have state licenses all they have is a stupid bar number, attornies lie) to practice law and the attorneys BAR (British Accredited Registry) Number I have xed out the names in the letter.
WHY I, Wxxxxxx Wxxxx AM DISPUTING THE BILLING ABOVE BECAUSE IT STARTED OUT AS A "CREDIT CARD" BEBT IS EXPLAINED BELOW!!! (EMPHSIS ADDED BY BOLDING THROUGHOUT)
Before I, Wxxxxxx Wxxxx start explaining why I am disputing the above "debt." I, want it known that the credit card" that started this has been destroyed. If the "credit card" company would have been honest with Mr. Bxxxxx the "credit card" company would have told Mr. Bxxxxx that he was signing up for an exchange card, and explained what that meant which will now be explained.
When one gets a credit card one agrees to "borrow" money from the "credit card" company via the medium of a "credit card" and pay it back with the agreed upon interest. Thus the "credit card" company provides something of value and the one getting the card provides something of value Simple enough right? WRONG!
As lawyers know; there is a legal maxim (a self-evident truth) that says: "A THING SIMILAR IS NOT EXACTLY THE SAME.”"
The form, the papers i.e. the agreement, the statements etc. Are different from the substance of the agreement. The form is the appearance while the substance is what really occurred. People who enter into an agreement with the bank /Credit Card Company do not receive a loan from the bank or credit card company regardless of what they think.
All federally insured banks (FDIC) must follow what are called the Generally Accepted Accounting Principles (GAAP) which are in the federal statutes at 12 use. Sec. 1831n(a) (See copy attached 18310. Accounting objectives, standards, and requirements)
One learns from exhibit A ACCOUNTING OBJECTIVIES, STANDARDS, AND REQUIREMENTS
(I) That there are certain accounting principles that must be followed by (FDIC) banks and
financial institutions.
(2) That certain reports or statements must be filed with federal banking agencies by insured
depository institutions.
(3) That these reports and or financial statements must accurately reflect the capital of these
. institutions.
(4) That the institution's accounting principles shall be uniform and consistent with the generally Accepted Accounting Principles.
Generally Accepted Accounting Principles 2003 edition published by Wiley page 41 under the section Cash and Cash equivalents one learns, "Anything accepted by a bank for deposit would be considered as cash. "
So how does the "Credit Card" system work? The entire process works something like this: Banks accept "credit card" agreements and promissory notes and deposit them, So the original agreement/promissory note that one signed is circulated through the Federal Reserve Clearing house and the cash amount of the agreement is printed up by the FED.
So if one is approved by a "credit card" company for a "credit card" with a $2000.00 credit limit, that agreement/promissory note is sent to the FED clearinghouse where '2000.00 worth of Federal Reserve "cash" are printed up, and that cash is deposited into the "credit card" company's bank account.
, Every time Mr. Bxxxxx used his "credit card" and sign the "credit card" slip/promissory note. : The merchant took the signed "credit card" slip and, as just explained deposits it into their accounts as cash equivalent.
The Merchant's bank then bundles all of the signed "credit card" slips together, and deposits them with the "credit card" company and their bank. The "credit card" company then sends the cash or bank wire transfer, which ever is the case to the merchant's bank where the signed slips were first deposited.
Now the "credit card" company's holding bank does with these signed slips/promissory notes what they did with the original credit cards agreement. They circulate those signed slips through the FED clearing house, the cash is printed up by the FED and given to the company. Thus the "credit card" company is paid in full by the value of the consumer's promissory note and they never loose a dime even if the consumer never pays them at all. But not only do they not risk or lose a cent. they gained a full '2000.00 because they received this from the original agreement that was signed. If the credit card is never used the "credit card" company made $2000.00 from the promissory note/credit card agreement alone!
Further the Federal Reserve has also been very clear in their circulars that banks do not really lend money. To understand this revelation in their official circulars one example that could be cited is a reference in statutory law. For instance the Uniform Commercial Code (UCC), which governs all oonunercia1 law, (and virtually every state bas adopted and codified it in their state statues) reads in the section on commercial paper (includes promissory notes) "Regulations of the Board of Governors of the Federal Reserve System and operating circulars of the Federal Reserve Banks supersede any inconsistent provision of this Article to the extent of the Inconsistency." UCC IO2(c)
So one can see that the circulars of the FED banks and the regulations of the board of governors of the FED has the power to override statutory law in commercial relations when there is a conflict between that law and the circular or regulation of the FED in a particular section.
What has the FED said, about banks lending money? I think two examples will prove the point, although many more could be offered. Federal Reserve Publication, Modern Money Mechanics states on pg 6 "Of course they [Banks} do not really pay out loans from the money they receive as deposits. If they did this no additional money would be created."
So if Banks do not "really" pay out loans from the money that they receive as deposits, where do they get the money to "payout loans?" The FED tells one in no uncertain terms in the next sentence. "What they do when they make loans is to accept promissory notes in exchange for credit to the borrower’s transaction accounts.”
So an exchange occurred! Why does the "credit card” agreement and statement present it as a loan, and charge interest? The agreement never mentions that an "exchange" is happening? The FED adds fuel to theargument in their publication: "Two faces of Debt.” In this publication on pg 19 the Fed states: "depositor's balance rises when the depository institution extends credit either by granting a loan to or by buying securities from the depositor in exchange for the note or security, the lending or investing institution credits the depositors or gives a check that can be deposited at yet another depository institution. In this case no one else loses a deposit the money supply is increased. New money has been brought into existence.”
So again the word "exchange” is being associated with the so called loan. Notice that the quote says clearly that a "depositors" balance "rises" (evidence the promise to pay is deposited) when a depository institution extends credit by granting a loan or by buying securities from a depositor. How does that happen according to the circular "In exchange for the note" the lending institution credits your account etc.
Then we are told something that proves the bank or financial institution really did not lend their money as they implied or agreed. We are told that as a result of this transaction "no one loses a deposit" (Thus no other person who had money deposited at the institution lost any deposit) That “the money supply is increased.” And that “new money has been brought into existence.”"
How was the "new money" brought into existence? By the deposit of the promissory note agreement. Now a crucial point any attorney knows, for an agreement or a contract to be valid both parties to the agreement must provide what's called "valuable consideration." In other words each party must provide something of value in return for the thing of value that they receive.
Now I ask what was lent that should be repaid? If according to the FED, whose regulations the bank must follow, (1) The bank did not use other depositor's money, (2) banks do not really payout loans from this money, (3) they accept the promissory note/agreement in "exchange" for credits in a transaction (checking) account (4) and they issue a check or wire transfer front this account. What did the bank lend? The wire transfer, credit, or check is issued based upon the deposit of the promissory note. GAAP says. Anything accepted by a bank as a deposit is considered as cash. The promissory note is an asset. An asset is something that has value. It can be bought and sold.
This explains why the FED says "new money" is brought into existence with the deposit of the promissory note. It is "money” that was not in the bank or financial institution prior to the deposit of the promissory note.
Thus it is stated in "Two Faces of Debt." Pg 19 "such newly created funds are in addition to funds that all financial institutions provide in their operations as intermediaries between savers and users of savings.”,
These funds are in "addition" to the other funds. Addition means to add. The promissory note/agreement is an increase of the financial institution's funds! Thus from an economic standpoint one is far from getting a loan, one is making a deposit. And what does the FED say about that? Again in "Two Faces of Debt." Pg 19 "A deposit created through lending Is a debt that has to be paid on demand of the depositor, just the same as the debt rising from a customer’s deposit of checks in a bank.”"
This is a very powerful, clear, and concise statement. What can one learn from it?
1) When a bank or financial institution makes a "loan" they incur debt.
2) This debt must be paid on demand of the depositor (of the promissory note).
3) It is the same as the debt the institution owes a person who deposits checks currency or checks in a bank.
So when one deposits their paycheck or cash into the bank, or other financial institution, the institution has to record it as a debt owed to us on their books. 'Two Faces of Debt" pg 19 puts it this way "Again checkable deposits in commercial banks and savings Institutions are debts=liabilities of these depository institutions to their depositors.”
As has been shown the promissory note is a checkable deposit because" A deposit created through lending is a debt that has to be paid on demand of the depositor, just the same as the debt rising from a customer's deposit of checks or currency in a bank."
Any attorney or Judge knows that a contract is not valid without consideration. There is also an element known in contract law as a "meeting of the minds." This element must .also be present in any valid agreement. In other words both parties understand fully the terms and the conditions of the agreement. There is full disclosure by both sides of all material facts. Everyone knows and agrees with what is going on. It is called "full disclosure."
If one is not aware of all of the material terms and conditions of an agreement how could one have possibly agreed to those terms and conditions? And if' you did not agree to them because you were not aware of them how can there be a valid agreement? How could there have been a meeting of the minds? There couldn't.
As can be seen from the above Mr. Bxxxxx did not receive a loan from the "credit card" company at all. It is a fact the "credit card" company profited just by Mr. Bxxxxx’s signing the application for the credit card. And every time Mr. Bxxxxx used the "credit card" the "credit card" company profited. And "new money" was brought into circulation. And that was not enough for the 'credit card" company the "credit card" company wants Mr. Bxxxxxx to pay them again plus interest. Further there is no way Mr. Bxxxxx understood all of the terms of the "credit card" contract as full disclosure was not made at the signing of the contract. Until one understands the scam it is very bard to understand how the credit card companies can keep going when there are so many people who have "credit cards" filing bankruptcy etc. But once one understands the credit card companies can not loose and they profit no matter what, one sees that "credit cards" are a god send for the "credit card" companies as they create out of thin air "new money" from a signature. The fact is the "credit card" company bas lost nothing but made a huge profit from Mr. Bxxxxx. The "credit card" company should have at least sent Mr. Bxxxxxx a thank you letter for the cash Mr. Bxxxxx made them, not tried to collect a debt that has more than been paid in full.
Enclosed and or attached to this letter
t) Copy of Power of Attorney given to Wxxxxxx Wxxxx
2) Copy of Billing statement
3) Copy of 1831n Accounting objectives. standards. and requirements 4) Copy of Modem Money Mechanics page 6
S) Copy of Two Faces of Debt Page 19
Sincerely
Wxxxxxx Wxxxxs
C/O 1234 S xxth Street
Any town, state [12345]
Now as has been seen. You owe nothing your credit card your straw man has, has already been paid off! SURPRIZE, SURPRIZE as Gomer would say.
When I was dealing with the credit card company’s above etc. as I was always dealing for my dad the credit card people always wanted a signed “power of Attorney” form from my dad which authorized me to speak or act for him. So I always sent one along but in my case I never heard from any of the credit card people again after sending the above letter. Now here is the rub you the real live man or woman can do the same thing the credit card companies did to me unless you actually owe “money” to the individual who is calling or writing you. Next time the credit card company or bill collector calls or writes you ask them for their name then ask who they work for or are calling for then tell them you want a signed “power of Attorney” form, from the corporation authorizing the individual you are speaking with to act for the corporation. If it is a letter then you all ready have all of the information you need. So write the individual whose name is on the letter if more than one send each one of them a letter demanding a signed “power of attorney from who ever it is they say they are representing. Before you can discuss the matter with them. If they threaten to take you to court. Ok but I will still demand that power of attorney form signed by the corporation from the individual who shows up in court. Do not accept a power of attorney from the head of the corporation which would be a trick, you want the power of attorney from the corporation it’s self and something that does not exist can not give you one.
We assume so many things in life to be true when they are not. Let me explain a little more here, I am a real live man typing this and you reading this is a real live man or woman because we can see, hear, feel, smell, and taste. But a corporation which most and I believe all of these credit card and most if not all bill collectors work for do not exist except in your mind. The corporation, government etc. are not real, they are only in your mind as they can not see. taste, hear, feel, or smell, so they do not exist and they are what is called a fiction, in Blacks Law Dictionary. So the individual calling you or the individual(s) who sent the letter can not get anything signed by something that does not exist. I know I have probably got to do some more explaining for you to understand. The head of the corporation is not the corporation and the building which says such and such corporation on it is not the corporation the corporation does not exist except in your mind. If the head of the corporation which will never happen sends you a letter, talks to you or shows up in court, tell him you want a signed power of attorney from the corporation HE WORKS FOR authorizing him to act for the corporation, He can not get it because a corporation does not exist, but if he is in court etc. he/she says they represent a corporation which does not exist! If you are in court do not deal with the judge the first thing you do when you see the guy who says he is representing such and such corporation is go over to him and demand a signed power of attorney signed by the corporation giving him authorization to be there. From the corporation he says he is representing. If he can not present it, what is your next step, Judge I want this case dismissed as the corporation did not show up and there is no one here to day with the authorization to represent the corporation. Do not get in an argument or you will lose the only thing on the table is the signed power of attorney and you want it right now. Nothing can be discussed here to day until I get a signed power of attorney signed by the corporation authorizing such and such here to represent the corporation. Nothing can move unless you let it (Now you are dealing with snakes and serpents in court who are very cunning and the only friend you will have is if you bring some one with you.) until some one is there with “power of attorney to represent the corporation. Now if you have an attorney he will never demand the power of attorney. ALL ATTORNEYS ARE OFFICERS OF THE COURT! THE ONLY ONE THAT CAN SIGN ANY POWER OF ATTORNEY IS A REAL LIVE MAN OR WOMAN AND A CORPORATION, GOVERNMENT ETC. SURE IS NOT THAT!
TRAFIC TICKETS
Now the above is for credit cards or bill collectors. But suppose you are in court on a traffic ticket and the prosecutor is there representing the State of Ohio. The State of Ohio does not exist except in your mind the same as the corporation above so what do you want to demand from the prosecutor? A signed power of attorney from the State of Ohio that authorizes the prosecutor to act for the State of Ohio. He can not get it because the State of Ohio does not exist The State of Ohio is a fiction see Blacks Law Dictionary. The case can not move forward if you demand the power of attorney unless you let the case move forward. And the corrupt judge may try to move it forward, you don’t let it happen. You are demanding that signed power of attorney from the State of Ohio right now or I want this case dismissed. If there is no power of attorney you demand that the case be dismissed. Any time some one says they are representing a fiction what do you want? You want a signed power of attorney from the fiction authorizing the individual you are dealing with to represent the fiction. If you were representing some one you would need to have a signed power of attorney from the individual you are acting for, it is the same for them. The prosecutor may say that he can not get a signed power of attorney from the State of Ohio, that is not your problem it is his and you are demanding and you have a right to that signed power of attorney document. Without it this case can not move forward and I DEMAND and I have a right to it. With out it I want this case dismissed!!!!!
YOU HAVE THE POWER BELIEVE IT AND USE IT!
William Wells