Uploaded on Oct 20, 2009
UCC 1 Financing Statement .. What is the Banksters fraud? .. ** When you took out a loan, you signed a Promissory Note. A promissory note is a Monetary Instrument, much like the dollar bills you have in your pocket.
Lets say for example that you signed a Promissory Note for a Mortgage in the amount of $100,000. To a bank, that Promissory Note is the Same As Cash.
Proof: If you look at a United States Dollar Bill, you will see written at the top the words Federal Reserve Note. In essence, this Reserve Note is a Promissory Note. This dollar bill is evidence of a debt the Federal Government owes the Federal Reserve.
Your Promissory Note is evidence of a debt you owe the bank ... So to a banker, your $100,000 Promissory Mortgage Note is like a $100,000 Bill.
They take this Note and they create a Demand Account, in your name, without telling you about it!!!
The balance of the Demand Account goes from $0 to $100,000 by depositing the PROMISSORY NOTE into this account.
When they write a Cashiers Check for $100,000.00 (to pay the seller of the house you just bought their Monies in Full), the balance in YOUR Demand Account goes back down to $0.
Most Importantly if the whole process stopped right here, there would be no crime committed, no fraud committed, and everyone would be in an EQUITABLE position.
HOWEVER, the moment you start paying interest and principle payments after your Demand Account is brought to $0 (above), these payments become your damages.
The bank is taking money out of your pocket, and not giving you anything of equal value in return!!!
When money is simply demanded from you for nothing that is called Conversion.
The laws dictate that when conversion is used and this fact is brought to light; the damaged partys compensatory damages are 4 times the amount of the actual damages plus the punitive damages are 200 times the amount of the compensatory damages, or 800 times the actual damages.**
Go to TPUC.Org to follow this up on their forum ...