Zeitgeist: Addendum Page #3

And that is the point.

It invariably transfers true wealth

for the individual to the banks.

For, if you are unable to pay for your

mortgage, they will take your property.

This is particularly enraging when you realize,

that not only is such a default inevitable

due to the fractional reserve

practice. But, also because of the fact

that the money that the bank loaned to you

didn't even legally exist in the first place.

In 1969 there was a Minnesota court

case involving a man named Jerome Daly

who was challenging the foreclosure of his home

by the bank, which provided the loan to purchase it.

His argument was that the mortgage

contract required both parties,

being he and the bank, each put up a

legitimate form of property for the exchange.

In legal language this is called

cosideration [a contract's basis.

a contract is founded on an exchange

of one form of consideration for another.]

Mr. Daly explained that the money

was, in fact, not the property of the bank.

For it was created out of nothing as

soon as the loan agreement was signed.

Remember what "Modern Money Mechanics"

stated about loans?

What they do, when they make loans, is to

accept promissory notes in exchange for credits.

Reserves are unchanged by the loan transactions.

But, deposit credits constitute new additions

to the total deposits of the banking system.

In other words, the money doesn't

come out of their existing assets.

The bank is simply inventing it,

putting up nothing of it's own,

except for a theoratical liability on paper.

As the court case progressed, the bank's

president Mr. Morgan took the stand.

And in the judge's personal memorandum,

he recalled that the Plaintiff - banks president -

admitted that, in combination with the

Federal Reserve Bank, did create the money

and credits upon its books by bookkeeping entry.

The money and credit first came into existence

when they created it. Mr. Morgan admitted that

no United States Law or Statute existed

which gave him the right to do this.

A lawful consideration must exist

and be tendered to support the Note.

The Jury found that there was

no lawful consideration, and I agree.

He also poetically added, "Only God can

create something of value out of nothing".

And, upon this revelation the court rejected the

bank's claim for foreclosure, and Daly kept his home.

The implications of this court decision are immense.

For every time you borrow money from a bank,

whether it is a mortgage loan or a credit card charge,

the money given to you is not only counterfeit,

it is a illegitimate form of consideration.

And hence, voids the contract to repay. For the

bank never had the money as property to begin with.

Unfortunately such legal realizations

are suppressed and ignored.

And the game of perpetual wealth

transfer and perpetual debt continues.

And this brings us to the ultimate question:

Why?

During the American Civil War President

Lincoln bypassed the high interest loans

offered by the European banks, and decided

to do what the founding fathers advocated.

Which was to create an independent

and inherently debt-free currency.

It was called "The Greenback".

Shortly after this measure was taken, an internal document

circulated between private British

and American banking interests, stated:

"Slavery is but the owning of labor and

carries with it the care of the laborers,

while the European plan..is that capital

shall control labor by controlling wages."

This can be done by controlling the money.

It will not do to allow the Greenback...

as we cannot control that.

The fractional reserve policy,

perpetrated by the Federal Reserve

which has spread in practice to the

great majority of banks in the world,

is in fact a system of modern slavery.

Think about it, money is created out of debt.

What the people do when they are in debt?

They submit to employment to pay it off.

But if money only can only be created out of loans,

how can society ever be debt free?

It cant, and that's the point.

And it is the fear of losing assets,

coupled with the struggle to keep up,

with the perpetual debt and

inflation inherent in the system

compounded by the inescapable scarcity,

within in the money supply itself,

created by the interest that can never be re-payed.

that keeps the wage-slave in line

Running on a hamster wheel, with millions of others.

In effect, powering an empire

that truly benefits only the

elite at the top of the pyramid.

For, at the end of the day,

who are you really working for?

The Banks !

Money is created in the bank,

and invariably ends up in a bank.

They are the true masters, along with the

corporations and governments they support.

Physical slavery requires

people to be housed and fed.

Economic slavery requires people

to feed and house themselves.

It is one of the most ingenious scams

for social manipulation ever created.

And at its core,

it is an invisible war against the population.

Debt is the weapon used to conquer and enslave societies,

and interest is its prime ammunition.

And, as the majority walks

around oblivious to this reality,

the banks in collusion with

governments and corporations

continued to perfect and expand

their tactics of economic warfare

Spawning new bases,

such as the World Bank

and International Monetary Fund [IMF],

while also inventing a new type of soldier.

The birth of the economic hitman.

There are two ways to conquer and enslave

a nation. One is by sword. The other is by debt.

There are two ways to conquer and enslave

a nation. One is by sword. The other is by debt.

John Adams - 1735-1826

We economic hitmen really have been the ones

responsible for creating this first truly global empire.

And we work many different ways.

But, perhaps the most common is that we will

identify a country that has resources, like oil.

And then, arrange a huge loan to that country

from the World Bank or one of it's sister organizations.

But the money never actually goes to that country.

Instead it goes to our big corporations to

build infrastructure projects in that country.

Power plants, Industrial parks, Ports...

Things that benefit a few rich people in that country.

In addition our Corporations.

But really dont have the majority to

people that all. How ever, those people

the whole country is left holding the huge debt.

It's such a big debt they can't repay,

and that's the part of the plan...

They can't repay it !

And so, in some point, we economic hitman,

go back to them and say "Listen"

"You lost a lot of Money. Can't pay your Debt. So..."

"Sell your oil "

"Real cheap to our oil companies"

"Allow us to build a Military Base in your Country..."

"Send troops and support one of our's,

to some place in the world like..."

"Iraq or vote with us on the next U.N."

Vote, to have their electric

utility company privatized

and their water and sewing system

Rate this script:0.0 / 0 votes