The complaint was filed Friday April 15, 2005 in the Supreme Court of British Columbia at New Westminster. It alleges that all financial institutions who are in the business of lending money have engaged in a deliberate scheme to defraud the borrowers by lending non-existent money which are illegally created by the financial institutions out of "thin air."
The legal action brings to the fore one of the major economic "drag factors" - the interest charged by banks for money that technically and legally is not theirs to lend, because even governments end up paying interest to banks lending money for public spending, and they in turn charge tax payers. A large part of every country's tax revenue goes first and foremost - before any "internal" spending - to payment of interest, largely because of the basic flaw in our way of creating money by the rich and for the rich.
Here is some more detail about the class action filed in Canada.
Class Action Suit Filed on Behalf of the People of Canada
forwarded by Tom Kennedy
New Westminster, B.C., April 15, 2005.
John Ruiz Dempsey BSCr, LL.B, a criminologist and forensic litigation specialist filed a class action suit on behalf of the People of Canada alleging that financial institutions are engaged in illegal creation of money.
The complaint filed Friday April 15, 2005 in the Supreme Court of British Columbia at New Westminster, alleges that all financial institutions who are in the business of lending money have engaged in a deliberate scheme to defraud the borrowers by lending non-existent money which are illegally created by the financial institutions out of "thin air."
Dempsey claims that creation of money out of nothing is ultra vires these defendants' charter or granted corporate power and therefore void and all monies loaned under false pretence contravenes the Criminal Code.
The suit which is the first of its kind ever filed in Canada which could involve millions of Canadians alleges that the contracts entered into between the People ("the borrowers") and the financial institutions were void or voidable and have no force and effect due to anticipated breach and for non-disclosure of material facts.
Dempsey says the transactions constitute counterfeiting and money laundering in that the source of money, if money was indeed advanced by the defendants and deposited into the borrowers' accounts, could not be traced, nor could it be explained or accounted for.
The suit names Envision Credit Union ("Envision"), a credit union; Laurentian Bank of Canada ("Laurentian Bank"), Royal Bank of Canada ("Royal Bank"), Canadian Imperial Bank of Commerce ("CIBC"), Bank of Montreal ("BOM"), TD Canada Trust ("Canada Trust") and Canadian Payment Association ("CPA") as civil conspirators.
The plaintiff in the lawsuit is seeking recovery of money and property that was lost by way of confiscation through illegal "debt" collection and foreclosure. The Plaintiff is also seeking for the return of the equities which rightfully belong to the People of Canada, now being held by the defendant financial institutions as constructive trustees without color of right.
At all material times, these defendant banks and all of them have no legal standing to lend any money to borrowers, because:
1) these banks and credit unions did not have the money to lend, and therefore they did not have any capacity to enter into a binding contract;
2) the defendants did not have any cash reserve, they are not legally permitted to lend their depositor's or member's money without expressed written authorization form the depositors, and:
3) the defendants have no tangible assets of their own to lend and all their "assets" are "paper assets" which are mainly in the form of "receivables" created by them out of "thin air," derived out of loans whereas the monies loaned out were also created out of thin air.
Other than bookkeeping and computer entries, no money or substance of any value was loaned by the defendants to the Plaintiff. In all of the loan transactions entered into between the Plaintiff and the Defendants, the financial institutions did not bring any equity to any of the transaction.
Full story with updates showing the progress of this on going (and MSM ignored) case.
[Proofreader's note: this article was edited for spelling and typos on August 17, 2006]
Note: Full story with updates...
Canada: Class Action Accuses Banks Of Illegal Creation Of Money
Posted on Tuesday, August 15 at 17:01 by rearguardContributed By
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If there was ever a time for Canadians to become pushy - now is the time - for time is running out on this nation called Canada.
The Judge selected was herself a lawyer for one of the defendant banks for many years and, as such, should never have been assigned to the case. I don't care how objective she is, the appearance here is that the accused ARE the judge. Think about it, wouldn't it be great if you, as an employer, could have one of your loyal employees preside over a lawsuit against you?
When a motion was made to have the judge remove herself due to conflict of interest, the judge ruled HERSELF not in conflict! Man, what I wouldn't give to be able to rule on my own conduct! I could go rob a bank then declare myself not a criminal.
This lawsuit is a sham - a theatrical performance put on by banks to make it look like they are subject to the laws of this country. Of course, they ARE the law so they can flout the law all they want.
How does this sound for "fairness""
The thre major players in this charade are all members of the same Brotherhood.
Who knows hnow many 'other' conections there are?
“The Bar, the Pulpit and Press,
Nefariously combine
To Cry up an usurpt Pow'r
And stamp it Right Devine.”-1695
Is that the printing press?
The MONEY printing Press?
The press that prints the “truth” for us to read?
Any interconnections?
Stuff that makes ya go
"Hmmmmmmmmmmmm?"
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We have met the enemy and he is us
Pogo
A mind is a fire to be kindled, not a vessel to be filled.
Plutarch
<br />
<a href="http://www.michaeljournal.org/poverty.htm">http://www.michaeljournal.org/poverty.htm</a><br />
<br />
It's all about grabbing the people's money and keeping them down. A strong middle class is the corporate government's biggest enemy.
David Suzuki once asked: "What's an economy?" Now we know.....
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"We can have a democracy or we can have great wealth concentrated in the hands of the few. We cannot have both."
- Justice Louis Brandeis
I feel much better now !
go to the link and register for the class action
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We have met the enemy and he is us
Pogo
A mind is a fire to be kindled, not a vessel to be filled.
Plutarch
Of course, the lawsuit will fail, because the whole world is now on this funny money creation kick. Worthless capital can now be created in certain countries, using the properties of others as collaterals, permitting and licencing globalized colonization and enslavement. So, how could this be stopped by a judge in Canada?
But here again, this garbage science is being taught in our universities as "good, wealth creating market economics" and scores of professors will be fighting to give well paid testimonies on behalf of the defendants, so let's look and fight the originators of this racket and crime wave, not the effects.
Ed Deak.
...or they will squash this guy like a bug.
My money is on the latter.
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“The war is not meant to be won, it is meant to be continuous, the essential act of warfare is the destruction of the produce of human labour”
Actually, this suit is in part, challenging the collection of income tax. Have a look under "August 10, 2005:"
Seems the 'Income Tax Act' may never have been passed by the Senate, or given Royal Ascent.
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"I think it's important to always carry enough technology to restart civilization, should it be necessary." Mark Tilden
This is a year old.
UPDATE:
They harassed the judge, (for good reason, she was in conflict of interest, a hired gun to shut this all down quickly) and she broke some obscure court laws and ended the case.
Here are the last words from the plaintiff:
"What's going happen next? Nothing. We, the People are not going back into that temple until the court has established that they have in rem or subject matter jurisdiction over us. As sovereign men and women, they have no power over us, unless it was given to them from above; or unless we accept their assumed power or jurisdiction. God bless you all."
Reminds me of a friend of a friend who challenged the Income Tax Act and refused to pay taxes. They hearded him into a Kangaroo court, harranged him until he was literally in tears, and kicked him out with his bill.
You cannot defeat them with their game, people. They made the rules, and they can change them at any point they choose.
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“The war is not meant to be won, it is meant to be continuous, the essential act of warfare is the destruction of the produce of human labour”
...or they will squash this guy like a bug.
My money is on the latter.”
So what now then, Acquiesce?
By squashing this guy and the class action they crush us all, and should that be the case then we should shut the fuck up and take what we are given?
Is that the point we are to get?
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We have met the enemy and he is us
Pogo
A mind is a fire to be kindled, not a vessel to be filled.
Plutarch
You need to make massive use of media, protest, advertising campaigns, you need a full time legal team dedicated to it, you need, in short, a peaceful revolution.
For comparison, look at the effort right now to try to get Proportional Representation for the BC voting system. Elections BC has made the pre-requisites ridiculously high, something like 60% of ALL eligible voters in EACH BC riding must agree, when only that many in TOTAL ever come out to vote in a General Election.
There were many many people and legal advisors involved in it, and THOUSANDS of signatures, donations and support from the general public. They got something like 57-59% of the public behind it, just shy of the actual requirements. It really caused the Provincial government to sit up and listen. But not quite good enough.
You need a campaign at least twice as big as that, preferably even bigger. And your talking about coordinating and selling it across the entire country.
This is literally trying to change THE MACHINE, how it works, how everything in our economy works. People will be thrown in JAIL and have to hunger-strike! People are going to lose their jobs. People are going to be threatened and hurt in this.
Without massive public outcry and protest, AND sound legal backing by a very courageous legal team, this sort of thing has no chance of even getting off the runway.
But if anyone knows of a good legal firm that would take this on, one that can fight all the way to the Supreme Court of Canada and then take on the Bank of Canada and the World Monetary Fund, by all means, send me an email and SIGN ME UP!
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“The war is not meant to be won, it is meant to be continuous, the essential act of warfare is the destruction of the produce of human labour”