honesty.org forum

Originally posted by nightrider:

Tim Madden, a Canadian forensic economist, on mortgage and credit card fraud by companies, and how to equal the playing field.

Generally Accepted Accounting Principles (Fraud)
- loan is a financing arrangement whereby an enterprise provide funds in a creditor debtor relationship. These include financing instruments that are classified legally as equity but where the instrument reflects a creditor debtor relationship.
-in other words the instrument, the promissory note that you sign that has generated the funds, but they classify it as equity (outside statutory law?) - it has been falsified to make it look like the enterprise claims that it brought the fund to the table.

People are the sources of all credit in society. There are two types of so called money in society, BoEs that create credit, and bank notes. In Canada what has happened is that each time that you get credit from a bank in the form of a mortgage, credit card or line of credit, your signature on the paper creates a Bill of Exchange(BoE) or promise to pay. Once your signature is on it, this is in effect, and legally, currency. But we are tricked into giving to them as a gift. After we sign the paper, we hand it across the table and give it to them. We have just given them a promise to pay. As far as they are concerned, that currency is now theirs. They then use it to open up credit in our name as a loan to us. There are no bank notes created. You are given the credit or cash to use as if it had come from their reserves. But really it originated from us and we gave it to them. However the wording on the document is deceptive. It says we have already received the loan when we sign it. But we haven't. The bank person doesn't set up the account with that currency we create until after we sign the paper and give it to them. The document also says that we must pay them yet again in legal tender or credit. So in effect we are paying them twice, plus interest. They haven't put anything truly of their own on the table, only what we gave them after signing the paper that make it currency, and were tricked into handing across the table to them effectively as a gift. So we create the currency/BoE, give it to them, and they loan it back to us at interest.

The government is allowing all banks to do this. To use the borrowers equity (borrower's signature creating a promise to pay) to issue cost free credit to them based on that equity, and bypass the lawful currency system altogether. As a consequence to this, governments print almost no money.

So using statutes such as:
*Criminal Code of Canada
*Canadian Fair Debt Collection Act.
*Credit Card Charges Disclosure Legislation.
*Clean Hands Doctrine.
*Section 8 of the Interest Act.
*There are about thirty statutory laws broken by banks everyday.

-->the main criminal issues involved are:
1. Agency issue - the bank, mortgage or credit card company is acting as your person's agent without your knowledge, issuing credit created by you through your signature and based on your future promise to pay, but treating this credit as their own. Non disclosure.
2. Fraud issue.
3. Criminal interest issue.

*Receiving Secret Commissions while acting as an agent.
-credit card companies charging 1-5% to stores to have use of their services. It's against the law.
-Crown vs Kelly 1992
-Section 426 Criminal Code

*Omitting Material Particulars from a Valuable Security (Credit Cards)
-credit card companies receiving secret commissions from merchant, the 1-5% they charge them for use of the card (illegal).
-taints the Bills of Exchange created by your use of a credit card.
-technically money laundering under the Bills of Exchange Act.

*Waiving Presentment - taking money from your card as late payment, without 72 hours notice. A right supposedly signed away by you when you signed for the card. But it was not disclosed to you so is unenforcable according to Madden.

*Knowingly participating in a criminal scheme.
-Section 21 of the Criminal Code

*Sections 300, 301, 302 (Extortion by Threat of Liable) makes it a criminal offense to report you to a credit reporting agency without full details of why you stopped paying. Even if they have valid cause they can't even do this.

Credit Cards: Not actually a loan. Actually a funding instrument/bill of exchange from us to them based on our future promise to pay. When you sign for a credit card (or line of credit or mortgage), this is a bill of exchange and it recorded on the credit card companies books as a deposit from you. And they are acting as your agent. They skim money off the top of every transaction you make with the card by scamming the merchant (Receiving Secret Commissions while acting as an Agent).

Mortgages (aren't true mortgages):
1. Constructive (Objective) Forgery under Section 388 of the Criminal Code
-You haven't already received the mortgage money yet even though it says that you have on the front of the mortgage instrument when you are reading it before signing, because it's the signing of the instrument itself which creates the credit.
2. Fictitious Consideration (Material Forgery) on the face of the mortgage.
-they never give you any credit, it was already yours (given to them as a gift although you don't know you did this) so there is nothing for you to pay back even though they say you have to.

Loans: Each loan you get, you generate the credit through the promissory note. The credit is made in your name as a future promise to pay (a bill of exchange/unconditional promise to pay, an hypothication into the future). You are in fact, when you give them the promissory note/future promise to pay to the banker after signing it, giving it to them as a gift. Then they are richer because the credit was generated by you, and you are giving it to the bank. Then they issue credit back to you as if it came from them and charge you interest for it.

Demand Deposit Instruments
-it unlawful for us to write bad checks
-but it's just as unlawful, and a breech of fiduciary duty for the bank to pay out an automatic debit to themselves or some other company, knowing that there is no money in your account.
-but they do this to charge NSF charges on your account.

Deposits: Physically make the banks rich. They get the heavy metals or cash but only issue credit in return. Liquidates metals and bank notes from society.

Interest:
i) Use of other people's lawful money (Gold Silver etc).
ii) Forbearance(deposit interest) - interest payments that pay you to not demand the lawful money that they owe you.

At this point in history, there is no money, just promises to pay money, either as credit or as bank notes. Very few gold and silver coins in circulation. All sucked into the banks as interest on fictitious credit created when we sign promissory notes and create effective currency.

*The Bank Act actually recognizes that credit and credit cards are free money to banks so they have to write off the amount after 180 days in default. They can't sell credit card debt to anyone else.

The law recognizes 'money' that banks make honestly vs 'money' that they make dishonestly. Even though you feel you might have gotten something for nothing by taking a loan or credit and not paying it back, the law recognizes the lesser of two evils, meaning that your not paying back the loan pails in comparison to the bank fraud that got you there in the first place, if you know how to use the law to your advantage.

Plan of Action:
a) Figure out what they are doing (it's just a machine)
b) Figure out how to beat them at their own game
c) Execution of your plan
-notices of 30 days, 10 days and 10 days
-Statement of Discovery
-Notice of Suspension of Account Pending Resolution of The Issues

*Sections 300, 301, 302 (Extortion by Threat of Liable) makes it a criminal offense to report you to a credit reporting agency without full details of why you stopped paying. Even if they have valid cause they can't even do this.

If it does get to court, Madden suggests arguing equity, not law, because in fact you broke statutory law too and dirtied your hands by falsifying the document by signing a mortgage that said you had already received the money and were the registered owner of the property. Instead say "I want an equitable accounting of this mortgage transaction. What did you really bring to the table? Who really brought the money to the transaction?".

http://www.fortruth.org/TimM.mp3
http://download144.mediafire.com/igynzlj...Credit.mp3
http://download143.mediafire.com/d22ujnv...Agency.mp3

7th Fire
http://www.the7thfire.com/Politics%20and..._beast.htm
U of Money
http://www.uofmoney.com/services/drsm.htm

Shortened Link

Tim Madden-Economist - Researcher

Visit Ñ http://www.ufc.bc.ca

Tim Madden is an economist and legal researcher who specializes in the relationship between the judiciary and financial institutions - and the largely hidden role that relationship plays in the economy. He joined the Borrowers Advocate, Ltd. in 1990 and is currently a director and principal of United Financial Consumers (BC) Ltd. Tim is also a principal of Renew Canada 2000 and is touring with Sir Lawrence Leupol, formerly of the Canadian De-Tax Group.

On (Wednesday) Tim will cover the subject of entrapment as it relates to the filing of a T1-General income tax return. Unlike the corporate form, the personal form/declaration is worded such that every filer commits the strict liability offense of forgery by merely signing it. This in turn gives CCRA a very real measure of coercive leverage by which to control the filer after the fact should it become necessary. Tim will also explain the latest phase of his research into the workings of CCRA. Briefly, the agencyÕs official policy of shielding drug dealers from prosecution as long as CCRA gets its cut appears to define the agency as a criminal organization under the Criminal Code.

The balance of Wednesday evening will be devoted to an explanation of "not fundamentally illegal" and "technical deficiencies". Briefly, in 1997 the finance-lawyer-dominated superior courts completed a process whereby they no longer recognize their own lawful subordination to Parliament. They appear to be in a state of de facto insurrection. Because of the somewhat unique-to-Canada status of the Supreme Court Act as an ordinary Act of Parliament, however, by so ratifying these new principles of law the Supreme Court of Canada appears to have effectively self-destructed. If it does not recognize the paramount authority of Parliament then it cannot recognize its own lawful existence.

On (Friday) Tim will explain the work and writings of Tom Schauf (author of The American Voters vs. The Banking System) in a Canadian context. Most mortgage loan security documents state on their face that the purported borrower is already the registered owner of the property which they merely plan to acquire with the loan proceeds - and that the purported loan proceeds have already been received. Both statements are often false as and when the documents are signed, witnesses, and/or notarized. Far from being a mere technicality the false statements (and resulting false/forged documents) are an integral element in the process by which the purported borrower is deceived into providing the funding for their own loan.

Above all, Tim has been working on practical solutions and courses of action a citizen can take to turn the tables on the system.

Shortened Link

Some info about Revenue Canada (CCRA)

Support for Tax Fighter
Courts Criminalize Filing Tax Returns
Not all Tax Arguments are Meritous


Who is Tim Madden

Timothy Madden is the newest member of the De-Tax group and Canada's foremost authority on deceptive accounting practices of financial institutions. With an initial background in economics and history he has spent the last decade as a forensic account analyst and research coordinator with the Borrower's Advocate Ltd. and the Borrowers' Action Society. Madden believes that Revenue Canada is an integral element in the larger financial problems facing Canadians.
Tax and Bank Dilemma

The federal Currency Act requires the tax department to maintain its accounts in currency of Canada, meaning coins and notes issued by the Royal Mint and the Bank of Canada, respectively. The Act does not allow the tax collector to deal in commercial bank-issued credit - judicially recognized as "a substitute for currency," which "does not have the status of legal tender".

If the Act means what it says then Revenue Canada is participating in a substantial fraud against the Currency Act and to the financial detriment of more than 95% of Canadians. The only way out is to claim that the icon used represents "the currency of a country other than Canada" which, as it happens, is the actual meaning of the [S] with a single vertical bar through it.

Canadian De-Tax Seminars

The full nature of the dilemma is presented at the Canadian De-Tax Seminars. Working together Sir Lawrence Leupol and Timothy Madden present a seminar that brings to light years of research and explains how people can use it to their own advantage.

Sir Lawrence brings detailed information exposing the fraud he claims is being conducted by Revenue Canada (CCRA). He says that virtually everyone attacks the problem by jumping into the constitutional quicksand - but that it is a contract and criminal issue long before it becomes a constitutional question. And even if this were not so, complying with the Income Tax Act is simply IMPOSSIBLE. Over the Friday to Sunday seminar Sir Lawrence presents an updated and refined version of the seminars made famous by the De-Tax Group over the past two years.

Madden ties the whole thing together. He explains how the banks, the financial markets and the tax system manipulate the law to control Canadians and prevent the vast majority of us from sharing the benefits of our rich nation. He offers surprisingly simple solutions - for the individual and for the country.