Therefore, our system of money can be better described as usury a “debt” money system, credit for every dollar that comes into existence creates a debt to banks and interest (usury) is charged. Under our present monetary system, the federal government will never be able to balance its budget and public debt will grow exponentially. However, all bank loans made in the United States today is illegal, since all bank loans are based on “credit” instead of “money”! The words “ultra vires “are important words because it means that” a contract by a corporation beyond the scope of its powers of businesses is illegal. “(See Law Black’s Dictionary) The courts have consistently ruled that banks can not lend their credit, but can only lend their money and that all loans of credit are “ultra vires”. Since no bank charter gives them permission to extend their “credit”, and Congress never gave permission for banks to create money , all loans of credit are ultra vires or illegal. The bank credit for lending has been unjustly enriched. That does not pay interest for the use of your credit, but charge customers as much interest as if lent their money. These practices are a form of high level of usury.
It is deception and fraud. The collection of interest for loans is in violation of all usury laws. After all, the bank is charging interest on the money does not exist. There Many programs today as a particular program which I represent, Debt Solutions International (DSI.) more than two billion dollars of illegal bank loans out there waiting to be questioned. A program such as DSI is a much better alternative to bankruptcy and you can keep your property and bank loans worthless at the same time. Anyone can walk off your property and let the bank has, but this is the reward for their fraudulent acts. It would be much better to sue the bank for fraud and usury and ask that all contracts were signed on the day they took out the loan be declared “ultra vires, null and void. That includes deeds of trust, mortgages, promissory notes and security agreements, but particularly credit cards.
For a long time, patriots have been writing to their congressmen asking them to give us an honest money system without exorbitant interest rates and have ignored us. I am not an expatriate, I still believe in my country, but our current fractional reserve banking system must be eliminated. If we do not our children will pay the price of inheriting our debts. I think with the power of the Internet, consumer education will become so powerful that the banks and the “powers that be” face their rivals. People will see that programs such as those offered by DSI and others have nothing to fear and will become mainstream.
