[The following is an original article]BY AARON ABELL
I don't use banks. Not personally, and not for my business. I haven't had a checking account now for about two years. I hate them! Why? It all began in 2010 when I heard a whisper of a rumour that the banks (at least all of them that participate in a central banking system) were cheating 100% of their clients, 100% of the time. I knew of the Wall Street bailouts and of the derivatives markets and all, but I couldn't imagine a dishonest operation organised on that scale, and that endemic to a particular industry. After about two years of searching on and off again however, I found proof of the most widespread and pervasive fraud in the HISTORY of the united States (that is, after that of the creation of the Federal Reserve and the IRS). Every single bank—let me repeat that again: every single bank, beit local, State, or global has robbed their account holders blind. And their customers don't have the slightest idea of the deception! It comes down to this: when you open an account and deposit your money, it is no-longer your property. It belongs to the bank.
Don't believe me? Here are some excerpts from court cases for your examination:
- Carr vs. Carr (1811) - “when money is paid into a banker’s[account books], he always opens a debtor and creditor account with the payor. The banker employs the money himself, and is liable merely to answer the drafts of his customers to that amount.”
- Foley vs. Hill & others (1848) - “The relation between a banker and his customer who pays money into the bank is that of debtor and creditor, the banker being liable to repay to the customer the money which he holds for him when required to do so by the customer. When a customer pays money into his account at a bank It ceases to be his money; it becomes the banker's money and he can deal it as his own. He is not vis-à-vis the customer in the fiduciary position of a trustee or quasi-trustee holding the money for the customer as for a cestui que trust.” (Note, a cestui que trust is basically the beneficiary of a trust)
- N Joachiamson vs. Swiss Bank Corporation (1919) - “Money placed with a bank on current account is, no doubt; in the position of money lent by the customer to the bank: Pott v. Clegg ; Foly v. Hill.”
- Guelich Explosive Co. v. Soberdash Coal Co., et al., 51 Som.L.J. 252 - “Unlike a general depository account which created the relationship of debtor and creditor between bank and depositor, special bank deposits made expressly for a particular purpose cannot generally be attached to satisfy the depositor's general obligations. Where such funds are considered special, the funds are said to be held "in trust" for the benefit of the third party.”
