The People vs. The Banks
The Greatest Battle


Class Action #1
Class Action #2
Class Action #3
John Dempsey
Illegal Debt Collection
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Q: What is the basis of your class actions against the banks, and why do you say that the banks are engaged in fraudulent and illegal practice?

A: Our statement of claim explains a lot, however, essentially, when you go to the bank to borrow money, they don't really lend you any money (or not the kind of money that we can see, feel and touch such as gold or legal tender bank notes). Not only do you not receive any money, but the "money" or "credit" that you receive actually comes from you - from the promissory note or commercial instrument which you yourself "validate" by signing the document. The bank takes this instrument which you just created (your own money) from you and the bank deposits this money into their account. They then make a ledger or computer entry into your account and claim they loaned you the money. This is illegal because there is no law in Canada that empowers these corporations to create money out of nothing. Only God can create something out of nothing.

In the above example, the money "loaned" to you by the bank actually came from you. The bank provided no equity in the transaction; the bank never risked anything, nor lost anything and never would have lost anything. The bank was only supposed to keep your money (the promissory note) as collateral, in case you default. But what they do not tell you is that they took your promissory note or commercial instrument and converted it for their own use. They unlawfully enriched themselves, and this is illegal.

Q Why do you say the money or credit comes from me?

A: Because that is the truth - the money, or the bank note that we have in circulation today is nothing but a promissory note, it is not real money, but rather a piece of paper, that says the government of Canada (or the U.S.A.) owes us the money, because after they took the gold out of circulation, there is really no money left, and therefore there is nothing to pay our debts with! All we have is the government's promise to pay - worthless IOUs that is not backed with anything other than the government's coercive force which dictates to us that we have to accept this form of "money" or we get nothing for our labour.

The banks have no "credit", the credit comes from us. This credit is backed by our labour, our ability to repay whatever we may borrow. But the banks, the lawyers, the accountants and of course, the bottom feeders - debt collectors do not tell us that. The banks lie to us each time we borrow money because they really do not lend us any money. And whatever money they lend to us is ours to begin with, or at least the money did not come from their vaults as in the case of electronic or digital money.

Q: Where does the bank get the money to lend to their borrowers?

A: They use God's money, or money they create out of nothing, out of "thin air," from the sky - they have unlimited sources, made possible by stupid, gullible and trusting people like you and me who are led to believe that they are lending us their own money, or money deposited by their clients in their chequing or savings account. The banks really do not have any money or assets to lend. Money is created each time a borrower signs a promissory note which is then deposited into their account as "cash." Banking regulation does not permit the banks to lend their depositors' money. This cash value is then used by the bank to increase their book asset by the amount that is equivalent to the loan. It is not as though the bank had this money sitting in their vault waiting for someone to come along and borrow that money. The fact is, prior to the loan agreement, when we come to the bank to borrow money, the money did not exist. Therefore the money had to come from somewhere.

In the old days, when banking used to be honest and honorable, only those who have money can engage in the business of lending money. That was when the banking business used to operate just like any other business. If the bank did not have the money, they have to get the money from the central bank or another bank, rent the money at wholesale (low interest) and then lend the money at retail (higher interest) to the borrower. They cannot create unlimited amounts of money like they do now. It is true, banks were allowed to issue debt certificates, or notes, but these are really not intended to be circulated as money.

In recent times, since 1991, banks in Canada are no longer required to have money in order to lend money. You might say: "duh?" But that is true. This is called the zero reserve banking system. This is because there is really no such thing as money. So when you want to borrow money, you just go to one of these banks who does not have any money to lend, and they'll create money right in front of you, just like magic. Just sign a promissory note or loan application form and voila! With one quick computer entry, you now have money sitting in your account! Or the bank issues a cheque payable to you even though these cheques are not backed by any currency or legal tender money.

WARNING: Don't do this at home, do not write cheques without sufficient funds or you will be arrested and charged for the crime of false pretence under the Criminal Code. Only the banks are permitted (not by law) to write cheques with absolutely no funds and yet get away with it and then charge interest on these counterfeit, non-existent monies at criminal interest rates.

You may search for yourself in the Revised Statutes of Canada, Bank Act (1991 c.46) whether or not you will find any provision that Canadian Banks can lawfully create money of any kind. Banks can only legally do two things - take deposits and make loans. Their corporate charter or power is very limited. Nowhere in the Bank Act or the Canadian Constitution does it say that banks can lawfully or legally create money out of nothing and then lend us this counterfeit, non-existent money and charge us interest for it.

Only the Parliament of Canada (just like the American Congress) can legally create money. See under Part IV Legislative Powers, Section 91.14 - Currency and Coinage; 91.15 - Banking, Incorporation of Banks and the Issue of Paper Money; 91.20 - Legal Tender. So you see folks, only the Parliament can create and issue money, no one else, not even the Central Bank - Bank of Canada is duly authorized by law to create money. Also see: British North America Act 1867 (The BNA).

For more research materials regarding the Canadian Constitution and other related acts of government clickhere:

Q. How does the bank really create money?

A: Simple - they just write a cheque, or they make a book or computer entry. The banks don't even have to have any money of their own, one bank writes a cheque, the other banks have to accept it - according to the Canadian Payments Association clearing rules. This acceptance by the other banks (although they are all realistically one bank) protects the issuing bank from criminal prosecution for false pretence, an indictable crime punishable for up to 5 years. If no one complains, there is no crime. This is how our legal system works. To understand more regarding this subject from the bank's standpoint, please read Modern Money Mechanics published by the Federal Reserve Bank of Chicago. Remember that the Bank of Canada is considered the "13th Federal Reserve District" and therefore the material applies to the Canadian Banking system as well.

You may also download the book HOW I CLOBBERED EVERY BUREAUCRATIC-CONFISCATORY AGENCY KNOWN TO MAN by Mary Elizabeth: Croft, an excellent book which you can have for free:

Click here for more stuff:


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Blue Pill or Red Pill?

How Deep the Rabbit Hole Goes written by Andy Wachowski & Larry Wachowski

Morpheus: I imagine that right now you're feeling a bit like Alice. Tumbling down the rabbit hole?

Neo: You could say that. Morpheus: I can see it in your eyes. You have the look of a man who accepts what he sees because he's expecting to wake up. Ironically, this is not far from the truth. Do you believe in fate, Neo?

Neo: No.

Morpheus: Why not?

Neo: 'Cause I don't like the idea that I'm not in control of my life.

Morpheus: I know exactly what you mean. Let me tell you why you're here. You're here because you know something. What you know, you can't explain. But you feel it. You felt it your entire life. That there's something wrong with the world. You don't know what it is, but it's there. Like a splinter in your mind -- driving you mad. It is this feeling that has brought you to me. Do you know what I'm talking about?

Neo: The Matrix? Morpheus: Do you want to know what it is? (Neo nods his head.)

Morpheus: The Matrix is everywhere, it is all around us. Even now, in this very room. You can see it when you look out your window, or when you turn on your television. You can feel it when you go to work, or when go to church or when you pay your taxes. It is the world that has been pulled over your eyes to blind you from the truth.

Neo: What truth?

Morpheus: That you are a slave, Neo. Like everyone else, you were born into bondage, born inside a prison that you cannot smell, taste, or touch. A prison for your mind. (long pause, sighs) Unfortunately, no one can be told what the Matrix is. You have to see it for yourself. This is your last chance. After this, there is no turning back. (In his left hand, Morpheus shows a blue pill.)

Morpheus: You take the blue pill and the story ends. You wake in your bed and believe whatever you want to believe. (a red pill is shown in his other hand) You take the red pill and you stay in Wonderland and I show you how deep the rabbit-hole goes. (Long pause; Neo begins to reach for the red pill)

Remember -- all I am offering is the truth, nothing more. (Neo takes the red pill and swallows it with a glass of water) Those few humans who were either born into reality, or have successfully taken the red pill, become the focus of the movie's story -- their attempts to destroy the Matrix and liberate the mass of humanity that lives completely encapsulated in their pods and the illusions fed to them by the powers that be -- powers that will go to any length to maintain the illusion.

Extreme, but not much different than our modern system of corporate government and capitalistic socialism. The governing powers need things from us, not the least of which is our consent. To obtain our consent we are fed all manner of benefits. We are programmed from an early age to believe that such benefits are necessary.

To obtain these benefits, a number of conduits are attached to each of us. Adhesion contracts like Social Security, a driver's license; voter registration for a pretended choice of social masters, bank accounts where credit is manufactured for our use and other memberships, registrations, licenses, deeds and permits to insure the conduct of our affairs will be confined within the "matrix" of corporate governance.

We are given our own numbered "pod," a social net provided by the government. Educated according to mandates of the state, our belief system is further cultured by corporate media. There are various forms of "welfare" should we succumb to poverty or disease. If we are threatened or in danger we can call 911.

Government's job of "securing" us is made easier by the massive database tracking our movements, our finances, the location of our homes and businesses and our tax records. When old age creeps up, we can rely on government to take care of us.

The corporate/government/financial interface combines to create a massive illusion of benefits -- the American dream. For the price of a promise to indebt our future labors, pay our taxes and play within the system, there are seemingly limitless toys, castles, comforts and consumables for those who believe in this Matrix. For half our productivity taken in taxes (the other half in payments) and the deeds and title to whatever we think we own, government and its private affiliates will take care of us.

To live in this Matrix, all we have to surrender is any genuine sense of independence, personal responsibility and our right to live freely and actually own the fruits of our labors. And, like in the movie, a contingent of agents are deployed to combat any renegade humans who have a will for freedom from the Matrix which surrounds us.

As Morpheus expiained, "The Matrix is a system Neo, and that system is our enemy. When you are inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters, the very minds we are trying to save. Until we do, these people are part of that system and that makes them our enemies.

You have to understand that most of these people are not ready to be unplugged and many are so hopelessly dependent on the system, they'll fight to protect it." Why will blue pill people fight to protect a Matrix that enslaves them? It's all they know. And all their toys, castles, comforts and consumables will be gone without the Matrix. Their whole illusionary existence will evaporate, leaving them naked and alone.

What won't the blue pill people in our current "real" world look at? They refuse to acknowledge they are they are funding their enslavement to a socialist homeland police state. Last month, a few "red pill" people traveled to D.C. for an eloquent conclusion to Freedom Drive 2002, exposing the fraud of the l6th Amendment, the IRS, and the federal income tax. But the blue pill people remained comfortably in their coma, ever willing to pay a tax they do not owe. They fund Congress and the Nazi/moron president's implementation of America's new Third Reich, so they can feel "secure." And what greater "matrix" is there, than our current "fiat;' financial system?

We "believe" that a piece of paper with the picture of a dead president has the value of the number printed on it and that one dead president is more valuable than another. We don't even consider that the use of this dead president paper is the direct cause of our own enslavement.

Have you ever seen your bank account? It's not there. Only the slight-of-hand practiced by the teller and the accountant behind the scenes makes this illusion look real to the blue pill people.

How deep does the rabbit hole go? Near the end of the movie, the Matrix's agent Smith acclaims the virtues of the Matrix to the captive red pill people's leader Morpheus: "Have you ever stood and stared at it? Marveled at is beauty; its genius? Billions of people, just living out their lives -- oblivious."

From the December 2002 Idaho Observer: Now that you're here, you have no more excuse. You have to make a decision, as to whether you want to take the blue pill or the red pill. You take the blue pill, you simply close your eyes and nothing happens, your world stays the same, you go to sleep, you wake up, you go to work, you get your pay checks, you pay your debts, you pay your goes on as usual, until the day you die. You take the red pill, your entire world changes, your eyes will be opened, you'll never go back to sleep, your life will never be the same... I cannot tell you what will happen to you, you have to live it, to know it and to understand it. But one thing I can tell you... and I guarantee it, that you will no longer be bound by the powers that be, because the truth will set you free... forever.