Banks are businesses and just like any other business they are bust
whenever liabilities exceed assets. Of course signs that this
situation is in danger of arising are apparent before it
Its at that point that banks seek interventions either by investors
If they fail of course then they reach the point where they must
trading. That would be calamitous. Not only would savers lose access
to their money (even a government guarantee takes time to put into
effect) but worse than that companies would lose their operating cash
and reserves. They would not be in any position to pay either their
bills or wages. They would soon be following their bank into
It's for this reason that governments really have no alternative but
to intervene. They intervene either by loaning money (usually at
punitive rates of interest) or by buying shares in the bank specially
created for the purpose (diluting the holdings of existing share
holders) . Ultimately the banks will recover their profitability and
the loans will be repaid. The improved fortunes of the bank
should enhance the value of its shares which can then be sold back to
the market at a profit.
Money from thin air, a true account of how banks manipulate the system
their own nefarious greed and I don't buy into the bullshit that the
were ever in any trouble in this country or any other, it's a scam,
and mirrors illusion. I hope you take on board Melanie the piece below
how ALL banks around the world less the Islamic ones operate
Banking is a SCAM at Every Level
Kevin Boyle - No One To Vote For November 20,2010
A doubt or two has been expressed which I have forwarded to Mr O'Dea.
response is posted at the end of this article here*. Also, his
clearly placed before us( see below). This whole saga beautifully
the scam at the very heart of all bank lending.
The Personal: Darrell O'Dea
My mother came to over to London from County Longford, father from
Donegal. I read a book yesterday 'The Blank Of Ireland', free online
that made me proud to be Irish.
Darrell O'Dea begins with a tirade of heartfelt rage against the Bank
Ireland and the disastrous effects its parasitical practices had on
generations of his own family. He found himself in the familiar 'death
('mortgage') to the tune of hundreds of thousands of Euros (by the end
the process he entertainingly describes).
His beginning was a decision to try to take control of his own
rather than continue to roll over and passively comply with the
the devouring beast tormenting him.
Darrell did not refuse to pay his mortgage.
Instead he wrote a letter to the Bank containing the following:
We will be happy to pay any financial obligation that we might
as soon as we receive the three documents listed below:
1) Validation of the debt- the actual accounting.
2) Verification of your claim against us, i.e. a sworn affidavit or
3) A copy of the contract binding both parties.
What Darrell understood was that it was highly unlikely that the bank
be prepared to comply with this entirely reasonable request because
fundamentals of money created as an interest-bearing debt are a
Law dictionary (9th Edition)
"A knowing misrepresentation of truth or concealment of a material
induce another to act to his or her detriment."
When anyone takes out a mortgage of £100,000 (say), as soon as the
papers are signed the £100,000 is written into the banks books as an
an asset which can be used by the bank as a basis for future
(The fractional Reserve system allows banks to lend approximately £10
every £1 that exists as assets in their books [can we be surprised
international banks blow huge bubbles that repeatedly 'pop'?]).
So, if the full sum of the mortgage is IMMEDIATELY paid into the bank
it is) why should anyone be asked to pay interest on a debt that debt
really existed as a loss to the bank in the first place?
This is the whole money-out-of-thin-air banking scam in a nutshell.
Needless to say, the Bank of Ireland failed to forward the requested
documents and Mr. O'Dea refused to make his payments until they did
The bank employed all the usual steps of legal intimidation, bailiffs
but all to no avail. Mr.O'Dea's responses were legally based at every
and demonstrated to the third parties that their intervention in a
dispute was a contravention of the law. The bailiffs (and others)
The full story, all taking place between February and October of this
is a highly comical read in places. As Mr. O'Dea's mortgage ballooned
because of all the extra fees the banks were charging for their
actions, he took some aggressive steps of his own. "Darrell O'Dea"
registered his name as a trademark and charged the bank 10,000 Euros
time they used it (i.e. every time they sent him a letter).
Near the end of the dispute Mr.'ODea 'owed' the bank in excess of
Euros and the bank 'owed' Mr.O'Dea 2,032,000 Euros.
The comical thing is that Mr.O'Dea's charges have a sounder legal
than the bank's.
However, to cut a long story short, the rather excellent outcome was
'The Bank of Ireland' simply cancelled his mortgage.
Here's the letter they sent him.
What a result!
Darrel you have won my everlasting respect.
I'm sorry if I have 'given away' your story but I think many who will
bother to read an 80-page book might read a short article and get the
THERE IS A GOOD REASON WHY MONEY-LENDING AT INTEREST WAS BANNED BY
SOCIETIES FOR THE GREATER PART OF THE LAST TWO MILLENNIA.
1) IT IS A FRAUD AGAINST THE BORROWER.
2) IT DELIVERS MONSTROUS POWER INTO THE HANDS OF THE LENDER.
Our ancestors understood something that we have been conditioned into
Please open this pdf, save it and read at your leisure. In principle
is no reason why the criminal banking system cannot be brought down by
numbers of people taking exactly the same actions as Mr. O'Dea. In
one wonders if the courts would honestly follow the law.
It should be understood that the principles involved here apply not
mortgages but to ALL loans taken out with banks.
The loan appears as an asset immediately on the banks books so the
of interest on a non-loss is, again, fraud. As Mr.O'Dea says in an
given here (and below), if you write a letter to the bank with which
hold the loan requesting to close your account with that bank and
invoice for that loan, they will never send you such an invoice.
If they were to send you such a document it appears that their actions
from being mere deception (a civil matter) to extortion (a criminal
..you couldn't make it up).
The National: Government Bonds
Again, when our government 'borrows' money, it hands over 'Bonds' to
value of the money created (out of nothing) by the bank. This Bond is
immediately written as an asset into the bank's balance sheet.
So, again, the bank gets all its money back the moment it 'lends' it.
Therefore, why do we pay interest (that might take a full century to
back' in the case of the massive sums involved over the last two
children (and maybe another 3 generations after them) will pay back
many times the sum we didn't really borrow in the first place.
The International: Ireland's (and everyone else's) Current Bail-Out
Speculators, mostly based in the US, are attacking the Euro to keep
dollar strong. The financial mafia have decided that Ireland's banks
to be 'bailed-out' again. It is possible to argue that Ireland's
sheets are little different from many other European countries but
wisdom created by the political/media class is that Ireland must take
money to prevent collective Euro disaster. It will not stop there.
bail-outs will move from one country to another until every country
irreversibly in the pitiless and iron grip of the global central
These 'loans' do not go to the countries involved, they go to the
hold the various national debts of those countries.
THIS WHOLE SCAM IS SIMPLY A TRANSFER OF WEALTH FROM THE POOR TO THE
Wealth and power is being transferred to a tiny oligarchy before our
READ THE PROTOCOLS OF ZION. EVERYTHING THAT IS HAPPENING IS IN THERE.
These people already own us, as current events demonstrate, but what
do future generations have when every aspects of their lives, and
their thinking too, will be controlled (through the media and the
system) to serve the interests of those who OWN EVERYTHING.
Start demanding invoices for debts.
Bring down the banks.
Start thinking about realistic alternative systems like 'Social
Credit' or ...