Dear Friends, and Patriots:
Before anyone begins to think that forgiving these bankers of all their trespasses, is a good thing, why not count up some of those trespasses:
From V.K. Durham --
<< While researching ( October 2002 ) the unauthorized uses of BONUS 3392-181 ( TRUST OWNED ) recently in the WORLD BANK-IMF ARCHIVES as "Uses of BONUS 3392-181, MAY 1, 1875 by the U.S. Department of the Treasury, U.S. Federal Reserve" out of over 50,000 plus searches 5,868 unauthorized uses were found. This search was copied off and forwarded on to the Bureau of Public Debt and U.S. Dept. of the Treasury via fax. >>
The complete list of banks and financial groups who have availed themselves of COLLATERALIZATION without authorization can be found posted at the Rumor Mill News site given below:
: "The $3.5 Trillion Dollar Sure Thing"
: by James Sinclair
: We in the gold community have a sticky decision to make. There
: is legislation presently in process, which would prevent a
: meltdown of the over-the-counter derivatives as it pertains
: to the granting entities, thereby removing from the
: financial perpetrators the risk of their miscalculated
: deeds or misdeeds. After all the legalese and flowered
: words are removed, what this bill intends is simple. It
: would prevent auditors, attorneys and bankruptcy judges
: from securing the assets of the profitable legs (offsetting
: transactions) of a derivative spread and protecting under
: chapter 11 those seeking to collect from the losing side
: (offsetting transaction). The only way these computer
: falsehoods (OTC derivatives) can go bust is if the
: transactions are split apart in bankruptcy proceedings (the
: profitable side seen as money and the loss side bankrupt),
: as would be the present effect of the now standing laws
: concerning bankruptcy. The new law would make the netting
: of the profit and loss to zero in the transaction in case
: of financial failure by the grantor.
: The real sin in this situation is that the law is akin to a
: giant erasure that will run through the majority of 74
: trillion dollars of transactions that stand now as special
: performance requirements that in truth cannot perform. The
: constructors of these will walk away with all their
: commissions and spread profits intact. It will be the
: largest pork belly bill ever granted for anyone in US
: history, particularly now for the banking and investment
: industry. It is a gift of no less than $3.5 trillion in
: revenue that these transactions have produced over the past
: 12 years of their ascendancy.
: On the pro side of this legislation, no one in their right
: mind, myself included, wants to experience the downfall of
: this mountain of worthless paper. Its economic, social and
: political impact is simply too awful to consider.
