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Rumor Mill News Reading Room, Current Archive

Reader VF - In England, the owners of large estates would engage Estate Appraisers...

Posted By: igots2no
Date: Thursday, 31-Mar-2016 07:29:05
www.rumormill.news/43807

In Response To: 2ND LETTER TO DAVID CRAYFORD by American Lawyer (igots2no)

In England, the owners of large estates would engage Estate Appraisers to appraise
their estates, on a yearly basis. If the total appraised value of the estate was
greater than the previous year, they would conclude that the estate made a profit.
But if the total appraised value of the estate was less than the previous year, they
would conclude that the estate had a loss. The financial recording system, which was
used at that time, was the 400 or more years old Double-Entry Bookkeeping System.

The first professional organizations for accountants were established in Scotland.
The Edinburgh Society of Accountants and Glasgow Institute of Accountants were set
up in 1854, followed by the Aberdeen Society of Accountants in 1867. After the
Glasgow Institute petitioned Queen Victoria the three organizations were granted a


royal charter. Fast-forward three years and the same designation was also adopted by
the Institute of Chartered Accountants in England and Wales (ICAEW).
For many thousand years, financial recording and reporting did not require
Accountants. These newly instituted accounting organizations required a market for
their services.

Since many of the major UK banks had branch banks in the United States, the Accrual
Accounting System became widely used in the United States. Many of the UK accounting
firms established branches in America; the American Association of Public
Accountants (AAPA) was formed in 1887. The American Association of Public
Accountants was succeeded by the Institute of Public Accountants in 1916. The name
was changed to the American Institute of Accountants in 1917 and remained so until
1957, when it changed to its current name of the American Institute of Certified
Public Accountants. The American Society of Certified Public Accountants was formed
in 1921 and acted as a federation of state societies. The Society was merged into
the Institute in 1936 and, at that time, the Institute agreed to restrict its future
members to CPAs. The 2015 Revenues of the Top Four Accounting Firms totaled 123.7
billion Dollars.

"Give me control of a nation's money and I care not who makes its laws" (Mayer
Amschel Bauer Rothschild)

This legislation was even worse than the establishment of both the privately owned
Federal Reserve System Banks and the Internal Revenue System (IRS). From 1854,
Accountants and their Accrual Accounting System is the ultimate cause of the
destruction of the current Western commerce. After thousands of year history, China
believes that all debts are liabilities. It had been a cultural tradition that all
debts should be paid before their Lunar New Year.

Since commerce is 150,000 years old and the Double-Entry Bookkeeping System is at
least 600 years old, commerce functioned very well until the introduction and
application of the Accrual Accounting System and Accountants. The Debt-based Fiat
currency and Pseudo-Capitalism are collapsing, and will Bankrupt the UNITED STATES
Corporation very soon.

Benjamin Fulford and his so-called White Dragon Society desires to set-up a
meritocratic financial organization, which is impossible. It has taken 66 years to
establish a meritocratic financial system.

O.I.T.C.'s mandate is not to replicate China. Unfortunately, all gold that is
contained within Combined International Collateral Accounts of the Global Debt
Facility has no monetary value. Gold is not currency until a recognized sovereign
currency is permanently attached to gold's purchasing power.

Even though O.I.T.C. is a sovereign, it does not have a globally recognized
sovereign currency China has been working very hard to make its Yuan a globally
recognized sovereign currency. When that happens, all gold world-wide will become
money and currency per a given weight. Like every owner of gold, O.I.T.C. must wait
until its gold is monetized.

I want to apologize for the length of this response, but I thought that there was a
need to inform the primary cause of the financial collapse of all countries that
implemented the fraudulent basis of the Accrual Accounting System and the Accounting
organizations.



RMN is an RA production.

Articles In This Thread

2ND LETTER TO DAVID CRAYFORD by American Lawyer
igots2no -- Wednesday, 30-Mar-2016 23:06:24
Reader VF - In England, the owners of large estates would engage Estate Appraisers...
igots2no -- Thursday, 31-Mar-2016 07:29:05

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AN EXPLANATION OF THE FACTIONS