Time

Dishonourable Debt: Why Borrowers Are Not Legally Bound To Repay Bank Loans

 

I intend to do what little one man can do to awaken the public conscience, and in the meantime I am not frightened by your menaces. I am not a giant physically; I shrink from pain and filth and vermin and foul air, like any other man of refinement; also, I freely admit, when I see a line of a hundred policemen with drawn revolvers flung across a street to keep anyone from coming onto private property to hear my feeble voice, I am somewhat disturbed in my nerves. But I have a conscience and a religious faith, and I know that our liberties were not won without suffering, and may be lost again through our cowardice. I intend to do my duty to my country.1

Upton Sinclair, Letter to the L.A. Chief of Police, 17 May 1923

 

A classic proverb holds that “there is honour among thieves”.

For 99% of thieves, this proverb is actually true.

But there is a minority of thieves, alas, who have no honour at all. They are the thieves who create 97% of our moneyin the form of debtthrough the magic of double-entry accounting.

Thanks to the added magic of compounding interest owed on all the money, the total amount of debt owed worldwide has grown so large, it is now impossible to repay. Although, truth be told, because all of the ‘money’ is actually debt, it has always been impossible to repay, because repaying all the debt would eliminate all the ‘money’.

As two authorities on the matterone, the High Priest, the other, a mere deacon of the Federal Reserve Bankintoned way back in the Great Depression:

If there were no debts in our money system, there wouldn’t be any money.2

If all the bank loans were paid up, no one would have a bank deposit, and there would not be a dollar of currency or coin in circulation. This is a staggering thought. We are completely dependent on the commercial banks for our money. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp upon the picture, the tragic absurdity of our hopeless position is almost incredible – but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it is widely understood and the defects remedied very soon.3

 

If you were not previously familiar with the illogical, paradoxical, circular pseudo-realities that arise from double-entry accounting, then Welcome to Numberland, Alice.

Even though this is the objective truth, the irrefutable reality of how the debt-based ‘money’ system works, most of us continue to believe in the impossible.

That is to say, we continue to believefalselythat we are bound to honour our debts.

Famed anthropologist and author of Debt: The First 5000 Years, David Graeber explains:

That common-sensical notion not only that it’s moral to pay one’s debt, but also that morality essentially is a matter of paying one’s debts can bring people to justify things that they would never think to justify in any other circumstance.4

 

Economist and historian Michael Hudson says that the bankers have known about this anthropological discovery since at least the 1980’s:

They found out that the poor are honest. Almost the only people who believe they should repay their debts are the poor people. And in fact, the less money you have, the more you believe the debts should be paid.5

 

Nearly 2500 years ago, the man widely acknowledged to be the foundational figure for Western science, philosophy, law-making, and mathematics, gave this instruction to lenders and borrowers:

μηδὲ νόμισμα παρακατατίθεσθαι ὅτῳ μή τις πιστεύει, μηδὲ δανείζειν ἐπὶ τόκῳ, ὡς ἐξὸν μὴ ἀποδιδόναι τὸ παράπαν τῷ δανεισαμένῳ μήτε τόκον μήτε κεφάλαιον

No one shall deposit money with anyone he does not trust, nor lend at interest, since it is permissible for the borrower to refuse entirely to pay back either interest or principal.6

 

It turns out that Plato was right.

It is permissiblelegallyfor all the world’s borrowers to refuse to honour all their debts to all the world’s banks.

The reason why is becauselegallyno bank has lent us any money.

In factaccording to the banks themselves—legally, all the money in the banks was lent by us to them.

(Feeling dizzy Alice?)

According to Black’s, the most widely used law dictionary in the United States7, “money” is legally defined as (emphasis added):

A general, indefinite term for the measure and representative of value; currency; the circulating medium; cash. “Money” is a generic term, and embraces every description of coin or bank-notes recognized by common consent as a representative of value in effecting exchanges of property or payment of debts. Hopson v. Fountain. 5 Humph. (Tenn.) 140. Money is used in a specific and also in a general and more comprehensive sense. In its specific sense, it means what is coined or stamped by public authority, and has its determinate value fixed by governments. In its more comprehensive and general sense, it means wealth.8

 

Rather than lending us legal money, bankers have misled and deceived us into renting a record of a promise to pay legal money.

They have misled and deceived us into believing that their record of their promise to pay us money, is actually money (legal substance).

They have also misled and deceived us into believing that their record of their promise to pay us money, is actually our money (ownership title).

And here’s the real kicker.

Despite the fact that they claim to have loaned us all this money, thanks to the magical paradox at the heart of double-entry accounting, they also claim, simultaneously, precisely the opposite to be true that we have actually loaned all that money to them.

(We will return to this later – think “bail-in”).

It really does beg the question, “Does anyone really own money?”

Because the ‘money’ that the bankers have purportedly ‘loaned’ to usthat we have loaned to themis neither money in true legal substance, nor is it certain just whose ‘money’ it actually is, we can confidently assert that the bankers have

  • misrepresented the sign, true substance, and true value of the “consideration” component of the loan agreement,
  • engaged in misleading and deceptive conduct in the withholding and/or obfuscation of key information pertaining to their capacity to deliver on their promise of performance,
  • made false, misleading, and deceptive statements and representations in the inducement of borrowers to enter into an agreement of exchange of mutual performances (the “offer”),
  • failed to deliver on their promise of performance (“failure of consideration”),
  • engaged in misleading and deceptive conduct in obfuscating their failure to deliver on their promise of performance, and
  • gained dishonest advantage (“interest”, “yield”, “return”) through these acts of misleading and deceptive conduct.

You may well be feelinglike Alicerather incredulous about this, and questioning how it is possible. After all, surely the financial accounting standard-setters and our government regulators would prevent such things from happening?

Alas, no.

Just as with double-entry accountingthe magical foundation on which the entire parasite worm-ridden edifice of global banking and finance is built—the truth is exactly the opposite.

Ever since the “financial reporting revolution ushered in by financial economics ascendance in the 1960s”9 and the “increasing hegemony of neo-liberal ideology over issues of public policy and regulation ushered in by Reagan and Thatcher”10, the financial accounting standards bodies and government regulators have aided and abetted the bankers in their misleading and deceptive conduct:

Well documented is the growing dominance of the social sciences and of business education by neoclassical economic ideas (Ferraro, Pfeffer, & Sutton, 2005), which form the intellectual foundation of neo-liberal morality and politics.11

Transforming accounting in the academy into a neoclassical economics sub-discipline (Reiter & Williams, 2002), which the financial reporting revolution accomplished, has impoverished accounting discourse as a moral discourse (Reiter, 1998; Williams, 2000) and led to the understanding of accounting as a practice whose purpose is to cohere with a world made natural by the discourse of neoclassical economics.12

 

For at least four decades, the private not-for-profit (oh really?) financial accounting standard-setters (FASB, IASB) have continued to actively aid and abet the bankers’ misleading and deceptive conduct, despite frequent accounting-enabled corporate scandals and resultant financial crises, and the often stunning revelations and criticisms presented in the peer-reviewed accounting literature (emphasis added):

The savings and loan failures in the late 1980s and 1990s, the Enron, Global Crossing and Tyco corporate scandals, Andersen’s demise, and the sub-prime mortgage crisis all relate to deception [emphasis in original]. All such scandals involved to varying degrees the telling of accounting untruths…13

Accounting representations are true if they predict, or true if they abet the privileged group to pursue its objectives, a quite different notion of true than implied by the popular usage…14

[M]any accounting signs no longer refer to real objects and events and accounting no longer functions according to the logic of transparent representation, stewardship or information economics.15

[A]ccounting today no longer refers to any objective reality but instead circulates in a “hyperreality” of self-referential models.16

The accounting sign now precedes (and even creates through its ‘‘sign value’’) the referent that it once purported to represent. It is no longer an abstraction or an appearance of any ‘‘real’’ thing. It is its own pure simulation, making circular references to other models which themselves make circular references to accounting signs.17

Are such disasters [Enron] necessary before accountants begin to realise how indispensable it is to make a distinction between conceptual representation (including accounting representations and misrepresentations) and the reality to be represented?18

 

As mentioned earlier, around 97% of so-called ‘money’ in ‘circulation’ (hint: it doesn’t actually circulate in the true meaning of the word; it magically disappears in one place, and magically reappears in another) is not actually money (“coined or stamped by public authority”)19. It is bank-created ‘credit’.

By legal definition, bank ‘credit’ is not real money.

Bank ‘credit’ is actually just an electronic double-entry accounting record of the bank’s promise to pay real money.

However, this objective legal reality has not prevented the FASB/IASB from aiding and abetting the bankers in their false, misleading and deceptive misrepresentation of the mere sign of money as actually being real legal money, and consequently inducing prospective borrowers into forming loan agreements for the purpose of gain for the bankers (“interest”, “yield”, “return”) on the basis of this fundamental misrepresentation.

For example, effective July 1, 2009—that is, in the middle of the global banking liquidity crisis known as the “GFC”—the Financial Accounting Standards Board (FASB) introduced Accounting Standards Codification (ASC) §305 Cash and Cash Equivalents. This new standard effectively sanctioned—and obfuscated—the banks’ misleading and deceptive conduct in renting records of promises to pay under the guise of so-called ‘money’ (emphasis added; duplicitous weasel words underlined):

Cash

Consistent with common usage, cash includes not only currency on hand but demand deposits with banks or other financial institutions. Cash also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. All charges and credits to those accounts are cash receipts or payments to both the entity owning the account and the bank holding it. For example, a bank’s granting of a loan by crediting the proceeds to a customer’s demand deposit account is a cash payment by the bank and a cash receipt of the customer when the entry is made.

 

This codification of the bookkeeping entry record of bank ‘credits’—the record of a promise to pay cash—as actually being (is) ‘cash’, is in clear contradiction of the legal definition of money.

An electronic record of a promise to pay cash

  • is not “coin or bank-notes”,
  • is not “coined or stamped by public authority”,
  • is not “currency” or “cash”; that is to say, not in any sense that is or would be “recognized by common consent (Black’s) as being actual “currency” or “cash” (i.e., coin or bank-notes; legal tender).

According to the International Institute of Certified Public Accountants (IICPA) in an Open Letter to both the FASB and the International Accounting Standards Board (IASB) in May 2013, this codification of banks’ electronic ‘credits’ as (not representing but) actually being “cash” is also in breach of Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS); (emphasis added):

Demand deposits referred to by the public as “cash in bank” is recorded and reported by monetary financial institutions (MFI) in units of account by double-entry bookkeeping in a process which the MFIs call “lending” — but which is effectively a nullity — by debiting loans receivable and crediting demand deposits.

These so created units of account are then denominated at will in dollars, pound sterling, euros, etc., depending on the terms of the documentation or underlying promissory note, or whatever is the legal document giving rise to this type of “lending,” using whatever is the name of the currency in the jurisdiction in which it takes place, but legal tender the “demand deposits” are not.

These so-called “loans receivable” that give rise to these so-called “demand deposits”

  • are not assets within the meaning of economic resources,
  • do not have the capacity to eventually result in cash inflows (cash being legal tender or central bank money, so called federal funds),
  • are created bank-internally and therefore in violation of self-dealing,
  • have no cost basis,
  • have no market value except by way of assignment against like-kind-nullities to or from other MFIs never settled in legal tender or central bank money.20

 

If that were not enough, it gets worse.

Astonishingly, the FASB’s ASC §305-10-55-1 Implementation guidance tumbles even further down the rabbit hole of logical and legal unrealitynot to mention amoralityin stating what the bank customers’ perspective of so-called “Cash and Cash Equivalents” “shall” be (emphasis added):

Cash on deposit at a financial institution shall be considered by the depositor as cash rather than as an amount owed to the depositor.

 

This codification by an unelected, private not-for-profit financial accounting standards organisation of how the general public “shall” consider their so-called “cash on deposit”, is in clear contradiction of

  • the legal definition of “money”,
  • the common understanding of the word “cash” as meaning a government-created tangible entity (i.e., legal tender notes and coins),
  • the banks’ own balance sheet records affirming all customer “deposits” as being a Liability (i.e., amounts owed to customers),
  • the banks’ perspective regarding ownership title (claim) on this so-called “cash” (a perspective backed, incidentally, by the Financial Stability Board in its G20-wide “resolution regime” in preparation for “bad” bank bail-ins).

The implications of this are disturbing.

The FASB has ex post facto codified that banks may consider bank ‘credits’ (a record of a promise to pay cash) as actually being “cash” for accounting purposes; that the customers’ perspective of bank ‘credits’ “shall” be that those ‘credits’ are (literal physical) “cash”, and, that they are not amounts owed to them by the bank, wholly irrespective of whether or not the banks have actually met (or will actually meet) their legal obligations under contract law.

While the FASB might imagine that it can—without any practical or legal implications—surreptitiously decree how hundreds of millions of “depositors” “shall” view their “deposit”, the truth of the matter is that an immediate contradiction, and critical conflict of interests arises.

Quite simply, the FASB’s ASC §305 Cash and Cash Equivalents codification does not even comply with the rules of double-entry bookkeeping, much less the common understanding of the true meaning of the word “cash”. It has potentially far-reaching implications for the legal standing of banks’ claims on borrowers for the (re)payment of “consideration” (plus compounding “interest” in addition), in that it serves to highlight the false, misleading, and deceptive statements and representations of banks in the formation of loan contracts.

To illustrate this critical point, the following diagram depicts all of the perspectives (views), concepts, and realities that are inherent in a double-entry bookkeeping-based ‘account’ of the bank Lender – customer Borrower relationship. Keeping in mind that—since the time of the Stoics—it has been considered an “indispensable” fundamental of philosophical and scientific discourse to express clearly the difference and relation between the threefold notions of the sign (sound, written symbol, etc), the conceptual idea (meaning) communicated by the sign, and the real (the actual object or event behind the concept)21, all three notions — “Sign”, Concept, (Real) — are clearly marked for each party and each perspective of the two-sided, legally-binding mutual “exchange” of promises-to-pay.

psalmistice_DE_FASB_ASC-305-10-55-1_ASC-305-10-20

 

Consider carefully the following:

  • Irrespective of whether one adopts the perspective of the Borrower or the Lender, any so-called “cash” or “demand deposit” appears only as a sign (sound, name, symbol, i.e., a misrepresentation) of the Lender’s IOU,
  • The real object or event underlying the purported existence of “cash in bank” (or “demand deposit”), is the Lender’s IOU (promise-to-pay); in other words, the real object or event is the Lender’s promise of performance (“consideration”), and not “coin or bank-notes” “stamped by public authority”,
  • The sign (“cash in bank”, “money”, “funds”, “$”, “€”, “£”, etc) that is purported to the Borrower by the Lender to not merely represent but to actually be the underlying reality, is false, misleading, and deceptive,
  • As the Borrower has been induced to accept the offer to contract with the Lender on the basis of false, misleading, and deceptive representations, the loan contract is unenforceable,
  • The Lender’s IOU is simultaneously an Asset of the Borrower, and a Liability of the Lender (contradicting §305-10-55-1),
  • As a loan agreement requires inter alia the exchange of mutual performances, and the Lender’s obligation is defined as necessarily preceding that of the Borrower, the recording and reporting of the Lender’s IOU as a Liability demonstrates that the Lender has failed to deliver on its promise of performance (“consideration”), i.e., to provide the Borrower with money (“coin or bank-notes” “stamped by public authority”); therefore, the loan contract is unenforceable.

 

There is one final matter to consider.

Since early 2009, the unelected Financial Stability Board (FSB)—perennially chaired by Goldman Sachs alumni—has been working with G20 governments and financial regulatory authorities to implement a global banking “resolution regime”. One of the Key Attributes of this scheme is the passage of legislation granting governments the power to “bail-in” the “deposits” of bank customers in order to save or reestablish a “bad” bank or “systemically-important” financial institution.

Despite the reality that all so-called “customer deposits” have in fact been created ex nihilo by the banks through the act of “lending” to customers, and are reported as a Liability of the banks on their balance sheets (i.e., as ‘money’ still owed to the customer), both the banks and the FSB’s global banking resolution regime consider the customer to be a “creditor” of the bank.

In other words, rather than the bank having purportedly loaned (but not yet delivered) ‘money’ to the customer, the bank and the FSB deem that the situation is precisely the reverse – the customer has purportedly loaned his/her ‘money’ to the bank (note the implicit assumption of customer ownership).

Believe it or not, there is an explanation—albeit a perverse, morally abhorrent and unconscionable explanation—for this, and in turn, for how the creeping global preparations to legally steal the “deposit” assets of bank customers (refer above diagram) is able to be “justified” by the banks, the financial and political authorities, and the unelected, BIS-funded, Goldman Sachs alumni-chaired FSB.

At the heart of the matter is the ever-present paradox of perspective inherent in the Babylonian Duality Principle on which double-entry accounting is based.

Banks are able to create new (so-called) ‘money’ ex nihilo through the loan origination process. As this is recorded using double-entry accounting, every new loan results in a new Asset and a new Liability on the banks’ balance sheet records.

However, because banks act both as new loan (thus, new ‘money’) originators and as financial intermediaries, there is no way of disaggregating the Liability side of any bank’s balance sheet in order to clearly distinguish between those “deposits” that have arisen in consequence of that bank’s own lending (so-called), and those “deposits” that have arisen in consequence of that bank’s intermediation (i.e., ‘transfers’ of ‘money’ from one customer account to another customer account at the same bank, or, from the customer accounts of other financial institutions to customers of the bank).

Whether or not any particular unit of any particular “deposit” amount could truthfully be defined as ‘money’ loaned to the bank by a customer, or, loaned by the bank to a customer, is dependent on knowing with complete certainty how and when each and every unit came to be recorded in the customer account. The only customer account for which such certainty is possible, is a customer account created by the bank at the moment of first originating a loan, and, before any new entry for even one single fractional unit of the denominated currency has been either added to, or subtracted from that customer account.

There is one further exception – an account established for one of the bankers’ favourite clients—arms dealers, drug cartels, mafioso, and other criminal organisations such as the CIA—at the first moment of the client handing over real legal tender cash notes at the bank to open the account.

In any event, since even a ‘transfer’ of ‘money’ from one bank to another still has the same ultimate origin—an out-of-nothing creation of an electronic record of a mutual exchange of promises to pay—then from a whole-of-banking-system perspective it really doesn’t matter; all so-called ‘money’ on ‘deposit’ is simultaneously owned by the customers, and by the banks.

(Oh yes, by the way, since that ‘money’ is really just a record of a promise, and we all buy and sell mostly by way of ‘transfers’ entered in these electronic records, then, strictly speaking, we are all thieves, because none of us is actually giving real legal money in payment to our fellows in exchange for their goods and services, unless we actually “cash-in” the bank’s “offer” (promise) to pay us real money, in order to pay our fellow in real legal money – government-created legal tender cash notes and coins).

The bankersaided and abetted by the FASB, FSB et al—resolve this ownership contradiction by choosing to have their cake and eat it too. That is to say, the bankers take advantage of the embedded paradox of perspective in double-entry accounting, and arbitrarily decide who will be deemed the true owner of any and all “deposits” (i.e., who is debtor and who is creditor), depending—of course—on what suits the bankers’ best interests at any given moment in time.

In good times, it’s business as usual the bankers will consider your “deposit” account to represent ‘money’ owned by and owed to you, and willif they canhonour their promise to give you real legal cash on demand (but will far more commonly just ‘transfer’ your ‘credits’ to someone else’s account).

In not so good times, the bankers will consider your “deposit” account to represent a loan from you to the bank … and so, as you are now just an “unsecured creditor”, what you thought was your ‘money’ in the bank can (and will) be legally purloined, to “bail-in” the “bad” bankers.

One might well ask why it is that the generally “unsophisticated” (i.e., misled and deceived) customers of banks should be made to suffer any loss or damage arising from a “bad” financial institution’s employees or executives’ malfeasance, misfeasance, or nonfeasance, and/or from their failure to use record-keeping systems and methods adequate to the task of clearly distinguishing between bank assets, and customer assets.

The answer lies (pun intended) in a relatively recent accounting concept advanced by the standard-setters, in consequence of the neoclassical / neo-liberal ideological takeover of economics, accounting, and financial reporting. This wonderfully Orwellian idea is called “decision usefulness” (emphasis added):

For standard-setters the overriding criterion of decision usefulness, which FASB and IASB narrowly define as helping to predict cash flows, has replaced veracity in financial reporting as an end in itself. The ascension of decision usefulness as a public rationale for FASB actions has produced for the profession the situation .. [of] .. simultaneous committing to two, often conflicting ideas of truth22

Decision usefulness has been and continues to be applied in accounting to justify its activities, a singular emphasis on an accounting discourse which we view as highly problematic and seriously impairing accounting as an ethical practice.23

Truth poses a genuine problem for accounting, one that cannot be so easily finessed by appeals to decision usefulness.24

[A]ccounting standard setters have replaced a responsibility for truth with decision usefulness, which, given the ambiguity of decision usefulness, effectively absolves them of responsibility for the consequences of their actions.25

 

In his recently released book The End of Alchemy, former governor of the Bank of England Mervyn King makes a similar observation (emphasis added):

“Regulation has become extraordinarily complex, and in ways that do not go to the heart of the problem. … Much of the complexity reflects pressure from financial firms. By encouraging a culture in which compliance with detailed regulation is a defense against a charge of wrongdoing, bankers and regulators have colluded in a self-defeating spiral of complexity.”26

 

Upton Sinclair famously said that “It is difficult to get a man to understand something when his salary depends on his not understanding it”.

Indeed, there are many who will doubtless object to the argument here presentedthat it is legally permissible for all the world’s borrowers to refuse to honour all their debts to all the world’s bankswith a reflexive, ill-considered, tediously shallow and laughably ironic dismissal that “this is all just semantics”.

Quite so.

Semantics (from Ancient Greek: σημαντικός sēmantikós, “significant”) is the study of meaning. It focuses on the relationship between signifiers—like words, phrases, signs, and symbols—and what they stand for, their denotation.27

 

The entire matter pivots on the question of truth. More specifically, the legal argument pivots on demonstrating that there has been a mis-representation of the truth, by the bankers.

What is the true reality, the real object or event that has been promised to the borrowers by the bankers—that is to say, what is the true object or event as commonly understood by the borrowersand re-presented to the borrowers by the bankers using the signifiers ‘money’, ‘cash’, ‘funds’, ‘credit’, ‘deposit’, ‘sum’, ‘amount’, ‘$’, ‘‘, ‘£‘, etc?

Has there, or has there not, been any false, misleading, or deceptive statements or representations made by the bankers to the borrowers, in order to induce the borrowers to agree to accept the offer to contract?

Have the bankers made any false, misleading, or deceptive statements or representations to the borrowers, that obfuscate a failure, potential failure, potential unwillingness, reasonably foreseeable or known incapacity of the bankers to deliver on their promise of performance?

And finally, have the bankers gained any advantage (“interest”, “yield”, “return”) from the borrowers through the use of false, misleading, or deceptive statements or representations?

May God grant the reader wisdom, and a sound conscience, to carefully and prayerfully judge the matter for themselves.

********

Regina: This isn’t your pixie dust is it.
Green: Well when you think about it does anyone really own pixie dust?
Regina: The fairies are quite proprietary about it. If they found out you stole it they would…
Green: Don’t worry about me. This is about you.

Once Upon A Time

********

DISCLAIMER: This essay is the opinion of the author. Nothing stated or implied in this essay should be construed to be legal or professional advice. For questions concerning your specific situation, please consult a qualified legal advisor.

********

[1] Upton Sinclair, Wikiquotes, https://en.wikiquote.org/wiki/Upton_Sinclair , 8 May 2016
[2] Mariner S. Eccles, Chairman of the Federal Reserve, testimony to the House Committee on Banking and Currency, September 30, 1941, cited by G. Edward Griffin, The Creature From Jekyll Island (Third Edition, 1998), p. 188.
[3] Robert H. Hemphill, Credit Manager of the Federal Reserve Bank of Atlanta, foreword to Irving Fisher 100% Money (New York: Adelphi, 1936) p. xxii, cited by G. Edward Griffin, The Creature From Jekyll Island (Third Edition, 1998), p. 188.
[4] David Graeber, What We Owe to Each Other, interview in Boston Review, February 15, 2012
[5] Michael Hudson, In Debt We Trust: America Before the Bubble Bursts, Media Education Foundation transcript (pdf), 2006
[6] Plato, Laws, Book V; Plato in Twelve Volumes, Vols. 10 & 11 translated by R.G. Bury. Cambridge, MA, Harvard University Press; London, William Heinemann Ltd. 1967 & 1968.
[7] Black’s Law Dictionary, Wikipedia, https://en.wikipedia.org/wiki/Black’s_Law_Dictionary, 4 May 2016
[8] What is Money?, Law Dictionary, http://thelawdictionary.org/money/, 4 May 2016
[9] Mohamed E. Bayou, Alan Reinstein, Paul F. Williams, To tell the truth: A discussion of issues concerning truth and ethics in accounting, Accounting, Organizations and Society, Volume 36 (2011), 109-124
[10] ibid.
[11] ibid.
[12] ibid.
[13] ibid.
[14] ibid.
[15] ibid.
[16] Norman B. Macintosh, Teri Shearer, Daniel B. Thornton, Michael Welker, Accounting as simulacrum and hyperreality: perspectives on income and capital; Accounting, Organizations and Society, Volume 25, Issue 1 (2000), 13-50
[17] ibid.
[18] Richard Mattessich, Accounting representation and the onion model of reality: a comparison with Baudrillard’s orders of simulacra and his hyperreality; Accounting, Organizations and Society 28 (2003) 443–470
[19] Positive Money, How Banks Create Money, http://positivemoney.org/how-money-works/how-banks-create-money/, 4 May, 2016
[20] Michael Schemmann (IICPA), Accounting Perversion in Bank Financial Statements — Demand Deposits Do NOT comply with IFRS (GAAP), 1 May 2013
[21] Richard Mattessich, Accounting representation and the onion model of reality: a comparison with Baudrillard’s orders of simulacra and his hyperreality; Accounting, Organizations and Society 28 (2003) p. 450-451, n. 12
[22] Mohamed E. Bayou, Alan Reinstein, Paul F. Williams, To tell the truth: A discussion of issues concerning truth and ethics in accounting, Accounting, Organizations and Society, Volume 36 (2011), 109-124
[23] ibid.
[24] ibid.
[25] ibid.
[26] Mervyn King, The End of Alchemy, quoted in Bloomberg, The Book That Will Save Banking From Itself, 5 May 2016.
[27] Semantics, Wikipedia, https://en.wikipedia.org/wiki/Semantics, 8 May 2016

Advertisements
Standard

18 thoughts on “Dishonourable Debt: Why Borrowers Are Not Legally Bound To Repay Bank Loans

  1. Kevin Moore says:

    Greater love of wealth hath no man than he who under pretence of lending takes your hard earned unto himself.

  2. Kevin Moore says:

    THE FALL OF BABYLON –
    .
    2 Peter 3:8-9 “But, beloved, do not forget this one thing, that with the Lord one day is as a thousand years, and a thousand years as one day. The Lord is not slack concerning His promise, as some count slackness, but is longsuffering toward us, not willing that any should perish but that all should come to repentance”.
    .
    With the Lord one day is as a thousand years – It is now early into the third day.
    .
    Mal 4:1-2
    “For behold, the day is coming, Burning like an oven, And all the proud, yes, all who do wickedly will be stubble. And the day which is coming shall burn them up,” Says the LORD of hosts,“That will leave them neither root nor branch. “But to you who fear My name The Sun of Righteousness shall arise With healing in His wings; And you shall go out and grow fat like stall-fed calves.”

    Jer. 50:21 “Go up against the land of Merethaim [symbolic Babylon], against it, and against the people of Pekod [symbolic Babylon], waste and destroy after them, says God, and do according to all that I have commanded you”.
    .
    .
    In 1991, at the start of the Canaanite/Edomite owned Banks war on Iraq’s Saddam Hussein, Jeremiah chapters 50 and 51 struck me on analysis as being especially significant in that they show what I see as the final stages of the Canaan/Edom Babylonian rule over the whole Earth.
    .
    I read a piece in Halley’s Bible Handbook which said – “These two chapters pronouncing the doom of Babylon were copied in a separate book and sent to Babylon, in a deputation headed by King Zedekiah, seven years before Nebuchadnezzah burned Jerusalem. The book was to be read publicly, and then in solemn ceremony, sunk, tied to a stone in the Euphrates, with these words, “Thus shall Babylon sink and not rise”.
    .
    Jeremiah 50:29 “Call up the archers [Arabs] against Babel all ye that prepare for conflict a bow, besiege it all around. Let none thereof escape, recompense her according to her work and according to all that she hath done, do unto her, for she hath been haughty against our Father even against the Sacred Man of Israel. Therefore her young men shall fall in the streets, and her men of war shall be silenced in that day says our Father Lord God of armies; for your day has come, the time I will punish you. And the haughty one shall stumble and fall, and none shall raise him up”.
    .
    Who are the “archers” ? Ishmael – Abrahams son ……….Genesis 21:20 “So God was with the child and he grew and dwelt in the wilderness and was an archer”. Strongs 693 [aw-rab ] means to lurk or lie in wait .694 [ar-awb] means “ambush”. 7198, Archer, means “bow-bender”.
    .
    Jer. 50:9 “For, lo, I am stirring up a company of great nations from a northern land against Babylon, and they will array against her. From there shall she be captured”.
    .
    Jer. 50:15 “Shout [ split the ears ] against her all around. She has given her hand, her foundations have fallen [feet of iron mingled with clay].
    .
    Jer. 50:17 “Israel is a scattered sheep, by lions driven away. First, the king of Assyria devoured him; and this last Nebuchadrezzah of Babylon has broken his bones”.[ see Daniel 6:24 ]
    .
    Jer. 50:21 “Go up against the land of Merethaim [symbolic Babylon], against it, and against the people of Pekod [symbolic Babylon], waste and destroy after them, says God, and do according to all that I have commanded you”.
    .
    Jer. 50:23 “How the hammer of the whole earth is cut in two and broken”. [This is Vulcans hammer, the god of confusion.]
    .
    Jer.50:24 “I have laid a trap for you, and you are also captured, O Babylon, and you did not know…….”
    .
    Jer.50:27 “Put to the sword all her bulls” [leaders – mighty ones].
    .
    Syrian Armed Forces successfully continue combating foreign backed terrorists -[Reports and Videos from Homs, Aleppo, Hama, Idleb, Deir Ezzor, Lattakia]
    .
    “One after another, each rat is pulled out of his sewer and exterminated. Erdogan, al-Saud… SAAF is coming! All kinds of international criminals and terrorism supporters will be the next target, their masters as well. There will be no hole in the world where they can hide…………………………….”
    .
    https://syrianfreepress.wordpress.com/2016/02/15/saaf-eagles/
    .
    Jer. 50:33-34 The Jubilee has passed, the Redeemer now pleads for the sons of Israel and Judah [Jerusalem – let plead for peace and prosperity] and gives turmoil to the inhabitants of Babylon. See Leviticus 25:47
    .
    Jer. 50:35 “A sword is on the Chaldeans, states God and on the residents of Babylon and on her head persons of any rank”.
    .
    Jer. 50:41 “Behold a people shall come from the north, and a great nation, and many kings shall be stirred up from the farthest parts of the earth”.
    .
    Jer. 50:43 “The king of Babylon has heard their announcement and his hands [not loins as in Daniel] became feeble, anguish took hold of him”. See Daniel 5:6 & 4:19-27 for the future of Babylon.
    .
    Jer. 50:46 “At the sound of the capture of Babylon the earth shall tremble, and a cry is heard among the nations”.
    .
    Jer. 51:5 “For neither Judah nor Israel has been forsaken by his God, by the Lord of armies, though their land was filled with guilt against the Sacred Man of Israel”.
    .
    Jer 51:6 “Flee out of the midst of Babylon”
    .
    Jer.51:7 “Babylon was a golden cup in the hand of God, making all the Earth drunk.The nations have drunk of her fermented wine therefore the nations are insane”.
    .
    Jer. 51:8 “Suddenly [see Jer.51:63, Rev.9:14, Exodus 51:1] Babylon has fallen; [only one fallen here as opposed to two in Revelation] and it is broken” [see Daniel 6:24 & 11:45].
    .
    Jer. 51:11 “Sharpen the arrows, fill the shields, God has raised up the spirit of the kings of the Medes [descendents of Abraham] for His plan is against Babylon to destroy it”.
    .
    Jer. 51:12 “Prepare the ambushes……[Arabs, Strongs 694]
    .
    Jer.51:27 “Call the kingdoms of Ararat [Armenia], Minni [Armenia] and Ashkenaz” [descendent of Japheth – Japhethites went to their allotment northwards and settled in regions around the Black and Caspian seas and became progenitors of the caucasian races of Europe and Asia. Gog and Magog are descendents of Japheth].
    .
    Jer.51:28 “Consecrate against her nations with the kings of the Medes”.

    Jer.51:32 “…….and that the passages are siezed. And they have burned the reeds with fire” [reeds = enclosed waters = Persian Gulf and Reed [Red] Sea]. The ambushers [Arabs] have trapped Babylons ships [confined in Oreb] at the passages,poured oil on the water and set it on fire? “And the men of war are terrified”.
    .
    Jer 51:34 “He has swallowed us like a jackal..” Strongs Hebrew concordance 8577 indicates that it is not a jackal but a large snake,which reminds me of the symbolic snake in the protocols of zion. “The dragon of the Greeks” says Pausanius, was only a large snake – “The Two Babylons” page 226.
    .
    Jer.51:41 “How Sheshach [symbolic Babylon] is captured”.
    .
    Jer.51 42 “The sea has come up over Babylon; she is covered with the multitude of its waves.” [In the Wizard of Oz the wicked witch of the west is “liquidated” by Dorothy throwing a bucket of water over her.]
    .
    Pillars on St. John the Divine Cathedral [ Jeremiah 51:42-44 ]
    .
    http://vigilantcitizen.com/sinistersites/sinister-sites-st-john-the-divine-cathedral/
    .
    http://c5c5c5.wordpress.com/tag/un-meddling-with-religion/
    .
    http://c5c5c5.wordpress.com/2010/09/23/the-un-meddling-with-religion-part-5/
    .
    http://www.nyc-architecture.com/HAR/HAR002.htm
    .
    http://outrasverdadesinconvenientes.blogspot.com.au/2012/02/ameaca-de-cumbre-vieja.html
    .
    Jer.51:64 “Then you shall say, “Thus Babylon shall sink and not rise from the catastrophe that I will bring upon her. And they shall be weary.” Thus are the words of Jeremiah.
    .
    Revelation 18:21-24. “Then a mighty angel took up a stone like a great millstone and threw it into the sea, saying, “Thus with violence the great city Babylon shall be thrown down, and shall not be found anymore…….23 ……For your merchants were the great men of the earth, for by your sorcery all the nations were deceived…..24 And in her was found the blood of prophets and saints, and of all who were slain on the earth.”
    .
    Jer.51:46 “And lest your heart faint and you fear the announcement that shall be heard in the land, the announcement shall come in a year, and after that the announcement shall come in another year; and there shall be violence in the land, ruler against ruler”.

    ……..

    Rev.17:17 “For God gave it into their hearts to do his mind – to act in one mind – and to give their kingdom to the beast. And the woman whom you saw is the great city [New York = 666 in english gematria] having a kingdom over the kings of the Earth [Canaanite owned Banks/UN]
    .
    “I sit as a queen and am not a widow”. “She is the express image of the beast that had the wound by the sword and did live”. See page 63 of “The Two Babylons” by Alexander Hislop. “Before 72 judges in Egypt, he, Nimrod was found guilty and put to death. His dead body was cut into pieces and different parts were sent to different cities around the country. This was done to be a terror to any who might after tread in his steps. From then paganism had to operate in secret, thus the “Mystery Babylon” under seal of secrecy and oath was born”.
    .

    From,
    “The Two Babylons” by Alexander Hislop, p.77
    .

    “……..In Egypt she was styled Athor——i.e., “the Habitation of God”. to signify that in her dwelt all the “fulness of the Godhead.” To point out the the great goddess-mother, in a Pantheistic sense, as at once the Infinite and Almighty one, and the Virgin mother, this inscription was engraven upon one of her temples in Egypt: “I am all that has been, or that is, or that shall be. no mortal has removed my veil. The fruit that I have brought forth is the Sun.”
    .

    From “Am,” “mother,” and “arka,” “earth,” you get “Amarka,” “The Mother of the Earth.”, alias Rhea, Cybele etc, The Mother of Gods and Men, alias the Roman Catholic Mary [the first Jesuits were Jews], the “queen of heaven” [Jeremiah 44:17,18,19,25], and most surely these manifestations which all represent Nimrods wife are represented by the “Statue of Liberty” in New York harbour. [ note 1, p.77. The Goddess Mother of Habitation” – “The Two Babylons” by Alexander Hislop.]
    .

    and from the same book page 158 — The Golden Cup —- Revelation 17:4
    .

    “……….Thus then the cup bearing goddess was at once Venus, the goddess of licentiousness, and Nemesis, the stern and unmerciful one to all who rebelled against her authority.
    .

    How remarkable a woman, whom John saw [Rev.] described in one aspect as the “Mother of harlots” and in another as “Drunken with the blood of the saints!”
    .
    https://www.biblegateway.com/passage/?search=Jeremiah+50-51%2CRevelation+17-19&version=NKJV

    • Kevin Moore says:

      Pentagon Stunned As Thousands Of Chinese Troops Enter ISIS War
      .
      The Kremlin have announced that China are to send 5,000 of its most elite military forces into the Levant War Zone to help Russia in the fight against ISIS, which has left the Obama administration and the Pentagon “horrified”.
      .
      The “Siberian Tiger” Special Forces and “Night Tiger” Special Forces Units were given authorization to be deployed by China’s People’s Congress (NPC) on Sunday, after China passed its first anti-terrorism lawallowing their army to take part in anti-terror missions abroad.
      .
      Whatdoesitmean.com reports:
      .
      Read on –
      .
      https://friendsofsyria.wordpress.com/2016/05/28/pentagon-stunned-as-thousands-of-chinese-troops-enter-isis-war-2/

      • Kevin Moore says:

        Jeremiah 50:21

        pekod in Jewish Gematria Equals: 129
        pekod in English Gematria Equals: 306
        pekod in Simple Gematria Equals: 51

        America in Jewish Gematria Equals: 129
        America in English Gematria Equals: 300
        America in Simple Gematria Equals: 50

  3. Kevin Moore says:

    A New Digital Cash System Was Just Unveiled At A Secret Meeting For Bankers In New York
    .
    Last month, a “secret meeting” that involved more than 100 executives from some of the biggest financial institutions in the United States was held in New York City. During this “secret meeting“, a company known as “Chain” unveiled a technology that transforms U.S. dollars into “pure digital assets”. Reportedly, there were representatives from Nasdaq, Citigroup, Visa, Fidelity, Fiserv and Pfizer …
    .
    Read more.
    .
    http://www.thesleuthjournal.com/new-digital-cash-system-just-unveiled-secret-meeting-bankers-new-york/

  4. Kevin Moore says:

    “And the second beast required all people small and great, rich and poor, free and slave, to receive a mark on their right hand or on their forehead, so that no one could buy or sell unless he had the mark — the name of the beast or the number of its name. Here is a call for wisdom: Let the one who has insight calculate the number of the beast, for it is the number of a man, and that number is six hundred sixty-six” ~ (Apocalypse 13:16-18)
    .
    https://syrianfreepress.wordpress.com/2016/05/10/new-world-disorder/

  5. Interesting, I graduated a few years ago and with living costs coupled with crappy wages I have hardly made a debt in my loan. I can’t believe no teachers or even my parents tried to give me prior warning. It has a powerful psychological effect on me, as I find myself worrying about it rather than just living.
    Have seen some people claiming they can discharge it via a letter but wonder how that works…and if it did surely everyone would do it! My loan is with Student Loans Company UK

  6. Kevin Moore says:

    “…….As E. Michael Jones points out in his meticulous study Barren Metal:
    .
    “By the time Milton Friedman died in November 2006, the richest 2 percent of the world owned more than half of global household wealth, and the CEO who made 43 times what the average worker made in 1980 earned 411 times as much in 2005.”[15]
    .
    They earned that much money by cheating the 98 percent out of their labor and through usury, which precipitated the economic collapse in the first place.
    .
    “The ultimate cause of the 2008 crisis was ‘the widespread abandonment of usury doctrine by American law,’ especially in the period following the monetary deregulation act of 1980. The result of that abandonment was the proliferation of the ‘unjust loan transactions’ which constitute ‘the root of the problem.’”[16]………”
    .
    http://www.veteranstoday.com/2016/06/03/bill-kristol-is-unintentionally-destroying-the-new-world-order/

  7. Kevin Moore says:

    A Crisis Worse than ISIS? Bail-Ins Begin
    .
    While the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US. Poverty also kills.
    .
    At the end of November, an Italian pensioner hanged himself after his entire €100,000 savings were confiscated in a bank “rescue” scheme. He left a suicide note blaming the bank, where he had been a customer for 50 years and had invested in bank-issued bonds. But he might better have blamed the EU and the G20’s Financial Stability Board, which have imposed an “Orderly Resolution” regime that keeps insolvent banks afloat by confiscating the savings of investors and depositors. Some 130,000 shareholders and junior bond holders suffered losses in the “rescue.”
    .
    Read on –
    .
    http://wakeupfromyourslumber.com/a-crisis-worse-than-isis-bail-ins-begin/
    .
    Australia Plans Cyprus-Style “Bail-In” Of Banks In 2013-14 Budget
    .
    https://barnabyisright.com/tag/bail-in/
    .

  8. Kevin Moore says:

    1666 Redemption Through Sin
    .
    Global Conspiracy in History, Religion, Politics and Finance
    .
    Authored by Robert Sepehr
    Edition: 1
    .
    Most people have heard of Jesus Christ, considered the Messiah by Christians, and who lived 2000 years ago. But very few have ever heard of Sabbatai Zevi, who declared himself the Messiah in 1666. By proclaiming redemption was available through acts of sin, he amassed a following of over one million passionate believers, about half the world’s Jewish population during the 17th century.
    .
    Although many Rabbis at the time considered him a heretic, his fame extended far and wide. Sabbatai’s adherents planned to abolish many ritualistic observances, because, according to the Talmud, holy obligations would no longer apply in the Messianic time. Fasting days became days of feasting and rejoicing. Sabbateans encouraged and practiced sexual promiscuity, adultery, incest and religious orgies.
    .
    After Sabbati Zevi’s death in 1676, his Kabbalist successor, Jacob Frank, expanded upon and continued his occult philosophy. Frankism, a religious movement of the 18th and 19th centuries, centered on his leadership, and his claim to be the reincarnation of the Messiah Sabbatai Zevi. He, like Zevi, would perform “strange acts” that violated traditional religious taboos, such as eating fats forbidden by Jewish dietary laws, ritual sacrifice, and promoting orgies and sexual immorality. He often slept with his followers, as well as his own daughter, while preaching a doctrine that the best way to imitate God was to cross every boundary, transgress every taboo, and mix the sacred with the profane. Hebrew University of Jerusalem Professor Gershom Scholem called Jacob Frank, “one of the most frightening phenomena in the whole of Jewish history”.
    .
    Jacob Frank would eventually enter into an alliance formed by Adam Weishaupt and Meyer Amshel Rothschild called the Order of the Illuminati. The objectives of this organization was to undermine the world’s religions and power structures, in an effort to usher in a utopian era of global communism, which they would covertly rule by their hidden hand: the New World Order.
    .
    Using secret societies, such as the Freemasons, their agenda has played itself out over the centuries, staying true to the script. The Illuminati handle opposition by a near total control of the world’s media, academic opinion leaders, politicians and financiers. Still considered nothing more than theory to many, more and more people wake up each day to the possibility that this is not just a theory, but a terrifying Satanic conspiracy.
    .
    https://www.createspace.com/5495472
    .
    .
    Secret History of Sabbatai Zevi Messiah of 1666
    .

  9. Kevin Moore says:

    “Government” is a religion. (Larken Rose)
    .
    This is an excerpt from Larken Rose’s new book, The Most Dangerous Superstition.
    .
    The Religion of “Government” (TMDS pp. 28-32.)
    .
    “Government” is neither a scientific concept nor a rational sociological construct; nor is it a logical, practical method of human organization and cooperation. The belief in “government” is not based on reason; it is based on faith. In truth, the belief in “government” is a religion, made up of a set of dogmatic teachings, irrational doctrines which fly in the face of both evidence and logic, and which are methodically memorized and repeated by the faithful. Like other religions, the gospel of “government” describes a superhuman, supernatural entity, above mere mortals, which issues commandments to the peasantry, for whom unquestioning obedience is a moral imperative. Disobedience to the commandments (“breaking the law”) is viewed as a sin, and the faithful delight in the punishment of the infidels and sinners (“criminals”), while at the same time taking great pride in their own loyalty and humble subservience to their god (as “law-abiding taxpayers”) And while the mortals may humbly beg their lord for favors, and for permission to do certain things, it is considered blasphemous and outrageous for one of the lowly peasants to imagine himself to be fit to decide which of the “government” god’s “laws” he should follow and which it is okay for him to ignore. Their mantra is, “You can work to try to change the law, but as long as it’s the law, we all have to follow it!”
    .
    The main factor distinguishing the belief in “government” from other religions today is that people actually believe in the god called “government.” The other gods people claim to believe in, and the churches they attend, are now, by comparison, little more than empty rituals and half-heartedly parroted superstitions. When it comes to their everyday lives, the god that people actually pray to, to save them from misfortune, to smite their enemies, and to shower them with blessings, is “government.” It is “government” whose commandments the people most often respect and obey. Whenever a conflict arises between “government” and the teachings of the lesser gods — such as “pay your fair share” (taxation) versus “Thou shalt not steal,” or “duty to country” (military service) versus “Thou shalt not murder” — the commands of “government supersede all the teachings of the other religions. Politicians, the high priests of the church of “government” — the mouthpieces and representatives of “government,” who deliver the sacred “law” from on high — even openly declare that it is permissible for the people to practice whatever religion they wish, as long as they do not run afoul of the supreme religion by disobeying “the law” — meaning the dictates of the god called “government.”……
    .
    http://deadlinelive.info/2011/02/28/government-is-a-religion-larken-rose/
    .
    .
    Matthew 6:24 Context
    21For where your treasure is, there will your heart be also. 22The light of the body is the eye: if therefore thine eye be single, thy whole body shall be full of light. 23But if thine eye be evil, thy whole body shall be full of darkness. If therefore the light that is in thee be darkness, how great is that darkness! 24No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon. 25Therefore I say unto you, Take no thought for your life, what ye shall eat, or what ye shall drink; nor yet for your body, what ye shall put on. Is not the life more than meat, and the body than raiment? 26Behold the fowls of the air: for they sow not, neither do they reap, nor gather into barns; yet your heavenly Father feedeth them. Are ye not much better than they? 27Which of you by taking thought can add one cubit unto his stature?

  10. Kevin Moore says:

    Registering to vote means that legally you are a franchisee of government.
    .
    “Franchise” means a privilege or right granted by government, which means that those elected are not as you imagine your servants but instead that you are subject to governments decrees –
    .
    “..In Australia today, citizens over the age of 18 can vote. Over the years, many people and groups in Australian society have campaigned to ensure that the franchise is enjoyed by all adult citizens.
    .
    On several occasions, Australia has been at the forefront internationally of efforts to extend the franchise. This was the case with the push for women’s suffrage in the late 1800s, and the lowering of the voting age from 21 to 18 in the 1970s……”
    .
    http://www.aec.gov.au/About_AEC/25/theme2-voting-any-way-you-can.htm

  11. Kevin Moore says:

    Great Mountain Publishing is proud to present Edward Hendrie’s new book:
    Solving the Mystery of Babylon the Great
    Tracking the Beast from the Synagogue to the Vatican

    Catholic Church Always Crypto Jewish

    “…………From the beginning, the Christian church was in a spiritual struggle against Judaism. Judaism could not win in a head-to-head spiritual contest against Christianity. It was necessary for the Jews to throw their efforts behind undermining the Christian church by injecting it with a Judaic contagion. Their long-term strategy was to change the Christian church from the inside-out, to align more closely with their Judaic/Babylonian theosophy.

    The Judaizing strategy resulted ultimately in the establishment of the Catholic Church. There is historical evidence for the common Babylonian lineage between Judaism and Roman Catholicism.

    After the fall of Jerusalem, Cabalistic Jews migrated to Alexandria where they synthesized their Chaldean witchcraft with Neo-Platonic philosophy and cloaked that religion in Christian terminology.

    They then tried to introduce this new heathen gnostic philosophy into the fledgling Christian Church. The penetration of the true spiritual church of Christ was futile. What this Jewish gnosticism did accomplish was the creation of a new ersatz “Christian” church, which grew into what we know today as the Roman Catholic Church. Those facts have been concealed from the historical accounts of the Catholic Church.

    JUDEO BABYLONIAN INFLUENCE

    We can see the Judeo/Babylonian influence in the organization of the Roman Catholic Church. The Vatican College of Cardinals is the Roman Catholic version of the Jewish Sanhedrin. The College of Cardinals, like the Sanhedrin, has traditionally had 71 members. However, that number has been expanded in modern times. The members of the College of Cardinals are called Cardinals for a reason. Cardinal means chief, principal, preeminent, or fundamental. The Catholic Cardinals fill the office of the Jewish “Chief” Priests who, along with the scribes and elders, were members of the Sanhedrin.

    The Sanhedrin selected the High Priest who was the head of the Sanhedrin, just as the Cardinals select a Pope who is the head of the College of Cardinals. The seventy-first member of the Sahehdrin is the High Priest. The Catholic corollary to the High Priest is the Pope, who as head has traditionally been the seventy-first member of the College of Cardinals.

    Another example of the Talmudic influence over the Roman Catholic Church is the worship of Mary. The Mary of the Catholic Church is not the Mary of the bible. She is in fact the Jews’ queen of heaven. Athol Bloomer reveals that Mary is equivalent to the Sabbath Queen in Judaism. The Kabbalah also has a warrior queen called Matronita who commands the hosts of heaven on behalf of Israel against its enemies.

    Bloomer states that “Matronita is an image of both Mother Church and the Mother of God.” Bloomer equates Matronita with Shekinah and Mary. Daniel Matt in his book Zohar, The Book of Enlightenment reveals that the Sabbath Queen and Shekinah are one and the same. ………..”
    http://www.henrymakow.com/catholic-church-always-crypto-jewish.html

  12. Kevin Moore says:

    Topical Bible: Trafficker – Bible Hub
    .
    biblehub.com/topical/t/trafficker.htm
    .
    TRAFFIC, TRAFFICKER. traf’-ik, traf’-ik-er (kena`-an, micchar, cachar, rekhullah): (1) Kena`an = “Canaan,” and, as the Canaanites were celebrated merchants, …
    .
    .
    Hosea 12:7 Commentaries: A merchant, in whose hands are …
    .
    biblehub.com/commentaries/hosea/12-7.htm
    .
    He is a merchant, the balances of deceit are in his hand: he loves to oppress. Jump to: Barnes … Bishop Horsley renders this verse thus: Canaan the trafficker!
    .
    .
    Revelation 13:17-18 “……….even that no one could buy or sell, except those having the mark of the brutish man or the number of the name of himself. Here is wisdom: let him having understanding count the number of the brutish man for it is the number belonging to a man — and the number of himself is six hundred and sixty six.”[Moultons Greek dictionary translation]
    .
    Barnabus chapter 9 “………wherefore it is not the command of God that they should not eat these things; but Moses in the Spirit spake unto them, …….neither says he, shalt thou eat the eagle, nor the hawk, nor the kite, nor the crow; that is thou shalt not keep company with such kind of men as know not how by their labour and sweat to get themselves food; but injuriously ravish away the things of others; and watch how to lay snares for them; when at the same time they appear to live in perfect innocence………so these birds alone seek not food for themselves, but sitting idle seek how they may eat of the flesh others have provided; being destructive through their wickedness……..”

    “The priests of Nimrod the founder of Babylon wore black robes.”

    .
    Canaan the son of Ham – took by force Shems’ inheritance, [Shem, from whom came the term Semite ] that being the land called Palestine today. Judah married a Canaanite woman and thus except for one pure line beginning with the Tamar/Judah union from whom Christ came, Judah became mixed and degenerate by following Nimrods’ [the grandson of Ham] Babylonian pagan idolatry or Baal worship. The priests of Nimrod the founder of Babylon wore black robes.
    .
    The Chemarims or Khamarim are the black -robed priests of Baal , who were appointed by the kings of Judah to conduct worship In high places . Chemarims ” Idolatrous Priest ” , comes from The root word Kamar meaning ” to be black ” , which explains the ” idolatrous priest ” wore black garments ( Zephaniah 1 ; 4 ) , which the judges, priests, rabbis and Cohen’s wear today ..

    .
    The Black Hats –
    .
    https://radioislam.org/jewish-photos/manipulat-the-wold/world-leaders-manipulated.htm
    .

  13. Kevin Moore says:

    Re Jeremiah 50 & 51 –

    “…..New NWO. More data points. The presidents of Russia, Azerbaijan and Iran met; then Putin met with the President of Armenia (obviously working on the Karabakh problem.) Then we learn that Moscow plans to make the Hmeymim air base in Syria permanent. Then it turns out Russia is using a base in Iran to bomb Syria (permission to cross Iraq too). (Interesting historical bit). Then a Chinese military delegation visits Syria and talks of cooperation (Chinese report). A lot of data points for two weeks, eh?…….”
    .
    http://russia-insider.com/en/politics/russian-federation-sitrep-18-august-2016/ri16067

  14. Kevin Moore says:

    Update –
    .
    Jer.51 42 “The sea has come up over Babylon; she is covered with the multitude of its waves.” [In the Wizard of Oz the wicked witch of the west is “liquidated” by Dorothy throwing a bucket of water over her.]
    .
    “The possibility of a tsunami on our coast is not even considered, since Brazil is driven into the middle of the South American plate, far from any border it has with other tectonic regions. But there is a catastrophe, much, more destructive VERY than our floods and landslides, whose probability of happening is very real and of which we have knowledge, which is solemnly ignored by everyone – including the media and the government itself there: Cumbre Vieja.
    .
    The possibility of a tsunami on our coast is not even considered, since Brazil is driven into the middle of the South American plate, far from any border it has with other tectonic regions. But there is a catastrophe, much, more destructive VERY than our floods and landslides, whose probability of happening is very real and of which we have knowledge, which is solemnly ignored by everyone – including the media and the government itself there: Cumbre Vieja…………….
    .
    Read on –
    .
    http://outrasverdadesinconvenientes.blogspot.com.au/2012/02/ameaca-de-cumbre-vieja.html
    .
    .
    Fears of Teide volcano eruption after ‘abnormal’ earthquake swarm hits Tenerife
    .
    Katie Mansfield
    Daily Express (UK)
    Mon, 03 Oct 2016 17:52 UTC
    .
    FEARS are mounting that a huge volcano on the island of Tenerife could erupt after nearly 100 mini earthquakes were reported in FOUR HOURS in the region
    .
    The Volcanology Institute of the Canary Islands (Involcan) reported a significant spike in seismic activity on Sunday afternoon.
    .
    Some 92 microquakes were recorded in Adeje and Vilaflor in the space of four hours, with one measuring more than 1.5 on the Richter scale.
    .
    The majority of the quakes took place between 7 and 13km below ground sparking fears Mount Teide could be about to blow.
    .
    Involcan has sent teams to the area to measure the amount of carbon dioxide in the atmosphere following the quakes, which they described as a “seismic swarm” which is “abnormal” for the region.
    .
    An increase in carbon dioxide is said to be an early indicator of volcanic earthquake activity that can precede an eruption.
    .
    Involcan said in a statement: “We are registering an important seismic rally on the island of Tenerife.
    .
    “In principle, these earthquakes are very low magnitude, consistent with those that occur in active volcanoes.
    .
    “The number of earthquakes is provisional pending the analysis of the signals more closely, but we can qualify this activity as a seismic swarm whose pattern is an alignment with prevailing direction northeast to southwest “.
    .
    But Involcan director Nemesio Perez told local media there is no reason for alarm as his teams continue to monitor the site.
    .
    Mount Teide last erupted in 1909 and the last reported increase in seismic activity dates back to 2003 when a rift opened on the north-east of the volcano.
    .
    The volcano, although dormant, is considered structurally unstable.
    .
    Fearing an eruption, worried residents flooded Involcan with their concerns.
    .
    Pacqui Perez said: “Well, I hope that it does not happen again…. and that the Teide is snoring peacefully.”
    .
    Lucrecia Mesa González said: “And I wonder from my ignorance, are there any evacuation plan if necessary? We live on top of a volcano and we don’t inform people about what we should do if it is the case of an eruption. Should inform us more about this topic.”
    .
    Data from the National Geographic Insititute suggests the quakes are not associated with any volcanic activity on the island.
    .
    The surge of activity comes days after Pedro Hernandez, an Involcan researcher, warned the Canary Islands could experience a volcanic eruption every 40 years.
    .
    He warned the local population must be educated about volcanoes.
    .
    The 12,000 ft Mount Teide is the highest peak in Spain and was declared a national park in 1954.
    .
    Each year up to three million tourists visit the peak and its 80m wide crater.
    .
    Visitors hike and take cable cars to the summit of the volcano which is classed as a World Heritage Site.
    .
    https://www.sott.net/article/330058-Fears-of-Teide-volcano-eruption-after-abnormal-earthquake-swarm-hits-Tenerife

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s