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Banks “ACCEPT” Loans As “DEPOSITS” Of Money

Banks “ACCEPT” Loans As “DEPOSITS” Of Money

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Published by in1or
"Show Me The Money"
People are mislead as to what money is and where the money comes from to fund a bank loan check. Most people incorrectly think that money is only cash and that other depositors funded the bank loan check. Everyone agrees the borrower should repay the lender. We all agree we should repay the one who funded the loan. The problem is that most people are mislead as to who funded the loan.
In America, money is more than just cash. Money is anything that has value and can be sold for cash and is accepted as money. If you use gold to buy a car, the gold is used as money. If you have $10,000 of government bonds that can be sold for $10,000 of cash and you use the bonds to buy a $10,000 car, you used the bonds as money.
Banks routinely accept bonds as money and deposit the bonds into checking accounts. If the bank accepted $5,000 of bonds from you, deposited the bonds into your checking account, and loaned the $5,000 to a borrower, the borrower should repay the bank, and the bank should return the $5,000 to you. A bond is a fancy name for a promissory note (a promise to pay).
If you ask for a $10,000 bank loan, the banker has you sign a $10,000 promissory note. Did you ever give consent to (authorize) the bank to sell your promissory note to investors for $10,000. (When most people want to sell their homes they locate a real estate agent. The homeowner signs an agreement with the real estate agent giving the real estate agent consent to sell the home. Once the home is sold the homeowner receives the amount the home sold for, the real estate agent receives a commission (percentage of the amount the home sold for). The real estate agent is not entitled to keep the full amount of what the home sold for.) The investors want the interest. If you do not pay the interest, the bank forecloses and collects the money? Both the bond and the note can be sold for cash giving them equal value to cash. Actually the bank has no "STANDING!" No "STANDING" to sue, foreclose, or claim your deposit as theirs. When the bank "accepts" your loan (deposit) they must now act in "good faith" as "trustee" with a "fiduciary duty" for your benefit "ONLY!"
According to Federal Reserve Bank publications, the promissory note that you signed is money.
When banks deposit the borrower's promissory note into a checking account, the bank accepted the promissory note as money. If you deposit money at the bank, it is like loaning the bank the money. If you deposit it or loan the bank the money, you can get the money back.
If you travel to Brazil, you will go to a moneychanger to exchange equal value of American money for Brazilian money. If you exchange $100 of coins for $100 of cash, you traded value for value. An exchange is not a loan.
If you deposit $100 of cash and withdraw a $100 check, that is a return of your original loan (deposit).
If you loan (deposit) $100 of cash to the bank the bank has to return the $100 on your demand. The bank makes two entries onto their ledger with each and every deposit they receive, double entry bookkeeping. The first entry is the asset side of the ledger for $100, the second entry is the liability side of the ledger for $100. With every new deposit the assets of the bank increase. With every withdrawal those same assets of the bank decrease. If you loan the bank a $1,000 bond or promissory note that can be sold for $1,000 cash and this loan funds the bank loan check back to you, the bank has to return your original loan (deposit)
RETURN defined: To bring, carry, or send back; to place in the custody of; to restore; to re-deliver. "Return" means that something which has had a prior existence will be brought or sent back. Sims v. Western Steel Co., C.A. Utah, 551 F.2d 811, 820. Black’s Law Dictionary Sixth Edition (page 1318)
"Show Me The Money"
People are mislead as to what money is and where the money comes from to fund a bank loan check. Most people incorrectly think that money is only cash and that other depositors funded the bank loan check. Everyone agrees the borrower should repay the lender. We all agree we should repay the one who funded the loan. The problem is that most people are mislead as to who funded the loan.
In America, money is more than just cash. Money is anything that has value and can be sold for cash and is accepted as money. If you use gold to buy a car, the gold is used as money. If you have $10,000 of government bonds that can be sold for $10,000 of cash and you use the bonds to buy a $10,000 car, you used the bonds as money.
Banks routinely accept bonds as money and deposit the bonds into checking accounts. If the bank accepted $5,000 of bonds from you, deposited the bonds into your checking account, and loaned the $5,000 to a borrower, the borrower should repay the bank, and the bank should return the $5,000 to you. A bond is a fancy name for a promissory note (a promise to pay).
If you ask for a $10,000 bank loan, the banker has you sign a $10,000 promissory note. Did you ever give consent to (authorize) the bank to sell your promissory note to investors for $10,000. (When most people want to sell their homes they locate a real estate agent. The homeowner signs an agreement with the real estate agent giving the real estate agent consent to sell the home. Once the home is sold the homeowner receives the amount the home sold for, the real estate agent receives a commission (percentage of the amount the home sold for). The real estate agent is not entitled to keep the full amount of what the home sold for.) The investors want the interest. If you do not pay the interest, the bank forecloses and collects the money? Both the bond and the note can be sold for cash giving them equal value to cash. Actually the bank has no "STANDING!" No "STANDING" to sue, foreclose, or claim your deposit as theirs. When the bank "accepts" your loan (deposit) they must now act in "good faith" as "trustee" with a "fiduciary duty" for your benefit "ONLY!"
According to Federal Reserve Bank publications, the promissory note that you signed is money.
When banks deposit the borrower's promissory note into a checking account, the bank accepted the promissory note as money. If you deposit money at the bank, it is like loaning the bank the money. If you deposit it or loan the bank the money, you can get the money back.
If you travel to Brazil, you will go to a moneychanger to exchange equal value of American money for Brazilian money. If you exchange $100 of coins for $100 of cash, you traded value for value. An exchange is not a loan.
If you deposit $100 of cash and withdraw a $100 check, that is a return of your original loan (deposit).
If you loan (deposit) $100 of cash to the bank the bank has to return the $100 on your demand. The bank makes two entries onto their ledger with each and every deposit they receive, double entry bookkeeping. The first entry is the asset side of the ledger for $100, the second entry is the liability side of the ledger for $100. With every new deposit the assets of the bank increase. With every withdrawal those same assets of the bank decrease. If you loan the bank a $1,000 bond or promissory note that can be sold for $1,000 cash and this loan funds the bank loan check back to you, the bank has to return your original loan (deposit)
RETURN defined: To bring, carry, or send back; to place in the custody of; to restore; to re-deliver. "Return" means that something which has had a prior existence will be brought or sent back. Sims v. Western Steel Co., C.A. Utah, 551 F.2d 811, 820. Black’s Law Dictionary Sixth Edition (page 1318)

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Banks “ACCEPT” Loans As “DEPOSITS” Of MoneyThe “ONLY” thing banks loan to any transaction is their “NAME” EXECUTED NOTE defined: Promissory note, which has been signed and delivered. Black’s Law Dictionary Sixth Edition (page 567)Your consideration, the promissory note (money) signed and delivered (executed) at closing. Making you “bona fide purchaser for value.”Executio est finis et fructus legis defined: Execution is the end and fruit of the law. Black’s Law Dictionary Sixth Edition (page 568)PURCHASER FOR VALUE defined: One who pays consideration for property or goods bought. Black's Law Dictionary Sixth Edition (page 1236)PURCHASER OF A NOTE OR BILL defined: The person who buys a promissory note or bill of exchange from the holder without his indorsement. Black's Law Dictionary Sixth Edition (page 1236)ORDER defined: contracts. An indorsement or short writing put upon the back of a negotiable bill or note, for the purpose of passing the title to it, and making it payable to another person. 2. When a bill or note is payable to order, which is generally expressed by this formula, "to A B, or order, "or" to the order of A B," in this case the payee, A B may either receive the money secured by such instrument, or by his order, which is generally done by a simple indorsement, (q.v.) pass the right to receive it to another. But a bill or note wanting these words, although not negotiable, does not lose the general qualities of such instruments. 6 T. R. 123; 6 Taunt. 328; Russ. & Ry. C. C. 300; 3 Caines, 137; 9 John. 217. Vide Bill of Exchange; Indorsement. 3. An informal bill of exchange or a paper which requires one person to pay or deliver to another goods on account of the maker to a third party, is called an order.Banks “ONLY” return a deposit (loan) you have previously made.Which would give rise to the true purpose of a bank as a “depositary”Derativa potestas non potest esse major primitiva. The power which is derived cannot be greater than that from which it is derived.Jus ad rem; jus in re defined: A right to a thing; a right in a thing.Affirmati, non neganti incumbit probation defined: The proof lies upon him who affirms, not on him who denies. Currit tempus contra desides et sui juris contemptores defined: Time runs against the slothful and those who neglect their rights. Cujus per errorem dati repetitio est, ejus consulto dati donatio est defined: Whoever pays by mistake what he does not owe, may recover it back; but he who pays, knowing he owes nothing; is presumed to give.—BANK NOTE defined: A promissory note issued by a bank or banker authorized to do so, payable to bearer on demand, and intended to circulate as money. Townsend v. People, 4 Ill. 328; Low v. People, 2 Park.Cr.R. (N.Y.) 37. See, also, Banker's note. In the early history of banks, their notes were generally denominated bills of credit. Briscoe
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v. Bank of the Commonwealth of Kentucky, 11 Pet. 257, 9 L.Ed. 709. Black’s Law Dictionary Revised Fourth Edition (page 184)BANKABLE PAPER defined: In mercantile law. Notes, checks, bank bills, drafts, and other securities for money, received as cash by the banks. The term does not necessarily mean discountable paper, but paper of such high credit that, if the time of payment was reasonable and the banks had loanable funds, they would ordinarily discount it. Edward P. Allis Co. v. Madison Electric Light, Heat & Power Co., 9 S.D. 459, 70 N.W. 650, 652. National bank notes are received as bankable money without regard to the locality of the bank issuing them. U.S.Rev.Stat. § 5133 (12 USCA § 21); Veazie Bank v. Fen- no, 8 Wall. 533, 19 L.Ed. 482. Black’s Law Dictionary Revised Fourth Edition (page 185)ORIGINAL defined: contracts, practice, evidence. An authentic instrument of something, and which is to serve as a model or example to be copied or imitated. It also means first, or not deriving any authority from any other source as, original jurisdiction, original writ, original bill, and the like. 2. Originals are single or duplicate. Single, when there is but one; duplicate, when there are two. In the case of printed documents, all the impressions are originals, or in the nature of duplicate originals, and any copy will be primary evidence. Watson's Case, 2 Stark. R. 130; sed vide 14 Serg.& Rawle, 200; 2 Bouv. Inst. n. 2001. 3. When an original document is not evidence at common law, and a copy of such original is made evidence by an act of the legislature, the original is not, therefore, made admissible evidence by implication. 2 Camp. R. 121,
A Law Dictionary Adapted To The Constitution And Laws Of The United States Of America And Of The Several States Of The American Union by: John Bouvier Revised Sixth Edition, 1856
 ORIGINAL ENTRY. The first entry made by a merchant, tradesman, or other person in his account books, charging another with merchandise, materials, work, or labor, or cash, on a contract made between them. 2. This subject will be divided into three sections. 1. The form of the original entry. 2. The proof of such entry. 3. The effect. 3.-Sec. 1. To make a valid original entry it must possess the following requisites, namely: 1. It must be made in a proper book. 2. It must be made in proper time. 3. It must be intelligible and according to law. 4. It must be made by a person having authority to make it. 4.-1. In general the books in which the first entries are made, belonging to a merchant, tradesman, or mechanic, in which are charged goods sold and delivered, or work and labor done, are received in evidence. There are many books, which are not evidence, a few of which will he here enumerated. A book made up by transcribing entries made on a slate by a journeyman, the transcript being made on the same evening, or sometimes not until nearly two weeks after the work was done, was considered as not being a book of original entries. 1 Rawle, R. 435; 2 Watts, R. 451; 4 Watts, R. 258; 1 Browne's R. 147; 6 Whart. R. 189; 5 Watts, 432; 4 Rawle, 408; 2 Miles, 268. A book purporting to be a book of original entries, containing an entry of the sale of goods when they were ordered but before they were delivered, is not a book of original entries. 4 Rawle, 404. And unconnected scraps of paper, containing, as alleged, original entries of sales by an agent, on account of his principal, and appearing on their face to be irregularly kept, are not to be considered as a book of original entries. 13 S. & R. 126. See 2 Whart. R. 33; 4 McCord, R. 76; 20 Wend. 72; 2 Miles, R. 268; 1 Yeates, R. 198; 4 Yeates, R. 341. 5.-2. The entry must be made in the course of
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business, and with the intention of making a charge for goods sold or work done; they ought not to be made after the lapse of one day. 8 Watts, 545; 1 Nott, & McCord, 130; 4 Nott & McCord, 77; 4 S. & R. 5; 2 Dall. 217; 9 S. & R. 285. A book in which the charges are made when the goods are ordered is not admissible. 4 Rawle, 404; 3 Dev. 449. 6.-3. The entry must be made in an intelligible manner, and not in figures or hieroglyphics which are understood by the seller only. 4 Rawle, 404. A charge made in the gross as "190 days work," 1 Nott & McCord, 130, or "for medicine and attendance," or "thirteen dollars for medicine and attendance on one of the general's daughters in curing the whooping cough," 2 Const. Rep. 476, were rejected. An entry of goods without carrying out any prices proves, at most, only a sale, and the jury cannot, without other evidence, fix any price. 1 South. 370. The charges should be specific and denote the particular work or service charged, as it arises daily, and the quantity, number, weight, or other distinct designation of the materials, or articles sold or furnished, and attach the price and value to each item. 2 Const. Rep. 745; 2 Bail. R. 449; 1 Nott & McCord, 130. 7.-4. The entry must of course have been made by a person having authority to make it, 4 Rawle, 404, and with a view to charge the party. 8 Watts, 545. 8.-Sec. 2. The proof of the entry must be made by the person who made it. If made by the seller, he is competent to prove it from the necessity of the case, although he has an interest in the matter in dispute. 5 Conn. 496; 12 John. R. 461; 1 Dall. 239. When made, by a clerk, it must be proved by him. But, in either case, when the person who made the entry is out of the reach of the process of the court, as in the case of death, or absence out of the state, the handwriting may be proved by a person acquainted with the handwriting of the person who made the entry. 2 Watts & Serg. 137. But the plaintiff is not competent to prove the handwriting of a deceased clerk who made the entries. 1 Browne's R. App. liii. 9.- Sec. 3. The books and original entries, when proved by the supplementary oath of the party, is prima facie evidence of the sale and delivery of goods, or of work and labor done. 1 Yeates, 347; Swift's Ev. 84; 3 Vern. 463; 1 McCord, 481; 1 Aik. 355; 2 Root, 59; Cooke's R. 38. But they are not evidence of money lent, or cash paid. Id.; 1 Day, 104; 1 Aik. 73, 74; Kirby, 289. Nor of the time a vessel laid at the plaintiff's wharf; 1 Browne's Rep. 257; nor of the delivery of goods to be sold on commission. 2 Wharton, 33.
A Law Dictionary Adapted To The Constitution And Laws Of The United States Of America And Of The Several States Of The American Union by: John Bouvier Revised Sixth Edition, 1856
 MONEY HAD AND RECEIVED defined: An action of assumpsit will lie to recover money to which the plaintiff is entitled, and which in justice and equity, when no rule of policy or strict law prevents it, the defendant ought to refund to the plaintiff, and which he cannot with a good conscience retain, on a count for money had and received. 6 S. & R. 369; 10 S. & R. 219: 1 Dall. 148; 2 Dall. 154; 3 J. J. Marsh. 175; 1 Harr. 447; 1 Harr. & Gill. 258; 7 Mass. 288; 6 Wend. 290; 13 Wend. 488; Addis. on Contr. 230. 2. When the money has been received by the defendant in consequence of some tortious act to the plaintiff's property, as when he cut down the plaintiff's timber and sold it, the plaintiff may waive the tort and sue in assumpsit for money had and received. 1 Dall. 122; 1 Blackf. 181; 5 Pick. 285; 1 J. J. Marsh. 543: 4 Pick. 452; 12 Pick. 120; 4 Binn. 374; 3 Watts, 277; 4 Call, 451. 3. In general the action for money had and received lies only where money has been received by the defendant. 14 S. & R. 179; 1 Pick. 204; 7 S. & R. 246; 1 J. J. Marsh. 544; 3 J. J. Marsh. 6; 7 J. J. Marsh.
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