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Topic: Mortgages cannot legally be foreclosed! (Read 1934 times) |
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Blunderov
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"We think in generalities, we live in details"
  
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Mortgages cannot legally be foreclosed!
« on: 2009-04-27 06:56:19 » |
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[Blunderov] Now here is a can of worms. A court case which laid bare the mechanism by which modern capitalism is corrupted beyond redemption. (In short, you cannot loan somebody imaginary money unless you only require an imaginary repayment.) And some apparently very dirty work at the crossroads.
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Mortgage foreclosure precedence set in 1969 case of the "First National Bank of Montgomery V. Jerome Daly" by instrument of "Consideration." "And upon this revelation the court rejected the bank's claim for foreclosure and Daly kept his home"
Wed Feb 25, 2009 11:04 AM
"Consideration" is the legal term to describe real ,legitimate property that is supposed to be put up as collateral by "both" parties in a Mortgage contract.
"In legal language this is called consideration (a contracts basis. a contract is founded on an exchange of one form of consideration for another."
The information concerning this case is very relevant to the here and now predicament our Nation and it's people find themselves in again ,over and over , due to the same fraudulent scheme being played out for the last few decades by certain men in control of a corrupt and unconstitutional financial institution(The Fed) and the web of conglomerates and associations that are hand in hand controlled by an agenda of men hostile to the human race.Mr.Daly disempowered them for a time, though at a price.
Mr.Daly argued that the Mortgage contact required that both parties place up collateral/real consideration for this agreement of finance .
Simply,the bank had not fullfilled/maintained/upheld it's part of the requirement for real consideration and the Mortgage contract in whole, for the reason that the "money" was not the "real" property of the Bank ,as it was created "out of nothing" as soon as the loan agreement was signed, by ledger entry.
"Mr Daly explained that the money was in fact not the property of the bank, for it was created out of nothing as soon as the loan agreement was signed. Remember what Modern Money Mechanics stated about loans? What they do, when they make loans is to accept promissory notes in exchange for credits. Reserves are unchanged by the loan transactions, but deposit credits constitute new additions to the total deposits of the banking system. In other words: The money doesn't come out of their existing assets, the bank is simply inventing it, putting up nothing of it's own, except for a theoretical liability on paper."
The Banks president ,Mr. Morgan, took the stand and affirmed that ,in collusion with, the Federal Reserve Bank Inc., did create the money out of nothing.
Justice Martin V Mahoney personal memorandum ...."in the judge's personal memorandum he recalled that "the Plaintiff (banks president) admitted that in combination with the Federal Reserve Bank did create the money and credits upon its books by bookkeeping entry. The money and credit first came into existence when they created it. Mr Morgan admitted that no US Law or Statute existed which gave him the right to do this. A lawful consideration must exist and be tendered to support the Note. The Jury found that there was no lawful consideration and I agree." He also poetically added: "Only God can create something of value out of nothing."
And upon this revelation the court rejected the bank's claim for foreclosure and Daly kept his home."
Though the happy story does not start/end there..."the 1968 Minnesota Trial Court's decision holding the Federal Reserve Act unconstitutional and void and holding the National Banking Act unconstitutional and void was never appealed or vacated."
Justice Martin V Mahoney paid a price for doing the right thing. He knew who Morgan was and the scheme to disenfranchise and to disempower our Nation of people. He did rule ignorantly or uninformedly. He knew the repercussions this ruling would have on the Banks. I'm sure he was contacted by those who would try to manipulate and influence him to rule in the Banks favor.
...ask why the 1968 Minnesota Trial Court's decision holding the Federal Reserve Act unconstitutional and void and holding the National Banking Act unconstitutional and void was never appealed or vacated?
The answer is even the legal manipulators and corrupted high court judges can't get around this decision, figuring it better to just let the case of the First National Bank of Montgomery V. Jerome Daly die in the cold Minnesota snow along with Justice Martin V. Mahoney who was found suspiciously poisoned to death six months after he issued the ruling that exposed the illegality of what has been called the Queen of England's illegal banking scam.
This precedence has been paid with courage and blood. Honor it. Act now.
References;
http://www.wanderingsandmusings.com/2008/10/zeitgeist-addendum-transcript/
http://www.scribd.com/doc/2367947/Illuminati-Cash-Slush-Fund-Estimated-at-65-Trillion-Dollars
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Hermit
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Re:Mortgages cannot legally be foreclosed!
« Reply #1 on: 2009-04-27 11:04:39 » |
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[Hermit] Ummm? No. (It was the "Justice of the Peace" appellation that triggered my suspicions.)
Minnesota State Law Library
Briefly...News From Your State Law Library - November 2007
Just the FAQ's
Although our reference staff fields an amazing variety of questions daily, family law and court procedures are the top two subject areas for frequently asked questions. Brief answers to our most popular question are posted online in our FAQ file, available to all.
The latest addition to our FAQ file is an old question but one of current interest because of economic news in recent months. This frequently asked question concerns a justice of the peace case related to mortgage foreclosure. First National Bank of Montgomery vs. Jerome Daly, sometimes called the Credit River case, is a decision often cited by those who practice "law on the edge".
In the late 1960s, attorney Jerome Daly was a defendant in an unlawful detainer action in the justice of the peace court in Credit River Township in Scott County, Minnesota. The First National Bank of Montgomery foreclosed on Daly's property and sought possession. The jury and the justice of the peace decided against the bank, agreeing with Daly's argument that the bank had not actually lent him any money, but had simply created credit on its books. Daly argued that since nothing of value had been advanced by the bank, it was not entitled to the property that secured the loan. The justice of the peace, Martin V. Mahoney, entered his decision in defiance of the Minnesota Supreme Court. For conspiracy theorists, we note he died "mysteriously" within 6 months of his decision. Ultimately, the decision of the justice of the peace court was nullified and Daly was subsequently disbarred.
This case made its way onto the Internet, where groups who oppose federal banking laws assert that the case invalidated the Federal Reserve and voided Federal Reserve notes. Even though it has no value as precedent, litigants continue to cite to the case, even as recently as 2007. See Sneed v. Chase Home Fin. LLC, 2007 U.S. Dist. LEXIS 46536, 2007 WL 1851674 (S.D. Cal. June 26, 2007).
In cooperation with Scott County Court Administration, the scanned documents from this case are available on our website. For more detailed information on the case, see our FAQ.
Back issues of Briefly are posted on the Law Library web site at http://www.lawlibrary.state.mn.us/newsletter/index.html.
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