Hit Counter

 
 

.

 

★THE TRUTH WILL SET MANKIND FREE ★ Compare the ideals and values presented in the side panel of this page with the present day reality of the works of man! Moral - Ethical and Spiritual Freedom cannot exist without actually knowing GOD through the seven fold Spiritual endowments of the human soul and the faith son or daughter of GOD!

 

Financial Institutions Engaged in
ILLEGAL CREATION OF MONEY

CLASS ACTION SUIT

Hit Counter

“The issue which has swept down the centuries and which will have to be fought sooner or later is
The People vs. The Banks.”

- Lord Acton, Historian, 1834 - 1902 -
Media Release


Media Release

E-Mail Contact: John R. Dempsey

April 15, 2005

FOR IMMEDIATE RELEASE


New Westminster, B.C., April 15, 2005.


John Ruiz Dempsey BSCr, LL.B, a criminologist and forensic litigation specialist filed a class action suit on behalf of the People of Canada alleging that financial institutions are engaged in illegal creation of money.

The complaint filed Friday April 15, 2005 in the Supreme Court of British Columbia at New Westminster, alleges that all financial institutions who are in the business of lending money have engaged in a deliberate scheme to defraud the borrowers by lending non-existent money which are illegally created by the financial institutions out of “thin air.” Dempsey claims that creation of money out of nothing is ultra vires these defendents’ charter or granted corporate power and therefore void and all monies loaned under false pretence contravenes the Criminal Code. The suit which is the first of its kind ever filed in Canada which could involve millions of Canadians alleges that the contracts entered into between the People (“the borrowers”) and the financial institutions were void or voidable and have no force and effect due to anticipated breach and for non-disclosure of material facts. Dempsey says the transactions constitutes counterfeiting and money laundering in that the source of money, if money was indeed advanced by the defendents and deposited into the borrowers’ accounts, could not be traced, nor could not be explained or accounted for.


The suit names Envision Credit Union (“Envision”), a credit union; Laurentian Bank of Canada (“Laurentian Bank”), Royal Bank of Canada (“Royal Bank”), Canadian Imperial Bank of Commerce (“CIBC”), Bank of Montreal (“BOM”), TD Canada Trust (“Canada Trust”) and Canadian Payment Association (“CPA”) as civil conspirators. The plaintiff in the lawsuit is seeking recovery of money and property that was lost by way of confiscation through illegal “debt” collection and foreclosure. The Plaintiff is also seeking for the return of the equities which rightfully belongs to the People of Canada, now being held by the defendant financial institutions as constructive trustees without color of right.


At all material times, these defendant banks and all of them have no legal standing to lend any money to borrowers, because: 1) these banks and credit unions did not have the money to lend, and therefore they did not have any capacity to enter into a binding contract; 2) the defendants did not have any cash reserve, they are not legally permitted to lend their depositor’s or member’s money without expressed written authorization form the depositors, and: 3) the defendants have no tangible assets of their own to lend and all their “assets” are “paper assets” which are mainly in the form of “receivables” created by them out of “thin air,” derived out of loans whereas the monies loaned out were also created out of thin air. Other than bookkeeping and computer entries, no money or substance of any value was loaned by the defendants to the Plaintiff. In all of the loan transactions entered into between the Plaintiff and the Defendants, the financial institutions did not bring any equity to any of the transaction. All the equities were provided by the borrowers. The practices of the defendant financial institutions alleged in the complaint starkly contrast the practices of responsible and ethical money lenders who actually lend real, tangible, legal tender cash money. The complaint alleges that the loan transactions are fraudulent because no value was ever imparted by the defendants to the Plaintiff; these defendants did not risk anything, nor lost anything and never would have lost anything under any circumstances and therefore no lien has been perfected according to law and equity against the Plaintiff. The foreclosure proceedings which comes as a result of the borrower defaulting on such fraudulent loans were carried out in bad faith by the defendant banks and credit unions, and as such, these foreclosures were in every respect unlawful acts of conversion and unlawful seizure of property without due process of law which always results in the unjust enrichment of the defendants. The suit alleges that the defendants utilize fraudulent banking practices whereby they deceive customers into believing that they are actually receiving “credit” or money when in fact no actual money is being loaned to their customers. However, the complaint describes a practice whereby there is realistically no money other than ledger or computer entries being loaned to the borrowers. Rather than real money being received by the borrowers, “electronic” or “digitally created money”, created out of nothing, at no cost to the financial institutions are entered as “loans” into their customers’ accounts. The borrowers are then required to pay criminal interest rates for the money they never received. The suit alleges that the defendants effectively turn consumers into virtual debt slaves, forcing them to pay for something they never received, and then seizing their properties if they can no longer pay the banks with real money.


There is no law in Canada that could remotely suggest that the defendant financial institutions have the legal right to create money out of nothing. Dempsey says: “only God has the power to create anything out of nothing.” The class action suit, the first and the biggest of its kind in Canada is intended to give the justice system the opportunity to prove itself to the People of Canada who is really in control or whether they would continue to allow itself to be used by the banks as a tool in their unlawful and fraudulent banking practices which always ends in the enslavement of the people and confiscation of the people’s properties.

Two other class action suits were filed by John Ruiz Dempsey against the banks. The first one was filed by Dempsey on behalf of Ian Dennis Gravlin of Calgary, Alberta and Pavel Darmantchev of Kelowna, B.C. versus the Canadian Imperial Bank of Commerce. This matter is set for case management conference hearing on April 26, 2005. The Plaintiffs expects a stiff opposition from the defendant’s law firm. Madam Justice Garson is the case management judge assigned to the case.
A second class action suit was filed against MBNA CANADA BANK on behalf of Pavel Darmantchev of Kelowna, B.C., Ian Dennis Gravlin of Calgary, Alberta and Dena Alden of Vancouver, B.C.

 


 
No. S91786
New Westminster Registry
IN THE SUPREME COURT OF BRITISH COLUMBIA
BETWEEN:
JOHN RUIZ DEMPSEY
ON BEHALF OF THE PEOPLE OF CANADA
PLAINTIFF(S)
AND:
ENVISION CREDIT UNION
LAURENTIAN BANK OF CANADA
ROYAL BANK OF CANADA
CANADIAN IMPERIAL BANK OF COMMERCE
BANK OF MONTREAL
TD CANADA TRUST
CANADIAN PAYMENT ASSOCIATION
and others
DEFENDANT(S)
Brought Under The Class Proceedings Act
R.S.B.C. 1996 c. 50
STATEMENT OF CLAIM
THE PARTIES
 

 

 

.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A certain rich man, a Roman citizen and a Stoic, became greatly interested in Jesus' teaching, having been introduced by Angamon. After many intimate conferences this wealthy citizen asked Jesus what he would do with wealth if he had it, and Jesus answered him: "I would bestow material wealth for the enhancement of material life, even as I would minister knowledge, wisdom, and spiritual service for the enrichment of the intellectual life, the ennoblement of the social life, and the advancement of the spiritual life. I would administer material wealth as a wise and effective trustee of the resources of one generation for the benefit and ennoblement of the next and succeeding generations."

 

ut the rich man was not fully satisfied with Jesus' answer. He made bold to ask again: "But what do you think a man in my position should do with his wealth? Should I keep it, or should I give it away?" And when Jesus perceived that he really desired to know more of the truth about his loyalty to God and his duty to men, he further answered: "My good friend, I discern that you are a sincere seeker after wisdom and an honest lover of truth; therefore am I minded to lay before you my view of the solution of your problems having to do with the responsibilities of wealth. I do this because you have asked for my counsel, and in giving you this advice, I am not concerned with the wealth of any other rich man; I am offering advice only to you and for your personal guidance. If you honestly desire to regard your wealth as a trust, if you really wish to become a wise and efficient steward of your accumulated wealth, then would I counsel you to make the following analysis of the sources of your riches: Ask yourself, and do your best to find the honest answer, whence came this wealth? And as a help in the study of the sources of your great fortune, I would suggest that you bear in mind the following ten different methods of amassing material wealth:

"1. Inherited wealth--riches derived from parents and other ancestors.

"2. Discovered wealth--riches derived from the uncultivated resources of mother earth.

"3. Trade wealth--riches obtained as a fair profit in the exchange and barter of material goods.

"4. Unfair wealth--riches derived from the unfair exploitation or the enslavement of one's fellows.

"5. Interest wealth--income derived from the fair and just earning possibilities of invested capital.

"6. Genius wealth--riches accruing from the rewards of the creative and inventive endowments of the human mind.

"7. Accidental wealth--riches derived from the generosity of one's fellows or taking origin in the circumstances of life.

"8. Stolen wealth--riches secured by unfairness, dishonesty, theft, or fraud.

"9. Trust funds--wealth lodged in your hands by your fellows for some specific use, now or in the future.

"10. Earned wealth--riches derived directly from your own personal labor, the fair and just reward of your own daily efforts of mind and body.

 

And so, my friend, if you would be a faithful and just steward of your large fortune, before God and in service to men, you must approximately divide your wealth into these ten grand divisions, and then proceed to administer each portion in accordance with the wise and honest interpretation of the laws of justice, equity, fairness, and true efficiency; albeit, the God of heaven would not condemn you if sometimes you erred, in doubtful situations, on the side of merciful and unselfish regard for the distress of the suffering victims of the unfortunate circumstances of mortal life. When in honest doubt about the equity and justice of material situations, let your decisions favor those who are in need, favor those who suffer the misfortune of undeserved hardships."

 

After discussing these matters for several hours and in response to the rich man's request for further and more detailed instruction, Jesus went on to amplify his advice, in substance saying: "While I offer further suggestions concerning your attitude toward wealth, I would admonish you to receive my counsel as given only to you and for your personal guidance. I speak only for myself and to you as an inquiring friend. I adjure you not to become a dictator as to how other rich men shall regard their wealth. I would advise you:

"1. As steward of inherited wealth you should consider its sources. You are under moral obligation to represent the past generation in the honest transmittal of legitimate wealth to succeeding generations after subtracting a fair toll for the benefit of the present generation. But you are not obligated to perpetuate any dishonesty or injustice involved in the unfair accumulation of wealth by your ancestors. Any portion of your inherited wealth which turns out to have been derived through fraud or unfairness, you may disburse in accordance with your convictions of justice, generosity, and restitution. The remainder of your legitimate inherited wealth you may use in equity and transmit in security as the trustee of one generation for another. Wise discrimination and sound judgment should dictate your decisions regarding the bequest of riches to your successors.

"2. Everyone who enjoys wealth as a result of discovery should remember that one individual can live on earth but a short season and should, therefore, make adequate provision for the sharing of these discoveries in helpful ways by the largest possible number of his fellow men. While the discoverer should not be denied all reward for efforts of discovery, neither should he selfishly presume to lay claim to all of the advantages and blessings to be derived from the uncovering of nature's hoarded resources.

"3. As long as men choose to conduct the world's business by trade and barter, they are entitled to a fair and legitimate profit. Every tradesman deserves wages for his services; the merchant is entitled to his hire. The fairness of trade and the honest treatment accorded one's fellows in the organized business of the world create many different sorts of profit wealth, and all these sources of wealth must be judged by the highest principles of justice, honesty, and fairness. The honest trader should not hesitate to take the same profit which he would gladly accord his fellow trader in a similar transaction. While this sort of wealth is not identical with individually earned income when business dealings are conducted on a large scale, at the same time, such honestly accumulated wealth endows its possessor with a considerable equity as regards a voice in its subsequent distribution.

"4. No mortal who knows God and seeks to do the divine will can stoop to engage in the oppressions of wealth. No noble man will strive to accumulate riches and amass wealth-power by the enslavement or unfair exploitation of his brothers in the flesh. Riches are a moral curse and a spiritual stigma when they are derived from the sweat of oppressed mortal man. All such wealth should be restored to those who have thus been robbed or to their children and their children's children. An enduring civilization cannot be built upon the practice of defrauding the laborer of his hire.

"5. Honest wealth is entitled to interest. As long as men borrow and lend, that which is fair interest may be collected provided the capital lent was legitimate wealth. First cleanse your capital before you lay claim to the interest. Do not become so small and grasping that you would stoop to the practice of usury. Never permit yourself to be so selfish as to employ money-power to gain unfair advantage over your struggling fellows. Yield not to the temptation to take usury from your brother in financial distress.

"6. If you chance to secure wealth by flights of genius, if your riches are derived from the rewards of inventive endowment, do not lay claim to an unfair portion of such rewards. The genius owes something to both his ancestors and his progeny; likewise is he under obligation to the race, nation, and circumstances of his inventive discoveries; he should also remember that it was as man among men that he labored and wrought out his inventions. It would be equally unjust to deprive the genius of all his increment of wealth. And it will ever be impossible for men to establish rules and regulations applicable equally to all these problems of the equitable distribution of wealth. You must first recognize man as your brother, and if you honestly desire to do by him as you would have him do by you, the commonplace dictates of justice, honesty, and fairness will guide you in the just and impartial settlement of every recurring problem of economic rewards and social justice.

"7. Except for the just and legitimate fees earned in administration, no man should lay personal claim to that wealth which time and chance may cause to fall into his hands. Accidental riches should be regarded somewhat in the light of a trust to be expended for the benefit of one's social or economic group. The possessors of such wealth should be accorded the major voice in the determination of the wise and effective distribution of such unearned resources. Civilized man will not always look upon all that he controls as his personal and private possession.

"8. If any portion of your fortune has been knowingly derived from fraud; if aught of your wealth has been accumulated by dishonest practices or unfair methods; if your riches are the product of unjust dealings with your fellows, make haste to restore all these ill-gotten gains to the rightful owners. Make full amends and thus cleanse your fortune of all dishonest riches.

"9. The trusteeship of the wealth of one person for the benefit of others is a solemn and sacred responsibility. Do not hazard or jeopardize such a trust. Take for yourself of any trust only that which all honest men would allow.

"10. That part of your fortune which represents the earnings of your own mental and physical efforts--if your work has been done in fairness and equity-- is truly your own. No man can gainsay your right to hold and use such wealth as you may see fit provided your exercise of this right does not work harm upon your fellows."

 

When Jesus had finished counseling him, this wealthy Roman arose from his couch and, in saying farewell for the night, delivered himself of this promise: "My good friend, I perceive you are a man of great wisdom and goodness, and tomorrow I will begin the administration of all my wealth in accordance with your counsel."

Source

UB

 

Fulfilling the Promise of a Creator Son