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Jerome Daly, The Federal Reserve, & The Credit River Decision

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posted on Aug, 18 2008 @ 07:57 PM
Ok so I was doing a lot of research on the Federal Reserve and our monetary system as a whole. What I found out, which confirmed my already existing beliefs, was that our system really is a giant hoax. I am referring to after the creation of the Federal Reserve. I also discovered, although I can’t remember where I found the chart, that there basically was no such thing as inflation prior to 1913 (which was when the Federal Reserve was created).

But….this is what I found out last week. This is monumental but only a handful of people know about it. I found out about an old court case (from 1968) that blew the doors open on this whole fraudulent system. I was blown away by the court documents. And yes, I found the actual documents. They are on the law library of Minnesota website. I've seen two brief mentions of this case but there has not been the proper discussion about it and it's significance.

those are where the files are located.

I’ll give you a brief summary. Jerome Daly (the Defendant) was an attorney whose house was being foreclosed upon because he stopped paying his mortgage of 14,000 dollars. The Plaintiff, the First National Bank of Montgomery brought him to court for the foreclosure process. Daly decided to defend himself since he was a lawyer (and also happened to be a bit of a political activist). Daly’s argument was that he owed the bank nothing because the “consideration” (their monetary fulfillment of their part of the contract) that they put forth to purchase the house was not actually money because the bank created it out of thin air. Now here’s the real kicker. Not only did Daly make this argument but his only witness was the bank manager from the bank. He got the manger on the stand and got the bank manager to fully and completely admit that they did in fact create the money out of thin air for the mortgage and that this was standard banking practice, not just by their branch or their bank, but by all banks in general.

Now….I strongly suggest that you at least read the Judgement and Decree which is the first link of that site above. Here are the truly stunning excerpts from it (which BTW, I want to remind you are in the Judge’s own words and again this is on a government site so the source is definitely legitimate):

“Mr. Morgan admitted that all of the money or credit which was used as a consideration was created upon their books, that this was standard banking practice exercised by their bank in combination with the Federal Reserve Bank of Minneapolis, another private bank, further that he knew of no United States Statute or Law that gave the Plaintiff the authority to do this.”

“Plaintiff admitted that it, in combination with the Federal Reserve Bank of Minneapolis, which are for all practical purposes, because of their interlocking activity and practices, and both being Banking Institutions Incorporated under the Laws of the United States, are in the Law to be treated as on and the same Bank, did create the entire $14,0000 in money and credit upon it’s own books by bookkeeping entry. That this was the Consideration used to support the Note dated May 8, 1964 and the Mortgage of the same date. The money and credit first came into existence when they created it. Mr. Morgan admitted that no Untied States Law or Statute existed which gave him the right to do this.”

“Plaintiff’s act of creating credit is not authorized by the Constitution and Laws of the United States, is unconstitutional and void, and is not lawful consideration in the eyes of the Law to support any thing or upon which any lawful right can be built.”

I did a little digging around to try to find out (besides the obvious reason) why this isn’t well known. Apparently, since this court was a “justice of the peace” court – these cases are not precedent-setting and are therefore not published. Hence, only a tiny number of people know about the case.


[edit on 18-8-2008 by Jerome_Daly]

posted on Aug, 18 2008 @ 07:58 PM
One last thing I forgot to mention. The judge died 6 months later in a “boating accident”. I saw numerous people online claim that poison was actually found in the judge’s body but couldn’t verify that. But he definitely died 6 months later.

posted on Aug, 18 2008 @ 08:08 PM
Nicely done. Most people are too busy to bother finding the truth about the beast that overtook us. The Fed (and all its' international brethren) are a blight on mankind. Potentially the single most successful crime ever committed upon a 'willing' populace.

The shame is that our leaders can't figure out how to run a country without ripping the people off.

posted on Aug, 18 2008 @ 09:26 PM
Yep, the banks do create money out of thin air. Before I even read your link, I'd bet that the defendant also had to subpoena the bank's bookkeeping records so that they could be used as evidence in court...That's the only way he could prove it. But he's right.

Thanks for the link...It shows an actual court citation that can be used when needed.

I think it was ATS Member swingarm who first linked to here, which is a Adobe PDF file of 96 pages where a woman accounts her battle to separate herself from the PTB. In there she describes the same thing you've talked about here.

Another thing to remember is that, if presented with an actual bill, you have to pay it...But any "notice to pay" or "statement" can be legally challenged. If they can't legally create an actual bill, you owe them nothing.

You may also find this thread to be particularly enlightening too. It deals with all sorts of laws, yes, including taxes & other financial matters.

[edit on 18-8-2008 by MidnightDStroyer]

posted on Oct, 19 2008 @ 04:52 AM

posted on Dec, 9 2008 @ 08:00 AM
I think this thread needs to get more attention considering the financial situations we are going through today. I feel that many people can fight this fight as the banks try to foreclose on their homes. I have a friend who is getting foreclosed on and Im trying to convince him to fight it and use this defense. If he does I will keep u guys posted.

posted on Dec, 12 2008 @ 03:15 AM
Going one step further than just the "created money" used for a mortgage loan...Since this is the same way that the Federal Reserve Bank operates in order to loan to the US government, that means the entire federal deficit is also invalid & therefore the government has no business taxing us into the abyss simply to try paying it back!

In fact, since the Constitution delegates Congress with the power "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;" (Article 1, Section 8, Clause 5) but the Fed Res is not directly controlled by Congress at all, this means that the Fed Res is nothing less than an illegal "loan sharking" criminal organization...

And it also follows that, since Federal Reserve Notes are not legal as money in the USA (Article 1, Section 10, Clause 1: No State shall...make any Thing but gold and silver Coin a Tender in Payment of Debts
then the Federal Reserve Bank is also into criminal counterfeiting...

And Congress is also delegated "To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;" (Article 1, Section 8, Clause 6)...

Then Congress has every right and lawful duty to void the federal deficit & arrest the entire Executive Board of the Federal Reserve Bank for indictment. As long as they put off performing this lawful duty, Congress commits Treason! As defined by the Constitution: "Treason against the United States, shall consist only in levying War against them, or in adhering to their Enemies, giving them Aid and Comfort. No Person shall be convicted of Treason unless on the Testimony of two Witnesses to the same overt Act, or on Confession in open Court." (Article 3, Section 3, Clause 1). Take close note of the phrase I emphasized in bold text...As the Federal Reserve Bank acts as a destructive influence on our country, they are the Enemy of the People & the current US Government continues to "aid & abet" with them.

[edit on 12-12-2008 by MidnightDStroyer]

posted on Dec, 12 2008 @ 03:18 AM

Originally posted by MidnightDStroyer
Going one step further than just the "created money" used for a mortgage loan...Since this is the same way that the Federal Reserve Bank operates in order to loan to the US government, that means the entire federal deficit is also invalid & therefore the government has no business taxing us into the abyss simply to try paying it back!

[edit on 12-12-2008 by MidnightDStroyer]

But the thing is though that not all of the debt is held with the FED its held by investors and other countries. Not paying them back would = war but then again getting rid of the FED would probably take us to war too. Hmm what should we do.....ok lets get rid of the FED

posted on Dec, 12 2008 @ 03:41 AM
reply to post by mybigunit

As I see it, since the Fed Res is, in reality, a foreign-originated, foreign controlled privately-owned & operated cartel of banks, then they alone are responsible for paying back those foreign debts...The People of this country, if we kick the Fed Res out completely, will have no "equity interest" in paying those foreign debts. It's the corporation that bears the responsibility, not the Citizens of this nation.

The federal deficit is not what the People owe to the government...It's what the government owes to the People, since they "borrowed" the entire deficit based upon the "credit" of the People in the first place.

[edit on 12-12-2008 by MidnightDStroyer]

posted on Jan, 8 2009 @ 10:32 AM
Does this also include Private Mortgage Lenders?

posted on Feb, 4 2009 @ 12:06 PM
2 good movies about this topic is the Zeitgeist - The Movie addendum, the original is pretty good but the addendum is all about the federal reserve. Another Great watch is money masters, which can be watched on youtube or google.

I believe that this includes private banks, especially if they practice fractional reserve banking, which is standard banking practice. The rulling was that federal reserve notes violates the constituion becasue they are made out of thin air, if you put your house up as colatoral what do they put down? where is the fairness in that. The constituion talks about fairness in trade and current money completely violates it. The judicial system was put in place to interperet the supreme law of the land, the constituion and they can not make a ruling in favor of somthing that violates the constituion, they are here to uphold it. The court case w/ Jerome Daly found that Federal Reserve Notes are VOID and Unconstituional and i dont think it matters who uses it, they are void and unconstituional.

This also applys to the IRS i know people who do not pay their federal income tax and have won because the judiciary commity can not enforce something that violates the constitution. Current Presidential candidates Cynthia McKinney openly states that she has not paid a federal income tax in over 7 years and is proud of it. She is my hero.

I myself am taking washington mutual up with this law on my credit cards, I have sent them multiple letters to their dispute center via certified mail, return reciept and of course they claim to have not gotten any of them? But this is a battle we should all fight because we are headed for a huge crash of unpresidented proportions unless we change the way money works.

posted on Feb, 26 2009 @ 05:06 PM

As far as the Landlord/Tenants issues, we are seeing that Judges are not contemplating the existence of the Loan Mortgage Agreement and the Clauses where it is stipulated as to the ASSIGNMENT OF RENTS. It is imperative that we realize that we do have an allegation which is the Lack of Jurisdiction since the Borrower can not Evict a Tenant or try to collect any rents since they are not authorized to do it once they are notified that they (Borrowers) are in default as far as their Loan Mortgage Agreement....

All deeds and Mortgage Notes show when the Borrower is considered to be Notified once in Default.....

posted on Feb, 26 2009 @ 05:27 PM
If the Federal Reserve can make money out of thin air, why do they want the money back, with interest? Can anyone figure that? Greed? No,.. control, power.

Besides, all debt cannot be paid off, there is not enough money in the world, not everyone can pay, it's designed to fail people.
They make money from nothing and it's paid back with sweat and labour. And requires losers in order to function.

What a scam!

posted on Mar, 7 2010 @ 08:06 AM
everyone type in 96 is your fix.

this is the beginning of a new age.

an age where man is equal. and freedom and peace shall be the way of life.

i was wondering if there was anyone who knew of a way to obtain a loan from a bank without a job or credit?

i believe i can somehow convince the bank to do this because in the end they do not lose any money. Since it is created out of thin air. Also the banks take my signature, and create even more debt/loans.

I really hope so because in 2012, according to the Mayan's, who had extensive knowledge of life, the cosmos, and consciousness, had recorded the past 16 billion years (the big bang) and through each of the nine underworlds (pyramid in Chin Itza) sorry about the spelling im to lazy because its 6 a.m. The nine underworlds represent an evolution of creation/consciousness.

Each underworld is greatly shorter than the previous. Each new underworld has an evolution in consciousness. From the big bang, to the first cells, to the first plants, to the first animals, to the first humans, to the first speaking of language, to the first written language, to the first industrialism, to the first democracy (i guess), ALL OF THIS IS RIGHT IN FRONT OF OUR EYES.

Terence McKenna, the psychedelic genius, and his I-Ching time-wave zero theory. This is all coming together very shortly and people will start if not already, feeling something from within. As am I.

I meditate frequently, and to aid in my meditation, is cannabis, which actually heals calcification of the pineal gland, the third eye, which fluoride is most accumulated and causes many problems with the human body. Its in our water supply. Only because of the front that says its good for our teeth.

Well it also is what hitler used to dumb down his public, to make people more susceptible to control and his crazy ways, which have also adapted its way into the U.S.

What a world we live in.

posted on May, 18 2010 @ 02:48 AM
reply to post by Jerome_Daly

I don't know if anyone will revisit this thread after so long to read my question or to answer it, but here goes:

I spent several hours reading the documents listed from the link in your o.p. and am somewhat confused, especially by the last 2 or 3 documents on the list.

Although the defendant fights a good fight and says some very encouraging things at the Justice of the Peace court, he appears to be taking quite a bit on the chin from the bank's lawyers as the story progresses through the documents. In the end, it appears that the Justice of the Peace court's decision is nullified by the state Supreme Court, and that Mr. Daly is sanctioned for contempt and prohibited from practicing as a lawyer in Minnesota. Also, there appears to be some willful chicanery regarding the original court transcripts and records, and even the hopeful reader is left with the suspicion that Mr. Daley committed some impropriety vis a vis those records.

But I am completely confused by the last two documents: the Stipulation of Dismissal and the letter from TRM to HPH. Was the case ultimately dismissed by agreement of both attorneys? Why does the letter from the banks attorney dated in 1971 request notation of the court calender in 1969? And what happened to the contempt charges against Mr. Daley?

Can anyone shine a little light on these matters? Thank you.

posted on Sep, 16 2010 @ 10:53 AM
You stated "there appears to be some willful chicanery regarding the original court transcripts and records, and even the hopeful reader is left with the suspicion that Mr. Daley committed some impropriety vis a vis those records ", that may be so, but that does not stop the important facts.

The banks unlawfully create the "consideration", that they give you as a loan, on their books at the time of your "loan", that did not exist before. This "consideration" is against GAAP (Generally Accepted Accounting Practices). Therefore the "Loan" or "Contract" is unenforceable.

However, a long standing maxim of law is something to the effect "He who does not assert his rights, has none". Jarome and the Judge (may they both rest in peace) provided us with some very powerfull and useful information. It is up to us to use this information to our advantage.

I am working on an a system right now to get rid of a mortgage on my house, and I am going to use the information provided by Jarome, along with the "produce the note" movement, to accomplish this task. It's based on truth.

The fact is, this whole system is based more so on our Ignorance, as opposed to actual FRAUD as some say. They tell you what they are doing, in books. The system itself is actually an HONORABLE system, the UCC (Uniform Commercial Code), or else it would not work in the eyes of objective participants (China, etc). There are just a few individuals that benefit greatly from your ignorance of UCC, and history in general. That is why, if you want to hide something from an ignorant person, put it in a book, because they aren't going to read it anyway.

The Masses will remain ignorant, because ignorance is bliss, and most of can't handle the truth (there is no Santa Clause, and Jesus did not.... nevermind). As an enlightened individual, you can benefit, if your not killed first.

Bankers get away with these UNENFORCABLE contracts because the average person does not enforce his rights.

When the title is completely clear for my house, i will share my successful system. I just hope i dont end up like the judge for asserting my rights.

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