Print this out, and mail it instead of your monthly check:
It has come to my attention that:
- Whereas banks can afford liabilities ten times the amount of their assets, due to customer requests being typically less than 10% of deposits
held;
- And knowing the above, that the banks operate under fractional reserve banking practices to loan out nine times the quantity of money they actually
possess;
- That the money loaned is created out of nothing, and is not the product of labor, exchange or savings, but is new created money evidenced only by
bookkeeping entry and then introduced into circulation;
- That the value this money, if described as a “student loan,” is only in the sense that it can be exchanged for services provided by an
educational institution, but being paper, checkbook, or digital money is of negligible intrinsic value itself;
- Therefore that the bank offered no tangible consideration of its own possession, either in services or materials;
- And according to law, a contract not offering consideration from both parties being null and void;
- Further, that according to the United States Constitution, lawful money is defined as gold or silver coin;
- And therefore that the bank is perpetuating a fraud of counterfeiting of currency;
- And having engaged in contract to provide consideration to the borrower, is in breach of contract to deliver lawful money;
- And because the loans of the bank in reality represent no loss of assets of any tangible value possessed by the loaning institution, and thusly
being an illegitimate fraud;
I hereby repudiate any alleged debt owed to said institution or representative of.
Signature:___________________________________________________________
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reply to post by hwn034g6
All it is going to get me is a late payment fee and I will owe double the amount the next month.
Has it worked for you?
Guess it would be a great tool to tick them off.
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Your using the Zeitgeist model from the law suits that were carried out years and years ago, decades really. Those flaws in the contracts have been
fixe, banks aren't stupid, they wrote in a clause that prevents you from doing these types of things.
And besides there's NO way to get out of a student loan, even declaring bankrupcy won't work, thats something that needs to be paid back, no getting
around it.
Sorry!
[edit on 1/6/2009 by tothetenthpower]
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That model is not from Zeitgeist. There was an actual case about this a while back. The guy who sued won his case. However, it didn't have anything to
do with student loans, the case was about his house.
[edit on 6-1-2009 by Rocketgirl]
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If you look at the post it does say, law suits carried out years ago, and it was for his house, but technically if the law hadn't changed then they
could do it, it would be the same principle, but unfortunetly not anmore.
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No you missed the point, I was correcting you. The model didn't come from that movie.
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