Case Law Prohibitions on Banking RE: 12 USC, Section 24, Paragraph "Seventh."
I am aware that the United States Code Title 12, Section 24, Paragraph 7 confers upon a bank, the power to lend its money, not its credit. In First National Bank of Tallapoosa v Monroe, 135 Geo. 614; 69 S.E. 1123 (1911), the court, after citing the statute heretofore quoted, said:
"[T]he provisions referred to, do not give power to a national bank to guarantee the payment of the obligations of others solely for their benefit, nor is such power incidental of the business of banking. A bank can lend its money, but not its credit."
In Howard & Foster Co. v Citizens National Bank of Union, 133 S.C. 202; 130 SE 758, (1927) it was said:
"It has been settled beyond controversy that a national bank, under federal law, being limited in its power and capacity, cannot lend its credit by guaranteeing the debt of another. All such contracts being entered into by its officers are ultra vires and not binding upon the parties nor the corporation. See also Merchants Bank of Valdosta v Baird, 160 F 642; 17 Lns 526 (1876).
"A lawful consideration must exist and be tendered to support the note." See Anheuser Busch Brewing Co. v Emma Mason, 44 Minn. 318, 46 NW 558 (1890).
In short, if there is no full disclosure and no consideration, there is no contract.
See the related 12 USC § 24, sub-paragraph the "Seventh."
QUESTIONS TO ASK YOUR BANKER REGARD ANY LOANS THEY CLAIM TO HAVE "MADE" TO YOU.
As evidenced above, Banks, including the 12 Federal Reserve Banks cannot loan “credit,” but only “money,”
how is it that all debts from any Bank are not cancelled via timely demand for verification?
and if the government at any level is share holder, how is it possible for the government to transfer or assign it’s debt, duty and obligations off onto the backs of the people who peopled the fifty states comprising the Union, thus making them the liable parties, in funding this government-sponsored terrorism?
Could it be that the United States is both a Holding Company and an Offshore Business Trust for Her Majesty and her principals/creditors via the Bretton Woods Agreement, as amended? The answers don’t come easy do they? Corporations cannot have citizen/subjects to tax. They can have residents who are treated as citizens however. See: Privilegia Londini, i.e., where the debtor’s domicil becomes that of the creditor’s upon execution of every contract consented or assented to. This debt is hypothecated, creating a lien on everything and everyone throughout the fifty states.Are you fed up with the negative cash flow and the proverbial cash cow always double dipping with your tax exemption. If you are a debtor to do the law, then ye are a debtor to do the whole law, are ye not?
Is jursidiction required in order to constitue due process of law?
Pennover v. Neff, 95 u.s. 714, 732-33, 24 L.Bd. 565, 572 (1877)
"Since the adoption of the Fourteenth Amendment to the Federal Constitution, the validity of (a judgment) may be directly questioned, and [its] enforcement...resisted on the ground that proceedings in a court of justice to determine the personal rights and obligations of parties over whom that court has no jurisdiction do[es] not constitute due process of law." - Pennover v. Neff, 95 u.s. 714, 732-33, 24 L.Bd. 565, 572 (1877)