Do banks have the right to loan money?


Richard Moore

From: "Marc Bombois" <•••@••.•••>
To: <Undisclosed-Recipient:;>
Subject: fantastic news
Date: Tue, 19 Apr 2005 17:40:13 -0700

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 defendants' 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 defendants 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

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

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.

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Richard Moore (rkm)
Wexford, Ireland

"Escaping The Matrix - 
Global Transformation: 
WHY WE NEED IT, AND HOW WE CAN ACHIEVE IT ", somewhat current draft:
    "...the Patriot Act followed 9-11 as smoothly as the
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