Archive for September, 2012
We have now formulated a letter to send every police force Chief Constable, copied to all Police Federation groups and Police Authorities. It is to request they all work in unison to investigate and arrest certain senior politicians such as Tony Blair, David Cameron, Nick Clegg, John Major and others for their treason against us and our country as has already been reported to the police forces.
For this letter to be effective we want as many people as possible to agree to have their name and postcode attached to it by way of a petition. The reason for including the postcode is to show that signatories are genuine and not contrived. The postcodes will also show that people from all over the country are in agreement.
A copy of the final letter with all the signatories included will be sent to each of those signatories so that they will be aware of how many other people are included and to whom the letter went.
We ask that this letter be sent to everybody you know likely to be in agreement with it, so they too would have the opportunity to support this proposal. This could be a powerful piece of information to the wider public many of whom may not presently be aware of the ongoing treachery or that there are many people across the country determined to bring it to an end. I’m sure there are very many people to whom we can all send this.
Please will everyone reply to me directly at firstname.lastname@example.org within seven days (30 September) saying simply, “Yes, please include me” and please include your post code.
For the Attention of the Chief Constable
Dear Chief Constable
You will be aware that a large number of people across the country have reported the major crime of High Treason committed by senior politicians. Many of these public spirited people now support this email by adding their names and post codes at the bottom.
We are aware that Chief Constables may have limited knowledge of Constitutional and Common Law thus creating a difficulty in knowing how to handle such allegations. The most important issue to understand is that absolutely nobody is above the law – this includes Her Majesty The Queen, the Prime Minister and the Commissioner of Police. The sworn police oath and duty are to investigate all reported crimes. We do understand that treason is no ordinary crime and that care must be taken to diligently investigate it. There is however, ample evidence in the public domain which makes this crime quite clear. What is happening, is that because it is a relatively unknown crime Chief Constables are tending to sweep it under the carpet and in so doing, are committing the major offence of Misprision of Treason. Through media suppression, the public are generally still not aware of it. But as more people come to recognise what is going on, it is only a matter of time before the pressure becomes overwhelming.
May we suggest that Chief Constables resolve to discuss our treason allegations collectively and to investigate them in unison ? This would remove all possibility of recrimination from Government or political parties as neither has authority to prevent police enquiry and massive public support would be assured just as with the MPs’ expenses scandal. The difficulty is that politicians arrogantly believe themselves above reproach and that no mechanism exists that could bring them to account. We know that there is. It is the law – and we have already supplied you with it. With mounting public awareness, neither the public nor their claims will now go away.
These politicians are doing their best to destroy our well-trained police service with swingeing cuts in manpower and resources so to bring about privatisation. The catalogue of disasters that they have dispassionately overseen and allowed to befall the country is legion. It has been due entirely to our illegal membership of the EU at their behest and their subservience to a higher agenda. Among their disasters are the corrupt banking system, our recession and austerity, the ruination of our fishing, farming and heavy industries and worst of all, Her Majesty’s loss of sovereignty to the EU and the billions criminally wasted on the EU each year. Repeated surveys show that over 80% of British people blame our politicians for Britain’s parlous situation that we have not authorised or ever would. All those who throughout history have fought for and secured the numerous documents comprising our Constitution would be mortified to see its indifferent violation by their political successors.
Public respect and support for the police has historically been very high and we see how the public have reacted to the recent tragic events in Manchester. Much of Britain’s crime is perpetrated by people invited without limit from overseas. The high level of foreign criminals filling our prisons testify to this and result directly from the actions of our treacherous politicians. If Chief Constables realised, public support would but for these corrupt politicians, unquestioningly enable the proper funding and resources for the police in their task of protecting us. Privatisation is a political construct designed to destroy.
Andrew Mitchell’s recent disgraceful outburst at a police officer is indicative of senior MPs’ contempt for the police – and the public. We believe such behaviour is born of politicians’ arrogance that they are above the law despite growing public anger at the decades of treason they have committed. The Metropolitan Police Federation comment that Mitchell was “lucky not to have been arrested” confirms that every constable has authority to arrest even senior ministers in Downing Street. We totally support the Police Federation Paul McKeever’s reaction that “It is hard to fathom how someone who holds the police in such contempt could be allowed to hold a public office”.
Our country does not belong to the Queen, the Government or the Palace of Westminster. Our Constitution clearly shows that it belongs to the people. The other three govern it only in trust for us. We therefore call upon the Chief Constables as servants of Her Majesty and her people to uphold their solemn oath and the law of the land, in the knowledge that the public will be totally behind them.
Up to a trillion rand could be refunded to South African customers by the banks. This is precisely the kind of cash injection that will help bring our country out of debt slavery and into a new age of prosperity.
Millions of South Africans who have loans or credit could see their monthly repayments reduced substantially. And tens of thousands of people who have had judgments against them over the past two decades may be eligible for compensation. Garnishee orders should be slashed and small businesses struggling with overdrafts should be released from the shackles of debt slavery.
In simple terms – it is very possible that your credit card, home loan, personal loan, vehicle loan or any form of credit you may have, has been settled in full by a third party, called a Special Purpose Vehicle (SPV). Because your loan has been settled in full (ie. the bank has been paid out for your loan), the bank cannot bring your case to court. Under these circumstances, the collections process undertaken by banks, and any judgments taken by the bank as a result, would be unlawful.
Once a loan has been securitised (this is the technical term for this process), the bank loses the legal right to the asset. Confirmation of this was given to the New Economic Rights Alliance in the form of the attached letter from the South African Reserve Bank (see page 5, para AD8).
Unfortunately the banks “neglect” to tell the customer that their loan has been settled thanks to securitisation. This is why The New Economic Rights Alliance, a non-profit organisation, was formed. We are here to educate the South African people, and take legal action if required.
An example of where a bank has admitted outright securitisation, and withdrawn their court case, is the case of ABSA vs Louis Louw. You can read about this case in our legal documents at www.thebigcase.co.za.
Several overseas court cases have also proven that what we are saying is correct. For example:
- A very recent case in Washington witnessed a huge victory that has opened the door for many future lawsuits of this nature (http://www.reuters.com/article/2012/09/14/us-foreclosures-courtcase-washington-idUSBRE88D1OF20120914).
- If that is not enough, an important case in Hawaii confirmed that a bank has no right to sue for an asset that has been securitised (http://stopforeclosurefraud.com/2012/03/31/usdc-judge-seabright-in-hawaiii-exemplars-securitization-fail-and-dismisses-a-foreclosure-for-lack-of-standing/).
- There was also a massive US$37 billion settlement paid out by five major banks in the US under similar circumstances: (http://www.cbsnews.com/8301-500395_162-57373706/5-banks-in-$26b-settlement-with-feds-over-abuses/).
- And hot off the press, the banks have just lost a huge case in Australia over securitisation (also called Collateralised Debt Obligations – CDO’s). This time, it was the investors who took down the banks for misleading them. This court case effects people all over the world (http://www.abc.net.au/news/2012-09-21/lehmann-brothers-test-case/4273896).
- Even the Federal Deposit Insurance Corporation is suing the major banks in the US for securities fraud. (http://jhaines6.wordpress.com/2012/09/16/bombshell-bombshell-bombshell-fdic-sues-the-big-banks-for-massive-securities-fraud/)
- There are many other cases too numerous to mention, but legal beavers who want to see for themselves should look up these cases:
- Wells Fargo Bank, N.A. v Farmer, 2008 NY
- Francis J. Bevilacqua, Third vs. Pablo Rodriguez, Oct. 18th, 2011
- FERREL L. AGARD Case No. 810-77338
Securitising loans behind the backs of the customer is a huge business for South African banks. According to the Banking Association of South Africa’s website, banks are securitising around R30billion per month (http://www.banking.org.za/Securitisation/detailed.php.) These numbers indicate that the banks are offloading private debt very quickly onto the public. This is leading to a kind of “financial cannibalism” where one person is forced to rely on another person’s repayments in order to survive.
If you default on a loan, the debt to the SPV and its investors are covered by an insurance policy. This is provided for in the Securities Services Act. Insurance of this nature (usually called a credit default swap) nearly sent insurance giant AIG under in 2008. When insurance pays out, the debt is settled. So, quite simply, there can be no legal case against you because all parties have been settled. In law, this would be referred to as de minimis non curat lex.
Securitisation has yielded massive profits for the banks while the customer continually loses out. Because they did not disclose what they were doing to the customer and did not inform the customer that their debt had been settled, we believe that the bank profited unfairly. Is it time to bring the scales of justice into balance?
Feel free to have your lawyer or debt counsellor contact us for more information. Alternatively, stand by while we prepare for a class action lawsuit whereby all South Africans can join with NewERA and claim from the banks what is rightly theirs.
Please let all your friends, family members and colleagues know about this letter, and to join us at www.newera.org.za.
THE NEW ECONOMIC RIGHTS ALLIANCE
PS. If you would like to demand answers from your bank right now, below is a list of questions that you can ask. If you are lucky enough to receive a response, read it carefully. You will notice that your questions will probably not be answered directly. Click here for a list of contact details.
- Am I indebted to the bank right now? (Please answer yes or no).
- Please confirm that the bank actually possessed the money they claim to have lent me, prior to my loan being granted. In other words, did the bank physically have the money they lent me, prior to the money appearing in my account?
- Would the bank be prepared to amend the credit agreement as follows: “We, the bank, did in fact possess the money we loaned you, prior to the loan being approved.”
- Was the loan funded by assets belonging to the bank at the time the loan was granted? Either way, please describe in detail the accounting process used to create my loan.
- Did the bank record my promissory note / negotiable instrument as an asset on its books? If yes, how was my instrument used to create my loan, and where is my valuable promissory note / negotiable instrument now?
- Does the bank participate in a securitisation scheme whereby debts / promissory notes are bundled and then sold-on to a third party/parties via special purpose vehicles, entities or alike processes?
- Was my loan securitised? If so, please send me all details regarding the securitisation.
- Does the bank have a legal right to collect money it claims I owe it? If so, then were does this legal right come from, assuming the loan has been securitised?
- Has my loan with the bank been settled by a special purpose vehicle, insurance policy, or by any other party?
- Regarding the security given to the bank by me, has this security been sold on or given as security to another party?