According to Douglas Carswell MP, in his recent reading of the proposed Financial Services (Regulation of Deposits and Lending) Bill 2010-11, any money you deposit into your bank account becomes the property of the bank and that they use it to create money out of thin air.
Freemen have asserted that money is fraud and this has now been confirmed by Mr Carswell as he admits that:
- Our entire society functions with fiat (imaginary) currency with no inherent value
- The banks “invent” money when they lend it and do not lend you the deposits of their customers
- Every time they “sell” a loan, mortgage, credit card or other debt they commit fraud (not informing you)
- If you were to pay back any money to any of these systems – YOU would be committing fraud
- This means that a £100,000 loan or mortgage generates £4million for the bank in sub-loans and further profits
This system creates every bubble and recession that we’ve seen in modern times.