[Original letter to be sent to Creditors/Banks]
Dear Sirs:
I am writing to inform you that under Uniform Commercial Code (UCC) code 1-201 (23). "A person is 'insolvent" who either has ceased to pay his debts in the ordinary course of business or cannot pay his debts as they become due or is insolvent within the meaning of the federal bankruptcy law."
Due to being unemployed, and no income at this time, I come under the above, in that I am unable to pay the debts, and cannot pay the debts due at this time. This is unsecured debt, I do own property as my only asset, in the future I can elect sell or exchange this to pay the debts. Since that would leave me homeless, I would prefer to put that decision off for awhile. But in the future I may elect that my assets go to pay my debts and not to my heirs.
There are remedies under UCC that could be entered into if they are agreeable to both parties, they would be considered if offered. Under UCC code 1-207 (1) "A party who, with explicit reservation of rights, performs or promises performance or assents to performance in a manner demanded or offered by the other party does not thereby prejudice the rights reserved. Such words as ‘without prejudice,’ ‘under protest' or the like are sufficient." I reserve my rights to file bankruptcy, if that becomes necessary, or other UCC remedies after reviewing all relevant factors, to resolve the matter of these debts.
Under our current paper/debt/leveraged financial system, which is a house-of-cards ready to fall, as evidenced by the crisis in Asian countries (South Korea, Thailand & Indonesia). I have a hard time paying back paper debt with real assets, I understand that maybe Japan has just figured out that they are just holding paper. When I was young, our money had "Silver Certificate" printed on it, now it has "FEDERAL RESERVE NOTE" on the top of the bills, and it is just paper based on trust. Already one can see the cracks in the "debt pyramid" dam.
John Exter, former vice president of the Federal Reserve Bank of New York, says "The paper dollar has become an 'IOU nothing,' as have all paper currencies in the world today. As such, one 'IOU nothing' currency has to trade in the market-place every day against the 'IOU nothings' of all the other central banks. We are in a world of irredeemable paper money -- a state of affairs unprecedented in history." Maybe Mr. Ben Bernanke can create out of nothing and print some more money to pay off my debts, since he is doing this for investment bankers and foreign countries, and already creating inflation here in America.
In 1966, Fed Chairman Alan Greenspan, wrote: "...The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves... This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as protection of property rights." Now why should I give up my property rights to this scheme for the confiscation of the wealth of all the people of America to the few?
This debt money system has been tried before with the Revolutionary War (1775), and that is why they put in Article I. Section 10. 1. No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make any thing but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility. As early as Babylon there were debt slave systems, the Roman Empire, French Revolution and Nazi Germany all came to their end based on a fraudulent money system.
The ultimate jurisdiction belongs to the Creator of the Universe, all property of the earth belongs to God the Creator. (Leviticus 25:23-28, 35-37 NIV. ". . .because the land is mine, and you are but aliens and my tenants."
Under U.S. vs. Throckmorton, [98 US 61-71 (1878).], that fraud vicerates, nullifies and abrogates anything to which it attaches, even the most solemn contracts, judgments and agreements. Our whole financial system is a fraud on the American people, and this all started before I was born.
I have not decided how to ultimately handle this debt, but this is notice that I am no longer able to pay for the high usury interest. Please no harassment or phone calls. Please make your response in writing and I will respond to the same.
Sincerely yours,
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