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                      WRONGING BY WORDS IN AN ADHESION CONTRACT

When a bank approves a loan it records a promissory note, face value and consideration by electronic book entry deposit, as the bank asset, creating a new bank liability called checkbook money. This is really a loan from the signer of the promissory note to the bank. The bank returns the promissory  note value and consideration by issuing a check for the amount of the note.  

The check issued to a seller is the liability the bank owed from the book entry deposit of the promissory note, value and consideration as the bank asset, but it is not the bank asset until the issuing of the check for the note.

The bank loan agreement does not disclose the loan from the signer of the promissory note that has value and consideration, book entry deposit into the bank. Whereas banks advertise that it loans money, which it really does not. What banks do when they make a loan is to take promissory notes in  exchange for U.S. dollar digital credits, placed into an transaction account.

Banks imply that they loan money, but what is real, from the reality of the transaction, is that the bank took your asset and claimed it to be the banks, then supplied a check in the amount of your asset and called it a loan.

The truth is upon the book entry deposit of the promissory note, face value and consideration, the bank is obligated to give you credit, it owes you.

Therefore the check supplied to a seller is from the bank obligation to you. 

The bank loan check requires an asset that is to be sold, and its proceeds are to back the issuing of the check issued to either the signer or to a seller.

The Federal Reserve Banks publications admit that the bank never loaned  one cent of legal tender or other depositors’ fiat money. The Fed publications admit that the bank used the promissory note, face value and consideration to liquid fund the bank check issued as if a loan of money.

This deceptive act practiced is conversion which is legal fraud of contract. Taking the promissory note, face value and consideration as belonging to the bank, without giving full disclosure that the bank does not provide any value and consideration is indeed a deceptive act practiced by institutions.

People suffer from lack of actual knowledge and too much common knowledge, imputed by attorney’s who attorn them by adhesion contracts, which makes merchandise of people who suffer from common knowledge.