Foreign Currency Loan Fiasco in 1980 - Dwyer v Commonwealth Bank of Australia

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School of Economics and Political Science
Working Papers

In the early 1980s, in the first flush of financial deregulation, three of Australia’s four major banks embarked on a strategy of marketing loans denominated in foreign currencies to small businesses and farmers. Devaluation of the Australian currency, especially against the Swiss franc, saw an escalation of principal owed in Australian dollars by such borrowers. The resulting crisis produced a wave of litigation against the banks. Some of the court judgments favoured the borrowers, albeit these judgments were in a minority. Legal precedent, judicial culture and the superior resources of the banks proved formidable obstacles to borrower success in the court system, not least against the Commonwealth Bank of Australia. This paper examines the judicial experience of one litigation in particular – that of Dwyer & Anor v. Commonwealth Bank of Australia. The thrust of Dwyer, although not identical, is representative of the experience of foreign currency loan borrowers in the Australian courts.

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Table of Contents

Banking Inquiry Speech by Senator John Williams in the Australian Federal Senate

Bank Fraud Exposed - Money out of YOUR Pocket!

Australian Bank Malpractice: Crucifixion and Resurrection

Australian Justice, Court Jesters, and Constitutional Crisis

Unfinished Business: Searching for a National Conscience

The Australian Bank Heist Condoned by Reserve Bank Watchdog

Bank Fraud in Australia is Systemic - part 2 - part 3

The Foreign Currency Loan Experience in 1980s Australia: Dwyer v Commonwealth Bank of Australia -  2 - 3 - 4 - 5

The Foreign Currency Loan Experience in 1980s Australia with particular reference to the Commonwealth Bank of Australia: bank documents, bank culture, foreign currency loan litigation

The Quade Appeal on Decision vs CBA - 2 - 3 - 4 - 5 - 6 - 7

Jones Letter to CBA Noting Hypocrisy concerning Dwyer

Dwyer Letter to Kevin Rudd

Dwyer Letter to Malcolm Turnbull, MP

Malcolm XXX Finally Rings at Election Time

WestPac Letter Warning of Foreign Currency Loan Risks

Clive Alexander Affidavit about Fraudulent Practices by Westpac Bank

Here Is How ANZ Handled the Withholding Tax Issue

ANZ Bommakanti to Ries

Bank Fraud in Australia Is a Step Toward Controlling the Economy and the People

Bank Fraud in Australia Is Systemic and Affects All Australians

A Case Study in the Adverse Small Business Environment in Australia

The Walter Family and the National Australia Bank - part 2

The Victorian Courts  - part 2

The Industry and the Federal Authorities

The State of Victoria and the Bracks Government

The NAB and the New Public Relations Program

The Regulators, the Law and Bank Malpractice - part 2

Conclusion and References

The Banks and Small Business Borrowers: case studies of adversity

by Evan Jones

1  - Introduction
2 - Goonans
3 - Paul Buckman
4 - The Walter family
5 - The McMinns
6 - Lynton Freeman
7 - Ross Delahunty
8 - Keith Smith
9 - The Somersets

Articles by Evan Jones

The NAB and Its Publicity Grabs

Innovation at the NAB and Grab

NAB accused of dirty tricks in Queensland

Bank Fraud and John Howard

Australian Four Pillars Bank Policy

Document Discovery and the Australian Courts

Final Warning: A History of the New World Order

Banks Behaving Badly

When the Bankers became Con-men

NABbed - an overcharging scandal involving the biggest Australian bank

Tony Rigg -Never in Default


2 - Fraudulent Swiss Franc loans

3 - Insider Trading within a Secret Society

4 - Corrupt Receiver and Illegal Eviction

5 - Collusion in Government

6 - Commonwealth Bank Code of Practice

7 - Pioneer in Steel Structure Building

8 - Summary of Argument on Appeal from Federal Court

9 - Brief for Joanna Gash, Federal MP from Gilmore

Steve Heinrich's Last Submission to Federal Court

Wilfred Taylor

Corporate Australia

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The Corrupt Origins of Central Banking

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Hedge Funds, Naked Short Selling, Phantom Stocks and Stock Market Collapse- 2 - 3 - 4 - 5 - 6 - 7 - 8 - 9 - 10 - 11 - 12- 13 - 14 - 15 - 16 - 17

The Coming Collapse of the Modern Banking System:  Staring Into the Abyss

Economic Collapse of 2008 An Inside Job - 2

Behind the Stock Market Illusion is Government Collusion

The Slide, the slide, the long coming sliiiiiiiiiiiiiiiiiiiiiiiiiiiiiiide

The Condition of the Dollar

I Want The Earth Plus 5% -- an allegory that's not a fairy tale.

Collapse of the Dollar: How America Was Set Up to Take a Fall

Confronting the Illegal Money System

The Federal Reserve Dollar is Private Money Derived from Private Credit

Billions for Bankers - Debts for the People - 2 - 3 - 4 - 5 - 6

Real Story of Money is Global Control

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Drug Smuggling

Stopping an IRS Audit with 32 questions

Social Security Number and W-4

Recording a Notice of Lien as a Lien

Agent Reveals IRS is a Fraud

Why Taxes Are Not Necessary

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Hidden Truth about Income Taxes

Patricia Poulos, Senior Consultant and Head of Litigation

The plight of Tony Rigg and others is a disgrace.

What a blight on the Legal System and the government, when the likes of successful businessman Tony Rigg has had to assume the role of his own lawyer.

Try though they may, these wonderful Australians are no match for those who act for the banks and other lending institutions and who, without
conscience, sacrifice these innocents to the scrapheap.

I have been where these fine people are, and now have a real
opportunity to assist. I now own an Incorporated Legal Practice - "NICHOLAS POULOS LAWYERS" and we specialise in litigation (but have a general practice).

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The Skeleton in Uncle Sam’s Closet - The Day of Deceit at Pearl Harbor

Global Warming: A Convenient Lie

Global Warming Spinning a Convenient Lie

Another Inconvenient Truth: Polar Bears Love to Swim

Global Warming Needed in the UK a Decade Later

Global Warming Propagandists Caught Pulling Green over the Eyes of the World

An Inconvenient Truth about Global Warming

Global Warming Carbon Credits Planned from the 1930's

Smart Grid the Implementation of Technocracy

State Crimes Against Democracy are State Crimes against We the People

Climate Change: Breaking the Political Consensus

There IS a Problem with Global Warming... It Stopped in 1998

The Axelrod Factor: Why Obama Fails to Deliver

The Foreign Currency Loan Experience in 1980s Australia:
Dwyer v Commonwealth Bank of Australia

A case study in litigation culture
Evan Jones

School of Economics and Political Science
University of Sydney

1. Introduction and Background 1
2. Dwyer v Commonwealth Bank in the NSW Supreme Court
3. Representative Sackar cross-examination
4. Some contradictory elements of the cross-examination
5. The judge brings his learning to bear on the case
6. The judgment 11
7. The Dwyer Appeal: substance
8. The tenor of the Appeal 15
9. The Appeal Judgment 18
10. The Missing Background 20
11. Conclusion 21
12. References 22

If you give me six lines written by the most honest man,
I will find something in them to hang him.
Attributed to Richelieu [1585-1642]

1 Introduction and Background

Beginning in 1982, and with impending deregulation of the Australian financial sector, three major banks (and some lesser players) fashioned loan products denominated in foreign currencies for small business borrowers. Australian interest rates were high; interest rates in some other countries (notably Switzerland) were significantly lower (roughly 7% compared to 13%). The number of such loans was never established with any accuracy, but it is estimated that between 3000 and 5000 such loans were made, mostly in the 1982-1985 period. The Australian dollar plummeted in 1985, and the principal owing blew out dramatically. A million dollar loan in Australian dollars (a not
unrepresentative sum) blew out to over two million dollars as the Swiss
franc appreciated against the Australian dollar.

Disbelief on the part of borrowers led to meetings seeking clarification and reassurance or instructions to cope with intolerable debt burdens. Disputation between borrower and lender escalated in the late 1980s and, in many instances, ended up in the courts. A small handful of borrowers were successful litigants, especially against Westpac, but the typical litigating borrower was unsuccessful, especially against the Commonwealth Bank of Australia.

The issues were extraordinarily complex, involving technicalities of foreign currency products and uncertainties associated with the relative movement of currencies (for which economists were brought in by one or both sides to offer ‘expert’ opinion). Contemporary media coverage was substantial, but surprisingly little published academic literature has been generated from this affair. Kingston (1997), and a reply by Valentine (1997) provide a rare (if narrow) contribution by economists. Weerasooria (2000) gives an impoverished and uninsightful summary from an academic legal perspective. The Martin Committee, in its general inquiry into the banking sector, heard copious evidence from participants in the dispute, only to produce a lamentable summary in its report, A Pocketful of Change (Martin Committee, 1991, Ch.17). A speech by one of the judicial participants in litigation, Andrew Rogers, offers rare substance for public exposure (Rogers, 1990). With superior resources, the banks were successful in many court cases in centring and limiting judicial wisdom to the issue of information and knowledge – what did the borrowers know about the nature of the product they had signed up for. The nature of the facility itself was removed from consideration.1 By contrast, at the centre of court litigation over foreign currency loans was whether the borrowers went into the contract with ‘eyes wide open’, the nature and extent of
information imparted by bank personnel, and whether bank lenders had a fiduciary duty to their borrowers regarding the viability of the foreign currency loan in the hands of the borrowers.

This peculiar emphasis of much litigation deserves attention; it has predictably been neglected because of the excruciating minutiae which forms the building blocks of such cases. Because of neglect, one case is offered as a case study in foreign currency loan litigation – Dwyer v Commonwealth Bank of Australia.2 The case went over 19 days (albeit some truncated), producing over 800 pages of transcript (Dwyer v Commonwealth Bank of Australia, 1991a).

What follows is not an impartial account. However, aspects of the
strategy of cross-examination and aspects of judicial intervention and
judgment, to this author, appear to fall below the standards of integrity
that we are led to expect of the legal process in a civilised community.
For that reason, considerable attention is paid to details in the proceedings.

1 This issue will be considered in a companion paper.
2 No transcripts of the Dwyer case are available on the website of the Australasian Legal Information Institute.

2 Dwyer v Commonwealth Bank in the NSW Supreme Court

In one of the Commonwealth Bank’s supplementary submissions to the Martin Inquiry, the Bank claimed that: “CBA’s position is that it responsibly approaches litigation, does not drag out court cases so as to increase the cost, nor does it mis-use the legal system.” - (Commonwealth Bank of Australia, 1991: 2464)

The evidence does not support this claim. First, there is the matter of
document discovery. Both the CBA and Westpac discovered documents belatedly, begrudgingly and partially. Early litigants against both banks lost cases in the courts in the face of inadequate discovery.

Moreover, court procedure itself exposes rough treatment of borrowers. John McLennan (adviser to foreign currency borrowers) has commented:

I have attended many of the cases heard before the court and
frankly, I am disgusted at the tactics used by the Bank’s counsel. It
appears the whole circus is run for the benefit of the Legal
profession with little or no interest in the real legal issues. I sat
through one session in Spice –v– Westpac where the Bank’s
counsel [R A Conti QC] cross examined Mr Spice for four hours
over the meaning of a pencil line drawn across a page in his diary.
(McLennan, 1990: 1350)

The Commonwealth Bank was not to be out-done. The process is exemplified in the CBA’s 1991 defence against the plaintiffs Geoffrey and Gloria Dwyer (Dwyer’s mother) in the NSW Supreme Court. The cross-examination of the CBA’s senior counsel, J A Sackar QC, was diversionary, abusive and manipulative. It is not until the sixth day of the hearing (and page 243 of the transcript – Dwyer v Commonwealth Bank of Australia, 1991a) that Sackar gets on to the crucial meeting on 1 August 1984 of Dwyer and his solicitor David
Baird with Mr Les Savell from the International Division of the CBA at which the nature of the foreign currency loan was discussed.

The transparent object of Sackar’s cross-examination was to highlight Dwyer’s prior knowledge of foreign currency loans and to destroy his credibility so that the role of CBA personnel could be made incidental to Dwyer’s actions. His Honour Acting Justice Staff was suitably impressed. The same drawn-out preliminaries are engaged in with the cross-examination of David Baird, Dwyer’s solicitor, with CBA matters not addressed until the twelfth day (1991a: 551). In the crossexamination of Baird, Sackar regularly interrupted Baird’s replies to Sackar’s questions, compelling Dwyer’s counsel to return to the
questions to facilitate a complete answer from Baird. In addition, Sackar perennially objected to the substance of his opposite number’s questioning of all witnesses. Sackar was also aggressive on admissibility, including bank-discovered documents. Sackar’s behaviour deserves examination at some length. I claim above that Sackar’s questioning was diversionary, abusive and

Diversionary? After the 1 August meeting at the Bank, Dwyer and Baird were taken to the Bank’s dealing room which, for Dwyer, was a public relations exercise oriented to impressing the visitors with the Bank’s competence (of which more below). Dwyer was suitably impressed. Sackar to Dwyer (1991a: 322):

Sackar: “How big was the room?

Dwyer: “It wasn’t really all that large.

Sackar: “Do you recall what Mr Knezevic looks like? ... Do you recall what Mr Fuller looks like? … Go on then?

“You were asking me to describe the room earlier.

Sackar: “I am not asking you to describe the room one bit. … I am not asking you to describe the room, all right?”

Diversionary?. Sackar to Dwyer (p.288):

Sackar: “[A synthetic loan] is a term, I suggest, you picked up from somebody other than the Commonwealth Bank.

Dwyer: “I recall Mr Savell using that expression.

Sackar: “I suggest he never used that description and always referred to it as a simulated foreign currency loan?

Dwyer: “He also used that expression as well.

Sackar: “In fact it is so confused in your mind you are not quite sure who used the term ‘synthetic’, is that right?

Dwyer: “No, I specifically remember.

Sackar: “By the way, I suggest [Savell] never used the word ‘synthetic.”
Bank-discovered documents for the Dwyer case included the CBA internal paper ‘Swiss Franc forecast – 1984/85’ (G34A), produced by Savell’s International Division in June 1984 (International Division, 1984). G34A has a 2 page attachment (written in February 1984 by J. M. McAnany) titled ‘Synthetic/Simulated Currency Loans’. The exchange regarding nomenclature highlights that a detailed familiarity with significant ancillary material may not have been a high priority for Court participants.

Diversionary? Sackar to Dwyer (1991a: 305):

Sackar: “Do you recall a company in Hong Kong called Owari?

Dwyer: “That was my company.

Sackar: “Do you recall business to the value, as at 30 June 1979, of some
$6,500 Australian being done through this entity in Hong Kong? … The Hong Kong situation, how was that effected? what was going to be done?”

Dwyer explained that Owari was an agency to facilitate manufacturers exporting to Australia and bypassing their agents in Australia with whom they were unhappy. Sackar was attempting to impute that Owari was both a tax haven for Dwyer and proof that Dwyer had substantial knowledge of overseas currencies. The miniscule scale of activities in 1979 should offer a clue as to the lessons to be learnt from this marginalia. Ignoring Dwyer’s earlier explanation, Sackar returned to the Hong Kong affair again (p.360; p.509) to impute a non-existent international complexity and sophistication to Dwyer’s activities.

Abusive? Sackar, in the context of Dwyer’s [lack of] understanding of
the substance of letter of offer he received from the CBA:

Sackar: “You could read English in 1984? (1991a: 295B)
“You understood the mathematics involved in the examples given,
didn’t you? “

Dwyer: I did not.

Sackar: “You have no difficulty adding or multiplying or subtracting in
1984, did you? … or dividing?” (p.298) And so on.

Diversionary and abusive? Sackar to Dwyer (1991a: 146):

Sackar: “I see, Mr Dwyer, have you spoken to Mr and Mrs Rahme [also
foreign currency loan litigants against the CBA]?

Dwyer: “No.

Sackar: “Do you say that on your oath? Would you like to reconsider?
Have you spoken to …?

Dwyer: “I have seen Mrs Rahme.

Sackar: “Did you speak to her over the weekend?

Dwyer: “I did see Mrs Rahme.

Sackar: “Did you speak to her over the weekend?

Dwyer: “Yes I did.

Sackar: “Thank you. Why did you say no when I first asked you?

Dwyer: “Well, it’s a personal matter.

Sackar: “A personal matter? She and her husband are in the back of the
court at the moment?

Dwyer: “That is correct.

Sackar: “Did you speak to them about your case?

Dwyer: “No.

Sackar: “Why not?

Dwyer: “I’m not supposed to talk about my case.

Sackar: “Did you seek them out or did they seek you out? … Did you ring
them? … And did you go to their place or did they come to yours? … Over the telephone?

Dwyer: “Correct.

Sackar: “How many times?

Dwyer: “Once.

“Which day?” And so on.

Sackar had already previously impugned the hapless Rahmes (1991a: 36). Having again exhausted the possibilities of their connection with Dwyer, he then moved abruptly to another matter.

For a brutal instance of abuse, hear Sackar cross-examining Baird (1991a: 478).

Sackar: “By the way, do you feel at all responsible for Mr Dwyer going into a foreign currency loan with the Commonwealth Bank?

Baird “No, I don’t feel responsible

Sackar: “Completely a clear conscience?

Baird “Yes, I’m completely aware of the tragedy, both the family tragedy and the financial tragedy [Dwyer’s wife was then (and remains) in a coma until her death in 2006].

Sackar: “I’m not asking about that.”

Manipulative? There is a consistent procedure applied by Sackar.
Representative of this procedure is Sackar to Baird (1991a: 490):

Sackar: “Do you recall [D W Carroll, principal of financier International Currency Services] showing you graphs and pointing to the history of the Swiss franc and how it had moved?

Baird “No, but I am pretty certain that there was no discussion as to

Sackar: “And him saying that the history indicated a risk which could not
be predicted as to what would happen in the future?

Baird “He didn’t say that.

Sackar: “You are quite certain he didn’t say that?

Baird “Absolutely.

Sackar: “That of course was something you already knew, wasn’t it?

Baird “What?

Sackar: “That no one could predict where the rates could go in the future?

Baird “No, no, in my view …” [Sackar interrupts]

The following examples are also representative of a process of manipulation and they substantively go to the nub of the matter. They refer to recollections of the crucial meeting of Dwyer and Baird with Messrs Les Savell and Mark Fuller on 1 August 1984. Sackar to Dwyer (1991a: 327-330):

Sackar: “You recall [Savell] saying something like ‘If a customer did not have a natural hedge which is where the person has a business which is generating income in the foreign currency that they are seeking to borrow there would be an exchange risk’?

Dwyer: “No, I don’t recall him saying that.

Sackar: “That is something you knew though?

Dwyer: “Not at all.

Sackar: “You were there to have things explained?

Dwyer: “That’s correct. He didn’t explain them in that context. … I recall
Mr Savell saying that the ideal currency to borrow was the Swiss
franc because it had the biggest cushion against the Australian

Sackar: “You of course, having asked for Swiss francs …?

Dwyer: I hadn’t …

Sackar: “Do you deny that he said ‘similarly, if the Australian dollar
depreciated against the foreign currency, then the amount required
to repay the loan would increase’?

Dwyer: “He didn’t say that.

Sackar: “You came away from this meeting with an impression that fluctuations were going to be – what?

Dwyer: “No more than 5 per cent.

Sackar: “You regarded what – Mr Savell and Mr Fuller as guaranteeing
that, do you?

Dwyer: “I relied on their advice.

“Sackar: I want to suggest that [Savell] said to you that there was no limit
as to how far exchange rates could move over time?

Dwyer: “He did not.

Sackar: “You deny it?

Dwyer: “I deny it.

Sackar: “I also suggest that he gave an example of the Swiss francs and looked at approximately a rate of 2 to 1 saying: ‘If it moved to 1 to 1 the amount of Australian dollars required to repay the loan would double’?

Dwyer: “I have no recollection of such a statement.

Sackar: “I want to suggest to you that he said that ‘Such a movement indicated the way in which the risk arises and that if the customer proceeded with this type of facility it was a risk that that (sic) the customer had to accept’?

Dwyer: “He did not saying of that drift whatsoever (sic).

Sackar: “He also talked to you about parity adjustments?

Dwyer: “He did not.

Sackar: “You didn’t need any explanation of that, did you?

Dwyer: “I know what they are today.

Sackar:“It wasn’t something that you went along to particularly discuss,
was it?

Dwyer: “We went along …

Sackar: “Mr Dwyer; please.

Dwyer: “That’s exactly the truth, Mr Sackar.

Sackar: “Look Mr Dwyer, can you please try and address the question. Do
the best you can this time.

Dwyer: “I’m trying to at all times.

Sackar: “Would you please tell us what exactly Mr Savell said about this 5 per cent.

Dwyer: “I think I’ve already answered that question.

Sackar: “Are you able to tell us?

Dwyer: “No. I’m only going to repeat myself.

Sackar: “I want to suggest to you you came away from this meeting with a
misunderstanding, would you agree?

Dwyer: “A misunderstanding of the risks, for sure.

Sackar: “A misunderstanding of what I suggest Mr Savell said to you?

Dwyer: “Not at all.”

On the same theme, Sackar to Baird (1991a: 578ff.):

Sackar: “I suggest [Fuller] put to you something like this, ‘Hedging is available to eliminate the risk at any point while you are exposed. Do you recall that?

Baird: “No, I don’t.

Sackar: “He said then, ‘If you find the exchange rate is moving against you
you may decide after it reaches a certain point that it is better to
pay the cost of hedging and eliminate any further risk rather than
letting the exposure continue’?

Baird: “I don’t recall that.

Sackar: “But you understood that that was always at the choice of the borrower, to intervene in his interest in that way?

Baird: “No, not in pragmatic sense.

Sackar: “I want to suggest to you that he then said something like this, ‘If you do that, namely hedge, you would be locking in the loss up to the point of hedging’?

Baird: “’Locking in the loss,’ I don’t remember that.

Sackar: “Did you listen to me? … I don’t want to keep repeating myself?
… Would you listen please?

Sackar: “If the exchange rate starts to go against you, you should have some idea in mind of how far you would be prepared to let it go before hedging?

Baird: “[Fuller] didn’t say that. That is not my recollection.

Sackar: “Did he say anything like it?

Baird: “Yes, he said, ‘If there’s a minor fluctuation that is against you, even if you hedge later on in the contract you will still be better off  because if you average the interest rate and the fluctuation and compare it to the domestic interest rate you will be better off.

Sackar: “You must have been having to blink your eyes to see whether or
not you were talking to Mr Looke [Dwyer’s previous accountant,
and an earlier (ill-informed) advocate of foreign currency loans
denominated in US dollars] or Mr Fuller at this meeting, surely?

Baird: “No. No, it was confirmation of the understanding that we had at
the time.

Sackar: “I want to suggest the truth is quite the contrary to what occurred
at this meeting?

Baird: “I don’t agree.

Sackar: “And that time and emotion have completely confused your
recollection of what Looke had told you and what you can recall of
this meeting?

Baird: “No, I don’t agree.

1 - 2 - 3 - 4 - 5

REAL Freedom Library

History of Banking Fraud: The Coming Battle By M. W. WALBERT

The Coming Battle documents from Congressional records, newspaper reports and writings by the founding fathers and others a chronology of events long forgotten that shaped our fledgling nation from 1776 to 1899. Read about the manipulation of our money and its supply, the intentional creation of recessions, depressions and panics, manipulation of the stock markets, and the demonetization of silver.

Secrets of the Federal Reserve by Eustace Mullins

Eustace Mullins' carefully researched and documented treatise picks up from Walbert's expose' of control of the money supply and the economy and brings it to the mid 1980's.

 The World Order by Eustace Mullins

How control of the world's money has inexorably led to an ever tighter grip on control of the world's people.

Brave New World by Aldous Huxley

Huxley presents a dystopic view of a future in which mind-control creates a harmonized society stratified into classes suitably manipulated and deprived to carry out work tasks with a hive mentality. A foreign element is inserted when a high ranking Alpha brings a Native American from a Reservation and a new perspective on freedom gnaws at the fabric of the propaganda matrix.

Propaganda by Edward Bernays

Walter Lippmann's book, Public Opinion, published in 1922, detailed the study in which he and Edward Bernays were involved while in London during the First World War. It had to do with painting pictures inside people's heads, which were cunningly and deliberately designed by expert craftsmen to mislead not only individuals but entire societies.

Pawns in the Game by William Guy Carr

This is the classic expose' of the New World Order from a Commander in the Canadian Navy through the first half of the 20th Century. Commander Carr was introduced to the Hidden Hand early in his life and pursuing its mysteries became a lifelong mission.

Social Credit by CH Douglas

In every country of the world the global financial system has repeatedly been brought to the Bar of Public Opinion as the chief factor in world unrest, and there is little doubt that the jury of We the People has confirmed the Verdict somewhat rhetorically expressed by Mr. William Jennings Bryan in his famous election speech: "The money power preys upon the nation in times of peace, and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. It denounces, as public enemies, all who question its methods, or throw light upon its crimes. It can only be overthrown by the awakened conscience of the nation." Social Credit by C.H. Douglas can clarify the issues from which we can move forward to create a financial system that is fair and equitable.

Final Warning: A History of the New World Order by by David Allen Rivera

David Allen Rivera has assembled a very carefully written history that can serve us well. To have been ignored in the history books, by the colleges and universities, the print and electronic media, and the entire national and international discussion shows their power to control the flow of information as much as they control the flow of money. What they intend to do with this power and influence should be one of the most vital topics of conversation.

An Independent Investigation of 9-11 and its Zionist Connection by Dr. Albert Pastore

History provides patterns that we can learn to recognize so that we can avoid them.  Properly presented, history provides any of us with invaluable tools to help us see behind the illusions.  No one who is paying attention to the patterns and their application to today's events would fail to miss the signals or the dog that fails to bark.

Uranium Wars by Leuren Moret

How control of the world's people has inexorably led to wider use of depopulation methods which include spreading radioactivity in food, water, air, and the human genome.

Taking Back Your Power by Allen Aslan Heart

WHAT CAN YOU DO? Stop playing THEIR game. Take back your power. Stop paying taxes that are not legal or lawful. Stop paying bills you don't really owe. Debt Elimination! Stop using THEIR money. There ARE ways if you open your mind and look for the gaps in their fences that keep the sheeple in their pasture. Are you chattel or a real person? You are the one who makes that choice.

Our experienced debt elimination service professionals have been helping people with debt elimination, tax freedom, and credit repair for over ten years. For more information click here. Get rid of debt! Debt Elimination is Real Freedom! Get out of debt and get to know REAL Freedom.

You can't have something for nothing,
you can't have your freedom for free.
You won't get wise with the sleep still in your eyes,
no matter what your dreams might be. - Rush

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Your Credit File Rights

For debt elimination to be successful you must know your rights. Get out of debt! Eliminate debt NOW! Eliminate Credit Card Debt!

Zombie Debt: Debt is Hard to Kill

There's a hot new growth industry: companies that buy ancient bad debts for pennies and squeeze you to pay. Here are debt elimination ideas how to get them off your back. Eliminate debt! Get out of debt now! Eliminate Credit Card Debt!

Sleazy New Debt Collector Tactics

It may not be your debt, but it could be your problem. Collection agencies are bullying blameless consumers into paying debts they never owed. Eliminate debt and be free. Get out of debt! Eliminate Credit Card Debt! Debt Elimination is the basis of Real Freedom!

Debt Collection Practices: When Hardball Tactics Go Too Far

Dealing with a debt collector can be one of life's most stressful experiences. Harassing calls, threats, and use of obscene language can drive you to the edge. Debt elimination is the solution. Get out of debt! Eliminate Credit Card Debt! Debt Elimination is Real Freedom!

An Outcry Rises as Debt Collectors Play Rough

The rise in American consumer debt has been accompanied by a sharp increase in complaints about aggressive and sometimes unscrupulous tactics by debt collection agencies, a phenomenon that has government regulators increasingly concerned. Debt elimination removes any advantage they claim. Get out of debt! Eliminate Credit Card Debt! Eliminate debt now!

Debt Collection Puts on a Suit

As consumer loans hit an all-time high, the industry gets more sophisticated. That means that debt elimination skills must are even more important. Eliminate Credit Card Debt! Get out of debt!

Bad Debt Expense and Allowance for Bad Debt
Bailout for the People! A Bailout for You!
Bankruptcy Questions and Answers  
Citizens Economic Stimulus Plan - Stop Paying Credit Card Debt
Dealing  with Debt Collection  
Debt Elimination Cease and Desist Communications Letter
Debt Elimination Identity Redemption Information Pack
Debt Elimination: Title 31 U.S.C. 9304-9308
Debtors Rights in Dealing with Debt Collectors
Discharge Almost Any Debt with Proper Use of the UCC
Eliminate Credit Card Debt by Novation
Free Credit Repair Consultation
Get Debt Collectors Out of Your Life!
How I Clobbered Every Bureaucratic Cash Confiscatory Agency Known to Man
Judgment against Bill Collector Violating FDCPA
National Arbitration Forum’s Wall of Secrecy Begins to Crumble
Pretexting: Your Personal Information Revealed
Signature Without Liability
Statute of Limitations for Debts, Judgments and Taxes
Sui Juris: The Truth in the Record
Supremacy Clause Article. VI and Federal Preemption
Using Restrictive Endorsements to Settle Debts
Using the Fair Debt Collection Practices Act Against Collectors
Vacating a Judgment in Debt Elimination
Wolpoff & Abramson Legal Defense
Your Right to Validation of Debts

Plant Magic is Organic Gardening Nature's Way

Accelerated Equity can help you own your home in half to one third the time and save many thousands of dollars. Speed equity growth and get out of debt now!

House of Cards: Why home prices are about to plummet--and take the recovery with them. Debt elimination is the basis of real freedom. Get out of debt. Don't delay. 

Geopolitical struggle between the US / UK and the rest of the world is weakening the US Dollar and portends devaluation and depression soon. Get gold and silver.

The real war is in the currency markets. That was why 9-11: to draw America into deficits and war. Get rid of debt. Get REAL money! Get gold and silver.

Debt Elimination is Real Freedom
Accelerated Mortgage Payoff - Eliminate Credit Card Debt - Eliminate Student Loans - Mortgage Elimination - Tax Freedom - Avoid the Draft  -  Asset Protection - Credit Repair - Stop Foreclosure - Earn Real Money - Accelerate Equity - Eliminate Debt - Get out of Debt - Bailout for the People!

© 2007, Allen Aslan Heart / White Eagle Soaring of the Little Shell Pembina Band, a Treaty Tribe of the Ojibwe Nation