Posts Tagged ‘Top Secret Bankers Manual’

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Gemini Research Group for Howard Grisold



This book has been scanned in.  The best way to read this book is to download and read with a PDF Reader.  Enjoy it!  Even if you are not a President or Vice-President of a Criminal Bank…

Here’s a quote from page 37:

The trick goes like this. The bank does not deposit the promissory note.  The bank or credit union records the promissory note or credit card purchase as an asset on the books of the bank or credit union and credits cash to balance the books.  The borrower got cash.  This is exactly what one bank auditor told Tom Schauf and admitted that this is a fraud and a lie.  At this time, the typical bank and credit union auditor will try and avoid explaining that the cash earlier credited is now deposited. The deposit is a debit to cash and a credit to a bank liability like a checking account or demand deposit account or savings account.  The new result is exactly what the Federal Reserve Banks have already admitted.  There is a new bank asset and a new bank liability.   The new asset came from the borrower and the bank liability means the bank owes money related to the new asset.