Forclosure Case - First National Bank of Montgomery V. Jerome Daly

In the First National Bank of Montgomery V. Jerome Daly case, Jerome Daly challenged the First National Bank of Montgomery forclosure of his home. The judge, Justice Martin V Mahoney, ruled in favor of Jerome Daly, and Mr. Daly got to keep his home.

Justice Martin V Mahoney personal memorandum:

In the judge's personal memorandum he recalled that "the Plaintiff (banks president) admitted that in combination with the Federal Reserve Bank did create the money and credits upon its books by bookkeeping entry. The money and credit first came into existence when they created it. Mr Morgan admitted that no US Law or Statute existed which gave him the right to do this. A lawful consideration must exist and be tendered to support the Note. The Jury found that there was no lawful consideration and I agree." He also poetically added: "Only God can create something of value out of nothing."

His decision was based on the fact that, according to Modern Money Mechanics, a Federal Reserve publication that outlines the practices of the federal reserve banks, the"[Banks] do not really pay out loans from the money
they receive as deposits. If they did this, no additional
money would be created. What they do when they make
loans is to accept promissory notes in exchange for credits
to the borrowers' transaction accounts...Reserves are
unchanged by the loan transactions. But the deposit credits
constitute new additions to the total deposits of the
banking system."

(Modern Money Mechanics, p.6)

"...even the legal manipulators and corrupted high court judges can't get around this decision, figuring it better to just let the case of the First National Bank of Montgomery V. Jerome Daly die in the cold Minnesota snow along with Justice Martin V. Mahoney who was found suspiciously poisoned to death six months after he issued the ruling that exposed the illegality of what has been called the Queen of England's illegal banking scam."

Is anybody aware of this?

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