Monday, March 15, 2010

The U.S. Treasury has no problem paying for your own personal bank

Posted by Peter Rugg on Mon, Mar 15, 2010 at 7:00 AM

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If Uncle Sam can bail out Citibank out they can bail out Denny Hardin
Denny Hardin wrote more than $160 million in bonded promissory notes to save people's homes when the real estate market collapsed. That sounds good until you realize that he wrote the notes on the U.S. Treasury Department's account numbers and no bank will accept them.

Hardin, the subject of last week's Pitch feature story ("Don't Tread on Him"), is just the latest in a long line of guys claiming they can erase debt using a secret account -- a seemingly bottomless one -- that the Fed assigns you at birth. It got popular enough that in April 2009 the U.S. Treasury issued a fraud alert about "scams ... directed towards banks, charities, individuals, and companies." So why isn't anyone being arrested for it?

First, I called the local Treasury office, but they redirected me to Washington, D.C., where I spoke with four separate public relations officers and two agents, each one recommending the other as someone who might know about investigating the banks. But no one had any ideas.

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Why aren't the feds cracking down on the regular Joes who open banks?
​No one could explain how a two-decade old operation like J.W. Patterson's Shadow Mountain Bank, which fit the Treasury fraud alert description to the letter and wrote bonds to get the Montana Freemen out of jail, was able to operate with impunity.

Even Hardin, now in jail on a probation violation unrelated to his bank, has yet to be charged with any form of fraud.

So what's going on here? It's possible there's an ongoing investigation into these banks that the feds just couldn't talk about. Maybe they just consider pumping hundreds of millions of dollars in fraudulent bonds into the banking system too small to be bothered with. But hey, maybe it turns out Denny Hardin's been right all along.

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Very good facts I was searching Bing for one thing and found this weblog of yours. By the way, is there any way to subscribe to new posts?

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Posted by bowflex tc5000 treadclimber on October 7, 2010 at 5:40 AM

Peter Rugg, is no writer folk's he takes your words and turns them into lies for his benefit. He has slandered the good name of Mr. Patterson and Shadow Mountain bank with his slander, A suit will follow. He twised the words of Mr. Patterson around so that it looks as if he has committed some sort of crime, but in talking to the Treasury or others he can not come up with one law that states and or proves beyond a dought that Mr. Patterson is guilty of anything.

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Posted by PAT on September 25, 2010 at 1:59 PM

Denny's did not use any U.S. Treasury account numbers. Keep researching maybe you will eventually print the truth. No charges have been filed because he has not broken any laws. Even the US codes discuss private banks which is what his is. Just because the banks do not accept them does not mean they are not the one perptrating the fraud. It's not like it would be the first time.The bonds and notes on the Treasury website look nothing like Denny's and have been around since 2004.They are claiming to be agents of the Treasury, Denny has not.

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Posted by Melinda1 on March 16, 2010 at 6:44 AM
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