Why We Should Seek To Avoid Using The Usury Elites'
Banking System AND Use Our Own 'UsuryFree' Time Currency SystemBy Tommy-Usury: Free
The Cyberclass Network
in co-operation with The UsuryFree Network
urges readers to read the following message and take
action NOW ...
Participating 'usury' banks in the international banking cartel
artificially make a company such as Enron look profitable, aquire ownership,
sell out at the top, and then let the public take the fall. Enron is one of
many 21st Century corporations pumped up by big 'usury' banks. Let's stop
supporting the Usury Elites' Group of Companies. More details at:
J.P. Morgan Chase & Co.; Citigroup Inc.; Credit Suisse First Boston
USA Inc.; Canadian Imperial Bank of Commerce (CIBC);
Bank of America Corp.; Merrill Lynch & Co.; Barclays Bank PLC;
Deutsche Bank AG and Lehman Brothers Holding Inc. are all big banks, and they
financed a brand new entity that "bought" otherwise unsellable Enron assets,
to pump up Enron's bottom line.
Amazing ..... it's time that we all take the time to understand this
bizarre game of 'usury' economics and how we are being conned by the Usury
Elites. Then, look at the alternative of using your own 'usuryfree' time
currency of hours and minutes for FREE instead of relying on their
'usury-bearing' orthodox currency of dollars and cents and agreeing to pay
them a FEE - correctly called 'usury.' Visit the 'UsuryFree' Time Currency
Cyberclassroom at this URL:
www.cyberclass.net/ufoh.htm. Also spend some
time at the Barter/LETS Cyberclassroom:
www.cyberclass.net/bartable.htm and the SDI (Self Directed Income)
www.cyberclass.net/sditable.htm so that you
will have an opportunity to learn 'what you didn't know you didn't know.'
Additionally, I refer readers to an article on page A24 of The Wall
Street Journal, Tuesday, April 9th, 2002 entitled: 'Argentines Improvise
Social Safety Net' wherein Pamela Druckerman writes: 'Cemento, one of
the many barter markets have popped up in Buenos Aires as the economy
worsened, has recruited some 50 medical professionals - including dentists,
orthodontists, gynecologists and psychiatrists - to accept barter-club
'credits' in lieu of payment. Club members accumulate the credits by swapping
things like clothing or housefhold goods, says organizer Carlos del Mazo,
himself a lawyer who supplements his income by teaching tango dancing.'
(These barter-club 'credits' ought to be
correctly referred to as a 'usuryfree' community currency. Likewise,
understand that these so-called barter 'credits' at indeed accepted as payment
because the Club members know they are backed with the integrity and honesty
of the person(s) offering the skills, talents, products and/or services.)
In the same article Pamela Druckerman verifies that joblessness or
unemployment is near 25%. Let's get our 'usuryfree' time currency database
expanded and launched so that it can serve us locally, nationally and/or
globally NOW !! Why should we wait until unemployment approaches 25% before we
launch our economic lifeboats?
To start the process of building the 'usuryfree' time currency
database go to The UsuryFree Network at this URL:
www.communityzero.com/usuryfree Register yourself with
communityzero.com and then enter The UsuryFree Network. Click on 'Shared
Lists' at the left side of the front page. Read the explanation of how the
'usuryfree' time currency functions. The click on the blue words 'Click here'
at the upper left corner. Click on one or more of the 'time traders' already
listed to see how they have completed their contact details with their
'offers' and 'wants' and any comments. Then click on 'Add List Item' at the
bottom left corner. A template permits you you to enter your information.
The only step left is for this 'usuryfree' time currency database to
be linked with a search engine so that we can find each other and engage in
trading locally, nationally and/or internationally. Our only commitment is to
be open to engaging in trades whereby we cover our wholesale costs with cash
and accept a portion of our profit margins with 'usuryfree' time currency.
Until we have our 'usuryfree' time currency database set up for online
trading we are using UFOH 'UsuryFree Online Hour' paper notes to trade within
circles locally. It is essential to understand that money is simply a 'promise
to pay' or an IOU or in this case a 'time token' backed by your honesty and
integrity to deliver your skills, talents, products and/or services to others
in the database. View the front and back of these notes by clicking these
www.cyberclass.net/ufohback.jpg Those who
would like a master copy of these UFOH's for photocopying for peronal use
during this interim period are invited to forward your request with a 'gift'
or 'donation' of $13.00 to: The Cyberclass Network. P. O. Box 9333, Ottawa,
Ontario K1G 3V1
Readers are invited to visit this URL:
www.look.com/lets/index.asp where there is mention
of UNILETS. Since there are numerous communities all over the world using the
'usuryfree' LETS (Local Employment Trading System) software it is timely
indeed that we consider inviting each local LETSystem to join our new
'usuryfree' time currency database. It is obvious that 'usuryfree' time
currency is fast evolving to become the universal currency of choice for the
21st Century since it is designed to optimally serve us locally, nationally
and internationally. In the meantime, let's increase our database quickly. Add
you name and invite those in your circle of influence to do likewise and
encourage then to duplicate your efforts so that we can expand the network
www.look.com/lets/index.asp can already
search for LETSystems from all over the world. Perhaps
will be ready and willing to launch our 'usuryfree' time currency database and
help us to facilitate local, national and international trades in the
As we find more and more people who are willing to accept 'usuryfree'
time currency we will be able to accept more and more time currency and
thereby become less and less reliant on the orthodox 'usury-bearing' federal
money. By using less and less of the 'Usury' Elites' money we will be able to
withdraw our support and NOT fund their 'War Machine' which is deviously
designed to usher in their New World Order of economic slavery.
Edward Griffin's book as mentioned above is a great resource to help
readers understand how we are all being enslaved by the design flaw of
'usury.' Additionally, there are numerous other worthwhile resources available
at The Cyberclass Network
www.cyberclass.net and elsewhere. Let's
encourage the mainstream media and our formal institutions of higher learning
to network the 'universal truth' about how a 'usuryfree' time currency can
save us from economic enslavement by those who seek to usher in Their New
By KRISTEN HAYS, Associated
HOUSTON - Nine investment banks
financed lucrative schemes that helped Enron Corp. maintain its pre-collapse
image as a profit powerhouse, according to attorneys who added the banks to a
shareholder lawsuit Monday.
William Lerach, the lead attorney in the case, said the
banks' knowledge of the questionable partnerships and other transactions gave
them an inside view of Enron's financial condition as they sold securities to
The 485-page amended complaint was filed Monday morning
in the Houston federal court handling the case, the University of California,
the lead plaintiff, said.
"Every bank bears significant complicity for their
involvement," Lerach said.
The banks named in the suit are J.P. Morgan Chase &
Co.; Citigroup Inc.; Credit Suisse First Boston USA Inc.;
Canadian Imperial Bank of Commerce (CIBC);
Bank of America Corp.; Merrill Lynch & Co.; Barclays Bank PLC; Deutsche
Bank AG and Lehman Brothers Holding Inc.
The partnerships and transactions, backed by Enron
stock and in part developed and funded by the banks, allegedly hid debt and
inflated profits. Their ability to go unnoticed depended on a high stock price,
since drops in shares triggered debt payments that would require Enron to issue
more shares and reduce shareholder equity.
Enron shares started slipping from a high of $90 in
August 2000, later invoking those triggers. It fell to less than a dollar by the
time Enron descended into bankruptcy Dec. 2.
The suit also alleges that Kenneth Lay, Enron's former
chairman and chief executive, sold $180 million in company stock in the three
years leading to Enron's collapse, not the $101 million noted in public filings.
The $25 billion lawsuit originally was filed in
December on behalf of large investors, which lost millions of dollars when Enron
Original defendants included current and former Enron
officials who sold more than $1 billion in stock from October 1998 through
November last year and Arthur Andersen LLP, Enron's former auditor.
Lerach said subsequent investigation pointed to
liability on the part of banks that were Enron's lenders and underwriters before
alleged accounting abuses exposed last year fueled the company's implosion.
Citigroup spokesman Dan Noonan and Credit Suisse
spokesman Pen Pendleton declined comment Sunday night. Other banks didn't return
calls for comment.
New defendants also include two law firms that advised
Enron on the partnerships and financial deals, Vinson & Elkins in Houston and
Kirkland and Ellis in Chicago, and Andersen Worldwide.
Vinson & Elkins declined comment on the lawsuit. But
the firm said in a statement that it remains confident that when the facts are
known, "it will be clear that Vinson & Elkins properly performed its
Settlement talks with Andersen are continuing, but the
firm's ability to pay has been questioned. Andersen has lost at least 132 public
clients this year, most after the firm was indicted last month for shredding
documents and deleting computer files related to Enron audits.
"Given what looks like the precarious
position and financial condition of Andersen, it's not at all surprising they
would look at other deep pockets as a strategic matter," said
Henry T.C. Hu, a corporate law professor at the University of Texas School of
Allegations in the lawsuit include:
In December 1999, Merrill Lynch helped create LJM2, one
of the partnerships credited with helping fuel Enron's downfall. Enron needed an
entity to buy company assets to pump up year-end profits, so Merrill Lynch, CIBC,
Deutsche Bank, Credit Suisse and Lehman Brothers invested about $14 million
while J.P. Morgan offered a $65 million loan.
Run by Andrew Fastow, Enron's former chief financial
officer, LJM2 used the money to buy four Enron assets that the company hadn't
otherwise been able to sell. LJM2 sold those assets back to Enron in 2000.
Enron invited partnerships or entities connected to
J.P. Morgan, CIBC, Citigroup, Deutsche Bank, Credit Suisse, Lehman Brothers and
Merrill Lynch to invest $150 million in LJM2 with a promise of a return of 30
percent or more with Fastow doing deals on one side of the table and Enron on
In December 2000, J.P. Morgan-controlled Mahonia Ltd.
in the Channel Islands near England bought gas and oil contracts from Enron and
later sold them back to the company, which counted the deals as revenue.
From late 1999 through early 2001, Citigroup used a
Cayman Islands subsidiary called Delta to swap future returns on investments
with Enron. The lawsuit said the $2.4 billion deals were loans because Enron
received money up front and was obliged to repay it over five years, yet Enron
posted the loans on its books as "assets from price risk management."
Credit Suisse in 2000 gave Enron $150 million using
trades in derivatives. Enron could repay the money over two years, and payments
would vary with the price of oil. Enron posted the money as "assets from price
risk management," while Credit Suisse counted it as a loan.
In December 2000 CIBC formed a partnership with Enron,
"Project Braveheart," in which CIBC invested $115 million in return for a 93
percent return on Enron's profits from a video-on-demand deal with Blockbuster
Inc. Enron posted $110 million in profits from the deal. But the lawsuit said
Enron guaranteed CIBC's investment, and the video-on-demand deal was scuttled in
Readers are invited to Review These Thirteen Lessons
posted at The Cyberclass Network:
Consider this question: 'Why are you putting up
your assets and asking the banks to lend you their dollar currency for a FEE
(usury) when you can now create and use your own 'usuryfree' time currency for
Tommy-Usury: Free otherwise known as
Tel: 1.613.746.9703 Fax: 1.613.746.5387