Now would be an excellent time for someone to raise the defense of Jerome Daly vs First National Bank of Montgomery, Minnesota Dec 7, 1968. In this case Daly proved that the bank in question created the credit for a mortgage loan out of nothing by entering a credit on its books, ie there was no deposit in the bank to cover the loan. Daly also proved that this was standard procedure for Federal Reserve Bank members. Mr Morgan, the president of the plaintiff bank and a former officer with Bank of America, testified that this was standard procedure in the banking business and was allowed by Federal Reserve rules. He also was unable to cite any law which made this permissable under the Constitution and Laws of the United States.
The Judge (Martin V. Mahoney) and the Jury ruled in favor of Daly that since the loan itself was unlawful, the Note and Mortgage were unenforceable. The decision was never appealed and the Judge was killed six months later under suspicious circumstances (ie assassinated). I believe this incident was not forgotten by other Judges and explains why they are afraid o go against this corrupt banking system on fundamental grounds.