Promissory Notes

There has been an explosion on YT, Rumble, Telegram etc of people using/being advised to use prom notes to discharge tear off slip debts. This I would say is not necassarily the best way to go as the tear off slip is a voucher to discharge said debt. In fact if not done correctly could land you in jail &/or put you into serious debt - becareful that's all.

However if people are hell bent on using prom notes you WILL need to research BOE Act 1882 sect4 all on prom notes, CCA1974 sect 123 & get your head around what is being said, schedule 4A water act 1991, gas act 1986, electric act 1989, archbold book of quotations as well as anything else you can find.

Of the T&Cs that have been put on prom note, some have none (bad idea) I would add the following although its up to you. Modify the wording to suit you. Add or subtract what see you fit.

1. If this note is accepted the acceptance negates further obligation to give further discharge on this note
2. If this note is returned it is dishonoured through non-acceptance under BoE Act 1882 sect42, 43 & negates further obligation to give further discharge on this note
3. If this note is banked it negates further obligation to give further discharge on this note
4. If this note is not presented (fraud) at each collection point in time it negates further obligation to give further discharge on this note
5. If one collection point in time is missed it negates further obligation to give further discharge on this note
6. Upon final collection point in time this note must be returned indicating full discharge of said note is complete

Make sure these T&Cs are within the 4 corners (edges of the paper) of the prom note, in turn unboxed, ideally everything on 1 side of A4 - on 1 skin.

I cannot stress enough BECAREFUL. Happy prom noting.

LS

Bank of England finally admit the GBP is worthless:
https://www.bankofengland.co.uk/freedom-of-information/2016/25-february-2016

Disclosure:

Since the Bank of England’s (the ‘Bank’) foundation in 1694 the Bank has issued notes promising to pay the bearer a sum of money. For much of its history the promise could be made good by the Bank paying out gold in exchange for its notes. The link with gold helped to maintain the value of the notes, although the link was sometimes suspended, for example in wartime.

The link with gold was finally broken in 1931 and since that time there has been no other asset into which holders have the right to convert Bank of England notes. They can only be exchanged for other Bank of England notes. Nowadays public faith in the pound is maintained in a different way - through the Bank's operation of monetary policy, the object of which, by statute, is price stability.

The promise to pay does not have the same meaning as it did three hundred years ago. Nowadays, the ‘promise to pay’ holds good in perpetuity for the exchange of old series Bank of England notes which have been withdrawn from circulation, as well as mutilated Bank of England notes, provided that certain criteria are met.

Finally, in terms of the labour theory of value, the cost to produce a banknote is minimal, however, its real value lies in the value of the goods and services you can exchange it for.

In other words its the belief of the exchange that gives it 'value'. Value is just another concept. Ultimately its FIAT currency - worthless

If you have any worthless fiat currency that's making the place untidy, feel free to send it to me for safe disposal.

i promise to pay the bearer on demand the sum of....
FF your answer is a classic case of confirmation bias.

More aptly it's an example of how the house of cards stays up.  It stays up because people believe that others will think the currency has value. I don't think even LS really thinks it's worthless in real everyday life.

And that works, at the moment. For example a little while ago I went to the bank where I supposedly have money but really it's just ones and zeroes somewhere. All the same they handed over a bunch of banknotes in exchange, and I went down the road to exchange this paper for a motorcycle. Who's to say that didn't demonstrate perceived value?  The motorcycle is real and I wouldn't have it but for that bunch of paper.

So it works, at the moment.  But if everyone simultaneously started to doubt the value, what then? I don't know what better system could be used other than pure barter.

FF morning,

I will agree to a certain point when for eg, purchasing food that can help you survive until the next meal & so on, that's real value - meaningful.

Yes I will agree with your motorbike example but that's material.

What really pi*sses me off with things like billing CoS that give a 'bill' contract or not & state here's a bill pay it or else! C'tax is a good example, if by not handing over your sweat equity representation (FIAT) they go to thier fake courts find you guilty (liable) if you hold title to land they can & will steal it from you, thugs (coppers on behalf of council) come round, kick you out of your own home. That's real enough but the main reason why is fake. People are put through all sorts of hell over nothing.

LS

The Monumental Case of R v Robert 'Bob' White

https://youtu.be/zq0uR0Qbg2U

Some how i don't think the police will learn their lesson!

OK I've 'bit the dust', gone against my thoughts & used a prom note, it goes against my principles but after reading sect4 BOE1882 several times have changed my mind - sort of, will let you know in due course.

LS

your signature creates the cash value..... from Ceylon:

https://odysee.com/...promissory-notes---money-out-of-thin-air:f8a22eaafb088e94e79f0bd336cd15e73c92bbcb

I have been away doing some research & with some help have managed to get more info on prom notes. I will add my extra info over the next week or so

please read very carefully. Is it the case that even though you sent your prom note & its NOT been returned, its still NOT delivered or finalised - the 'transaction' is NOT complete?

The clearing bank will get in touch & state.... this gets you perplexed?

You have sent your prom note in but THEY have not cashed it properly, (they may still have it & are trying to generate MORE wealth through fractional reserve lending?) THEY have sent a photo copy or scanned it & sent to clearing bank but the bank will NOT accept it because its not the original & will contact you directly.

You are going to have to get in touch with utility Co & press hard to get THEM to deliver to the clearing bank, also get that clearing bank to push too (I'm not saying this will happen, just it might, you are going to have to deal with your situation as it arises).

https://www.legislation.gov.uk/ukpga/Vict/45-46/61
21 Delivery.

(1)Every contract on a bill, whether it be the drawer’s, the acceptor’s, or an indorser’s, is incomplete and revocable, until delivery of the instrument in order to give effect thereto.

Provided that where an acceptance is written on a bill, and the drawee gives notice to or according to the directions of the person entitled to the bill that he has accepted it, the acceptance then becomes complete and irrevocable.

(2)As between immediate parties, and as regards a remote party other than a holder in due course, the delivery—

(a)in order to be effectual must be made either by or under the authority of the party drawing, accepting, or indorsing, as the case may be:

(b)may be shown to have been conditional or for a special purpose only, and not for the purpose of transferring the property in the bill.

But if the bill be in the hands of a holder in due course a valid delivery of the bill by all parties prior to him so as to make them liable to him is conclusively presumed.

(3)Where a bill is no longer in the possession of a party who has signed it as drawer, acceptor, or indorser, a valid and unconditional delivery by him is presumed until the contrary is proved.

More info on prom notes in general to follow.

regarding prom notes I ATM beleive this YT channel may offer some good info, he comes across as genuine & I have no reason to doubt:
https://www.youtube.com/user/gez1967gall

although he did pull his channel & then put it back?? strange.

If you can find the important vids he did on prom notes including the anecdotal 'proof' it works then you may be on to a winner. The process he uses is pretty much the same as I have used but I have used a different lay out of prom note to him, the wording is similar, plus I have taken on board the info provided by Michael Tellinger, his prom note vid is on YT for you to find.

more on prom notes:
http://steven-kirk.com/using-a-promissory-note/

Michael Tellinger - Paying with Promissory Notes
https://www.youtube.com/watch?v=eLoIpQYeb7g

Purely FYI:
https://pbnba.com/all-debts-today-are-discharged-by-promissory-notes/

All Debts Today are Discharged by Promissory Notes

Posted on February 9, 2016

All debts today are discharged by promises to pay in the future with promissory notes.  All Federal Reserve Notes, DOLLARS, are non-registered securities and promise to pay in the future. The Private Bankers National Banking Association, PBNBA, preprocessed promissory notes are considered as money under Federal Law, Public Policy, International Treaty Law, and Common Law. Federal Reserve Notes or FRNs are secured by the utility of a live man’s energy or labor as collateral to the United States Corporation National Debt.

I have just been on the bank of englands website and it says that credit/debit cards and cheques are NOT legal tender so when bills come through giving ‘ways to pay’ and these are mentioned we cant use that method as it would be fraud! So they are demanding us to create fraud like they are!

Sharpysparky wrote:I have just been on the bank of englands website and it says that credit/debit cards and cheques are NOT legal tender so when bills come through giving ‘ways to pay’ and these are mentioned we cant use that method as it would be fraud! So they are demanding us to create fraud like they are!

A creditor is free to accept any form of payment that they choose.  The only special thing about legal tender is that if they are offered it they can't sue for non payment.

Why do you think it is fraud to pay by other means?  In your view who is guilty, the person paying or the person accepting payment?

flyingfish wrote:

Sharpysparky wrote:I have just been on the bank of englands website and it says that credit/debit cards and cheques are NOT legal tender so when bills come through giving ‘ways to pay’ and these are mentioned we cant use that method as it would be fraud! So they are demanding us to create fraud like they are!

A creditor is free to accept any form of payment that they choose.  The only special thing about legal tender is that if they are offered it they can't sue for non payment.

Why do you think it is fraud to pay by other means?  In your view who is guilty, the person paying or the person accepting payment?

if cheques etc are not legal tender and i were to pay via this method then surely we both would be committing fraud?, they are accepting something that is not legal tender and i am using something that is not legal tender, whereas a promissory note is legal tender as this is what is printed on the pieces of paper in our pockets, known to many as money?

i am not being belligerent or claiming to know it all or cause hostility/arguments between us, the way i have interpreted it may be wrong and if so education is what i need and will accept with open arms

SS

Sharpysparky wrote:I have just been on the bank of englands website and it says that credit/debit cards and cheques are NOT legal tender so when bills come through giving ‘ways to pay’ and these are mentioned we cant use that method as it would be fraud! So they are demanding us to create fraud like they are!

Its the 'promise' to pay is the key thing. From what I gather, the passing around of ink on bits of paper which state 'I promise to pay.....' is the key thing. This is where those of us discharging by endorsement may & I say - only may - have been slightly wrong, is the missing promise. 1ce the promise is made it should be game over?

In the early days others were doing this & getting a stalemate, the courts upped the stakes & coluded with the util Cos, so now THEY are getting thier double dipping oppertunity. The tearoff slip should have been enough but will have to see where this takes us? Its going to be down to knowledge & how well performance (confidence) is done if have to go to court.

May be am wrong but have told my G+L to go fook if prepay get in those meters are coming OUT! End of.

This is new testing territory for me I will keep all informed as I go.

LS

Sharpysparky wrote:I have just been on the bank of englands website and it says that credit/debit cards and cheques are NOT legal tender so when bills come through giving ‘ways to pay’ and these are mentioned we cant use that method as it would be fraud! So they are demanding us to create fraud like they are!

Its true a cheque is a BOE (its an instruction, still seen as an IOU because there is an admitted 'debt'. The cheque is not the actual 'cash' itself) - Drawer (You the author), Drawee (clearing bank - Lloyds, Tsb, Natwest etc), & the Payee (that's the PERSON NAME you right on the cheque)

Added: a cheque CAN be used as cash but in very limited circumstances such endorsing a cheque that represents a discharge from 1 PERSON to another via a 3rd party.

A owes B, in turn owes C (it has to be the same amount across the board eg £100), A gives B a cheque, B endorses cheque & gives to C, C then 'cashes' the cheque but the 'transfered' amount would actually go from A to C. In this case B would have treated the cheque as 'cash'.

Sharpysparky wrote:if cheques etc are not legal tender and i were to pay via this method then surely we both would be  committing fraud?, they are accepting something that is not legal tender and i am using something that is not legal tender,

The point is that it is not illegal to pay by any method mutually agreed between buyer and seller (or debtor/creditor). That's explained fairly clearly on the Bank of England page referred to earlier.

Sharpysparky wrote:whereas a promissory note is legal tender as this is what is printed on the pieces of paper in our pockets, known to many as money?

Also covered, only Bank of England bank notes are legal tender, not other forms of promissory notes. Although as already covered, a seller/creditor would be free to accept your PN if they wish just as they could choose to accept any other form of payment that suited them.

Anecdotal evidence those prom notes may actually work (obse4rve your own results with possible lack of evidence)? More research is required & there could be something good to come out of it all if these util CoS were honest (fat chance):
https://www.youtube.com/watch?v=0ssfDdu4Q2k

update on my situation:

The due date for collection has now passed & as per MY T&C's the obligation is now terminated to pay further on the prom note.

No contact what so ever from Util Co, so assuming ATM its a success but I suppose that can change?

Have had communiques to 'The Occupier', either returned or binned.

No door knockers a knockin' - all quiet.

Still early days.

LionsShare wrote:update on my situation:

The due date for collection has now passed & as per MY T&C's the obligation is now terminated to pay further on the prom note.

No contact what so ever from Util Co, so assuming ATM its a success but I suppose that can change?

Have had communiques to 'The Occupier', either returned or binned.

No door knockers a knockin' - all quiet.

Still early days.

Well its something LS, having crap through door to ‘occupier’ speaks volumes, good luck to you and hope this may be the way to go

SS

there is evidence in media & in my situation too, they are either ignoring the prom notes or simply trying it on, bullying me into 'paying'. NO of course, not again, this would be the 3rd time of 'paying'.

People becareful these util CoS are nothing other than bullying b'stards.

They are brokerages too (no different to insurance brokers):

https://www.utilitybidder.co.uk/utility-brokers/
https://engine.loveenergysavings.com/comparison/?affiliateId=127
https://britishbusinessenergy.co.uk/brokers-consultants/

for those looking for a short cut on prom notes then OK follow:

this is the best UK I can find, on YT there are plenty of USA examples even Michael Tellinger which is great.
https://www.youtube.com/watch?v=XbgqdHgIfNI

this link is for the reading material & its the titled 'manual book'. The process is VERY simple, all can ignore most of the preamble in the book. Just follow the process outline therein.
https://drive.google.com/file/d/1s8E1MLX45n8juUsuvRNdtmzerGmDFa5w/view

this will give a verbal description to save time on reading:
https://youtu.be/zFvFlnlvRds?t=374