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.........The Sovereign Nation of Shetland
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Banking

The single most dangerous system in the world today is the banking system. This cabal has control of the money supply worldwide and decides whether the world experiences prosperity or recession - the cycles of which enable it to suck the wealth of the world into its coffers. Together with its accomplices, the global corporations, it is enriched by war and disease and has no desire to bring equality to the world - on the contrary, it has a vested interest in promoting inequality and conflict.

It creates all the money in the world, controls its supply and charges interest on its loans. Your friendly High Street bank is in the business of creating money out of thin air and then charging you interest on it.

Here′s what a director of the Bank of England said about banking: "The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in iniquity and born in sin. Bankers own the earth. Take it away from them, but leave the power to create money, and with the flick of a pen they will create enough money to buy it back again. Take this power away from them and all great fortunes like mine would disappear, and they ought to disappear, for then this would be a better and a happier world to live in. But if you want to continue to be the slaves of the banks and pay the cost of your own slavery, then let the bankers continue to create money and control credit" Sir Josiah Stamp, Director, Bank of England 1928-1941.

From the Bank of England′s Quarterly bulletin, Q1, 2008, p. 103: ′Subject only but crucially to confidence in their soundness, banks extend credit by simply increasing the borrowing customer′s current account, which can be paid away to wherever the borrower wants by the bank ′writing a cheque on itself′, That is, banks extend credit by creating money′ (My emphasis).

On top of that, by a system of smoke and mirrors call 'fractional banking', banks are allowed to lend out multiples of their reserves. For loans to private customers that multiple is usually 12.5 times and for countries and large corporations there is no limit. That means they can invent money from 12.5 times what they actually have, up to limitless amounts - simply by making a few keystrokes on their computer.

′I′m afraid that the ordinary citizen will not like to be told that banks can and do create money. And they who control the credit of a nation direct the policy of governments and hold in the hollow of their hand the destiny of the people′. Reginald McKenna past Chairman of the Board of Midland Bank.

It is not in their interest for us to live within our means. We must be encouraged to ′need′ more and more and to demand it today, so that our credit cards remain maxed out and our loans and mortgages are as high as possible.

Because the banks create all the money in existence by making loans, but never create money to cover the interest, it is inherent in the system that a certain percentage of debtors must default. At this point the bank, having taken interest and repayments on money it created out of thin air, becomes the owner of property belonging to the borrower to the value of the ′loan′. Nice business.

Banks lend us something they did not have, charge interest on it, then demand our property if we cannot pay when they manipulate the economy into recession.

Mayer Amschel Rothschild's famous quote sums it up: "Give me control of a nation's money supply and I care not who makes its laws".

This whole edifice is totally unsustainable and must inevitably collapse. We believe we are now seeing its last gasps.

It is essential and urgent that something ethical and sustainable is put in its place. That system must be community owned, free of interest and must not be subject to manipulation to benefit a few.

The Sovereign Nation of Shetland will have sufficient resources to set up interest-free mortgages and loans. Apart from the money gained by not being part of the UK, the Shetland Gulde, a currency that always appreciates against other currencies, is a desirable currency to hold. Bonds may be issued to ensure the funds used for SNS mortgages and loans are always stable and not subject to international capital movements. The Bank of Shetland will provide the interface between Shetland and global markets and will have the power to protect the Shetland economy. Unlike our current banks, which are al private corporations, The Bank of Shetland is owned by the community.

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2011: Natwest Bank takes lone Shetland pensioner to the High Court to prevent him winding them up:
Stuart Hill had a long running correspondences with various banks and lenders. He was asking for evidence of a valid contract that would allow them to demand money in the way of bank charges, interest and repayments. After a six-month correspondence with Natwest Bank and their solicitors, and after they had not been able to produce such a contract, the inevitable conclusion was that they had acted fraudulently and consequently he would have a claim on them. Based on what they had been paid, with interest added at a rate they would have charged for an unauthorised overdraft, plus the profits they had made using his money, he put together a claim amounting to over 4.8 million. Although they did not dispute the figures and could not refute his arguments, they were very reluctant to pay. The most expedient way to deal with the problem was for him to issue a Statutory Demand. This is an official document that must either be paid or disputed within 21 days, otherwise he can apply to the court for the Bank to be wound up.

He served the document on the Bank and they sat on it for seventeen days before advising their solicitors - who were then left with five days to come up with a valid dispute. By the time they presented any kind of argument, the Statutory Demand had expired and Natwest were then forced to apply to the High Court for an order restraining him from taking action to wind them up. Before the case, Natwest offered him 2500 to stop him taking further action and in a meeting outside the court, their solicitors made a further offer of 4,500, which he refused.

He went into the court more in hope than anticipation and it may be no surprise that the court ruled in favour of the bank. The outcome may have been different had he been better able to argue his case, but at that stage his court experience was minimal. He went into it knowing he could not lose - either he would win the case, or the bank would have to come to the Lerwick Sheriff Court to get its costs - which it did. In that case alleged sheriff Philip Mann stepped completely outside his authority by declaring him bankrupt while point blank refusing to hear any evidence on jurisdiction. A similar case with RBS where he claimed 25.5 million dragged through the Court of Session for over two years before Lord Pentland was forced to fabricate an argument on behalf of the bank's barrister when she was unable to explain how Shetland was part of Scotland.

This is an ongoing saga that is developing in interesting ways. Watch this site and The Sovereign State of Forvik. Stuart's book Stolen Isles tells one part of the story.