![]() This is of course my own short version of the case for the full case check the links if have posted below It was ruled that the mortgage contract was null and void on the basis that nothing of value had been loaned out to Daly since the money had only come into exists when the bank had created it. ![]() What makes this case interesting is that the jury and the justice of peace Martin.v Mahoney ruled in favour of Daly. To skip all the legal jargon what we can say is that Daly wanted to keep his house and the bank wanted to take his house since he had not made due on his mortgage payment however Daly challenged the banks legality to be able to do this as they had lended him nothing of value to begin with as the money was created out of thin air. The plaintiff was the First National Bank of Montgomery, which had foreclosed on Daly’s property for nonpayment of the mortgage, and was seeking to evict him from the property. ![]() The ruling took place in the Justice Court, in Credit River Township in Scott county Minnesota.Īccording to Wikipedia the case was as follows: An attorney named Jerome Daly was a defendant in a civil case in Credit River Township, Scott County, Minnesota, heard on December 9, 1968. In a court case on Decemthere was ruling that could have and should have had massive implications for the entire banking system.
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