Finally, everyone worldwide needs a lesson in the mechanisms of fraudulent convertible debt. A
fraudulent convertible debt is a debt created by fraud that is converted into new ownership and used
by the perpetrators as investment capital. The most typical example is the billing you receive every
month for electrical service (at least in America this is true).
What appears to be a bill comes addressed to YOUR NAME in capital letters and your address.
Unknown to you, this “billing statement” isn’t really a true bill and it isn’t addressed to you. It is
addressed to a franchise of a governmental services corporation and the “statement” is actually a
voucher allowing you to cash in a “dividend” equal to the amount shown as due and owing– but of
course, you are never told this and you are never told how to fill out the coupon for credit. Instead, if
you don’t submit payment you are threatened with disconnection, and in this way, you are coerced
into paying the bills of a governmental services corporation’s franchise.
Of course, the utility company submits the bill each month directly to the “government” and gets paid
for servicing the franchise. That’s payment Number One. Then they send you a billing statement and
coerce you to pay it. That’s payment Number Two. They establish a “capital credits account” in YOUR
name and deposit your payment in that account. They then use that money as investment capital benefiting their utility company and prevent you from accessing the capital credit account you funded.
In some cases, the utilities are so crooked they set the “capital credits” aside and later claim that they
are “unclaimed funds” and abscond with them directly.
Fraudulent convertible debt always involves a double-dipping system in which a charge gets paid for
twice by different parties. In effect, it gets you, the consumer, both coming and going. You are on the
hook to pay for the “government’s debts” — so as a group you paid for payment Number One, and as
an individual you were forced to provide payment Number Two as well.
This is great information Diane On Friday.
What are some action steps consumers can take
Hi Hassan, While at one of the election points, I received info of city rmeetings being held. I'm planning to attend these meetings with printed copies of this article and will pass them out to be discussed at their next meeting.
Also meet with the city manager of light & water dept.to discuss this matter