Peter of England: A REal guru.

[notorial dissent]

A Payee accepts a check on the assumption that it will clear. Somewhere in the acceptance agreement it spells that out, or just at common law. A check that does not clear is worthless. If the check does not clear they have every right to reverse the account credit, and will. Something the WeRe check writers don't seem to get the gist of. Popcorn time a comin'.

[Bones]

On Peter's FB:

Oh! and bye the way, if you wish to take the "Quat-loosers" out for me in your spare time then it would be appreciated!!

What's the problem? WeRe Bank seems to be approaching the legal side of the line. If he removed the word "Bank", and the junk about BoE 1882 and the UN Convention, a case might be made that it is entirely legal.

He also says this which sounds like a money grab

Peter Of England
8 hrs ·

WeRe Bank Meeting this Saturday 23rd Nottingham 2pm!
See GOODF website for details...

ENGONE HOUSE ...maybe a pub?

Bring everyone and anyone...

Peter

As long as they are stupid and bring £35

[Normal Wisdom]

In the same FB quote from Peter about taking out Quat-loosers (wouldn't Quat-losers make more sense?), Andy Pears says "lol, those quatters are some crazy fools for sure".

This is the same Andy Pears that on the "Eviction the fraud of the bank" FB page was trying to convince Tom Crawford supporters that the judgement had proved Tom had lost after all. Perhaps someone could remind Andy that "Quatters" had been saying that all along and where the judgement came from.

I would but apparently I'm blocked on Peter's FB page

https://www.facebook.com/pages/Peter-Of ... 68?fref=ts

[wanglepin]

On Peter's FB:

Oh! and bye the way, if you wish to take the "Quat-loosers" out for me in your spare time then it would be appreciated!!

What happened to

The Quatloos crowd are being taken care of as we speak and will be soon blown to the 4 corners of the earth like dessicated mud!
Karma, karma...ain't it a bitch!!

"as we speak" - over a week ago.

[littleFred]

... and will be soon blown to ...

I suspect that 4th dimensional ETs were summoned to do the blowing, so "soon" in their time or ours? Perhaps a thousand years of our time is mere seconds to them. Or vice versa.

[rumpelstilzchen]

What happened to

The Quatloos crowd are being taken care of as we speak and will be soon blown to the 4 corners of the earth like dessicated mud!
Karma, karma...ain't it a bitch!!

"as we speak" - over a week ago.

We should be OK. Last time I looked the earth ain't got no corners.

[guilty]

What's the problem? WeRe Bank seems to be approaching the legal side of the line. If he removed the word "Bank", and the junk about BoE 1882 and the UN Convention, a case might be made that it is entirely legal.

Peter of England couldn't spot the legal line with binoculars.
I have to admit, though, that when I read the new WeRe Bank website I began to think that PoE was setting up a position of plausible deniability i.e. "Your Honour, I never meant the cheques to be used for £pounds, it was Ceylon, bertiebert and SalliNae that promoted this."
Unfortunately, PoE's previous record on YouChoob and Facebook puts this defence in the waste disposal unit.
Nevertheless, I agree with littleFred that the new website does at least appear to have the legal line on the far horizon. The rambling NewAge insanity and the confusing essays about Re could be seen as an attempt to set up a community currency (which is quite legal) and, as littleFred intimated, getting rid of the word Bank and the rest of the junk would (in the absence of previous evidence) make it difficult to prove intent to financial fraud.
The references to WIR could then be interpreted as an indication of PoE's desire to achieve something similar, albeit at the embryonic stage.

Unfortunately for him, and those that have joined him, the evidence shows something very different.

[littleFred]

A couple of damning assertions on the WeRe Bank Benefits page:

When people join they will receive a cheque book to help them create their own money

WeRe Bank funds its operations by charging a Flat Rate Transaction Tax of 1% on all commercial transactions. Example you spend £100 we charge £1 – you spend £500 we charge £5

There is movement to prepare cheque books which every client will possess. This book will allow you to pay for utilities and other services as well as taxes and miscellaneous goods.

Peter's defence would say the first of those referred to pREtend money, so no problem. But then the last assertion (which was copy-pasted from very old text) is clearly false; HMRC and local councils won't accept Re.

[guilty]

But PoE could point to the line that says:

We provide a list of people and businesses prepared to accept Re units

Peter : "M'Lud, if idiots send these cheques in £pounds to the HMRC and Councils, then that is entirely their own problem."

(I know it is doomed from the outset, but it's an interesting conjecture)

[guilty]

WeRe Bank funds its operations by charging a Flat Rate Transaction Tax of 1% on all commercial transactions. Example you spend £100 we charge £1 – you spend £500 we charge £5

I've puzzled over this one for the last couple of days. It makes no sense. How would this work? What is he attempting to do here?

[PeanutGallery]

Peter thinks that if he can impose a 1% tax on every financial transaction in the UK he can rake it in from the dealings in the City of London. He thinks that a tax like this would mean that nobody in the UK would need to pay tax again ever. He doesn't realise that most of the money that currently flows through the City would be diverted outside of the UK and this would be pretty disastrous for our economy.

Of course this is only a pipe dream of a fantasy by a man who's grasp on reality is questionable at best. I wouldn't worry about it ever coming to fruition. I also wouldn't spend too much time wondering about the practicalities of what is a very impractical idea.

[guilty]

Peter thinks that if he can impose a 1% tax on every financial transaction in the UK he can rake it in from the dealings in the City of London.

I understand that particular fantasy, although the idea is not particularly new and it has been promoted elsewhere (can't remember where I read it ). I think it was a discussion about foreign aid and eliminating third world debt.

It's the "you spend £100, we charge £1" that has me scratching my head. Without a Government imposed tax how does Peter collect £1 from me every time I spend £100?

[PeanutGallery]

He'd have to have it added at the transaction point. Which would require being the government. Like I said, I don't think Peter has a plan on how to practically collect this revenue, and his grasp on reality is questionable at best.

I think Peter imagines you'd just give him the pound. Because he wants it.

[guilty]

I think Peter imagines you'd just give him the pound. Because he wants it.

Ah! Got it now. Thanks.

[littleFred]

He'd have to have it added at the transaction point.

Yes, but in Peter's fantasy, all consumer transactions will go through him. The cheques, for example: he debits the account-holder (magically creating a credit at the payee's end), but can simultaneously syphon off an extra 1% for himself.

Peter wants a cashless society so we can expect that WeRe is working towards bank debit cards, so customers can buy stuff in shops without having to write out cheques. Again, WeRe could syphon off an extra 1%.

Peter sells this 1% tax as a replacement for all other taxes: income tax, council tax, VAT and so on. But in the transition period before Peter's dream is fulfilled, we have 1% as an extra tax.

[guilty]

Peter's FB says:

Re Movement & WeRe Bank Meeting:

Saturday 23rd May 2015 14:00hrs

The New Engine House
Old Brickyard
NG3 6PB

This is going to cause havoc amongst the SovCits! The march on the Nottingham Post is at 2.00pm on Saturday.

Ooooh! Which to choose?

[Losleones]

Of course Sallinae takes the view that if you can't say anything nice you shouldn't say anything at all. I'm guessing she's never read a YouTube comments section. Personally I welcome criticism it helps you learn and refine ideas.

The old WeRe bank site had more than a touch of the crazy about it as well. I was honestly surprised that people suddenly, and for no apparent reason, started to take Peter seriously. Back when I started this thread his scam was going nowhere and he was just another nut on YouTube. Now he's proving to be one of the more entertaining idiots with his own brand of really special ideas.

As for how the scam works, it's worth pointing out that their is a considerable conspiracy theory in Sovrun/Freetard circles that believes that money doesn't really exist. So because it's not a real thing, it can be invented and created out of nothingness. They also think that a promissory note is as good as cash, based on a misunderstanding of some obiter dicta from a Judgement made by Lord Denning. The Sov's put these two together and believe they can write a promissory note, literally a promise to pay, for any value and it will instantly have that value and be as good as cash.

Peter's scam relies on the belief in this prom note as it's key. He gets them to write and send him a prom note for £150,000 and he in turn credits that to an 'account' they have with his bank. Then he gets them to send him £10 per month and £25 for a cheque book which he says they can use to pay off debts because he will clear cheques up to the value of the promissory note.

So the freetards think they have just magicked up a bank account with £150,000 in it. There is only one problem, the promissory notes are worthless. They are worthless because the person making the promise doesn't have the means to make the note come good, they won't be able to pay the £150,000 on it. They can't be traded (without losing all their value) and aren't secured on anything.

In the scam world, when a cheque arrives and Peter 'clears' it the other bank is supposed to credit funds to an account, while Peter debits another account the same amount. This is how he thinks it is done in the banking world. It isn't. As far as I understand it, all the banks carrying out operations in England and Wales have an account at the Bank of England. These accounts hold a substantial amount of money for each bank. When a cheque is presented, it is correct that one banks ledger is credited and another debited, but this is done by the Bank of England to represent the transfer of those funds (in the same manner someone might move money from a current account to a savings account). In practice what this means is that as well as crediting and debiting ledgers the banks have actually transferred the very real ownership of very real money.

Peter doesn't actually transfer any money. He doesn't have an account at the BoE (in fact at the moment it seems that he doesn't have an account anywhere, given that his Nationwide was frozen) and he certainly doesn't have the liquidity to release funds to match the amounts he's been promising.

This means that the cheques bounce even though Peter swears they've cleared. Of course the cheque bouncing after he's cleared them isn't his fault. It's the other bank who aren't crediting an amount that wasn't deposited. Peter complains that they aren't playing fair and they aren't allowing him to bring down their monopolistic cartel that has enslaved humanity. His followers lap this drivel up because it's what they expect and want to hear.

In a nutshell (pardon the pun peanut) It all boils down to REAL currency. Peter comes across as an intelligent individual but it's such a shame his obsession against the system has warped his mind into catapulting this pipe dream into the depths of total destruction.

[Losleones]

http://www.getoutofdebtfree.org/forum/v ... Vx1zHCkqrV

[noblepa]

How does all this uproar about WeReBank and WeRe cheques fit in with the movement, now underway, in the UK, to eliminate paper checks altogether?

http://news.bbc.co.uk/2/hi/business/8414341.stm

I know that Peter's worthless cheques will be a distant memory when the target date of 2018 for eliminating cheques arrives, and that the 2018 date is likely to be moved back, but still ...

If Peter somehow manages to survive without going to jail until 2018, is he going to do like Robert Menard in Canada and come up with a pretend debit card?

[guilty]

is he going to do like Robert Menard in Canada and come up with a pretend debit card?

That would be even more problematical for his marks 'customers'. A WeRe debit card would be rejected at point-of-sale.