In case they do delete comments
Re: Peter of England updates.
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Postby freemanofengland » Sun Jun 28, 2015 2:32 pm
Luke, what do you think shows WeRe bank is succeeding? Would it be the people who pay their money to PoE to belong being able to use WeRe checks to settle their debts as they were promised they would be able to do, or would it be for them to end up in court and ending up owing more money and having their belongings taken away from them?
I think Mr Fibble is saying there is no evidence that anyone has used a WeRe cheque to pay of any debt public or private but lots of people are having more added to their debts and being taken to court.
freemanofengland
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OK, I see what your saying but if WeRe Bank needs sterling why wont' it take cheques from other banks in sterling? I have read all I can about WeRe bank and from what I understand, if a cheque is writ on a WeRe account then WeRe bank takes it from the £150K prom note youv'e given and the other bank adds it to it's ledger to show youv'e paid. So if you give WeRe a cheque from say Halifax bank or HSBC for £120 a year up front, then it can be processed in exactly the same way with WeRe bank adding it to the account and the other bank ajusting its own books to take it off of your account.
aarons1950
I think there are a couple problems here.
A promissory note has to be backed up by something, anyone with no money writing one is not going to be taken seriously. If your selling your car and someone with no money writes you a promissory note are you going to give them the keys? Why do you think anyone is going to settle a debt on a Were bank promissory note from someone with no money?
There's a step missing in Were bank processing a cheque. For the other bank to take it off there has to be an account. All the banks have money in Bank of England accounts so when one bank wants wants to settle with another bank there's an account to adjust. Were bank doesn't have an account with the bank of England so there's no book to make an entry into. Peter can write what he wants in his ledger but the other banks won't adjust theres unless they get money.
Peter can't pay checks into Were bank for the same reason. His real bank accounts have been frozen for fraudulent activity so he can't pay them in there. So he has to have cash. Simples.