What is WEREX about?
The short answer:
The World Equity Repository EXchange, or WEREX, is effectively a marriage between a suite of generic social-networking sites like Faceb**k, YouT*be, Tw*tter, etc., and a financial-exchange mechanism like Bitco*n.
The main differences are that on the social-networking side, everyone retains the right of property in everything that they post instead of having to agree that the site owns it.
And on the financial-exchange side, under Phase 1 (mortgage-equity), everyone who has ever issued and registered a mortgage gets an account denominated in an equity-based crypto-currency, and with a starting balance equal to the total registered Principal Amount plus any interest that they have ever paid in respect of a nominal mortgage-secured loan (and likewise (under Phase 2) for all other nominal borrowers and all of their nominal loans regardless of whether they were mortgage-secured).
The back-story
For about ten generations the entrenched-money-power that substantially owns the private global nominal banking system had a system in place that was technically criminal, but which probably could have continued indefinitely with a little maintenance and restraint.
But starting in about 1980, the current generation(s) became ever more arrogant, careless, lazy and stupid, and started boosting profits and asset-acquisition rates by openly providing for the falsification of the securities that they prepared for and obtained from nominal borrowers, including and especially mortgage securities.
They concurrently began the process in earnest of channelling an ever-larger percentage of ill-gotten gains – literally proceeds of crime – back to management in the form of stock-options and personal bonuses.
Today, forty-years later, on top of multiple collateral criminal-law violations, virtually every mortgage-transaction in the real-world follows the Godfather business-model:
Godfather: “First, as a sign of your respect, I want you to legally sign over everything that you own to me. Then I will decide what and how much, if anything, that I will give you in return. It’s a good deal. It’s an offer you can’t refuse.”
At some point, some clever finance-lawyer figured out that the bankers could quietly double their accounting profits and untaxed-capital-gains by putting their already-criminal transactions into the form of a wager or game-of-chance. Virtually every mortgage transaction today requires the nominal borrower to first unconditionally transfer all of their transaction-specific assets to the bank, and then the bank will make a decision on whether to give them anything in return.
In fact (and in law) a typical registered mortgage virtually anywhere in the world today has up to a dozen flagrantly criminal provisions on the face of it. Without any exaggeration, they have become cartoonishly-criminal.
For generations the bankers and their solicitors used to hide and obfuscate the criminal terms in the offer-letter or terms-letter, and then register sanitized and innocuous-looking official mortgage securities founded in material omissions and fraudulent-half-truths.
But as of about 1980 they got careless and started to add openly criminal provisions directly to the subsequently registered securities. The general turning-point occurred when the courts established fast-track / rubber-stamp foreclosure procedures after which virtually no one outside the finance industry ever actually read the securities.
Also in 1980 the government of Canada expressly and officially recognized that what the bankers and the solicitors were doing was (and remains) technically criminal and racketeering, and decided to deal with it by (illegally) choosing as a matter of policy not to prosecute them for it.
Several of the criminal and anti-racketeering or anti-organized-crime statutes that the government acknowledged as being routinely violated by the bankers and their solicitors were then legally added or enjoined to several international treaties on organized-crime and money-laundering and the disposition of proceeds-of-crime.
Under those treaties, almost all nations globally are legally bound to seize all private bank assets worldwide, and to put the bankers and their finance-lawyers in jail. For whatever reason they have as yet (and illegally) failed to do so.
But regardless of such at-least negligence, because the nominal securities were technically criminal and false-documents, in every case a constructive trust was automatically created in favour of the nominal or pretended borrower, and those people are entitled in both law and equity to recover every last penny that they have ever paid to the bank, plus interest on the total.
A researcher who had spent nearly thirty years reading the historical record and studying the problem from multiple aspects, recognized the overwhelming number and scope of legal and equitable defects, and claimed / published a salvage-lien against all of the equity-titles to the assets (which were technically in a state of lost property or legal abandonment) and granted them (both the liens and the titles) into a Special Equity-Title Salvage and Restitution Trust on behalf of the rightful owners of them.
That trust is called WEREX (World Equity Repository & Exchange).
WEREX is converting all of the entitlements or claims, regardless of the original currency, into a uniform Equity-based crypto-currency (BEEC’s) using an exchange rate of USD $1 per BEEC (Bonded Equity Exchange Credit) as at the time of registration of the defective security / securities. This will allow for the final claim amounts to be adjusted to reflect the relative amount of time and work energy that they represented at the time of registration (at the time the fraud was committed by the bank / bankers and their solicitors).
The total number of beneficiaries worldwide is approximately 300 million people with total / aggregate claims and entitlements of about the USD-equivalent of $150 trillion ($150,000,000,000,000).
For hundreds of years the bankers have relied upon the former-bank-lawyer-dominated commercial courts to protect them.
But with the development of broadly-defined crypto-currencies, for the first time in history the victims can provide for their own remedy by mutual agreement and acceptance.
And that remedy is not affected in any way by the failure of the world’s governments to arrest and prosecute the bankers and the finance-lawyers in accordance with their legally-binding treaty obligations.
The Financial Side
Most of the examples used on the site are from a specific 1997 nominal mortgage transaction in Canada between a small business and a mainstream Canadian financial institution (to provide a consistent frame-of-reference, and because the specific circumstances of the case make the frauds especially easy to demonstrate even to those who are not financially sophisticated). The author, however (and regardless), has examined hundreds of nominal mortgage transactions since 1990 and has yet to encounter one that is not technically criminal in fact and in law.
In this particular case (and in addition to multiple other criminal terms and requirements) the owner of the small business was required under the terms of the bank’s offer letter or commitment letter to execute and deliver to the bank a false receipt for $2.1 million, sworn under oath and penalty of perjury, to have already been paid by the bank and already received by the small business, even though no such payment had been made or received in fact:
In consideration of the Principal Amount of lawful money of Canada, now paid by the [bank] to the [pretended borrower], the receipt whereof is hereby acknowledged, the [pretended borrower] doth grant and mortgage unto the [bank], its successors and assigns forever, ALL AND SINGULAR the Lands subject only to the Permitted Encumbrances.
where (by clause 1 (xiv)) ““Principal Amount” means the principal amount described in PART 1 of this mortgage [i.e., $2,100,000.00].”).
As and when the nominal security was executed and delivered and / or registered, by accepting and underwriting the liability the small business advanced $2.1 million of real-estate-secured-credit to the bank, and the bank in fact recorded it as a $2.1 million increase in the bank’s own assets, and as $2.1 million of credit received from the small business (just as any other borrower or debtor would receive loan or credit proceeds).
The nominal security, however, again sworn under oath and penalty of perjury, states that exactly the opposite was true – and that not only had the bank already advanced credit to the pretended-borrower, but also that it had been in the form of a cash/equity-investment of $2.1 million in the small business.
The difference as and when the security was registered in favour of the bank represented a wholly fraudulent net $4.2 million swing in favour of the bank.
If the bank were to apply the same procedure to deposits, then it would give you a sworn and notarized $2.1 million (false) receipt up front for a deposit already made, and then allow you to deposit the receipt itself for a $2.1 million deposit credit. You would arrive at the bank with nothing at all, and leave with $2.1 million in your pockets – and with no liability to the bank or to anyone.
That is why the other half of the nominal banking system is obsessed with, and essentially defined by, electronic, computerized, and human-operated systems and sub-systems designed around one central purpose – and that is to make it impossible in practice for anyone to obtain and / or act upon a receipt for money paid to a bank or banker before it has been paid in fact.
There are two additional (and just as flagrantly criminal) primary techniques that those in the banking system employ to achieve the same false-accounting result as with the false receipts, thus establishing constructive criminal intent (mens rea) on the facts regardless of how adept the bankers may be at self-deception.
These are all what are called strict-liability criminal offences where the banker’s state-of-mind is not relevant (because the intent to commit the act is the intent to commit the crime). A false-receipt is a false-receipt and the bankers and their solicitors are in the business of knowing that it makes a difference – and that is sufficient for a criminal law conviction. It’s a criminal-law triple-whammy for them because (1) the acts are technically criminal on a strict-liability basis, (2) the banks then act-upon and convert the false-receipt, (3) even if the bankers’ treatment of deposits didn’t demonstrate so clearly and obviously that they know what they are doing (constructive proof of mens rea).
The entire USD-equivalent of $250 trillion of alleged loans outstanding today worldwide ($250,000,000,000,000) have been directly created and funded using these same simple and obvious frauds and criminal-law-violations (simple and obvious once they have been pointed out).
The total amount may appear near-inconceivable at first, but as the existing system continues to experience cascade-failure from some $4 quadrillion ($4,000 trillion) of falsified and pyramided account balances globally (primarily concentrated in the international financial markets), it will become increasingly obvious that the $150 trillion of prepaid equity in the WEREX equity trust is the most legitimate, stable and honest pool of assets on Earth, and which is owned for the most part pro rata by 300 million responsible homeowners worldwide.
A relative handful of bookkeepers claim that, according to their (egregiously-falsified) records and calculations, they own both the real assets (as alleged security) and the $150 trillion of financial assets. According to law and equity, about 300 million responsible homeowners own the real assets and the $150 trillion in financial / equity assets.
The entrenched-money-power had a good thing going for themselves and could have continued to take a free-ride on the backs of the masses essentially forever – as long as they didn’t create a compelling reason for a competent and comprehensive audit. But they got ever more arrogant, careless, lazy and stupid, and shot themselves in the collective foot.
The bankers never actually loaned any money to anyone – all they did was to obtain real-estate-secured credit from the pre-qualified productive-pretended-borrower and then returned or reinsured unsecured credit to them while cooking their books with bogus securities falsified by their solicitors.
The money or credit for the loan does not even exist unless and until the note-issuer (pretended-borrower) underwrites it by agreeing to assume the liability for it – by agreeing that they owe it.