Open Letter to Target: Why I stopped paying my Target Visa card

Christine Baker
[address redacted]

ATTN: Terrence J Scully
President, Target Financial Services
Target National Bank
1000 Nicollet Mall
Minneapolis, MN 55403-2542

Via Priority Mail

April 3, 2008

Re: Dispute of my Target VISA card # 435237XXXX

Dear Mr. Scully:

I am hereby informing you that you can STOP having your collection employees hound me as I will not pay this account.

1) I initially stopped paying my $8,000 Target VISA card because my polite request to lower the over 18% interest rate was declined.

As per the 2/27/08 Target letter, it declined my request for a lower rate due to my Experian credit report and for the following reasons:

Number Of Accounts With High Balance To Limit Ratios
Ratio Of Balance To Limit On Open Revolving Accounts

It takes a lot of guts and bad judgment to charge a “valued” customer over 18% interest.  Obviously, I cannot reward Target for this usury with further payments.

The high balances were primarily incurred due to my litigation against credit bureaus and banks like Target and Capital One and to build my new house. 

It is not MY fault that the banks changed their underwriting guidelines and that I no longer qualify for a mortgage as when I started building.

For 1.5 years I made the payments on my credit cards, planning to refinance my credit card debt into a mortgage once the house was finished. 

Greedy bankers screwed up the entire credit market and I no longer qualify for a mortgage.

2) I recently discovered that Target didn’t actually lend me its own money.

In First National Bank of Montgomery v. Jerome Daly, MN 1969, judge Mahoney wrote:

Plaintiff admitted that it, in combination with the Federal Reserve Bank of Minneapolis, which are for all practical purposes, because of their interlocking activity and practices, and both being Banking Institutions Incorporated under the laws of the United States, are in law to be treated as one and the same bank, did create the entire $14,000 in money or credit upon its own books by bookkeeping entry. That this was the Consideration used to support the Note dated May 8, 1964 and the Mortgage of the same date. The money and credit first came into existence when they created It. Mr. Morgan admitted that no United States Law or Statute existed which gave him the right to do this. A lawful consideration must exist and be tendered to support the Note . . . [Emphasis added]

And:

The sole consideration paid for the One Dollar Federal Reserve Notes is in the neighbourhood of nine-tenths of one cent, and therefore, there is no lawful consideration behind said Notes.

Unjust Enrichment.

The debt I allegedly owe was apparently created by accounting entries and Target had the audacity to charge over 18% interest.

As judge Mahoney wrote:

Slavery and all its incidents, including Peonage, thralldom and debt created by fraud is universally prohibited in the United States. This case represents but another form of Slavery by the Bankers.

I could not agree more.

I believe that Target PROFITED from the alleged debt created by fraud and you failed to share your profits with me.

These concepts are explained in the free online film Money as Debt at http://creditfactors.com/forum/viewtopic.php?f=2&t=2 and in Ellen Brown’s eye-opening book Web of Debt, available at http://www.webofdebt.com/

Money should be created by the government so that it can stop incurring new government debt and start buying back the national debt, maintain bridges and highways, provide medical care and education, ensure that social security funds will be there when I retire, etc.

3) The cost of my litigation against Target regarding its refusals to report the credit limits for its Guest Card by far exceeded the amount I allegedly owe to Target. 

I never understood why Target continued to litigate this lost cause even on appeal instead of supporting me, especially since it started to report the credit limits.  I don’t get paid for working on legal filings and Target chose to waste a lot of my time.

4) Target’s handing of disputes has not been satisfactory.

Most recently, the disputed Dish Network unauthorized charges caused serious problems and I really don’t understand why Dish was able to charge my account again after my disputes and specific instructions NOT to allow any further Dish charges.

Please immediately delete this fraudulent Target account from my credit reports.

Enclosed are $10,000 Stelojs (I can create money too) and Target is not going to get one more penny from me unless the government bails me out as it bails out banks and corporations.

I am sick and tired of corrupt governments ran by greedy bankers all over the world.  There is no place to go, the bankers infested every country with any kind of economy worth exploiting.

I decided to vote with my money and to publicize this Open Letter.

I hope to inspire many millions of judgment-proof consumers to stop paying their unsecured debt.

Sincerely,

Christine Baker

c:  posted at http://mylitigation.net/, http://creditsuit.org/ and other websites