Consumer complaint received 2024-08-20 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Experian Information Solutions Inc.
State: GA

Complaint narrative:
XXXX XXXX received this letter, and they have chosen to ignore it while also reporting to the credit bureaus false information. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX Date of Birth : XX/XX/XXXX SS # : XXXX Account Ending in XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XX/XX/XXXX Demand to Remove Credit Information Due to Fraud To Whom It May Concern : In United States v. XXXX, 98 U.S. 61 ( 1878 ), this Court held that There is no question of the general doctrine that fraud vitiates the most solemn contracts, documents, and even judgments. Your company has done just that when it comes to fraud! This company has made me a victim of the XXXX XXXX scandal. I have sent you numerous certified letters demanding you provide me with a thorough accounting system showing you have truly loaned me money used in this credit account. It is my belief that you have not loaned anything and instead, you are requiring me to pay back money with interest that never belonged to you. 
XXXX XXXX XXXX stated, By this means ( fractional reserve banking ) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft. I plan on pursuing this with every extent of the law if you chose to continue to abuse me financially. You never had a depletion of any money out of your account ; therefore, this is FRAUD! 
This loans under the Federal system should be canceled and this company receive penalties! This account is really a magic trick! This company is in the vast majority of instances where XXXX, XXXX and other unsecured lines of credit received money that the financial institutions created under the Federal Reserve and never have any deduction out of their account. Rather you simply did a computer entry where you created it out of thin air which is called the XXXXXXXX XXXX! You have nothing at risk! The fact that you pretend otherwise is fraud! This is a violation of various lending laws which I will bring against you if I have to confront you in court. 
For the last three months I have consistently requested information from you proving this not to be true and you default on my requests for discovery! This is an international crime syndicate called the money lenders in truth you are pretender lender. XXXX XXXX in the XXXX stated, Give me control of a nation 's currency and I care not who makes its laws! One classic book that summarizes all this is the Creature from XXXX XXXX. Another book that exposes the evil is XXXX XXXX XXXX XXXX XXXX XXXX by XXXX XXXX. I have done my homework! 
One could argue well the banks and the Federal Reserve System provide the medium of exchange i.e. the money and administer that system and therefore should be paid for this service. If so, then the honest way to do it would be for you to charge a very small nominal fee such as 0.01 % of every transaction worldwide for maintaining the money system. This might be fair if it was operated with transparency and honesty and visible and mutually agreed upon by everyone. But paying back 100 % of the value of the transaction plus your serious interest is nothing less than outright theft and extortion! It is a parasitic influence on the global economy and has destroyed countless lives! It is wrong and must be stopped! This deep fraud must be stopped so the economy is improved because money that was otherwise going to the international crime syndicate which you then used to hire armies of mercenaries to organize the banking and court systems against us is money will now go instead to ones own presumably harmless and life supporting home! I have been a victim of fraud and theft that I am demanding be corrected immediately by returning my hard-earned funds turned into XXXX money! 
Just to layer how serious I am about pursuing you further is research I completed that clearly lays the scam completed out! The experiment I am referring to is to a broader critique of the way modern banking operates, particularly regarding the creation of money through lending. This idea is often discussed in the context of money creation by private banks, where banks are said to create money " out of nothing '' when they issue loans, rather than lending out pre-existing deposits. 
Experiments and Discussions : 1. XXXX XXXXXXXX XXXX XXXX : o One of the most notable figures in this area is economist XXXX XXXX XXXX, who conducted an experiment to demonstrate how banks create money when they issue loans. XXXX observed that when a bank makes a loan, it credits the borrower 's account with a deposit, effectively creating new money, without needing to offset this by withdrawing money from another account or any reserve. 
o XXXXXXXX XXXX XXXX and experiments highlighted that banks do not simply lend out deposits they already have but create new money when they issue loans. 
2. Documented in Academic Papers : o XXXX XXXX detailed this process in his academic work and publications, such as his paper titled " Can banks individually create money out of nothing? The theories and the empirical evidence. '' His findings challenged the traditional view of banks merely being intermediaries between savers and borrowers. 
3. XXXX XXXX XXXXXXXX XXXX XXXXXXXXXXXX XXXX : o XXXX XXXX XXXX XXXXXXXX published a report in XXXX titled " Money creation in the modern economy, '' which supported the idea that banks create money when they make loans. The report clarified that money creation is not just a transfer of pre-existing funds but rather the creation of new bank deposits, which make up the majority of money in circulation. 
Conclusion : The experiment and findings point to the process of money creation in the modern banking system. When a bank issues a loan, it does not require an offset from another account ; instead, it generates new money in the form of a deposit credited to the borrower 's account. This understanding is key to grasping how money supply expands within an economy. XXXX XXXX 's work and the XXXX XXXX XXXXXXXXXXXX XXXX XXXX are significant contributions to this topic. 
MY POINT IS PROVEN! I am demanding the following immediately : 1. All my money that has been sent to you as payment be returned in a check form to the above address. 
2. All the interest I have paid on this fraudulent account be returned in a check form to the above address. 
3. This account be brought to ZERO immediately due to your company illegally and fraudulently deceiving me into believing your company officially loaned me money. 
4. This account be removed from ALL credit agencies where you provided my personal information without my permission. I never gave you permission to report my personal information with ANY agency. 
5. You provide a follow-up letter stating the above has been done. 
Let me reiterate the seriousness of this matter. For months you have ignored my request. DONT IGNORE THIS ONE! The next step is to file a formal federal complaint against this corporation if I do not hear back from you or you decide to send me a computer-generated letter. YOU HAVE BEEN WARNED! 
Thank you for your immediate attention and assistance in resolving this matter. 
Sincerely, XXXX XXXX XXXX ALL RIGHTS RESERVED Without Prejudice

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation