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laserenacostarica · Joined: 25 Mar 2010 Posts: 1 2.37 Dollars($)

We're looking for funding for a resort property and was recommented someone who told us about a program that I will copy below.

"As I mentioned to you, the funding is part of a program put together by the U.S. Treasurey Dept working with Business Cannons and the law firm that represents Business Cannons. The funds are from the Federal Reserve and the Central Banks and are currently in with J.P Morgan.

Here are the details:
BUSINESS CANNONS PROGRAM

The Business Cannon Program has the dual objectives of adding capital to the banking system and promoting economic development. It is effectively a Private Stimulus Program which uses a technique developed with the assistance of the U.S. Treasury Department. The Fed has reviewed the procedure and has found no problem with it. The technique employed is a combination of Non-Depletion Commercial transactions and so-called “Private Transactions”. The very substantial profits generated from these activities is divided equally 1) to increase capital in the participating banks and 2) to the law firm which uses the bulk of its profits to fund private commercial projects which contribute to economic development and employment growth. A very significant capital base is available from private sources to support Business Cannons and the law firm which enables the the program to be launched. The ensuing Loan/CD Purchase process generates the very significant funds to contribute several times the value of the project in the form of earned income or capital to the banks’ capital base. The subsequent Non-Depletion Buy/Sell Commercial transactions offer an additional vehicle to contribute very substantial income to the bank which is shared with the law firm. Because these transactions are “non-depletion” in nature, there is no risk either to the participating banks or to the law firm. Of critical importance to the banks in that this “stimulus” does NOT have to be repaid. It represents a permanent increase to the bank’s capital. Further, the Projects themselves are fully financed to include the cost of the project plus payment of all principal and interest on the credit which is extended over a 10-year term.

Summary of BUSINESS CANNONS NEW PROTOCOL

In response to the financial problems of many banks and the resulting negative impact on economic activity from reduced business loan volume, the highest levels of the Federal and International financial community have developed a unique private stimulus system. This system is designed to build capital and increase profits for any participating bank while also facilitating the funding of business and humanitarian projects. All this is accomplished without any appreciable risk of loss to the bank and has been incorporated in the BUSINESS CANNONS NEW PROTOCOL.

Normal bank activities involve borrowing money short and lending long, and making loans that may or may not be repaid. Both require substantial risk for the bank, as evidenced by the recent number of bank failures. In contrast, the NEW PROTOCOL will convert, through a series of financial transactions, funds borrowed from the Federal Reserve or a Central Bank into earned income capital in the form of a ten year Certificate of Deposit issued and owned by the borrowing bank. During this brief process all transactions are 100% cash collateralized, supplemented by a promissory note backed by Treasury Securities. No appreciable risk is involved.

Creation of this unencumbered capital enables the bank to participate in a Service Agreement partnership with the Nelson Law Firm representing BUSINESS CANNONS. This partnership uses the bank CD as risk free evidence of financial capability to engage in Non-Depletion Buy/Sell Commerce involving various commodities and financial instruments. Each transaction has an established buy price and sell price so there is a known profit margin in advance with virtually no risk of loss. The volume of available transactions is very great.

Profits from this commerce for the ten year life of the CD are shared equally between the bank and the Nelson Law Firm for BUSINESS CANNONS. The bank’s profits will initially amortize any funds borrowed for the capital accumulation and then simply increase the profit of the bank. Nelson Law Firm’s profits will initially fund the business project(s) and cover administrative expenses, after which it will fund other worthy goals.

In summary, the NEW PROTOCOL will stimulate economic activity by funding business projects. It will increase bank capital and profits with no appreciable risk. Since projects are funded by BUSINESS CANNONS rather than the bank making a loan, this Protocol eliminates the risk necessary for standard bank activities. Compared to traditional bank practices, this lack of risk makes the NEW PROTOCOL a far more conservative practice. It is the NEW PARADIGM for banking.

SUMMARY OF CAPITALIZATION PROGRAM
1. People who have projects find a bank willing to lend funds for the project.
2. Business Cannons, represented by the Nelson Law Firm, provides the bank a process that will generate capital that will enable the bank to participate in Non-Depletion (Safe) Commerce.
3. Profits from the Commerce will be shared equally between the bank and Nelson.
4. Bank profits will amortize the cost of the added capital and then be all profit. Nelson profits will fund the project and then fund other Purchase Orders
5. Added capital for the bank starts with Nelson making a deposit in the bank of $10,000 or its peso equivalent, or more on behalf of the borrower. The depositor can be the borrower or someone on his behalf.
6. The deposit is collateral for a $10,000 loan to Nelson, who uses the funds to purchase a 10 year CD from the bank, which is then assigned to the bank as advance payment for the Service Contract between the bank and Nelson.
.7. The bank now has $20,000 collateral to make a $20,000 loan, CD is purchased and assigned. The process is continued until the desired level of CDs is reached. The bank now owns CDs which are earned income or capital to the bank.
8. This accumulation takes only one day and is supported by additional collateral of US Treasury Notes equal to 240% of the added capital amount. Adding $100MM capital would have $240MM of treasuries.
9. The added capital is now an unencumbered asset which serves as evidence of financial capability for the bank to participate in the Non-Depletion Commerce. Participation does not require cash, only evidence of financial capability.
10. Terms of the bank’s participation are detailed in the Service Contract with Nelson.
11. Since the CDs are ten year instruments, the bank can participate in the Commerce for ten years if it desires."

Thank you for any assistance!

Guest

Where can I go and find more solid info about business Cannons? I searched the JP Morgan site and US treasury but no luck. please let me know where I can go.

Guest

Lasarenacostarica, Where did the letter you posted originate? The reason i ask is how does the author know that JPMorgan is doing it and is there any way to verify that the US Treasury had anything to do with the protocol?Thank you, Petey

Guest

If it sounds too good to be true, it usually is - especially this.

Look up Incredible Concepts.

There are several interlocked scams in this Ponzi scheme, including Navigators, The Calgary Group Centre of Alberta, Canada (which has no address, no phone number ) and San Marcos Ranch (which simply does not exist).

Oh, and be sure to check the SEC filings against Navigators, James R. Spurger and Benjamin W. Young, Jr.

We believe that Calgary Work Centre is an affiliate of the Incredible Concepts Inc group aka Internet Catalogue Club, Business Cannons, Zcash.org, Navigators International etc etc.

Guest

The bank capitalization program described above is a solid program to benefit banks plus provide financing for projects, which financing is then paid off through a component of the capitalization program. That is the bonus for a project proponent who introduces a bank to the law firm directing the program. True, the 2 million members of Business Cannons love the program due to the benefits derived but the program is provided by the law firm (brucenelsonlaw@live.com). Contact the firm to find out for yourself.

Guest

I guess my question would be is there anyone who knows of or can verify if anyone has ever done this process? I tried the web site for Nelson Law Firm but it doesn't work. I don't believe that anyone can site a project that has been funded in this way. I want to believe that this is true, but the way that it is presented and the lack of any type of verification makes it hard to accept.

gmakerley · Posted: Fri Apr 30, 2010 1:54 pm Post subject:

WOW

Petey your last comment shook me up. "the way it is presented and the lack of any type of verification makes it hard to accept."

I can't comprehend why it would be "hard" to accept. It ought to be IMPOSSIBLE TO ACCEPT.

There is no way that the US Treasury is going to align itself with some private concern to make loans as described in this "letter" that you received.

You had better not walk away from this, but run as fast as you can.

Guest

One of our clients brought in a "promissory note" that involves businesscannons and the nelson law firm. He is to be loaned $10 million, pay the note in 30 days after payment has been received after our client purchases $40 million in goods from Uniform Advertising Week. Our client is then to contact the law firm and obtain the $10 million depositbased on existing sold inventory from Uniform. The money will be deposited upon completion of negotiations taht allow for the collection of funds re the inventory. A legitimate broker says he has closed deals with them before.
Would anyone like to translate into English how the "deal" or "scam" actually works? Our client thinks he is going to be loaned $10 million.

gmakerley · Posted: Tue May 04, 2010 12:59 pm Post subject:

It's pretty clear to me. He borrows $10 million, never receives the deposit "upon completion of negotiations" and is on the hook for $10 million with no way to pay it back.

"a legitimate broker" may not be so legitimate.

Contact Clark Howard at "www.clarkhoward.com" and let him let you know how bad this idea is. He'll be able to put it into any language you wish.

For me, it could be Farsi, it could be Spanish, it could be Vietnamese, it could be Laotian, it could be Esperanto...a scam is a scam is a scam.

[Link deactivated as per forum rules. Thanks.]

Guest

i dont know i had a client start the process a month ago for his project
the commission is paid to us at funding only needed a letter from his bank saying they are willing to go along with the program cannons puts up all the funds my client is losing nothing

gmakerley · Posted: Thu May 06, 2010 9:27 am Post subject:

Great information from you, AngieT, but of course, since we have no clue as to who you are or who you represent, the level of credibility we can give to your information is negligible...even zero!

Let us know who you are and why we ought to trust in what you say, and we'll trumpet it for you.

Guest

Business Cannons Business Group is the latest incarnation of Incredible Concepts, aka Internet Catalogue Club, aka Zcash.org, aka Navigators International, aka Sunrise Universe, NTC Treasure Chest, and the list goes on ad nauseum. They have by their own account been around since the mid '90's. SEC is just finishing up a civil complaint on one of their failed investment ventures. These entities are the offspring of Benjamin W. Young Jr. (Utah and San Salvador) and James Ritchie Spurger (Texas)--and possibly one other person who claims to be a "partner".

There is a lot of controversy surrounding this group. See full slate of posts dating back over a year on: investorswatchdog.com/blog/investorswatchblog/?p=81

Hard to say if they are scammers. Supporters come and go on a revolving door basis. Most of what they profess to be about is changing the world and humanitarian ventures and christian values, blah, blah blah...Easy to say they are timewasters. Have never seen or heard of any successful outcomes to any of their crazy schemes. Have heard from many people (members) who subscribed to their brand of boloney who were hurt by the time and money wasted and more importantly crushed emotions from failed expectations.

Guest

I am a banker and I was approached by a customer to start a loan request based on the funding from Business Cannons. I believe that this is a scam and a fraud. But there is limited information, does anybody has more information to prove to my customer that this is a fraud?

Guest

The easy way to find out re the process, is to be in touch with the Nelson Law Firm in Utah. However, they are nearly impossible to contact. They are just that busy. They do exist, and if you do due diligence, you will not pass judgement until you have asked the law firm. Nelson is not going to just talk to you because you ask. They are much too busy. You can inquire on behalf of a client who is possibily going to participate, such as a bank, another lawyer, or a member of the ICC who wants to be a depositor or borrower...or who has presented a Promissory Note to be processed. I have done my due diligence and believe that this is legitimate. The process of funding is not really new and is compliant with commercial law. I am not a banker or a lawyer...which is why the Nelson Law Firm is there....to facilitate knowledge of the process and to get the process completed. I am an active club member and have been for 2.5 yrs. I have a property in the process for funding. It has been 7 months, and if I have to wait a year or more; that is okay. I will still be far better off. I will have my property, mortgage free. There is a lot of adversity and false information perpetuated by those who would like to see them fail. And the SEC case is over now, and the SEC is leaving the club alone. That should tell you something.

Guest

Lucy, are you saying in the message that you are participating in the protocol?

I believe that this is a very viable program and the skeptics are just that,

Experts without knowledge

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