The Bankruptcy of The United States
United States Congressional Record, March 17, 1993 Vol. 33, page H-1303
United States Congressional Record, March 17, 1993 Vol. 33, page H-1303
Speaker-Rep.
James Traficant, Jr. (Ohio) addressing the House:
"Mr.
Speaker, we are here now in chapter 11.. Members of Congress are official
trustees presiding over the greatest reorganization of any Bankrupt entity in
world history, the U.S. Government. We are setting forth hopefully, a blueprint
for our future. There are some who say it is a coroner’s report that will lead
to our demise.
It
is an established fact that the United States Federal Government has been
dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1, Public Law
89-719; declared by President Roosevelt, being bankrupt and insolvent. H.J.R.
192, 73rd Congress m session June 5, 1933 - Joint Resolution To
Suspend The Gold Standard and Abrogate The Gold Clause dissolved the Sovereign
Authority of the United States and the official capacities of all United States
Governmental Offices, Officers, and Departments and is further evidence that
the United States Federal Government exists today in name only.
The
receivers of the United States Bankruptcy are the International Bankers, via
the United Nations, the World Bank and the International Monetary Fund. All
United States Offices, Officials, and Departments are now operating within a de
facto status in name only under Emergency War Powers. With the Constitutional
Republican form of Government now dissolved, the receivers of the Bankruptcy
have adopted a new form of government for the United States. This new form of
government is known as a Democracy, being an established Socialist/Communist
order under a new governor for America. This act was instituted and established
by transferring and/or placing the Office of the Secretary of Treasury to that
of the Governor of the International Monetary Fund. Public Law 94-564, page 8,
Section H.R. 13955 reads in part: "The U.S. Secretary of Treasury receives
no compensation for representing the United States?’
Gold
and silver were such a powerful money during the founding of the united states
of America, that the founding fathers declared that only gold or silver coins
can be "money" in America. Since gold and silver coinage were heavy
and inconvenient for a lot of transactions, they were stored in banks and a
claim check was issued as a money substitute. People traded their coupons as
money, or "currency." Currency is not money, but a money substitute.
Redeemable currency must promise to pay a dollar equivalent in gold or silver
money. Federal Reserve Notes (FRNs) make no such promises, and are not
"money." A Federal Reserve Note is a debt obligation of the federal
United States government, not "money?’ The federal United States government
and the U.S. Congress were not and have never been authorized by the
Constitution for the united states of America to issue currency of any kind,
but only lawful money, -gold and silver coin.
It
is essential that we comprehend the distinction between real money and paper
money substitute. One cannot get rich by accumulating money substitutes, one
can only get deeper into debt. We the People no longer have any
"money." Most Americans have not been paid any "money" for
a very long time, perhaps not in their entire life. Now do you comprehend why
you feel broke? Now, do you understand why you are "bankrupt," along
with the rest of the country?
Federal
Reserve Notes (FRNs) are unsigned checks written on a closed account. FRNs are
an inflatable paper system designed to create debt through inflation
(devaluation of currency). when ever there is an increase of the supply of a
money substitute in the economy without a corresponding increase in the gold
and silver backing, inflation occurs.
Inflation
is an invisible form of taxation that irresponsible governments inflict on
their citizens. The Federal Reserve Bank who controls the supply and movement
of FRNs has everybody fooled. They have access to an unlimited supply of FRNs,
paying only for the printing costs of what they need. FRNs are nothing more
than promissory notes for U.S. Treasury securities (T-Bills) - a promise to pay
the debt to the Federal Reserve Bank.
There
is a fundamental difference between "paying" and
"discharging" a debt. To pay a debt, you must pay with value or
substance (i.e. gold, silver, barter or a commodity). With FRNs, you can only
discharge a debt. You cannot pay a debt with a debt currency system. You cannot
service a debt with a currency that has no backing in value or substance. No contract
in Common law is valid unless it involves an exchange of "good &
valuable consideration." Unpayable debt transfers power and control to the
sovereign power structure that has no interest in money, law, equity or justice
because they have so much wealth already.
Their
lust is for power and control. Since the inception of central banking, they
have controlled the fates of nations.
The
Federal Reserve System is based on the Canon law and the principles of
sovereignty protected in the Constitution and the Bill of Rights. In fact, the
international bankers used a "Canon Law Trust" as their model, adding
stock and naming it a "Joint Stock Trust." The U.S. Congress had
passed a law making it illegal for any legal "person" to duplicate a
"Joint Stock Trust" in 1873. The Federal Reserve Act was legislated
post-facto (to 1870), although post-facto laws are strictly forbidden by the
Constitution. [1:9:3]
The
Federal Reserve System is a sovereign power structure separate and distinct
from the federal United States government. The Federal Reserve is a maritime
lender, and/or maritime insurance underwriter to the federal United States
operating exclusively under Admiralty/Maritime law. The lender or underwriter
bears the risks, and the Maritime law compelling specific performance in paying
the interest, or premiums are the same.
Assets
of the debtor can also be hypothecated (to pledge something as a security
without taking possession of it.) as security by the lender or underwriter. The
Federal Reserve Act stipulated that the interest on the debt was to be paid in
gold. There was no stipulation in the Federal Reserve Act for ever paying the
principle.
Prior
to 1913, most Americans owned clear, allodial title to property, free and clear
of any liens or mortgages until the Federal Reserve Act (1913)
"Hypothecated"
all property within the federal United States to the Board of Governors of the
Federal Reserve, -in which the Trustees (stockholders) held legal title. The
U.S. citizen (tenant, franchisee) was registered as a "beneficiary"
of the trust via his/her birth certificate. In 1933, the federal United States
hypothecated all of the present and future properties, assets and labor of
their "subjects," the 14th Amendment U.S. citizen, to the
Federal Reserve System.
In
return, the Federal Reserve System agreed to extend the federal United States
corporation all the credit "money substitute" it needed. Like any
other debtor, the federal United States government had to assign collateral and
security to their creditors as a condition of the loan. Since the federal
United States didn’t have any assets, they assigned the private property of
their "economic slaves", the U.S. citizens as collateral against the
unpayable federal debt. They also pledged the unincorporated federal territories,
national parks forests, birth certificates, and nonprofit organizations, as
collateral against the federal debt. All has already been transferred as
payment to the international bankers.
Unwittingly,
America has returned to its pre-American Revolution, feudal roots whereby all
land is held by a sovereign and the common people had no rights to hold
allodial title to property. Once again, We the People are the tenants and
sharecroppers renting our own property from a Sovereign in the guise of the Federal
Reserve Bank. We the people have exchanged one master for another.
This
has been going on for over eighty years without the "informed
knowledge" of the American people, without a voice protesting loud enough.
Now it’s easy to grasp why America is fundamentally bankrupt.
Why
don’t more people own their properties outright?
Why
are 90% of Americans mortgaged to the hilt and have little or no assets after
all debts and liabilities have been paid? Why does it feel like you are working
harder and harder and getting less and less?
We
are reaping what has been sown, and the results of our harvest is a painful
bankruptcy, and a foreclosure on American property, precious liberties, and a
way of life. Few of our elected representatives in Washington, D.C. have dared
to tell the truth. The federal United States is bankrupt. Our children will
inherit this unpayable debt, and the tyranny to enforce paying it.
America
has become completely bankrupt in world leadership, financial credit and its
reputation for courage, vision and human rights. This is an undeclared economic
war, bankruptcy, and economic slavery of the most corrupt order! Wake up
America! Take back your Country."
Image: United States Congressional Record, March 17, 1993 Vol. 33, page H-1303
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