The Bankruptcy of The United States
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 areofficial trustees presiding over the greatest reorganization of any Bankruptentity in world history, the U.S. Government. We are setting forthhopefully, a blueprint for our future. There are some who say it is acoroner's report that will lead to our demise.
It is an established fact that the United States Federal Government hasbeen dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1,Public Law 89-719; declared by President Roosevelt, being bankrupt andinsolvent. H.J.R. 192, 73rd Congress m session June 5, 1933 - JointResolution To Suspend The Gold Standard and Abrogate The Gold Clausedissolved the Sovereign Authority of the United States and the officialcapacities of all United States Governmental Offices, Officers, andDepartments and is further evidence that the United States FederalGovernment exists today in name only.
The receivers of the United States Bankruptcy are the InternationalBankers, via the United Nations, the World Bank and the InternationalMonetary Fund. All United States Offices, Officials, and Departments are nowoperating within a de facto status in name only under Emergency War Powers.With the Constitutional Republican form of Government now dissolved, thereceivers of the Bankruptcy have adopted a new form of government for theUnited States. This new form of government is known as a Democracy, being anestablished Socialist/Communist order under a new governor for America. Thisact was instituted and established by transferring and/or placing the Officeof the Secretary of Treasury to that of the Governor of the InternationalMonetary Fund. Public Law 94-564, page 8, Section H.R. 13955 reads in part:"The U.S. Secretary of Treasury receives no compensation for representingthe United States."
Gold and silver were such a powerful money during the founding of theunited states of America, that the founding fathers declared that only goldor silver coins can be "money" in America. Since gold and silver coinagewere heavy and inconvenient for a lot of transactions, they were stored inbanks and a claim check was issued as a money substitute. People tradedtheir coupons as money, or "currency." Currency is not money, but a moneysubstitute. Redeemable currency must promise to pay a dollar equivalent ingold or silver money. Federal Reserve Notes (FRNs) make no such promises,and are not "money." A Federal Reserve Note is a debt obligation of thefederal United States government, not "money?' The federal United Statesgovernment and the U.S. Congress were not and have never been authorized bythe Constitution for the united states of America to issue currency of anykind, but only lawful money, -gold and silver coin. It is essential that we comprehend the distinction between real money andpaper money substitute. One cannot get rich by accumulating moneysubstitutes, one can only get deeper into debt. We the People no longer haveany "money." Most Americans have not been paid any "money" for a very longtime, perhaps not in their entire life. Now do you comprehend why you feelbroke? Now, do you understand why you are "bankrupt," along with the rest ofthe country?
Federal Reserve Notes (FRNs) are unsigned checks written on a closedaccount. FRNs are an inflatable paper system designed to create debt throughinflation (devaluation of currency). when ever there is an increase of thesupply of a money substitute in the economy without a corresponding increasein the gold and silver backing, inflation occurs.
Inflation is an invisible form of taxation that irresponsible governmentsinflict on their citizens. The Federal Reserve Bank who controls the supplyand movement of FRNs has everybody fooled. They have access to an unlimitedsupply of FRNs, paying only for the printing costs of what they need. FRNsare 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" adebt. 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 debtwith a currency that has no backing in value or substance. No contract inCommon law is valid unless it involves an exchange of "good & valuableconsideration." Un-payable debt transfers power and control to the sovereignpower structure that has no interest in money, law, equity or justicebecause they have so much wealth already.
Their lust is for power and control. Since the inception of centralbanking, they have controlled the fates of nations.
The Federal Reserve System is based on the Canon law and the principles ofsovereignty protected in the Constitution and the Bill of Rights. In fact,the international bankers used a "Canon Law Trust" as their model, addingstock and naming it a "Joint Stock Trust." The U.S. Congress had passed alaw making it illegal for any legal "person" to duplicate a "Joint StockTrust" 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 anddistinct from the federal United States government. The Federal Reserve is amaritime lender, and/or maritime insurance underwriter to the federal UnitedStates operating exclusively under Admiralty/Maritime law. The lender orunderwriter bears the risks, and the Maritime law compelling specificperformance in paying the interest, or premiums are the same.
Assets of the debtor can also be hypothecated (to pledge something as asecurity without taking possession of it.) as security by the lender orunderwriter. The Federal Reserve Act stipulated that the interest on thedebt was to be paid in gold. There was no stipulation in the Federal ReserveAct for ever paying the principle.
Prior to 1913, most Americans owned clear, allodial title to property, freeand clear of any liens or mortgages until the Federal Reserve Act (1913)"Hypothecated" all property within the federal United States to the Board ofGovernors of the Federal Reserve, -in which the Trustees (stockholders) heldlegal title. The U.S. citizen (tenant, franchisee) was registered as a"beneficiary" of the trust via his/her birth certificate. In 1933, thefederal United States hypothecated all of the present and future properties,assets and labor of their "subjects," the 14th Amendment U.S. citizen, tothe Federal Reserve System.
In return, the Federal Reserve System agreed to extend the federal UnitedStates corporation all the credit "money substitute" it needed. Like anyother debtor, the federal United States government had to assign collateraland security to their creditors as a condition of the loan. Since thefederal United States didn't have any assets, they assigned the privateproperty of their "economic slaves", the U.S. citizens as collateral againstthe un-payable federal debt. They also pledged the unincorporated federalterritories, national parks forests, birth certificates, and nonprofitorganizations, as collateral against the federal debt. All has already beentransferred as payment to the international bankers.
Unwittingly, America has returned to its pre-American Revolution, feudalroots whereby all land is held by a sovereign and the common people had norights to hold allodial title to property. Once again, We the People are thetenants and sharecroppers renting our own property from a Sovereign in theguise of the Federal Reserve Bank. We the people have exchanged one masterfor another.
This has been going on for over eighty years without the "informedknowledge" 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 assetsafter all debts and liabilities have been paid? Why does it feel like youare working harder and harder and getting less and less?
We are reaping what has been sown, and the results of our harvest is apainful bankruptcy, and a foreclosure on American property, preciousliberties, and a way of life. Few of our elected representatives inWashington, D.C. have dared to tell the truth. The federal United States isbankrupt. Our children will inherit this un-payable debt, and the tyranny toenforce paying it.
America has become completely bankrupt in world leadership, financialcredit and its reputation for courage, vision and human rights. This is anundeclared economic war, bankruptcy, and economic slavery of the mostcorrupt order!
Wake up America! Take backyour Country."