Pat Toomey, Chris Van Hollen, Neil Barofsky, Austan Goolsbee, Grover Norquist, Kim Strassel.
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2 Responses to “Panel II: Is the U.S. Headed Toward Bankruptcy?”
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Sorry to tell you this – but he US has been IN bankruptcy since 1933.
http://www.apfn.net/doc-100_bankruptcy.htm
Subject: .The Bankruptcy of The United States
United States Congressional Record, March 17, 1993 Vol. 33, page H-1303
THIS IS IMPORTANT!!!!
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.” Un-payable 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 un-payable 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 un-payable 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.”
[ IS IT ANY WONDER THAT THE “ELITE” ARE OUT TO DESTROY REP TRAFICANT? He
is hitting the Socialist CFR/TC and the Communist UN where it hurts! LMsr. ]
Image: United States Congressional Record, March 17, 1993 Vol. 33, page H-1303
Added by: Chester L McWhorter Sr: Forming the Federal Reserve System are the
primary Federal Reserve “Banks” of: Boston, New York, Philadelphia,
Cleveland, Richmond, Atlanta, Chicago, St Louis, Minneapolis, Kansas City,
Dallas, and San Francisco. These banks are not real banks..you cannot cash a
check there, open an account, etc. These “banks” are also holding companies
of smaller banks.
In all of this discussion about income tax, we should be ever mindful of the
fact that CONGRESS is the key. CONGRESS votes to spend the money. Congress
gives the IRS its power. Congress gives the IRS its OWN budget. Congress is
elected by the people. The IRS is A DECOY.
[Contd]
Read whole story here:
http://www.apfn.net/Doc-100_bankruptcy.htm