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 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 Congressional
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
To silence Traficant, certain members of Congress
found a means to put him in prison on trumped-up charges. The hearings were like
a kangaroo court; whereby, he was not allowed to bring in certain witnesses,
documents, and testimony. Judge Lesley Wells of the U.S. District Court in
Cleveland, Ohio, was
prejudiced toward Traficant and refused to set bail for Traficant, ordering that
service of his term should begin immediately. Denial of bail also sets aside all
pending appeals to Traficant's conviction. Traficant is now serving an eight
year prison sentence in federal prison for his April 11,
2002 conviction on
trumped-up felony charges of bribery, corruption and tax evasion.
By a
vote of 420-1, Traficant was also expelled from the House of Representatives.
House Resolution No. 495 read simply, "Resolved, That, pursuant to article I,
section 5, clause 2 of the United States Constitution, Representative James A.
Traficant, Jr., be, and he hereby is expelled, from the House of
Representatives." Traficant is the second member of the House to be expelled
since the Civil War and the fifth in congressional history. Traficant,
addressing the House, said "I'll go to jail before I resign and admit to
something I didn't do.""
Traficant, A former county sheriff, had been
elected to Congress nine times by the people of his Mahoning Valley, Ohio
district. He plans to run for re-election as an independent candidate and
intends to serve from jail if elected.