have, in this country, one of the most corrupt institutions the world
has ever known. I refer to the Federal Reserve Board. This evil
institution has impoverished the people of the United States and has
practically bankrupted our government. It has done this through the
corrupt practices of the moneyed vultures who control it"
Congressman Louis T. McFadden in 1932 (Rep. Pa)
is well enough that people of the nation do not understand our
banking and monetary system, for if they did, I believe there would
be a revolution before tomorrow morning."
ARTICLE 1, SECTION 10 of the American Constitution"No state shall make anything but GOLD & SILVER coin a tender in payment of debts."Title 12, U.S. Code, Section 152"The terms ´lawful money´ or ´lawful money of the U.S.' shall be construed to mean GOLD or SILVER COIN of the U.S."Coinage Act of 1792Congress fixed the dollar as a specific weight of silver and gold in the form of coin.THIS MEANS. . .
If there is no SILVER or GOLD; then there is no dollar!
A Dollar is a unit of measure, just like an inch, a quart or a mile. This unit of measure can´t replace or become the "THING" for which it is the measure. George Orwell (1984) called this the "double think." Money has become just that!
circulating Federal Reserve Note] represents a one dollar debt to the Federal Reserve
Money Facts, House Banking and Currency Committee
the American people ever allow private banks to
control the issues of their currency, first by inflation and then by
deflation, the banks and corporations that will grow up around them
will deprive the people of all property until their children wake up
homeless on the continent their fathers conquered" Thomas
Click to Read
In seventeenth century Europe, trade was conducted primarily in gold and silver coins.
Coins were durable and had value in themselves, but they were hard to transport in bulk and could be stolen if not kept under lock and key. Many people therefore deposited their coins with the goldsmiths, who had the strongest safes in town. The goldsmiths issued convenient paper receipts that could be traded in place of the bulkier coins they represented.
These receipts were also used when people who needed coins came to the goldsmiths for loans.
The mischief began when the goldsmiths noticed that only about 10 to 20 percent of their receipts came back to be redeemed in gold at any one time. They could safely "lend" the gold in their strongboxes at interest several times over, as long as they kept 10 to 20 percent of the value of their outstanding loans in gold to meet the demand.
They thus created "paper money" (receipts for loans of gold) worth several times the gold they actually held. They typically issued notes and made loans in amounts that were four to five times their actual supply of gold.
At an interest rate of 20 percent, the same gold lent five times over produced a 100 percent return every year, on gold the goldsmiths did not actually own and could not legally lend at all. If they were careful not to overextend this "credit," the goldsmiths could thus become quite wealthy without producing anything of value themselves.
Since only the principal was lent into the money supply, more money was eventually owed back in principal and interest than the townspeople as a whole possessed.
They had to continually take out loans of new paper money to cover the shortfall, causing the wealth of the town and eventually of the country to be siphoned into the vaults of the goldsmiths-turned-bankers, while the people fell progressively into their debt.
Following this model, in nineteenth century America, private banks issued their own banknotes in sums up to ten times their actual reserves in gold. This was called "fractional reserve" banking, meaning that only a fraction of the total deposits managed by a bank were kept in "reserve" to meet the demands of depositors. But periodic runs on the banks, when the customers all got suspicious and demanded their gold at the same time, caused banks to go bankrupt and made the system unstable. In 1913, the private banknote system was therefore consolidated into a national banknote system under the Federal Reserve (or "Fed"), a privately-owned corporation given the right to issue Federal Reserve Notes and lend them to the U.S. government.
These notes, which were issued by the Fed basically for the cost of printing them, came to form the basis of the national money supply. Twenty years later, the country faced massive depression. The money supply shrank, as banks closed their doors and gold fled to Europe. Dollars at that time had to be 40 percent backed by gold, so for every dollar's worth of gold that left the country, 2.5 dollars in credit money also disappeared. To prevent this alarming deflationary spiral from collapsing the money supply completely, in 1933 President Franklin Roosevelt took the dollar off the gold standard. Today the Federal Reserve still operates on the "fractional reserve" system, but its "reserves" consist of nothing but government bonds (I.O.U.s or debts). The government issues bonds, the Federal Reserve issues Federal Reserve Notes, and they basically swap stacks, leaving the government in debt to a private banking corporation for money the government could have issued itself, debt-free.
The United States fought the war of the American Revolution primarily over the Currency Act of King George III, which forced the colonists to conduct their business only using printed bank notes borrowed from the Bank of England at interest. After the revolution, the new United States adopted a radically different economic system in which the government issued its own value-based money, so that private banks like the Bank of England were not siphoning off the wealth of the people through interest-bearing bank notes.
"The refusal of King George 3rd to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the revolution". Benjamin Franklin, Founding Father
But bankers are nothing if not dedicated to their schemes to acquire your wealth, and they know how easy it is to corrupt the leaders of a nation. Just one year after Mayer Amschel Rothschild had uttered his infamous statement: "Let me issue and control a nation's money and I care not who makes the laws", the bankers succeeded in setting up a new Private Central Bank called the First Bank of the United States, largely through the efforts of the Rothschild's chief US supporter, Alexander Hamilton.
Founded in 1791, by the end of its twenty year charter the First Bank of the United States had almost ruined the nation's economy, while enriching the bankers. Congress refused to renew the charter and signaled their intention to go back to a state-issued value-based currency on which the people paid no interest at all to any banker. This resulted in a threat from Nathan Mayer Rothschild against the US Government: "Either the application for renewal of the charter is granted, or the United States will find itself involved in a most disastrous war". Congress still refused to renew the charter for the First Bank of the United States, whereupon Nathan Mayer Rothschild railed, "Teach those impudent Americans a lesson! Bring them back to colonial status!"
Financed by the Rothschild-controlled Bank of England, Britain then launched the war of 1812 to re-colonize the United States and force them back into the slavery of the Bank of England, or to plunge the United States into so much debt they would be forced to accept a new private central bank. The plan worked. Even though the War of 1812 was won by the United States, Congress was forced to grant a new charter for yet another private bank issuing the public currency as loans at interest, and that was the Second Bank of the United States. Once again, private bankers were in control of the nation's money supply and cared not who made the laws or how many British and American soldiers had to die for it.
Once again the nation was plunged into debt, unemployment, and poverty through the plundering of the private central bank, and in 1832 Andrew Jackson successfully campaigned for his second term as President under the slogan, "Jackson And No Bank!" True to his word, Jackson succeeds in blocking the renewal of the charter for the Second Bank of the United States.
"Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! If I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out!" -- Andrew Jackson, shortly before ending the charter of the Second Bank of the United States. From the original minutes of the Philadelphia committee of citizens sent to meet with President Jackson (February 1834), according to Andrew Jackson and the Bank of the United States (1928) by Stan V. Henkels
Shortly after President Jackson (the only American President to actually pay off the National Debt) ended the Second Bank of the United States, there was an attempted assassination which failed when both pistols used by the assassin, Richard Lawrence, failed to fire. Lawrence later said that with Jackson dead, "Money would be more plenty".
When the Confederacy seceded from the United States, the bankers once again saw the opportunity for a rich harvest of debt, and offered to fund Lincoln's efforts to bring the south back into the union, but at 30% interest. Lincoln remarked that he would not free the black man by enslaving the white man to the bankers and using his authority as President, he issued a new government currency, the "greenback”. This was a direct threat to the wealth and power of the central bankers, who responded quickly.
"If this mischievous financial policy, which has its origin in North America, becomes entrenched, then that Government will issue it’s own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on it’s commerce. It will become prosperous to a degree which is without precedent in the history of the world. The brains, and wealth of all countries will migrate to North America. That country must be destroyed or it will destroy every monarchy on the globe". The London Times responding to Lincoln's decision to issue government Greenbacks to finance the Civil War, rather than agree to private banker's loans at 30% interest.
In 1872 New York bankers sent a letter to every bank in the United States, urging them to fund any newspapers which opposed government-issued money (Lincoln's greenbacks): "Dear Sir: It is advisable to do all in your power to sustain such prominent daily and weekly newspapers... as will oppose the issuing of greenback paper money, and that you also withhold patronage or favours from all applicants who are not willing to oppose the Government issue of money. Let the Government issue the coin and the banks issue the paper money of the country...To restore to circulation the Government issue of money, will be to provide the people with money, and will therefore seriously affect your individual profit as bankers and lenders". Triumphant plutocracy; the story of American public life from 1870 to 1920, by Lynn Wheeler
"It will not do to allow the greenback, as it is called, to circulate as money any length of time, as we cannot control that." Triumphant plutocracy; the story of American public life from 1870 to 1920, by Lynn Wheeler
"Slavery is likely to be abolished by the war, power, and chattel slavery destroyed. This, I and my European friends are in favour of, for slavery is but the owning of labour and carries with it the care for the labourer, while the European plan, led on by England, is for capital to control labour by controlling the wages. THIS CAN BE DONE BY CONTROLLING THE MONEY
". Triumphant plutocracy; the story of American public life from 1870 to 1920, by Lynn Wheeler
Goaded by the private bankers, much of Europe supported the Confederacy against the Union, with the expectation that victory over Lincoln would mean the end of the Greenback. France and Britain considered an outright attack on the United States to aid the confederacy, but were held at bay by Russia, which had just ended the serfdom system and had a state central bank similar to the system the United States had been founded on. Left free of European intervention, the Union won the war, and Lincoln announced his intention to go on issuing greenbacks. Following Lincoln's assassination, the Greenbacks were pulled from circulation and the American people forced to go back to an economy based on bank notes borrowed at interest from the private bankers.
Finally, in 1913, the Private Central Bankers of Europe, in particular the Rothschilds of Great Britain and the Warburgs of Germany, met with their American financial collaborators on Jekyll Island, Georgia to form a new banking cartel with the express purpose of forming the Third Bank of the United States, with the aim of placing complete control of the United States money supply once again under the control of private bankers. Owing to hostility over the previous banks, the name was changed to "The Federal Reserve" system in order to grant the new bank a quasi-governmental image, but in fact it is a privately owned bank, no more "Federal" than Federal Express. Indeed, in 2012, the Federal Reserve successfully rebuffed a Freedom of Information Lawsuit by Bloomberg News on the grounds that as a private banking corporation and not actually a part of the government, the Freedom of Information Act did not apply to the operations of the Federal Reserve. The year 1913 proved to be a transformative year for the nation's economy, first with the passage of the 16th "income tax" Amendment and the false claim that it had been ratified.
"I think that if you were to go back and try top find and review the ratification of the 16th Amendment, which was the internal revenue, the income tax, I think that if you went back and examined that carefully, you would find that a sufficient number of States never ratified that Amendment”. U.S. District Court Judge James C. Fox (Sullivan vs United States, 2003).
Later in 1913 on December 23rd, apparently unwilling to risk another questionable amendment, Congress passed the Federal Reserve Act, due to bribes from the bankers, over the Christmas holiday, while members of Congress who were opposed to the measure were at home. This was a very underhanded deal, as the Constitution which explicitly grants Congress the authority to issue the public currency, does not authorize it to delegate that authority, and so it should have required a new Amendment to allow Congress to transfer that authority to a private bank. But Congress did pass it, and President Woodrow Wilson signed it (as he had promised the bankers that he would, in exchange for generous campaign contributions). Wilson later regretted that decision, stating: "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of a small group of dominant men”. – Woodrow Wilson 1919.
The next year, World War One started, and it is important to remember that prior to the creation of the Federal Reserve, there was no such thing as a world war.
The Federal Reserve Is NOT A Government Agency
"The Federal Reserve System virtually control's the nation's monetary system, yet it is accountable to no one. It has no budget, it is subject to no audit, and no Congressional Committee knows of, or can truly supervise its operations."
"The Federal Reserve is not an agency of Government. It is a private banking monopoly.. The policies of the monarch are always those of his creditors." Congressman John. R. Rarick
Some people think of the Federal Reserve Banks as United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial "boom" followed by a recession or depression when the Fed-created bubble bursts.
From the Great Depression, to the stagflation of the seventies, to the burst of the dotcom bubble, to the housing market crisis, every economic downturn suffered by the country
over the last 80 years can be traced to Federal Reserve policy.
is totally unconstitutional to collect a direct tax, in the 50
states, without apportionment. What is apportionment - "To
divide and distribute proportionally". "Apportionment. The
process by which legislative seats are distributed among units
entitled to representation. The U.S. Constitution provides for a
census every ten years, on the basis of which Congress apportions
representatives according to population; but each state must have at
least one representative."
1, Section 2, Clause 3: "Representatives and direct taxes shall
be apportioned among the states which may be included within this
Union, according to their respective numbers..."
1, Section 9, Clause 4: "No capitation, or
other direct tax,
shall be laid, unless in proportion to the census or enumeration
herein before directed to be taken."
Direct taxes must be
apportioned among the states, not among the people. The 16th
Amendment did not change this! As we learned, the income tax is an
excise tax on corporate profit, and always has been, therefore it
does not need to be apportioned. Before the 16th Amendment, an
individual's income was NOT taxable, either with apportionment or
without. Eliminating apportionment, among the states, would still
require the tax to be imposed on the states, not on the people.
better understand this concept, take a look at an example of
taxation by apportionment here.
creates and issues money to the United States. It is a cartel of
private bankers overseen by elite super-wealthy financiers such as
the Rockefellers, Mellons, DuPonts, Rothschilds, etc, which
dictates to the government the flow of money, worth of money,
and the interest rates. America's financial system is based on fiat
money- it has no
but has been merely declared to have value. It
is not backed by any kind of asset (like silver or gold).
Worthless fiat money is accompanied by 'legal tender' laws. This
means that there
is law requiring everyone to accept the money in
commerce, under the
threat of fine or imprisonment.
The Federal Reserve System is a cartel; not a government owned
agency. A cartel is an agreement between parties to abstain from
competition with each other. Like OPEC, no one owns "the Fed",
it is merely an agreement between private parties. The Federal
creates money based
on the promise of the government to repay the money created. It is a
Long ago, gold merchant bankers discovered
that when they held gold for their clients, the clients retrieved
their gold only 10% of the time, preferring to keep it in a safe
warehouse. So the gold merchants began to create credit receipts
based on their clients' gold deposits, and collected interest on it.
Since that time, bankers have used
"fractional reserves", retaining
a percentage (fraction) of the gold or money deposited (reserves)
with them and creating receipts for many times the amount of money
deposited. In modern times, the fractional reserve trick is used by
commercial banks to create money out of thin air, usually at a
The deposit is kept at the bank as the "reserve" and new
money is made through creative bookkeeping: 9 times the amount of the
deposit is magically entered into the asset column and the bank then
makes this new money available for loans. Collectivist bankers have
engineered the financial
in order to bankrupt individuals, cities, counties and states in
order to make them dependent upon the federal government. The
federal government is ever expanding, and contrary, in most cases, to
the Constitution, which was designed to limit Congress. The federal
government has deep ties with the
United Nations, which
is the capital of the Roman
notes are worthless because there is nothing whatsoever backing the
money, such as gold or silver. The US receives its money from the
FED, and with it, an interest rate so high that national
assured. The Federal Reserve Bank is not owned by the US Government.
It is owned by those elite private bankers. This
was not the first attempt the elite made to create a central bank.
No less than three times did they manage to create a central bank,
but on all three occasions, the bank was abolished due to fraudulent
activities of the bankers.
Federal Reserve System loans money to entire countries, with
interest, and this interest is supposedly paid off by taxing the
labor of that countries citizens. Many
people believe that taxes support the infrastructure and
that without taxes there would be no roads, no schools, and the
country would fall apart, but this is not true. The government has
the right to coin it's own money and control it's value, but it does
not. It instead borrows money. Every citizen who has a job is
essentially forced to give away three months worth of wages. And that
tax money goes right into the pockets of those who run the world's
bank. When we move to a cashless society, which is where the world
is headed, then this tax money will be automatically deducted from
your account whether your actually owe it or not. Their plan is to
get rid of paper money entirely, so that all money will essentially
be "electronic money”. Money that you cannot see, or touch.
As President, John F. Kennedy understood the predatory nature of private central banking. He understood why Andrew Jackson fought so hard to end the Second Bank of the United States. So Kennedy wrote and signed Executive Order 11110 which ordered the US Treasury to issue a new public currency, the United States Note.
Kennedy's United States Notes were not borrowed form the Federal Reserve but created by the US Government and backed by the silver stockpiles held by the US Government. It represented a return to the system of economics the United States had been founded on, and was perfectly legal for Kennedy to do. All told, some four and one half billion dollars went into public circulation, eroding interest payments to the Federal Reserve and loosening their control over the nation. Five months later John F. Kennedy was assassinated in Dallas Texas, and the United States Notes pulled from circulation and destroyed (except for samples held by collectors). John J. McCloy, President of the Chase Manhattan Bank, and President of the World Bank, was named to the Warren Commission, presumably to make certain the banking dimensions behind the assassination were concealed from the public.
The real agenda is simple. It is enslavement of the people by the creation of a false sense of obligation. That obligation is false because the Private Central Banking system, by design, always creates more debt than money with which to pay that debt. Private Central Banking is not science, it is a religion; a set of arbitrary rules created to benefit the priesthood, meaning the owners of the Private Central Bank. The fraud persists, with often lethal results, because the people are tricked into believing that this is the way life is supposed to be and no alternative exists or should be dreamt of. The same was true of two earlier systems of enslavement, ‘Rule by Divine Right’ and ‘Slavery’, both of which are systems designed to trick people into obedience, and both of which are now recognized by modern civilization as illegitimate. Now we are entering a time in human history where we will recognize that ‘rule by debt’, or rule by Private Central Bankers issuing the public currency as a loan at interest, is equally illegitimate. It only works as long as people allow themselves to believe that this is the way life is supposed to be.
But understand this above all else, Private Central Banks do not exist to serve the people, the community, or the nation. Private Central Banks exist to serve their owners, to make them rich beyond the dreams of Midas and all for the cost of ink, paper, and the right bribe to the right official.
Behind all these wars, all these assassinations, the hundred million horrible deaths from all the wars lies a single policy of dictatorship. The private central bankers allow rulers to rule only on the condition that the people of a nation remain enslaved to the private central banks. Failing that, any ruler will be killed, and their nation invaded by those other nations which are already enslaved to private central banks.
The so-called "clash of civilizations" we read about on the corporate media is really a war between banking systems, with the private central bankers forcing themselves on to the rest of the world, no matter how many millions must die for it. Indeed the constant hate-mongering against Muslims lies in a simple fact. Like the ancient Christians (prior to the Knights Templar's private banking system), Muslims forbid usury (the lending of money at interest), and that is the reason why the American government and media insist that Muslims must be killed or converted. They refuse to submit to currencies issued at interest. They refuse to be debt slaves. So off to war American children must go, to spill their blood for the gold of the money-junkies. We barely survived the last two world wars. In the nuclear/bio weapon age, are the private central bankers willing to risk incinerating the whole planet just to feed their greed? Apparently so.
International Monetary Fund
claimed to help poorer countries but it's goal was to purposely get
certain countries in to unpayable depth.. to control them. There
were many international trade agreements set up after World War II to
"help international economic cooperation." Of course the
people believed these lies and accepted these agreements with open
arms, only to end up bankrupt. Don't doubt that they would pull on
over on their own citizens. They do it all the time.
The World Bank and the International Monitory Fund play a key role in controlling the oil, minerals, agriculture, natural resources, and other sellable goods developed from the land of the people as a condition of loaning them money. The International Monitory Fund makes it clear that if a country wants money it has to privatize its resources and has to adopt their government to which is desirable by the United States. The World Bank may not be as it seems. It, similar to the International Monitory Fund, facilitates the sales of weapons and privatizes a country’s natural resources and creates debt by which to control the country for generations.
Speaker-Rep. James Traficant, Jr. (Ohio) addressing the House:
"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 (IMF). 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). Whenever 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."
Click here for a very interesting Chicago Tribune cartoon from 1934