The Bankruptcy of The United States
United States , 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 coroners 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
- 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 didnt 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
un-incorporated 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 its easy to grasp why America is fundamentally bankrupt.
- Why dont 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
- United States Congressional Record, March 17, 1993 Vol. 33, page H-1303
Last Modified March 5, 2001
"The Creature from Jekyll Island" by G. Edward Griffin is
probably the best book on the Federal Reserve and the banking system of the
world. He covers what a bailout really is? He covers the
International Monetary Fund and the World Bank. He also covers the reality
of how Socialism ruins a country and destroys a countries' economy by removing
wealth from the wealthier countries and giving it to the poorer countries.
These poorer countries use the money to boost the size of their government and
the reality is that the people never see one penny of the money which is given
to these dictators in small countries. The International Banking system is
designed to reduce the wealth of our nation and reduce our living standard.
This book will help you understand what is really happening at the present time.
It is not chance but a planned destruction of the United States to bring it into
the New World Order as a reduced third world nation. If you don't think
this is happening now, then go back and watch your sports.