AMERICA HAS BEEN, FOR ALL INTENT AND PURPOSE, BANKRUPT SINCE 1933!
THE INTERNATIONAL MONETARY FUND (IMF) MADE THE SAME PRONOUNCEMENT IN JULY, 2010!
Where's the proof?
Tucked away here and there, like in the Emergency Banking Act, March 9, 1933, 48 Stat.1, Public Law 89-179
H.J.R. 192, 73rd congress m session June 5, 1933 which suspended the gold standard and abrogated the gold clause.
The United States went "Bankrupt" in 1933 and was declared so by President Roosevelt who signed Executive Orders 6073, 6102, 6111 and Executive Order 6260, [See: Senate Report 93-549, pgs. 187 & 594 under the "Trading With The Enemy Act" [Sixty-Fifth Congress, Sess. I, Chs. 105, 106, October 6, 1917], and as codified at 12 U .S.C.A. 95a. The several States of the Union then pledged the faith and credit thereof to the aid of the National Government, and formed numerous socialist committees, such as the "Council Of State Governments," "Social Security Administration" etc., to purportedly deal with the economic "Emergency." These Organizations operated under the "Declaration Of INTERdependence" of January 22, 1933, and published some of their activities in "The Book Of The States." The 1937 Edition of The Book Of The States openly declared that the people engaged in such activities as the Farming/Husbandry Industry had been reduced to mere feudal "Tenants" on their Land. [Book Of The States, 1937, pg. 155] This of course was compounded by such activities as price fixing wheat and grains [7 U.S.C.A. 1903], quota regulation I7 U.S.C.A. 1371], and livestock products [7 U.S.C.A. 1903], which have been held consistently below the costs of production; interest on loans and inflation of the paper "Bills of Credit"; leaving the food producers and others in a state of peonage and involuntary servitude, constituting the taking of private property, for the benefit and use of others, without just compensation.
Well, citizens, we have since then been in a permanent state of "Emergency", and the above was clearly instituted, formed and erected within the Union through gross usurpations, abridgments, malfeasance and breach of legal duties, and the continual contrivance, misrepresentation, conversion, fluctuations, fraud and avarice of the International Financial Institutions, Organizations, Corporations and Associations, including the Federal Reserve, their "fiscal and depository agent" 22 U.S.C.A. 286d. This profligate practice has led to such "Emergency" legislation as the "Public Debt Limit-Balance Budget And Emergency Deficit Control Act of 1985", Public Law 99-177, etc.
EVERY President's team has helped to continue and/or enlarge this "Emergency"!
At the signing of the Coinage Act on July 23, 1965, Lyndon B. Johnson stated in his Press Release that:
"When I have signed this bill before me, we will have made the first fundamental change in our coinage in 173 years. The Coinage Act of 1965 supersedes the Act of 1792. And that Act had the title: An Act Establishing a Mint and Regulating the Coinage of the United States ..."
"Now I will sign this bill to make the first change in our coinage system since the 18th Century. To those members of Congress, who are here on this historic occasion, I want to assure you that in making this change from the 18th Century we have no idea of returning to it."
The System has been faltering for eight decades, but maybe we can put a bench mark date of the actual modern-day collapse at August 15, 1971. On this day, President Nixon reversed U.S. international monetary policy by officially declaring the non-convertibility of the U.S. dollar [F.R.N.] into gold." [See: Public Law 94-564, Legislative History, pg. 5937 & Senate Report No. 93-549, Foreword, pg. III. Proclamation No. 4074, pg. 597, 31 U.S.C.A. 314 & 31 U.S.C. A. 5112]
Re-booted by the 1980 Congress and Jimmy Carter, the Capitol Hill Gang passed, among other things, Public Law 96-221, 'providing for the furtherance and expansion of the profligate rehypothecated debt pyramid scheme, and reducing the reserve requirements on "transaction accounts" to a minimum of 3% per centum to a maximum of 14 per centum (See: Depository Institutions Deregulation And Monetary Control Act of 1980, Section 103(b) (E)(2)).
"In the United States neither paper currency nor deposits have value as commodities. Intrinsically, a dollar bill is just a piece of paper. Deposits are merely book entries. Coins do have some intrinsic value as metal, but generally far less than their face amount...."
[Please Note: The Council Of State Governments has now been absorbed into such things as the "National Conference Of Commissioners On Uniform State Laws," whose Headquarter's Office is located at 676 North Street, Clair Street, Suite 1700, Chicago, Illinois 60611, and "all" being "members of the Bar," and operating under a different "Constitution And By-Laws" has promulgated, lobbied for, passed, adjudicated and ordered the implementation and execution of their purported statutory provisions, to "help implement international treaties of the United States or where world uniformity would be desirable." [See: 1990/91 Reference Book, National Council Of Commissioners On Uniform State Laws, pg. 2] This is apparently what Robert Dork meant when he wrote "we are governed not by law or elected representatives but by an unelected, unrepresentative, unaccountable committee of lawyers applying no will but their own." See: The Tempting Of America. Robert H. Bork. pg. 130]
The United States, as Corporator, [22 U.S.C.A. 286e, et seq.] and "State" [C. (Colorado) R.S. 24-36-104, C.R. S. 24-60-1301(h)] had declared "Insolvency." [See: 26 I.R.C. 165(g)(1), U.C.C. 1-201(23), C.R.S. 39-22-103.5, Westfall vs, Braley, 10 Ohio 188, 75 Am. Dec. 509, Adams vs. Richardson, 337 S.W.2d 911 Ward vs. Smith, 7 Wall 447] A permanent state of "Emergency" was instituted, formed and erected within the Union through the contrivances, fraud, and avarice of the International Financial Institutions, Organizations, Corporations and Associations, including the Federal Reserve, their "fiscal and depository agent." [22 U.S.C.A. 286d] This has lead to such "Emergency" legislation is the "Public Debt Limit- Balance Budget And Emergency Deficit Control Act of 1985," Public Law 99-177, etc.
The government, by becoming a corporator, [See: 22 U.S.C.A. 286(e)] lays down its sovereignty and takes on that of a private citizen. It can exercise no power which is not derived form the corporate charter. [See: The Bank of the United States vs. Planters Bank of Georgia, 6 L.Ed. (9 Wheat) 244, U.S. vs. Burr, 309 U.S. 242] The real party of interest is not the de jure "United States of America" or "State," but "The Bank" and 'The Fund." [22 U.S.C.A. 286, et seq., C. (Colordo) R.S. 11-60- 103] The acts committed under fraud, force, and seizures are many times done under "Letters of Marque and Reprisal" i.e. "recapture." [See: 31 U.S.C.A. 5323] Such principles as "Fraud and Justice never dwell together" [Wingate's Maxims 680], and "A right of action cannot arise out of fraud." [Broom's Maxims 297, 729; Cowper's Reports 343; 5 Scott's New Reports 558; 10 Mass. 276; 38 Fed. 800,] And do not rightfully contemplate the thought concept, as "Due Process," "Just Compensation" and Justice itself. Honor is earned by honesty and integrity, not under false and fraudulent pretenses, nor will the color of the cloth one wears cover-up the usurpations, lies, trickery, and deceits. When Black is fraudulently declared to be White, not all will live in darkness. As astutely observed by Will Rogers, "there are men running governments who shouldn't be allowed to play with matches," and is as applicable today as then.
The contrived "emergency" has created numerous abuses and usurpations, and abridgments of delegated Powers and Authority. As stated in Senate Report 93-549:
"These proclamations give force to 470 provisions of Federal law. 470!!!
These hundreds of statutes delegate to the President extraordinary powers, ordinarily exercised by the Congress, which affect the lives of American citizens in a host of all-encompassing manners. This vast range of powers, taken together, confer enough authority to rule the country without reference to normal constitutional process.
"Under the powers delegated by these statutes, the President may; seize property; organize and control the means of production; seize commodities; assign military forces abroad; institute martial law; seize and control all transportation and communication; regulate the operation of private enterprise; restrict travel; and in a plethora of particular ways, control the lives of all American citizens."
George H. W. Bush's public address of September 11, 1991 [See: Weekly Compilation Of Presidential Documents] should further qualify what is being said here. He admitted "Interdependence" [See also: Public Law 94-564, Legislative History, pg. 5950], "One World Order" [See also: Extension Of Remarks, January 19, 1976, Marjorie S. Holt, 8 U.S.C.A. 1101(40)], affiliation and collusion with the Soviet Union Oligarchy [50 U.S.C.A. 781], direction by the U.N., 22 U.S.C.A. 611, etc...
You might also find it interesting that Treasury Delegation Order No. 92 states that the I.R.S. is trained under direction of the Division of "Human Resources" (U.N.) and the Commissioner (INTERNATI0NAL), by the "Office Of Personnel Management." In the 1979 Edition of 22 U.S.C.A. 287, the United Nations, at pg. 248, you will find Executive Order No. 10422. The Office of Personnel Management is under direction of the Secretary General of the United Nations. And as stated previously, the I.R.S. is also a member in a one hundred fifty (150) Nation pact called the "International Criminal Police Organization'" found at [22 U.S.C.A. 263a]. The "Memorandum & Agreement" between the Secretary of Treasury/Corporate Governor of "The Fund" and "The Bank" and the Office of the U.S. Attorney General would indicate that the Attorney General and his associate are soliciting and collecting information for Foreign Principals. [See also, The United States Government Manual 1990/91, pg. 385, also see, The Ron Paul Money Book, supra, pgs. 250, 251]
It is worthy of note that each and every Attorney/Representative, Judge or Officer is required to file a "Foreign Agents Registration Statement" pursuant to [22 U.S.C.A. 611(c)(I)(iv) & 612], if representing the interests of a Foreign Principal or Power. [See: 22 U.S.C.A. 613, Rabinowitz vs. Kennedy, 376 U.S. 605, 11 L.Ed.2d 940, 18 U.S.C.A. 219 & 951]
The below is taken from
RE:SENATE REPORT NO. 93-549, Etc.
by John Nelson
<<On January 17, 1980, the President and Senate confirmed another "Constitution," namely, the "Constitution Of The United Nations Industrial Development Organization," found at Senate, Treaty Document No. 97-19, 97th Congress, 1st Session. A perusal of this Foreign Constitution should more than qualify the internationalist intents. The "Preamble," Article 1, "Objectives," and Article 2, "Functions," clearly evidences their intent to direct, control, finance and subsidize all "natural and human resources" and "agro-related as well as basic industries," through "dynamic social and economic changes" "with a view to assisting in the establishment of a new international economic order."
The high flown rhetoric is obviously of "Communist-thinking" origin and intents. An unelected, unrepresentative, unaccountable oligarchy of expatriates and aliens, who fraudulently claim, in the Preamble, that they intend to establish "rational and equitable international economic relations," yet openly declared that they no longer "stabilize the value of the dollar" nor "assure the value of the coin and currency of the United States" is purely misrepresentation, deceit and fraud. [See: Public Law 95-147, 91 Stat. 1227, at pg. 1229] This was augmented by [Public Law 101-167], 103 Stat. 1195, which discloses massive appropriations of rehypothecated debt for the general welfare and common defense of other Foreign Powers, including "Communist" countries or satellites, International control of natural and human resources, etc. etc.. A "Resource" is a claim of "property" "and when related to people constitutes 'slavery'."
It is now necessary to ask, "Which Constitution they are operating under?
Apparently the present operation of the "de facto" government is under Foreign/Alien Constitutions, Laws, Rules, and Regulations. The overthrow of the "essential engine" declared in and by the ordained and established Constitution for the United States of America (1787), and by and under the "Bill of Rights" (1791) is obvious. The covert procedure used to implement and enforce these Foreign Constitutions, Laws, Procedures, Rules, Regulations, etc., has not, to my knowledge, been collected and assimilated nor presented as evidence to establish seditious collusion and conspiracy.
They have "fundamentally" changed the form and substance of the de jure Republican form of Government, exhibited a willful and wanton disregard for the Rights, Safety, and Property of others, evinced a despotic design to reduce my people to slavery, peonage and involuntary servitude, under a fraudulent, tyrannical, seditious foreign oligarchy, with intent and purpose to institute, erect and form a "Dictatorship" over the Citizens and our Posterity. They have completely debauched the de jure monetary system, destroyed the Livelihood and Lives of thousands, aided and abetted our enemies, declared War upon us and our Posterity, destroyed untold families.
[[OUR OWN CONGRESSMEN AND PRESIDENTS, ALL MEMBERS OF THE FEDERAL RESERVE, TREASURY AGENTS, ALL]] have taken false Oaths, entered into Seditious Foreign Constitutions, Agreements, Pacts, Confederations, and Alliances, and under pretense of "emergency," which they themselves created, promoted and furthered, formed a multitude of offices and retained those of alien allegiance to perpetuate their frauds and to eat out the substance of the good and productive people of our Land, and have arbitrarily dismissed and held mock trials for those who trespassed upon our lives, Liberties, Properties, and Families and endangered our Peace, Safety, Welfare, and Dignity. The damage, injury and costs have been higher than mere money can repay. They have done that which they were COMMANDED NOT TO DO. The time for just correction is NOW!
Sincere consideration of "Presentment" to a Grand Jury under the ordained and established Constitution for the United States of America (1787), Amendment V is in order. Numerous High Crimes and Misdemeanors have been committed under the Constitution for the United States of America, and Laws made in Pursuance thereof, and under the Constitution for the States, and the laws made in Pursuance thereof, and against the Peace and Dignity of the People including, but not limited to, C. (Colorado) R.S. 18-11-203 which defines and prescribes punishment for "Seditious Associations" which is applicable to the other constitutions, and the intents and professed purposes of their Organizations, Corporations and Associations. If the Presentment should be obstructed by the members of the Bar, ARREST THEM.>> <end Nelson quote>
Laurence Kotlikoff , in an article in Bloomberg,
August 10, 2010, wrote: <<Let’s get real. The U.S. is
bankrupt. Neither spending more nor taxing less will help the
country pay its bills.
Last month, the International Monetary Fund released its
annual review of U.S. economic policy. Its summary contained
these bland words about U.S. fiscal policy: “Directors welcomed
the authorities’ commitment to fiscal stabilization, but noted
that a larger than budgeted adjustment would be required to
But delve deeper, and you will find that the IMF has
effectively pronounced the U.S. bankrupt. Section 6 of the July
2010 Selected Issues Paper says: “The U.S. fiscal gap
associated with today’s federal fiscal policy is huge for
plausible discount rates.” It adds that “closing the fiscal
gap requires a permanent annual fiscal adjustment equal to about
14 percent of U.S. GDP.”
The fiscal gap is the value today (the present value) of
the difference between projected spending (including servicing
official debt) and projected revenue in all future years.
My reaction? Get real, or go hang out with equally deluded supply-siders. Our country is broke and can no longer afford no- pain, all-gain “solutions.” [http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html ]
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."
John F. Kennedy issued Executive Order 11110, requiring the Treasury Department to start printing and issuing silver certificates for the silver then remaining in the US Treasury. Kennedy understood, as did Lincoln, that by returning to the constitution, which states that only Congress shall coin and regulate money, the soaring national debt could be reduced by not paying interest to the bankers of the Federal Reserve System, who print paper money then loan it to the government at interest. This was the reason he signed Executive Order 11110 which called for the issuance of $4,292,893,815 in United States Notes through the U.S. Treasury rather than the Federal Reserve System.
That same day, Kennedy signed a bill changing the backing of one and two dollar bills from silver to gold, adding strength to the weakened U.S. currency.
Kennedy's comptroller of the currency, James J. Saxon, had been at odds with the powerful Federal Reserve Board for some time, encouraging broader investment and lending powers for banks that were not part of the Federal Reserve system. Saxon also had decided that non-Reserve banks could underwrite state and local general obligation bonds, again weakening the dominant Federal Reserve banks".
Kennedy's E.O. was never implemented following his assassination, and shortly afterwards, United States silver coins were taken out of circulation and replaced with the copper clad slugs in use today. These two events, the failure to print new silver certificates, and the substitution of worthless slugs for our silver coins, may explain why the Warren Commission included on its panel John J. McCloy, a man with no experience in crime, law enforcement, or national security, but who had been the President of the Chase Manhattan Bank.
It should be noted that the banks themselves are still using the gold standard. Accounts are still settled between major national banks by the transfer of gold bullion.
So here we are with a bank that legally counterfeits the money you borrow but expects a full value (plus interest) repayment. But what's good for the Federal Reserve is good for the government itself, and this is where we get back into that funny word "deficit spending". The government spends more money than it takes in. It has for many years now. The Federal Reserve, being the only lawful source of this fiat money, prints up the excess cash the government needs (or manufactures a credit line in a computer). This extra cash is treated as a loan, in order to keep the government overspending from further eroding the worth of the dollar in the world market. The government (meaning the taxpayers) is on the hook for the full face value, plus interest.
But there's another problem. The government is borrowing so much money that it drives the interest rates up! You pay MORE interest on your mortgage, car loan, and credit cards, because the government cannot balance its books. That extra interest you pay is therefore another hidden tax. The government, in its "generosity", gives you a tax credit on mortgage interest that is higher because of their own borrowing!
During the 80s, as exports dropped, and jobs moved from manufacturing to lower paying "service sector" jobs, the US tax base declined. In order to keep the jobless rate from rising, a massive defense program called the Strategic Defense Initiative was cranked up, but since this program produced no exportable product, it produced no taxable sales revenues, and hence the money poured into the project accelerated the government decline into debt. Because manufacturing was on the decline, fewer start-up companies were approaching the lending institutions, so the government loosened up the rules (while increasing the insurable deposit limit) to allow "investments" in more high risk ventures, most of which turned out to be frauds, or worse, money laundering operations for drug criminals. This includes Whitewater, Flowerwood, and Castle Grande. Despite shifting the S&L loss primarily onto the taxpayers (to reassure foreign investors that the taxpayers still made America a safe place to park their surplus cash) the government plunged further into debt.
In the 12 years of the Reagan/Bush(I) administrations, the United States went from being the world's largest creditor nation to the world's largest debtor.
IT HAS BEEN A DOWNHILL PLUNGE FROM THERE OF ENORMOUS PROPORTIONS!
THERE IS NO GOING BACK!
AMERICA IS BANKRUPT!
RON PAUL AND COUNTLESS OTHERS SAID SO ON THE FLOOR OF CONGRESS.
AMERICA IS BANKRUPT, BUT NO ONE AT THE HELM HAS HAD THE BRASS TO POINT TO THE FACTS AND CHANGE ONE BLOODY THING!
MAYBE THEY DON'T WANT TO WIND UP LIKE JFK????
THERE IS NO TURNING IT AROUND!
ALL WE CAN DO NOW IS WAIT FOR THE OTHER SHOE TO DROP, TO TELL US WE ARE IN THE HANDS OF AN INTERNATIONAL BANKING CARTEL THAT WILL NOW CLOSE THE DOORS OF THIS NATION'S ECONOMY.
"Nos morituri te salutamus"