Geithner: Auditing the Fed is a "line that we don't want to cross"

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End the Fed!

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$500,000,000,000?" Bernanke: "I Don't Know."

"The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance 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 their Property until their Children will wake up homeless on the continent their Fathers conquered." - Thomas Jefferson

The Federal Reserve is not part of our government. It is a private banking cartel that was illegally given exclusive license to counterfeit. They do not answer to our government, and thanks to them we are all basically debt slaves. The IRS is their collection agency. Check out the Grace Commission Report:
http://famguardian.org/Subjects/Taxes/Research/GraceCommissionReports.pdf

"With two-thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government." - from the Grace Commission Report

We need to rid ourselves of both the Federal Reserve and the IRS. They have been stealing from all of us for decades.

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Ron Paul: 'Audit the Fed'!

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Federal Reserve and IRS = private corporations!

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Bring Some Accountability to the Federal Reserve

Quick, get in the chopper!

Rep. Alan Grayson is urging his Democratic party colleagues to join him in cosponsoring HR 1207:

Dear Colleague,

I write to ask you to co-sponsor HR 1207, the Federal Reserve Transparency Act, which would give the Government Accountability Office the authority to audit the Federal Reserve and its member components and require a report to Congress by the end of 2010.

The Federal Reserve System operates as the central bank for the United States, managing the economy’s money supply and overseeing the banking system. Until recently, the Fed has not picked winners and losers when distributing money, nor has it brought credit risk onto its balance sheet. It has slowed or stimulated the economy by raising or lowering interest rates. Since March 2008, the Fed has resorted to using its emergency powers to pick winners and losers, and to take massive credit risk onto its books. Since last September, the Fed’s balance sheet has expanded from around $800 billion to over $2 trillion, not including off-balance sheet liabilities it has guaranteed for Citigroup, AIG, and Bank of America, among others. The bank is also ‘monetizing’ the debt of the United States Government by purchasing massive amounts of agency and Treasury bonds. An audit is the first step in bringing this unaccountable system under the control of the public, whose money it prints and disseminates at will.

The Federal Reserve is an odd entity, a public-private chimera that controls the US monetary system and supervises the banking system. The system is governed by a Board of Governors, with twelve regional reserve banks that serve a supporting role. While the Governors are appointed by the President with confirmation by the Senate, the regional Reserve Banks have boards of directors chosen primarily by private banking institutions. Right now, for instance, the CEO of JP Morgan, Jamie Dimon, serves on the Board of Directors of the New York Federal Reserve Bank, as did Goldman Sachs Director Stephen Friedman.

This creates striking conflicts of interest and unseemly appearances in the management of what is ultimately the public’s money.

Consider:

* JP Morgan’s CEO was a board member of the New York Fed even as he negotiated on behalf of JP Morgan with the New York Fed for a $29 billion bridge loan to allow his company to take over Bear Stearns.
* New York Fed and Goldman Sachs board member Stephen Friedman purchased 37,300 shares of Goldman Sachs stock in December at the same time as Goldman received permission to convert to a bank holding company regulated by the Federal Reserve. Friedman at the time was also overseeing the selection of a New York Federal Reserve President to replace Tim Geithner, and the New York Fed ended up hiring another alumni from Goldman Sachs.
* According to the bank’s website, the two “class B” directorships of the New York Fed that are supposed to represent the public are vacant.
* Enron’s Jeff Skilling was on the board of the Dallas Federal Reserve Bank.

Criticism of banker influence and control of our monetary system is not new. However, the urgency of the financial crisis and the actions of the Fed picking investment bank winners and losers have changed the nature of the criticism. The Senate just passed a non-binding resolution requiring more transparency at the Federal Reserve in its Budget Resolution.

Still, neither the GAO nor the Federal Reserve Inspector General has audited the books of the Federal Reserve or its regional banks. The Federal Reserve has refused multiple inquiries from both the House and the Senate to disclose who is receiving trillions of dollars from the central banking system. The Federal Reserve has redacted the central terms of the no-bid contracts it has issued to Wall Street firms like Blackrock and PIMCO, without disclosure required of the Treasury, and is participating in new and exotic programs like the trillion-dollar TALF to leverage the Treasury’s balance sheet. With discussions of allocating even more power to the Federal Reserve as the ‘systemic risk regulator’ of the credit markets, more oversight over the central bank’s operations is clearly necessary.

The net effect of recent actions has been to isolate financial policy-making entirely from democratic input, and allow the Treasury Department to leverage the Federal Reserve’s balance sheet to spend money it cannot get appropriated from Congress. The public does not know where trillions of its dollars are going, and so has no meaningful control over the currency or this unappropriated “budget”. The extraordinary size of these lending facilities combined, the extreme secrecy, and the private influence is a dangerous seizure of Congress’s constitutional prerogative to appropriate public monies and control the currency.

An audit of the Federal Reserve may not be sufficient to control this sprawling system or bring it back into balance, but it is a start. The public has a right to know to whom the US government is lending trillions of dollars. Dancing around this issue with technocratic terms like ‘increasing liquidity’ and ‘private financial intermediation’ is preventing a full and long overdue public debate on the role of the Federal Reserve and the influence of private banking interests in the governing of our economy.

I encourage my colleagues to support H.R. 1207, so that we can bring some transparency to our banking system and allow the public to have a real debate over the fundamental direction of our nation’s political economy.

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Where are the Senators? S.604

Where are the Senators who will cosponsor S.604?

Kay Bailey Hutchison and John Cornyn, where are you? I request you cosponsor S.604 now!

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And then there were 156! HR 1207 cosponsors

And then there were 156! co-sponsors to HR 1207.

It's time we stopped letting the corporate bankers steal from us. End the FED!

Any Congressman who doesn't cosponsor HR1207 is basically enabling theft. If your congresscritter isn't a cosponsor, call them on it.

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143 Cosponsors to HR 1207!

Rep Kagen, Steve [WI-8] - 2/26/2009	Rep Bachmann, Michele [MN-6] - 2/26/2009
Rep Bartlett, Roscoe G. [MD-6] - 2/26/2009	Rep Jones, Walter B., Jr. [NC-3] - 2/26/2009
Rep Rehberg, Denny [MT] - 2/26/2009	Rep Posey, Bill [FL-15] - 2/26/2009
Rep Broun, Paul C. [GA-10] - 2/26/2009	Rep Poe, Ted [TX-2] - 2/26/2009
Rep Burton, Dan [IN-5] - 2/26/2009	Rep Abercrombie, Neil [HI-1] - 2/26/2009
Rep Woolsey, Lynn C. [CA-6] - 2/26/2009	Rep Garrett, Scott [NJ-5] - 3/5/2009
Rep Chaffetz, Jason [UT-3] - 3/6/2009	Rep Kingston, Jack [GA-1] - 3/6/2009
Rep Young, Don [AK] - 3/6/2009	Rep Rohrabacher, Dana [CA-46] - 3/6/2009
Rep Stearns, Cliff [FL-6] - 3/6/2009	Rep McClintock, Tom [CA-4] - 3/6/2009
Rep Heller, Dean [NV-2] - 3/6/2009	Rep Duncan, John J., Jr. [TN-2] - 3/6/2009
Rep Taylor, Gene [MS-4] - 3/6/2009	Rep DeFazio, Peter A. [OR-4] - 3/9/2009
Rep Alexander, Rodney [LA-5] - 3/10/2009	Rep Price, Tom [GA-6] - 3/10/2009
Rep Petri, Thomas E. [WI-6] - 3/10/2009	Rep Foxx, Virginia [NC-5] - 3/10/2009
Rep Grayson, Alan [FL-8] - 3/11/2009	Rep Marchant, Kenny [TX-24] - 3/11/2009
Rep Wamp, Zach [TN-3] - 3/16/2009	Rep Blackburn, Marsha [TN-7] - 3/16/2009
Rep Buchanan, Vern [FL-13] - 3/17/2009	Rep Castle, Michael N. [DE] - 3/17/2009
Rep Fleming, John [LA-4] - 3/18/2009	Rep Akin, W. Todd [MO-2] - 3/19/2009
Rep Platts, Todd Russell [PA-19] - 3/19/2009	Rep Peterson, Collin C. [MN-7] - 3/19/2009
Rep McCotter, Thaddeus G. [MI-11] - 3/19/2009	Rep Lummis, Cynthia M. [WY] - 3/19/2009
Rep Burgess, Michael C. [TX-26] - 3/19/2009	Rep Sessions, Pete [TX-32] - 3/23/2009
Rep Deal, Nathan [GA-9] - 3/23/2009	Rep Franks, Trent [AZ-2] - 3/23/2009
Rep Miller, Jeff [FL-1] - 3/24/2009	Rep Blunt, Roy [MO-7] - 3/24/2009
Rep Stark, Fortney Pete [CA-13] - 3/26/2009	Rep Culberson, John Abney [TX-7] - 3/26/2009
Rep Paulsen, Erik [MN-3] - 3/30/2009	Rep Gingrey, Phil [GA-11] - 3/30/2009
Rep Terry, Lee [NE-2] - 3/30/2009	Rep Carter, John R. [TX-31] - 3/31/2009
Rep Capito, Shelley Moore [WV-2] - 4/1/2009	Rep Wittman, Robert J. [VA-1] - 4/1/2009
Rep Fallin, Mary [OK-5] - 4/2/2009	Rep Smith, Lamar [TX-21] - 4/2/2009
Rep Westmoreland, Lynn A. [GA-3] - 4/2/2009	Rep Lucas, Frank D. [OK-3] - 4/21/2009
Rep Lamborn, Doug [CO-5] - 4/21/2009	Rep Ehlers, Vernon J. [MI-3] - 4/21/2009
Rep Bilbray, Brian P. [CA-50] - 4/21/2009	Rep Pence, Mike [IN-6] - 4/21/2009
Rep Manzullo, Donald A. [IL-16] - 4/21/2009	Rep McCaul, Michael T. [TX-10] - 4/21/2009
Rep Cole, Tom [OK-4] - 4/21/2009	Rep Roe, David P. [TN-1] - 4/21/2009
Rep Herger, Wally [CA-2] - 4/21/2009	Rep Bishop, Rob [UT-1] - 4/21/2009
Rep Baldwin, Tammy [WI-2] - 4/21/2009	Rep Olson, Pete [TX-22] - 4/21/2009
Rep Latham, Tom [IA-4] - 4/21/2009	Rep Luetkemeyer, Blaine [MO-9] - 4/21/2009
Rep Doggett, Lloyd [TX-25] - 4/21/2009	Rep Rooney, Thomas J. [FL-16] - 4/22/2009
Rep Massa, Eric J. J. [NY-29] - 4/22/2009	Rep Johnson, Sam [TX-3] - 4/22/2009
Rep Thompson, Glenn [PA-5] - 4/22/2009	Rep Brady, Kevin [TX-8] - 4/22/2009
Rep Smith, Adam [WA-9] - 4/22/2009	Rep Shimkus, John [IL-19] - 4/22/2009
Rep Graves, Sam [MO-6] - 4/22/2009	Rep Jenkins, Lynn [KS-2] - 4/23/2009
Rep Gohmert, Louie [TX-1] - 4/23/2009	Rep Inglis, Bob [SC-4] - 4/23/2009
Rep Kaptur, Marcy [OH-9] - 4/23/2009	Rep Johnson, Timothy V. [IL-15] - 4/23/2009
Rep Brown, Henry E., Jr. [SC-1] - 4/28/2009	Rep Biggert, Judy [IL-13] - 4/28/2009
Rep Pitts, Joseph R. [PA-16] - 4/28/2009	Rep Tiahrt, Todd [KS-4] - 4/28/2009
Rep Myrick, Sue Wilkins [NC-9] - 4/28/2009	Rep Putnam, Adam H. [FL-12] - 4/28/2009
Rep LaTourette, Steven C. [OH-14] - 4/28/2009	Rep Tiberi, Patrick J. [OH-12] - 4/28/2009
Rep Ros-Lehtinen, Ileana [FL-18] - 4/28/2009	Rep Hoekstra, Peter [MI-2] - 4/28/2009
Rep Miller, Candice S. [MI-10] - 4/28/2009	Rep Granger, Kay [TX-12] - 4/28/2009
Rep Simpson, Michael K. [ID-2] - 4/28/2009	Rep Barrett, J. Gresham [SC-3] - 4/28/2009
Rep Goodlatte, Bob [VA-6] - 4/28/2009	Rep Smith, Adrian [NE-3] - 4/28/2009
Rep Wilson, Joe [SC-2] - 4/29/2009	Rep Hall, Ralph M. [TX-4] - 4/29/2009
Rep Kline, John [MN-2] - 4/29/2009	Rep Bono Mack, Mary [CA-45] - 4/29/2009
Rep Murphy, Tim [PA-18] - 4/29/2009	Rep Calvert, Ken [CA-44] - 4/29/2009
Rep McDermott, Jim [WA-7] - 4/29/2009	Rep Upton, Fred [MI-6] - 4/29/2009
Rep Bachus, Spencer [AL-6] - 4/29/2009	Rep Buyer, Steve [IN-4] - 4/30/2009
Rep Neugebauer, Randy [TX-19] - 4/30/2009	Rep McHenry, Patrick T. [NC-10] - 4/30/2009
Rep McCarthy, Kevin [CA-22] - 5/4/2009	Rep Barton, Joe [TX-6] - 5/4/2009
Rep Hensarling, Jeb [TX-5] - 5/4/2009	Rep McMorris Rodgers, Cathy [WA-5] - 5/4/2009
Rep Bilirakis, Gus M. [FL-9] - 5/4/2009	Rep Moran, Jerry [KS-1] - 5/4/2009
Rep Cassidy, Bill [LA-6] - 5/4/2009	Rep Walden, Greg [OR-2] - 5/4/2009
Rep Crenshaw, Ander [FL-4] - 5/4/2009	Rep Campbell, John [CA-48] - 5/4/2009
Rep LoBiondo, Frank A. [NJ-2] - 5/4/2009	Rep McHugh, John M. [NY-23] - 5/4/2009
Rep Schakowsky, Janice D. [IL-9] - 5/6/2009	Rep Linder, John [GA-7] - 5/6/2009
Rep Aderholt, Robert B. [AL-4] - 5/6/2009	Rep Davis, Geoff [KY-4] - 5/6/2009
Rep Dent, Charles W. [PA-15] - 5/6/2009	Rep Radanovich, George [CA-19] - 5/6/2009
Rep Schock, Aaron [IL-18] - 5/6/2009	Rep Herseth Sandlin, Stephanie [SD] - 5/6/2009
Rep Austria, Steve [OH-7] - 5/6/2009	Rep Adler, John H. [NJ-3] - 5/6/2009
Rep Sensenbrenner, F. James, Jr. [WI-5] - 5/7/2009	Rep Lungren, Daniel E. [CA-3] - 5/7/2009
Rep Walz, Timothy J. [MN-1] - 5/7/2009	Rep Shuster, Bill [PA-9] - 5/7/2009
Rep Michaud, Michael H. [ME-2] - 5/7/2009	Rep Conaway, K. Michael [TX-11] - 5/7/2009
Rep Shadegg, John B. [AZ-3] - 5/7/2009	Rep Boozman, John [AR-3] - 5/7/2009
Rep Guthrie, Brett [KY-2] - 5/7/2009

Thank you for cosponsoring HR 1207!

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Thank you, Congressman Michael McCaul!

Thank you, Congressman Michael McCaul for co-sponsoring HR 1207!

I really appreciate you getting behind Ron Paul's bill to audit the Federal Reserve. It's a great start.

I see that Gun Owners of America gives you an A- rating, not too bad, better than most.

Please keep up the good work!

Sincerely,

Your Constituent

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Is Anyone Minding the Store at the Federal Reserve?

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HR 1207 - Audit the FED!

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Who steals from Americans? The FED does!

We'll never have honest money as long as the Federal Reserve is in control of our currency.

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The Great American Strike

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The difference between Ron Paul and Barack Obama

Just in case you didn't know.

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Message from Ron Paul

Message from Ron: Onward! (1/10/08)
Did you see that funny YouTube where Mike Huckabee's young Iowa spokesman endorsed me, "by mistake"? We know what was in his mind! Indeed, I am amazed at the friendliness of the supporters of other candidates. Many Obama voters, for example, in Iowa and New Hampshire are reading our literature, and studying our ideas. It's just one of the reasons I am so optimistic about what we are doing, and where we are heading. And so were the 500 or 600 people at our New Hampshire rally after the primary. I talked to everyone there, and they are rightly enthusiastic about our movement.

This does not mean we will have an easy time of it -- just the opposite, of course. After all, we are seeking to reverse more than a century of big government, of the warfare-welfare state, of Federal Reserve's dollar manipulation, of a fat and happy military-industrial complex, of the subversion of our Constitution. So all the media and other "second-hand dealers in ideas," as F.A. Hayek called them, who have a vested interest in the current order, will do everything possible to smear me. They will do and say anything to try to block our movement. Even vote fraud is not beyond these people.

And we have been successful. This movement has always operated on two tracks -- intellectual and political, and must. The first and most important is the intellectual. Such heroes of freedom as Ludwig von Mises, Hayek, Henry Hazlitt, Murray Rothbard, and so many others like Rose Wilder Lane, John T. Flynn, Isabel Patterson, and Garret Garrett, have helped build the foundations of freedom, prosperity, and peace. We carry on their work, to change hearts and minds.


The other track is political. Here too, we have touched millions with our ideas, and recruited many, many thousands -- not only in Meetup Groups and as voters, but as sympathizers and future voters too. Walter Block was kind enough to call this effort the most important in the long history of libertarianism. I don't know about that, but I do know that even if we place a solid fourth, rather than the higher place we all want and are working so hard for, that is huge progress.

But we can never forget that this is a long struggle. Many great men and women have lived and died in this cause. I have been deeply involved in it all my life. It is a matter of educational work, and elections. We may not accomplish all we want, in one or even two elections. But we will accomplish it. Young people now living will see the free society that you and I dream of, as their everyday reality, an America at peace, prosperous and free, with the federal government chained down by the Constitution, as Jefferson said.

Does this mean our campaign has done everything right? No! We have made mistakes, and will make them again. Not only because errors are to be found in any human endeavor, but because an effort like this, to repeal a hundred years and more of evil, is brand-new on the face of the earth. But now is the time to stick together like the brothers and sisters we are, to stand side by side in this fight against the media toadies, warmongers, and Wall Street rip-off artists who stand against us, and who always remind me of Tolkein's Orcs.

If you have suggestions for me to do better, I want to hear them. But beating back the enemy, teaching so many young people and others about liberty, that is our victory, and it is real and permanent. Won't you link arms with me? We will have more vote victories too, if we stick together and do not let the enemy divide us.

As you know, and as our neocon enemies try to cover up, we are in a financial crisis. It may chug along at this pace, slowly into recession, or it might drop off a cliff, like the dollar. In that case, we will have the only coherent solution, and we must get our message out.

All my life, I've been working to make sure that when the Fed had done its work, and the special interests had looted the system to their hearts' content, and there was a crisis, I would be in a position to speak the truth about why, and what to do about it. In this fight, I need your heart, your mind, your time, and your financial support. I also need you to become a precinct leader https://voters.ronpaul2008.com/grassroots/ . What a fight we are in. What stakes there are. Together, we can build a new America faithful to the values of the framers. Bother the enemy, help the good cause: make your most generous contribution https://www.ronpaul2008.com/donate/, and let's roll up our sleeves and get to work, together.

Sincerely,

Ron

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Ron Paul on Mad Money

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Prophetic Thought for the Day

"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." - Thomas Jefferson

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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 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." 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."

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