HISTORICAL DOCUMENT

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."