Found my tin-foil hat and, again and began pondering more state sponsored nonsense. We all know our country is awash in debt that can and will never be paid off and that the government keeps spending money faster than they can collect revenues or even borrow from Communists or irradiated Japanese. Generally, folks are beginning to wake up to the fact that the United States is about to have their ‘Weimar Republic’ moment wherein the house of cards gets blown over by default. When that tripping point is reached there will be real panic in the streets. The government will tell you the end of everything as we know it will ocurre if our currency collapses and our government defaults like Greece however, think about all of this in the context of corporate law before you attache any ‘moral’ interpretation to it.
Are we (the People) ‘responsible’ for the debt of the United States or are we hearing simply the mother-of-all “too big to fail” con-jobs which have been used, so often, to rescue one illegal fraud-based ponzi scheme after another? ‘They’ are the ones handing billions to foreign countries like Israel, ‘they’ are the ones giving trillions to banks and other private corporations, ‘they’ are the ones spending trillions bombing every backwater sandhill that ever spawned a human being who could say no to having their sandhill raped by foreign corporations and ‘they’ are the ones hiring more and more government workers who’s job it is to feel us up, illegally search us, arrest us for selling lemonade & raw milk or spending ridiculous sums providing benefits to illegal aliens while Citizens have their pension funds raided and their Rights thrown under a bus. So, were ‘we’ expending these funds and thus on the hook? Well, here’re some facts.
You may or may know that the ‘Federal Reserve’ handles the sale of ‘government bonds’ (T-bills) yet it isn’t “Federal” at all. It’s a consortium of private banking corporations created within 12 U.S.C. Sub-Sections. 341-361. This is clearly laid out in the US Court of Appeals in the case of Lewis v. United States, 680 F.2d 1239 (1982) wherein the court stated: “Federal reserve banks are not federal instrumentalities …, but are independent, privately owned and locally controlled corporations in light of fact that direct supervision and control of each bank is exercised by board of directors,…” The court goes on to state: “Each Federal Reserve Bank is a separate corporation owned by commercial banks in its region.” Thus, the folks issuing debt/loans to the US government are private corporations.
One might also note that the “United States” in ‘legal terms’ is also a ‘corporation’ pursuant to Title 28, Part VI, Chapter 176, Subchapter A which spells out that:
§ 3002. Definitions
(15) “United States” means—
(A) a Federal corporation;
(B) an agency, department, commission, board, or other entity of the United States; or
(C) an instrumentality of the United States.
Corporations are interesting ‘entities’. Chief Justice Marshall of the United States Supreme Court stated that “A corporation is an artificial being, invisible, intangible, and existing only in contemplation of the law“. One of the interesting things about a ‘corporation’ is that, as a legal entity, distinct and separate from the individuals who create and operate it, it can acquire debt and liabilities yet, if it fails, the stockholders are not ‘personally’ responsible for those liabilities.
So the “corporation” known as the “United States” borrows bags of money from the “corporation” known as the “Federal Reserve Bank” which it actually created, both of whom know the first corporation (“United States”) can’t pay the second corporation, the “Federal Reserve”. The Fed fabricates money out of thin air for the first corporation (“United States”) where one second the “money” didn’t exist while the next second the “money” appears on a computer screen. (I wish that worked in my Quickbooks program.) Finally the second corporation sells the make believe promissory notes of corporation number one to any damn fool willing to buy them and as fraud would have it, the whole ball of wax is now melting down into (you guessed it) ‘nothing’.
So, where Chief Justice Marshal articulated the Law regarding a corporation as being “separate from the individuals who create and operate it” and “the stockholders are not ‘personally’ responsible for those liabilities” if/when the economy tanks and folks start jumping up and down about ‘America’ not paying it’s bills or that there’s some sacred reason we, as actual real People, should concern ourselves about the fabrications of “artificial (corporations) people”, who have created ledger entries out of thin air, remember that not only are ‘we’ NOT stockholders of either of these corporations but that even if we were, the Supreme Court has stated quite clearly that we are “not ‘personally’ responsible for those liabilities”.
When the ponzi scheme unwinds and the “United States” can’t borrow any more money from the “Federal Reserve” because no more fools can be found to purchase the IOUs issued by the bankrupt corporation called the “United States” and being sold by the bankrupt corporation called the “Federal Reserve” what happens? Well, the money in circulation and held around the world will be worthless. Since our “money” isn’t lawfully backed by anything (see https://resistancetononsense.wordpress.com/2011/05/19/mysteries-of-the-universe-“taxable-income”/) and isn’t redeemable in anything but more of the same, those holding that money (mostly huge corporations) are going to have nothing to bribe our government with. The stockholders (even if we were stockholders) are free and clear of financial responsibility, according to international and domestic corporate law. So, everyone is free to go about their business and start over with a free pass on their former debt. Perhaps all those mega-corporations will get broken up, have to start over and for a few years at least, our ‘vote’ might actually count for something again!