In 1913, Congress signed a surrender treaty to the international banking cartel. Congress ceded its sovereignty to the Federal Reserve by surrendering its money printing authority. The 16th amendment sold all US citizens into slavery via the income tax. After 1913, bankruptcy was inevitable, although it wasn't formally declared until later.
Under the Federal Reserve System, the Compound Interest Paradox guaranteed that government debt would grow exponentially. Under the Federal Reserve System, the amount of dollars in circulation was greater than the amount of physical gold in the US treasury. This guaranteed an eventual default. People didn't immediately demand to exchange their dollars for gold, because they didn't understand how badly they had been cheated. It wasn't obvious until the banking crisis in 1933.
In 1929, the international banking cartel jacked up interest rates everywhere, causing a worldwide depression. The Compound Interest Paradox caused all the money to drain out of the world economy. The international banks knew about the credit crunch in advance. They stopped issuing loans before the crash and bought assets cheap after the crash.
There were secret meetings where the international banking cartel negotiated with all the major world governments. Every world government secretly declared bankruptcy. Bankruptcy treaties were ratified. The bankruptcy treaty was never formally declared to the public. Laws were gradually implemented that formalized the terms of the bankruptcy proceeding.
In 1933, President Roosevelt formally declared bankruptcy to the US public. He told them that the US government was defaulting on its promise that dollars were backed with gold. He demanded that US citizens turn over their gold in exchange for worthless dollars.
Even though bankruptcy was declared, President Roosevelt kept the US government going by executive order. The US government has been operating under marshal law since 1933, although this has been carefully kept secret from the general public.
Corporations can continue operations even though they are bankrupt. As long as enough interest payments are made to satisfy the creditors, operations may continue. Corporations can operate for years while in bankruptcy protection. As long as the creditors deem it to be in their best interests, they allow operations to continue during the bankruptcy reorganization.
Similarly, the US government has continued operations even though it's formally bankrupt. Technically, the US government has ceased to exist. Its current operations are one protracted bankruptcy proceeding. Its operations vaguely resemble its original structure, so the details of the formal bankruptcy are kept hidden. Interest payments (income taxes) are made to the creditors, so operations are allowed to continue. The US government is allowed to continue to exist with permission from its creditor, the international banking cartel.
That's the reason tax protesters are forbidden from mentioning the Constitution when defending themselves. That's the reason red market enforcers aren't required to cite the specific laws that require people to pay income taxes and disclose all economic activity to the government. In a bankruptcy proceeding, the creditors are running the corporation and making up the rules. The creditor is the international banking cartel. US citizens have to pay income taxes. That's part of the surrender treaty and bankruptcy process.
That's the reason the President, Congress, and Supreme Court are able to flagrantly violate the Constitution. The Constitution has no legal standing anymore.
A bankruptcy proceeding cannot continue forever. At some point, either the creditors convert their debt to equity or a liquidation occurs.
A conversion from debt to equity would involve a repeal of the Federal Reserve Act and a repeal of the 16th amendment. That isn't going to happen. That is the hope of Ron Paul's campaign supporters. If the creditor decides to convert his debt to equity, he will allow Ron Paul to be elected President and pass his reforms.
The purpose of Ron Paul's presidential campaign is not to convert the debt to equity. The purpose is to announce the liquidation. When Ron Paul is cheated out of the Republican nomination, it will be obvious to everyone that it is time for a liquidation. (Maybe not everyone, just those people who are smart enough to count for anything.)
The creditors of the US bankruptcy proceeding have decided that they prefer a liquidation over equity in the US government. Pretty soon, the US government is going to be denied bankruptcy protection. All world governments have declared bankruptcy and surrendered to the international banking cartel. All world governments are going to be liquidated, not just the US government.
I believe that the Supreme Leader of Humanity and the leaders of the international banking cartel have decided that it is time for the final liquidation of this bankruptcy proceeding. They are intentionally allowing the coming agorist revolution to occur, so the US government can finally be liquidated. They will allow the current system to survive until the replacement system is in place. An agorist revolution should be mostly peaceful, so there probably won't be a lot of casualties during the transition. The violence will come from red market agents resisting the liquidation.
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