From the United States Congressional Record, Vol. 33,
page H-1303, March 17, 1993
Rep. James A. Traficant, Jr. (Ohio) addressing the House of
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 [a blueprint for our future]. There are some
who say it is a coroners 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
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
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
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
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 non-profit 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 its easy to grasp why America is
fundamentally bankrupt. Why don't more people own their
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
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."
To silence Traficant, certain members of Congress found a means
to put him in prison on trumped-up charges. The hearings were
like a kangaroo court; whereby, he was not allowed to bring in
certain witnesses, documents, and testimony. Judge Lesley Wells
of the U.S. District Court in Cleveland, Ohio, was prejudiced
toward Traficant and refused to set bail for Traficant, ordering
that service of his term should begin immediately. Denial of
bail also sets aside all pending appeals to Traficant's
conviction. Traficant is now serving an eight-year prison
sentence in federal prison for his April 11, 2002 conviction on
trumped-up felony charges of bribery, corruption and tax
By a vote of 420-1, Traficant was also expelled
from the House of Representatives. House Resolution No. 495 read
simply, "Resolved, That, pursuant to
article I, section 5, clause 2 of the United States
Constitution, Representative James A. Traficant, Jr., be, and he
hereby is expelled, from the House of Representatives."
Traficant is the second member of the House to be
expelled since the Civil War and the fifth in congressional
history. Traficant, addressing the House, said
"I'll go to jail before I resign and admit to
something I didn't do."