The Great U.S. Fiat Currency FRAUD
FIAT MONEY defined: Paper currency not backed by gold or silver. Black’s Law Dictionary Sixth Edition (page 623)
“Give me control of a nation’s currency and I care not who makes the laws” – Baron Rothschild
By law, fiat currency is debt in our current environment. It turns rational people into outlaws and criminals.
On the night of December 23, 1913, Congress passed the Federal Reserve Act. The Result? The greatest theft in the history of the world, the loss of America's gold and silver reserves, and a federal debt of over five trillion dollars!
Although Article 1, Section 8, of the Constitution, makes Congress responsible for coining money, it is the Fed that has total monetary control. However, the Fed is not a Federal agency and has no reserves, it is a privately-owned banking system, as proven in court:
A Mr. Lewis was injured by a Federal Reserve vehicle and sued the U.S. government for damages. The court ruled, "...that since the Federal Reserve System and its twelve branch banks are private corporations, the federal government could not be held responsible."- Lewis v. U.S., 608F 2d 1239 (1982).
U.S. paper currency reads: Federal Reserve Note." But, "Money in usual and ordinary acceptation... does not embrace notes." - Black's Law Dictionary, 6th Ed.
All FRN in circulation is borrowed?; every FRN in your possession is a debt to the Fed. If all debts were repaid, there would be no FRN in circulation!
When Congress needs FRN, the Fed sells Treasury Bonds (pieces of paper) for the amount required at an interest rate set by the Fed. Treasury then sends the printed currency to the Fed, which pays a few pennies (about four cents) for each printed bill. The FRN is then loaned back through the banks, which loan it as debt. All FRN is borrowed?, but only principal can be borrowed?, the interest cannot be borrowed. Thus, a problem occurs when, for example, the Fed loans $100 million to a bank at 10%. The bank must repay $110 million; but since only $100 million was issued, the unissued $10 million (does nor exist) must become debt. The Fed can never be repaid!
FICTITIOUS defined: Founded on a fiction; having the character of a fiction; pretended; counterfeit. People v. Carmona, 79 Cal.App. 159, 251 P. 315, 317; State v. Tinnin, 64 Utah 587, 232 P. 543, 545, 43 A.L.R. 46. Feigned, imaginary, not real, false, not genuine, nonexistent. Bill alleging that amount of mortgage sought to be canceled was "fictitious" held to allege that mortgage was with- out consideration. Kinney v. Kinney, 230 Ala. 558, 161 So. 798, 800. Arbitrarily invented and set up, to accomplish an ulterior object. West Virginia Mortgage & Discount Corporation v. Newcomer, 101 W.Va. 292, 132 S.E. 748, 749. Black’s Law Dictionary Revised Fourth Edition (page 751)
1 comment:
The FED is a scam. Who in their right mind would ever do business with such an entity?
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