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(For Frank ‘Austin’ England III) 
(Blog Masters Note: Continuing with the ‘Commercial Security Agreement’)


Providing Secured Party, subsequent to the execution of this Agreement, perfects his security interest in the Collateral by appropriate registration, Debtor agrees that its indebtedness to the Secured Party, whether now existing or hereafter created, shall have priority over unregistered claims that third parties may raise against Debtor or the Collateral, whether or not Debtor becomes insolvent. Debtor hereby expressly subordinates any claim Debtor may have against Secured Party, upon any account whatsoever, to the claim Secured Party has or will have against the Debtor.

If Secured Party so requests, all notes or credit agreements now or hereafter established evidencing debts or obligation of Debtor to third parties, shall be marked with a legend that the same are subject to this Agreement and shall be delivered to Secured Party. Debtor agrees, and Secured Party hereby is authorized, in the name of the Debtor, to execute and file such financing statements and other commercial statements, as Secured Party deems necessary or appropriate to perfect, preserve, and enforce his rights under this Agreement.


The following shall constitute Event(s) of Default hereunder:

1. failure by the Debtor to pay a debt secured hereby when due;

2. failure by the Debtor to perform an obligation secured hereby when required to be performed;

3. breach by the Debtor of a warranty contained in this Agreement;

4. evidence that a statement, warranty, or representation made or implied in this Agreement by Debtor, is false or misleading in any material respect, either now or at the time made or furnished;

5. evidence that this Agreement or a document of title is void or ineffective;

6. dissolution or termination of Debtor’s existence as a legal entity, the insolvency of Debtor, the appointment of a receiver for all or any portion of Debtor’s property, an assignment for the benefit of public creditors, or the commencement of proceedings under bankruptcy or insolvency laws by or against Debtor;

7. commencement of foreclosure, whether by action of a tribunal, self-help, repossession, or other method, by a creditor of Debtor against the Collateral;

8. garnishment of Debtor’s deposit accounts or employment.

Cure of Default. If a fault or dishonor under this Agreement is curable through an account held by Debtor but managed by the United States or one of its subdivisions, agents, officers, or affiliates, such fault or dishonor may be cured by the Debtor with authorization by Secured Party; and upon advice by the fiduciary that the fault or dishonor has been cured, and no Event of Default will have occurred. A dishonor under this Agreement, initiated by third party intervention, will not cause a default if such intervention is challenged by Debtor by its good faith effort to confirm or disprove the validity or reasonableness of a public claim which is the basis of the public creditor’s proceeding; but Debtor must, in that event, deposit such surety with Secured Party as is necessary to indemnify the Secured Party from loss. 

Acceleration. In the Event of Default, Secured Party may declare the entire indebtedness, immediately due and payable without notice.

Liquidation of Collateral. In the Event of Default, Secured Party shall have full power to privately or publicly sell, lease, transfer, or otherwise deal with the Collateral or proceeds or products therefrom, in his own name or in the name of the Debtor. All expenses related to the liquidation of Collateral shall become a part of the Debtor’s indebtedness. Secured Party may, at his discretion, transfer part or all of the Collateral to his own name or to the name of his nominee.

Rights and Remedies. The Secured Party shall have all the rights and remedies of a secured creditor under the provisions of the Uniform Commercial Code as it has been adopted in the State where part or all of the Collateral is located or presumed to be located, including but not limited to, the right to proceed with self-help with or without a public court or tribunal. Rights and remedies available to Secured Party may be exercised singularly or jointly and in all venues and jurisdictions concurrently at the sole discretion of the Secured Party.


Amendments. This Agreement, together with all related documents, constitutes the entire understanding and agreement of the Parties as to the matters set forth in this Agreement. No alteration of or amendment to this Agreement shall be effective unless expressed in writing and signed by both Parties.

Applicable Law. The governing law of this Agreement is the agreement of the Parties, supported by the Uniform Commercial Code as adopted by the legislature of the State of North Carolina, international contract law, the unwritten Law Merchant as practiced before the Uniform Commercial Code was promulgated, and applicable maxims of law. Expenses. Debtor agrees to pay upon demand, from such accounts as Debtor may have, all Secured Party’s costs and expenses, including reasonable attorney’s fees and other expenses incurred by the Secured Party to defend or enforce the provisions of this Agreement.

Indebtedness. The word “indebtedness” means the indebtedness evidenced by this Agreement as a claim against the Debtor and all its present and future possessions identified in this Agreement as Collateral; and all public obligations, debts, and liabilities ascribed to Debtor through its contracts and agreements, whether expressed or implied, known or unknown, or actual or constructive, that are with the United States or its subdivisions, agents, officers, affiliates, or other public entities; and all claims made by Secured Party against Debtor, whether existing now or in the future, whether they are voluntary or involuntary, due or not due, direct or indirect, absolute or contingent, liquidated or unliquidated, regardless of whether Debtor is or may be liable individually or jointly, or is obligated as, or beneficiary of, a surety or accommodation party.

Related Documents. The phrase “related documents” means all promissory notes, credit agreements, loan agreements, guaranties, security agreements, mortgages, deeds of trust, applications, accounts, licenses, policies, permits, identification cards, account cards, receipts, forms, and all other documents and instruments that Debtor or its previous surety has or will execute in connection with the Debtor’s total indebtedness.

Notices. Except for revocation notices by Debtor, all notices required to be given by either Party under this Agreement, shall be in writing and shall be effective when actually delivered or when deposited with the United States post office or a nationally recognized courier service, first class postage prepaid, addressed to the Party to whom the notice is to be given at the address shown on this Agreement or to such other address as either Party may designate to the other in writing.

Severability. If one or more provisions of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a qualified court finds that one or more provisions of this Agreement is invalid or unenforceable, but that by limiting such provision(s) it would become valid or enforceable, such provision(s) shall be deemed to be written, construed, and enforced as so limited. In the event that such a finding and limitation causes damage or hardship to either Party, the Agreement shall be amended in a lawful manner to make all Parties whole.

Waiver of Contractual Right. The failure of either Party to enforce one or more provisions of this Agreement shall not be construed as a waiver or limitation of that Party’s right to subsequently enforce and compel strict compliance with every provision of this Agreement. Secured Party shall not be deemed to have waived rights under this Agreement unless such waiver is given in writing and signed by Secured Party. No delay or omission on the part of Secured Party in exercising a right shall operate as a waiver of such right or any other right. A waiver by Secured Party of a provision of this Agreement shall not prejudice or constitute a waiver of Secured Party’s right otherwise to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by Secured Party, nor any course of dealing between Secured Party and Debtor shall constitute a waiver of Secured Party’s rights or of Debtor’s obligations under this Agreement as to future transactions. Whenever the consent of Secured Party is required under this Agreement, the granting of such consent by Secured Party in one instance shall not constitute consent over the whole.

Ambiguities and Interpretation. Each Party acknowledges receipt of this Agreement and has had the opportunity to have counsel review it, and that any rule of construction claiming ambiguities are to be resolved against the drafting Party, shall not apply in the interpretation of this Agreement or its amendments. All statements in this instrument are important to the Parties. Misunderstandings have been resolved prior to execution.

Authority to Represent. A signer of this Agreement on behalf of a legal entity certifies that he has the authority to sign this Agreement and that this transaction has been duly authorized by such entity.

Gender. All references within this Agreement to a specific gender, include the other.



a Legal Entity a man

See attached: Schedule A and Indemnity Bond


This Schedule A dated the _____ day of ____________, 2000, is attached to and incorporated in the attached Security Agreement dated the same date, as though fully set forth therein. The following partial itemization of property constitutes a portion of the Collateral referenced in said Security Agreement, and is not intended to represent the actual and full extent of said Collateral. This Schedule A supplements previous security agreements describing collateral, that may have been entered by the same parties.

a. Income from every source

b. Proceeds of Secured Party’s labor from every source

c. Application for STATE OF CALIFORNIA CERTIFICATION OF BIRTH # 1907 5396, and all other Certificates of Birth, Certificates of Living Birth, Notifications of Registration of Birth, or Certificates of Registration of Birth, or otherwise entitled documents of birth — whether County, State, Federal, or other — either ascribed to or derived from the name of the DEBTOR identified above, or based upon the above described birth document.

d. Application for Social Security #(SS# without dashes)

e. Treasury Posted Registered Account # R792 407 568

f. United States of America Passport # 051870157

g. Arizona Driver License # B11176728

h. Personal Treasury Direct Account # R 792 407 568 – (SS# without dashes)


All property belonging to the DEBTOR


Know all men by these presents, that JOHN HENRY DOE, the Debtor, hereby establishes this Indemnity Bond in favor of John Henry Doe, the Secured Party, in the sum of present and future Collateral Values up to the sum of One hundred billion United States Dollars ($100,000,000,000), for the payment of which bond, the Debtor hereby firmly binds its successors, heirs, executors, administrators, DBA’s, AKA’s, and third-party assigns, jointly and severally.

The Debtor hereby indemnifies the Secured Party against losses incurred as a result of all claims of debts or losses made by any and all persons against the commercial transactions and investments of the Debtor. The condition of this bond is that Secured Party covenants to do certain things on behalf of the Debtor, as set forth in the attached Security Agreement of the same date and executing Parties; and Debtor covenants to serve as a transmitting utility to assure beneficial interest in all accounts established and managed by the United States, and all goods and services in commerce, are available to or conveyed from Debtor to Secured Party, whichever is appropriate.

To avert losses of vested rights in the present or future collateral that is the subject of the attached Security Agreement, Debtor agrees to make available to the Secured Party, such accounts established by intent of the Parties, by operation of law, and/or as constructive trusts, to hold proceeds arising from assets belonging to the Debtor, and administered by the United States or its subdivisions, agents, or affiliates. Pursuant to existing laws of the United States and the agreement of the Parties of the attached Security Agreement, the Secured Party is authorized to assign such funds from said accounts as are necessary to settle all past, present, and future public debts and obligations incurred by the Debtor on behalf of the Secured Party.

The Debtor, without the benefit of discussion or division, does hereby agree, covenant, and undertake to indemnify, defend, and hold the Secured Party harmless from and against any and all claims, losses, liabilities, costs, interests, and expenses, including without restriction, legal costs, interests, penalties, and fines previously suffered or incurred, or to be suffered or incurred by the Secured Party, in accordance with the Secured Party’s personal guarantee with respect to loans or indebtedness belonging to the Debtor, including any amount the Debtor might be deemed to owe to a public creditor for any reason whatsoever.

The Secured Party shall promptly advise the Debtor of all public claims brought by third parties against the present or future property of the Debtor, all of which is covered by the attached Security Agreement up to the indemnification amount declared herein, and to provide the Debtor with full details of said claim(s), including copies of all documents, correspondence, suits, or actions received by or served upon the Debtor through the Secured Party. Secured Party shall fully cooperate with discussion, negotiation, or other proceedings relating to such claims.

This bond shall be in force and effect as of the date it is signed and accepted by the Parties, and provided that Secured Party may cancel this bond and be relieved of further duty hereunder by delivering a thirty (30) day written Notice of Cancellation to the Debtor. No such cancellation shall affect the liability incurred by or accrued to Secured Party prior to the conclusion of said thirty (30) day period. In such event of Notice of Cancellation, and in the event the United States reinstitutes its constructive claim against the Collateral, the Debtor agrees to reissue the bond before the end of the thirty (30) day period for an amount equal to or greater than the above value of the attached Security Agreement, unless the Parties agree otherwise.

Done this ____ day of ______________, _______

______________________________________ _______________________________________

Indemnitor, JOHN HENRY DOE Indemnitee, John Henry Doe

(End of sample)


The “government” or specifically the INTERNAL REVENUE SERVICE keeps an account for your strawman corporation from the time you were born until the time you die. That is all the strawman really is – an account, an accounting of the commercial transactions of the credit that you as the creditor gives to UNITED STATES.

The IRS calls the summary of entries made to this account your Individual Master File (IMF). This file is an account of what the strawman has “done” so that they can put a value on the criminal “charges” that they are claiming, such as a rum runner in Puerto Rico, an arms dealer in Iran, or a drug dealer in Malaysia. That is how they “charge your account” and that is why you have never been “charged” with these crimes – the debtor, the strawman, the corporation has. These “charges” represent millions of dollars worth of U.S. Treasury Bonds to the foreign corporation we fondly call UNITED STATES.

As you might guess, depending on the crimes and the assigned values, this balance is a continuing deficit to the debtor and at first glance it would be an overwhelming feeling to know that if you think you are the debtor, you could owe millions, if not hundreds of millions. But, you must ask yourself this question, “who is the creditor to this debtor”? Is it the UNITED STATES, the FEDERAL RESERVE BANK, or INTERNATIONAL MONETARY FUND? I think you know the answer. They are “pretending” to be the creditors, but did they give the substance or did you?

Then why are they getting the interest (taxes) for the credit units that WE have supplied to the corporations? Shouldn’t the corporations be paying the interest to us? How did this get turned upside down where the head is the tail and the tail is now the head? Turn to Deuteronomy 28 and read it, but specifically 43, 44 & 45;

The stranger that is within you shall get up above you very high; and you shall come down very low. He shall lend to you and you shall not lend to him; he shall be the head, and you shall be the tail. Moreover all these curses shall come upon you, and shall pursue you, and overtake you, till you be destroyed; because you hearkened not unto the voice of the Lord your God, to keep his commandments and his statues which he commanded you:

Now that you can visualize the countless number of “charges” that have been entered on your strawman account by the IRS, what can you do about it? You can balance your account by ACCEPTANCE FOR VALUE.

The main reason why you must do this action is to keep this account at a zero balance so that you can discharge all of your debt that you CAN see.

Drill. 1. Set up your Treasury Account and discharge the debt in the name of the strawman corporation. 

You will have to get a copy of your birth certificate and accept that for value. This is the document that the state issued for the purpose of creating an artificial person in your upper case name with an account so that the state could keep an accounting record of all the debt that has been assigned to that “person.”

2. While you are waiting for your copy of your birth certificate, you will have to make an invoice like they would have “if” they were able to give one to you. Since they will never do this, you will make one up yourself based on the birth certificate as this is the actual document evidencing that the strawman account really exists. This is the bill, the charge, the evidence of debt. Do not put an amount in the space provided, because you do not know how much they have entered into your account. Leave this blank and let them fill this amount in. Now that you have the bill, the evidenced the debt, you need to discharge it. You will do this by means of a set-off, a cancellation of mutual debt, an exchange, a BILL OF EXCHANGE. Replace the generic data with your information and again DO NOT ENTER AN AMOUNT. Then sign the document.

3. Next compose the cover letter that you will send to Paul H O’Neill, not the US Secretary of Treasury. The reason is that you, as a soveran in the private venue, cannot see or recognize a fiction whether it be a corporation or an office. You can only see or deal with the real man or woman. This is a “private” contract between you the creditor and Paul H O’Neill, you agent for the bankruptcy to cancel the debt.

4. Go to your local IRS and get a 1040ES (Estimated Tax) Form and fill it out, but DO NOT sign it or fill in the AMOUNT. Again you do not know how much it is so let them fill it out. When they figure out how much the total debt is they will then pay themselves by using this form.

5. When you get your birth certificate, you will need to make a transparency for it. This consists of printing out the page that says Non-Negotiable CHARGEBACK on it. Take it down to a Mailboxes Etcs. and have them make RED transparency of it. Then situate the CHARGEBACK transparency on the birth certificate and have them make a color copy of it. Fill in the blanks appropriately.

6. While you are at the copy place, take your UCC-1 and make a copy of it also. Copy only the Financing Statement NOT the entire Security Agreement and attachments.

7. Now that you have the whole package, make a copy of the entire package which should include;

a.Cover letter to Paul H O’Neill

b. Invoice


d. Copy of birth certificate with CHARGEBACK stamp

e. Copy of your UCC-1 Financing statement.

f. 1040ES

9. Send the contents registered mail return reciept so that you know that someone has signed for it.

10. After you have received the green reciept back, wait 30 days and if you have not heard back then they have consented to all that you have requested.

Following are the documents that you will need to complete this particular process. You will not use this account again, but the debt with the strawman will have a zero balance. You will set up a new account with Paul O’Neill every time you discharge a debt and then close that account again.

MAY 15, 2000

Paul H O’Neill , Secretary

US Department of the Treasury

1500 Pennsylvania Avenue, NW

Washington, DC 20220

Re: Non-Negotiable Charge Back

Mr. O’Neill:

Enclosed you will find a copy of the Registered Security which I have sent to you to open my Treasury Direct Account. I accept for value all related endorsements with both UCC 3-419 and HJR-192 of June 5, 1933. Charge my Treasury Direct Account # R987654321-123456789 for the registration fees and command the memory of account number 123456789 to charge the same to the debtor’s Order or your Order.

The total amount of this NON-NEGOTIABLE ACCEPTANCE FOR VALUE in the enclosed filing is $ ___________________.

Posted Certified Account # R987654321

Invoice: # JHD12252000-R987654321

Pre-paid – Preferred Stock

Priority – Exempt from Levy

Res/ln Rem.


John Henory Doe via JOHN HENORY DOE



Employer Identification Number: 123456789


1. INVOICE # JHD12252000-R987654321

2. Non-Negotiable Bill of Exchange

3. Copy of UCC-1

4. Copy of Birth Certificate

5. 1040 ES FORM

Cc: file


MAY 15, 2000


Charge Back

Paul H O’Neill , Secretary

Department of the Treasury

1500 Pennsylvania Avenue, NW

Washington, DC 20220


Attention: Paul H O’Neill , Respondent

This constitutes notice that, re. The enclosed, the Undersigned, John Henory Doe, herewith accepts for value all related endorsements, front and back, in accordance with Uniform Commercial Code, “UCC” 3-419, and House Joint Resolution 192 of June 5, 1933 and UCC §§ 1-104, 10-104. Charge Treasury Direct Account #R987654321-123456789 of the Undersigned for appropriate registration fees and command the memory of account number 123456789 to charge the same to the Debtor’s Order, or to Respondent’s Order.

The total amount of this NON-NEGOTIABLE ACCEPTANCE FOR VALUE in the enclosed filing is any amount Dollars, $ any amount.

Please adjust the Undersigned’s Treasury Direct Account and send a summary statement of said adjusted account to the Undersigned within thirty (30) days of receipt of this NOTICE.

In the event Respondent requires further information or assistance from the Undersigned, please write to the Undersigned at the mailing location provided herein and herewith.

Sincerely, ______________________

John Henory Doe via JOHN HENORY DOE


Some city,in anystate with a ZIP

Posted Certified: Account # R987654321

Invoice: # JHD12252000-


Employer Identification Number: 123456789


Charge Back

Paul H O’Neill or Office Holder

Secretary of the Treasury

John Henory Doe accepts for value all related endorsements, front and back, in accordance with Uniform Commercial Code 3-419 and House Joint Resolution 192 of June 5, 1933. Charge Treasury Direct Account Number R987654321-123456789 for the registration fees and command the Memory of account number 123456789 to charge the same to the Debtor’s Order or the Order of Paul H O’Neill or Office Holder.




Pre-Paid –

Preferred Stock

Priority – Exempt form Levy

Posted Registered Account # R987654321 _________________________________

Invoice: # JHD12252000-R987654321 John Henory Doe




Exempt from Levy Posted Registered Account # R987654321

Preferred Stock


Name on Account: JOHN HENORY DOE

Personal Treasury Direct Account # R987654321-123456789

Amount: ______________

Respondent: Paul H O’Neill

Attached please find Invoice # JHD12252000-R987654321 and a copy of the undersigned’s non-negotiable acceptance for value of the attached CERTIFICATE OF BIRTH, representing the original birth document wherever it may be at this time, with all related endorsements, front and back, and correlating numbers, in accord with UCC 3-419, relying on UCC 1-104 and 10-104. Said accepted Certificate of Birth, original document of title, and related numbers are included in and are part of the Undersigned’s commercial agreements.

1. Please charge back _____________________ to the JOHN HENORY DOE’S Treasury Direct Account # R987654321-123456789, Deducting the fees necessary to secure and register this tax exempt priority exchange for the purpose of discharging a public liability, for this priority exchange to discharge the public liability. Please command the memory of account # 123456789 to charge the same certain sum of money to the Debtor’s Treasury Direct Account named above, after the necessary fees have been deducted.

2. The posted registered account # R987654321, which is part of the undersigned’s tax estimate, is directed for priority use for the Republic as referenced in Article Four Section Four of the Constitution for the United States, and is in accord with public policy House Joint Resolution 192 of June 5, 1933, for discharge of the public debt.

3. Please take the Undersigned’s Banker’s Acceptance of the attached Article Seven receipt, in exchange for the tax exempt priority. This non-negotiable BILL OF EXCHANGE is presented to the Respondent to the Federal Window, for settlement within the three-day Truth and Lending time for settlement of retail agreements.

4. With this posted transaction, the charge back documented by the enclosed forms, for use by the Republic is complete. Failure of the Respondent to notice the Undersigned of his refusal or inability to timely adjust said Treasury Direct Account within thirty(30) days of receipt of this instrument, shall constitute confirmation that said account has been adjusted as requested herein.

Should additional information or assistance be required to comply with this request, please direct inquiries to the Undersigned at the mailing location provided below.




John Henory Doe via JOHN HENORY DOE Employer Identification # 123456789

? 0119 N. Broadway Pre-Paid – Preferred Stock

Tucson, Arizona 85799 Priority – Exempt from Levy



Following is a speech by Representative Traficant who Reports On The Bankruptcy Of The United States,United States Congressional Record, March 1, 1993 VOL. 33, page H-1303 The Speaker – Rep. James Traficant, Jr. (Ohio) addressing the House. Several people have looked in Law Libraries for the above speech and references, however the documents can not yet be located, therefore this is not verified and cannot be stated as fact. However, Travicant’s speech is very eloquent, to the point and can be supported with other documented facts.

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 in 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 Government Offices, Officers and Departments and is futher 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 defacto 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 and 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 (FRN’s) made 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 in 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 (FRN’s) are unsigned checks written on a closed account. FRN’s are an inflatable paper system designed to create debt through inflation (devaluation of currency). Whenever 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 FRN’s has everybody fooled. They have access to an unlimited supply of FRN’s, paying only for the printing costs of what they need. FRN’s 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 FRN’s, 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 and 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 (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 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 principal.

Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens or mortgages until 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. citizens, 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 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 pledge the

unincorporated federal territories, national parks forest, 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 libilities 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 result 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.

(Blog Masters Note: Federal Administations change, Paul H. O’Neal was Secretary of Treasury when Austin wrote this in 2000.)