By Johnny Liberty

Federal Reserve Banking System Operates Under Emergency Powers

Federal law (12 USC §95) forbids member banks of the Federal Reserve Banking System to transact banking business, “except under regulations of the Secretary of the Treasury during an ‘National Emergency’ proclaimed by the U.S. President”. If or when the Emergency and War Powers Acts are lifted all Federal Reserve Banks (FRB) will cease to operate.

The Code of Federal Regulations (CFR), the Parallel Index of Rules and Authorities, which begins on page 751 of the 1995 Index shows that the Federal Reserve Bank (FRB) is an agency of geographical United States, and that it has never had legitimate authority applicable to the state republics and the people of the united states of America.

The only published regulation which supports 12 USC §95a, section 5(b), of the Trading With the Enemy Act of 1917 pertains to customs. The other under Title 31, is held in reserve. There exists no regulatory application for Congress’s approval of “National Emergency” powers granted to the Executive via 12 USC §95(b).

Likewise, there are no regulations applicable to the state republics or to the people of the united states of America for the statute which authorizes federally chartered financial institutions to monetize public and private assets with ledger-book creation of debt. There is no regulation extending the Federal Reserve Note (FRN) as legal tender for payment of debt to the state republics (12 USC §§411 and 412).

This is further verified by regulations pertaining to federal tax and loan depositaries at 31 CFR §202 et seq. “United States” chartered financial institutions traffic exclusively in “public money (Ø)”, which is treated extensively in Chapter 10 of Title 31, United States Code.

By definition, fiat money (Ø) and paper currency are obligations of the United States which can legally be in the custody of agencies of the United States and officers, agents and employees of United States agencies. This definition supports the theory that any use of Federal Reserve Notes (FRN’s) implies an adhesion contract that binds a U.S. citizen to the federal U.S. system. 

BANKING UNDER EMERGENCY POWERS

Federal Reserve Notes Not Redeemable

Public Law 90-269, issued March 18, 1968, declared that Federal Reserve Notes (FRNs) are not redeemable.  Public Law 95-147, 91 Stat. 1227, issued October 28, 1977, declared that all “United States” banking institutions, including State banks, were under the control and direction of the Governor of the International Monetary Fund (IMF).

Furthermore, as declared in section 10(a) of the Gold Reserve Act of 1934 is amended by striking out the phrase “stabilizing the exchange value of the dollar”. The Act states that the Joint Resolution to assure uniform value to the coins and currencies of the United States shall not apply to obligations of the United States issued after the date of enactment. 

International organizations, corporations and associations who had refused to pay their debts determined they could pass the loss of their non-redeemable, non-current notes, bonds and other evidences of debt to others, and therefore crown the fraud of the “money trust” with complete success.

United States Banking in Receivership

Several federal U.S. District court decisions have placed the entire U.S. banking system into “receivership” which is prima facie evidence of the U.S. bankruptcy of 1933. During the New Deal era, when banks were first federalized, they did not register with the Secretary of State of each sovereign Union state.

In conclusion, every U.S. commercial bank has been operating illegally since 1933. All loans, interest and foreclosures since then have also been illegal contracts (e.g. National Banking Association, Farm Credit System). 

The Federal Reserve Bank (FRB) was being absorbed into an entity called the Federal Banking Commission (FBC) though no supporting documentation can be found. The Federal Banking Commission (FDC) is comprised of Seven Governors including the Secretary of the Treasury, the Chairman of the Federal Reserve Bank (FRB), and the chairman of the Federal Deposit Insurance Corporation (FDIC).

This Federal Banking Commission (FDC) will abolish seven systems, including the Federal Reserve Bank (FRB), the National Banking Association, Thrift Associations and the Federal Deposit Insurance Corporation (FDIC), though the names might be retained for awhile. U.S. Congressman Henry Gonzalez (D-TX) had addressed the U.S. Congress and told them about the reorganization plan.

The Federal Deposit Insurance Corporation (FDIC) no longer protects United States commercial banks. National banks have recently de-federalized, returning to their state charters. Banks without state charters will close. Deposits are no longer guaranteed by the bankrupt FDIC.

Astronomical Amounts of Missing Money

The Federal Reserve Bank (FRB) and their member banks are using U.S. government funds as are corporate contractors that run the payment systems. Wall Street firms are selling U.S. government securities without full disclosure, according to Mark Skidwell. 

Catherine Austin Fitts warned the people of the united states of America and global investors about mortgage fraud at the US Department of Housing and Development (HUD), the engineering of the housing bubble that led to trillions more dollars in bailouts and trillions of U.S. dollars missing and unaccounted for from US government agencies beginning in fiscal 1998.

References:

1. Cornell Law | 12 USC §95; Archives | Emergency Powers Statutes, Senate Report 93-549.
2. GovInfo | CFR, Parallel Index of Rules and Authorities, page 751 (1995); Code of Federal Regulations (CFR)  
3. Wikipedia | Trading with the Enemy Act of 1917, 40 Stat. 411, enacted 6 October 1917, codified at 12 U.S.C. §§ 95a–95b and 50 U.S.C. App. §§ 1—44.
4. Findlaw | 12 USC §411 and 412.
5. Cornell Law | 31 CFR §202 et seq.
6. GovInfo | Public Law 90-268 (March 18, 1968) Public Law 95-147, 91 Stat. 1227 (October 28, 1977)(all American banking institutions were under the control and direction of the IMF) s;  Jeff Ganaposki, Patriot Primer #2, (Living Word, p.99).
7. Ibid.
8. John Prukop; No specific court cases known.
9. National Banking Association www.nationalbankers.org; Farm Credit System www.farmcreditnetwork.com 
10. Federal Banking Commission; No documentation can be found.
11. C-SPAN (June 8, 1992 at 2:30 pm) www.c-span.org 
12. Federal Deposit Insurance Corporation (FDIC) www.fdic.gov; Friendly Fire at the Fed, Business Week  (Dec. 13, 1993) www.businessweek.com/stories/1993-12-12/friendly-fire-at-the-fed (now Bloomberg)
13. Solari | $21 Trillion dollars is missing from the US government. That is $65,000 per person – as much as the national debt; The Financial Coup (video) with Mark Skidwell.
14. Wikipedia | U.S. Constitution [1:9:7]. No money shall be drawn…

Source: Sovereign’s Handbook by Johnny Liberty (30th Anniversary Edition), Volume 2 of 3, p.52. 54

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