By Johnny Liberty
In the United States, every piece of “paper currency (Ø)” in circulation has been printed by the U.S. Treasury, borrowed from the Federal Reserve Bank (FRB) with interest to be paid back by the federal U.S. government through taxation. Then, every U.S. Dollar (USD) printed is spent into circulation by the government, corporations and the people.
“[Every circulating FRN] represents a one dollar debt to the Federal Reserve System.”
Remember, this is a debt note that can never be paid back except through sweat, labor, hard work, the confiscation of assets, property and by taking away your unalienable sovereign rights and freedom.
We the People have unwittingly surrendered the lawful, constitutional money system to the international central bankers. We have accepted, without protest, a ”fiat (Ø)”money supply instead of real money ($). This fundamental act has destroyed our once great nation and ultimately enslaved our people economically. History repeats itself again and again, ad nauseum.
Global Economic Speculation and Casino Gambling
In our present global business model, the only way a nation’s economy can grow, develop and expand is by exponentially increasing the amount of debt in circulation. Every piece of paper currency in circulation incurs an escalating debt with interest to be paid via taxation.
Thus, the “fiat (Ø)” money supply increases both paper currency and much more frequently as electronic widgets inside a licensed central bank computer. The result of this expansion is inflation, devaluation and ultimately bankruptcy.
The financial end game for Western banking is on the brink of collapse, and may be very soon, as the U.S. government corporation cannot sustain the interest payment to the Federal Reserve Bank (FRB). Today, the total income of the federal U.S. government is not enough to make the annual interest payment on the national/federal debt.
In this economic model, stock markets soar and crash, currencies inflate and devaluate, consumer prices rise, and speculation is risky business on Wall Street. Our political leaders, and the central banks, are running the global economy like a casino gambling operation, and it is soon headed for a major adjustment or crash. Prepare yourself now for a tidal shift ahead, if it has not already happened by the time you read this book.
“In the 1970s, only 20% of all global investment and trade was speculative by nature, and 80% was directly related to the exchange of goods and services. By 1990, those figures had reversed. In 1993, only 5% of all global economic transactions were directly related to the exchange
of goods and services.” ~ Wilfred Guth of the Deutsche Bank
Fractional Reserve Banking
Inflation is not only created by the issuance of paper money substitutes, but also created with negotiable instruments such as “checks (Ø)” and “fractional reserve banking”.
A convincing illusion has been perpetrated via media propagandists that there is a limited supply of paper currency (Ø) and a reserve (Ø) must be kept on hand if a lot of people suddenly need to withdraw “cash” from the bank or ATM.
Did you know that the Federal Reserve Bank (FRB) and other international central banks routinely create “fiat (Ø)” paper currency, and electronic ledger entries, out of thin air? Did you know that the commercial banks with brands you are most familiar with are nothing more than separate accounting divisions of the Federal Reserve Bank (FRB)?
Here is a short summary of how “fractional reserve banking” works. Assume a legal central bank’s “reserve requirement” is 10%, although it is usually much less. For example, the local commercial bank (US Bank) down the street retains 10% (9:1) of your deposit just in case you want it back in paper currency or “cash”.
If you deposit Ø1,000 in the commercial bank, no sooner does it hit their cash box than you’ve created a Ø9,000 line of credit (Ø) so the bank can loan it to the guy in the line behind you, or invest in any thing else they want (stocks, bonds, real estate) at prevailing rates of interest. It is that simple.
This is how commercial banks create “money (Ø)” out of thin air. They also create income through service charges or bounced check fees. If you bounce a check (Ø), you pay a bounced check fee. If the commercial bank writes a bad check (Ø), it is legally called a “loan (Ø)”. All that is actually happening is that you are exchanging one promissory note for another.
Wow, that is incredible. Wouldn’t we all like to be able to create money out of thin air as the commercial banks do? That is such easy “money (Ø)”. But even to contemplate such an act could land you in prison for “conspiracy to counterfeit (Ø)”. Through legislative consent outside of the bounds of the U.S. constitution, both commercial and central bankers have acquired the licensed privilege to create money out of thin air. Then you are the one who must pay and pay and pay. This is the greatest scam of all times.
Commercial and central banks make a fortune from the ignorance of We the People. “Fractional reserve banking” is the reason banks compete for deposits in either checking or savings accounts. By depositing funds in a bank, you are expanding the national economy and unwittingly impoverishing yourself via inflation.
It works similarly when you use your credit card to make a purchase. Suddenly, moments after you swipe the credit card, “money (Ø)” springs into existence. No “money (Ø)”is actually loaned by the bank to the retailer. This is magic and bankers are the magicians!
While Banks Grow Richer, You Fall More Deeper Into Debt
Do you still wonder why the banks keep getting richer and richer and foreclosing on more and more property from the people? Do you still wonder why all the largest buildings downtown have the name of commercial banks on them?.
There are trillions of dollars of “bad checks (Ø)” in circulation which have created all this public and private debt. This is evident as the national debt, both funded and unfunded obligations are growing exponentially.
Current monetary policy has legalized check kiting, fraud, racketeering, and counterfeiting, with a lawful basis for repudiating both private and public debt. Perhaps you can now understand what a criminal and corrupt enterprise the Federal Reserve Bank (FRB) and their political cronies in government are running?
The Federal Reserve Bank (FRB) controls the money supply, interest rates, the velocity or speed of introduction of paper currency (Ø). Today, when the Federal Reserve Bank (FRB) prints an excess of new paper currency (Ø), thereby inflates and simultaneously devalues the paper currency, they call it a fancy term – “quantitative easing”.
The Federal Reserve Bank (FRB) has access to an unlimited supply of paper currency (Ø), paying the U.S. Treasury only the printing costs. Checks and electronic ledger entries of both credits and debits total far more than 95% of all deposits and transfers. Securities, bonds, mortgages, buildings, land, and stocks compose most of the hard tangible assets that banks own.
MONEY SUPPLY • INTEREST RATES • VELOCITY
The Federal Reserve Bank (FRB) can increase or decrease the “fractional reserve” requirements at will. Therefore, a “run on the bank” could not actually happen as it once did in the past. The central bank simply prints as much paper currency (Ø) as they need to retain confidence and control of the system.
The reason for “fractional reserve”requirementsis to regulate the greed of the member banks, and most importantly to maintain a certain level of quality in the investment portfolios. These portfolios have degraded significantly since the mortgage fraud and derivative investments which contributed to the Great Recession of 2008.
Federal Reserve Notes (FRNs) are nothing more than promissory notes for U.S. Treasury securities (T-Bills) — a promise to “pay (Ø)” an un-payable debt to the Federal Reserve Bank (FRB) in gold or silver.
Have you borrowed paper money (Ø) to consolidate your debt only to discover you were more indebted than before? It is because you did not actually “pay (Ø)” the debt. Instead, you restructured the debt for future “discharge (Ø)”, but it was never paid-in-full.
Our economic/financial lives have been reduced to managing debt and earning paper money (Ø) to service an ever growing liability, both private and public. This, wise friend, is economic slavery.
Paying or Discharging Debt?
There is a fundamental difference between resolving and “discharging (Ø)” a debt. To “pay (Ø)” a debt, you must pay with value or substance (i.e. gold, silver, barter or a commodity). With FRNs, you can only “discharge (Ø)” a debt.
You cannot resolve a debt in a debt currency system. You cannot resolve a debt with a paper currency (Ø) without being backed by substance. Additionally, there is no valid or lawful contract under the Common law unless it involves an exchange of “good and valuable consideration, in other words, real money ($)”.
> ECONOMIC SLAVERY—A total loss of ones control over your financial affairs; working for no reward, no “money,” no substance, no asset accumulation; working for an unseen master; unknowingly surrendering ones property and assets to public indebtedness; invisible and undeclared bankruptcies.
The truth is we are doing business in “counterfeit (Ø)” paper currencies issued by the United States and European Power structure, an elite cartel. Are we bankrupting ourselves and our children into economic slavery? Wise up America.
“There is a distinction between a ‘debt discharged’ and a debt ‘paid.’ When discharged, the debt still exists though divested of its charter as a legal obligation during the operation of the discharge, something of the original vitality of the debt continues to exist, which may be transferred,
even though the transferee takes it subject to its disability incident to the discharge.”
~ Stanek v. White, 172 Minn. 390, 215 N.W. 784
Lawful Money as Gold or Silver
The net result of the Federal Reserve System is a hugely devalued dollar (Ø1 dollar in 1913 becomes Ø100 in 2022 or Ø20 dollars in 1913 becomes Ø2,000 in 2022). That’s a cumulative inflation rate of 10,000% in 109 years. Inflation over time is a hidden tax and essentially taxes the earnings of future generations.
The result is a persistent decline in real Individual income, an increasing un-payable national/federal debt (Ø30.4 trillion in 2022), an accelerating exponential debt curve, and ultimately the transfer of all the property and assets of the people of the united states of America to the international centrals bankers and the United States, European, Russian and Chinese Power structures behind them.
“The Federal Reserve debt note system was
established by U.S. Congress under its
‘District’ powers because the Constitution
required a gold or silver standard.”
~ International Tax Technologies
The United States and state constitutions prohibited the issuing of foreign bills of exchange (FRNs), or making anything except gold or silver as legal tender in the payment of debts. The Founders considered this an important check and balance against the encroachment of foreign money in the new Republic.
Why do We the People continue to allow this grand theft to occur, in broad daylight, without taking a stand for the constitutional Republic, and our own sovereign rights?
“No State shall…make any Thing but gold and
silver Coin a Tender in Payment of Debts.”
~ U.S. Constitution [1:10:1]
Lawful, constitutional and honest money ($) is coined or printed by the U.S. Treasury and spent into circulation by the federal U.S. government. The $5 U.S. Note and JFK’s $2 bill were interest-free. These are the constitutional components of a sound monetary system.
References:
- “Represents a debt.” Javelin Press | Goodbye April 15th by Boston T. Party (Javelin Press, Austin, Texas, 1992, pp.4/3-4/11); Federal Reserve Bulletin www.federalreserve.gov/publications/bulletin.htm
- Wikipedia | Comparison Between U.S. states and sovereign states by GDP; Wikipedia | List of states and territories of the United States by GDP; Quote from Wilfred Guth of the Deutsche Bank; Javelin Press | Goodbye April 15th by Boston T. Party (Javelin Press, Austin, Texas, 1992, pp.4/3-4/11); Federal Reserve Bulletin www.federalreserve.gov/pubs/bulletin; Wikipedia | Dodd-Frank Wall Street Reform and Consumer Protection Act.
- Wikipedia | Fractional Reserve Requirements; The 2014 fractional reserve requirements for commercial banks is 0% for accounts under Ø14.5 million, 3% (33:1) for accounts between Ø 14.5 – Ø 103.6 million and 10% for accounts above Ø103.6 million; Federal Reserve | Monetary Policy.
- Javelin Press | Goodbye April 15th by Boston T. Party (Javelin Press, Austin, Texas, 1992, pp.4/3-4/11); Federal Reserve Bulletin www.federalreserve.gov/publications/bulletin.htm
- Trading Economics | Money Supply; Investopedia | Quantitative Easing
- Ibid.
- Definition of “economic slavery” coined by Johnny Liberty.
- Court Listener | Stanek v. White, 172 Minn. 390, 215 N.W. 784.
- Historical Devaluation of U.S. Dollar https://mykindred.com/cloud/TX/Documents/dollar/; Inflation Calculator: https://www.usinflationcalculator.com; U.S. Debt Clock www.usgovernmentdebt.us
- Quote from International Tax Technologies (defunct).
- Constitution Congress | U.S. Constitution 1:10:1]. No State shall enter into any treaty…
- Wikipedia | United States Note www.theeconomiccollapseblog.com/archives/debt-free-united-states-notes-were-once-issued-under-jfk-and-the-u-s-government-still-has-the-power-to-issue-debt-free-money; Wikipedia | Executive Order #111110.
Source: Sovereign’s Handbook by Johnny Liberty (30th Anniversary Edition), Volume 2 of 3, p.22 – 26
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