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Blanket Immunity For American Taxpayers… A Plan to Dismantle Debt Lawfully

constitution-signingBy Marilyn MacGruder Barnewall

 

In the United States House of Representatives, the “Jubilee Act for Responsible Lending” (otherwise known as H.R. 2634) was passed on April 24, 2008. The heading of that Act explains the concept behind what it covers:

“H. R. 2634

IN THE SENATE OF THE UNITED STATES

April 24, 2008

Received; read twice and referred to the Committee on Foreign Relations

AN ACT

To provide for greater responsibility in lending and expanded cancellation of debts owed to the United States and the international financial institutions by low-income countries, and for other purposes.

SECTION 1. SHORT TITLE.

This Act may be cited as the `Jubilee Act for Responsible Lending and Expanded Debt Cancellation of 2008′.”

In other words, the United States wants to cancel the debts owed to it by international financial institutions in low-income countries.This is a little like a man who stands on the street starving while offering to buy the rest of the world dinner – using a credit card, of course.

You can read the rest of the Jubilee Act H.R. 2634 HERE.

It doesn’t take a lot of mathematical skill to figure this out.The dollar, or more accurately stated the Federal Reserve Note, has depreciated to the point where its value (being generous) is about 6 or 7 cents when compared to the 100 cents it was worth when the Federal Reserve Act was passed on December 23, 1913 and the unlawfully established Federal Reserve System took over the reins of America’s monetary management.

The 100-year contract established with this privately-owned corporation known as “The Federal Reserve” will come to an end on December 23, 2013.On its 100th anniversary, the Federal Reserve System leaves the American people about 17 trillion dollars in debt – times five in long-term debt.As of 2012, the Gross Domestic Product of the United States was close to $16.5 trillion.Comparatively, Spain’s Gross Domestic Product for 2012 was about $1.3 trillion.Spain’s debt was $2.3 trillion.Spain has a 167 debt-to-GDP ratio.The United States has a 106 percent debt-to-GDP; Italy’s debt at $2.5 trillion is 108 percent debt-to-GDP.The European Union was at 85 percent at year-end 2012.

When you take all of the above and input it into my brain, it comes out this way:For every dollar we print to repay our debt, we go 46 cents more in debt than we were before we printed the currency (or sold the bond or keyed a number into a computer) to reduce our debt.In other words, as things stand at this moment in time it is impossible for America to repay her debt.You can find the statistical data for debt-to-GDP HERE.And this is just the tip of the iceberg as it relates to actual US debt.Or, look at it this way.One trillion seconds is almost 32,000 years. So to pay off the debt, if Congress put a hundred dollar bill per second into an account to pay the debt, it would take well over 4,000 years to get the job done.

There is much history regarding the concept of what is called odious debt.Americans need to pay attention to what it is and learn to use the concept to tell the US Treasury and Federal Reserve System where to go look for the trillions of dollars they say the American people owe in government debt.According to the Doctrine of Odious Debt, we the people owe about 25 percent of what the Federal Government and the Federal Reserve System tell us we owe.

The concept of odious – or immoral – debt is not a bee I got in my bonnet one day and decided to dream a little dream of reduced debt, fewer taxes, more jobs, and a return to the Rule of Law.This is a serious matter and is one with which the nations of France, Russia, Germany and the United States are very familiar because it has been used by those nations and others.

After the Civil War, it was found that the Confederate States incurred great debt in its attempt to secede from the Union.The North won that war.It would have been immoral for the taxpayers of the United States (North and South) to be forced to pay the debts of the Confederacy which had seceded from the Union during the time the debt was incurred.The 14th Amendment of the United States Constitution repudiated those debts.

Section 4.

 

The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any state shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.

Section 4 of Amendment 14 raises some very interesting questions regarding “insurrection” or “rebellion” as, it can be argued, Citizens of this nation had an economic war declared against them by too big to jail banksters when the protections of the Glass Steagall Act and the McFadden Act were, with careless disregard for the outcome, over-ridden.For close to ten years, Washington’s political machine has used debt to enslave the American populace… what else can you call debt that is so huge it is not repayable?The only thing that stands behind the value of the US Federal Reserve Note – American currency, regardless of what you call it – is the blood, sweat and tears of the American people.If you don’t pay your taxes, you go to jail.According to the 14th Amendment, public debt must be authorized by law.From where does our Rule of Law in America flow?The Constitution!

We do not honor debts resulting from dishonorable purposes.We did not honor the debts of the Confederacy.After the Spanish-American War ended in 1898, the US turned to the Doctrine of Odious Debt when it rejected Cuba’s debts to Spain.We said the debts “…were imposed upon the people of Cuba without their consent and by force of arms.”

The peace negotiators argued that much of the debt was used to crush the efforts of the Cuban people to revolt against the domination of the Spanish.The money was spent in a way that was contrary to the interests of the Cuban people.To ask them to pay for debts incurred to help continue keeping them in a perpetual state of slavery would be immoral… it was odious debt – or, unlawful debt.To command the people of any nation to keep their shoulders to the rock of debt and keep pushing it uphill under threat of imprisonment if they do not is… slavery.Does that mean that any funds spent by the NSA for PRISM to spy on the American people are odious – immoral?How about the funds spent by the IRS in an effort to crush the efforts of some of the American people from revolting against unconstitutional domination?

According to an excellent research article written by Patricia Adams, executive director of Probe International and author of “Odious Debts:Loose Lending, Corruption, and the Third World’s Environmental Legacy” (London:Earthscan, 1991), the legal Doctrine of Odious Debts was shaped and hones by Alexander Nahum Sack about 25 years after the settlement of the Spanish-American War.If you are interested in a more in-depth overview, you can find Ms. Adams’ article reprinted at the LUDWIG VON MISES INSTITUTE SITE.She said:

“After the Russian Revolution of 1917, the Bolsheviks repudiated Russia’s debts indiscriminately. Sack, a professor of law in Paris and former minister in the Tsarist government, authored two major works on the obligations of successor systems and defined in law which debts are legitimate and which illegitimate. With colonial territories becoming independent nation states and colonies changing hands, with monarchies being replaced by republics and military rule by civilians, with constantly changing borders throughout Europe, and with the ascendant new ideologies of socialism, communism, and fascism overthrowing old orders, Sack’s debt theories dealt with the practical problems created by such transformations of state. Like many others, Sack believed that liability for public debts should remain intact, for these debts represent obligations of the state–the state being the territory, rather than a specific governmental structure. This he based not on some strict

dictate of natural justice but on the exigencies of international commerce. Without strong rules, he believed, chaos would reign in relations between nations and international trade and finance would break down. But Sack believed that debts not created in the interests of “the state” should not be bound to this general rule. Some debts, he said, were “dettes odieuses.” If a despotic power incurs a debt not for the needs or in the interest of the State, but to strengthen its despotic regime, to repress the population that fights against it, etc., this debt is Odious for the population of all the State,”

As I understand what is said in this well researched article, “…if a government becomes despotic and incurs debt not for the needs or in the interest of the State but to strengthen its despotic regime, to repress the population that fights against it,”it sounds to me like all of the quantitative easing from TARP to TALF to the multi-trillion dollar loans made by the Federal Reserve System to Wall Street investment banks and international banks (as well as corporations — $16 trillion alone in 2011), can be considered “odious debt” and stricken from the books – and the backs – of the American (and French, and German, and British, and Greek, and Italian, and Spanish) people.

Since 2002, Argentina has fought the International Monetary Fund’s (IMF’s) attempts to impose restrictive measures of economic austerity on the country. The IMF wanted to do what the IMF is known worldwide for doing:It wanted to finance infrastructure, pay for research… you know the routine:Make a country borrow and spend money building roads and airports and bridges and other “shovel ready projects.” Such strategies force any nation deeper and deeper and deeper in debt until it is in economic ruin.Sound familiar?

On the other hand, it is equally true that Argentina seems to lack character as a state when it comes to repaying its loans.They seem to believe that banks in other nations should lend them money but they can choose not to repay – and other nations and banks should keep lending them money.They have not yet figured out that the credit process is a two-way street:“I lend you money; you repay the money.”

Aside from nations that view the Doctrine of Odious Debt as a means to get out of debt every ten years, this concept may lend itself to an exit strategy for sovereign nations of the world to escape the crushing debt being heaped on the heads of people worldwide.The idea does hold some thoughtful possibilities. Iceland thought so – and its crooked bankers and its crooked politicians sit in Icelandic prisons rather than getting multi-million dollar bonuses annually… and Iceland thrives.Too bad the Greeks and Spanish haven’t followed in their footsteps.

What the Doctrine of Odious Debt makes quite clear is that a lie has been forced upon the majority of the world’s population by oligarchic elites.They like the concept of a two-class system with them as the elitists, running things, while the rest of us who used to be middle class are shoved into the labor class forced into careers they, not we, decide are best for us.

Undoubtedly, one reason Julian Assange sits in the Ecuadorian Embassy in London is because he gave copies of documented conversations between elitist bankers and others about how to cripple the economies of South America.The conversations Assange theoretically gave the South American governments focused on how to take South America’s energy resources, prevent economic recovery, and force the governments of the continent to pursue a neo-colonialist policy “so Spain, Italy and Germany can, with British capital, benefit from the difficulties sure to follow when the recommended policies are followed.”Anyone who has read Confessions of an Economic Hit Man will recognize the parallels.

And, without intending to, Ecuador has exposed a great weakness in the world financial systems.

On December 16, 2008, Ecuadorian President Rafael Correa didn’t make a scheduled interest payment on private bonds.Ecuador had defaulted in 1998 when going through a financial crisis.This time, however, was different.Correa told the world that his small nation was not going to pay “obviously immoral and illegitimate debts.”

Ecuador’s gross domestic product (GDP) is close to 50 billion euros and its “immoral debt” is about 11 billion euros.It’s a small country.But that isn’t the point.The “immoral debt” point made by Rafael Correa, was announced on television on December 12, 2008.He said immoral and illegitimate debts were those debts that violated the Ecuadorian Constitution and oppressed his people.

The question, then, becomes:What debts are “odious” or “immoral,” and which are not?What is an illegitimate debt?President Correa related the Ecuadorian “immoral debt” to violations of that nation’s Constitution.If the Tea Party and Liberty Action Groups have any understanding of the significance of what is being said here, they will find access to constitutional legal and accounting expertise that can answer the question:What debts are odious or immoral?Which debts are not?

In America, we can look at mortgage-backed derivatives and millions of unlawful foreclosures and costing the people trillions of dollars to immediately identify trillions of dollars of property value and profits by banks that can be defined no way other than immoral.Well, perhaps unlawful, too.These debts and the government funds loaned to the banksters that created them and who got bailed out by additional funds from taxes on American citizens can probably make the best claim of “immoral” or “odious” debt of any citizens in the world.

What else might represent “immoral debt?”

If, as Ecuadorian President Rafael Correa says, “illegitimate debts violate the Ecuadorian Constitution and oppressed his people,” every other country that is drowning in immoral debt can make the same logical and lawful claim.If debt is defined as anything unconstitutional, a claim can be made that the entire Federal Reserve System is “unconstitutional.”

Article One, Section 8 of the United States Constitution says “The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United State;” Section 8 also says Congress has the responsibility “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;”.

There is a lawful way to change the Constitution of the United States.It involves both the House of Representatives and the Senate.Each must approve by a two-thirds supermajority vote a joint resolution amending the Constitution.The joint resolution does not require the signature of the President but is sent directly to the states for ratification.Once ratified via a vote by the People, the Constitution is lawfully amended.That is the process put in place by our Founding Fathers.

As anyone who is familiar with the history of the Federal Reserve Act of 1913 knows, this procedure was not followed.Instead, politicians who supported the concept of a central bank (which America had only briefly on two occasions until 1913) let their opponents go home for Christmas on December 23rd and proceeded to pass this Act unconstitutionally.The Congress cannot, under its own limited power, change the Constitution of the United States.The Federal Reserve Act of 1913 and the banking system that evolved from it have never been constitutional.

Foreign nations should be aware:You may be doing business with an unlawful Corporation if you’re doing business within the Federal Reserve System.The Federal Reserve System continues to be in violation of the US Constitution and not qualified to create debt in the name of the people of the United States of America… the debt of the Fed being thus “immoral” or “odious.”That means it may be debt we, the citizens of this Great Nation, can write off.

Even by-passing the unlawful – which means “odious” and/or “immoral” – debt created by the Federal Reserve System, there is much debt from equally unconstitutional sources.For example, only the Congress has the constitutional (moral) authority to declare war.Could that mean that any debt from non-declared wars represents “immoral debt?”It’s certainly a good argument!

Eduador’s President Rafael Correa says immoral and illegitimate debts violated the Constitution of his country and oppressed his people.He refused to pay them.If that is the standard by which we define “immoral debt,” it is of critical importance.It presents to the American people – to the people of the world – a strategy for getting rid of a lot of debt… immoral debt.“Oh, Immoral Debt, How do I define thee?Let me count the ways…”

It sounds like what we Americans needs is a good, old fashioned South American style refusal to repay “immoral debt.”If you really look closely at the debt incurred since 1988, a vast majority of it could easily be defined as unconstitutional and, thus, immoral – or, if you prefer, “odious.”

I love irony… especially when it bites someone in the butt who really deserves it.

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Posted by on Aug 27 2013, With 0 Reads, Filed under Americas, Economics & Markets, Economy, Editor, Opinion Maker, World. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.
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17 Comments for “Blanket Immunity For American Taxpayers… A Plan to Dismantle Debt Lawfully”

  1. Great overview of the problem which can further solved by a simple Google search;
    Try this;

    CLASS ACTION LAWSUIT AGAINST THE FEDERAL RESERVE BANK + PAUL LEO FASO
    or try this;

    http://jhaines6.wordpress.com/2012/06/29/class-action-lawsuit-against-the-federal-reserve-bank-426-2011-and-duly-ignored-thanks-to-p/

  2. The most accurate explanation of our current financial situation – and the best practical solution for dealing with it once and for all – has been put forward over the last few years by Mr Bill Still.

    *****http://secretofoz.billstill.com/index.php/secret-of-oz/oz-economics

    There are also a few videos of him being interviewed that should be watched. This IS the solution that will help everyone except – for the banksters.

    • google “Jordan Maxwell”. Lots of mind boggling info in line with Amanda Euden´s comment above. Easy to read. Shocking revelations. No need for Americans to pay tax, and so on.

  3. It’s much simpler than this. ALL DEBT IS ODIOUS and immoral.

    Think of it this way: A dollar is a work-credit. You do an hour’s work, you generate x dollars. In other words, currency should be printed as a RESULT of work being done. This is exactly the opposite of the West’s current system, where central bankers issue currency to ALLOW work to be done.

    This is a perversion and depredation of the highest order. It allows the banks control over EVERYTHING. Unless the banksters generate money, no work gets done, no bridges get built, no doctors get paid. Add to that the notion that the bankers must be paid INTEREST on work done by someone else. Worse yet, the banksters can generate EXTRA money to cover frauds and scams of all kinds, currently known as speculations, derivatives, the stock market, financial “markets”, money changers, many other names, all equally immoral and obscene.

    The answer is quite simple in an information age. Keep track of all the work done and the wages paid. Make certain that the currency in circulation is EXACTLY equal to the amount of work done, no more, no less.

    Sit back and watch as all the bankers get their first REAL jobs in the mines or repairing destroyed nuclear reactors or fixing leaking oil wells.

  4. thanks for the very informative article.

    The early church, the Pope outlawed usury. Islam does as well. So business people were forced to turn to the Jews of that time, who had no such restriction.

    Soon, they had enough money to finance all sides of every conflict that has taken place, since.

    Is there any chance that our government, now controlled by Zionists will not renew the illegal agreement with the Fed in December?

    It would seem, that in and of itself creates a conflict of “interest” and must be considered odious.

    So, what can we do to stop the Fed? We cannot let this mess continue.

    • Marilyn MacGruder Barnewall

      Thanks for your comment… and you’re correct. All of the wars since the inception of central banks around the world have financed both sides of every war.

      Will the Congress do anything about the Federal Reserve 100-year contract? Not likely… but your last question is something I will address in my next Veterans Today article: What can we do to stop the abuses of the Federal Reserve System? How can we decentralize the over-centralized power base of this unlawful corporation? What we do must be lawful — and what I believe will work is lawful — and we don’t need to go through the corrupted court system to get the job done.

      Thanks for your thoughtful response.

      Marilyn B.

      • You may not need to write that next article, Marilyn. The FED is as broke as a church mouse and very desperately NEEDS a war. Since the still sane Brits won´t let war monger Cameron join in Syria, your government is planning to go it alone. That´s what you call desperate. Via Syria Into WW3. After this war chaos, we´ll all be longing for order, voila, we will finally get it, our new world order and, a brand new – invigorated F E D.

  5. Excellent piece, and I believe you make some sound legal points. The issuers of The FEDERAL RESERVE NOTES have used their illegal power to buy-up all that they need to stay in power, including the media. There is a way to claw-back ill gotten gains.

    Americans need to know what happened with The Act Of 1871 and the 13th Amendment.

    • Marilyn MacGruder Barnewall

      I agree re The Act of 1871 and the 13th Amendment.

      My personal belief is that the media is controlled by multi-national corporations which direct the Fed to do much of what it does. I believe the multi-nationals, working in concert with some well-known Wall Street firms and Hedge Funds, have purchased controlling interest in our media outlets.

      Good insights, Allesandro.

      Marilyn B.

  6. there is a small “nation” residing within OUR borders, an independant city-state District of Criminals.
    it wages warfare against the American People every way possible, handing us the bill for all of it too.
    need an example? howabout department of education SWAT TEAMS for unpaid student loans in an economy that was sabotaged with DC corporate welfare grants in the first place!

    if the “war on drugs” were real, the CIA importing the dope and the banks laundering the money would be shut down, but instead, they were handed bailouts as WE worry about being unemployed-homeless.
    during Iran-contra hearings, oliver “I cant recall” north wasnt fired for alzheimers incompetence, he was allowed to continue on being credited with the plans for “continuity of (corrupt!) government”.
    enough rant for now, even though I’d barely scratched the surface..

  7. Iceland and Hungary lead the way.
    Now it is up to the rest of the world to forcefully reject the talmudic-zionist induced debt slavery system.

    • Totally agree but look at what happens to countries that reject the debt slavery system,,… Iraq….,,Libya….BRICS, to name a few.

      • true, and London was ready to call Iceland a “terrorist nation”, but it’d been far too absurd!
        Iceland had proved it, over 90% of the “debt” was criminally contrived BS, then the banksters are allowed to whine about payment for the something 10% that might be legit?!

    • And the Hungarian State Railway Company has just been sued by American Jews for transporting Jews to concentration camps during WW2. There will be a barrage of negative media and incidents that will punish Hungary for being so naively brave.

      • There has been, and still is very bad press in Germany about Victor Orban, Hungarian PM. Traitor Supreme, Angela Merkel, in the interest of the FED´s New World Order EU branch in Brussels, is doing her utmost to topple Orban, but somehow `Victor` survives. I hope that his doctors don´t soon diagnose cancer, an illness miraculously befalling those who refuse to play the FED´s game.

    • Marilyn MacGruder Barnewall

      You are SO right! Iceland and Hungary have shown us the way. Now all the rest of the world has to do is stand with them.

      Marilyn B.

  8. Of course, this is why we have a police state to protect illegitimate interests. And totalitarian control of major media as a cover for continuing criminality.

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