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The Federal Reserve Bank Offer

The Federal Reserve Bank Offer

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Published by Kevin Francis Ramey
Empty Gold & Silver and Replace With Debt! How Profitable Is That? Wake Up America...Birdman^j^
Empty Gold & Silver and Replace With Debt! How Profitable Is That? Wake Up America...Birdman^j^

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Categories:Types, Research, History
Published by: Kevin Francis Ramey on Nov 18, 2010
Copyright:Attribution Non-commercial


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The Federal Reserve Bank Offer
As it was presented in 1913The Federal Reserve Bank of 1913 was not willing to loan Corp. U.S. money, they had plenty of it (gold and Silver coin minted by the United States of America Mint) theysimply were not willing to loan it to Corp. U.S. based on the fact that in 1912 Corp. U.S.failed to pay back its debts owed to the Federal Reserve Bank’s founders. Instead theyoffered that if Corp. U.S. wanted to learn about the Federal Reserve Bank’s offer theywould have to come down to Jekyll Island, off the cost of Georgia, to find out about it.The Jekyll Island deal was this: the Federal Reserve Bank would not loan money to Corp.U.S. but they would loan what they called the ‘Federal Reserve Note’ (hereinafter “FRN”). Corp. U.S. could borrow FRNs at a specific rate related to the arbitrary value printed on the face of the so called notes. The deal included that the rental rate wouldonly accrue so long as the note was in circulation and it would then be due and payable; italso included the guarantee that if Corp. U.S. could get the people to accept these notes incirculation as if they were money, the Federal Reserve Bank would guarantee their exchange by redeeming the notes from the people at their face value in United States of America gold or silver coin money. So long as the notes remained in circulation the rentwould accrue and until the rent was paid it would compound with interest at the same rateas the loan accrued.Corp. U.S. accepted the offer.To understand the deal lets take a closer look: it works a lot like a car loan (rental) wherethe car is borrowed at the specific rate agreed upon. You pay the rate of the rentalagreement and you get to keep the car for the term of the agreement. In the case of theFederal Reserve Bank’s loan of their FRNs, Corp. U.S. could borrow the notes, whichhad a specific face value printed on them, and the loan rate was set respective of thatvalue at the time of the agreement. Let’s say the loan rate was set at 3%. That meansthat as long as Corp. U.S. keeps those specific FRNs, they have to pay 3% of the notes’face value per year. Thus if they were to borrow $100,000.00 total face value in FRNsfor a day, they would have to pay $8.22 cents in rental costs for the use of those FRNs for that day. If they were to hold such notes for a year, they would have to pay, $3,000.00 inrental costs for the use of the notes. Corp. U.S. could return the FRNs at any time andwould only have to pay the agreed upon rental fee for the time the notes were held or were in circulation. The deal also included the provision that if the people were to turnthe notes in to the Federal Reserve Bank it would redeem the notes for their face valuefrom the people.In 1913, that was all there was to it. The notes were borrowed much like a car is rented(borrowed). As you can see this appears to be a very good deal for Corp. U.S.
The Federal Reserve Bank Offer
As it was compelled in 1933In 1933 Corp. U.S. was bankrupt. It had amassed so much debt that it could not possibly pay its debts, which largely consisted of unpaid compounding debts to the FederalReserve Bank (hereinafter “FRB”). As a result of the bankruptcy Congress set anemergency “banking holiday” where the local banks throughout the country were closedand all of the Federal Reserve Notes (hereinafter “FRN”) were removed from the banksand returned to the FRB thus ending the loan of those FRN. During the “holiday” the banks were also restocked with new notes from the FRB. These new notes included a“New Deal”.The new FRB deal included a new note. These notes were also called “Federal Reserve Notes”, but where the FRN the people were familiar with stated words to the effect of ,“redeemable at any Federal Reserve Bank”, the new notes stated, “this note is legaltender for all debts public and private”. The new FRN were acquired by Corp. U.S. andcirculated in virtually the same manner as the old FRN but the new FRN was notredeemable except in “like kind”. Therefore if the people were to take the new FRN tothe FRB they would receive a “like kind” exchange of notes, new for old.Though the original FRB deal was better for the people, the new deal fit with the law of notes which only requires a like kind exchange. To the people, their exchange of thenotes was always treated by them like a monetary exchange and they originally saw theFRN just like money because it was directly exchangeable for money. The new notesthey perceive as far less valuable and prone to inflation. The reality is new or old thenotes were acquired in the same fashion, they were arbitrarily printed on paper and borrowed into circulation, much like cars are borrowed in car rental agreements. TheFRB simply no longer backs the FRN with gold and silver coin money, due to Corp.U.S.’ bankrupt status, as a bankrupted entity it can no longer compel performance on itsdebts.To start the FRB program the FRB needed to back its notes with actual money, after itCorp. U.S. bankruptcy they didn't need to back their FRN at all.
The Social Security Act of 1935
What was its purpose?Interestingly, the Social Security Act of 1935 [H. R. 7260] was passed by Corp. U.S.’Congress two years after Corp. U.S.’ bankruptcy. The opening paragraph of the actstates:“An act to provide for the general welfare by establishing a system of Federal old-age benefits, and by enabling the several States to make more adequate provision for aged persons, blind persons, dependent and crippled children, maternal and child welfare, public health, and the administration of their unemployment compensation laws; toestablish a Social Security Board;
to raise revenue
and for other purposes
We added the bold emphasis to point out overall purposes of the act that remainedundefined showing only that the act was made “to raise revenue; and for other purposes.”Once the Act was passed Social Security Administration was formed and Corp. U.S. printed millions of Social Security cards. Now, we are reminded: Corp. U.S. was bankrupt at the time, it had no money and it could compel nothing until it resolved itsdebt. We are also reminded that this is a country of sovereign people the government issupposed to serve, not control (an elemental reason for Corp. U.S.' creation was to provide contractual controllability). Lastly, we are reminded that several points of theConstitution forbid the government, or its officers, from raising themselves above the people. So how is that Corp. U.S. plans on putting this Act into action?The only way it lawfully can — by the peoples’ voluntary participation. To this daythere is no requirement for anyone to participate with the Social Security Administrationin any way, that is, until you apply and the card accepted.
The Social Security Act of 1935
What is its effect?On application on an SS-5 form, the Social Security Administration creates a name andnumber and registers them in a database along with relevant information regarding therespective application. They then print said name and number on a pre-printed SocialSecurity card and send a package including the card to its recipient. The recipientreceives the package. The contents of the package (sometimes the card itself) plainlyreserves that the card does not belong to the recipient; rather it is the property of Corp.U.S. The package also plainly instructs the recipient to activate the card with a signatureif the recipient is willing to accept the responsibilities that go along with the card, whichinclude the card is to be held in a safe place until such time as its actual owner wants it back. Corp. U.S. also reserves the right to request the return of the card at any time andthat is about it.Looking over this relationship, one will discover all of the elements of a
(seeContracts, Trusts and the Corporation Sole) are clearly part of thisrelationship. Therefore, the Social Security Administration created relationship inherentwith the acceptance of the card is that of a Trust that remains an
agency of Corp. U.S.
under Corp. U.S.’ direct control through Congressional acts.Therefore, all of the property ever acquired by such trusts remains the property of thetrust’s beneficiary. In other words as a matter of law:Corp. U.S. holds equitable title to all property acquired with a Social Security number.
The Federal Reserve Note
How is it used?Like most things dealing with Law or History, to understand them one must study boththe law and the history that precedes them. The Federal Reserve Note (hereinafter 

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