Forum Post: Take out the jugular
Posted 12 years ago on Oct. 12, 2011, 5:30 p.m. EST by andrewbb
(16)
This content is user submitted and not an official statement
The Federal Reserve has been kiting checks to the US Treasury since at least 1971. Due to lack of consideration, the Treasury owes nothing to the Federal Reserve.
A couple of points to make:
- National debt goes to $0.
- Personal income taxes were originally designed to pay for the T-bonds, so personal income taxes can easily be repealed.
- The Treasury's fiduciary responsibility to savers of T-bonds can be made good through Congress.
- Since consideration was conveyed when the Fed sold the T-bonds to investors and banks, the T-bond market can remain afloat. (It will likely unwind naturally.)
gawdoftruth - Have you seen the $14 trillion dollar lien the IRS filed against the Fed a couple of months ago? Filed in the state of Maryland.
That's kind of right FedSmasher. However, I am a Wall Street trader who understands the financial and legal aspects. Nothing to fear.
If the Treasury asserts that it owes nothing to the Fed (due to lack of consideration), the Fed will go bankrupt. The bond market itself will wind itself out taking bonds to $0 eventually. Dollar is fine due to existing contracts. Many mortgages would go to near $0. College loans unaffected.
The losers in this will be the large investment banks who have leveraged themselves into the Ponzi scheme of the T-bond market. They can back out fairly gracefully, however only the smart will survive. Hedge funds might go bankrupt.
The population will simply watch the fireworks.
seize the fed and all its assets.
http://occupywallst.org/forum/dangers-of-unmoderated-forums/
http://occupywallst.org/forum/purple-dialogue/
http://occupywallst.org/forum/its-time-the-occupy-movement-as-a-whole-become-a-m/
http://occupywallst.org/forum/corporate-oligarchy/
http://occupywallst.org/forum/thetruth-socialismcapitalismcommunismmarxism/
http://occupywallst.org/forum/capitalism-versus-corporatism/
http://occupywallst.org/forum/no-war/
http://occupywallst.org/forum/help-me-understand/
http://occupywallst.org/forum/capitalism-a-love-story/
http://occupywallst.org/forum/sociology/
http://occupywallst.org/forum/energy-101-solution/
http://occupywallst.org/forum/ethics/
http://occupywallst.org/forum/break-your-left-right-conditioning/
http://occupywallst.org/forum/nader-kucinich-and-paul/
http://occupywallst.org/forum/5-facts-you-should-know-about-the-wealthiest-one-p/
http://occupywallst.org/forum/i-am-homeless-joe-jp-morgan-chase-accidentally-for/
http://occupywallst.org/forum/can-we-end-the-fed/
http://occupywallst.org/forum/why-end-the-federal-reserve-and-what-do-you-replac/
http://occupywallst.org/forum/where-are-we-and-how-do-we-move-forward/
http://occupywallst.org/forum/things-wall-st-did-were-not-illegal/
http://occupywallst.org/forum/teaching-the-occupation/
http://occupywallst.org/forum/this-forum-needs-structure/
http://occupywallst.org/forum/ows-is-not-your-personal-billboard-for-your-politi/
http://occupywallst.org/forum/systems-theory-primer/
http://occupywallst.org/forum/organize-inform-take-action-effect-change/
http://occupywallst.org/forum/better-website-needed/
http://occupywallst.org/forum/stop-playing-the-devils-games/
http://occupywallst.org/forum/nonviolence-the-only-path/
http://occupywallst.org/forum/ows-not-against-capitalism/
http://occupywallst.org/forum/this-is-not-about-political-stripe-it-is-about-bas/
http://occupywallst.org/forum/national-initiative-for-democracy/
http://occupywallst.org/forum/a-third-political-party-the-movement-of-the-middle/
http://occupywallst.org/forum/300-fema-camps/
http://occupywallst.org/forum/ows-is-a-false-flag-operation/
http://occupywallst.org/forum/why-this-will-not-work/
http://occupywallst.org/forum/paradigm-shift-now/
http://occupywallst.org/forum/a-proposal-for-focus/
http://occupywallst.org/forum/stop-the-bullshit-posts-and-get-organized/
http://occupywallst.org/forum/suggested-goals/
http://occupywallst.org/forum/oct-18-gao/
http://occupywallst.org/forum/naomi-klein-climate-change-fight-is-down-to-the-99/
http://occupywallst.org/forum/only-1-demand-includes-all-others-article-v-of-the/
http://occupywallst.org/forum/occupy-eco-villages/
This speaks to this point very well, I hope everyone will watch:
http://www.youtube.com/watch?v=PNRVRbpJMP0
Exactly right, volkan. In case you weren't aware, there is a legal principle called "consideration". In contract law, if no consideration is conveyed, the contract can be declared null and void. That is bonds from the Treasury. The Fed kited checks so voids the contract. The Treasury owes nothing to the Fed and that returns to Constitutional foundations.
The government borroving is 15 trillion dollars, private sector and consumers borrowings 30 trillon dollar, the total yearly interest payments for those borrovings is about 3 trillion dollars which means 20% of US GDP. So in this bull sheet system americans work to pay interests to banks like slaves witnessing they increasing powerty in time. Similar cases happening in Europe and other continents through globalisation.