Remnant Review
A site member is concerned about an anonymous article on a survival blog.
Here are basic rules governing the high cost of reading time:
1. Ignore all survival blogs.
2. Ignore all collapse blogs.
3. Ignore all anonymous economics articles.
4. Ignore all articles with lots of exclamation points or -- worse -- all-caps sentences.
5. Ignore all articles that you find incoherent.
6. Ignore all articles that you cannot explain to your sister.
It may be that you will pick up a tidbit of accurate information when you violate these rules, but the cost in forfeited time is not worth it.
If you read a survival blog, see where the editor lives. If this is not a small town ZIP code, he doesn't take himself seriously. Neither should you. The same applies to collapse blogs.
The subscriber read this:
Here, we read the following:
"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it." -- Congressman Louis T. McFadden in 1932 (Rep. Pa)
Whenever you see McFadden quoted, you are dealing with a Greenbacker. Greenbackers believe in Congress-issued currency.
Why start an article with a quote from an obscure Congressman back in 1932? Why not quote Ludwig von Mises or Murray Rothbard? Here is the correct answer: "The author has never read Mises or Rothbard."
Without any further introduction, the author begins with this:
One has to deduce and discover the proper purpose and meaning. Here is how you know that there is something seriously wrong with your understanding of the USD and the federal reserve: the 2010 Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act). This bill is insidious!
The bill is 2300 pages long. It is incomprehensible to anyone except lawyers who specialize in banking law. No Congressman or Senator has read it. Neither has the anonymous author of this article.
Before the bill, when you put your currency in the bank or purchased a bank CD, you become a debtor and the bank became the creditor.
Fact: You did not put U.S. currency in the bank. You rarely use paper currency. Almost no Americans do. Illegal immigrants do. American currency is used mostly in Latin American black markets.
They owed you your deposited currency on demand or the value of your CD either when terminated or expired. Now, when you place your currency in the bank, you become an unsecured creditor and the bank is the debtor! You just loaned what you thought was your currency to the bank! Furthermore, you are last in line to get your money if the bank fails! Thus, you assume the role of an unsecured creditor.
This has been true for over 500 years. So, what else is new?
No way? Read about the plan: Dodd-Frank Kills: How The U.S. Joined The International Bail-In Regime
He footnotes an article that appears on the website of Lyndon LaRouche, one of the oddest economic fringe figures in American history. He is a great defender of the pro-central bank policies of Alexander Hamilton, Henry Clay, and Abraham Lincoln: the "American system." It was mercantilism.
The article is in gibberish. Read it for three minutes. You will not understand it. This is not your fault. This is the author's fault. She is incoherent.
And we are lead to believe that the FDIC is there as a backup to make us whole should the bank be unable to pay their debt to you. You can read about it here: Resolving Globally Active, Systemically Important.
The document he refers to is a jointly published statement of hopes and dreams by the Bank of England, the FDIC, and the Federal Reserve System. It announces this reasonable principle:
The goal is to produce resolution strategies that could be implemented for the failure of one or more of the largest financial institutions with extensive activities in our respective jurisdictions. These resolution strategies should maintain systemically important operations and contain threats to financial stability. They should also assign losses to shareholders and unsecured creditors in the group, thereby avoiding the need for a bailout by taxpayers. These strategies should be sufficiently robust to manage the challenges of cross-border implementation and to the operational challenges of execution (p. 1).
Shouldn't losses go to bank shareholders? Shouldn't losses go to unsecured creditors? If not, where else should they go?
He is upset because of a reasonable assumption. Why?
He continues:
Do you understand what this means? When you deposit your currency into your bank account, you are loaning your currency to that bank. It is no longer your currency. It never was anyway nor will it ever be yours. It has turned into a loan. Like any loan, the debtor -- the bank-- can only pay back the creditor -- you -- if they have the currency to pay. Instead, they have written into the law that the bank can repay in shares of that bank if there is a bank failure. Great! You receive shares of a bankrupt, worthless bank. The strange paper bets called derivatives, aka risky bets made by the banks, are even paid first. Great. There are TRILLIONS of $$$ in derivatives. You are an "unsecured" debtor! You have no leverage or claim.
So what? The FDIC insures a single account up to $250,000. Joint accounts are insured up to $500,000. Therefore, these accounts are not unsecured. They are secured by the U.S. government.
For hedge funds with accounts above $250,000, they are on their own. But isn't this exactly what we should want? Should you and I as taxpayers be on the hook for their losses? (Yes, this is a free market argument against the FDIC, the FED, and the Bank of England.)
How can bankers do this?
Because this is what all bankers have done since the 14th century in Italy.
How is it that the politicians sponsored, wrote, and passed this law? They understand something that you do not. You do not own that dollar. You are simply being allowed to use it. That is why they can take it from you, inflate it, outlaw it to go cashless, tax it, hypothecate [3] it (add your deposit with many others and then use the total sum as collateral), pay you negative interest (which is a technical default, since you are owed at least what you deposited), and of course simply seize it using the IRS or the revenuers-- civil asset forfeiture [4] -- if you are pulled over. It's similar to a banker coming to your house and driving the car that you thought you owned. So where does this leave you and I? I am feeling the noose!
(1) If you lend money, you may not get it back. Will wonders never cease?
(2) If you borrow money, and you cannot repay, the lender may legally sieze your collateral. Can you imagine such a thing?
"So where does this leave you and I?" It leaves the author back in third grade, when children do not know about pronouns as direct objects in sentences. That is bad news for him. I hope it is not bad news for you. I am sure it is not bad news for me.
Why did I not go the way of my friend, Vern?
"Hey, Vern!"
I knew how to live separate of this currency system 35 years ago! He built a number of homes, sold them, and turned all of the profits into gold and silver. He kept a piece of land and built a tiny home for himself, living off of the grid. He does odd jobs from time to time for cash. He has established an open case in District Court establishing himself as a private citizen, not a sovereign citizen. Sovereigns are kings and queens and bunk. He declares that he is not a corporation and rejects being under the corporate umbrella of the United States of America Incorporated. Read about the Act of 1871. How do you like being ruled by a heartless, deceiving, sleazy corporation?
Vern was a trusting soul who was deluded by the jailhouse lawyer jargon of the tax patriot movement.
His open case clearly instructs all parties part of or affiliated with USA, Incorporated that they are to address him as a private citizen further stating that they do not have legal authority over him. Of course, he is correct.
Of course, he is a victim of charlatans.
It's kind of the same principle as a county sheriff. Thus, he has alleviated himself from the responsibilities that emanate from the contract with USA, Inc. and their USD. Everything you sign, all of your legal documents that identify you, and all of your contracts are in capital letters -- the hallmark of a corporation. It all started when you were signed up for a Social Security card. I pondered keeping my children from the contract with USA, Inc. However, I did not want to set their future. Living like Vern allows you to drive the highways without a license, hunt and fish without a license, and barter without paying taxes.
Living like Vern lets you and your wife live in fear of arrest and conviction, which is where tax protesters often wind up.
However, he does pay property tax as the tribute to the king!
There is no king. There is only the county government.
Vern and his anonymous promoter -- let's call him Ernest -- live in a fantasy world of kings and queens.
The only problem is that authorities will stop you and harass you every time they happen upon you outside of your home. They do not understand the fairly complex web of common law that gives one personal rights that trump the state's assumed, aggressive authority.
Do you want to live this way? Then become a tax patriot.
Once they review the federal case, they let him go. That lifestyle has a high PITA factor.
They did not let Irwin Schiff go. He died in prison.
He is somewhat of a fraud, or perhaps I am too much the purist, in that he trades a gold piece for USD from time to time to commence commerce in USD.
He is not a fraud. He is a fool. He lives on the fringes of society in poverty. Hardly anyone buys and sells in gold. He deals only with backwoods boys who do not have enough money to put in a bank. Or they may be outlaws. Good luck in dealing with them.
I say if you need to live separate from the corporation, setup your bartering chain, trading goods and services much like the eras before the Federal Reserve System began. If he desires to perform a transaction that requires an ID, he has to employ proxy corporate citizens to transact for him within the USD/USA Inc. world.
In short, live in poverty on the fringes of society.
Like I said, I knew of the private citizen lifestyle years ago. Living like Vern does not attract the babes. Imagine your car is towed on a date with a lady because you have no plate! Instead, you have a legal document of a private citizen. The dude that pulled you over will most likely think there is something wrong with you! Instead I exposed myself to our debt-based system in return for a lifestyle of relative ease. The only problem was that I knew I had to make choices that would guard me, as much as possible, from the banking thieves and their government and media accomplices. Vern is fully protected. Once you understand this place where you live, life requires decisions that the normal Joe would think are insane. For example, I have a 401k, savings, a TDAmerica account, and trade options, bank accounts, credit cards, a small corporation, and a job. I pay taxes, sell on eBay, and sell on several websites. I hide in plain sight. To the thief -- any government entity -- I appear normal. However, what they do not know and what most people cannot comprehend is that I decided to become my own central bank. I am one of the "one in a million" that understands this devilish scheme.I had decided to split earned currency into three structures -- 401k, land, and gold/silver. I surmised that when they pay SSN at the time of declared eligibility, the purchasing power would be dismal, near worthless. However, they would have fulfilled their legal obligation to pay that monthly stipend. There are some natural laws that cannot be violated. They know that very well. Why would I state that I expect to be paid in a near worthless monthly stipend?
Why, indeed?
It is obvious my purchasing power is plummeting. We've been hit with higher prices, same price lower quantities, and in some cases lower quality same price. I sense that I am being taken as a chump when I hear the government tell me that inflation is 1%-2% per year. They know quite well that the inflation rate, as calculated after the 1980s, does not reflect everyday life.
Yes, it does. This is why most people live a little better each year than they did last year. This has been going on since 1800.
The rest of the article is a series of extracts on how we are all getting poorer. Except we aren't.
In almost every area of our lives, technology is making us richer. Can you think of half a dozen areas of your day-to-day existence is not improving, other than where taxes or government regulations are involved? Yet our lives are made up of hundreds of areas. Think of all the items and brands and models in your life. Walk through a Walmart. Then walk through a Target.
This poor soul lives in a mental world that does not connect often with daily living.
Don't pay attention to such people. Learn to seal yourself off from them. Follow my six rules.
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