Time: Wed Oct 15 17:03:37 1997
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Date: Wed, 15 Oct 1997 16:59:03 -0700
To: libnw@circuit.com
From: Paul Andrew Mitchell [address in tool bar]
Subject: SLS: Is $20 trillion the true federal debt?
A proper accounting will probably never be done,
because Social Security receipts were deposited
in the General Fund, whereupon they were loaned
out to various federal government agencies, which
put "IOU's" in their place. The government bean
counters have had the temerity to call these IOU's
"assets," but nothing could be further from the truth.
These are liabilities, and when they are properly
accounted for, the federal debt is, indeed,
closer to $20 trillion (twenty million millions,
2 x 10^12). And Social Security "CON-tribut-ions"
are a "tax"; it says so right in the law.
The nexus between debt creation, and printing
of FRN's, MUST also be broken, as soon as possible.
Right now, FRB buys U.S. bonds for 3 cents on the
dollar, and then obtains a lien on collateral,
equal to the face value of these bonds, PLUS INTEREST!
This fraud must stop immediately also.
I propose that we do so by issuing a 3-year recall
of all FRN's, to be exchanged for U.S. Notes,
one-for-one (no ID checks, like bearer bonds).
It is essential that U.S. Notes MUST be issued
WITHOUT any increases in the federal debt.
What Congress is not telling you is that the
IRS is "needed" to prevent hyper-inflation
of their bogus FRN's:
two pumps, working in tandem!
The FRB injects FRN's into the economy,
and IRS sucks ... FRN's out of the economy.
This is the main reason why Congress is
holding onto the IRS for dear life:
Congress refuses to deal with the simple
mechanics of money creation.
They are cowards.
Here is what must happen:
1. withholding from paychecks stops at once;
2. Silver Bonds are issued to absorb excess earnings;
3. U.S. Mint begins rapid production of U.S. Notes;
4. A nationwide recall of FRN's is announced;
5. All bond sales to FRB must be payable in FRN's;
6. All connections between FRN printing, and
increases in the federal debt, are severed;
7. Federal income taxes are prohibited, as
Public Salary Tax Act is repealed;
8. Inevitably, the United States is forced into
involuntary bankruptcy, by the People of the USA,
ex rel. Paul Andrew Mitchell (private AG), or other;
9. U.S. Bankruptcy Court will liquidate U.S. debt
owed to all Federal Reserve Banks, because FRB
cannot perfect Proof of Claim;
10. Congress will legislate a solution to all other
public debt, after extensive hearings involving
representatives of many nations and all 50 states.
/s/ Paul Mitchell
http://supremelaw.com
copy: Supreme Law School
At 12:29 PM 10/15/97 -0700, you wrote:
>
>Hi Dave -- Just clearing out old emails I hadn't read yet -- and in this
>one you said you knew the nation's debt was in excess of $20 billions --
>nope, Dave, it's twenty TRILLIONS plus gov't debt of $4.5 trillions
>makes it more like $24 trillions as of 11-14-92. Big humongous
>difference!
>
>And your imaginary/fun scenario of what our public "servants" do for
>their $65 an hour -- I had it from my congressman in the PAGES and PAGES
>of minutes debating JUST their pay raises! Incredible amount of time
>spent just discussing their incredible increases! There it was pages
>and pages when what I'd actually requested was only the last ten years
>of actual pay raises -- when first it was an $18 thou additional -- at a
>time when many citizens weren't making $18 thou total and then on top of
>that another $35 thou so they're now paying themselves $133,600 plus
>that latest COLA of $3,000 -- but you guys call me "Chicken Little" and
>that the sky is falling. Nope, just heard a radio program about water
>quality and how a community in Midwest had 400,000 -- yup 400 thou, get
>sick on their water, but you'd consider that "Chicken Little" stuff.
>Facts you don't like -- so you ridicule. Too bad / too sad. JQS
>
>
>
>
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===========================================================================
Paul Andrew Mitchell, Sui Juris : Counselor at Law, federal witness 01
B.A.: Political Science, UCLA; M.S.: Public Administration, U.C.Irvine 02
tel: (520) 320-1514: machine; fax: (520) 320-1256: 24-hour/day-night 03
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_____________________________________: Law is authority in written words 09
As agents of the Most High, we came here to establish justice. We shall 10
not leave, until our mission is accomplished and justice reigns eternal. 11
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