Time: Fri Apr 04 17:05:05 1997
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Date: Fri, 04 Apr 1997 16:57:14 -0800
To: liberty-and-justice@pobox.com
From: Paul Andrew Mitchell [address in tool bar]
Subject: Query on Federal funding ...
Cc: Patricia Neill <pnpj@db1.cc.rochester.edu>

What we learned from the late Howard Freeman
was that the Union States underwrote the
secret federal bankruptcy of 1933, and 
thereby agreed to become agents for collection
of interest on the permanent federal debt which
was instituted at that time.  I can share his
writings with you, if you wish.  By doing this,
the Union States became "accommodation parties" [sic]
which is a legal term meaning that they became
real parties of interest in the bankruptcy,
by accommodating it, rather than opposing it.

I take this to mean that the money collected by
the corporate States of the Union is now flowing
into foreign banks, and not into the U.S. Treasury.

Another term for this permanent federal debt
is "rolling rehypothecation".  Confer at 
"hypothecate" and "rehypothecation"
in Black's Law Dictionary, to wit:

  "Hypothecate.  To pledge property as security
   or collateral for a debt.  Generally, there
   is no physical transfer of the pledged property
   to the lender, nor is the lender given title to
   the property;  though he has the right to sell
   the pledged property upon default."

  "Rehypothecation.  To pledge to another or to 
   transfer to another a note, goods, or other 
   collateral which have been already pledged;
   e.g. a broker may pledge securities pledged to
   him by a customer (under e.g. a margin account)
   to finance his borrowings from a bank."

Begin by reading "The Two United States and
the Law" in the Supreme Law Library at the URL below.

I hope this helps.

/s/ Paul Mitchell
http://www.supremelaw.com




At 03:02 PM 4/4/97 -0500, you wrote:
>Does anyone know if States send money to the Feds? Do States pay taxes or
>other monies to the Fed govt? 
>
>Thanks--any info or places to look this up are appreciated.
>
>Patty Neill
>
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