Public Debt Part I - It Isn’t Just a Clock

In this three-part article we explore how public debt is created through the issuance of bonds, examine how this public debt machine perpetuates the system of bondage often referred to as The Matrix.

You will explore actionable steps you can take to remove the shackles of these bonds and move toward Freedom Absolute. Have you ever looked at the U.S. National Debt clock with all those numbers and asked yourself, “what does all this mean?” Many of us have, and many do not have a clue what it means. So let’s take a deeper look at the so-called “debt clock” and see what we can see, deeper in.

According to usdebtclock.org,:

“(t)he National Public Debt Outstanding represents the face amount or principal amount of marketable and non-marketable securities outstanding.”

According to Black’s Law Dictionary, Sixth Edition, “securities” are stocks, bonds, notes or other documents that represent a debt owed by a company or government entity and “marketable” means something that is salable. The national debt is defined as:

“The money owing by government to some of the public or to financial institutions, consisting of such obligations as Treasury Bills, notes and bonds, the interest of which is paid out of the taxes raised by the whole of the public”

Let’s take that statement deeper. With respect to a “security” that is in the form of a document, usually referred to as an “instrument” in commercial terms (Uniform Commercial Code language), any such security, by UCC definition and construction, has three elements to it. These are 1) The secured party; 2) The debtor; 3) The collateral that secures the secured party’s interests against the debtor should the debtor default.

This then opens the questions: Who is the Secured Party? Who is the Debtor? Who or what is the Collateral to the debt? We shall hold the answers to these questions and address them during the course of and at the end of this article.

Treasury bills are short term (debt) obligations of the federal government according to Black’s Law Dictionary, sixth edition. Treasury Bonds are longer terms obligations of the United States Treasury. But who is the recipient (or in commercial terms the “holder in due course”) of such debt obligations? That would be the Federal Reserve Banking System (‘FED”). And why or how does the FED become such a holder of all that debt? Because they have been set up and authorized pursuant to the Federal Reserve Act of 1913 to issue the circulating medium of currency (Federal Reserve Notes, FRNs) to become the acceptance legal tender currency of the domestic system. They use those FRNs, which are also debt instruments as evidenced by the word “Note” in the name, to purchase the Treasury Bills and Bonds. They then either sell such bonds on the bond market through Wall Street, or they retain them as reserves.

Okay, so that establishes who the Secured Party and Debtor is, which is really a two-way street. When the FED issues FRNs it is the Debtor on those notes. When the Treasury issues its bills and bonds, it is the Debtor. And who is the Secured Party to the FRNs? That would be the creditor in the schematic of the bankruptcy of the United States pursuant to acts taken in March of 1933, the “Real Parties in Interest” as the owners of the FED. The Secured Party for the Treasury debt instruments is the FED pursuant to it being the creditor in the bankruptcy of the United States. So, the ultimate creditors are the owners of the FED. And the collateral? With respect to the Treasury debt instruments, the collateral consists of the PERSONS and PROPERTY of the citizens of the UNITED STATES, all of us.

In effect, the circulating medium that we refer to as “money” are nothing more than commercially secured debt obligations that ultimately attach to our lives, our bodies, our homes, our families, and all property in the country. So let’s imagine the National Public Debt as a giant pile of IOUs that the government has given out to people, businesses, and other countries to use to buy and sell and trade within its commercial sandbox. If you want to play in its sandbox, you have to use its toys and follow its rules. The government, through its Treasury Department, issues its debt that is backed by the PERSONS, PROPERTY, and most importantly, the FUTURE CAPACITY OF THE POPULATION TO CREATE REAL VALUE. Our use of the money (FRNs) effectively is our tacit and implicit agreement to be bound by all the rules and to stand as pledged collateral to the Secured Party in the equation.

But wait, you might ask: “So what about the debt instruments, in the form of Notes (Promises to Pay, or Promissory Notes), how does that get settled in favor of the Secured Party? Well, first of all, the FRN notes are settled by offset and retirement. What does that mean? It means that part of the “rules of the game” – the rules of the “sandbox” within which we have agreed to play and bind ourselves as the collateral pledge to the government obligations – part of the rules are that we have to abide by such things as Inflation, Interest, and Taxation. Those are part of the rules of the game. The game inside their sandbox, with their toys.

So by effect of inflation, interest, and taxation, the obligations of the FRNs are effectively offset and retired, so that the FED never has to pay for its obligations, but conversely, the accruing interest on the national debt and all sorts of other methods of equity harvesting, through taxation and inflation, the Real Parties in Interest (the owners of the FED) are continually reaping the harvest of our value creation, building massive unpayable and unsustainable debt, so that in the end they could foreclose on the collateral and seize the PERSONS and PROPERTY as liquidated damages for the default on the debt owed to them vis-à-vis Treasury Bills and Bonds. In short, these IOUs are promises to pay back money that the government borrowed.

These IOUs are documents which take the form of bonds. A bond is evidence of a debt. We are the responsible parties to service and pay back that debt. Nice work if you can get it!

History Law and Money

First, we must define these terms because they are all interrelated and provide keys to unlock the public debt mechanism. Kenneth Scott, on page 16 of the treatise “An Overview of The World System of Bondage” defines history, law, and money:

“History is a progressive storyline undertaken to establish a globalized system of “law,”

in order to therefrom derive a system called “money,” for the singular purpose of establishing an artificial reality construct of ownership so the people thus owned and controlled

are maintained in a perpetual system of cultivation and harvesting,

with another system called religion so that the people would voluntarily bind

themselves into their own self-created bondage and enslavement system”.

We are trained to look at history like episodes on a reality television series. We don’t usually see how one historical event connects to the next. As Kenneth Scott mentions, “History is a progressive storyline.” So when we learn to connect the dots, history gives us the patterns of the past so that we may navigate the present. History, law and money are used to create the perpetual debt enslavement system, a.k.a. the Public Debt System and make all of the numbers magically appear on the screen shown above. That is the Babylon Money Magic system. Black Magic. Sleight of Hand. History repeats itself. Think of it as a map. You will, however, need to decode the map. This knowledge is your decoder ring so that you can develop “eyes to see” to read the map and navigate the traps on your journey to Freedom Absolute.

As we discussed in a previous article, contracts are agreements formed when two or more free will beings agree to exchange something of mutual value.^[1] Contracts create the law and establish jurisdiction. Jurisdiction also implies an oath of fealty, this oath is to the Crown.^[2] Such oath is established in the United States by the continual “Pledge of Allegiance” that school children repeat every day while in the government indoctrination system. It starts with “I pledge allegiance to the FLAG…” within revealing that that flag is the flag of the British East Indies Company. That is an Oath of Fealty to the Crown and City of London.

Money is a documentary representation as a measure of value. Something must stand behind “money” that is holding the value that is represented by each unit of measure (dollars, euros, pounds, etc.) In this case, the unit of value is the continuing labor and value creation of the population that is bound by the above-described pledges of collateral backing to the secured party. The Babylon Money Magic system is a sleight of hand act of a black magician conglomerate made up of all the legal, monetary, financial, political, secret societies, and religious parties that have colluded to create this system.

And it indeed goes back to the days of Babylon’s glory and has never changed for the last 2,500 years. Nations, states, and all government entities use the power of contracts and the ancient system of pledging to create bonded instruments of circulation, attached to the above described collateral, as circulating currency (a false illusion of real money), which we have all agreed to accept in lieu of real substance in exchange for our time, labor, intellectual creations, and our energy and life force.[3] And the use of such government issued benefits and privilege repeats our ongoing acceptance of the offer to contract that we enter into and reaffirm every day of our lives. And of course, this whole domestic system within the United States is transferred to all bankrupt nation states that have the same set up with their Central Banks of Issue, that bind their people, PERSONS, and PROPERTY for the privilege of using said FRNs as the universal reserve currency throughout the world pursuant to the Bretton Woods Agreements of the 1940s. The current global system uses Babylon Money Magic for the purpose of binding the world population and extracting their life force.

To be clear here, the value of money is not in the paper itself. The paper is only evidence of a bonded (secured) collateral attachment to something of real value. The value lies in the time, energy, and creative capacity one puts into acquiring it. In terms of labor, we are paid “wages” and what does that mean. It is the root of the word “wager” and we are betting our life force, time, and energy into the proposition that at some future date we might actually receive real consideration for what we exchanged to acquire those debt instruments. This means that our life force is the true value. That value is the creative output of those who actually create real substance, not those who bind it parasitically by this process. For example, a $5,000 watch usually holds more meaning for someone who worked and saved for three years to buy it than for someone who didn’t have to work as hard to acquire the same $5,000. This is because the man or woman who had to save for three years to purchase the watch had to expend more of their time and energy to acquire the watch. The time and energy is the true cost of the watch. This point can't be emphasized enough because within the perpetual debt system, capturing the living being into the machine to create the money is the most important thing for the control Matrix of the world.

Unam Sanctum and the Triple Crown

Unam Sanctum was a Papal Bull promulgated by Pope Boniface VIII in 1302. A papal bull is an official decree issued by the Pope, and Unam Sanctum, along with succeeding Papal Bulls over the next three hundred years, declared the Pope's supreme authority over both spiritual and temporal matters. The document also established a testamentary trust, which has been used to establish, manage and control the underlying global estate.^[4] This document is a foundational element in innerstanding and understanding the current public debt system and the mechanisms of bondage. Within it there are several key claims, the one most relevant to our discussion here is that it claimed ownership of all land, all flesh, and all souls.

The "triple crown" or “Tri-Regnum” refers to three sovereign city-states: Vatican City, the City of London, and Washington, D.C. These three entities are independent, yet still part of the corporate structure, and hold unique powers respectively; spiritual (Vatican City), financial (City of London), and military (Washington, D.C.).

We The People

Live birth records are registered with the STATE, creating an entry into a system of Vital Records. The Birth Certificate is a bond issued against the underlying value held within the Record of Vital Statistics that was created when our Live Birth was registered and given over to the STATE, as the holder for the Real Party in Interest in this system, the Vatican and City of London. In this process the mother is characterized as the "informant," putting her newborn into various forms in the public domain. As the newborn grows into adulthood, they must place data into government issued forms to obtain desired life necessities and experiences. That is part of the rules for playing in their sandbox with their toys so that we can “live” and “play” throughout our lives.

This registration creates a grantor trust, splitting the title and attaching the baby to the trust as an indentured servant. ^[5] This creates a public persona, and all actions taken in the public are structured to maintain this public persona as a "debtor facility.” A debtor facility refers to the entity by which debt is created and for which debt service must be performed. A person according to Websters American Dictionary is defined as a “persona” a compound of “per” meaning by or through, and “sonus” meaning sound; it is also a Latin word for the mask used by actors on a stage.^[6]

The State then becomes the Holder of the Office of Executor of the underlying estate, which by the act of the Informant, has been abandoned. Through that first act, thereafter the matrix system acts as extensions of the Office of Executor to manage and administer the estate. The Record of Live Birth is converted into a statistical entry into the system of Vital Records and Human Resources, and the decedent estate (United States franchise or NAME) is used to facilitate the creation of public funds.

Each documentary instrument becomes an expressed trust that creates public funds in the form of monetized debt. Each time a document is created with the name of the person, the document becomes a negotiable instrument. All such instruments issued in the name of the person are done as monetized debt. Our future value is monetized via the public persona, known in legal terms as a PERSON, in which all public commercial paper and negotiable instruments are created, monetized as debt, and then circulated in the public as currency.

Once the original PERSON is created, every instance of issuance of documentary drafts (medical certificates, utility bills, tax bills, court orders, traffic citations, rent agreements, mortgages) become publicly circulating commercial paper that functions as currency. This process is governed by the Uniform Commercial Code (UCC).^[7] Which leads us back to the fundamental triangle, the “Holy Trinity” in commerce, the system that binds us and separates us from Life, the triune relationship between the Secured Party, the Debtor, and the Collateral. The UCC is just a modern restatement of the ancient Roman system of Lex Mercatoria, or the Law Merchant.[8] The UCC is the place to secure, by public notice, the business of Merchants, Mariners, and their Property. We are all lost at sea, acting in the role of “merchant” trading in commercial paper every day of our lives, but bereft of real ownership of property as that stays in the hands of the Mariners with secured collateral attachment to all the value we ever create in our lives for their benefit, and not ours. We are their property in this game of smoke and mirrors, Babylon Money Magic. We have limited beneficial use, but we are never the True Beneficiaries of the True Owners, concepts that will also be explored in future articles.

The next time you look at that public debt clock you won’t just see numbers, you will begin to innerstand what those numbers truly mean.

You can watch our animated version of Part 1 of the “An Overview of the World System of Bondage” or read the full version here https://gem.university/owsb/

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^[1] A detailed discussion of Contracts can be found in this article: https://freedomabsolute.substack.com/p/are-you-really-free

^[2] During the feudal era, society was structured around land ownership and hierarchical loyalty. The landed gentry, such as counts, barons, and earls, were regional rulers who controlled specific territories. These territories were granted to them by the sovereign (a king) who held ultimate title of ownership of the land.

To formalize this relationship, the lords would swear an "oath of fealty" to the king. This oath was a binding agreement that established both loyalty and jurisdiction. The king retained sovereignty over the land, while the lords governed their respective territories as landlords under the crown’s authority, documented by and through what are called Letters Patent. These oaths obligated the lords to have loyalty and obedience to the Crown and required the lords to protect the interests of the Crown, amongst many other obligations.

At the same time, the common people, or serfs, worked the land but did not own it. Over time, many serfs were displaced from the land, becoming landless peasants. In this system, lawful rights are tied to land ownership, so those without land have no lawful standing. Without standing, one can’t state or stake a claim in True Law or have access to True Equity. The courses within PTV and on Gem.University will assist one to learn how to correct their status and thereby have standing on land as one who is solvent and not a bankrupt.

[3] Pledging in ancient law systems was a way to ensure that a debt was repaid. The debtor, which is all of us in the current system, would offer something of value (property, goods and even their life force through indentured servitude) as collateral. If the debt wasn’t repaid by a certain date the creditor could seize the pledged item. So in the public debt machine we all owe our souls to the company store. https://en.wikipedia.org/wiki/Pledge_(law)

^[4] Definition of a testamentary trust: https://legal-dictionary.thefreedictionary.com/testamentary+trust

^[5] A trust establishes a type of contract between the Grantor and Trustee. The terms of the contract are contained in the trust document, which is an indenture. The indenture binds the Trustee(s) to perform as required by the wishes of the Grantor, and does so for the benefit of the beneficiaries. The split title places legal title in the Trustee(s) and Equitable title in the Beneficiary or Beneficiaries. The concept of indenture and the grantor trust was introduced in How Have We Become Indentured Slaves of the Debt System. We will also explore this in more detail in future articles.

^[6] We must see the part we play to maintain this system, for it is only then that we can develop the Will, Purpose, and Intent to remove the shackles of bondage, exit the stage and obtain Freedom Absolute.

^[7] The "persona" refers to the United States PERSON, a franchise granted to the living being that provides license to operate in commerce within the domestic zone of the municipal corporation acting as a de facto government. This corporation functions in commerce, not law, and is not a lawful government, as per the Clearfield Doctrine. See https://en.wikipedia.org/wiki/Clearfield_Trust_Co._v._United_States for a detailed explanation of the Clearfield Doctrine.

[8] https://en.wikipedia.org/wiki/Lex_mercatoria

NOTE: Recently posted as a second part to this article about Public vs Private, is the FA Study Point - Foundations of Status. Click here for this new information.