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Understanding How Screwed We All Are "The Greatest Depression" – by Ernest Hancock (Part 2

Written by Subject: Economy - International
LONDON, Dec 07, 2011 (BUSINESS WIRE) -- The Depository Trust & Clearing Corporation (DTCC) today announced the launch of its global, over-the-counter (OTC) interest rates derivatives trade repository.
Publisher: FreedomsPhoenix started focusing on this in July of 2008

Understanding How Screwed We All Are "The Greatest Depression" – by Ernest Hancock

"I am of the opinion that we have all been the victims of the largest robbery in Human history. Computer technology allowed for the creation of electronic counterfeiting that allowed for the nearly unlimited pillaging of every form of financial instrument used in America and in much of the world. Pensions, Retirement funds, 401Ks, Money Market Funds (Government or Municipal) and the relatively new financial instrument called Derivatives,... and it's all gone. It’s not an “if” thing,… it is an “already happened” thing.
Now the Banking system will do its best to “control” the news, and who gets the blame, by leading the investigation of the crime that they were very much involved in and profited from.
Things are going to get much worse than I ever feared." (More information below Embedded Video)

(Note: to those more educated in the economic systems around the planet it must be obvious how little I understand it. But this produces many of the best questions. I knew that the goal of 'Those that just won't leave us alone' has always been, "How do we make everybody else's money OUR MONEY?"
Well, I think the 'Great Book Balancing' is about to happen and this post may help some of us 'laymen' know more about where to even start looking for the Who/When/How of things)

In January of 2010
Alex Jones hosted a YouTubed show with Webster Tarpley that summarized most of what we had been covering on FreedomsPhoenix.
(at 7 minutes into Part 3 of 4, Webster calls for an Occupation of Wall Street :)
Publisher: The DTCC has been working behind the scenes for at least 3 years since we first started to ask questions about how the QUADRILLION+ Dollars in Derivatives were going to be reconciled, who would be the victims and who the victors.
From my article of questions and links quickly put together, and sometimes added to, I could see what was coming.... well NOW IT IS HERE!
(the following is an excerpt from the July 2008 article)
The Depository Trust Company (DTC) is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the Securities and Exchange Commission. The depository brings efficiency to the securities industry by retaining custody of some 2 million securities issues, effectively “dematerializing” most of them so that they exist only as electronic files rather than as countless pieces of paper. The depository also provides the services necessary for the maintenance of the securities it has in custody.
DTCC's Board of Directors
DTCC's Board is made up of 18 directors. Fourteen are from participants, including international broker/dealers, correspondent and clearing banks, mutual fund companies and investment banks. Two directors are designated by DTCC's preferred shareholders: NASD and the New York Stock Exchange. The remaining two are the chairman and the president and chief executive officer of DTCC itself.
DTCC operates its clearing, settlement, distribution and information-based businesses through several operating subsidiaries. Each serves a specific segment and risk profile within the securities industry.

Depository Trust Company (DTC) A central securities certificate depository (also known as "CEDE" by virtue of its nominee name, CEDE & Co.) through which members effect security deliveries among each other via computerized bookkeeping entries, thereby reducing the physical movement of stock certificates. “
Depository trust company - a central securities certificate depository.
Members of the depository deliver securities between each other via computerized bookkeeping entries.
This reduces the physical movement of all the stock Certificates.”
Depository Trust Company (DTC): A central securities certificate repository that is a member of the Federal Reserve System and is industry-owned. The New York Stock Exchange is the majority owner. DTC members deliver securities to each other via computerized debit and credit entries. This reduces the need to actually move paper certificates.
New Automated Interface between the Federal Reserve System and the Depository Trust and Clearing Corporation
To: Chief Financial Officer

Subject: New Automated Interface between the Federal Reserve
System and the Depository Trust and Clearing Corporation
The Federal Reserve System (“FRS”) and The Depository Trust Company (“DTC”) are pleased to announce that a new automated interface has been established between the organizations that will significantly improve the process of pledging and withdrawing securities to and from various collateral accounts maintained by the FRS and the U.S. Treasury. Effective immediately, DTC-eligible securities pledged to the FRS or the U.S. Treasury will be processed via this automated interface.
The automated interface will allow deposits and withdrawals of DTC-eligible securities to flow directly into the FRS's collateral system. As a result, the process for moving DTC-eligible securities in and out of the FRS's and U.S Treasury's collateral accounts will become much more efficient and the following benefits will be realized:

Assessment of Compliance with the
CPSS/IOSCO Recommendations for Securities Settlement Systems
The Federal Reserve System Guide to Discount Window Collateral
(See the pattern?)

1 Comments in Response to

Comment by Larry Stuler
Entered on:



            The federal government has absolutely no jurisdiction over a sovereign American as the Constitution only grants the government jurisdiction over foreign commerce, interstate commerce, and trade with the Indians.  This is because the Constitution is subordinate to the Declaration of Independence which states clearly that “all men are created equal” (and, of course, women).  The United States Code (U.S.C.) lists the organic legal documents of America in the following order:  “The Declaration of Independence”, “The Articles of Confederation”, “The Northwest Ordinance”, and “The Constitution”.  All statutes (laws) within the U.S.C. must, therefore, conform to the jurisdiction of the Constitution.  Intrastate commerce is simply human action – all Americans are equal with no one having any power over anyone else.

            Of course your first response to the above statement is that you must do whatever the I.R.S., the A.T.F., the S.E.C., the F.D.A., the E.P.A., the F.C.C., the F.T.C., etc. tell you to do or face criminal charges. 

            There can be no federal regulation that applies to a sovereign American as the federal government has no jurisdiction over intrastate commerce (human action), so there must be something else going on since all statutes (laws) must derive their authority from the Constitution.

            Here’s what’s going on:  Great Britain never gave up in its attempt to lay its taxes from the mid-1700’s, the Stamp Act and the Townshend Acts, on the colonies.  Even though Great Britain lost the American Revolution it still considers America its subject.  Knowing that the Constitution does not and cannot grant the federal government any jurisdiction over intrastate commerce, it sent in its bankers to slowly and deceitfully take over America through the foreign commerce clause.  Even today, the banking center of the world is located in London, known as the “Crown”. 

            Rather than go into all the detail here, I will list the Posts from my Blog, “The Social Security Scam”, with a slight description of the information to be found at each link.  Or you can immediately go to to see the “Bankers’ Blueprint to Destroy American Sovereignty” as this link to the “Bankers’ Blueprint” will also tie into all of the following links.


            The A.T.F. is based upon an unconstitutional Act of Congress approved on March 3, 1791, written by the bankers’ lead man, Alexander Hamilton – the tax on stills and the stills’ distillate which caused the “Whiskey Rebellion”.  This Act initiated “internal duties” in America.  The A.T.F. taxes were all originally paid by stamp just as the Stamp Act and the Townshend Acts did in the mid-1700’s.  It was very important to the bankers’ plan to pass this Act of Congress very early in this country’s history.  To hide the fact that this was an unconstitutional Act, the collectors of these new taxes were to be those already empowered to collect the previously laid taxes – the Customs.  The Congress under the Constitution first convened on March 4, 1789, so the Act that established “internal duties” was passed only 2 years after the birth of this government.  The gist of this is that the A.T.F. is within the Customs.  Go to for more information on the “Whiskey Rebellion”.

            The income tax was approved in an Act of Congress (August 5, 1861) concerning importing (foreign commerce) as a tax on the collectors of the “internal duties”.  Obviously, if the collectors of the “internal duties” are within the Customs, the income tax collectors must also be within the Customs.  Customs is foreign commerce.  The I.R.S. is also within the Customs.  Go to to see the jurisdiction of the internal revenue laws.  Go to to see the Act of Congress that created the income tax.

            What about the Supreme Court decisions concerning the 16th Amendment (the income tax amendment) that held that the federal government always had the power to lay an income tax?  These decisions all held that no new jurisdiction was granted to the federal government.  Since the Declaration of Independence is the organic law of the land stating that “all men are created equal”, the Constitution cannot grant the federal government any jurisdiction over intrastate commerce (human action).  Therefore, since the government was granted no new jurisdiction and, as well, since the Court held that the government always had the power to impose an income tax, that tax must be within one of the already existing federal government jurisdictions – it’s foreign commerce.  Go to to see a breakdown of all the Supreme Court decisions concerning the income tax and the 16th Amendment. 

            During the Reconstruction Period following the Civil War, the 14th Amendment to the Constitution was ratified under the propaganda that it would create equality among the various races.  The real reason was to create the foundation for moving into the jurisdiction of foreign commerce.  What was created by the 14th Amendment is now known as the “ U.S. citizen” (or the 14th Amendment citizen).  A “ U.S. citizen” is defined as a person born in one of the States who then acquires U.S. possession citizenship.  Now since the U.S. possessions are under total control of the federal government, a U.S. possession citizen is under the government’s jurisdiction and control.  Now what person would give away sovereignty by acquiring U.S. possession citizenship?  No one would, of course, but that is what the birth certificate is all about in today’s world – you claim to be a “ U.S. citizen”.    

            The 16th Amendment was ratified on February 3, 1913.  Later that year the Federal Reserve Act was approved.  The book “The Creature from Jekyll Island” exposes the creation of the Fed, however, without the groundwork laid as exposed above, the Fed could not simply take over the federal government and control Americans.  Why?  Because as stated above, the federal government has absolutely no jurisdiction over intrastate commerce – no jurisdiction over sovereign Americans. 

            The Fed bankrupted the federal government in 1933.  The Code of Federal Regulations (C.F.R.) was written in the mid-1930’ to evidence the underlying jurisdiction of the statutes (laws) of the United States Code (U.S.C.).  Title 11 U.S.C., “Bankruptcy”, is implemented by title 11 C.F.R., “Federal Elections”.  This evidences the government’s bankruptcy – we are only electing a bankruptcy “administration”.

            The Fed caused the great stock market crash of 1929 and the Great Depression that followed in the 1930’s.  It then used the media’s propaganda that the federal government would never allow this kind of devastation to happen again by creating Social Security.  But as stated many times, the federal government has no jurisdiction over sovereign Americans as it does not have and cannot have any intrastate jurisdiction.  So F.I.C.A. was created, but it is a U.S. possession tax.  This ties back to the “ U.S. citizen” (14th Amendment).  A “ U.S. citizen” may apply for F.I.C.A. since a “ U.S. citizen” has unknowingly acquired U.S. possession citizenship.

            The Form SS-5 that one uses to apply for a S.S.# is actually a federal employment form.  By applying for a S.S.# one becomes a “taxpayer”.  A “taxpayer” is defined in the code (26 CFR 2.1-1(a)(5)) as a member of the Merchant Marine.  Think about it - only federal employees are liable for federal employment taxes.           

            In 1939 the Internal Revenue Code was written – it incorporates all the original internal revenue laws (based upon the unconstitutional Act of Congress that Alexander Hamilton authored in 1791), the Social Security laws, and the Merchant Marine Act of 1936.  Within the Internal Revenue Code the U.S. possessions are treated as foreign countries.  This now makes the “ U.S. citizen” a foreigner as well.

            The combination of the terms “taxpayer” and “ U.S. citizen” is known as a “ U.S. resident” – the total slave of the international bankers (counterfeiters).  Go to for the statutes and regulations that define all the legal terms.

            This completes the subjugation of the once sovereign American.  On the Form SS-5 one checks the box labeled “ U.S. citizen” – the other categories have to do with aliens, thus, it concerns foreign commerce.

            Great Britain’s bankers have successfully taken over America through subterfuge and the use of legal “terms” that derive their jurisdiction from the foreign commerce clause of the Constitution.  Just as in the War of 1812, Great Britain is now impressing Americans, as the Merchant Marine, into service for its own ends.  Go to for the “Social Security Scam”.


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