The real truth – We own nothing
Because we only have fiat money, we can only discharge our debts, not extinguish them. A monetary note is only a promise to pay, not a means of payment, in fact nothing more than an IOU. If we had intrinsic money, backed by gold or silver, or we actually paid in gold or silver (gold = ~£750/ounce, silver = ~ £12/ounce) then we could extinguish our debts – we can’t use gold and silver legally, as it’s not considered legal tender.
Therefore, because the money we use is merely a promise to pay (at some unspecified future date), when we “purchase” or “buy” something, we pay with a debt (fiat money) and remain as debtors, to the Central Banks, and hence the global elite who are the creditors. Whenever a debt remains unpaid, or discharged, then a hypothecated lien remains on that unpaid debt. So even when we think we have paid a debt, we haven’t, because the bank notes we used have no intrinsic value, and we stay in debt, via the hypothecated lien, in perpetuity.
The worthless IOU we pass on to someone else, and then put that person further into debt when they use or spend it. To be a debtor is a crime (it’s a form of theft), there used to be debtors prisons in the past, if they existed now, everyone would be locked up. The situation we have now is that we are in a prison with no bars, we believe ourselves free, but we are not, our debtor status reduces us to the status of chattel, or debt slaves. Our labour, or sweat equity is taken from us, in return we are “paid” in worthless IOU’s which only serve to increase our indebtedness. Until such a time that we return to the gold standard, or issue currency with intrinsic value, or use gold or silver as currency, we will continue to be debtors, enslaved via hypothecated liens.
In the UK we each owe around £23,000 towards the National Debt, we can’t just write a cheque to that value and clear it, we would still owe that amount, maybe less a fraction of a pence less. The national debt would still be shared equally amongst all citizens.
Hypothecation is usually seen in relation to bills of lading, whereby the bill of lading is endorsed by the secured party, who, unless the security is redeemed, can claim the property by delivery of the bill. So this is admiralty law due to bill of lading.