By Anna Von Reitz
This is on the QT, faithful readers. This is something hidden from those who consider themselves wise and powerful, but unless some of them wake up, it is going to uproot their worldview.
People incorporate businesses for various reasons — purported tax advantages (churches and non-profits) and limited liability and bankruptcy protection (commercial corporations) are the typical reasons for incorporating.
Most businesses that incorporate see no benefit from incorporation, and they suffer many, many disadvantages, but they have been advised by legal professionals to incorporate—-and so they do.
For starters, they become subject to the rules and regulations of the parent corporations issuing their charters. This means that they have to pay for business “licenses” and meet periodic reporting requirements. They are obligated to obey all the various regulations imposed by statutory laws and codes. And they are also obligated to pay many forms of taxes— income taxes, regulatory taxes, property taxes, franchise taxes— that they otherwise wouldn’t have to pay. They also have to subject themselves to audits and investigations and lose their privacy protections. Most damaging of all, they become responsible for the debts of whatever entity issued their charter because they are franchises.
So, all those corporations that received charters from the UNITED STATES, INC.? And from the STATE OF MICHIGAN? And the COMMONWEALTH OF VIRGINIA?
Guess what? You are about to be “subsumed” into the bankruptcy of the UNITED STATES, INC. and subject to liquidation by international bankruptcy trustees. Why? Because the UNITED STATES, INC. insured your business and subrogated your corporation as a franchise. Oh, sure, they offered the “safety” of the so-called “corporate veil”, limited liability for actions or accidents, bankruptcy protection, yes—–but at a cost. That cost includes all the things noted above, plus this last kicker.
When the parent corporation that granted your charter goes, so do you.
Obviously, they can’t insure you or offer you limited liability anymore, and just as obviously, as a subrogated franchise, all that you think you own is in fact owned by them. That was the real price of incorporating your business, but nobody told you that, did they?
So the question naturally arises— OMG! How do I “unincorporate” my business?
It’s not as easy as you might assume. Incorporating is stupidly easy. Unincorporating is, as you might expect from my lead up—- a real B.
For non-profit organizations like Churches, you have to give all your property to another non-profit corporation and walk away from it. Otherwise you have to pay back large sums of money to redeem your assets — so much in fact, that it is like buying and paying for them all over again. This is because the parent organization that granted your charter and offered limited liability in exchange, owns your assets— which you gave them, voluntarily, by incorporating — and naturally, the charter granting organization wants to be paid back for their property, which you gave them as a gift— a free donation in exchange for the benefits of limited liability.
So the Grace Lutheran Church can turn over its assets to the local Friends of the Library organization, but can’t return it to the unencumbered use of the people who paid for the land and bricks and the buildings and all the rest of it. Why? Because they incorporated in order to avoid taxes that they never owed in the first place, and unwittingly donated their assets in exchange for a charter as a non-profit corporation.
Hey, the same fabulous deal was offered to the C-Corps and S -Corps, too, and they fell for it and thought they were smart.
Yeah, they could buy, sell, and trade stocks. Some of them could even issue bonds.
They could do awful things and get away with it without harming their shareholders and corporate officers’ private holdings.
But they are all just franchises of the organizations that offered them the carrot of limited liability, and when the UNITED STATES, INC. and its STATE OF STATE franchises dissolve as a result of bankruptcy liquidation? Guess what?
All those corporations that were so high and mighty, which lorded it over their employees and fought among themselves, that strode triumphantly across the pages of Forbes and strutted down Wall Street —- never knew what they gave up when they followed the advice of all their legal professionals and decided to incorporate their businesses.
In order to “un-incorporate” an S-Corp or C-Corp it is necessary to buy back all the shares that were issued at the current stock price.
Good luck with that, especially in view of the recent run up on Wall Street.
Given this information it may occur to you that all these corporations worldwide are in a world of hurt, because when the ax falls, so will they.
What they ought to be doing is making peace with their creditors, the actual American States and People, who are the Paramount Security Interest Holders and Priority Creditors of all these incorporated entities worldwide.
We are the only ones that can release them and allow them to “convert” back into unincorporated businesses. We are the only ones who can indemnify them, issue asset backed bonds, raise capital, pay off, set off or forgive their debts.
But they are still busy staring down their noses and thinking that if they ignore the looming crisis, it will just go away. They imagine that it doesn’t affect them. They think that we are just ignorant hicks who couldn’t possibly know what we are talking about—- and they are doing this now, when what they should be doing with hammer and tongs, is assisting us in the work we have taken on.
There should be corporate donations pouring in by the boatload, from every corner of the world.
Because if we fail, foreign bankruptcy trustees will be ordering the proud captains of industry around and selling off their trademarks, their patents, their copyrights, and everything else that these corporate moguls think they own.
The same fate will befall millions of hapless Americans who don’t even know that they have been “enfranchised” as “US citizens”. And Brits who don’t know that they are just berths belonging to the UNITED KINGDOM. Germans who don’t know that they are chattel franchises backing Angela Merkel’s GERMANY, and Frenchmen who can’t imagine that voting in what appear to be public elections enslaves them as franchises of FRANCE. And they are all bankrupt.
Unless we prevail. Unless our lowly unincorporated land jurisdiction government seizes control of this situation, it’s all down the tubes.
So, Warren Buffet, where’s your money now? Paris Hilton? Oprah? Kim K.? All you Hollywood pundits? CNN? All you Wall Streeters? Anyone care to say a word?
See this article and over 700 others on Anna’s website here:www.annavonreitz.com
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