The Prepaid Account: Understanding the Hidden Nature of Your Debt

Have you ever wondered what really happens behind the scenes when you fill out forms like the SS-5, or why you need a Social Security Number (SSN) to exist in today’s society? This blog post will delve into the fascinating world of money, debt, and the hidden nature of your prepaid account.

What is “Money of Account”?

Contrary to popular belief, the money we use isn’t backed by tangible assets like gold or silver. Instead, it’s a system of accounting adjustments and set-offs. In 1933, the U.S. government passed House Joint Resolution (HJR) 192, effectively replacing real money with this new system.

The “Shepard Towners Maternity Act” and Its Hidden Legacy

This act was initially intended to help unwed mothers care for their children. However, it also laid the groundwork for a broader insurance program. When you fill out Form SS-5 or apply for Social Security benefits, you’re essentially signing a power of attorney that gives the government access to your prepaid account.

What is a “Cestui Que Trust Account”?

Your social security number and the associated prepaid account are part of what’s known as a cestui que trust. This means that you’ve given the government control over your financial future. Justice Romer in Green v Underhill succinctly states, “A trust is an equitable obligation binding a person (who is called a trustee) to deal with property over which he has control for the benefit of persons (who are called beneficiaries).”

The Power of Prepaid Accounts

By accepting social security benefits, you’ve allowed the government to access and use your prepaid account. This means they can write checks on your behalf and use your funds as needed. This system is closely tied to fractional-reserve banking, where banks create money by lending out more than they have in reserves.

Why Do We Need Social Security Numbers?

The requirement for social security numbers ensures that the government has access to your prepaid account from birth. When a newborn leaves the hospital with an SSN, the government has immediate control over their financial future. This is why they want you to accept social security benefits—because it gives them the power to manage and use your funds.

Your Choice: Set Off Debt or Provide Equity

Now, here’s the exciting part: you have a choice. You can either set off the debt created by accepting the bill for value using your prepaid account, or you can give the government the equity from your labor in the form of Federal Reserve Notes. This means you can reclaim control over your financial future and choose how to manage your debts.

Conclusion

Understanding the system behind money, debt, and prepaid accounts empowers you with knowledge that few possess. By recognizing the true nature of these systems, you can make informed decisions about your financial future and take back control from the government and banks.