How to Fill Out the 1099-A / 1099-OID
Buy a house, a car, even discharge monthly expenses using form 1099-A.
You may recall from the U.S. bankruptcy article that shortly after Frank D. Roosevelt was inaugurated, he called a special session of Congress. He asked Congress to pass emergency banking legislation. On, March 9, 1933, Congress passed the emergency measure that FDR requested declaring a banking holiday. The fundamental nature of the banking systems was changed in this legislation. As a result of the legislation, all banks had to become members of the Federal Reserve system. This act further made the Federal Reserve Note the only paper currency valid in the US. The Federal Reserve Notes (FRN) were no longer going to be backed by gold but only by the credit of the people and their property. A quote from the Congressional Record that occurred during the debate on the bill demonstrates this fact. "The money will be worth 100 cents on the dollar because it is backed by the credit of the Nation. It will represent a mortgage on all the homes and other property of all the people in the Nation." [Congressional Record, March 9, 1933, emphasis added]
As a result of HJR 192, the people can no longer pay their debts. They have nothing of value to give in exchange for the goods and services they need. According to HJR 192, we can only discharge our debts. This was a huge change in our society. But very few people realized what had occurred. As you are well aware by now, lawful money no longer exists in our economic system. This was replaced by FEDERAL RESERVE “Notes” which are, in effect, promissory notes. This procedure to allow offset of debt is the proper legal remedy that has been provided for us to discharge debt, since the money was removed by the U. S. Corporate Government.
It had nothing to do with the alphabet. When you learn the correct ABC’s, you will see that you will now be operating with real “asset” money of lawful exchange on Level 2 of the game board. The bankers will hate you but they have been the bad guys all along with their hidden banker’s tax called inflation which has been a means to deprive you of the true value of your purchases. In other words legalese stealing from you.
Twenty-three times in recorded history this has been shown to the people and they still can’t read and understand it. When a bank “extends” credit, it has to use someone else’s credit and “extend” it to a third party. It is not a loan (B to C); it is a lengthening of the process (A to B to C). The credit comes from A (a man - lender) in the private, through C (U.S. citizen – agent for A), to B (bank - lender) in the public, to C (U.S. citizen - borrower) in the public. When a LENDER loans assets to a BORROWER: A re-payment of lent principal is presumed. When a LENDER notes, within Box 5, a check mark to the left of “yes”: abandonment occurs. When said abandonment of secured property occurs: LENDER is availed the ability to deduct, as “an ordinary loss”, the amount listed on 1099-A/C (I am including a reference to form 1099-C as a talking point because forms1099-A and 1099-C are congruous to the outcome one might seek).
In order for debts to be written off they must be charged ASSESSED as a tax on the 1040 or 1040-V, The Corporations cannot charge or assess taxes. They can collect them, but they can’t write off tax loses because they cannot assess them. They need the accused person to NOT ASSESS the tax, which is a commercial Protest/Dishonor/Default. The use of your credit has to be reported, weather you use it or they use it. The Commercial Corporations and Companies of the UNITED STATES per their Bankrupt EIN's have been using the UNITED STATES Social Security Treasury of “We the People’s” Mortmain Accounts as their new yearly operating Collateral to obtain their Trade/Bank Acceptance Loans from the FEDERAL RESERVE BANKS under Foreign Commercial Usury Banking controls (this Commercial Action is covered by the Statutes at Large and USC Title 46, the Shipping Act, chapters 73 and 573).
This is a vitally important concept. Because, the Federal government set up a trust where the Secretary of the Treasury is acting as the trustee. The people voluntarily transferred their gold to the government. The gold and perhaps other things are the assets of the trust. [The people would also be the beneficiaries of this trust. And the people have been given an exemption. In the broadest terms, we call what is owed us an exemption.] As a result of the construction of this trust, every obligation, heretofore or hereafter incurred, whether or not any such provision is contained therein or made with respect thereto, shall be discharged upon payment, dollar for dollar, in any coin or currency which at time of payment is legal tender for public and private debts.
We have been given an exemption from having to pay our debts. We now have the ability to discharge our debts. To begin to understand how we might access this exemption, we need to look at various forms of payment. We already know that that “all coins and currencies of the United States (including Federal Reserve notes … ) … shall be legal tender.” But it appears that there are other forms of payment which are also valid that are not included in those listed above. A quote from the Uniform Commercial Code (UCC) will illustrate this point
§ 2.304. Price Payable in Money, Goods, Realty, or Otherwise
This quote makes it clear that we may discharge our debts in something other than money, goods, or realty. What could this mean? A quote from a Federal Reserve publication will shed some light on this question.
Modern monetary systems have a fiat base – literally money by decree – with depository institutions, acting as fiduciaries, creating obligations against themselves with the fiat base acting in part as reserves. The decree appears on the currency notes: “This note is legal tender for all debts, public and private.” While no individual could refuse to accept such money for debt repayment, exchange contracts could easily be composed to thwart its use in everyday commerce. However, a forceful explanation as to why money is accepted is that the federal government requires it as payment for tax liabilities. Anticipation of the need to clear this debt creates a demand for the pure fiat dollar. [“Money, Credit and Velocity,” Review, May, 1982, Vol. 64. No. 5, Federal Reserve Bank of St. Louis, p. 25]
The Federal Reserve is saying that the people could easily replace the use of Federal Reserve Notes in daily life by using exchange contracts. This is amazing news. It means that we can use exchange contracts to discharge our debts. We will leave the discussion of what an exchange contract is and how it might be used for another topic. For now, let’s turn our attention back to 1099-A: Acquisition or Abandonment of Secured Property.
Another way of looking at our monetary system is to say that everything in our society is pre-paid. All money is backed by the people and their property. Without us, there would be no money in our current system. Everything in society has been paid for at the manufacturing level with the money that was created from us and our property. Therefore, everything in existence in our society is an extension of what we are owed and therefore everything is pre-paid by us and for us. Our goal is to show the people how to gain access to what is rightfully theirs. We have been paying the debt with our property, our labor and our taxes. We are owed a great deal.
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