Yes the international community was bankrupted in 1930 with its precedent in law Tompkins vs. Erie Railroad 1939. In order to bankrupt people, they were established as property with the previous case. Mr. Tompkins was declared a corporation that could not sue the Erie Railroad because he was not under contract with them. Hence, when Tompkins lost this case as of contracts law, people were then property not unlike slavery in history, but now it was official internationally. The real reason for this occurrence was that the Polity forgot the source and process of issuing sovereignty. So, what to do with the people? The choice had to be made and the gold was getting everyone in dutch as of countries plundering for gold attempting to control the currency. The rich families (Polity - Rothschild, Rockefeller, Brown et al) decided to pull the gold from the money-backing it and legalise the currency instead. In other words, the paper itself became the substance. Nothing wrong with that as long as everyone agreed. The problem remained that once people become aware of the fact that we are insolvent, few agree with it, but no one knows the answer overtly except The Brauch foundation (TBf). Their view is to introduce the Federal Reserve certificate (FRc) to the banks. Once the FRc is introduced cover huge blocks of money, profit certification takes place and solvency. It is very simple, if one comprehends the previous statement.
For those of you who have any question, the one asking this question, and answering it, are the same person...and I think clearly an interesting, but absolute kook!
I won't try to dispute too much of the absurdness above, but lets take a few main things:
The word Bankruptcy defined: Insolvency; a process governed by federal law to help when people or entities cannot or will not pay their debts. The condition of being unable to pay one's debts as they become due.
But the Governments of the World since 1930 (generally) have and are paying their debts.
It is proper to notice that there is much difference between a bankrupt and an insolvent. A man may be a bankrupt, and yet be perfectly solvent; that is, eventually able to pay all his debts or, he may be insolvent, and, not be a bankrupt.
The bankrupt laws are intended mainly to secure creditors from waste, extravagance, and mismanagement, by seizing the property out of the hands of the debtors, and placing it in the custody of the law; whereas the insolvent laws only relieve a man from imprisonment for debt after he has assigned his property for the benefit of his creditors. Both under bankrupt and insolvent laws the debtor is required to surrender his property, for the benefit of his creditors.
Doesn't sound like anything that can even remotely said to apply to countries and governments since 1930 does it? And anyone should notice quickly...he claims US law cases had an effect on all the international governments in the world. That he would suggest that Germany, Italy, even France...(or any other country) just prior to WW2, in 1939, (or now) would care the least about some finding by some district of a US Court against a US railroad, should tell you a lot. Also note he claims the only ones that know all this is - The Brauch Foundation -. That, (if it exists anyplace other than this guys imagination), he says on his bio is something he originated! (Although it doesn't stop him from addressing it in the 3rd person). But considering so much of this site is otherwise droll, factual and non fiction, it makes for fun reading.
Like any government, the US could default on its debt obligations, or even abrogate its national debt, which would be the same as declaring bankruptcy but not with the same legal standing. But before that would happen, it could simply authorize a higher debt ceiling and use that money to pay its other debts, which is what it is actually doing whenever it has a budget deficit. The US as a country has a net worth far in excess of its national debt, but as of 2014, the debt of $17.6 trillion was about equal to 104% of the Gross Domestic Product.
Yes, unfortunately.
Many have in the past and the United States appears to be about to do so now. We simply cannot give everyone everything without someone paying the price.
The world will go crazy and all of the girls will die cuz we need Justice, Gap, Old navy, Ann Taylors, and all of those rockin stores :) :(
General Motors has gone bankrupt six months ago/////they are not bankrupt they just ment under the protection of the court to give them time to reorganize
The object of Monopoly is to bankrupt your opponents and have most money at the end of the game, don't let yourself get bankrupt! ;)
A parastatal is an agency or company that is partially or wholly controlled by the government. An advantage is that the company has the entire resources of the nation backing it, so one bad decision that might bankrupt and collapse a private company will not do so with a parastatal.
That you are insolvent or bankrupt.
Countries can not go bankrupt the way that individuals or businesses do. If the country's credit rating drops further, foreigners will be less eager to buy US bonds and interest rates will arise. The government will find it more expensive to increase the debt. Higher interest rates also drive up the cost of doing business and have bad effects on the general economy. Adjustments will have to be made at some point by government-- taxes must be increased and/or expenses must be cut. Both tend to weaken the economy and bring hard times for the people . Cuts in defense would weaken national defense with unknown results. Cuts in social programs tend to hurt the poorer and less privileged the most. Cuts in education (another opinion) I don't want to disillusion you but the US is bankrupt. Our nation's debt is nearly $16-trillion dollars and our annual deficits, in the foreseeable future, exceed $1-trillion per year.
Nothing.
42,000 trucks, or 2.1 percent of the nation's capacity, were idled in Q1 of 2008-with nearly 1,000companies going bankrupt
It can not pay its employees or pay for its services.
It should not be effected in any way. It is not part of the bankrupt assets. It is a bailor/bailee relationship.
If the Bankrupt company is just the retailer then the warranty is still covered by the manufacturer. If the manufacturer goes bankrupt then the retailer covers the warranty. The seller is responsible for a warranty. Clearly if the seller is the manufacturer and they go bankrupt then it's most unlikely that the warranty will remain in force.
Post Second World War the nation was bankrupt almost and couldn't afford the empire.
After WWII, Germany was defeated, bankrupt, and mostly a pile of rubble from Allied bombing raids.
we will have to be a beggar or go to pawn sho and Ewen says i have no money so i have to go to the pawn sho
I guess you run out of money, then. Sell your items or battle some trainers.
The note becomes a part of the bankrupt individuals assets.
I was made bankrupt on June 6th this year 2008 i already held a personal licence can i still use it
The co-signor becomes responsible for the balance due on the loan.