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The redemption movement is an element of the pseudolaw movement, mainly active in the United States and Canada, that promotes fraudulent debt and tax payment schemes. [1] The movement is also called redemptionism . [ 2 ]
In addition to defending the fiscal programs that he had imposed thus far and extolling a system of finance that was "prosperous beyond all expectations", the report enumerated existing sources of revenue, outlined the plan for the "Redemption of the public debt" and its accruing interest to stabilize the current system of funding, and proposed ...
A country's gross government debt (also called public debt or sovereign debt [1]) is the financial liabilities of the government sector. [2]: 81 Changes in government debt over time reflect primarily borrowing due to past government deficits. [3] A deficit occurs when a government's expenditures exceed revenues.
Sinking Fund bond of the City of Milan, issued 1 April 1927. A sinking fund is a fund established by an economic entity by setting aside revenue over a period of time to fund a future capital expense, or repayment of a long-term debt.
Elvick conceived the redemption methods, a set of fraudulent debt and tax payment schemes [25] that became part of sovereign citizen ideology. [26] As the Posse Comitatus movement evolved, its members created pseudolegal bodies that claimed to speak with the authority of "natural law" or "common law" and to supersede the government's legal system.
Advocates taxation and issuing bonds (debt) as preferred methods for funding government spending. [dubious – discuss] Emphasizes that government fund spending by crediting bank accounts. Purpose of taxation To pay down debt from central banks loaned to the government at interest, which is spent into the economy and the taxpayer needs to repay.
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Government debt (also known as public debt or national debt) is money (or credit) owed by any level of government; either central or federal government, municipal government, or local government. Some local governments issue bonds based on their taxing authority, such as tax increment bonds or revenue bonds .