Basically the US defaulted in the 1880's because of the Civil War and corporations robbing the country blind due to poor regulatory oversight. The Congress went to the Rothschild bank in London (most likely because of mutual cult affiliations) and asked for a huge loan to keep the country running. In return for the money they put us under a Second Constitution which allowed our laws to go from protecting our rights by virtue of them being god given to being protected in relation to the needs of the country's leaders. Similar to how a company hires and fires people based on it's budget.