When a government goes bankrupt, it loses its sovereignty.

In 1933 the United States declared

bankruptcy, as expressed in Roosevelt's Executive Orders 6073, 6102, 6111, and 6260, House Joint
Resolution 192 of June 5, 1933, confirmed in Perry v. United States, (1935) 294 U.S. 330-381, 79 L.Ed
912, as well as 31 USC 5112, 5119, and 12 USC 95A (The WAR POWERS ACT TITLE 12 USC. Section 95 (a)
and 95 (b).)