To my understanding;
Separate entities. One is organic, de jure government, the "united States of America".
The other a Dun and Bradstreet registered corporation, the de facto "UNITED STATES OF AMERICA".
One is very small with little power that the central banksters tried to kill via bankruptcy, the other is enormous and the one we complain about.
That's why Obama is "Prez". He isn't President of the united States. He's President of the UNITED STATES, a wholly owned subsidiary of the U.N., World Government, your NWO. Just like London isn't the "CITY OF LONDON".
They just haven't killed off the other twin locked in the tower, yet. They fear doing so because of mass revolt. So they are slowly trading places, one for the other so the people take no direct notice. Mostly often without the knowledge and CERTAINLY NOT the consent of the American people. All stealth, lies and deceit. Like replacing painting by a Master with forged copy.
They have not succeeded yet. Americans have resisted what little they are aware of; i.e. North American Union, etc. NAFTA, CAFTA all fall under this attempt to plunder. As I said, no success yet.
But they sure ARE trying.
Rothschild Crime Syndicate Inc.
“We are all born ignorant, but one must work hard to remain stupid."
~ Benjamin Franklin