Am I allowed to rack up a bunch of credit card debt, give away all my ets, then file for bankruptcy?

Say I get myself into a lot of debt, ie. $50,000 of credit card debt by buying under the maximum spending limit and paying the minimum payment every month. I then give away all of my ets as gifts to friends and family. After filing for bankruptcy and erasing all of my debt, I simply ask for the ets back. I know that people used to do this quite some time ago before there were restrictions on bankruptcy, but how can companies or the government stop you from doing this? If the ets legally belong to someone else, how can the owners be held accountable for the debt held by the original owner? Some enlightenment on this subject would be nice. Thanks