Archive for the ‘Federal Reserve’ Category
by Nicholas Testaccio
The Speaker of the House and the President reached an agreement on the Debt Ceiling. Hoorah! This is, of course, simply a show for the masses to watch and obsess over in order to be distracted and deterred from logic and reason while the elite salivate.
Let’s review. Article I, Section 8
Clause 1: “The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States…”
Clause 2: “To borrow Money on the credit of the United States;”
Clause 5: “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;”
Now you know everything there is to know about why we have a “debt ceiling”, and how this affects the operation of our government. Or do you?
I am one of those unfortunate souls who is not satisfied with the rhetoric, or the mountains of political speech and questionable expertise spewed out by the pundits and talking heads paraded for our entertainment. We must never validate as legitimate anyone who comes out to certify the pure rubbish that is now a government of, by, and for the self-promoters and political pirates.
In his letters, using the nom de plume Federal Farmer, Richard Henry Lee wrote, “Should the general government think it politic, as some administrations (if not all) probably will, to look for a support in a system of influence, the government will take every occasion to multiply laws, and officers to execute them, considering these as so many necessary props for its own support.”
In the many years since the ratification of the Constitution, and Lee’s forecast of what is now a bloated government that will saddle future generations with a yoke so heavy that they will find it difficult to place nutrition on the table, “public officials” have devised numerous ways to put us into a deep hole. If anyone thinks that we can pay off this debt, they must be living within a delusional world.
Nevertheless, this government, aided by the corporate press, puts on this Punch and Judy show for the masses on a regular basis. The public must live in fear that we might default on our debt, and Heaven forbid some of the Billions of dollars doled out every year for programs, pork, and price-gouging enterprise contrary to the few delegated authorities of the government might be cut.
Lee goes on to address the situation, “The internal sources of taxation then must be called into operation, and internal tax laws and federal assessors and collectors spread over this immense country.” It goes without saying that we are far beyond that point, having taxed the public, unlawfully I might add, to pay for the corruption that flows from both federal and state government. Significantly, our Declaration decries this very abuse, “He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance.”
I say taxed the public unlawfully because, yes I have read 26 U.S.C., Supreme Court cases related to the Sixteenth Amendment, and others showing that the current application of the “income tax” does not, in any way, reconcile with what is written in the code. For brevity’s sake, the Supreme Court ruled that the Sixteenth Amendment gave congress no new power to tax, but rather prevented taking a direct tax and placing it into the category of an excise tax. 26 U.S.C. confirms this by detailing what sources and activities create a liability to pay an “income tax.” It should be noted that the IRS claims that you cannot use what is clearly written in the code to “determine taxable income.” That alone should tell you where we will eventually wind up. Let’s drudge onward.
In Clause 2, congress has the power “To borrow money on the credit of the United States.” Up until 1971, when Nixon took us off the gold standard, money was in the form of a tangible asset such as gold or silver. Now, it is fiat. Fiat, in the case of the current monetary system, means nothing more than arbitrary. By decree! Make it so! Through some agreements, such as Bretton Woods, and using the U.S. Dollar as the acceptable currency in exchange for Crude Oil, we have been able to buy and sell goods and services throughout the World with nothing more than paper. The system now in place is essentially a sham, and we borrow nothing more than that, which we can simply print.
Alexander Hamilton, our first Treasurer, wrote “In the opinion of the Secretary, the wisdom of the House, in giving their explicit sanction to the proposition which has been stated, ["That an adequate provision for the support of the Public Credit, is a matter of high importance to the honor and prosperity of the United States."] cannot but be applauded by all, who will seriously consider, and trace through their obvious consequences, these plain and undeniable truths.” He goes on to note that there will be circumstances by which even wealthy nations may be forced to borrow money. By no means, today, is the U.S. forced to borrow money when it has already exhibited that it is more than willing to create Billions to bail out the “too big to fail”, or in its quest to convert this country to a communist nation by issuing checks to we peons to keep us satisfied in a time of crisis.
Clause 5: gave congress the authority “To coin Money, regulate the Value thereof…’, but that all changed with the creation of the Federal Reserve, and other schemes put into place. So, the question is, as to what we are borrowing, and what are they who are buying our debt are lending us? And what happens if nations decide that the U.S. Dollar should no longer be the reserve currency, opting for another system such as a currency based on a hard asset?
Much of what we are experiencing is a house of ...
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I am not a paranoid, conspiracy theorist. I don’t think people are after me, but I do know that our government operates way beyond its limited authority.
What I am is tired. I’m frustrated, I’m angry, I’m sick of those who do not know or understand the law of the land, all the horrific acts of corruption, and tyranny, but are more than happy to label.
The United States of America was truly a great experiment in freedom. The concept was liberty and justice for all.
The idea that came from years of denied redress, the Declaration of Independence, the revolution, and the debates leading up to the ratification of the Constitution was to create a limited government that was to be controlled by a federation of states whose primary function was the protection of the individual’s rights.
I am disturbed that in our present day those who believe themselves to be intelligent are so far off the meaning of independence that any argument to the contrary falls short of hitting its mark. The mark is to convince the subject that their idea of freedom falls far from the needs, desires, hopes of the human spirit, and what our Founders intended.
If the minds of the public are so closed, or rather attuned to the concept that if you’ve heard it on the tube, read it in the ‘news paper’, a history book, heard it from a politician, a teacher, or judge then it must be true, then the battle for truth is exhausting.
For instance, as I’ve repeated here many times in the past, this nation is a Constitutional Federal Republic. It is not open for debate. It has, however, become a topic for controversy based on what the majority believes it is today.
The United States of America became a democracy through the maneuvers of the truly bigoted, corrupt, and evil people who took power with a long process of misinformation, and backhanded deals. It grew through the ignorance of the public, corruption of the judiciary, and dishonesty in our education system.
If we move forward from the point of fact that this form of government is something other than what is believed, then we must conclude that our freedom was, at some point stolen from us.
Who stole it? The politician, the judge, the police officer, the teacher, our neighbor, the misguided and dishonest mainstream media, or perhaps it was a combination of all.
Think of the magnitude of this conspiracy. It’s simple enough to conclude that this is at least some form of republic; “The United States shall guarantee to every State in this Union a Republican Form of Government…” – Article IV, Section 4 of the Constitution.
It’s also simple enough to deduce that the Founders would not have given us a democracy:
“Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!” Benjamin Franklin
“A democracy is nothing more than mob rule, where fifty-one percent of the people may take away the rights of the other forty-nine.” Thomas Jefferson
The man considered the father of the American Revolution Samuel Adams said, “Remember democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy that did not commit suicide.”
To convince the public of the virtues of the Constitution, James Madison wrote in Federalist #10, “Hence it is that such democracies have ever been spectacles of turbulence and contention; have ever been found incompatible with personal security or the rights of property; and have in general been as short in their lives as they have been violent in their deaths.”
So if you are willing to do just a modicum of reading and research we can honestly determine that this is not a democracy, but rather a federation of states, based in the rule of law as a republican form of government; a Constitutional Federal Republic.
Be honest with yourself. If you can’t, then don’t bother to go further on because you are one of the many lost souls convinced by the numerous conspiracies that this nation is something other than its original design.
Think of the depth of this conspiracy. Each time a politician speaks the word democracy he disavows our form of government. Each time an historian, or teacher utters the word democracy they corrupt the minds of the uneducated. And each time a journalist turns a blind eye to the fraud they validate the lie.
It's clear that if you've read and understood the history of the world, and the evolution from a lawful society to a legal society you're considered a nut. That is to say that if you believe in the rule of law, and the sovereignty of the People as stated in the Declaration of Independence then there is no place for you in this society; you are a paranoid conspiracy theorist.
If you are knowledgeable of the fact that armed government agents operating under 'color or law', paranoia, and bigotry exterminated over 260 million unarmed people in the Twentieth Century then the modern day thinker has no use for you. Even though the historical record documents the atrocities, and corroborates your statements; you are a paranoid conspiracy theorist.
History is filled with conspiracy. It is the norm, not the aberration, but talk of conspiracy and you’re labeled something that most believe to be very unflattering.
However, consider these few instances:
Tuskegee syphilis experiment
Remember the Maine
Gulf of Tonkin
USS Liberty
Kennedy Assassination
Violent Crime
Consider one of the most obvious conspiracies out there for everyone to see, but few to understand, or even acknowledge. The Federal Reserve System is not federal at all, but rather the “money trust of big banks” that controls our monetary system.
Then there is the most vicious, and corrupt application of the income tax, to which every federal prosecutor, and judge conspires to help rob us of our wealth by keeping us in fear of the IRS. The income tax is at best questionable on almost every level; ratification, application, and enforcement.
Bill Benson presented to the courts, and the congress 17,000 certified documents showing that ...
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The U.S. economy is dying and most American voters have no idea why it is happening. Unfortunately, the mainstream media and most of our politicians are not telling the truth about the collapse of the economy. This generation was handed the keys to the greatest economic machine that the world has ever seen, and we have completely wrecked it. Decades of incredibly foolish decisions have left us drowning in an ocean of corruption, greed and bad debt. Thousands of businesses and millions of jobs have left the country and poverty is exploding from coast to coast. We are literally becoming a joke to the rest of the world. It is absolutely imperative that we educate America about what is happening. Until the American people truly understand the problems that we are facing, they will not be willing to implement the solutions that are necessary.
The following are the top 100 statistics about the collapse of the economy that every American voter should know....
#100 A staggering 48.5% of all Americans live in a household that receives some form of government benefits. Back in 1983, that number was below 30 percent.
#99 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.
#98 Since Barack Obama was sworn in, the share of the national debt per household has increased by $35,835.
#97 The U.S. national debt has been increasing by an average of more than 4 billion dollars per day since the beginning of the Obama administration.
#96 It is being projected that the U.S. national debt will hit 344% of GDP by the year 2050 if we continue on our current course.
#95 The Congressional Budget Office is projecting that U.S. government debt held by the public will reach a staggering 716 percent of GDP by the year 2080.
#94 In 2010, the U.S. government paid $413 billion in interest on the national debt. That is projected to at least double over the next decade.
#93 According to one new survey, one out of every three Americans would not be able to make a mortgage or rent payment next month if they suddenly lost their current job.
#92 State and local government debt has reached an all-time high of 22 percent of U.S. GDP.
#91 In 1980, government transfer payments accounted for just 11.7% of all income. Today, government transfer payments account for 18.4% of all income.
#90 U.S. households are now receiving more income from the U.S. government than they are paying to the government in taxes.
#89 According to a new study conducted by the BlackRock Investment Institute, the ratio of household debt to personal income in the United States is now 154 percent.
#88 If you can believe it, one out of every seven Americans has at least 10 credit cards.
#87 According to the Bureau of Economic Analysis, health care costs accounted for just 9.5% of all personal consumption back in 1980. Today they account for approximately 16.3%.
#86 The cost of a health insurance policy for the average American family rose by a whopping 9 percent last year, and according to a report put out by the Kaiser Family Foundation and the Health Research and Educational Trust, the average family health insurance policy now costs over $15,000 a year.
#85 One study found that approximately 41 percent of working age Americans either have medical bill problems or are currently paying off medical debt.
#84 An all-time record 49.9 million Americans do not have any health insurance at all at this point, and the percentage of Americans covered by employer-based health plans has fallen for 11 years in a row.
#83 According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 percent of the personal bankruptcies in the United States. Of those bankruptcies that were caused by medical bills, approximately 75 percent of them involved individuals that actually did have health insurance.
#82 Average yearly tuition at U.S. private universities is now up to $27,293.
#81 The cost of college tuition in the United States has gone up by over 900 percent since 1978.
#80 In America today, approximately two-thirds of all college students graduate with student loans.
#79 In 2010, the average college graduate had accumulated approximately $25,000 in student loan debt by graduation day.
#78 The total amount of student loan debt in the United States now exceeds the total amount of credit card debt in the United States.
#77 One-third of all college graduates end up taking jobs that don't even require college degrees.
#76 In the United States today, there are more than 100,000 janitors that have college degrees.
#75 In the United States today, 317,000 waiters and waitresses have college degrees.
#74 In the United States today, approximately 365,000 cashiers have college degrees.
#73 It is being projected that for the first time ever, the OPEC nations are going to bring in over a trillion dollars from exporting oil this year. Their biggest customer is the United States.
#72 U.S. oil companies will bring in about $200 billion in pre-tax profits this year. They will also receive about $4.4 billion in specialized tax breaks from the U.S. government.
#71 The United States has had a negative trade balance every single year since 1976, and since that time the United States has run a total trade deficit of more than 7.5 trillion dollars with the rest of the world.
#70 The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001.
#69 The U.S. trade deficit with China is now 27 times larger than it was back in 1990.
#68 Today, the United States spends more than 4 dollars on goods and services from China for every one dollar that China spends on goods and services from the United States.
#67 China has surpassed the United States and is now the largest PC market in the entire world.
#66 In 2002, the United States had a trade deficit in "advanced technology products" of $16 billion with ...
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He is back! And so are we.
RTR is proud to back the man Dr. Ron Paul this coming election. Come on America! Restore The Republic. Vote for Ron Paul 2012.
[youtube=http://www.youtube.com/watch?v=UUNIeOB0whI=320&h=240]
[youtube=http://www.youtube.com/watch?v=WMxca8hhGhs=320&h=240]
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The following is a comprehensive list of all representatives that voted against an audit of the "Privately Owned" Federal Reserve Bank.
http://www.campaignforliberty.com/materials/HR1207-Shame-List.pdf
We feel that every representative should have stood in favor of this important legislation for several reasons.
The primary, and most basic reason being that in the 97 years of its operation the Federal Reserve has NEVER been audited. EVER!
Do you think perhaps it is overdue? Especially in light of what has transpired with the economy in the last 24 months?
Can any of these representatives offer a valid reason for voting aginst this legislation? I dont think so, and we here at RTR have heard them all.
1. The most ridiculous being that it would disrupt operations and pose a risk to the recovery. What recovery? Most recently: Wells Fargo laying off 2,800, Microsoft laying off 5,800, and the tens of thousands that have lost their jobs?
High unemployment, and a moribund housing market have increased risks to the U.S. economic recovery, while the public debt looms large and needs to be cut.
2. Investors were worried that greater political influence in the Fed's operations, could weaken the central bank's resolve to fight inflation in the future. Please note, the dollar has lost approximately 95% of it's value since the Fed came into being in 1913. I think the Fed, based upon this fact, is losing it's battle against inflation.
The U.S. House of Representatives had approved a bill in December of 2009 that included a provision, championed by Texas Representative Ron Paul, that would have opened the Fed's dealings to audits much the same as agencies of the government. But in a statement on June 15 of this year, House Democrats participating in negotiations over a final financial reform bill signaled a willingness to live with a narrower Senate audit provision that does not cover monetary policy.
The Fed, which has admitted it was too complacent about regulatory oversight in the run-up to the global financial crisis, has come under heavy fire for being too close to the banks it regulates. So, in the end, the U.S. central bank appears to be emerging largely unscathed by the regulatory reform efforts. It successfully fought off a Senate push In May 2010, that would have stripped it of its oversight of smaller banks, and is poised to emerge as the most powerful financial regulator when reforms are complete.
If you agree with us that this legislation should have passed, then exercise your right in the next election cycle and vote out those who failed once again to do the right thing, and uphold their oath to defend, and protect the Constitution of the United States of America.
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