Financial Armageddon

June 20, 2023 | Banking, Constitution, Federal Reserve, General, Sound Money

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 cards designed to create an environment wherein the rich get richer, and the poor stay poor. Yes, there are certainly opportunities, especially in the United States, for entrepreneurs to create and prosper, but in the long run they are all captives of a system based on fraud. Henry Ford, Sr., has been attributed with saying, “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” As it is today, in so many things, the function of our monetary system is clouded in misinformation, and promoted by various entities, such as our education system, and a willingness of the people to be duped.

Realize that greed and power go hand and hand. Those who wield such power have no regard for you, your rights, and those who they send into the horror of the wars that they create for financial gain. The banking cartel has ruled for centuries, manipulating economics, and even elections. A Rothschild is credited with saying “Permit me to issue and control the money of a nation, and I care not who makes its laws!”

Consider the FED, a creation of the European banking cartel, as the creature who has controlled our lives for decades. It is not an agency of this government, nor was its creation a power granted to congress. It is an entity unto its own; scheming, and controlling. Congress acts as if it is a legitimate enterprise with the interest of the nation as its core responsibility. Consider the FED as the One Ring to Rule them all. The dark entity whose goal is control by plots, and propaganda designed to keep us at odds with reality. It is the biggest scam, out there for all to see, and yet few recognize its evil design.

In this latest round of showmanship, the Debt Ceiling will once again be raised to accommodate an ever expanding enterprise designed to strip away any hope for financial stability. As of this writing the National Debt has broached THIRTY-ONE TRILLION DOLLARS. This is, of course, contrived on what are mostly fraudulent numbers. The FED continues to bail-out banks and other financial institutions, while saddling you and I with the payment of that debt. This is truly akin to what was, in the past, the system of lords and serfs. This is a Three Tier system, wherein those at the top recognize the goal, while the majority walk around in a daze of ignorance, with a few understanding that we are being led to a very dark place. A place where you and your children will be nothing more than chattel to an “Elite” who will have dominion over every aspect of your life. “You will own nothing and be happy.”

Here is reality. At some point, we must reconcile that the debt we are incurring cannot be repaid. We must also throw off the veil that has become this “democracy,” and stand firm on the fact that by our Constitution, government has limited delegated authority. That the term “General Welfare” was by no means meant to provide a route toward a totalitarian state wherein the government controls every aspect of our lives. Public Officials must be held to that rule of law, and we must eviscerate what has become the creator of our demise, and the prospective jailer of our future.

How do we stop this drive towards the abyss of “Financial Armageddon?”

The first thing that must be done is to throw off the yoke of ignorance and fear. If you think it’s bad now, you haven’t seen anything yet. Stand firm, as did the men and women who fostered this Nation. Understand that if you don’t, your children will be facing a monster so abhorrent that their lives will be a living hell. There are enough videos of those who lived behind the Iron Curtain, and I’ve spent enough time with some to know that a totalitarian state is something to be feared.

Understand your options to fight the leviathan that controls our lives. I have written enough articles on the Sovereignty of the People, and how the laws give us the power to hold “public officials” in check. Join a group that wants to make change. Find out if they are serious about corralling government and holding their representatives accountable. You’re going to be thinking “out of the box,” and their willingness to listen will tell you if it is a worthwhile effort. If not, move on to the next group. There must be others who comprehend the fact that the road we are on is not the right path to saving the Republic.

Get out the vote. Find your candidate, and question him/her on their knowledge of our system of government. Talk to those around that person. Often, the supporting staff is a huge problem. Many of them are more interested in power than the truth. They are concerned with what they think they know, rather than what is right. If your candidate is elected, and deviates from the course you laid out, don’t give them a moment of peace. As soon as they are off course, put them on notice that if you can’t get them to resign, you’re going to vote them out of office.

We need to do these things. The financial future, and therefore the freedom of this Nation depends on what we do now.

We do not have a monetary system that is sound. It is predicated on a house of cards that is supported by pride, ignorance, and greed. With a currency backed by a hard asset, such as gold, the government cannot run a scam on the people. Fiat dollars allow your representatives to run amok with nonsense such as a “debt ceiling.” If we do not put our foot down now, a boot will come down on our necks that will take every last shred of liberty, as limited as it has become.

History may not exactly repeat itself, but it certainly rhymes with all the missteps and calamities of the past. There are few who are willing to admit that they have been duped, and fewer still who will take any action to rid themselves of the yoke being placed around their neck.