Today because private bankers issue our nation's currency, they control the economy as well as the people. The Federal Reserve creates the money as a debt instrument. We the People thereby become debtors and the bankers become our creditors.
The government could allocate a trillion dollars to improve the infrastructure of this nation and employ hundreds of thousands of laborers using debt free currency. It would be created by the U.S. Treasury. Since this money is a result of the productive labor of the workers, there’s no borrowing. No borrowing, no interest paid. The whole thing becomes unnecessary.
In the Constitution; Article I, Section 8, Clause 5, Congress is given the power to coin money but, is not authorized to transfer that authority to any other agency or institution, private or otherwise. The word coin used in this article is a verb that authorizes Congress to create money. Money created by Congressional authority is debt free while the money created by the banking institutions is not.
According John Adams there are only two ways enslave a nation, the first is by conquering it militarily and the second way is to drown it in debt. It is clear in the second way that the borrower is also the servant of the lender.
The government of the United States spends 2.6 trillion dollars to service the debt. If Congress were to issue its own debt free currency we could reduce the cost of government by nearly 40% while at the same time lowering taxes, increasing employment, and ensuring the prosperity of the American people.
I agree with your views, but it will take some time to relieve ourselves of the debt burden we've allowed to accumulate. Our $17+ trillion debt, under your assumption of 40% savings of a projected annual budget of $5 trillion (assuming recent spending increase of $1.2 trillion +$3.8 trillion current budget) it will take us 8.5 years to retire our debt--not including the interest on that debt. Let's assume it could take us 12 years to become debt-free, it would be the best possible investment we can make.
Combine debt retirement with a truly effective (Fair Tax?) tax system, and an end to onerous regulatory burdens on business, we could cut that time in half, saving approximately $8 trillion. I can sign on to that!
Terry, I'm happy to expand on posts as much as necessary. Challenges too, are warmly welcomed (when put civilly).
1) A municipal (government) corporation (under sovereign immunity) can also act in a commercial capacity (subject to commercial liabilities). Where the degree to which its acts are very largely commercial, it has waived immunity by selective, detailed statute. However, in the majority of instances, it retains its municipal corporate character. Thus it's technically less a 'business corporation' than most folks have concluded from casual observation of structural similarities.
2) In essence, a Citizen is a member of a society. It has origin in two distinct theories of jurisprudence, Jus Sanguinis (by blood), or Jus Soli (by soil). Our Federation uses a hybrid, relying principally on Jus Sanguinis. Where Jus Soli is used, determination of subsequent citizenship choice is by Lawful Permanent Domicile ... not mere 'residence'. Congress has declared it to be a violation of government policy to hinder free choice to expatriate one's stipulation of citizenship for another.
3) As we see from answer 2, by accepting or otherwise invoking 'membership' under a government's exclusive ... internal ... municipal jurisdiction, we may exit or abandon societal membership in our State to enter the Federal. In the particular status of 'citizen of the United States', the designation is ... granted ... by statute, so Rights are entirely Civil, not Natural. As the DC city-state conducts itself on Art. IV, Sec. 3, cl. 2 ... no Constitutions apply. No Constitutions, ipso facto, no Bills of Rights. DC is thus 'Political Hell' to be escaped at all cost or effort. It is the polar opposite of the 'Spirit of America'.
4) The Citizens of the States (countries) of America are held repeatedly by the courts as their Sovereign Entity, singularly and severally. In that capacity, they are Of Supreme Right to own any part of their countries as, by Law, they can acquire. The Peoples do not 'own' the governments, because they're only fictional constructs (corporations) existing entirely by their conditional permission. The various governments are best construed as Administrative Trusts, to which The Peoples relate as Settlors-Beneficiaries.
4a) By ALL, I do mean all politicians, because the whole lot have chosen to act under jurisdiction and exist in the status of 'citizen of the United States'. THAT'S the REAL significance of fringed flags everywhere.
4b) The phrase is plain. In exclusive United States Territory or under its exclusive jurisdictions ... no Constitutional limitations apply. While originally conceived to apply only to the Ten Mile Square 'Seat of Government, Congress has surreptitiously 'slipped its chains'. Yes, that specific enclave has ALWAYS been a Constitutional Dictatorship ... now spread across the whole Land by guile and fraud. The first step was set in 1791 and the second in 1871. Everything since has been expansions on those two 'keystones'. ANYONE held by evidenciary documentation to be legally domiciled in DC or contractually traversed under its municipal jurisdiction, is 'property' of the 'Congress-King'.
Pat, thanks for taking the time and having the patience to help me understand this. It seems much more complicated than I believe it needs to be, but that why we have lawyers, isn't it? Forgive me while I read over your response several more times. It doesn't sink in quickly.
Terry, once the basic principals are cinched down, the larger framework isn't at all complicated of envisioning. Focus on the ... Principals.
Any more questions are kindly received.
Pat, thanks. Been thinking on the subject of jury nullification; is there a flip side where the People can circumvent the normal prosecutorial process, indict a citizen or official, and place them on trial? Since we know Eric Holder is a co-conspirator in Obama's crimes against our Republic, he effectively blocks any chance for justice; there must be a way to override his abuse of authority.
Terry, in ordinary American Jurisprudence, the only Lawful means to prosecute anyone's criminal acts is for a Grand Jury to indite and a subsequent Petit Jury to Render Verdict.
Unless it can be overwhelmingly demonstrated that acts of an elected or duly appointed government official were performed in ... willful, intentional ... excess of Constitutionally authorized empowerment, that governing body's internal Administrative Process prevails in adjudicating the matter. In other words, the 'Subject Matter jurisdiction' is retained within the government unit.
So, Pat, if I understand you correctly, our Constitutionally-formed government, which has transformed itself into a criminal enterprise, has the final say in their own prosecution? If so, revolution, of whatever form, is our only option?
No, revolution isn't necessary, Terry. Removing ourselves from the federal District Jurisdictions, back into our original, ordinary State jurisdictions, accomplishes the same end goal through far less difficulty and ... anguish.
Debts that you may have forgotten:
Housing related commitments 6.11 T
Student and other loan guarantees 0.325 T
FDIC 7.4 T
The Federal Reserve 1.1 T
Social Security 26.5 T
Medicare 27.6 T
Other government trust funds 1.9 T
TOTAL 70.935 TRILLION
We can negotiate on a few billion +/- but the unfunded items that are "not on the books" are more damaging than the stuff that they admit to. There is also a bunch of money that is owed into the pension system for federal workers and since they are all eligible after 8 years (I believe) we pay that out for life after we kick out a bunch of these people.
In regard to your idea of a FAIR tax, I agree but you will never get a majority in the Congress to agree to it since it is considered a regressive tax that will unfairly punish the lower income people. Also, if you look at the current income tax the people were told at the time it passed that it would never go over 5% and only tax the rich. I believe it lasted that way for a couple of years and then was expanded. The only way we can trust that they will not restore the income tax in addition to a FAIR tax is to repeal the 16th amendment. Then add an amendment to state what the maximum FAIR tax could go up to. They would still figure a way around it with some sort of surtax or fees. . . .
Terry, the money loaned to the government is does not exist. Charging interest on money that does not exist is fraud. The interested we supposedly owe to the Federal Reserve is not a lawful and if we takeover the FED all of the interest owed will belong to the U.S. Treasury.
Would not bonds, etc., purchased by Americans not incur legitimate debt? Isn't that money loaned to the Government? Do you propose we cheat our fellow citizens? I consider this a moral, if not legal, debt.
Also, 'take over the FED' isn't a logical concept. Why would we 'take over' a corrupt corporation. If you meant 'dissolve our association with the FED and put the responsibility of minting our own money under our Treasury Department', I fully agree. Thanks for all your thoughts.