jocjeb - All Comments

re: Meltdown Live-Blog Chapter 1

Ralph Fucetola JD — Sun, 19 Apr 2009 03:24:02 GMT

Ron Paul showed us the way in the 1970s with the relegalization of private ownership of gold - just in time for the substantial growth in wealth that is now being looted through the "bail out" con. He's introduced a bill to repeal the unlawful legal tender laws. And, of course, HR 1207 to audit the Fed.

The simple plan is to return to Constitutional Money. It is well worth the time to recall how it all happened.

At the end of the Revolutions one of the great lessons the people learned was to reject fiat money ("not worth a Continental").

When the Constitutional Convention met the draft Constitution had, in Art. 1, Sec. 8, among the powers of Congress, the power to declare legal tender. That clause was deleted from the Constitution. Instead, three clauses were included to govern money. First that Congress had power to coin money (no express monopoly was granted). Second, Congress could "emit no bills" which means, issue fiat money. Third, no State could make anything but gold and silver ".legal tender."

Those Constitutional provisions have never been amended.

During the War to Extend Federal Power, the Union govt issued the first "legal tender" greenback fiat money. After the War, various law suits were started, known as the "Legal Tender Cases." The Supreme Court rightly held that Congress had no power to declare legal tender for "all debts public and private." While the Federal govt had to accept its paper for obligations to it, it could not force private persons to use its paper.

The rump Congress (with a third of the country under marital law) enlarged the Supreme Court. Bankster clones were appointed to the new seats. The Court "reheard" the Legal Tender Cases and discovered "inherent power" in Congress to declare legal tender.

Whenever the Supreme Court makes a decision finding "inherent power" that means there is no Constitutional Right. Such Court decisions are nothing more than usurpations of the Constitution and are not valid precedence.

Led by Dr. Paul, it is time to return to Constitutional Money. Nothing less will save the Republic.

re: Meltdown Live-Blog Chapter 1

Tom — Sun, 19 Apr 2009 01:46:44 GMT

I would rather we be asking the question of what will it take and how to we start to put through our political system the changes necessary to remove the Fed and restore the dollar to a commodity backed (gold) currency?

Something to the effect of End the Fed. But it gets tricky when you look at Gold Standards and doing business with other nations. I guess we can all trade in gold between borders.

I don't know if it requires a Constitutional Amendment, I hope not, but there's a lot of energy to get something done. Why not help direct/educate towards a short, concise and simple objective.

re: Meltdown Live-Blog Chapter 1

Les — Sat, 18 Apr 2009 02:03:27 GMT

Perhaps a best solution would be to end the federal government. Now that would be "revolutionary".

re: Meltdown Live-Blog Chapter 1

Joseph Emerson Brown — Fri, 17 Apr 2009 20:26:10 GMT

Thanks for reading and commenting! I would say that it is a bad cop/bad cop scheme. I almost said bad cop/worse cop, but I can't easily decide which one is worse. If the Fed is supposed to be the restraining influence, what a great job they've done huh? I don't even want to imagine what it would be like if Congress was unrestrained.

I agree that the Congress is either too ignorant of/addicted to the easy spending money that the Fed gives them access to.

You're right, we probably won't get rid of the Fed until the dollar collapses; however, I think it is possible that we can still avoid that. The most realistic and optimistic scenario I can see is that the Fed is audited through HR 1207, leading to the repeal of the legal tender laws. This wouldn't kill the fed immediately, which is good - that would be too chaotic.

re: Meltdown Live-Blog Chapter 1

George Smith — Fri, 17 Apr 2009 19:13:50 GMT

The Fed ("We control inflation and print money") are the good cop in the good cop/bad cop scheme run by congress.

Congress threatens to spend/print too much and the Fed is the restraining influence (and does the direct printing).

Congress created the Fed and if enough of Congress agreed they could uncreate them. However, for now, Congress is too interested in spending money they don't have and will do anything to avoid having to end their spending.

So "killing the Fed" won't help (and anyway isn't likely until the dollar is dead).