November 22, 2009 12:00 Noon
27th at Main street in Kansas City Missouri.
bring friends, signs, and a good attitude 🙂 These rallys now include many groups supporting the effort. The KC rally coaliton includes Liberty Restoration Project, Campaign for Liberty, 912 We are Change and many Tea Party activists.
November 22 will be the 46th anniversary of the death of President John F. Kennedy.
Why do we celebrate this? To remember the actions of a man who attempted to force our nation to follow the Constitution in regards to monetary policy.
President Kennedy signed Executive Order #11110 authorizing the printing of United States Treasury notes to be circulated without the accumulation of debt.
This order still stands today, however is not followed due to the monopoly that the Federal Reserve Bank has on the US monetary policy.
Fast forward 46 years and there are bills in our Congress right now attempting to at least provide our nation with
oversight on that monopoly.
HR 833 would abolish the Federal Reserve board of governors entirely,
whereas HR1207 would provide for a full and complete audit on all accounting and distribution methods of the
Federal Reserve Bank and has 312 congressional sponsors.
In the US Senate a companion Audit bill, S 604 has 31 senatorial sponsors.
There is overwhelming support of bringing the Federal Reserve into some kind of boundaries
due to the recent endless debt and inflationary printing.
We plan on having a celebration of the First Amendment in support of these bills.
November 25, 2009 7 pm
The “Campaign for Liberty” and “Tea Party” groups as well as the “general public” are invited to attend these monthly study groups to share ideas and promote strategies that will assist us in electing those political leaders that will do what is best for our country. For more information contact Larry Flinchpaugh at 676-2565.
They still want to give the Feds even more responsibility over our children’s future!
I have a better plan, burn all the paper and computers holding derivatives. Reassess hard asset value and start this economy over on sound footing.
Derivatives are financial instruments whose values are based on something else, such as a mortgage-backed security or a commodity like oil. (So they have zero actual value)
Over-the-counter derivatives “grew explosively” in the past decade, with the face value of outstanding transactions rising sixfold to almost $700 trillion in 2008, Geithner added.
The fed just “printed” another Trillion dollars today with the goal of buying US Treasury notes. You know those promises to pay with interest sold by the criminals in Washington. Let’s walk through this transaction:
1 The treasury prints bonds and declares what they are willing to pay in interest if someone will give them money to use now.
2. The fed, a private bank with permission to print our money, thanks to the Federal Reserve Act of 1913, conjures a Trillion dollars out of thin air,
3. The Treasury trades the newly minted debt based bonds to the Fed for their newly minted money that comes at interest. (Also due to the Federal Reserve Act of 1913.)
4. The US Government spends the new money into the economy buying internal improvements and paying for external wars.
5. The private bank called The Federal Reserve gets interest earned in its new bonds, plus interest earned on the new money it loaned to the Treasury, plus the amount of the loan… Nice deal…
6. The gullible, American consumer, American tax payer, which ever you want to call them, buckles down to bear the burden of saving the economy and getting credit flowing again, which also comes at interest.
Feds undercut ammo supply
But Defense policy reversed after intervention by 2 Montana senators
Posted: March 17, 2009
9:00 pm Eastern
By Drew Zahn
© 2009 WorldNetDaily
Fired brass shell casings
Responding to two Democratic senators representing outraged private gun owners, the Department of Defense announced last night it has scrapped a new policy that would deplete the supply of ammunition by requiring destruction of fired military cartridge brass.
WHAT SHOULD WE DO TO SAVE THE AMERICAN ECONOMY?
Darrell L. Castle
Is the current tactic being employed to save the American financial system, the bailout, working? The answer to that question depends on your definition of the word “working”. If by “working” you mean the transferring of the nation’s wealth from working Americans to the bankers; the exponential accumulation of debt that must be repaid with interest by future generations; the destruction of the value of the dollar and with that destruction the lowering of the standard of living of working and retired Americans, creating the conditions that make martial law inevitable and with that declaration of martial law a world currency and world central bank; the nationalization of the American financial system; the ensconcing in positions of power, privilege, and dominance over the system of the very people who caused the crises in the first place, it has worked in spectacular fashion.
If you define “working” as ending the credit crises and freeing credit for business to put people back to work; allowing stable and profitable banks to emerge and lead the system back to stability; the avoidance of taxpayer money being used to pay huge bonuses and salaries to executives who have led their companies to failure; the avoidance of taxpayer money being used by banks to acquire stable, profitable companies including those not in the financial industry; avoidance of economic depression and with it the conditions of civil unrest and chaos, then it has been an abject failure.
The bailout and the coming economic stimulus follow what Keynesian economic theory dictates that we do. Keynesians believe that recessions are caused by a drop in aggregate demand. The Keynesian answer then is to increase demand by lowering interest rates. When interest rates are lowered to zero, which they now have been, without a corresponding increase in demand, it is because we are not squandering our money fast enough and thus the government must step in with a “stimulus” and squander it for us. This theory and tactic has worked in the past but will it work now? Not only will this tactic not work, it can’t work because for the first time in history debt, both public and private, has reached exponential growth. A problem caused by too much debt and credit that is too loose cannot be fixed by piling on more debt and more loose credit. More importantly, it can’t work because the underlying productive economy has been destroyed. Our manufacturing has been taken off shore to China, and Mexico. Our information technology has been taken off shore to India. Our financial system is obviously bankrupt.
Is there anything that can be done then to save this economy? Yes, there are many things that we could do which collectively would bring economic recovery very quickly.
End The FED. Monetary reform and economic recovery are not possible unless Congress is able to recover its Constitutional authority over our monetary system. The growth of debt must be stopped and reversed, and the debt based system of monetary creation through interest bearing bank credit must be reversed if we are to recover. The Federal Reserve Act of 1913 should be rescinded and the FED banks liquidated and their assets turned over to the US treasury. It would be acceptable for them to continue under a different name as independent clearinghouse banks. Once Congress regains its Constitutional authority over money, it could issue money based on the full faith and credit of the United States or said another way, based on the labor and productive capacity of the American people. This money and credit would keep the economy functioning and prevent depression while we transitioned from our present debt based system to the gold standard. Some type of income restitution should be considered to replace money stolen from the American people through the FED’s 95 years of fraud and theft. It could be called a negative income tax or income restitution, or simply a people’s dividend. This people’s dividend could be paid from Congress directly to the American people on a monthly basis for a temporary period of two years. The payments, which would assist with the government’s transition to a gold standard would replace much of our current welfare system and would go equally to all citizens who are eighteen years of age or older and who are not in prison, on parole or on probation. The two year time period would give Congress plenty of time for the transition as well as time to evaluate the dividend’s effectiveness.
Withdraw From Both Wars Immediately. Our nation has never been able to pay for these wars except through massive debt or massive inflation. Immediate withdrawal would save at least a trillion dollars.
Secure Our Borders. Securing our borders would relieve pressure on the social systems of state and local governments which are now asking for bailouts of their own. The Federal Government should perform its constitutionally mandated duty under Article 4, Section 4 and protect the states from invasion. All immigration, even legal immigration, should be stopped until our borders are secure and our social systems and economy are under control. Immigration laws should be enforced within the United States. This would save several hundred billion dollars per year.
Repeal All So Called Free Trade Agreements Such As NAFTA, WTO, and GATT. These agreements serve the interests of international mega corporations and foreign governments at the expense of the American people by encouraging manufacturing jobs to locate off shore. These agreements also serve to destroy small farms and small businesses in favor of those same mega corporations thus rendering the American people dependent on the whims of government for the necessities of life. This would save several hundred billion dollars per year.
Withdraw From All Foreign Alliances and International Organizations. These agreements and organizations such as the UN and NATO continually seek to destroy American sovereignty and tend to lead us into foreign wars that have little or nothing to do with the defense of America. A free and independent people should have no part in such agreements and organizations. This would save hundreds of billions of dollars per year and would allow for the rebuilding of our military for the true defense of the American people and our way of life.
Close Down Much Of The Federal Government. Many federal departments such as the Department of Education, Department of Energy, Department of Transportation, and the Department of Commerce serve no useful purpose and should be closed and their assets liquidated and returned to the US treasury. The primary effect of these departments seems to be the increase of government power and control over the lives of the American people. This would save at least several hundred billion dollars per year.
Abolish The IRS And The Income Tax. The cost saving ideas previously listed and discussed would allow for a balanced budget and the American economy would rebound very quickly. The government, then reduced to Constitutional size, could easily be funded by a small, non-punitive, tariff. There should be no direct federal tax on the American people. This would save untold amounts of money.
Repudiate All Public Debt To The Banks. Public and private debt are very different in that a private debtor voluntarily pledges his own assets, income, etc. in return for a loan and thus the creditor foregoes the use of present money in expectation of being repaid with interest. A public debtor, on the other hand, pledges other people’s future income and assets which that public debtor must take from those people by force. None of them had direct say in the making of the debt. In addition, much public debt to the banks was incurred through fraud and extortion of the kind that occurred when Congress was intimidated into voting for the bailout with threats of civil unrest and martial law. These tactics would land most people in prison if used in private business deals. Foreign governments who hold American debt should be assured of repayment and their investments should be protected as much as possible thus foreign trade could continue and government could continue to be funded. There should be plenty of money available to redeem our bonds, etc. from foreign governments and this would have the additional benefit of reducing our dependence and vulnerability to blackmail.
The Portion Of The Public Debt Owed To Other Federal Agencies Should Be Written Off. The federal government carries a large amount of debt owed to various departments of the Federal Government and this debt should be written of and stricken from the books.
If the Federal Government would take the steps outlined in this article the American economy would not only recover but would unleash a new era of innovation and production. Do Congress and the new President care enough about the American people, their lives, their families, their liberty, their security and their peace to do these things? So far the answer appears to be no, but time will tell. If the Federal Government were to take these steps, it should then back off and leave the economy alone. As someone once said, “there is no problem that government can’t make worse”. Personal and business debt would be shaken out through payment, write-offs, bankruptcy, and other methods. There would be a quick recovery and balance sheets would soon return to normal. Instead, our government has reduced interest rates to zero and will soon “stimulate” the economy with hundreds of billions of dollars of borrowed or created money which will make the problem worse, a lot worse. What happens when the government’s tactics do not work? Well, I suppose that is one reason why all those Federal troops have been assigned to Northern Command.
We all know that insulation cuts both ways: it keeps heat in and cold out (in home insulation), but it also keeps cold in and heat out (an insulated Thermos). In other words, insulation is a wall, a barrier — and it’s always non-transparent, keeping something away from something else.
With the modified bailout proposal announced today as “agreed” to by Congressional leaders of both parties, House Majority Leader Nancy Pelosi chillingly emphasized that one of the “achievements” of the modified bailout is that it “insulates Main Street, and everyday Americans, from the crisis [created by] Wall Street.”
We know for certain who’s going to feel the financial heat: the American taxpayer. Yet this proposal also leaves the American people out in the cold at the very same time, the accountability and control they get is even less than the ridiculously unaccountable original proposal.
Touted as a “breakthrough” that increases oversight, the accountability to the American people is actually decreased even more under the modified proposal by placing an impenetrable wall of insulation between the American people and Wall Street: the one’s who will really control the bailout’s execution.
This impenetrable insulation takes the form of a “Financial Oversight Board” (FOB) in the modified bill, which is a three-headed Troika of otherwise independent but Wall Street-friendly federal agencies that will operate like a Board of Directors does over a CEO, with the Secretary of the Treasury acting, in effect, as the CEO, and the FOB, like a Board of Directors, which always sets ultimate policy.
The REDUCED, rather than increased, accountability comes from two main factors. First, the only control the people had under the original proposal was the hope that the President would fire the Secretary of the Treasury for malfeasance. Because the unprecedented new Troika is made up of three independent federal agencies, so the President (the only elected person with any possibility of control) has a much harder time impacting them, and has to replace at least two of them instead of one Treasury Secretary. Canning two of these major business figures in the SEC, Fed, and FDIC would arguably shake up the markets further. Moreover, it’s questionable indeed for the President to have a “litmus test” on bailout policy for any appointee to an “independent” federal agency that is supposed to be just that – Independent.
As if Congress wants to make absolutely sure that there’s no political accountability to anyone elected by the American people, the modified bailout plan further requires that the President to have “good cause” before firing or replacing any single Troika head on the FOB hydra. Instead of serving at the pleasure of the President or at will, this good cause requirement would probably be interpreted just like the “business judgment” rule is applied to Boards of Directors in corporations.
Under normal business law principles, exercising “business judgment” in good faith is a very easy standard to meet, and it by law insulates the Board of Directors from any liability for their decisions, no matter how disastrous the results, if they were made in good faith at the time made. Thus, if a given plan has, on an overall basis, any argument in favor of it at all, it will likely pass the business judgment rule, courts won’t micro-manage the details, and the President will not have the “good cause’ necessary to fire and replace any of the heads of the Wall Street Troika. McCain, who says he wants to fire the head of the SEC, would likely be unable to muster the good cause now to be required for such a firing.
Business deregulation has generally gone hand in hand with regulatory agencies being captured by Wall Street interests, so now, in effect, Wall Street decides how much accountability Wall Street will get, thanks to the Troika and “good cause.”
And if, in a fit of conscience, this FOB nevertheless decides to rattle a few cages on Wall Street, the greedy Wall Street pirates will shiver the timbers of the markets and still have various other methods of recourse. The American people will have no recourse.
But the American people are the ones footing the bill, so they’re thrown a bone in the form of a slight equity stake akin to getting a few lottery tickets on bankrupt companies, and the American people are cut out of the deal, and can’t control what’s going on – even while they are paying for it.
At cnn.com, the poll today asks: “Has Middle America gained new clout with the fight over a financial bailout plan?” As of 3:30 pm EST Sunday, already 66% of over 22,000 voters already see through it. See www.cnn.com (right hand column) But if these votesr saw this article or the provisions of the new bailout plan in their true light, 98% of Americans would recognize not only that they’ve gained no “new clout” in the fight over the bailout plan, but that it’s left them out in the cold even more, holding the bag as usual.
The modified plan’s “Financial Oversight Board” (FOB) is just a newfangled and unprecedented FOB that pretends to add the accountability and transparency the American people require (no American can rationally want UN-accountable government), while actually making the plan even less accountable to Main Street, but much MORE accountable to Wall Street. Do we really believe that Wall Street, at this juncture especially, can watchdog itself?
Like Operation Iraqi Liberation (OIL) being changed to Operation Iraqi Freedom (OIF), I predict that if enough Americans check their dictionary for the meaning of FOB, they will change the name of the Troika as well. At dictionary.com will find FOB defined as “a small pocket just below the waistline in trousers for a watch, keys, change, etc.”
Indeed, the keys to America’s pocketbooks are being handed to an insulated Troika of Wall Street friendly insiders, who will have dictatorial control over another $700 Billion to go into Wall Street pockets in one way or another, while Wall Street and its regulatory friends purport to watchdog themselves and hold themselves accountable.
Tell everyone you can that We the People do NOT ordain and establish (the introduction to the Constitution) such nonsense like this. The solution to problems of deregulation that created the Wall Street crisis in the first place is not a deregulated bailout without accountability to the people: the ones who pay for it all, and whose authority to ever punish the offenders is being given away. This wall of insulation gives American democracy a permanent chill, and puts your keys in Wall Street’s FOB.