Published On: Mon, Jan 10th, 2011

Welcome to the Machine – Liberty Today

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Welcome to the Machine


“That this liberal, progressive, socialist agenda… This left-wing, vile, vicious, despicable machine that’s out there is soundly brought to its knees.” – Allen West


Newly-minted Congressman Allen West wants to bring this “vile, vicious, despicable machine” to its knees. What liberty-loving, freedom oriented American doesn’t? What took 100 years of ‘progressive’ legislation will not be brought down overnight. Where to start?

As Larry Elders recently wrote:

“Accept the political reality that (a) taxes cannot be raised, and (b) entitlement spending (Social Security, Medicare, Medicaid) cannot be cut for current or near-future beneficiaries. Voters will not vote to raise their taxes. Voters will not vote to cut off their money. And politicians want votes.” Accept for the moment that Larry is correct about his tax and spend paradox, that voting Americans are irrational enough to demand European-style social benefits and still expect a low-tax environment. How then to stop the socialist agenda and restore fiscal discipline to our Federal government?

Turn off the presses. Let the people decide what they want to use as money by repealing the Federal Reserve Act of 1913 and all subsequent legal tender laws.

According to the “Legal Tender Statute” (section 5103 of title 31 of the U.S. Code), “United States coins and currency (including Federal Reserve notes and circulating notes of Federal Reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues.” These laws force Americans to accept inflatable paper money, created from nothing, with an intrinsic value of zero, as payment for their intrinsically valuable goods and labors.

USC Article 1 Section 8 gives Congress the power.

“To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures” Congress has delegated this power to a small group of powerful bankers who create ‘money’ from nothing with little or no regulatory oversight of its quantity or value.

As President Thomas Jefferson predicted in 1809: “I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” (The debate over the Recharter of the Bank Bill).

Jefferson got his way, and 100 years of prosperity followed. By 1909, the American peoples’ savings bought twice the goods and services they could in 1809 (50% price deflation). Since the Federal Reserve Act of 1913, Americans’ savings now buy less than 5% of the goods and services their dollar commanded less than 100 years ago (massive price inflation), and middle class America is all but non-existent. Every day hard-working Americans are losing their homes and savings at record rates, many waking up “homeless on the continent their fathers conquered”.

Now, with Ron Paul as incoming Chairman of the House Financial Services subcommittee on monetary policy, the hopelessly corrupt organization that is the Federal Reserve System will come under more open and detailed scrutiny than ever before. As the American people come to understand what these intergenerational monetary elite have been doing with our hard-earned money, perhaps there will be a more conducive environment for repeal of fiat currency laws and passing legislation such as the Competition in Currency Act.

As Margaret Thatcher observed, “The trouble with socialism is that eventually you run out of other people’s money”. What if ‘we the people’ simply change the definition?

Read more of this article here: http://www.nolanchart.com/article8242.html

Read more of this article here: http://www.nolanchart.com/article8242.html

For all of Larry Warrick’s articles on Examiner: http://www.examiner.com/x-53966-MiamiDade-County-Libertarian-Examiner

Larry’s “Nolan Chart” blog can be found here: http://www.nolanchart.com/author87.html

…. Obama was in India the other day visiting our jobs and than he went to China to visit our money – Jay Leno

(see many other Jay Leno quotes here)

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