Solving the Economic Crisis
Congress is full of hypocrites. They all took an oath to "Support and Defend the Constitution", but they have participated in the violation of it for decades. Article I. Section 8 reads:
"The Congress shall have Power To ..... coin Money, regulate the Value thereof,..."
Thirty some yeas ago Congress participated in the unconstitutional "Floating" of the dollar and it has been sinking ever since. The "Value" of a constitutional dollar, a dollar made out of silver, that was minted before the dollar was floated, has remained constant. The "Value" of an ounce of silver has remained constant. An ounce of silver is still only worth an ounce of silver, while the dollar has shrunk in value from .7736 ounces of silver to approximately .056 of an ounce of silver. In other words where it took approximately $1.30 to buy .an ounce of silver, it takes nearly $18.00 to buy an ounce of silver as of the writing of this essay.
About six months ago at an estate sale there was some silver for sale. It was the last day of the sale so I offered $8.00 an ounce for all of the silver that was there. The market price was approximately $11.00 an ounce. The seller offered to sell it to me for $10.00 an ounce and we settled at $9.00 an ounce. My investment has nearly doubled in approximately six months, NOT BAD.
The Federal Reserve Dollar is actually unconstitutional. Article I, Section 10 reads:
No State shall.....; coin Money.....; make any Thing but gold and silver Coin a Tender in Payment of Debts;.....
But then, I am too fearful of God to make a promise to him, take an oath to do something, and then violate that oath. I guess virtually all of Congress doesn't really believe in God.
The unconstitutional Federal Reserve Note dollar is collapsing so fast that "Prices" are increasing on a daily basis now. Look at the price of gasoline. Like Nero, Congress is fiddling while the nation is going up in flames. Congress could take steps to prevent it. They could live up to their oath, their sacred promise to "Support and Defend the Constitution" including the two previously quoted provisions. I don't expect them to. The only one of them that I know of who lives up to his sacred promise is Dr. Ron Paul, house member from District 14 of Texas and candidate for President. The Republicans who voted in the primaries have rejected him in favor of one of the hypocrites from the Senate.
So what should be done? Simple, a plan needs to be carried out by Congress that may take a few years to accomplish. Hopefully, the economy won't completely collapse for enough time to carry out the plan. I have a plan that I believe will work. If you believe that the plan won't work and/or that you have a better plan, I invite you to Comment and/or send your plan to Congress.
Here is my plan:
1. Stop giving the dollars being printed by the Treasury Department to the Federal Reserve banks. It is robbing the taxpayers and lining the pockets of the Federal Reserve Bankers. The Federal Reserve banks are privately owned, not part of the government. Calling something that is private "Federal" is a deceptive practice. The "Federal" Reserve is no more part of the government than is "Federal Express" Corporation. Use the dollars to buy Gold and Silver on the market. This will cause the "Cost" (not the value) of Gold and Silver to increase, resulting in a net gain for the government (the people of the United States) as the "Cost" of Gold and Silver increases. (The "Cost" of something is not the "Value" of it. The "Value" of things, notably oil, remains fairly constant while the "Cost" increases as the "Value" of the dollar decreases.)
2. Use the Gold and Silver to mint Gold and Silver coins and sell them to the public. The Gold and Silver content of the coins would have to be the same in the newly minted coins as it was before all the stupidity of Congress' and Presidents when they passed and signed unconstitutional legislation, notably Woodrow Wilson when the Federal Reserve Act was made law in 1913
3. Begin printing dollar "Silver Certificates" and five dollar and higher "Gold Certificates" that can be used to buy the Silver and Gold coins being minted at face value. This would tend to stabilize the "cost" of Gold and Silver, thereby stabilizing the "Value" of the newly printed dollars. This is the exact answer to the economic problems we are experiencing.
4. Stop printing the worthless Federal Reserve Note dollars that are being printed. Repeal all laws that are related to the "value" of the dollar. The "Minimum Wage" law is a notable example.
5. Create legislation declaring that all Federal Reserve Notes" that were issued by the United States Government have a "Value" of the relationship of the "Cost" of Silver at the time the law goes into effect. In other words, if the first four steps had already been put into effect, the 'cost" and "value" of Federal Reserve Note dollars would take on a surrender value of approximately a 20th of a new US dollar (using the current cost of Silver as the standard). In other words, you would be able to surrender 20 Federal Reserve Notes for one new US dollar.
Of course there would be temporary economic problems created. Problems like having to change the prices of things and changing the amount of wages and salaries paid to people. They would probably disappear in a matter of, maybe, a couple of years, maybe even in a matter of a few months. Better that than waiting around for the coming economic collapse that will happen with a major collapse of the Federal Reserve Note dollars.
Pray tell me I'm wrong, that Congress will act in a way that will do what is necessary to stabilize the value of the dollar. If they don't, I am convinced that the coming economic collapse will make the "Great Depression" appear like a minor depression in comparison.
Published by Joe Btfsplk
Computer Programmer for 45 years! View profile
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13 Comments
Post a CommentJoe. It's a bit to swallow. I'm not much a gambler, but I agree with the principle that drove your pen. What do you thing about The American Care Card Legislative Initiative? Steve.
Tyler - The Supreme Court continued it's attack on justice when they decided that property could be taken from one private owner and sold to another private owner. To take someone's property for a (privately owned) shopping center is a violation of the Fifth and Fourteenth Amendments. Howeverr, taking someone's private property to build a public highway falls under the area of "Public Domain" and is constitutional. As far as "Katrina" is concerned, I take the attitude that the people who owned property that was flooded were, or should have been, well aware of the danger. None the less, typically, the government aggravated the problem. I do feel that the government should have spent a little bit of money to re-enforce the dykes to prevent the disaster. Now, let's spend a little money to build and re-enforce the dykes so that it won't happen again. In other words, I mostly agree with you.
Your point about moving Joe is valid and makes logical sense. Often times the people who are being discriminated against have set up shop somewhere-their entire operation and family is in Texas and let's say the county seizes their land which could be a farm and how they make their living. Let's then say that the people of the county are in favor of the seizure because a new shopping center, highway, whatever will provide jobs. I'm sure the farm owner would like to move, but they may or may not have the resources. This is why Katrina was such a disaster because no one took the lead, state local, federal or private sector and many of the people didn't have the means to get out of dodge.
Tyler - If you check what the founders said about "Democracy" you'll find that they called it "mob rule" or tyranny by the majority. Several of the colonies refused to ratify the new Constitution because it didn't contain protections against majorities voting away the rights of minorities. That's why they founded a (Constitutional) Republic rather than a Democracy. They were promised a "Bill of Rights" and ratified. I misunderstood you when you used the word "Federalist." What it meant when our Constitution was up for ratification is those advocating ratification. You seem to have meant, power of the federal government over States. I too oppose that sort of power. One of the beauties of our Constitution is that under it, if your State government is or becomes abusive of your rights, you can move to a State that is more to your liking. I grew up in NY but would never live there. I live in the much more libertarian state of Texas.
One of the reasons I don't trust federalism is because it puts too much power in a majority of people who oppose rights for a minority. This is through the terms of direct democracy. We've seen the destruction of gay rights, abortion rights, gun rights, school choice all through direct democracy. The majority of the people can be wrong and desperately wrong, just because they are making a decision more directly for themselves doesn't mean they can't cause tyranny.
Joe, just because someone may disagree with a portion of something doesn't mean you throw out the entire document. In business for example sometimes you take the best deal available despite the imperfections it may contain. As far as the feds making rulings that I don't like of course I am not comfortable with the way private property right and the seizing of land has been dealt with among others. As far as the idiots in Congress I am a fairly cynical person so I tend to see a lot of idiots in both the public and private sector, within state and local governments and all over the world. Just because someone is your neighbor next door and may know more about your community doesn't mean they are correct.
Tyler - I gather that you believe that the people who live crowded together in a small area like the big cities should be able to force their will on the people who live in less populated areas? I agree with the founders of this nation about democracy. If you think the ninth and tenth amendments stand in the way of the federal government ruling like dictators, perhaps you believe that we should just abolish our Constitution. It gets in the way of the tyrants that the people elect and they don't like it. We're supposed to be a a Republic where the power of the federal government is limited. If you really think that the idiots in Congress are such superior intillects, good luck. They have about destroyed the greatest nation that ever existed, at least it was until forty or fifty years ago when the tyrants decided to disregard our most sacred law. It really doesn't matter, the people have not only lost the Ninth and Tenth Amendments, we've lost the entire Bill of Rights.
d economic plan, is that cowardly? Yes. Have a good day Joe, even though you consider me the enemy.
To continue my response I am not a fan of the 9th and 10th Amendments in most cases as you would have guess. I think people will not like regulation and taxation whether it comes from the federal or state and local levels. So as I've said before I don't buy the argument that people are so worried about federal power as opposed to state and local power. We would be pissed either way. I don't think the Articles of Confederation worked, if you want to move back to that system that's fine. I do not, the Union won the Civil War and I'm glad. As you know the Civil War was not about racism and slavery as much as it was about state's rights. The world has changed and the state's rights people lost. In order to deal with the energy crisis it may be necessary to ignore the 9th and 10th Amendment anyway in order to store some of the nuclear fuel that we need along with domestic oil drilling. This is because most states do have a "not in my backyard mentality." I will not write a detaile
Tyler - I never said a word about drilling anywhere. I only noted that gasoline may reach $8.00 or $10.00 a gallon in a matter of months. I never attacked you for being an environmentalist. I would be in favor of drilling in Alaska, but would only want to do it if it done in a way that doesn't harm the environment. Evidedently, our disagreement is over the role of the federal government. I believe that they should be forced back under our Constitution, where the States of the union remain soveriegn and the federal government's power's are few and defined and States' power's are many and undefined like James Madison said in Federalist Paper # 45.
I again ask the question, "OK genius, how would you solve the economic crisis?" I havenn't heard an answer yet!