The Problem: A Government That Borrows Is No Longer A Valid Government
Napoleon Bonaparte said:
“The hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency: their sole object is gain.”
In other words, if a government borrows then it is no longer a valid government since it has given up its sovereignty to whoever it borrows from.
This is a major failing of the US Constitution which gives Congress in Article 1, Section 8 the power:
“To borrow Money on the credit of the United States;”
Thomas Jefferson wished he could fix this:
“I wish it were possible to obtain a single amendment to our Constitution… I mean an additional article taking from the Federal Government the power of borrowing.”
Thomas Jefferson to John Taylor, 1798. ME 10:64
A Solution: Any Politician That Causes Government Borrowing Is Guilty Of Treason
One solution to this which doesn’t involve passing any Amendment or even passing any new laws is to simply observe that even though the Constitution gives the power to borrow, it doesn’t say anything about who it’s allowed to borrow from.
What it does say is that treason is illegal. In Article 3 Section 3 it states:
“Treason against the United States, shall consist only in levying War against them, or in adhering to their Enemies, giving them Aid and Comfort.”
In other words, anyone who gives aid and comfort to the enemies of the United States is guilty of treason.
Now, consider what would have happened in WWII if Roosevelt had procured a loan from Hitler and promised to pay the Nazis 5% a year. People would have had a conniption, he would have been guilty of treason for having become indebted to our enemy at that time and therefore subservient to them.
In the current US financial system, the US must sell bonds and pay interest on those bonds in order to obtain dollars.
The US is always at war with someone, so if we want to get rid of government borrowing all we’d have to do is see if any of the POWs we’ve captured own US bonds. If so then then whoever was the head of the Treasury at the time that bond was issued should be charged with Treason for having aided our enemies in time of war.
Therefore, the problem of government borrowing could be eliminated by the court system alone without any new laws. As soon as the politicians see that it’s their neck in the wringer if any enemy of the US get his or her grubby hands on a US bond, then the US will stop issuing bonds and be forced to finally go back to debt-free money which is the solution that history has proven works the best.
Reply From David:
Keep in mind that Federal debt is only part of the problem. Fractional reserve counterfeit lending for private gain still has a grip over state and municipal governments as well as as individuals and corporations. A step in the right direction though; the people need to understand NEVER to support a representative who agrees to borrow on their behalf.
Yes, and the same approach with the courts can be used to eliminate fractional reserve banking since Article 1 Section 8 states:
“To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;”
.. and then the very next line is about counterfeiting:
“To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;”
Fractional reserve banking IS counterfeiting because it’s the creation of money outside the people’s control. It should be treated as such. So a strict reading of the Constitution is that only 100% reserve banking is really legal.
Therefore, banks can be hauled into court for counterfeit right now. All we need are jurors who are aware of how the banking scam works. (Easier said than done.)
Reply From Dolittle
We need to promote public awareness of the demand for a debt free sovereign currency which is really a demand to return to national sovereignty.
Absolutely. Both Jefferson and Washington warned repeatedly about avoiding “foreign entanglements” and that’s impossible when our debt is spread all over the globe.
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