US Treasury Notes
I heard Richard Heinberg of The Post Carbon Institute
(on Jason Bradford’s "Reality Report": http://globalpublicmedia.com/reality_report_talking_with_richard_heinberg_about_the_green_new_deal)
speak of the US Treasury’s Constitutional option to print money.
He said that it’s been done twice in US history: once by Lincoln and then by Kennedy.
I’d like to hear more about this,
•references to actual Consitutional options,
• discussion if this is a possible route out of the current Fed Res debacle
• history of the exercise of this option
the history i know about it is lincoln printed the greenback because he had to to finance the civil war. most dont know but the powers that be in europe were getting ready to carve up the u.s. they told him they would lend him the money to run the war at oh say 30% interest. he said no thanks and started printing his own………greenbacks
kennedy signed an executive order and started printing money.
both got bullets to the head.
lbj’s first act as president was to rescind kennedy’s ex. order
anybody want to try to end the fed?
For the strongest understanding of the relationships between Monetary Theory, the US Constitution, and the monetary history and current state of America, I highly recommend reading ANYTHING by the Constitutional lawyer Dr. Edwin Vieira, Jr. PhD, J.D., who has argued cases before the US Supreme Court:
He has 2 highly recommended books (as well as any of his articles):
- "Pieces of Eight" and
- "CRA$HMAKER" (under a nom de plume).
He holds 4 Harvard degrees, including a PhD and J.D. (won’t hold that against him….), and through his 30-year legal practice, has successfully argued and presented before the US Supreme court in several cases (Abood v Detroit BOE, Chicago Teachers Union v Hudson, and Communications Workers of America v Beck), all of which produced landmark case law.
He is a staunch advocate of gold and silver, as per Article I of the Constitution, has an extremely thorough understanding of the Central Banking and fiat currency concept, and can be seen on several popular "honest money" videos, like "Fiat Empire", "The Creature from Jekyll Island" and others.
Finally, he has correctly predicted both the long-term economic and political consequences of America’s "experiment" with fractional-reserve Banking, private issuance of the country’s currency, and it’s currency status as being irredeemable in gold and silver.
His personal website http://www.edwinvieira.com/ is a place to start, but I would also highly recommend the associated sites:
The history of the United States is entangled with the roots of private Central Banking, from Europe. While America won it’s political independence from England, it never escaped it’s economic grasp from Central Banking and fiat currency.
It is probably not a stretch, to put the battle for control of America’s currency, as the center of the Revolutionary War, War of 1812, Civil War and on and on.
President Andrew Jackson made it the hallmark of his administration. His farewell address of 1837, (which I have earlier posted on this site), could be read as if generated today, regarding the battle between he and the "first" US Central Bank (an earlier version of the Federal Reserve). He felt it so important, and central to the freedom of the United States, that he had his tombstone engraved with "I BEAT THE BANK"
For an understanding of what we are experiencing today, both in an economic sense, as well as it’s impact upon our politics and personal liberties, it is necessary to grasp the nature of our economic and monetary history. You cannot divorce the economics and monetary underpinnings from the ultimate political reality.
The Founding Fathers did NOT want to have the "3 Dangerous Mechanisms" of Europe’s monetary history, to be a part of America.
The last 200+ years in the following events, all have been impacted –
- The conflicts and arguments in the first Constitutional Convention on the monetary basis for America;
- The battle between Andrew Jackson and the First US Central Bank;
- The Civil War and Lincoln’s direct issuance of paper money from the US Treasury, including the subsequent bankruptcy of America, and agreement to allow European banking systems to "restart"
- Woodrow Wilson’s creation of the Federal Reserve and IRS;
- FDR’s confiscation of gold and declaration of US Bankruptcy during "Depression I";
- Nixon’s closing of the gold window in 1971 to pay for US war and entitlement debts; and
- The "Credit Crisis" meltdown of today –
They are all related, in that they all, to a more or less degree, required adoption of the "3 Dangerous Mechanisms" below:
1) Fractional-reserve Banking
2) Private Banks issuing the currency of the Nation
3) Irredeemable paper-currencies (fiat currencies not backed by gold or silver)
The combination of the 3 was the ultimate "wealth transfer" seed planted into the economics and politics of America, and that is the state of what we have today, in the Federal Reserve issuing "Federal Reserve Notes" ($USD’s), backed only by the gun of government (i.e., "legal tender" requirement for their use), rather than a following of the US Constitution, Article I, Sections 8 & 10.
I too wonder about the possibility of "United States Notes":
as a tool in the new administration’s belt.
You mentioned that kennedy and Lincoln both issued these notes, but my reading suggests that Kennedy’s executive order involved the priting of new Silver Certificates — which are different from these notes.
Perhaps the biggest failing of modern governments is in making their citizens pay for a means to trade – through currency schemes. Most nations have copied the centuries old British model that licenses a private central bank to issue and control their currency – at a profit that is usury in scale and scope.
Any nation that subjugates it’s people to a central banking scheme is in effect, becoming a "client-state" of that non-government entity. In our case, the Federal Reserve Bank, like other central banks, controls our national monetary policy by regulating the supply of our currency and the prevailing rate of interest.
This is why our founding fathers were so emphatic in warning us about central banks. They knew that with the loss of monetary sovereignty, all rights, freedoms and prosperity would soon disappear. I think it is fair to state that America is no longer a Republic and no longer in hold of its charted destiny – rest assured, we are already enslaved under debt that we can never repay.
It is incredible, but true, that our nation has quietly acquiesced to monetary tyranny. Every new born American is enslaved with debt as part of the natural citizenship process. The central banks are the wealthiest entities on the planet, they buy and sell our politicians and policy makers in their standard course of business. It has been estimated (I can’t substantiate this) that the Rothschild family, one of the owners and prime controllers of central banks, owns as much as half the wealth of the planet.
We don’t have to accept this tyranny. We are free to abolish the Fed and all the corruption they bring to our nation. It would not be easy but the truth is stronger than any military or corruption.
Thank you for the informative responses.
Some interesting links that will keep me busy for awhile.