- The first is the repeal of the Federal Reserve act of 1913. We must have a sound monetary system based on law. Unfortunately many Americans still do not understand that the Federal Reserve System is a private central bank. We do not even know all of the owners of the Fed.
- The second step is the repeal of the Sixteenth Amendment, ratified in 1913, and the subsequent Revenue Act of 1913 allowing Congress to levy an income tax.
- The third step is to have a good tariff law. That means when foreign goods come across our borders they must carry our labor rate. This will help bring jobs (production) back to the U.S. Free trade is not fair trade. When we accept cheap foreign goods we in effect lower our labor rate below our standard of living.
- The fourth step is to secure our borders and our ports of entry.
- The fifth major step is to correctly value production by insisting that the production of our raw materials is debt free (sustainable.) Then, as the late Carl H. Wilken documented to Congress, our free market economy can operate in balance.
The Federal Reserve Banking System administers a monopoly over money in the United States of America. This was not always the case.
Before 1913, many banks issued money in the United States of America. It was precisely this free market money competition that prevented individual banks from going too far with fractional reserve lending and other dubious banking practices.
Whenever any individual risk-taking bank created too much money (credit) relative to their reserves, they became vulnerable to any other bank that accumulated a respectable amount of that money (credit). All it took then was a demand for liquidity (cashing in) that exceeded the reserves to collapse the risk-taking bank.
The Federal Reserve Banking System now mediates all demands for liquidity upon bank reserves and allows large amounts of money (credit) to be created relative to reserves. All of this money (credit) created by ledger entries is lent to the United States of America and the debt is payed by taxpayers.
The United States is fully capable of issuing its own money without borrowing anything from any private bank. The real issue revolves around enabling a huge debt and obligating United States of America taxpayers to the debt.
Their monopoly over money combined with the tax laws in the United States of America ensures economic slavery of all taxpayers by federal law.
The ability to use the least expensive global labor markets and move the products across national borders without compensating tariffs, to sell them in the highest priced retail markets, proves to be tremendously profitable. These profits are guaranteed by the restriction of both the natural movement of labor to better conditions and the natural movement of customers to cheaper markets by national borders.
This gross imbalance that creates tremendous profits for a minority monopoly, protected by national governments, is possible only by binding customers to debt servitude. Inexpensive foreign products only benefit those who lend you the credit you need to buy them because you can no longer find a high paying job.
The money monopoly granted to the Federal Reserve System seems well complimented by the government violence monopoly. Many feel, as do I, that the Second Amendment to the United States Constitution intended to prevent a government violence monopoly.
If only Thomas Jefferson and James Madison had prevailed over John Adams and Alexander Hamilton while creating the United States of America’s Bill of Rights. Then we would have had 12 rights originally clearly specified, not 10, including:
“freedom from a permanent military
(and)
monopolies in commerce.”
Now we can have great wealth concentrated in the hands of the few, operating monopolies in commerce fully endorsed and protected by the greatest permanent military force the history of the world.
Former Supreme Court Justice Louis D. Brandeis said,
“We can have democracy in this country, or we can have great wealth concentrated in the hands of the few, but we can’t have both.”
The cards seem stacked against new small businesses by the rules and regulations codified into law designed to protect established monopolies. The system appears designed to deter and prevent small businesses from achieving success.
We do not have a democratic system capable of responding positively to voter concerns. All 3 branches of government now consistently act to benefit entrenched monopolistic transnational corporations.
However, the system is not broken. This is how large democratic regulatory-welfare states are supposed to work.
