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Repeal the Federal Reserve Act. There is common historical factual evidence that:
- the Federal Reserve has caused (causes) Recessions by tightening credit too soon.
- the Federal Reserve causes "bubbles" such as the Housing Bubble of 2005-2007 which precipitated the
Great Recession of 2007-2009.
- the Federal Reserve caused the Great Depression of 1929-1941.
- Besides supporting War and Welfare, the Federal Reserve insidiously steals from citizens by maintaining a target inflation rate of 2% per annum. This means that the USD loses 2% of its buying power
annually forcing citizens to pay more each year for products.
- The greatest problem of all is the fact that CONgress must spend great sums of money to achieve many wasteful goals. There are two ways to get the money — raise taxes or sell government
Notes and Bonds (debt). If government raises taxes, citizens vote them out of office SOON. On the other hand, if government sells Notes/Bonds (debt), then the Federal Reserve buys the debt with
money-from-thin-air created by the FED that government uses to fund their wasteful projects thereby flooding the country with more worthless money and decreasing the value of the dollar which is the cause
of inflation. The best solution is:
- the U.S. government must repeal the Federal Reserve Act of 1913 and regain control of a government owned and operated
Central Bank retaining a controling 70% interest and selling the remaining 30% of shares as Common and Preferred Stock only to Citizens of the
USA, and
- The new Central Bank will control and stabilize all private banks with gold reserves stored in New York and Fort Knox, if such reserves exist,
otherwise buy gold or facillitate the transfer of gold from the International Monetary Fund (IMF) to the U.S. since gold is the money value of millenia, and
- maintain the FDIC, and
- pass a law making Fractional Reserve Banking illegal except in times of war with no limit as needed, and
- commercial banks can make loans based on their reserves. Commercial banks will be audited quarterly, and
- pass a Balanced Budget Amendment and a Term Limits Amendment to the Constitution, and
- after regaining control of the bank, new laws will require strict accountability controls over spending of every penny, and
- reorganize and downsize government to cut expenses by 50% over ten years including Civil Service Reform, elimination
of the Office of Personnel Management (OPM), the Merit Systems Protection Board (MSPB), and the Federal Labor Relations
Authority (FLRA), and
- rescind all government employee union powers forcing all union business and activities out of government buildings, and
- terminate all unproductive employees, and
- reduce national debt to a level of no more than 20% of GNP. The USA can borrow money from the Central Bank, and
- withdraw all funds from the IMF, the World Bank, and reduce financial support of the U.N. to 10%, and
- prevent all attempt by any and all private bankers to create a New World Order controlled by bankers such as Bretton Woods.
America had very little inflation before the Federal Reserve (chart above), the real Robber Barons called Banksters (gangsters).
Article V, Convention of States can repeal and replace the Federal Reserve Act and Banking Structure.
Restore the Gold Standard reflecting today's value and controled by the U.S. Central Bank. FDR's administration confiscated all gold and made individual gold ownership illegal domestically in 1933.
See Executive Order 6102. Nixon in 1971 refused to redeem dollars in gold internationally thereby ending
Bretton-Woods. Nixon created the petrodollar system which eventually resulted in most international financial transactions conducted in USD. Reestablishing a Gold Standard
may end the petrodollar system. The limitation on gold ownership in the U.S. was repealed after President Gerald Ford signed a bill legalizing private ownership of gold coins, bars and certificates by an
act of Congress codified in Pub.L. 93–373 which went into effect December 31, 1974.
The U.S.'s oil supply is no longer depleted as it was in 1971-1974. However, the fact that most international financial transactions occur in USD is a powerful advantage for the U.S. Other foreign countries
may convert to their own version of the gold standard or not. The FED provides government the facility to borrow money for our current War/Welfare State. The Gold Standard was too restrictive for Progressives
who wanted more money-from-thin-air ("rubber bucks") to wage wars and provide for the Socialist dole in AmeriKa and the world.
Repeal the 16th Amendment (income tax), disband the IRS and rely on excises and user fees both domestically and
internationally. If more revenue is required, establish a sales tax (not a VAT) with rate no greater than 10% only for additional revenue and reguiring a public referendum of all voters to increase the tax
percentage. Further, the U.S. could establish a directly apportioned income tax that targets debt reduction only until national debt levels are reduced to no more thatn 20% of GDP. Then the tax would be
repealed (for a change).
America's first Progressive Era, 1894-1914, influenced by Karl Marx and Socialists in Europe, drastically changed AmeriKa and began altering the general thought of citizens. The Great
Industrialists (negatively assigned the derisive moniker "Robber Barons") built the United States of America into the greatest financial and industrial country in the world. The Progressives and Spiteful Socialists became very envious and wanted a method to legally steal from the America's
wealthy people — not just the very rich but anyone who EARNED monies greater than, say, $2,000 per annum (lot of money in 1895).
Editor's Note: The populace went overboard to the extreme in 1890-1913 when Progressives (Socialists) spearheaded by two presidents — Theodore Roosevelt and especially Woodrow Wilson both who
regularly violated Executive Branch Constitutional limits. CONgress submitted a Resolution in 1909 proposing the 16th Amendment to the Constitution, passed the resolution, and forwarded to States (read income tax
history here).
Article V, Convention of States can repeal and replace the 16th Amendment.
SEE FAIRtax.
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