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+ CMRE - 2013 There is no remembrance of former things Solomon.

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Presentation on theme: "+ CMRE - 2013 There is no remembrance of former things Solomon."— Presentation transcript:

1 + CMRE There is no remembrance of former things Solomon

2 + Fiat Currency is the Constitutional Elephant in the Room 1. There’s a Constitutional Elephant in the Room 2. That Elephant is the Federal Reserve Note 3. The use of FRNs has created environmental stresses which lead to: a. Government Tyranny b. Over-criminalization c. Increased levels of crime d. Child abuse e. Divorce Tom Selgas, United States Bill of Rights Foundation

3 + Problems created by the “Continental” fiat currency “Blood running in the streets. Mobs of rioters and demonstrators threatening banks and legislators. Looting of shop and home. Credit ruined. Strikes and unemployment. Trade and distribution paralyzed. Shortages of food. Bankruptcies everywhere. Court dockets overloaded. Kidnappings for heavy ransom. Sexual perversion, drunkenness, lawlessness rampant. George Washington correspondence to James Madison 1786

4 + Tender Laws Operate to Destroy and Dissolve Society "The laws of a country ought to be the standard of equity and calculated to impress on the minds of the people the moral as well as the legal obligations of political justice. But tender laws, of any kind, operate to destroy morality, and to dissolve by the pretense of law what ought to be the principle of law to support, reciprocal justice between man and man; and the punishment of a member who should move for such a law ought to be DEATH.” If anything had or could have a value equal to gold and silver, it would require no tender law; and if it had not that value it ought not to have such a law; and, therefore, all tender laws are tyrannical and unjust and calculated to support fraud and oppression. Thomas Pain – On Paper Money 1786

5 + The Constitution Prohibits Fiat-Currency Since the federal constitution has removed all danger of our having a paper tender, our trade advanced fifty percent. Our moneyed people can trust their cash and have brought their coin into circulation. Benjamin Franklin, Publisher and Signer of the Constitution of the United States The Pennsylvania Gazette, December 16, 1789

6 Cycle of Decline StressHealth Healthy Tree Stresses Death Tree Death Income Tax Redistribution of Wealth Inflation Healthy Society Fiat-Currency Stresses Social Dysfunction Society Dies Decline Tree Decline Fraud Empty TaxesUndesired Effects

7 + Fiat-Currency facilitates Empty Taxes An empty tax is a tax that has a negative return on investment for the person who pays it. Not all taxes have a negative impact on the taxpayer. Taxes that do not return value to taxpayers’ lives are empty taxes, which cause social dysfunction by sapping resources and undermining the productivity of worker. Sam Bryant – Income Tax Causes Crimes, 2008

8 + The Empty Taxes of Fiat-Currency Income Tax is an empty tax Income Tax purposes: 1. Control Inflation 2. Transfer wealth through interest payments 3. Modify societal behavior 4. Redistribute wealth for votes Inflation is an empty hidden tax Inflation’s purposes: 1. Transfer wealth 2. Create fictitious gains to generate fraudulent revenue 3. Make people feel good while they are being defrauded Tom Selgas, United States Bill of Rights Foundation

9 Stock=# Lawful Money $ $ 1, = =# Egg Cartons (Brown Eggs) = ~5,424 # Legal Tender $ $1, = U.S. Silver Certificate No Lawful Money Available = ~4,266 “$4,884” Fed. Res. Bank Note = $ 2, = ~6,571 “$30, ” Fed. Res. Bank Note = What is the effect of using fiat-currency? Shares IBM Stock Shares IBM Stock after splits Shares IBM Stock after splits IBM Stock Splits: [5:4], [3:2], [2:1], May 29, 1973 [5:4], Jun 1, 1979 [4:1], May 28, 1997 [2:1], May 27, 1999 [2:1]

10 Buy 1962 Sell 2007 IBM Stock 17% Gain in Eggs Cartons Tax Due ~172 Egg Cartons 17% Lawful Money Gain Tax Due $ Federal Reserve Note “94% Gain” of $28,559 Alleged Tax Due (15%) ~FRN$ FRN Inflation results in a 83% tax rate or $ of the $ of the purported gain After FRN Tax results in a Physical Egg Carton Tax of 923 Cartons of Eggs Stock $ 1, = = $ 2, =# Lawful Money $ The purported Federal Reserve Note “Gain” is actually a “quiet theft” in that it results in an 83% tax rate with the perception of 15% tax rate. = = ~5,424 ~6,571 =# Egg Cartons (Brown Eggs) IBM Stock $1, “$30, ” = # Legal Tender $ U.S. Silver Certificate Fed. Res. Bank Note = Quiet Theft!

11 + Gold Commission Rpt. Public Law “In addition to the compelling economic case for the gold standard, a case buttressed by both historical and theoretical arguments, there is a compelling argument based upon the Constitution. The present monetary arrangements of the United States are unconstitutional -- even anti-constitutional-- from top to bottom.” (vol II, pg. 243) Dr. Edwin Vieira, Jr. contribution to the Gold Commission, 1982.

12 + What are we to do? Start using the alternative gold and silver monetary system Congress enacted in 1985, especially for long term contracts. Learn how to use enforceable gold-clause contracts. Asks your State legislators to enact laws, pursuant to its duty under Art. I, Sec. 10 of the Constitution, to make nothing but gold and silver a tender in the payment of debts. Tom Selgas, United States Bill of Rights Foundation


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