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Bill, Well, this is me again, and, I wanted to take time in another comment... more »
Bill, Well, this is me again, and, I wanted to take time in another comment posting, outlining, to you, what I think, MIGHT work, with regards to the relationship between Our Central Bank System, the FED, and our Government. I hope that, if you DO read this, then maybe, a conversation CAN get started, with regards to how I think our interaction with the Bank CAN work better, WITHOUT Our Government, (meaning US, in representative form) having to be IN DEBT, to have a monetary system, while at the same time, letting a DEBT-BASED monetary system Function, WITH a CENTRAL BANK, AND an IRS working....Now, I've posted this idea, in various versions, in places all over the web, and if you google my Handle, "KAPT BLASTO," you'll find a version or two, (maybe three!) of my thoughts about the following concept, listed within Google's listings...at least, I hope you'll will.You see, from time immemorial, every time a Government has used a Central Bank System, they always seem to fail, after even long periods of time, because the FIRST action a Government takes is to BORROW from the Bank, to have a monetary circulation going.Now, whether it's at the suggestion of Bankers, (that supposedly fit their schemes, according to some), or, whether it fits the overall scheme of a Government, to be in a state of indebtedness, to justify TAXATION at the point of INCOME/Transactions, to, either, "Pay DOWN" the Debt owed to the Bank, and to Holders of whatever IOU the Governments issue, or, justify instilling EQUALITY (at least at a Basic level) within all their citizens, that, "Everyone HAS TO PAY SOMETHING to Government, or Do Something to get out of paying (Tax Deductions)" to pay, somehow for services rendered for the People....Whether it's at the Suggestion of Bankers, or at the figurings of Government...is a kind of Chicken-or-the-egg Question, when...you take into account the LOAN PROCESS, that moves money, in a DEBT-BASED ECONOMY, from one CENTRALLY-CREATED POINT...outward, through the Banking Centers, into people's Hands so that it circulates around.And you further take into account, RIDERS, that increases PRINCIPAL (and in a lot of cases, INTEREST,) agreed to be Owed by that Borrower, that must pay it back up the line, toward that centrally created point, with, The most common RIDER that gets put into the LOAN processes are Banker's INSURANCE Premiums, that covers the LOAN should it go bad, or default, or TOXIC, somehow, that, gets tacked onto the Principal, that Borrower agrees to pay back, on top of, Whatever the Borrower is asking to borrow to SPEND AROUND, or, Consume.What would happen if, instead of trying to take TAXES out of INCOMES being earned, as it were...we tack RIDERS onto PRINCIPALS being borrowed from? And we do it in a way, where the IRS, stops becoming the HATED ENTITY that people Love to Hate so much, but becomes THE HERO that provides the DEDUCTIONS that people can "BANK UP" and trade around, so that whenever People DO GO DEFAULT on their Loans, or their Credit extensions, they have "BANKED UP" these deductions that could offset the defaulted loan that MUST BE PAID, because the IRS, is the Backup Collector for the Banks, when their loan collection attempts fail.And we start the whole thing from the TOP LEVEL, with the interaction between the Central Bank and the GOVT... because we KNOW that for ANY NEW MONEY to come online to circulate, GOVT must interact with "An other" that can be legally recognized as being APART from GOVT...to FIRST have that money Created, and then it's that OTHER that MUST be the DISTRIBUTOR of that Money...It's a very little understood CHECK-AND-BALANCE Measure, that I don't think those in the TEA PARTY, or even the Larger Patriot Community, seems to Grasp right,(or, perhaps, those on either SIDE of the Aisle, as well) when THEY look at the whole situation between Our BANK, and our GOVERNMENT... ....that works between COINAGE ACT, (or FED ACT, if you will,) and, what they THINK they're seeing of US CONST. Art1, Sec8, Cls5, working along with the Basket Clause, and they're all working hand in hand, through this VERY SIMPLE Process that I outlined above....I'm sorry this comment is so L-O-N-G, and you'll have to forgive me, I hope, as I go into a bit of history, with you, that you probably already know, but Other Reader of this comment might NOT.See, after the collapse of the Continental Currency, (thank you to British Revolutionary War Efforts Counterfeiting it) People were seeing all the OTHER CURRENCIES that were circulating around, made of GOLD and SILVER, and they thought they ought to have a "HARD CURRENCY" like the foreign currency that was circulating around as well, because the GOLD or SILVER couldn't BE Counterfeited...Well, Congress saw that they HAD THE POWER under Constitutional rules, to "Coin Money, regulate the Value thereof, and of Foreign coin, and to [affix] the Various weights and Measures" But after the Continental Currency Collapse, AND seeing as Counterfeiters could just print phony money and spend it into circulation (utterance...) What's to make the people TRUST any NEW CURRENCY replacing the Continental, spent into circulation by the New Congress, could have any more weight than the phony money circulating, let alone, any of the FOREIGN currency, that even the BANKS were legally (AND honestly, relatively speaking...) distributing-by-lending, even with the USURY (injurious interest)?So as a Check-and-Balance Measure put on ITSELF, Government (Congress, Proper) decided to go INITIALLY with Jefferson's idea, which kind of went like this: "THOSE OF YOU WHO HAVE GOLD or SILVER, AND WANT TO HAVE A *DOMESTIC* CURRENCY to CIRCULATE IN THIS COUNTRY...Bring your GOLD and SILVER TO THE MINT, and WE SHALL FASHION COINS FOR YOU to _TAKE FROM US_ and _YOU_ SPEND IT (or LEND IT) into Circulation. For every 273.25 grains of SILVER THAT YOU BRING IN TO US, for US TO PROCESS FOR YOU, YOU WILL RECEIVE A 416 grain SILVER-ALLOYED-WITH-BASER-METAL COIN that Will be declared ONE DOLLAR of *DOMESTIC* CURRENCY for you to have and Circulate.And for 1/15th the amount of grains of SILVER that you bring in GOLD, we fashion for you a SMALLER COIN and that as WELL will be declared $1 of *DOMESTIC* Currency for you to take from us, and Circulate."That is the basic Coinage act rule, that I know, Bill. And It satisfied the little known Check-and-Balance rule that I outlined above. It's so that ANY NON-INVOLVED-IN-PROCESS-THIRD-PARTY, receiving that COIN (or Currency) can be assured of TWO THINGS:One: that neither the GOV'T, nor the OTHER involved in the process, debauched, counterfeited, or, in any way, UTTERED the Currency that the Non-Involved Third Party now holds...and,Two: that the currency held is a Piece of LAW that can be circulated AS CURRENCY, in it's FULL FACE VALUE, Anywhere under the Government's Jurisdiction. Well, it would have worked, and it worked GREAT on PAPER.except for a a TON OF PROBLEMS within the Economic sphere, which, boiled down, amounted to....Never enough Gold or Silver coming in to satisfy the seignorage amount Government wanted, to fulfill the revenue supply that Government wanted to sustain itself. However...it still remains in some form on the books, as the ONLY WAY someone could have DOMESTIC CURRENCY to circulate in the Economy.Even with the 16th Amendment knocking out the Posted INDIRECT way of TAXATION (Population Count TAX, administered by the States, for the Federal) the 16th Amendment STILL remains an "INDIRECT FOREIGN EXCISE TAX"Because with the Coinage Act STILL on the Books, as the ONLY WAY someone can possibly GET DOMESTIC CURRENCY...It renders EVERY OTHER WAY that someone can have currency to circulate, even ways CONGRESS devises, as "NOT DOMESTIC," because the COINAGE ACT is STILL ON THE BOOKS, and no OTHER WAY has been ELEVATED to REPLACE, or SHARE the "DOMESTIC" STATUS.That means even STATE MINTS taking in Gold or Silver to fashion COINS for people to circulate, Congress can treat and regard THAT CIRCULATION, LEGALLY, just as "FOREIGN" to them, as holding a "Euro" or "Peso" would be to you!And therefore, ALSO subject to the "INDIRECT FOREIGN EXCISE TAX" that the 16th Amendment IS.As well as the DOMESTICALLY CREATED FEDERAL RESERVE NOTE CURRENCY...Congress can LEGALLY treat that, for legislation purposes, as "FOREIGN" as well...And because you VOLUNTARILY USE that CURRENCY (well, as if you really HAD a Choice), then, by design, you're VOLUNTARILY Subjecting yourself to the "Indirect Foreign Excise Tax" which can tax you on your DOMESTIC AND FOREIGN (to Congress' scope, not yours...) currencies...Ok, I have to break this comment off to get to what I think might be the CRUCIAL PART of what I was trying to get to, before I segued into a miniature walk through the history pages...Once Again, Bill, thanks for giving me space here, and I hope to continue. :-)-Kapt Blasto.
Bill, It's been about a year or so, since I last made comment here...Look:... more »
Bill, It's been about a year or so, since I last made comment here...Look: If the 14th Amendment, Section 4, basically says that the Validity of the Public Debt of the United States *shall not be questioned* (apparently, by anyone!)Then if it cannot be questioned when a Debtholder HOLDS the Debt, to make Government fulfill the Promises contained....Then that validity cannot be questioned, either, when Holder PRESENTS the Piece of Debt BACK to the Treasury that Issued that Piece of Debt, as a PAYMENT for something that Government could Offer that Holder......or, as a DOWNPAYMENT.If there are Laws on the Books, or procedures, or regulations, that taken as a whole, inhibits the Bondholder from doing this supposed maneuver to get something that might work for them BETTER, (and, Better for US, Tax-wise, AND, maybe REVENUE-wise)...Then that condition is basically a Violation of Am14,Sec4...EVEN IF, making condtions to keep Debtholders Holding that Bond, achieves a monetary purpose.If We use "Fractional Reserve" in our "Private-Side" Central Bank, OUR Federal Reserve, where, when Notes, either deposited from Member Banks, (or "Bought up" by the Central, depending on how you want to look at it) can be declared a Multiple of what the Note is Worth, so that with a Series of these "arms-extended" notes, can have ANOTHER Layer of Notes extended out on top of THEM, (kind of like a Human Pyramid/Silo, or "house of Cards," as some put it,) ...and they're all built on top of Treasury Certificates, (which, themselves, is GOV DEBT Issuances.) and the whole idea is to have the returning money from the "Private-side" trickle down through the Notes, to those Awaiting T-Certs, to always be paying THEM...Then my question is, WHY CAN'T THAT BE Depositor money, in the Form of a CD, or, if you can imagine, a kind of "quasi-" Treasury Certificate, where, today's Bondholder, that could turn into Tomorrow's CD/"Quasi-" TC-Held-at-the-Fed-and-elsewheres Holder, could get all that Interest Money, JUST AS TAX FREE, as what waiting on the BOND/TBill YIELDS would have been.And, also this Bondholder, which TODAY, deals with the BONDMARKET, could TOMORROW, be dealing with a "CD-Share" Market, and the Sale of Shares of that CD held, could be JUST AS TAX-FREE as the Maturity being waited upon by the Bondholder, now...Bill, this is NOT ALL of the Pieces to the puzzle, as I'm sure you'd agree, but at least this might get you thinking in the best "Third-WAY" direction, that I don't think ANYONE ELSE has the stones to even try, when calls to "think outside the box" need to get done...And I could pretty much guess, that maybe you don't like me, too much...Well, you ain't no picnic, either. But I'm willing to try working with you, in SOME capacity, somehow, if it's for nothing else but to clean floors. (errgh...) Or to talk about the weather...Or at least, to get you to try a slice of my Mrs. "soon-to-be-World-Famous" Carrot Cake, that In my humble opinion...is the best D-MN Carrot Cake in all of the US of A.Look, we have all the components we need to get rid of the National Debt, EASILY...FASTER...and CLEANER through using the SAME PROCESSESS, except, just a little differently, to achieve results that right now, seem IMPOSSIBLE.If Rosa Parks can say to a white guy wanting her bus seat, "Get your own Seat, Bub, I'm Tired, and I ain't getting up for you..."And Martin Luther King, can tell you HIS DREAM...and EVERYONE LIKES IT...Then WHY Can't we let our Central BANK, BE A BANK, with depositor's Money?And why can't we get rid of our debt, using the SAME kind of loan process, this time with Treasury playing would-be creditor, (with terms that would Guarantee that no Bondholder-turn-CD Holder would have to pay a CENT out of pocket, to pay upon the "loan,")There is no mystery to the Federal Reserve. It's a BANK, and a BANK is a BANK is a BANK. It makes money from the difference of the interest rate they Charge Borrowers, and the Interest rate they pay Depositors.I don't know what else I can say here, but, I do have MORE to add, but, seeing as this is a L-O-N-G Comment, I'm sure you'd agree that it has to be cut off, somewhere.Thank you for reading this comment, if you have, (I hope.) and, I hope to be putting more somewhere, maybe on FB.Thank you once again,-Kapt Blasto.
I have an idea, Bill:Instead of Government "paying Down" the national... more »
I have an idea, Bill:Instead of Government "paying Down" the national debt...why not let Bondholders, looking to purchase a COD held at Federal Reserve, that could give them 5 times the rate of return than the yields could give them, also TAX FREE...Why not let Bondholders come and take out a loan from Treasury for it, and use the Bonds themselves as DOWNPAYMENT?As long as COD held in FED...no principal payments must BONDHOLDER-turned-COD holder pay...Hope your interested...because more details on the QUICKEST way to take HALF THE NATIONAL DEBT off the books, AND SAVE SOCIAL SECURITY...given upon your reply! :-)Till then, Bill:Kapt Blasto Look for me on FB :-)
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