Archive for the ‘Take Legislative Action’ Category

Coming Soon: Sunday Bloody Sunday-Video

August 16, 2009

Fortunately, it will be a lot more difficult to deploy the bastards here. We’re ready.

www.youtube.com/watch?v=fs_2QRCEtl0

Audio: Ronald Reagan Speaks Out Against Socialized Medicine – circa 1961

August 15, 2009

Though Ron Reagan wasn’t the champion of the Constitution that Ron Paul is, he was right on with his observations concerning the socialization of the United States.

www.youtube.com/watch?v=fRdLpem-AAs&eurl=http%3A%2F%2Fwww%2Edailypaul%2Ecom%2Fnode%2F99614&feature=player_embedded

The Bankruptcy of the United States

August 15, 2009

Congressman Traficant speaks out-United States Congressional Record, March 17, 1993

United States Congressional Record, March 17, 1993
Vol. 33, page H-1303

Speaker-Rep. James Traficant, Jr. (Ohio) addressing the House:

“Mr. Speaker, we are here now in chapter 11.. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner’s report that will lead to our demise.

It is an established fact that the United States Federal Government has been dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1, Public Law 89-719; declared by President Roosevelt, being bankrupt and insolvent. H.J.R. 192, 73rd Congress m session June 5, 1933 – Joint Resolution To Suspend The Gold Standard and Abrogate The Gold Clause dissolved the Sovereign Authority of the United States and the official capacities of all United States Governmental Offices, Officers, and Departments and is further evidence that the United States Federal Government exists today in name only.

The receivers of the United States Bankruptcy are the International Bankers, via the United Nations, the World Bank and the International Monetary Fund. All United States Offices, Officials, and Departments are now operating within a de facto status in name only under Emergency War Powers. With the Constitutional Republican form of Government now dissolved, the receivers of the Bankruptcy have adopted a new form of government for the United States. This new form of government is known as a Democracy, being an established Socialist/Communist order under a new governor for America. This act was instituted and established by transferring and/or placing the Office of the Secretary of Treasury to that of the Governor of the International Monetary Fund. Public Law 94-564, page 8, Section H.R. 13955 reads in part: “The U.S. Secretary of Treasury receives no compensation for representing the United States?’

Gold and silver were such a powerful money during the founding of the united states of America, that the founding fathers declared that only gold or silver coins can be “money” in America. Since gold and silver coinage were heavy and inconvenient for a lot of transactions, they were stored in banks and a claim check was issued as a money substitute. People traded their coupons as money, or “currency.” Currency is not money, but a money substitute. Redeemable currency must promise to pay a dollar equivalent in gold or silver money. Federal Reserve Notes (FRNs) make no such promises, and are not “money.” A Federal Reserve Note is a debt obligation of the federal United States government, not “money?’ The federal United States government and the U.S. Congress were not and have never been authorized by the Constitution for the united states of America to issue currency of any kind, but only lawful money, -gold and silver coin.

It is essential that we comprehend the distinction between real money and paper money substitute. One cannot get rich by accumulating money substitutes, one can only get deeper into debt. We the People no longer have any “money.” Most Americans have not been paid any “money” for a very long time, perhaps not in their entire life. Now do you comprehend why you feel broke? Now, do you understand why you are “bankrupt,” along with the rest of the country?

Federal Reserve Notes (FRNs) are unsigned checks written on a closed account. FRNs are an inflatable paper system designed to create debt through inflation (devaluation of currency). when ever there is an increase of the supply of a money substitute in the economy without a corresponding increase in the gold and silver backing, inflation occurs.

Inflation is an invisible form of taxation that irresponsible governments inflict on their citizens. The Federal Reserve Bank who controls the supply and movement of FRNs has everybody fooled. They have access to an unlimited supply of FRNs, paying only for the printing costs of what they need. FRNs are nothing more than promissory notes for U.S. Treasury securities (T-Bills) – a promise to pay the debt to the Federal Reserve Bank.

There is a fundamental difference between “paying” and “discharging” a debt. To pay a debt, you must pay with value or substance (i.e. gold, silver, barter or a commodity). With FRNs, you can only discharge a debt. You cannot pay a debt with a debt currency system. You cannot service a debt with a currency that has no backing in value or substance. No contract in Common law is valid unless it involves an exchange of “good & valuable consideration.” Unpayable debt transfers power and control to the sovereign power structure that has no interest in money, law, equity or justice because they have so much wealth already.

Their lust is for power and control. Since the inception of central banking, they have controlled the fates of nations.

The Federal Reserve System is based on the Canon law and the principles of sovereignty protected in the Constitution and the Bill of Rights. In fact, the international bankers used a “Canon Law Trust” as their model, adding stock and naming it a “Joint Stock Trust.” The U.S. Congress had passed a law making it illegal for any legal “person” to duplicate a “Joint Stock Trust” in 1873. The Federal Reserve Act was legislated post-facto (to 1870), although post-facto laws are strictly forbidden by the Constitution. [1:9:3]

The Federal Reserve System is a sovereign power structure separate and distinct from the federal United States government. The Federal Reserve is a maritime lender, and/or maritime insurance underwriter to the federal United States operating exclusively under Admiralty/Maritime law. The lender or underwriter bears the risks, and the Maritime law compelling specific performance in paying the interest, or premiums are the same.

Assets of the debtor can also be hypothecated (to pledge something as a security without taking possession of it.) as security by the lender or underwriter. The Federal Reserve Act stipulated that the interest on the debt was to be paid in gold. There was no stipulation in the Federal Reserve Act for ever paying the principle.

Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens or mortgages until the Federal Reserve Act (1913)

“Hypothecated” all property within the federal United States to the Board of Governors of the Federal Reserve, -in which the Trustees (stockholders) held legal title. The U.S. citizen (tenant, franchisee) was registered as a “beneficiary” of the trust via his/her birth certificate. In 1933, the federal United States hypothecated all of the present and future properties, assets and labor of their “subjects,” the 14th Amendment U.S. citizen, to the Federal Reserve System.

In return, the Federal Reserve System agreed to extend the federal United States corporation all the credit “money substitute” it needed. Like any other debtor, the federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the federal United States didn’t have any assets, they assigned the private property of their “economic slaves”, the U.S. citizens as collateral against the unpayable federal debt. They also pledged the unincorporated federal territories, national parks forests, birth certificates, and nonprofit organizations, as collateral against the federal debt. All has already been transferred as payment to the international bankers.

Unwittingly, America has returned to its pre-American Revolution, feudal roots whereby all land is held by a sovereign and the common people had no rights to hold allodial title to property. Once again, We the People are the tenants and sharecroppers renting our own property from a Sovereign in the guise of the Federal Reserve Bank. We the people have exchanged one master for another.

This has been going on for over eighty years without the “informed knowledge” of the American people, without a voice protesting loud enough. Now it’s easy to grasp why America is fundamentally bankrupt.

Why don’t more people own their properties outright?

Why are 90% of Americans mortgaged to the hilt and have little or no assets after all debts and liabilities have been paid? Why does it feel like you are working harder and harder and getting less and less?

We are reaping what has been sown, and the results of our harvest is a painful bankruptcy, and a foreclosure on American property, precious liberties, and a way of life. Few of our elected representatives in Washington, D.C. have dared to tell the truth. The federal United States is bankrupt. Our children will inherit this unpayable debt, and the tyranny to enforce paying it.

America has become completely bankrupt in world leadership, financial credit and its reputation for courage, vision and human rights. This is an undeclared economic war, bankruptcy, and economic slavery of the most corrupt order! Wake up America! Take back your Country.”


Image: United States Congressional Record, March 17, 1993 Vol. 33, page H-1303

To silence Traficant, certain members of Congress found a means to put him in prison on trumped-up charges. The hearings were like a kangaroo court; whereby, he was not allowed to bring in certain witnesses, documents, and testimony. Judge Lesley Wells of the U.S. District Court in Cleveland, Ohio, was prejudiced toward Traficant and refused to set bail for Traficant, ordering that service of his term should begin immediately. Denial of bail also sets aside all pending appeals to Traficant’s conviction. Traficant is now serving an eight year prison sentence in federal prison for his April 11, 2002 conviction on trumped-up felony charges of bribery, corruption and tax evasion.

By a vote of 420-1, Traficant was also expelled from the House of Representatives. House Resolution No. 495 read simply, “Resolved, That, pursuant to article I, section 5, clause 2 of the United States Constitution, Representative James A. Traficant, Jr., be, and he hereby is expelled, from the House of Representatives.” Traficant is the second member of the House to be expelled since the Civil War and the fifth in congressional history. Traficant, addressing the House, said “I’ll go to jail before I resign and admit to something I didn’t do.””

Traficant, A former county sheriff, had been elected to Congress nine times by the people of his Mahoning Valley, Ohio district. He plans to run for re-election as an independent candidate and intends to serve from jail if elected.

Must Watch! Military Joining the American Resistance to Protect the Constitution!

August 4, 2009

www.revolutionnow.us/emvideo/thickbox/23/425/350/field_video/youtube/zGHlvnqPdH0

Video: Columbus Tea Party-via the Tenth Amendment Center-August 01, 2009

August 3, 2009

www.tenthamendmentcenter.com/2009/08/02/andrew-napolitano-in-ohio-part-1/

www.tenthamendmentcenter.com/2009/08/02/andrew-napolitano-in-ohio-part-2/

1400 is More Than 200 via- http://www.et-liberty.com July 30, 2009

July 30, 2009

http://someoneneedstosayit.blogspot.com/2009/07/ap-vastly-understates-obama-protest.html

Technically, 1400 is more than 200. What is the truth?

In Liberty,

PK Lowrey

Please read “The Future is Calling”

● Part 1: The Chasm

● Part 2: Secret Organization and Hidden Agendas

● Part 3: Days of Infamy

● Part 4: The War on Terrorism

__._,_.___ Messages in this topic (1) Reply (via web post) | Start a new topic Messages East Tennessee Liberty: http://www.et-liberty.com
Ron Paul’s Campaign for Liberty: http://www.campaignforliberty.com

Why Rep. Wamp and Mayor Haslam can NOT be Governor of TN! [or who I’m (NOT) supporting for TN Governor] by Matt Collins July 13, 2009

July 14, 2009

The following is contributed by Matt Collins. His credentials follow the article below.

Definitely a must read for folks who strive for accountability in government!

You’re kidding me. Our elected officials are supposed to actually keep their oath to uphold the Constitution? The supreme law of the land?

Yup, that’s it. It’s so simple; but these folks are hard to find due to “Special Interest Influence” and arm-twisting from the “Dark Side”.

—————————————————–

<<I HAVE POSTED THE FOLLOWING AT: http://www.campaignforliberty.com/blog.php?view=21733 FEEL FREE TO COPY AND REDISTRIBUTE – citizens of TN should know about their candidates>>

DISCLAIMER:
Nothing I communicate is to be considered an official statement representative of any organization I belong to or am an officer of, including the Campaign for Liberty, Republican Liberty Caucus, WTN, Liberty on the Rocks, America’s Future Foundation, The Tennessee Liberty Alliance, Rand Paul for Senate, or the Davidson County (Nashville) Republican Party. My opinions are my own.


Why Rep. Wamp and Mayor Haslam can NOT be

Governor of TN!
[or who I’m (NOT) supporting for TN Governor]

The Davidson County (Nashville) Republican Party held our annual summer picnic Saturday (7/11); all of the Republican gubernatorial candidates were present. After speaking with each candidate individually I am still unsure who I am going to support, however there are definitely two of the candidates who have not only disqualified themselves, but should never hold and elected office again!

I‘ll start with Bill Haslam the Mayor of Knoxville.

In case you are unaware Mayor Haslam joined NYC Mayor Bloomberg’s anti-gun coalition in an effort to curb crime in Knoxville. However Mayor Haslam then says that upon joining the coalition the leadership took a different direction and he withdrew from the organization. Fair enough and at the DCRP picnic Saturday 2nd Vice Chair Dan Davis and myself asked him about this issue. I wanted to hear the straight scoop directly from him in order to give him a chance to explain his actions before I decided.

Mayor Haslam discussed the story as I explained and he said his intention in the entire situation was simply to “stop the wrong people from having guns”.

I asked him “what kind of people are you referring to that you say shouldn’t have guns?”
And he responded with “felons, criminals, and those without a permit”.

Then I asked “so you believe we need a permit or permission to exercise a right guaranteed by the 2nd Amendment?
Mayor Haslam said “well, for handguns yes

That told me everything I needed to know; I thanked him for his time then I ended the conversation and Dan and I walked away.

What Mayor Haslam does not understand is that ONE DOES NOT NEED A PERMIT TO EXERCISE A RIGHT!!!
We have a right to bear arms that both the US and TN Constitutions guarantee shall not be infringed. Do we need a permit for free speech? Do we need a permit to print a newspaper? Do we need a permit to have a trial by jury? Do we need a permit to birth children? NO, of course not. Why? Because these activities are fundamental individual RIGHTS which cannot be taken away without due process (obviously those convicted of violent crimes should be denied their right to posses firearms). We do not need permission from the government to exercise our rights. If we have to ask permission, then it isn’t a right, it’s a privilege! Rights and privileges are opposites.

The idea that our right to self-defense, our right to bear arms, and that our right to buy/sell/own personal property is first contingent upon a governmental grant of approval is insulting to the very ideals of freedom on which the American Republic was founded. I suggest Mayor Haslam read the US and TN Constitutions because ignorance of both that magnitude and of that authoritarian mindset is dangerous to individual rights and to a free society. He is obviously unfit to govern if he cannot understand the simple and basic difference between rights and privileges.

(Upon edit apparently I am not the only one who takes issue with Mayor Haslam in this regard)

Continuing on to the other gubernatorial candidate, Zach Wamp, the US Congressman from Tennessee’s 3rd District.

Representative Wamp voted for the October ’09 bailout. Representative Wamp calls himself a conservative but one has to ask what is conservative about spending billions of nonexistent dollars, increasing the size/scope of the federal government, and voting against the US Constitution? As an aside it is worth noting that the bailout Representative Wamp voted for also included an audit of carbon emissions which laid the foundation for the coming cap-and-trade / carbon tax; next time you see him be sure to thank him for that.

All US Congressmen upon being seated are administered an oath to “support and defend the Constitution of the United States”. Nowhere in Article 1 Section 8 of the US Constitution (the part that lists Congressional power) is the federal government given the authority to bail out banks, businesses, or mortgages. By voting for and supporting the bailout Congressman Wamp clearly violated his oath to support and defend the US Constitution. On those grounds alone he should be removed from office immediately, and personally I would like to see him, along with most of the rest of the members of Congress, either in jail or forced to perform restitution to those of us who are footing the bill for his unconstitutional action.

When one is entrusted with and given the awesome power to make laws governing the life and property of others, the abuse (or negligence) of that power is not only criminal, but amoral; Merriam-Webster’s Dictionary labels an individual “who betrays another’s trust or who is false to an obligation or duty” as a traitor. Does that denotative description fit Representative Wamp’s blatant violation of his oath?

Several DCRP officers and myself approached him near the conclusion of the Picnic because we wanted to discuss HR1207 (Audit the Federal Reserve Act). Representative Wamp extended his hand to me to shake it and I absolutely refused; I am not interested in being friendly towards those who violate the Constitution. To be fair he said that he was very supportive of HR1207 and that “we ought to do more than just audit the Fed….it’s the cause of a lot of our problems”. While I agree with the Congressman on that specific issue I honestly wanted to vocalize that the other cause of our problems were big-government Republicans acting like big-government Democrats such as himself. However in the spirit of, at minimum, being cordial, I held my tongue. But prior to walking away I did thank him for and told him I appreciated his support on HR1207. I still did not shake his hand.

Regardless of his support for a call of transparency in Auditing the Fed, the fact of the matter is that he broke the trust of the People of the United States by clearly violating his oath to uphold the US Constitution. One or multiple positive actions do not negate the fundamental premise of breaking the highest law in the land, usurping more power to the federal government, and going against one’s sworn oath. Even though Representative Wamp has called his vote for the bailout “a mistake” how can the voters continue to trust him after such a grossly grievous err in judgment especially considering the significance of the consequences resulting from his action?
At this point we have a candidate who has violated his oath, and another who is of the authoritarian mindset that the People need permission from the government before exercising their individual and guaranteed rights. I have 3 more candidates in the TN gubernatorial race to investigate before I decide who to support, hopefully at least 1 of the 3 will not disappoint me because the thought of voting for “none of the above” in the upcoming primary is extremely depressing– I refuse to vote for anyone who is going to increase government, or decrease liberty.

In conclusion it is prudent to ask if we attain smaller, more limited-government, more liberty, more personal freedoms, and less taxes by continuing to vote for elected officials that have broken our trust and ignore the Constitution? Should we reward politicians who take our money, our property, and our freedoms by elevating them to higher office? Should we continue to vote for more of the same? Upon a review of history, I think not. If the Republican Party, and ultimately the country, is going to restrain its government, we must vote for those who adhere to principles, not compromise them.

Matt Collins
principle before politics
Vice Chair Davidson County Republican Party
Vice Chair Republican Liberty Caucus of TN
Coordinator Davidson County Campaign for Liberty
Talk Radio Producer 99.7 WTN Nashville
Member America’s Future Foundation
Member Liberty on the Rocks

DISCLAIMER:
Nothing I communicate is to be considered an official statement representative of any organization I belong to or am an officer of, including the Campaign for Liberty, Republican Liberty Caucus, WTN, Liberty on the Rocks, America’s Future Foundation, The Tennessee Liberty Alliance, Rand Paul for Senate, or the Davidson County (Nashville) Republican Party. My opinions are my own.

Self-Defense-June 19, 2009

June 19, 2009

Dear Council Members,

I hope you are all having a restful and relaxing summer.  Even though I
have had conflicts which have caused me to miss the last couple of
Council meetings, I continue to follow developments in our community
through the media and I am as committed as ever to keeping our Town a
great place to live.

Let me begin by thanking you for holding the line on the Town budget and
avoiding a tax increase.  In a year when the economy is in deep
recession and properties are being reappraised by the county (leading to
a de facto tax increase for some citizens) it is more important than
ever for local government to live within its means.  You are to be
commended for tightening the Town’s belt rather than imposing a tax
increase on residents who would have a very difficult time coming up
with the money.

I would also like to thank you for asking the Planning Commission to
review the SROZ zoning put in place by your predecessors several years
ago.  There are good reasons why those council members were recalled.
One is the existence of the SROZ itself, but the second and more
important reason was the arrogant dismissal of the views of their
constituents on the part of those elected officials.  I trust you will
not fall into the same trap.

With that in mind, I would like to share with you my opinion on the bill
recently enacted by our General Assembly in Nashville regarding the
legalization of handgun carry by permit holders in state and local
parks.  Specifically, I strongly urge you not to exercise the “opt out”
provision that (in my opinion) was unwisely included by legislators.

As one of hundreds of thousands of Tennessee Handgun Carry Permit
holders (and one of hundreds in our community), I have demonstrated my
responsibility as a gun owner by taking and passing a state-approved
safety course including classroom instruction on the law as well as a
marksmanship test on the firing range.  I have also submitted to a
criminal background check and have been found to be responsible enough
to be trusted to carry a weapon for defensive purposes in public.  If I
am responsible enough to be approved to carry a weapon in Wal-Mart,
Pruett’s, or (now) O’Charley’s or Friday’s, I feel I am equally as
responsible to carry a weapon in any of our municipal parks.

While I think Signal Mountain’s parks are among the safest anywhere, and
I never feel threatened in our community, I feel the principle of
self-defense rights for law-abiding citizens is important to uphold
everywhere.  The shootings by a crazed gunman at Virginia Tech prove
that no place, however laid-back or pastoral, is immune to violence.  It
is an obvious fact that criminals and lunatics, paying no attention to
the law, will be armed wherever they go.  The only way that sane,
law-abiding citizens can even the odds is to reserve the right to arm
themselves as a deterrent and counterbalance to those who mean us harm.
Even though I rarely, if ever, feel the need to go armed in Signal
Mountain, I often pass through our local community – parks included – on
the way to other, less safe locations.  Disarming me – or other
law-abiding citizens – is not the way to increase overall liberty or safety.

As Thomas Jefferson, the author of our Declaration of Independence and
our third President once said, “Laws that forbid the carrying of arms
… disarm only those who are neither inclined or determined to commit
crimes.  Such laws only make things worse for the assaulted and better
for the assassins; they serve to encourage than to prevent homicides,
for an unarmed man may be attacked with greater confidence than an armed
man.”  Jefferson was joined in his sentiments by our first President,
George Washington, who said “Firearms stand next in importance to the
Constitution itself.  They are the people’s liberty teeth (and) keystone
… the rifle and the pistol are equally indispensable … more than 99%
of them [guns] by their silence indicate that they are in safe and sane
hands.  The very atmosphere of firearms everywhere restrains evil
interference [crime].  When firearms go, all goes, we need them every hour.”

I know that Hamilton County, the city of Chattanooga, and Red Bank have
unfortunately moved to ban the legal possession of firearms in their
parks.  I know it will be politically tempting to follow their lead.
However, their actions are neither wise nor in keeping with the wisdom
of our Founders.  My copy of the Constitution does not say “right to
keep and bear arms, except for local parks.”  Criminals will be armed in
public parks regardless of the law.  I strongly urge you to resist the
knee-jerk impulse to ban legal weapons carry in local parks and uphold
the letter and the spirit of the Second Amendment in our community.

If you have any questions or would like to engage in a more thorough
discussion of this issue prior to acting (or preferably not acting) on
the issue, please feel free to contact me by return e-mail or by
telephone at 423-645-5599.  If there is any other service I can perform
for our community, please know that I am always happy to serve or
participate in any way I can.

Please accept my best wishes and my sincere thanks for your service to
our community.

Best regards,

Joe Dumas

Digging Really Deep Holes-via DownsizeDC.org-June 13, 2009

June 13, 2009

D o w n s i z e r – D i s p a t c h


Quote of the Day: “One time in the House of Representatives told me a story about a proposition that a teacher put to a boy. He said, ‘Johnny, a cat fell in a well 100 feet deep. Suppose that cat climbed up 1 foot and then fell back 2 feet. How long would it take the cat to get out of the well?’ Johnny worked assiduously with his slate and slate pencil for quite a while, and then when the teacher came down and said, ‘How are you getting along?’ Johnny said, ‘Teacher, if you give me another slate and a couple of slate pencils, I am pretty sure that in the next 30 minutes I can land that cat in hell.’ if some people get any cheer out of a $328 billion debt ceiling, I do not find much to cheer about concerning it.” — Senator Everett Dirksen, Congressional Record, June 16, 1965

Subject: How deep is the hole the politicians are digging for us?

The financial newsletter The Privateer reports…

“Warnings have been issued from the Treasury that the Congressionally mandated debt ceiling of $12.1 TRILLION will most likely be breached in the second half of this year.”

This pit of borrowing doesn’t even account for the deepening currency well we reported in last Friday’s Dispatch.

The politicians are borrowing and the FED is printing at staggering rates. As their shovels continue to ominously clang and clash, the news gets worse. Again, from The Privateer…

“The Federal Deposit Insurance Corporation (FDIC) list of troubled American banks has risen in the past three months from 1,568 banks with about $2.3 TRILLION in assets to US 1,816 banks with some $4.4 TRILLION in assets. Just who guarantees the FDIC? The US Treasury of course.”

To be more specific, you the taxpayer will dig out all of those banks.

And if past history is a guide, that FDIC list is conservative to a fault. The real number of “troubled” banks is almost certainly higher. It seems the FDIC, like most government regulatory agencies, is usually the last to know there’s a problem.

That’s not all. Relying on data from the US Federal Reserve and Congressional Budget Office (CBO), The Privateer reports…

There’s a hodge-podge of guarantees totaling $12.9 TRILLION, with…

* $8.2 TRILLION from the Fed
* $2.7 TRILLION from the US Treasury
* $2.0 TRILLION from the FDIC

On top of that, the US government has…

* Made asset purchases of $2.3 TRILLION
* Guaranteed $7.3 TRILLION worth of Fannie Mae, Freddie Mac, and Ginnie Mae debts
* Made other guarantees of $6.6 TRILLION to the US banking system.

“The sum total of all this ‘Stimulus’ is $29.1 TRILLION!” concludes The Privateer.

It would be fair to point out that not all that money has actually been spent yet. Things would have to go wrong in order to trigger those guarantees.

So we must turn to history to see if we’re doomed to the ditch. Were the bailouts an effective strategy or a sink-hole?

Consider the example of Citibank. When former Treasury Secretary Hank Paulson first extended support to Citi, his team believed it was strong. Paulson believed the funds would be focused at stabilization of the markets and the economy. Yet TheStreet.com was already giving them a C-. Once again, government was the last to know, because Citibank almost went out of business and required a second bailout just weeks later.

That track record is no cause for hope about these guarantees.

And another crater might await the banks. Weiss Research reports that U.S. banks have a total of $200.4 TRILLION in derivatives, and that those derivatives may well do more severe damage to bank balance sheets.

“According to the OCC’s Q4 2008 report, America’s top five commercial banks control 96 percent of the industry’s total derivatives, while the top 25 control 99.78 percent. In other words, for every $100 dollar of derivatives, the big banks have $99.78 … while the rest of the nation’s 7,000-plus banking institutions control a meager 22 cents! This is a massively dangerous concentration of risk.”

Derivatives caused record losses for banks in the fourth quarter of 2008. Are there more serious losses to come?

And we’re left to wonder, should that time come, where will the government get the money to cover these “too big to fail losses?”

Yet, those aren’t the only pitfalls. The projected budget deficit this year is $1.8 trillion. Just a year ago, many of us were screaming about a projected $490 billion deficit. Oh, for the good ole days!

But that projected deficit will certainly deepen, even though the White House budget allegedly reduces the deficit over the next few years. Why?

Unemployment! The Libertarian Party reported this week that a Jan. 10 White House report selling the stimulus package promised unemployment under be kept under eight percent. Instead, according to the Bureau of Labor Statistics, it grew to 9.4 percent, placing unemployment at a 26-year-high, with 14.5 million workers now jobless.

Uncle Sam is “bursting at the seams,” but he’s probably going on a diet. Higher unemployment means lower than expected tax revenues. That means the deficit will be more cavernous than projected — maybe in excess of $2 TRILLION.

In review, numbers to be concerned about are,

* $12 TRILLION, the National Debt number that’s rapidly approaching
* $29.1 TRILLION in bailout/stimulus guarantees
* 1,816 “troubled” banks with about $4.4 TRILLION in assets
* $200.4 TRILLION in U.S. bank-held derivatives that can create tens of billions of dollars of losses, and perhaps bank failures
* $2 TRILLION, the likely federal budget deficit

Indeed, the hole the politicians are digging is unfathomable. But that’s not all the numbers we have to WORRY about.

According to the Social Security Administration, the federal government’s unfunded liabilities equals $101 TRILLION — that’s a liability of $834,000 for every full-time working American. These long-term debts are primarily due to Social Security, Medicare, and Medicaid.

Even here, the news threatens to get considerably worse…

* Social Security, a Ponzi scheme that makes Bernie Madoff look like a piker, has, until now, taken in more money than it puts out. It was projected that starting in 2017, it would run a deficit. But due to high unemployment rates, it will likely turn its first loss in 2010.

* As we’ve reported in these Dispatches, the President seems determined to bring health care under total government control, including dramatically expanding Medicare.

What does all this mean to you?

Sooner or later, the politicians will either…

a) Default on commitments, perhaps with a variety of tinkering reforms like rationing, means-testing, tax increases, etc. or,
b) Inflate the currency so much that you’ll see massive price increases for virtually everything. Imagine, for example, $8 per gallon gas.

Let’s put a stop to this digging. Instead, we can do four very important things…

1) TAKE ACTION. We’ve updated our Unfunded Liabilities campaign to reflect the Social Security number. Send a message objecting to the very deep hole the politicians are digging. Demand that they “Downsize DC!”

2) Forward this message to others and ask them to join you in sending a message to Congress.

3) The politicians may be digging us a deep hole, but you can “Digg” this Dispatch if you’re registered with Digg.com, so that more people see it, and join the Downsize DC Army. Just go to the blog version of this Dispatch and click on the Digg icon to get started.

4) The down economy has affected DownsizeDC.org as well. Pledge attrition levels have been unusually high. To continue growing, your DownsizeDC.org needs new pledgers. Would you consider joining as a monthly pledger, or perhaps increasing your existing pledge? As regular readers know, we acknowlege pledgers by name here on the Downsizer-Dispatch regularly.

Thank you for being a part of the growing Downsize DC Army,

Jim Babka
President
DownsizeDC.org, Inc.

D o w n s i z e r – D i s p a t c h
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Another Counterfeit Update-via DownsizeDC.org-June 08, 2009

June 8, 2009

D o w n s i z e r – D i s p a t c h


Quote of the Day: “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” — John Maynard Keynes Source: “The Economic Consequences Of The Peace”

Subject: Counterfeiting Update

In May of last year the U.S. money supply stood at roughly $834 billion. Now, a year later, the Federal Reserve has created an additional $941 billion out of thin air. Pay close attention to those numbers…

* The amount of new money the Fed has created is roughly $107 billion more than all the money that was in circulation just a year ago
* In other words, the U.S. money supply has more than doubled

Think about what this does to the value of your dollars, to your savings, to your paycheck, to your retirement income? A doubling of the money supply means your money is worth half what it was.

Of course, your money’s loss of value won’t manifest itself overnight. It will take time for the Fed’s counterfeiting to drive up prices. But those who get the new money first will be able to spend it while prices are still low, increasing their wealth at your expense.

The Federal Reserve, as you might expect, promises that prices won’t rise. They claim they’ll withdraw their counterfeit money before that happens. Do you feel comforted? Should we really believe that…

* The Fed can really undo so much counterfeiting
* The attempt to withdraw the counterfeit dollars won’t cause economic disruptions of its own

And if they did sop up their funny money, wouldn’t that mean another “contraction?” …more unemployment? …other sectors in trouble and screaming for a taxpayer-funded bailout?

Our position is simple. If it’s wrong for individuals to counterfeit, it’s also wrong for the government to do it. What we need is money that no one can counterfeit, like gold and silver. Some people want to make this happen by abolishing the Fed. We agree. That needs to happen. But it’s a big step. We think there’s an easier way…

Congress should start by ending the Fed’s monopoly control of money. Congress should permit you to use whatever form of money you prefer. This would…

* Empower the creation of an alternative money system
* Reduce the Fed’s ability to counterfeit by forcing Federal Reserve Notes (FRNs) to compete with honest money
* Make it easier to abolish the Fed once a new money system is fully operational

To make this happen Congressman Ron Paul introduced three “Honest Money” bills in the last Congress (110th). These bills would…

* Repeal the legal tender law that forces you to accept FRNs
* Repeal the federal government’s monopoly over coinage
* Prohibit federal and state taxes on precious metal coins and bullion

These simple changes would allow you to buy and sell using means of exchange other than FRNs. Sadly, Congressman Paul hasn’t re-introduced these bills. If you’re one of his donors or constituents please calls his office at 202-225-2831 and ask him to re-introduce his three “Honest Money” bills, combined as one bill. As for the rest of us…

We should tell our own representatives to ask Congressman Paul to re-introduce these bills, or do it themselves. You can send your instructions using DownsizeDC.org’s “End the Inflation Tax” campaign.

Use your personal comments to tell your representatives that you’ve seen the Federal Reserve’s lastest counterfeiting numbers. Object to the fact that the Fed has increased the monetary base from roughly $844 billion as of May 2008, to roughly $1,775 as of May 2009.

To exceed the 36,512 messages we sent last month we need to send at least 1,651 messages today.

Thank you for being a part of the growing Downsize DC Army. To see how we’re growing, check out the Keeping Score report below my signature.

Jim Babka, President
DownsizeDC.org, Inc.

KEEPING SCORE

We grew by 12 net new members over the weekend, which brings us to 1,163 net new members for the year. The Downsize DC Army now stands at 25,512 — 51% of the way from 25,000 to 26,000!

YOU can make the army grow even faster by following our quick and easy instructions for personalized recruiting.

We can also grow faster by doing more outreach to potential DC Downsizers. Please help us do this by starting a monthly credit card pledge — it can be as low as $5 a month (which is just 17 cents per day). You can start your pledge using our secure online contribution form.

Please let us know if its okay to advertise your support here:

Or, you could make a one-time donation. Please let us know on our secure contribution form if its okay to advertise your support here:

NEW ONE TIME DONORS IN JUNE: Edward J Krieger, Jan Berridge, TWO unlisted — IN MAY: Dorothy Davis, Arlene Lindstrand, Dee Clary, Joan Garro, Jennifer Tarling, Richard Linchitz, Steven Palmer, Bruce N. Liddel, Ernest P. Eusea, Chris Reulman, David Anthony, Christopher T Wagner, Thomas Sartwelle, Jr, EIGHT unlisted

D o w n s i z e r – D i s p a t c h
is the official email list of DownsizeDC.org, Inc. & Downsize DC Foundation
Normally published 3 – 6 times per week.

CONTRIBUTE in support of the “Educate the Powerful System”

http://www.DownsizeDC.org is sponsored by DownsizeDC.org, Inc. — a non-profit educational organization promoting the ideas of individual liberty, personal responsibility, free markets, and small government.  Operations office: 1931 15th St. Cuyahoga Falls, OH 44223, 202.521.1200

IF you have difficulties or inquiries, simply hit reply to this message. We’re eager to help, including with requests to unsubscribe.

The Downsize DC Team would like to thank you for subscribing to the Downsizer-Dispatch, which you did by going to http://www.downsizedc.org/page/newsletter or by using our Educate the Powerful System to send a message.

You are encouraged to forward this message to friends and business associates, and permission is hereby granted to reproduce any items herein as long as attribution is provided for articles and the subscription instructions above are included.