Thursday, April 22, 2010

Articles of Freedom, part 11



It’s been a while since I’ve written about the Articles of Freedom. I left off a few weeks ago at Article 9, so now I will go on to Article 10, the text of which follows my comments.

Here is my plan on this issue (monetary policy):

1. Immediately repeal or nullify all legal tender laws except for gold and silver coins at the state level.

2. All contracts made in Federal Reserve Notes, past, present and future would remain legally valid except securities purchased from the Federal Government and currently held by the Federal Reserve Banks would be declared void.

3. Abolish the Federal Reserve and its Board of Governors by repealing the Federal Reserve Act.

4. It may be necessary to temporarily fold portions of the Federal Reserve System into the Treasury Department. Federal Reserve notes will continue to pass out of existence as bank loans are paid off.

5. Increase the Federal production of gold and silver coins.

The CC09 plan doesn’t specifically have all things, but I agree with everything they say in this Article 10. It is also worth noting that as Federal Reserve Notes are phased out, the federal income taxes should be phased out as well--laws indicating that transactions in gold or silver coins should be exempt direct, unapportioned taxes.

ARTICLE 10.

MONEY AND ARTICLE 1 OF THE CONSTITUTION

A. REMEDIAL INSTRUCTIONS TO CONGRESS

1. The Congress of the United States, in the exercise of its power authorized by Article I, Section 8, Clause 5 of the Constitution for the United States of America, “[t]o Coin Money, regulate the Value thereof, and of foreign Coin,” shall enact a statute:

(a) establishing a National Advisory Commission on Alternative and Competitive Currency, and

(b) calling upon each of the several States to establish their own State Advisory Commission on Alternative and Competitive Currency.


2. That the sole purpose of the said Advisory Commissions shall be to study and recommend the means by which each State individually, and the several States and Congress collectively, can promote the adoption by both the several States and the United States, as rapidly as possible, of an economically sound and Constitutional alternative and competitive currency, which shall:

(a) consist exclusively of silver and gold, the units to consist of 371.25 grains (troy) fine silver and 371.25 grains (troy) fine gold, which shall be subject to transfer from one party to another in both an electronic form measurable in any number of units, as well in tenths, hundredths, and thousandths of a unit, and the form of coins (whether of traditional or nontraditional shapes) of convenient weights consisting of multiples of the units or common fractions thereof;

(b) gradually be introduced as the media of exchange in all of the financial transactions of the governments of each of the several States and of the United States, so as in a measured manner to minimize and finally supplant the use in such transactions of Federal Reserve Notes or bank balances payable in those notes to the maximum degree possible consistent with the general welfare; and

(c) eventually supplant the use of such notes or balances in all private monetary transactions within and among each of the several States to such degree as the free market determines economically appropriate.

(d) That the National Advisory Commission shall be composed of the following persons: {…here shall be listed the proposed members of the Commission…}.


3. That, within thirty (30) days from the effective date of the said statute, the National Advisory Commission shall submit to Congress a report containing complete and specific drafts of all such legislation as may be necessary and proper for Congress to enact in order to guarantee that the citizens of each State may employ an alternative and competitive currency in all of their private economic transactions free from any form of taxation, reporting, or other regulation by the United States or any agency thereof, or by any State or agency thereof, that increases in cost, hinders, deters, discourages, delays, or renders cumbersome the use of such currency, or the consummation of transactions in which such currency is the medium of payment, in comparison to the same use of, or the consummation of similar transactions involving, Federal Reserve Notes or bank balances payable in such notes.


4. That, within thirty (30) days of its receipt of the National Advisory Commission’s report submitted pursuant to Paragraph 2, ante, Congress shall enact such legislation as will achieve the goals set out in that Paragraph.


5. That, within ninety (90) days from the effective date of the said statute, the National Advisory Commission shall submit to Congress a report containing complete and specific drafts of all such legislation as may be necessary and proper for Congress to enact in order to achieve the goals set out in Paragraph 2, ante, for the Government of the United States.


6. That, within sixty (60) days of its receipt of the National Advisory Commission’s report pursuant to Paragraph 5, ante, Congress shall enact such legislation as will achieve the goals set out in Paragraph 2, ante, for the Government of the United States.


B. REMEDIAL INSTRUCTIONS TO EACH OF THE SEVERAL STATES


1. That the Legislature in the exercise of its reserved power under Article I, Section 10, Clause 1 and the 10th Amendment, as well as other provisions of the Constitution for the United States, shall adopt a currency, other than that emitted by Congress, for use in all the financial transactions of the State. These shall by statute establish an Advisory Commission on Alternative and Competitive Currency for the State, the purpose of which shall be to study and recommend:

(i) the means, including all necessary State legislation (and where appropriate legislation that authorizes direct and independent action by units of Local government), by which the State can adopt an economically sound and constitutional alternative and competitive currency, consisting exclusively of silver and gold, initially for use in all of the financial transactions of the State’s government, thereby minimizing the use in such transactions of Federal Reserve Notes or bank balances payable in those notes, and eventually to supplant the use of such notes or balances in all private economic transactions within the State to the maximum degree possible for the benefit of its citizens; and



(ii) such legislation as may be necessary and proper for the State to enact in order to guarantee that the citizens of the State may employ such alternative and competitive currency in all of their private economic transactions free from any form of taxation, reporting, or other regulation by the State or agency thereof, that increases in cost, hinders, deters, discourages, delays, or renders cumbersome the use of such currency, or the consummation of transactions in which such currency is the medium of payment, in comparison to the same use of, or the consummation of similar transactions involving, Federal Reserve Notes or bank balances payable in such notes.


2. That the Advisory Commission shall be composed of the following persons: {…here list the proposed members of the Commission…}.


3. That the Advisory Commission shall, within sixty (60) days from the effective date of the said statute, submit to the Legislature a report containing complete and specific drafts of all such legislation as may be necessary and proper for the Legislature to enact in order to achieve the goals set out in Paragraph 1, ante.


4. That the Legislature shall, within sixty (60) days from its receipt of the drafts of legislation submitted by the Advisory Commission pursuant to Paragraph 3, ante, enact such legislation as will achieve the goals set out in Paragraph 1, ante.


C. RECOMMENDED CIVIC ACTIONS BY THE PEOPLE


WHEREAS, Article I, Section 10 of the U.S. Constitution specifies that “No state shall… make anything but gold and silver coin tender in payment of debts” and understanding the Federal Reserve is a private banking cartel whose effect has been to reduce the value of the dollar approximately 96% since its inception, Continental Congress 2009, in the interest of economic liberty:


1. Encourages networks of like-minded individuals to increasingly buy hard money coinage to use among their communities with the goal of increasing financial independence, and

2. That the aforementioned individuals, upon having established trade procedures in said hard money, shall be prepared for the replacement of the unconstitutional Federal Reserve upon its failure or abolition.


(from Articles of Freedom, the Works of the Continental Congress 2009)


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