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I received this email this morning from
Ron Hera about how states are establishing their sovereignty and getting
ready for the mathematically inevitable collapse of the dollar. Besides Utah 12 other states proposing gold and silver legal tender
laws Colorado, Georgia, Montana, Missouri, Indiana, Iowa, New Hampshire,
Oklahoma, South Carolina, Tennessee, Vermont and Washington. Ron Paul is
sponsoring HR 1098 for competition of currencies. This ties in very well with
my ultimate solution I have planned. Please read this and understand a new monetary
paradigm is coming for all, so start getting ahead of the curve.
Chris,
This is the most important message I have ever sent.
I urge you to read it and to share it with others.
Earlier this week I attended the Utah Monetary
Summit in Salt Lake City, Utah. As you may know, the state of Utah passed a
Legal Tender Act earlier this year authorizing the use of federally minted
gold and silver coins as money in the state of Utah. Now, legislators in
other states, many of whom attended the Monetary Summit, are evaluating
similar legislation.
Among other things, this means the United States is
approaching a Constitutional crisis because states are beginning to
financially break away from the federal government. This is no less serious
than the American War of Independence or the War Between the States. The Utah
Monetary Declaration (below) is a financial declaration of independence
whereby states are beginning to opt out of the Federal Reserve System. A
major confrontation seems inevitable.
The issues underlying this historic development
include:
1. The unsound condition of large U.S. banks, which
have inaccurate and crumbling balance sheets along with $250 trillion in
high-risk OTC derivatives contracts;
2. The unstable nature of the U.S. and world financial
systems, characterized by unworkable levels of sovereign debt and private
debt and by over $600 trillion in OTC derivatives liabilities;
3. The excessive levels of federal government debt
and unfunded liabilities combined with falling federal tax revenues prior to
the start of the double-dip recession that began in the second half of 2011;
4. The radically inflationary monetary policies of
the federal government and of the Federal Reserve, which promise high
inflation or hyperinflation in the future;
5. The worsening condition of the real U.S. economy
outside of large banks, multinational corporations, and Wall Street firms,
where federal government bailouts and Federal Reserve monetary easing (money
printing) transfer wealth from proverbial Main Street to literal Wall Street;
6. The rapidly escalating polarization of the
distribution of wealth, which threatens not only the economic stability of
the United States but also its social and political stability; and
7. The current, highly inflationary monetary system
is plainly unfair and fundamentally immoral.
As a consequence of these grave, ongoing and growing
problems, which are being largely ignored by the mainstream news media, state
governments must take immediate action to ensure the functioning of local
economies and of state governments, should the federal government / Federal
Reserve System break down. Specifically, there is an urgent requirement for
an alternative currency to the privately issued Federal Reserve Note, which
is erroneously referred to as the “U.S. dollar.”
Replacing a stable form of money with ever expanding
debt and inflation undermines capitalism and destroys jobs. The monopolistic
monetary system of the United States today is inherently inflationary because
it must continually expand in order to prevent a deflationary collapse. The
underlying structure and root cause of the monetary system’s inherent
and inescapable inflationary bias is the legal construction of money as debt
with no direct link to real economic activity. Debt levels in the economy and
bank profits are simply out of line with reality.
In addition to the unsustainable and unstable nature
of such a system, an inherently inflationary monetary system destroys savings
by devaluing the currency. Savings, which are the result of excess
production, precisely define the term “capital.” Replacing
capital with debt, while highly beneficial for banks that create money out of
thin air (through lending), is a deeply flawed concept responsible for the
systematic and ongoing breakdown of capitalism in America. This deep,
structural problem is the absolute root cause of chronic, irremediable
unemployment. As a consequence, there will be no genuine economic recovery in
the U.S. and jobs will not return unless and until the monetary system is
fundamentally reformed.
An ultimately more important issue is also garnering
attention among state legislators, prominent (non
Keynesian) economists, religious leaders, political activists and
voters. Inflation, particularly if it is systematically understated by the
federal government or Federal Reserve, robs savers of the proceeds of past
labor and robs workers of the spending power of their wages, living standards
and financial futures. Inflation robs the elderly of their retirement and
robs investors of their capital by facilitating taxes on alleged gains
created solely by currency debasement. Legal tender, created as debt, results
in ever larger debt burdens thrust upon innocent future generations that will
experience progressively lower living standards and reduced economic
opportunity. Generations to come will be born into debt bondage, thus the
monetary system is at the center of a profound moral crisis.
The morally and literally bankrupt nature of the
current U.S. financial system is transforming America into a dog-eat-dog
society where every person seeks to live at the expense of someone else
rather than by producing wealth, because production is systematically stolen
by the federal government and by banks through the clever device of an inflationary
monetary system. The monetary system operates by exchanging fictitious
“wealth” (debt based money created out of thin air by private
banks) for the real wealth of borrowers, i.e., the proceeds of their labor.
In effect, the monetary system is a massive scam purported to be legal but
lacking any demonstrable legal authority. Specifically, there is no
Constitutional or other legal basis upon which the federal government can
force a private monetary monopoly on the states. In fact, the Constitution of
the United States explicitly establishes the exact opposite.
The oversized banking system and federal government
have grown in an unholy alliance in lock-step and now consume so much of the
U.S. economy that, together, they not only pillage the real economy but
threaten to kill, once and for all, what is left of the free country founded
by the Declaration of Independence. The moral precedent and example set at
the highest levels of the federal government and of the banking cartel is
that profit, fame, success and wealth are (either directly or indirectly)
rewards for immoral acts rather than for honesty in business. Moral
corruption at the top–embedded in the very structure of the monetary
system–has slowly spread its gangrenous effect, undermining totally the
founding principles of the United States of America, enshrined in the
Constitution of the United States and in the Bill of Rights. Rather than
liberty, America’s legacy is fast becoming one of moral turpitude
enshrined in financial injustice and oppression.
The challenge before our nation today–our
moment in history–is not merely a financial or economic or political or
legal / Constitutional crisis. It is also, and primarily, a moral crisis that
could literally destroy the United States of America and all that it has
stood for in more than two centuries. A stable society requires sound
principles. A moral society requires sound money. Today, the United States of
America has neither.
This message is a call to action. In the words of
poet Dylan Thomas, let us say for America “Do not go gentle into that
good night / Rage, rage against the dying of the light.”
I am personally asking you to read the Utah Monetary
Declaration (below), which I, among many others, signed on Monday evening,
September 26, 2011, in the Post Chapel on the University of Utah campus at
Salt Lake City, and to forward it to all, especially to your state officials.
Time is of the essence. Although its duration and pace are as yet unclear,
the crisis is already upon us. Please act
now and do not delay.
Ron Hera
Govenor Herbert Signing the Utah Legal Tender
Act
Utah Monetary Declaration
WHEREAS, money, as a medium of exchange,
a store of value, and a unit of measure promotes economic activity, growth
and productivity by facilitating specialization and trade, the accumulation
of wealth and its long-term investment, as well as accountability in setting
prices, tracking progress, and settling accounts;
WHEREAS, natural money – precious
metal coin – by virtue of its inherent qualities of recognizability,
measurability, uniformity, divisibility, durability, portability and scarcity
has reliably retained its purchasing power, notwithstanding periodic
fluctuations, over the centuries and millennia of human history, serving as
an effective medium of exchange and store of value often without any
governmental declaration to require, legitimize or perpetuate its adoption
and operation as such;
WHEREAS, sound money, by retaining
stable purchasing power over time, best serves societal needs by
substantially reducing the uncertainty of inflation risk for creditors and
deflation risk for debtors as well as encouraging saving and investment among
the general populace and benefiting the economic zone in which it circulates
by stimulating the economy and by attracting foreign capital and commerce to
the region;
WHEREAS, history attests that
monopolistic monetary systems frequently engender currency debasement,
resulting in serious consequences such as lost purchasing power, inequitable
wealth redistributions, misallocation of productive resources, and chronic
unemployment, and that, as the cornerstone of a free market and society, the
right to choose, whether between suppliers of goods and services, political
parties and candidates, or between alternative media of exchange, effectively
promotes the general welfare;
WHEREAS, for the equal protection of all
people, rich and poor, the open circulation of complementary and competing
currencies should be fostered and promoted by every sovereign state,
including those of The United States of America pursuant to their monetary
powers (expressly reserved in article 1, § 10 and in the 10th amendment
of the United States Constitution) to monetize gold and silver coin as an
alternative, voluntary medium of exchange, and as an effective check and
balance against debasement of the national currency by the national
government which is constitutionally precluded from demonetizing state legal
tender, through disparate tax treatment, discriminatory regulation, the
threat of suppression and seizure, or otherwise;
NOW THEREFORE, we the undersigned hereby
declare and affirm that:
1. As an essential element of true
liberty and of the pursuit of happiness in a free society, all people enjoy
the inherent and unalienable right to lawfully acquire, hold and use as a
medium of exchange whatever form or forms of money they may prefer, including
especially gold and silver coin.
2. All free and sovereign states bear
the moral, political and legal obligation not only to refrain from debasing
their own currencies (except under the most exigent circumstances) and from
erecting barriers to the unfettered circulation of monies issued under the
authority of their sovereign trading partners, but also to affirmatively
defend and protect against fraud, counterfeiting, uttering, passing off,
embezzlement, theft or neglect by requiring full transparency and
accountability of all state chartered financial institutions.
3. No tax liability nor any regulatory
scheme promoting one form of money over another should apply to: (a) the
holding of any form of money, in a financial institution or otherwise; (b)
the exchange of one form of money for any other; or (c) the actual or imputed
increase in the purchasing power of one form of money as compared to another.
4. Except in the case of governmentally
assessed taxes, fees, duties, imposts, excises, dues, fines or penalties, the
authority of government should never be used to compel payment of any
obligation, contract or private debt in any specific form of money
inconsistent with the parties’ written, verbal or implied agreement, or
to frustrate the intent of contracting parties or impair contractual
obligations by invalidating the application of a discount or surcharge agreed
to be dependent upon the particular medium of exchange or method of payment
employed.
5. The extent and composition of a
person’s monetary holdings, including those on deposit with any
financial institution, should not be subject to disclosure, search or seizure
except upon adherence to due process safeguards such as requiring an adequate
showing of probable cause to support the issuance by a court of competent
jurisdiction of a lawful warrant or writ executed by legally authorized law
enforcement officers.
We hereby urge business leaders,
educators, members of the media, legislators, government officials as well as
judicial and law enforcement officers to use their best combined efforts to
reinstate and promote the legal and commercial framework necessary to
establishing and maintaining well-functioning, sound monetary systems based
on choice in currency.
The signatories hereto concur in the
general principles expressed in the foregoing declaration notwithstanding
specific reservations some may have as to how such principles should be
interpreted and applied in practice.
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