How is borrowing the currency with interest from private bankers in the best interest for the country?

The U.S. government does borrow far too much. This fiscal irresponsibility is not defensible... as are many of your allegations.

- Re: How is borrowing the currency with interest from private bankers in the best interest for the country?

Actually a relatively small percentage of the U.S. Debt is purchased by private domestic bank.

Out of the $9T of debt outstanding, domestic banks own about $110B, about 1.2%. Foreign entities own about $2.2T. About half the debt is held by other government entities with Social Security is the biggest holder. (Ref: http://www.fms.treas.gov/bulletin/b2007-4ofs.doc )

- Re: How is borrowing money from the Federal Reserve ...?

The Government does not borrow from the Federal Reserve. All U.S. Debt owned by the Federal Reserve was purchased on the open market, i.e. previously issues debt that was owned by the public.

It should be noted that 90%+ of the interest paid to the Federal Reserve is returned to the Treasury at the end of the year. For bonds held by the public, none of that interest is returned.

- Re: Why doesn't the government print its own money avoid putting its people in debt?

Such thinking of 'printing ones way out of debt' has driven countries into hyperinflation. Virtually every instance of hyperinflation was caused by such thinking.

- Re: the only countries that do own their own currencies are Cuba, North Korea, Iran, Iraq (not for long), Sudan and Lybia.

You may want to add the U.S. to your list. Last time I checked, U.S. currency was printed by the Treasury Department's Bureau of Engraving.

Yes, he put in place the system that is being used to loot and destroy our country. I have heard the arguments against gold and silver many times but they do not hold up. Gold and silver backed currency is the only way to limit goverment. With our present Federal Reserve system, privatley owned, the owners control this country.The only president since Wilson who recognized this fact was President John Kennedy. He issued silver certificates by executive order thus competing directly with the Federal Reserve. Since silver certificates were backed by something other than good faith eventualy it would have put the Fed out of buisness. We all know what happened next. With in a few months of President Kennedys death the Fed took all the siver certificates out of cirrculation. No other President or politician has since challenged the awsome power of the Fed. Except for my hero. Congressman and Dr. RON PAUL

It isn't and never has been.

The federal reserve is essentially a group of PRIVATE individuals making decisions about monetary policy. They are accountable to no one and have no oversight.

The policies led by this bank has led to more than one problem in the past. Indeed more recently the extreme lowering of interest rates played a part in both increasing inflation and lax borrowing principles.

And again, there is only one candidate who is talking about a serious overhaul to the monetary and that's Ron Paul. He wants to dissolve the Fed, but baring that he would at least institute oversight to make sure what they were doing is in the best interest for the American people.

He also wants to return our monetary system back to a commodity based currency instead of this fiat system we have now, which allows the government to just print money out of nothing. That in turn leads to inflation do to devaluation of the dollar, making the money you have worth less.

Once you start looking at it the system is not a healthy. But how many people do you think understand the nuances of money system or Austrian economics? Perhaps if more people in congress did we wouldn't be in this mess.

~X~

It's not. it is in the best interests of corporations and politicians. they simply borrow money at will and do not have to pay it back, the people do. it is like me going to the bank and borrowing all the money i want and the bank goes after my neighbors up the street to get their money back and those neighbors were not privy to the contract or unaware until it was too late. and if those neighbors refuse because it is not their responsibility to pay someone elses debt they point a gun at them or take their property. that is why wealthy people like police states.

RRRR

by borrowing money from the private bankers you tap into money that is already in the system.

by printing more money you devalue the dollar since you decrease the scarcity of the money meaning it will be worth less.

J.F.K. took us out of the federal reserve for 90 days and printed our own u.s. dollars then guess what they murdered him. Guess what 2 days later L.B.J. put us back in the federal reserve.

The world bank and the Clintons are two you better not mess with!

The question is a great one that no one as yet has answered in this country and do not want to even talk about---you see they are not borrowing dollars or money but are borrowing IOU's of the FEDERAL RESERVE--which has no way of redeeming same. For a more detailed explanation of constitutional dollars see:

--- In teaparty@yahoogroups.com, Christopher Hansen <sovereign@...>

wrote:

*I wrote the following email after speaking on the phone with

ASSEMBLYMAN (not Senator) Bob Beers. His answer is below my email.*

Hi Bob, (Assemblyman Beers)

It was GREAT to speak with you. What a treasure you are. I am glad

that

Steve Dempsey helped me to learn about you.

Besides the information about the dollar I wanted to give you an

invitation. *I have a TV show out in Pahrump,* Nevada. It is called

American Sovereign. We, my son Joshua and I, talk about liberty

solutions for individuals.* Would you like to be a guest? *We have

the

show live on Tuesday Nights at 7 PM on Channel 62 in Pahrump and we

have

been shocked by the number of people we run into that watch the show.

We

are recognized everywhere we go in Pahrump. It is rerun twice during

the

week.

Here are a few of the responses we have received from other elected

official and the Legislative Counsel Bureau (See attached). You may

also

want to read Good as Gold in Liberty Watch

http://www.liberty-watch.com/volume03/issue08/

When you compare this article to Senator Bennett's letter you can see

that Bobby Kahre was not convicted.

*As you can see none of them answer the question*. They side step it.

Those that answered it all are clear that a "dollar" is to be a unit

of

measurement, but they never tell you what the measurement is. I know

what a gallon is. I know what a foot is. I do not know what a dollar

is

although I know what it was in 1800 AD which means it can be clearly

defined.

To fail to define it is like saying that a distance is made up of

measurements but does not tell you which kind of measurement and then

demanding that you tell the government how many measurements per hour

you were driving? Is it a yard or a rod or a foot or inches a mile

etc.? We MUST know what a dollar is or all laws that contain the word

have no meaning. How can anyone judge the number of dollars they

received as campaign donations if Federal reserve notes are not

dollars

and the law does not tell Citizens what dollars are?

Senator Ensign's letter clearly states that a dollar *cannot be a

promissory note *and then clearly states that a *Federal reserve note

is

a promissory note.* This must mean that a Federal reserve note is NOT

a

dollar even though it seems to make such a claim, as you contend, on

its

face.

*Would that be your interpretation of what the Congressional Research

Service suggested form, told me? Is a Federal reserve note a

promissory

note and a promissory note is neither money nor a dollar?*

The most laughable section of the letter from Senator Ensign's office

is

when Mary Mason says the definition is of a dollar is "fluid." Can

you

imagine if the word "stop" was fluid? What is the word "theft" was

"fluid," or "fraud" or "murder" or "assault" was fluid? It would mean

ALL law was void for vagueness.

I have an email forwarded to me from Independent American Party

member

and former candidate Bret Ogilvie from Matt Griffin at the Secretary

of

State's office. It states: "The Secretary of State's Office has no

authority to assign a legal value to United States currency. As such,

and for the purposes of campaign finance in the State of Nevada, a

dollar is a dollar *as that term is defined by the United States

Government.* In the situation we discussed over the phone, a silver

dollar minted in any year by the United States Government has the

value

of a dollar. I hope this information is of help."

It is obvious, to date, that the United States Government has NO

definition for the word dollar. So we are still in search of ACTUAL

answers to the following questions: *

1) What can I tell the Independent American Party Candidates on how

to

file election finance forms when the form asks about dollars received

and/or spent?

*2) Can I rely upon the letter from the Department of the Treasury

(attached) that states clearly that a Federal reserve note is NOT A

DOLLAR?

3) What is the Congressionally defined definition of a "dollar?"

4) What law defines what a dollar, not the decimal system, is?

5) What law defines the value of a dollar? (Not in general but the

exact specific law)

6) What is a Federal reserve note, if it is defined in some other

manner than the definition found in Senator Ensign's letter and the

letter from the Department of the Treasury?

7) What law makes a Federal reserve note the standard by which

other

forms of legal tender are judge or measured?

8) What law makes any specific type of legal tender currently

being

minted or printed the standard by which other forms of legal tender

are

judge or measured?

9) Are silver and gold coins currently minted by the United States

Mint with their "value" in "dollar[s]" minted on their reverse sides

property or money?

10) Are the coins minted by the Federal Government and authorized by

Congress since 1896 AD that are silver and gold and have

their "value"

minted on their reverse sides as per 31 USC Sec 5112 dollars or

property?

11)What evidence does the government have that Federal reserve notes

are

redeemable in something of value when brought in for redemption as

per

12 USC Sec. 411 01/02/2006

Sec. 411. Issuance to reserve banks; nature of obligation;

redemption

-STATUTE-

Federal reserve notes, . shall be *redeemed in lawful money* on

demand

at the Treasury Department of the United States, in the city of

Washington, District of Columbia, or at any Federal Reserve bank.

12) If Federal reserve notes cannot currently be redeemed

in "lawful

money" which according to Senator Ensign's letter cannot be a note as

per "American Jurisprudence, Volume 36, A§ 8 [T]he term "dollar"

means

money, since it is the unit of money in this country, and in the

absence

of qualifying words, it cannot mean promissory notes or bonds or

other

evidences of debt. The term also refers to specific coins of the

value

of one dollar. (27 Ohio Jur pp . 125, 126, A§ 3), (United States v.

Van

Auken, 96 US 366, 24 L ed 852),"

And I might as well ask:

13) What is lawful money so we can redeem the Federal reserve notes?

*So there you go Assemblyman Beers!* Do your best and you can count

on

me to spread the word that YOU are a man that cares about the

Constitution and your oath to uphold it against domestic enemies.

Thank you and thank you again. *You are a treasure!*

Christopher Hansen, State Chairman of the Independent American Party

with 799 Active voters in District 21. Remember that you will be

helping

not only these Independent Americans but every liberty loving American

*

ROBERT BEERS wrote:*

*

Thank you for the kind words, Christopher. You carry a very

interesting

conversation and it was a pleasure to actually meet you. I had the

opportunity to watch you interact with a few people during the

Governor

candidates debate. You were entirely correct in your call for

equality.*

*I would be happy to be a guest. Is it possible to get directions?*

*On the questions regarding what a dollar actually is, I sent you a

formal letter on the proper stationary for your use in the courts. I

broke things down into very specific terms as to what the value was

and

how that has degraded and also how the Secretary of the Treasury, the

official actually designated to retain our currency's value, has not

upheld his part of the bargain. As for filing..? I doubt I would be

of

much help in that regard. I speak the language of freedom and those

officials speak bureaucratese. I have tried to break down a few of

those

barriers and it is a tough battle. I was one of the few who voted

against both the Assembly and Senate pork bills and the folks at

Liberty

Watch put out a wanted poster on me. I found out later that some of

those receiving pork were very high up in both the major parties. Ah

well, I prefer honesty. You don't get rich quick, but you also don't

burn at the end.*

*Assemblyman Bob Beers*

>

>

--- End forwarded message ---