Time: Tue Dec 02 13:43:55 1997 To: dschell@ac.net From: Paul Andrew Mitchell [address in tool bar] Subject: SLF: No more bailouts: My program for economic recovery. Cc: Bcc: sls, friends, liberty lists, 3cc, psc References: Dear Doug, Here is my program: #1: abolish federal income taxes on all federal employees, by Act of Congress, in light of fraudulent motives for the Public Salary Tax Act of 1939; #2: implement #1 by issuing an E.O. to stop withholding at once, and to cease/desist income tax returns by these employees; #3: anticipate increased upward pressure on prices, by issuing silver bonds from the United States Treasury, in 1-, 2-, and 3-year maturities @ above-market rates; encourage public agencies to buy these bonds; authorize U.S. Mint to begin bulk silver purchases, and accelerated minting of solid silver coins; #4: recall all Federal Reserve Notes ("FRN's") within 3 years, and issue regulations for all FDIC-insured banks to comply over-the-counter, at teller windows (target: 1/1/2001); #5: begin printing U.S. Notes in sufficient quantities, to replace all FRN's, one-for-one, using "bearer bond" rules, i.e., no I.D. or Cash Transaction Reports required; U.S. Notes will be an interim measure, to be replaced after 3 years by silver and gold certificates; #6: use Federal Register to publish official AFFIDAVIT OF EXEMPTION FROM WITHHOLDING IN LIEU OF W-4, with regulations for executing and submitting same to all private employers, anywhere in the state zone or the federal zone; #7: submit to Congress the proposed "New Amendment," abolishing the so-called 14th amendment and making state Citizenship available to everyone, regardless of race; the validity of the public debt will thereby be brought into question, permitting discharge in a competent U.S. Bankruptcy Court, convened for this specific purpose; Congress can assist by issuing special rules for appeal directly to a 3-judge panel on the District Court of the United States. /s/ Paul Mitchell, Candidate for Congress http://supremelaw.com At 12:14 PM 12/2/97 -0500, you wrote: >As usual, Pat is on target concerning an issue that >will economically rape the middle class of the USA. I >think this bailout is the MOST obnoxious of all. >Bailing out banks and countries which have devastated >much of the industrial base of the USA through less >than fair practices. If this occurs, good buy middle >America as we have known it. > >What say ye? > >Doug > >Dr. Douglas W. Schell >Professor of Business and Economics >The University of North Carolina- Pembroke >1709 Crest Dr. >Aberdeen, NC 28315 >(910) 944-5757 (home) >(910) 521-6463 (office) > ><---- Begin Forwarded Message ----> >Date: Mon, 1 Dec 1997 19:58:30 -0500 (EST) >From: Right from the Beginning ><haffs@river.it.gvsu.edu> >To: linda <linda@networkusa.org> >Subject: No More Bailouts--Abolish the IMF! (fwd) > > >NO MORE BAILOUTS -- ABOLISH THE IMF! > >by Patrick J. Buchanan > > December 1, 1997 > >If the people of South Korea were starving, Americans >would send food. If they were victims of a natural >disaster, an earthquake or typhoon, planeloads of >American doctors and nurses, shiploads of medicine and >supplies, would be instantly on the way. > >But Asia's financial crisis is not a natural disaster; >it is man-made, the work of corrupt and incompetent >political elites, crony capitalists and idiot-investors >who deserted their own countries to chase hot profits >in Asia. Obligations of charity do not apply here. >What these avaricious bankrupts want Americans to do is >to pick up the hotel and bar bills from their >decade-long orgy. No thanks. > >Ask yourself: Why does Seoul suddenly need $20 billion? >Is it because Koreans are suffering? No. South Korea >needs $20 billion pronto because it has $20 billion in >short-term loans coming due by year's end. Korea hasn't >got the cash, and its creditors are howling. > >The IMF bailouts of Korea, Thailand and Indonesia, >which could put Western taxpayers on the hook for $100 >billion, are to save the faces of these Asian regimes >and the fannies of "investors" who want back >every dime they put up -- without missing a payment. >When you know who is holding that $20 billion in debt, >you will know for whose benefit the Global Economy is >designed to work. > >But why should U.S. taxpayers be put on the hook by the >IMF, to make good failed Asian investments? Let those >who made the hot profits in Asia eat the losses. Let >the market work. Let the Asian debtors and >their creditors negotiate themselves the terms of >repayment, and keep U.S. taxpayers out for once. > >The hour is at hand for Congress to run a sword through >this corrupt global system. All we need do is follow >the counsel of ex-Treasury Secretary Bill Simon, the >Heritage Foundation, and the American Enterprise >Institute, and kill the IMF. Then the gods of the >markets can rule again. Don't our free traders believe >in that? > >This November, in a courageous act, the House voted >down Mr. Clinton's request for $3.5 billion to >replenish the funds of the IMF. Prediction: Mr. Clinton >will come back from Vancouver Asia-Pacific summit and >demand even more money to bail out Robert Rubin's Wall >Street buddies. But if Congress will hold firm and deny >the White House another dime for the IMF, it can strike >a mortal blow against a system crafted to endlessly >loot the American nation of its wealth. > >What is the IMF? It was created At Bretton Woods in >1944 as a fund from which governments could borrow to >maintain the fixed rates of exchange of their >currencies. But in 1971, Richard Nixon took America >off the gold standard; the exchange-rate system broke >down; the dollar and other currencies were allowed to >"float" in a free market. The need for an IMF was over. > >But the IMF refused to fold its tent. It set itself up >as overseer of the Global Economy and lender of last >resort to bankrupt regimes. Four times since 1970 the >IMF has bailed out Mexico. In the last bailout, the IMF >gave $17 billion in fresh loans to enable President >Zedillo to pay off his New York creditors, who thus >walked away from their risky loans, while American >citizens are now exposed to the lion's share of that >$17 billion. > >How is Mexico to repay the IMF? The devaluation of the >peso by 50 percent doubled the price of U.S. goods in >Mexico and cut by 50 percent the price of Mexican >exports. Devaluation thus wiped out the tiny U.S. trade >surplus. And when U.S. companies saw the price of >Mexican labor had been cut in half in dollars, they >laid off their workers, shut down their U.S. plants and >headed south for the Rio Grande. > >This, then, is the great trade-off of the Global >Economy: Wall Street gets reimbursed, while Main Street >loses its export market, its factories and its jobs, >and is put on the hook by the IMF, so "investors" on >Wall Street do not have to swallow really big losses. >We do it all -- to make the world safe for Goldman >Sachs! > >The Global Economy is like a high-stakes poker game, >where the big players pocket their winnings, while the >"house" -- i.e., the taxpayers -- makes good their >losses at the end of a bad night. > >To do in Thailand, Indonesia and South Korea what it >did in Mexico, the IMF will need billions more in >lending authority from the U.S. government We ought not >let this happen. The looting of our country >must stop. And it can be stopped, if the agencies that >thieve and redistribute U.S. wealth -- the IMF and >World Bank -- are denied all power to put at risk the >credit of the American people. > >Time for Congress to end these bailouts, privatize the >World Bank and abolish the IMF. > >c Patrick J. Buchanan > > > ><---- End Forwarded Message ----> > > > > >
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