Time: Wed Dec 03 10:50:34 1997
From: Paul Andrew Mitchell [address in tool bar]
Subject: SLF: No more bailouts: My program for economic recovery.
Bcc: sls, liberty lists, friends
References: <>

My answer, in part, to the objections raised here
is this:

1.  gold bullion has been stolen by the families
    of the Federal Reserve Banks;  it remains
    scarce and expensive to mine;  and it might also
    require direct military action to recover;

2.  silver, on the other hand, has not been stolen
    by the families of the Federal Reserve Banks,
    and is plentiful in raw deposits concentrated
    in places like Nevada;  Congress should issue
    contracts, via the U.S. Mint, to begin bulk
    purchases/mining of these raw silver deposits;

3.  the guidance of monetary experts like Edwin J. Vieira
    will be valuable during this transition, e.g.,
    to monetize all silver and gold coins, regardless
    of the issuing country, via regulations published
    in the Federal Register;

4.  recalling FRN's is as much a symbolic gesture,
    as anything else;  I feel it would be more appropriate
    to legislate whatever changes are necessary to
    redeem U.S. Notes, but to remove FRN's from circulation,
    due to the fraudulent nature of the FRB;  FRB never
    redeemed FRN's anyway, even when they were redeemable!

5.  the creation of FRN's is directly tied to increases
    in the federal debt ceiling;  there is no such 
    connection between U.S. Notes and the debt ceiling,
    to my knowledge;  FRN's would be credited to the FRB,
    to offset the debt, but they would not be convertible
    by the FRB;  they would be burned by the U.S. Mint;

6.  we are contemplating a transition period of 3 years,
    maximum, in order to coordinate all necessary changes;

7.  the objective, of course, is to restore a constitutional
    money system, which anticipates that all paper money
    will be at least fiduciary, and all coins will be
    gold or silver (no clad or debased currencies, period);

8.  the biggest problem we must solve is the inevitable
    upward pressure on economic prices, as soon as
    withholding is stopped on the compensation of 
    all federal employees;  the silver bonds are an
    elastic mechanism to keep prices down, during the
    transition.  Nobody else has a feasible solution to
    this particular problem;

9.  to help stabilize this transition, I would also 
    issue legislation expressly prohibiting all banks from
    honoring any IRS Notices of Levy without a court-ordered
    Warrant of Distraint, pursuant to U.S. v. O'Dell and
    to the Fifth Amendment guarantee of due process of law;
    a one million dollar fine would be imposed on each bank
    violation of this prohibition;

10. Title 28 would be amended to prohibit judges from 
    presiding on any federal cases, immediately, until and 
    unless their W-4's were formally rescinded, pursuant to
    Article III, Section 1;  this rescission would 
    be mandatory, not voluntary, and criminal penalties
    would attach to their failure to do so.

See "Return to Constitutional Money" in the Supreme Law Library,
for essential historical background on these problems.

Thank you.

/s/ Paul Mitchell,
Candidate for Congress

At 09:26 AM 12/3/97 -0700, you wrote:
>On Tue, 2 Dec 1997, Paul Andrew Mitchell wrote:
>> Dear Doug,
>> Here is my program:
>> #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;
>Since in #5 you call for par redemption of FRNs, how can you
>possibly expect to restore the lawful 371.25 grains of silver
>per Dollar standard? Why not redeem FRNs and other national
>debt instruments in gold at whatever price necessary (currently
>that would be about $24,000/oz) and use lawful Dollars (silver)
>for nondebt money, with the exchange rate between the two
>monetary systems being determined continuously at market?
>It was a serious mistake that Congress had "dollar" values
>stamped on gold coins in the Coinage Act of 1792. Gold coins
>should have been left as 'Eagles', 'Half-Eagles', etc.
>Bimetallism only works if the exchange rate between the metals
>is left to float at market rather than being set by decree.
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