Time: Wed Dec 03 10:50:34 1997 To: From: Paul Andrew Mitchell [address in tool bar] Subject: SLF: No more bailouts: My program for economic recovery. Cc: Bcc: sls, liberty lists, friends References: <3.0.3.16.19971202134356.31ff3292@pop.primenet.com> 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 http://supremelaw.com 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: >[snip] >> #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. > >=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= >Unsub info - send e-mail to majordomo@majordomo.pobox.com, with >"unsubscribe liberty-and-justice" in the body (not the subject) >Liberty-and-Justice list-owner is Mike Goldman <whig@pobox.com> > >
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