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The American Crisis: To Free a Lender-Owned Nation (Part 1)

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[9]   Contrary to popular belief, the constitutional record is perfectly clear re the inclusion of the sovereign's fiat paper money power.   Every Supreme Court decision has upheld the power.   The first cases, e.g. Bronson v. Rodes, 74 U.S. 229 (1868), many tout as having held paper money unconstitutional.   But they affirmed the power, except re bullion contracts agreed before the legal tender act was passed. Even this limit was soon overruled.   See, e.g: Gregory v. Morris, 96 U.S. 619 (1877); Juilliard v. Greenman, 110 U.S. 421 (1884). The constitutional record is plain. On August 16, 1787, the Framers' final money powers vote delisted "paper money" lest it "excite the opposition of the" monopoly-bent "Monied interest," and be used to exploit the public's aggravated paper-money phobia, so as to altogether exclude it.   Before voting, Madison secured explicit agreement that this did "not disable[e] the government from the use of public notes as far as they could be safe and proper."   U.S. Const., Art. I, Sec 8.   See Madison's Notes of the Debates , 470-471 .   Throughout the ratification debates, the sovereign's fiat paper-money power was well understood, albeit solely as a prerogative of the far more responsible federal government.   See The Debate On The Constitution, part 2 at 94, 110, 148, 422-423, 476-477, 639-640, 659, 678.   See also Paper Money and the Original Understanding of the Coinage Clause , Robert Natelson, Harvard Journal of Law & Public Policy, Vol. 31 No. 3 (2008).

[10] "Treasury securities held by foreign and international investors represented an estimated 46% of debt held by the public."  GAO audit of the public debt, November 2011 , page 5.   International and foreign shares in the Fed, and so implicitly in the treasuries it owns, presumably put the operationally offshore ownership well above 50%.   Today, these foreign-owned forces operate within, draining technology, jobs, and money.   How could "free" private capital not run to reliably higher profits from third world sweat-shops and bank-blessed tax havens?   Overseas financing and capital flight manifest today's alien invasions.   Tax Haven U.S.A. Attracts Over $3 Trillion In Foreign Dirty Money (Nicholas Shaxton, March, 2011) ironically evidences yet deeper corrosion.


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Clifford Johnson is a semi-academic naturalized Brit. He first entered the U.S. as a rah-rah Harkness Fellow. For theater, language, and also as a questionable ex-Brit, Johnson adopts a Tom Paine II persona. His activist credentials comprise serial (more...)

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To restore the greenback as new issues of United S... by Clifford Johnson on Tuesday, Jan 3, 2012 at 5:07:00 PM
Clifford asks, "Are there any advantages, other t... by Derryl Hermanutz on Thursday, Jan 5, 2012 at 5:39:48 PM
"Greenbacker" lawsuit seeks to correct Treasury mi... by Clifford Johnson on Monday, Jan 9, 2012 at 10:10:49 PM
Excellent work... now how do Greenbackers (includi... by Robert Cogan on Thursday, Jul 12, 2012 at 7:40:56 PM
I will do my level best to make a media event of t... by Clifford Johnson on Wednesday, Jul 25, 2012 at 11:06:49 PM