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

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 To Free A Lender-Owned Nation

The rich ruleth over the poor, and the borrower is servant to the lender. Proverbs, 22:7  

Part I.   Greenbacker Lawsuit Highlights 21-Year Treasury-Fed Coin-Swap Cover-Up

An 1862 "greenback"

This is the first of four articles writing up an activist litigation that I filed in federal court in San Francisco on December 28, 2011, against the U.S. Treasury.   Johnson v. Department of the Treasury of the United States, et al. , case No. CV11 6684   (NJV).   The suit alleges suppression of debate re great benefits that the government would automatically gain from replacing Federal Reserve notes with new issues of United States notes.   

Part I introduces the issues.

Part II will present the lawsuit's scaffolding of facts and law, that raises the issues.

Part III will detail the Treasury-Fed Coin-Swap Cover-Up.

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Part IV will add context.

 The 1862 greenback's green back

1.   The Subprime Dollar

Ha! Ha! Ha!  How very funny!   We don't even own our money!

[Greenbacker slogan]

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Why is today's dollar bill like a mini-subprime mortgage?   Because the "UNITED STATES OF AMERICA" caption on both sides, the picture of George Washington and signatures of the "Secretary of the Treasury" and "Treasurer of the United States" on the front, and the "Great Seal of the United States" set symmetrically in green lace on the back;  all these, in conjunction with misleading language in the1913 Federal Reserve Act, reflect a design to win the controlling votes of Greenbackers and satisfy the public by inducing belief that the act restored the original Lincoln greenbacks ; [1]     whereas, the small-print "Federal Reserve Note" in the front's top margin is all that counts.  

However, today's dollar bill not just another national bank note.   The 1913 act institutionalized it as a private-bank monopoly, backed by the nation's credit.   In 1971, when Nixon took the U.S. off the international gold standard, the Treasury had been redeeming notes in gold, not the Fed.   Now, as a fiat currency, the Fed garnishes the face-value of each note as a flat tax paid upon issuance.   The Fed pays the Treasury only the printing cost, which is about seven cents per bill.  

Each bill enters circulation the only way allowed under the law, by a bank lending it at interest.   Got it?   Banks are automatically owed more dollars than there are dollars in circulation.   One man's wealth is many men's poverty, as a matter of arithmetic finality.   Assuming the moral high ground, banks of course demand full repayment, even when and where they have taken back money, absolutely reducing the amount locally available.    Those not bankrupted, evicted, prosecuted, or blackballed for perforce coming up short, are merely fleeced.   A chorus of baa-baas follows the Fed.   Beware of the sheep.

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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