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Audit the Fed?

 

A popular movement in many conservative circles is the idea of auditing the Federal Reserve as a way to bring public attention on the harmful institution. This plausible argument has had ill luck in Congress whenever the occasion arrives that a congressman introduces a bill for this purpose. Most politicians are afraid to mess with the gigantic monetary establishment.

Auditing the Federal Reserve would undoubtedly reveal corruption, waste, and fraud, at least to a minor degree, that violates current laws on Fed policies. But the most blatant fraud of all is actually protected by current laws: the bankers who are in control of the Fed are enabled to have a worldwide monopoly—at the common man’s expense. The fiat money called Federal Reserve Notes, a fraud in itself, is wholly in the hands of of the international bankers and monetary scientists, and they manipulate it from many angles to their own advantage. They engage in inflation through fractional reserve banking, which means loaning out money they haven’t even printed (it is debt-created money; if the debt is paid off, the money supply decreases). And this fraud is actually legal!

So while the audit would not accomplish a lot for conservatives, and may even put people back to sleep, who are satisfied that the Fed is obeying the law, the audit might actually do some harm for our country.

For example, if an Audit the Fed bill were really to make it through Congress by some stroke of luck, the actual audit would likely take years and years to conduct, and then, in the words of G. Edward Griffin in his masterpiece The Creature from Jekyll Island,

“By the time fourteen volumes of testimony, charts, tables, and exhibits finally appear, the public would be intimidated and fatigued.”

And in the meantime, conservatives would feel that the Fed was being taken care of, and that Congress was doing their job. Constituents would be deceived in this matter.

What really needs to be done is something much more radical, something that involves real action: the entire Federal Reserve System needs to be completely abolished. Since its inception in 1913 with the Federal Reserve Act, the Fed has manipulated the economy, inflated the money supply, and loaned vast amounts of money both to our own government as well as many foreign despotic regimes whose experiments in socialism/totalitarianism have utterly failed—all at the American taxpayer’s expense, of course. Inflation is a relatively safe way to steal from the average American’s pocketbook undetected, for as John Maynard Keynes said about debauching currency, “…not one man in a million is able to diagnose [it].”

And that is what the fraudulent banking elites depend upon in order to continue the economic manipulation and vast power they currently enjoy: the ignorance and apathy of the American public, who, by and large, are too focused on things of little-to-no real importance.

If sufficient numbers of Americans can be educated and informed—woken up—and organized into an educational army dedicated to restoring obedience to the U.S. Constitution, then it is not too late for the monetary powers-that-be, who wield considerable wealth and power, to be dethroned and their power stripped from them.

In the 1830’s war over the abolishing or preserving of the national bank, Nicholas Biddle, head of the Second National Bank of the United States, in his political battle with Andrew Jackson, whose second presidential campaign focus was to abolish the national bank, boasted, “All other banks and all the merchants may break, but the Bank of the Untied States shall not break.”

Jackson’s stalwart reply to the public was, “Bank and no Jackson, or no bank and Jackson!”

In spite of Biddle’s deliberate causing of economic turmoil by decreasing the money supply in order to frighten the public into thinking the Bank necessary, Jackson and the anti-national bankers (Thomas Jefferson’s political heirs) eventually won out, and the Second National Bank of the United States ended, and the national debt was entirely paid off. The nation also went back to the gold standard, which created true economic stability and prosperity, after the harmful effects of the national bank had worn off.

It can be done today, too! The banking cartel’s legal monopoly can be dismantled and the Federal Reserve System can be abolished. It will take hard work educating ourselves and our circles of influence on free market economics and the giant fraud called the Federal Reserve; and as in Jackson’s day, the bank will fight like crazy to stay in existence, perhaps including planned chaos in their strategy, which will affect the whole nation. But if we are to return to the free market and sound money, with no legally protected cartels, then it is necessary, not that we simply audit the Fed, but end the Fed!

For more information:

Read Griffin’s The Creature from Jekyll Island – A Second Look at the Federal Reserve, available here https://www.jbs.org/store/shopjbs/the-creature-from-jekyll-island This excellent book reads like a detective novel, believe it or not. The most interesting book about money or the Federal Reserve you are likely to find anywhere. This 608 page book gives you the background story on money, the people behind the creation of the Federal Reserve, seven reasons why the Fed should be abolished, the history of the national banks in our nation before the Federal Reserve came along, what we can do about it, and much more. A fascinating, educational read written in easy-to-understand language, not bankers’ jargon. I will never look at banks the same again.

The Dangerous “Silver Bullet”

There is a nationwide push for a Constitutional Convention in America today (also called a “Convention of the States” or an “Article V Convention”) and it is being sold to the public as the “silver bullet” that will solve America’s problems. Conservative proponents say a Con-Con will reign in Congress and balance the budget. There are many significant points to consider before supporting this drastic measure, however. First, there has not been a Con-Con since the Convention of 1787 that founded America as a Constitutional Republic. Some proponents of the Con-Con claim there have been multiple conventions throughout America’s history. The truth is, this tool found in Article V has never been used, and for good reason. Let’s take a look at Article V.

What Article V Really Says

“The Congress, whenever two thirds of both Houses shall deem it necessary, shall propose amendments to this Constitution, or, on the application of the legislatures of two thirds of the several states, shall call a convention for proposing amendments, which in either case, shall be valid to all intents and purposes, as part of this Constitution, when ratified by the legislatures of three-fourths thereof, as one or the other mode of ratification may be proposed by the Congress: Provided…that no state, without its consent, shall be deprived of its equal suffrage in the Senate.”

That’s it! Article V does not authorize the states to do anything but submit applications to Congress for a convention. Who calls the convention (and thereby sets the time, place, and rules, chooses delegate selection, etc.)? Congress! Yet proponents often claim that the states will be able to control the convention. Once the convention is called, it is completely out of the states’ control.

Could A Convention Be Limited To A Single Topic?

Article V says “Congress…shall call a convention for proposing amendments”, while proponents (particularly Balanced Budget Amendment advocates) insist such a convention may be limited to a single topic. On such a serious subject it is very dangerous to imagine regulations and safeguards in Article V that simply aren’t there. Will the delegates view themselves as bound to a single topic alone when no such restriction can be found in the Constitution? Hardly.

Once a convention is called, there is no limit to what they might do. Here’s a frightening thought: consider how power-hungry politicians would love to see our Constitution replaced with a document that would allow them to do whatever they wished. This would be the most likely scenario played out should a Con-Con be called.

Balanced Budget Amendment

Conservatives who are in favor of a Con-Con generally support what is commonly called a “Balanced Budget Amendment” (BBA). Advocates fail to realize how absurd it is that Congress, who is not following our current Constitution, would not be any more inclined to follow a stricter budget amendment.

There is a way we can balance the budget. Simply require Congress to obey the Constitution! If the U.S. government followed the Constitution they all swore oaths to obey, according to Mr. Chris Stevens, “The government would be 20% its size, 20% its cost, and it would solve 80% of our problems.”

Even calling a convention for the purpose of writing an amendment that sounds good, such as the BBA, would still inevitably bring with it the problem of a runaway convention.

Ratification

Ratification—the last protective measure in case anything bad does come out of a convention—¾ of the states still have to ratify it…and ¾ of the states would never ratify anything bad, say proponents. Whew! But wait…three-fourths of the states have ratified bad amendments before (ie., 16th & 17th Amendments). They cannot and should not be our last defense against bad amendments that could come out of a Con-Con.

There is another reason the state legislatures can’t be a last resort. The convention can change the rules for ratification in an effort to make it easier for their new Constitution to be adopted.

In fact, changing ratification rules are the precedent. In 1787 at the Constitutional Convention they changed the rules for ratification from the previously required unanimity to requiring ¾ of the states to ratify the new Constitution.

Does Article V forbid a Constitutional Convention from changing ratification rules? No. And this possibility, made even more likely by the precedent, makes a convention even more dangerous.

The Real Solution

The only thing that could come out of a Constitutional Convention would be a changed—or even completely rewritten—governing document. This is most certainly not the “silver bullet” to solve the many problems facing our nation today. There is, in fact, no “silver bullet”, although human nature tends to search for the easy way out of things. Restoring our Republic will take much time and effort in educating ourselves as well as our friends and neighbors. Yet this is where the solution lies…We the People.

Didn’t our Founding Fathers already write a document that has served our Republic well through the years (especially when it was followed)? We do not need to rewrite the Constitution, we need to enforce the Constitution.

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For more information read these articles:

http://www.thenewamerican.com/usnews/constitution/item/21626-the-new-bba-con-con-threat

http://www.thenewamerican.com/usnews/constitution/item/20176-the-solution-is-the-constitution-not-article-v

http://www.thenewamerican.com/usnews/constitution/item/19082-republicans-and-democrats-working-together-to-rewrite-the-constitution

Watch this video:

http://click.icptrack.com/icp/relay.php?r=54431872&msgid=458922&act=34TQ&c=783829&destination=https%3A%2F%2Fyoutu.be%2FIf0IXYj7jNY

Find out how to join in the effort to stop a Con-Con and preserve our Constitution and our liberties!

http://67.227.136.223/~adserve/www/delivery/ck.php?oaparams=2__bannerid=1972__zoneid=7__cb=c9769ff80a__oadest=http%3A%2F%2Fwww.jbs.org%2Fissues-pages%2Fno-con-con