Saturday, November 22, 2008

10 Planks of the Communist Manifesto: #5

The 5th Plank:


This brings us straight to the Federal Reserve Banks. The basis of the Federal Reserve Note is debt. It is a promissorry note based on 'The full faith and credit of the United States,' and as such it lacks gold and silver backing. Gold and Silver Certificates, redeemable in coin or bullion, which were not notes nor are such certificates 'fiat' money, were eventually withdrawn from curculation.

The government 'borrows' these notes (they didn't borrow anything of value) merely by printing them to pass on the debt to the people and you will notice how huge the federal debt is. All for the cost of printing these paper notes.

In the Law of Moses and in the first 150 years of the United States of America, people used gold and silver coins which have intrinsic value.

The Federal Reserve Bank has a monopoly on issuing currency today, despite and in violation of Article I, Section 10 of the United States Constitution for the 50 United States of America:

"No State shall make anything but gold and silver coin a tender in payment of Debts."

This is fiat paper currency tht is distributed through the local banks.

What Happened to the Gold?

The Gold Confiscation Of April 5, 1933: Forbidding the 'Hoarding' of Gold Coin, Gold Bullion and Gold Certificates..

"By virtue of the authority vested in me by Section 5(b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, I, Franklin D. Roosevelt…prohibit the hoarding gold coin, gold bullion, and gold certificates within the continental United States by individuals, partnerships, associations and corporations…the term 'hoarding" means the withdrawal and withholding of gold coin, gold bullion, and gold certificates...”

'Hoarding' was defined as anything over $100.00...

“All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except:

“Whoever willfully violates any provision of this Executive Order or these regulation or of any rule, regulation or license issued there under may be fined not more than $10,000, or, if a natural person may be imprisoned for not more than ten years or both; and any officer, director, or agent of any corporation who knowingly participates in any such violation may be punished by a like fine, imprisonment, or both.”

One must wonder what Americans thought of this measure, as they had for their entire lives, as had generations before them, held gold privately…

What happened to the Gold?

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