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  1. TopTop #1
    Iolchan
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    How to Bring Economic Democracy to the U.S.A.

    How to Bring Economic Democracy to North America:

    AMENDMENT XXVIII


    Money and Credit - Congress Asserts Power To Coin Money, and Emit Bills of Credit

    [SECTION 1.] The Congress hereby asserts the power, granted in this

    Constitution, to coin money, and to regulate the value thereof. - And further,
    to emit non-interest-bearing bills of credit directly through the Treasury
    Department (on the Credit, and in the Name of the People).

    [SECTION 2.] The Congress hereby authorizes the Treasury to issue a

    sufficient quantity of "dollars" to purchase back the capital stock of the
    Federal Reserve Bank from the private owners, by eminent domain.

    [SECTION 3.] The Federal Reserve Bank shall henceforth be subsumed into the
    Treasury, and function as a Sub-Treasury Central Bank of issue. Henceforth they shall be one institution, and be called, formally, the Treasury of the Common-wealth of the United States of America, or commonly, "The Treasury of Common-wealth."

    [SECTION 4.] The Treasury of Common-wealth, as the fountainhead of Credit-
    Creation in the nation shall henceforth issue as Money only non-interest-bearing Notes, and Mint coins of pure Specie, stamped with their weight and fineness. The books, accounts and records of the Treasury shall continually be open to public scrutiny.

    [SECTION 5.] The Treasury of Common-wealth shall honor, and continue to pay
    (by means of non-interest-bearing notes, and checks) the interest on all out-standing U. S. Treasury Securities, as they come due. There shall be no further issues of Treasury Securities, or Bonds.

    [SECTION 6.] The State Treasury departments, of each of the fifty States, are
    also hereby empowered, by the same creative principle [formerly given by charter to banks] to create Credit within their own jurisdictions, in the form of checks, signed by the State comptrollers, but only in accordance with appropriations made by the State legislatures, for the purpose of "providing for the general welfare" and maintaining State institutions, infrastructure, and salaries.

    [SECTION 7.] In accordance with the provisions of this Article, all banks and

    financial institutions in America shall receive new charters from the Treasury. The Treasury shall henceforth have the unique and sole power within the nation to create Credit - a function formerly granted by the government (and thus erroneously delegated) only to Banks. Henceforth private banks may charge interest, to service accounts.

    [SECTION 8.] In Sum, this Article defines, and enhances the powers granted to
    Congress and the Treasury, under Article I, Section 8, Clause 5, of this Constitution. Furthermore, it amends and modifies Article II, Section 10, Clause 1, to empower State Treasuries to create (a limited amount of) non-inflationary Credit, in the form of check book money in order to meet the budgetary needs of the states.

    www.paleoprogressives.org
    Last edited by Barry; 09-30-2007 at 01:07 PM.
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  2. TopTop #2
    purplepig
     

    Re: How to Bring Economic Democracy to the U.S.A.

    There is a very interesting web site called brasschecktv.com sign in, go to the index of video clips [some short, some full length] You will be glad you did.

    Quote Posted in reply to the post by Iolchan: View Post


    A Proposal that Would Require the Following Amendment to the
    Federal Constitution:...
    Last edited by Barry; 09-30-2007 at 12:38 AM.
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