Two Proposed Amendments To The US Constitution: 28th Make Government Debt Illegal And 29th: No Fractional Reserve Banking.

If we start a dialogue about making all government debt illegal and ending fractional reserve banking, we can seize the initiative in the national debate about our future. I have heard lots of opinions from all walks of life about the dire circumstances of the economy and impending doom. Yesterday I was talking to several black people who told me most blacks still support Obama. I then said there are a thousand studies saying we need to cut world population down to a billion or even half a billion. A recent MIT study said they expect 90% of the people on this planet to die from starvation and plagues. A billion will die when the economy collapses and the 5 billion plus will die when the plagues come and kill the rest of the common folk. No explanation why MIT professors are expecting plagues unless they have federal government contracts.  I asked those black people how many blacks they think will be left alive after the Powers That Be kill 90% of us. That can be asked of any group of people.  You don’t have to ask men and women over 50. They know they are at the top of the ‘To Die’ list. But what is the life expectancy of an anti-war dissident? Or of someone who wants the Palestinians to be treated fairly?  Or what about someone opposed to being forced to eat Genetically Modified Organisms which do release pesticides into our bloodstream and do kill all animals in labs after 3 generations? Yes we need to continue that dialogue asking people if they think the Bilderbergers care enough about them to put them on the list of names whom they will allow to live.

But we also need to start a parallel dialogue about the future we will make for ourselves without the consent of the Powers That Be and the approval of the Mainstream or Corporate media.

On the top of my list for economic reforms is the abolition of all government debt. In the first phase we will have to cancel all state, local and federal debt and of course end loan guarantees. This can easily be done in America. All we have to do is to seize the assets of those who have been stealing  tens of trillions of dollars. And also seize the funds of all government agencies listed at http://www.CAFR1.com. I would also cancel $20,000 in personal debts of all US citizens. To spread the program worldwide I would seize all the money laundering banks for 72 hours in the Caribbean, the British Channel Islands and the Isle of Man. I would cancel the 20% British Value Added Tax. I would offer a £10,000 per citizen personal debt cancellation as well as government debt for the United Kingdom and the Republic of Ireland if they joined forces to help us cancel all government debts worldwide.

The logical step after debt cancellation is to pass the Amendment making government debt illegal. Under the current Federal Reserve and Bank of England systems, money can only be created after a debt or loan is made. Instead we would issue a debt free money so we would not need a loan to be taken out to create more money. The government can simply print money rather than print money and bonds promising bondholders to receive interest payments on money they created out of nothing. Checking account money in banks at the present time is created with a loan that requires interest to be paid. All of this is explained in the Notes below.

For the abolition of government debt system to work we would have to also abolish fractional reserve banking under which a thousand dollar deposit can be loaned out to create ten, twenty or even thirty thousand dollars in new check deposits balanced by loan agreements. This has led to an Unpayable Debt Bomb we now face which MIT said will kill a billion people when , not if,  it explodes. Government would create all printed currencies and checking account money.

Suppose the money supply is 10 trillion dollars and the economy is growing 5 % a year. Since prices generally reflect a ratio between money supply and goods and services for sale, we can increase the money supply at the same rate as the economy without expecting inflation. In other words if the economy is growing 5% and the money supply is 10 trillion dollars, then the government can increase the money supply 500 billion dollars this year and 525 billion dollars next year. The government can spend half of this money into circulation by repairing America’s crumbling infrastructure and the other half by reducing the burden on younger workers for social security taxes.

There are two economic schools that trace the cycle of Bubbles and  Depressions to fractional reserve banking. They are the Austrian school (Ron Paul) and the followers of Hyman Minsky (Steve Keen and Michael Hudson.)  See the Notes Below for an in depth explanation of fractional reserve banking and how I synthesize the works of the Austrians and Minsky.

We also have a lot of government worker retirement obligations to fund. I would prefer to make all pensions or promises to pay a certain pension amount in 20 or 30 years illegal. All money is to be transferred in to an account in your name at a trust association this year. These funds would permanently shift economic power away from the banks and the brokerages to us. This would offer everyone self-determination.

Debt cancellation of personal and government debts and the end of fractional reserve banking will end our current crisis and save a few billion lives which just might include yours.

Notes: This first article explains how debt based currencies and fractional reserve banking has doomed us to cycles of Depressions and inflation for centuries. It also synthesizes an economic theory based on the Austrian school and the followers of Hyman Minsky.

Professor Keen, The 11th Marble, Debt Based Money And Fractional Reserve Banking

https://vidrebel.wordpress.com/2012/05/01/professor-keen-the-11th-marble-debt-based-money-and-fractional-reserve-banking/

This next article goes into depth about the criminal nature of our current banking system.

The Federal Reserve From Creation in 1913 To Destruction in 2013

https://vidrebel.wordpress.com/2012/04/01/the-federal-reserve-from-creation-in-1913-to-destruction-in-2013/

https://vidrebel.wordpress.com/2012/04/01/the-federal-reserve-from-creation-in-1913-to-destruction-in-2013/

Catherine Austin Fitts On Genocide And The Looting Of America

https://vidrebel.wordpress.com/2012/03/04/catherine-austin-fitts-on-genocide-and-the-looting-of-america/

You might want to look at my background research on the 2012 Bilderberg attending  members list which includes Willard Milton Romney.

Annotated Bilderberg 2012 Member List

https://vidrebel.wordpress.com/2012/06/03/annotated-bilderberg-2012-member-list/

If You Do Not Learn Real History, You Will Be Dead Really Soon.

https://vidrebel.wordpress.com/2011/10/04/if-you-do-not-learn-real-history-you-will-be-dead-really-soon/

About horse237

I have decided to share two of the visions I had as a child. When I was eight, I had a vision of a future war that killed 99.5% of the world's population. When I was 16 and living in the projects, I had a vision of my future. I was to live in complete obscurity until it came time to stop WW III. When I was about ten, I had read a bio of Nikita Khrushchev which said he survived Stalin by playing the bumbling fool an old Russian peasant trick. I decided to do the same as I had already learned that we did not live in a democracy. The other vision I had when I was in third grade was of the Mind of God and how it interacted in the creation of the world we see. I believe you and I were born at this time precisely so we would have an opportunity to stop this war. As for my personal info, I grew up on military bases and in housing projects. My legs atrophied from starvation as a child. My second step-father died in prison. I used to have to rub my skin to simulate human contact. They did not feed me when I was a child. I do not fight in their wars as an adult.
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22 Responses to Two Proposed Amendments To The US Constitution: 28th Make Government Debt Illegal And 29th: No Fractional Reserve Banking.

  1. Carl Herman says:

    I’m currently working on CAFR disclosure through media and direct pressure on my two state representatives. Here’s the latest progress report: http://www.examiner.com/article/cafr-tax-surplus-trillions-sen-liu-assembly-portantino-heroes-or-minions

  2. Pingback: Economy in DEATH spiral - Page 1254 - Stormfront

  3. Pingback: How Big Banks Run the World – at Your Expense | TRUTH WARS

  4. amerikagulag says:

    It would also be of great advantage to outlaw dual national citizenship in the US government. If you want to serve in the US government you must waive your dual national status.

  5. Ken says:

    …also cancel all mortgages, those residing on property they had mortgaged to buy would be owning free and clear. This alone would reignite small business and empower the people. Banks too would benefit by having many new loans to make and deposits would skyrocket as money would be a retention of wealth even if no interest was earned. Fees could be set at a fixed price no matter the size of the loan allowing underwriters to allow only the most likely low risk loans and suppress speculation and usury.
    Land ownership by the people occupying it leads to a stable environment which in turn grows business. Whether collectively or individually, land occupiers always make the best stewards of the land. Owning land by a large disperse collective of owners scattered in far away places allows for corruption and poor land use or even land abuse.
    Life’s necessities forces creativity in change and supply and demand are always in play. Watch for industries that support privacy, create independence and suppress usury, for these are the inevitable result of empire and tyranny in our modern world. Also the shrinking of the political class, they are at risk of the greatest losses. And ultimately, the greatest losers.
    Ending the corporate legal structure would be good too. This would bring back more responsibility to business, big and small and encourage ownership by stock earnings (dividends) not speculation and stock price manipulation.
    The most amazing thing is that all the worldly problems are magnified by usury, end this financial crisis with the steps mentioned in this article, and this could eliminate the depression completely in five years worldwide. This is precedented, it has happened before and it is really only a concept of finance that holds the world in terror. Time to change the concept before too many more die needlessly.

    • horse237 says:

      I said I would cut personal debts $20,000 for every adult. That is sufficient to get the economy going along with the cancellation of government debt plus spending half a trillion dollars into circulation.

      I see no reason to give free homes to people who acted foolishly to buy into an over priced housing market. $40,000 per couple is sufficient support. And a rebounding economy would increase the value of their equity in their homes. Under the present system American net wealth has dropped 40% in the past 3 years.

      I have written elsewhere of my plans to cut utility bills by 2/3rds and to rebuild American industry.

  6. Davol says:

    I think these are awful ammendment ideas that would destroy America faster than any bad intentioned plot against this country. You can’t say these things because of the “Don’t say negitive things” 87th ammendment to the Constitution. Try to keep it possitive now, this is America.

    • horse237 says:

      Please offer specific reasons why making all government debt illegal and forbidding fractional reserve banking would destroy America faster than hundreds of trillions in derivatives.

  7. Large Scale Aggressor says:

    How about an amendment banning all lobbying and all political contributions? Maybe even ban all political parties since they just seem to be criminal organizations. And make bribing elected officials a capital crime for both briber and bribee, only one appeal allowed.

  8. radioman390 says:

    I would
    1) limit all lengths of office to one term
    2) select government officials by lottery (takes $ out of politics),
    3) require all important government officials to stream video and audio of ALL their meetings online, and make violations thereof treason,with the usual punishment

  9. Todd Marshall says:

    Video Rebel is totally clueless on how to manage a medium of exchange. But then so is Bernanke. It just goes to show, there are many ways to be clueless … and dangerous.

    • horse237 says:

      Please be specific.

      Do you want a gold standard?

      I have shown in other essays that a gold standard with fractional reserve produced two of the greatest Depressions in history.

  10. anonymous says:

    Hey, what those of us who have no debts at all?
    Some people live within their means – we are not all profligate debtors.
    I’ll be miffed if all my spendthrift neighbours benefit to the tune of having $20K/£10K debt cancelled while I get nothing out of this exercise.

    • horse237 says:

      I would give you the whole $20,000 as a deposit at a trust account in your name. It will grow into a substantial amount by the time you retire so you don’t wind up eating cat food or become a victim of a death panel.

      I will also distribute all the shares from the new corporations formed from the scientific advances held in secret by DARPA and other US research institutes. Ditto for companies run as criminal enterprises though I am not sure what will be left of Monsanto and other such ilk.

  11. KB says:

    Horse, I chuckled at the deposit of $20K and it growing. Would we have the option of taking it in Precious Metals and taking delivery instead of using Benny Bucks.

    • horse237 says:

      Regular readers know my position on gold and silver. The problem with the Federal Reserve is that it is a fractional reserve system and allows the banks to issue an interest bearing currency.

      Please note what I said about distributing stock in all the patents held by the secret government. This stock will be worth trillions to futire generations for their retirement.

      Please note that included in these DARPA advances is Tesla technology. The US government has planes that flies 40,000 mph. We also have according to the editor of Popular Mechanics the ability to create glass in zero gravity that is stronger than steel. Gold smelted and drawn into wire in zero gravity would be a near perfect conductor.

      We have the ability to cut your utility bills by 2/3rds. This means we could make silver and gold for %50 an ounce from sea water.

      I would like to emphasize that this is a long term proposition. I personally sold my gold and bought silver because it will go up faster than gold.

      I will sell it all as soon as that technology is released. I have written about this before.

      I believe only a military coup will turn this around.

  12. The State Debt Lie & Why Constitutional Law Is Covered By Commercial Law
    http://statedebtlie.wordpress.com/

    • Ken says:

      While we are at it, the 30th amendment to the constitution, ALL laws drafted and passed by congress must then meet a public referendum vote for passage of at least 75% of the voting populace voting and a clear 2/3 majority for passage. This is just like many states now do. In California Prop 37 is on the November ballet to label GMO foods. The 30th Amendment would eliminate the power of the lobbies, corporations and foreign agents.
      For those who would complain that nothing would ever get passed, well good, it should be long and painful to create new laws, in fact, to begin with we have about 10,000+ unnecessary and odious laws.

  13. dancortes says:

    This is an excellent article and with your permission I would like to link it up with my webpage: dancortes.wordpress.com where I discuss these and other important economic issues. Let me know if I have your permission.

  14. Pingback: Appreciation Day | You and I are the only Reality

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