August 1, 2012
This is the second installment in critical bills that need to get introduced in your state legislature this coming January. As I pointed out in my last column, bills have to be written by Thanksgiving for distribution to committees. If you wait until January or February, it will be way too late.
Dr. Vieira asked in a February 2012, presentation: "If the Federal Reserve System collapses in hyperinflation in the near future, exactly what will the State and her citizens then use as their currency?"
At this point in time, nothing, because not one state in this Union is prepared for the inevitable.
While many Americans do understand the problem with fiat currency and the "Fed", I would guess a hundred million don't and neither do enough members of the 50 state legislatures or they would have addressed this massive problem years ago. So, it is up to you to get this information to your state representative and get a commitment to introduce a bill in January. Better if you can do it as a group like tea party or 9-12 chapters. But, it takes boots on the ground and effort. I have already mailed my package for the bill challenging ratification of the Seventeenth Amendment. Have you? If we do nothing, how can we expect to get critical issues addressed and solutions implemented?
If people thought what began in 2007 and finally blew a fuse in 2008 was bad, they haven't seen the worst of it...yet. Remember: those who have worked hard and accumulated wealth are the ones (just like little businesses) who create the jobs. When they lose their fortunes, you will see many more businesses go under. Since 2008, some 220,000 small business have gone belly up. All of this does affect the states of the Union in higher unemployment, Medicaid, welfare and crime.
"Faber stated, “I think somewhere down the line we will have a massive wealth destruction. That usually happens either through very high inflation or through social unrest or through war or credit-market collapse.”
“I would say that well-to-do people may lose up to 50 percent of their total wealth.”
"Faber points out that this bleak outlook for the United States has been caused by Federal Reserve Chairman Ben Bernanke and the Federal Reserve's continuous printing of new money.
"He says that the bailout and money printing will not create any long-lasting wealth or create healthy growth, and that the collapse will come on Bernanke’s watch."
"According to CEO and Chief Global Strategist of Euro Pacific Capital Peter Schiff, the U.S. economy is heading for an economic crash that will make 2008 look like a walk in the park. Stimulus programs can delay this day of reckoning, but only for so long and only at the expense of making the eventual meltdown much, much worse.
"Schiff, who famously warned investors about the housing and financial crisis in his 2007 book Crash Proof, says the Fed's palliative efforts during the housing meltdown have made the next crisis inevitable.
"We've got a much bigger collapse coming, and not just of the markets but of the economy," Schiff says in the attached clip. "It's like what you're seeing in Europe right now, only worse."
"In this nightmare scenario detailed in The Real Crash: America's Coming Bankruptcy, the current economic pause is actually the beginning of a material slowdown or recession into year end. At that point, the Federal Reserve will unleash a third round of Quantitative Easing — weakening the dollar without jump-starting the economy. As a result of dollar weakness, import prices rise, pressing the margins of corporate America. Lower margins lead to heavy layoffs, sending millions of workers into unemployment during a time when they can least afford it. Banks fail, housing collapses, and taxes are raised in a futile effort to give the tapped-out government the capital to try yet more futile stimulus.
"That's when it really is going to get interesting, because that's when we hit our real fiscal cliff, when we're going to have to slash — and I mean slash — government spending," says Schiff.
"Those cuts will not be at all unlike the draconian austerity measures in Greece, with programs like Social Security and Medicare being dramatically cut or possibly disappearing entirely. The easiest way to put it, is that everything you don't think could possibly happen in America will come to be."
"Anyone who thinks the U.S. is in recovery should stop listening to the mainstream media and listen to John Williams. He heads up Shadowstats.com, and is one of the few economists who crunches the numbers to give unvarnished true statistics. Adjusted for real inflation of about 7%, Williams says, “GDP has plunged, and we have been bottom bouncing” ever since the financial crisis started. Williams says, “The next crash will be a lot worse (than 2008) because it will push us into the early stages of hyperinflation.” He predicts this will happen “by the end of 2014– at the latest.” Long before 2014, Shadowstats.com thinks there is a good chance of “panic selling of the U.S. dollar,” if the Federal Reserve starts another round of money printing (QE3) to save the system and the big banks.
"No matter what Williams predicts, “There will eventually be a crisis to bring the system down as we know it. . . . We’re on the brink.” According to Williams, “at some point, you will see a new currency in the U.S.” The founder of Shadowstats.com sat down for a one on one interview with Greg Hunter to talk about the mathematical certainty of a systemic collapse in the not-so-distant future."
The individuals above are no light weights and people had better listen to what they're saying. State legislators had better wake up and smell the disaster about to hit the state houses like a tsunami. That's why this bill is so important.
For this bill, you need a cover letter if you (or a group you're affiliated with) can't meet with your state rep personally. No email. What should you put in this package?
1. The Working Paper. As I explained in the first installment, a working paper is to demonstrate to your state representative the need for a bill and why it benefits the state and her citizens.
2. Print out Dr. Edwin Vieira's nine page presentation for a bill in Montana and include it with the working paper. That document will show your state representative that other states are at least making some effort. I can tell you that the biggest problem besides ignorance on the part of state legislators is party politics. In all their stupidity, I have watched 'sound money bills' get killed by one party or the other ignoring the consequences of their actions.
3. Print out the South Carolina bill I included in the Working Paper. While that bill is far from being perfect, it is a start.
4. This model piece of legislation Dr. Vieira wrote for the states and included in his two volume work, Pieces of Eight: The Monetary Powers and Disabilities of the United States Constitution (2002), the most comprehensive study in existence of American monetary law and history viewed from a constitutional perspective. Print it out for your package.
5. There are three other documents that need to be put on a CD and included in your package. They are too long to print out, but anyone who reads them (like your state representative) will fully understand the problem, how perilous the situation is and hopefully, move them to get a bill written and introduced.
An Introductory Primer on The Constitutional Authority of the States to Adopt An Alternative Currency by Edwin Vieira, Jr., 2011
Corportivism in Money and Banking Has Led America to Fascism - Address to the Annual Spring Meeting of the Committee for Monetary Research & Education, Union League Club, New York City, May 17, 2012
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Millions of Americans have been broad sided by what began in 2008 and will only continue to get worse. The Outlaw Congress absolutely refuses to take corrective action. Look at what has happened with the bill just to audit the privately owned "Federal" Reserve. It's taken years to get the bill passed by the house, but Harry Reid isn't going to allow it to get passed in the Senate. Rep. Ron Paul's bill in 2007, to absolish the unconstitutional "Federal" Reserve didn't get a single sponsor. In the meantime, we have all paid the price.
The consequences to all of us if the states don't take action on this issue is horrendous.
Devvy Kidd authored the booklets, Why A Bankrupt America and Blind Loyalty; 2 million copies sold. Devvy appears on radio shows all over the country. She left the Republican Party in 1996 and has been an independent voter ever since. Devvy isn't left, right or in the middle; she is a constitutionalist who believes in the supreme law of the land, not some political party.
Devvy's regularly posted new columns are on her site at: www.devvy.com. You can also sign up for her free email alerts.
E-mail is: [email protected]