Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: mrreaganaut

- Add a amendment to have things balanced from now on.
- Dissolve the FED and introduce a “new” dollar backed by a national reserve of gold, silver, platinum and rare earth elements.
- Default all the current debt.


17 posted on 07/28/2011 2:11:46 PM PDT by buzzer
[ Post Reply | Private Reply | To 15 | View Replies ]


To: buzzer
- Add a amendment to have things balanced from now on. - Dissolve the FED and introduce a “new” dollar backed by a national reserve of gold, silver, platinum and rare earth elements. - Default all the current debt.

(1) A balanced budget amendment would mean that Congress would "have to" raise taxes whenever the government ran out of money.

(2) Even though we still have Fort Knox full of gold, returning to a $20/oz. standard would still leave many of our outstanding debts unfunded.

(3) Default is unconstitutional. (The 14th Amendment does NOT permit Obama to "raise the debt limit" but it does require him to pay debts.)

I recommend holding off on returning to gold until after the government gets out of the businesses of loans and insurance.

18 posted on 07/28/2011 4:27:00 PM PDT by mrreaganaut (I gots no moneys, Obama din give me no pie.)
[ Post Reply | Private Reply | To 17 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson