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To: Da Bilge Troll
>> "The value of the Dollar shall be one fifteen-hundredth avoirdupois ounce of gold of which impurities do not exceed one part per thousand."
>
> If we assume the current U.S. economy is roughly $15 trillion, by my calculations (please double check), backing that at $1,500 per ounce would require 312,500 TONS of gold.
> Is there that much gold on the planet? Well, by some estimates it is more than double the amount of gold on Earth. >
> Any suggestions?

The final sentence of Section 7 addresses a lot of that so-called %15 Trillion: All unfunded liabilities heretofore assumed by the United States are void.

There are also other manners in which to handle the $15 Trillion debt:

  1. The easy solution to the debt is repudiation, simply saying “the Constitution does not authorize Congress to incur debt for X” is simply not conforming with the Constitution; However, Article 1, Section 8, Clause 2 clearly assigns congress the power with “To borrow Money on the credit of the United States;” and furthermore the first sentence of Amendment 14, Section 4 says:
    “The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.” — so it is therefore not possible to directly repudiate the debt.
  2. However, the Constitution places restrictions on what the legitimate currency can be in Article 1, Section 10 when it says: “No State shall […] make any Thing but gold and silver Coin a Tender in Payment of Debts;” — this restriction must also apply to the representatives of the States in Congress, for if any State is denied the authority to do so, then its representatives cannot have a greater authority. Therefore, the Federal Reserve Act of 1913 whose long title is “An Act To provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes” could not have been legitimately passed by the States in Congress without first amending the Constitution to allow it.
  3. Given #1 and #2, it is here that we are confronted with a huge contradiction — the Federal Reserve’s Notes cannot be held to be valid, as such tender is prohibited, and yet the 14TH Amendment clearly prohibits the questioning of the validity of the public debt.
  4. Solution:
    The solution is therefore not to question the debt, but to acknowledge that the Congress had no power to enact the Federal Reserve and that the debt incurred as Federal Reserve Notes cannot legitimately be laid to the States or the People thereof — obviously those Congresses were acting in their own personal power and all such debts are theirs personally and the courts should apply that portion of debt to them and their estates as they would for private citizens.
And there you have it — a nice, tidy solution to the public debt.
And one that is wholly just: for it turns this method with which the elites sought to enslave us, the people, back on their own heads using nothing but the Supreme Law of the Land.
36 posted on 06/13/2017 5:17:52 PM PDT by Edward.Fish
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To: Edward.Fish
"The final sentence of Section 7 addresses a lot of that so-called %15 Trillion: All unfunded liabilities heretofore assumed by the United States are void."

My post was not clear -- when I mentioned the U.S. economy, I was referring to the GDP, not the debt.

It does not appear that the current GDP can be supported by a gold standard of $1,500 per oz.

37 posted on 06/13/2017 9:30:05 PM PDT by Da Bilge Troll (Defeatism is not a winning strategy!)
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