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Today I turned 50! San Diego Police officer resigns after getting locked in the backseat with female detainee Gazan Refugee Warns the World about Hamas Iranian stabbed for sharing his faith, miraculously made it across the border without a passport! Protest and Clashes outside Trump's Bronx Rally in Crotona Park Netanyahu Issues Warning To US Leaders Over ICC Arrest Warrants: 'You're Next' Will it ever end? Did Pope Francis Just Call Jesus a Liar? Climate: The Movie (The Cold Truth) Updated 4K version There can never be peace on Earth for as long as Islamic Sharia exists The Victims of Benny Hinn: 30 Years of Spiritual Deception. Trump Is Planning to Send Kill Teams to Mexico to Take Out Cartel Leaders The Great Falling Away in the Church is Here | Tim Dilena How Ridiculous? Blade-Less Swiss Army Knife Debuts As Weapon Laws Tighten Jewish students beaten with sticks at University of Amsterdam Terrorists shut down Park Avenue. Police begin arresting democrats outside Met Gala. 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Older Men - Keep One Foot In The Dark Ages When You Really Want to Meet the Diversity Requirements CERN to test world's most powerful particle accelerator during April's solar eclipse Utopian Visionaries Who Won’t Leave People Alone No - no - no Ain'T going To get away with iT Pete Buttplug's Butt Plugger Trying to Turn Kids into Faggots Mark Levin: I'm sick and tired of these attacks Questioning the Big Bang Status: Not Logged In; Sign In Economy See other Economy Articles Title: A very secret agent Source: A very secret agent URL Source: http://www.atimes.com/atimes/Global_Economy/MG27Dj02.html Published: Jul 27, 2011 Author: Chris Cook Post Date: 2011-07-28 10:16:46 by lucysmom Keywords: Fiat Currency, Fed Created Tax Credit Views: 48773 Comments: 80 There is a charade playing out in Washington at the moment in respect of the completely meaningless "debt ceiling" which the US maintains as a relic from the days of the gold standard. We are told that at the US Treasury's account at the Federal Reserve Bank there will soon be no more taxpayers' dollars, and therefore the Fed will soon be unable to make any more payments or issue any more cheques on behalf of the Treasury. The money has run out. This is nonsense. It is a myth, and moreover it is a myth that Federal Reserve chairman Ben Bernanke exploded in his recent testimony to a US congressional committee. Asia Times">Click for Full Text! Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 50. #1. To: lucysmom (#0) The federal reserve is unconstitutional. Close it down, put the perps on trial and execute them for fleecing us. I'm saying they should be executed for treason. Dammit where is Andrew Jackson when we need him. A K A Stone  posted on  2011-07-28   10:18:47 ET  Reply   Untrace   Trace   Private Reply   #5. To: A K A Stone (#1) The federal reserve is unconstitutional. Perhaps you are getting the Articles of Confederation confused with the US Constitution? lucysmom  posted on  2011-07-28   10:30:56 ET  Reply   Untrace   Trace   Private Reply   #6. To: lucysmom (#5) The Federal Reserve is Unconstitutional. As is the 16th Amendment authorizing Income Tax. W/o which the FedRes is toothless. mcgowanjm  posted on  2011-07-28   10:33:44 ET  Reply   Untrace   Trace   Private Reply   #28. To: mcgowanjm (#6) As is the 16th Amendment authorizing Income Tax. W/o which the FedRes is toothless. The income tax didn't need the 16th amendment to be Constitutional, and the Fed doesn't need the income tax. lucysmom  posted on  2011-07-28   12:07:32 ET  Reply   Untrace   Trace   Private Reply   #42. To: lucysmom (#28) The income tax didn't need the 16th amendment to be Constitutional, and the Fed doesn't need the income tax. O Yes it does....for Both. And the Standing Army needs Both for war....;} mcgowanjm  posted on  2011-07-29   8:24:26 ET  Reply   Untrace   Trace   Private Reply   #44. To: mcgowanjm (#42) O Yes it does....for Both. Tax on income derived from labor was clearly an indirect tax (within the meaning of the Constitution) and never an issue. The 16th amendment settled the Constitutionality of a federal tax on income derived from property. By Fed are you referring the the federal government of the Federal Reserve? lucysmom  posted on  2011-07-29   10:45:35 ET  Reply   Untrace   Trace   Private Reply   #48. To: lucysmom (#44) (Edited) Tax on income derived from labor was clearly an indirect tax (within the meaning of the Constitution) and never an issue. The 16th amendment settled the Constitutionality of a federal tax on income derived from property. I'm not sure what dicta or law you may be referring to but it was held as early as Pollock that a federal tax that was made directly on an individual's money "made", which included the wages of both labor and speculation, and that was levied solely as a % rather than as a head count apportionment was held as a direct tax. In other words, the only way that the Central government could levy a tax on income would be to determine how much is needed, divide it by the population, and then levy that same dollar amount on EvERYONE. This made it virtually inpossible to institute an income tax system - which was their intent. war  posted on  2011-07-29   10:54:44 ET  Reply   Untrace   Trace   Private Reply   #50. To: war (#48) This made it virtually inpossible to institute an income tax system - which was their intent. And thank you. Is it coincidence that the personal income tax and the federal reserve bank was created in the same year -1913 Tthe Sixteenth Amendment of the United States Constitution was ratified (illegally) on February 3, 1913. The Federal Reserve System, created in 1913, is a private banking system of the United States. mcgowanjm  posted on  2011-07-29   10:58:13 ET  Reply   Untrace   Trace   Private Reply   Replies to Comment # 50. #51. To: All (#50) And the following neatly ties in the thread: "Keep in mind that the US Constitution explicitly forbade a standing Army in Article 1, Section 8, where it enumerates the Powers of Congress: To define and punish Piracies and Felonies committed on the high Seas, and Offenses against the Law of Nations; To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water; To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years; To provide and maintain a Navy; To make Rules for the Government and Regulation of the land and naval Forces; To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions; To provide for organizing, arming, and disciplining, the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress; The outline here is clear – our National Guard serves the Militia role today, and we can mobilize them as needed (for up to two years). Keep in mind that during the Bush Administration, the wars in Afghanistan were fought by as many National Guard as active duty troops. If the Bush argument was that any foreign war is essentially an exercise in homeland defense, this only further underscores the argument that a standing Army is unnecessary....;} mcgowanjm  posted on  2011-07-29 11:01:15 ET  Reply   Untrace   Trace   Private Reply   End Trace Mode for Comment # 50. Top • Page Up • Full Thread • Page Down • Bottom/Latest

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