Time: Mon Oct 20 22:37:13 1997
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Mon, 20 Oct 1997 22:05:39 -0700 (MST)
Date: Tue, 21 Oct 1997 01:05:12 -0400
Originator: heritage-l@gate.net
From: Paul Andrew Mitchell [address in tool bar]
To: pmitch@primenet.com
Subject: the "bond method" (was "THOMAS A. EDISON")
One answer is that it profits the banks
who invented the "bond method" in the
first place. It is also essential that
you understand how the "bond method"
enriches the banks. Briefly, the Federal
Reserve buys bonds for at most 3 cents
on the dollar and, in return, they receive
liens on collateral equal to the face value
of those bonds, PLUS INTEREST. Very often,
FRB buys U.S. bonds with credit they create
out of thin air, via bookkeeping entries;
in this instance, they are buying bonds
for 0 (zero) cents on the dollar, and they
still receive, in return, liens on collateral
equal to the face value of the bonds, PLUS
INTEREST.
Some leverage, yes? You must, therefore, understand
that money in America is created if, AND ONLY IF,
the federal debt is increased. This relationship,
or connection, is one-to-one, and it must be ended,
as soon as possible, because the federal debt spiral
is mathematically impossible to pay. When lawmakers
talk about a "balanced budget," they are merely
referring to a budget with no deficit FOR THAT YEAR;
they are NOT talking about paying off the entire
federal debt which has accumulated over many years,
by adding all the consecutive annual deficits
together.
Now, if you know where to look, there is a law in
California which says that all real property
recorded as a "fee simple" transaction,
is held as collateral for the debt to which
section 4 of the so-called 14th amendment
refers, i.e., the validity of the public debt
shall not be questioned. That statute is
the closest I have ever come to pinpointing
any nexus between the federal debt, and the
FRB's claim, if any, to real property recorded in
California counties. When I confronted the
Governor of California, and the State Lands
Commission, on this point, they all fell silent.
/s/ Paul Mitchell
http://supremelaw.com
copy: Supreme Law School
At 04:41 PM 10/20/97 -0700, you wrote:
>
>In published interview "New York Times" 6 December, 1921 which was
>placed in the Congressional Record of 11 February, 1943, Edison was
>supporting Henry Ford's proposal that Congress PAY FOR CONSTRUCTING
>MUSCLE SHOALS BY AN ISSUE OF CURRENCY - "EX NIHILO" - without creating
>any debt!
>
>If once "...the currency method is TRIED in raising money for public
>improvements, the country will NEVER go back to the bond method," said
>Edison.
>
>Why did AMERICA go back to the "bond method???" JQSCOTT
>
<snip>
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