|
HONEST
MONEY
What It Is and What It Isn't
The Money
Power, Part 6
by Douglas
V. Gnazzo
April
23 2006
[ Previous parts:
1, 2,
3, 4,
5, ]
Emitting
bills of credit, or the creation of money by
Private corporations is what is expressly forbidden
by Article 1, Section 10 of the U.S. Constitution."
The Power of Money
The
money power, just the sound of it is awesome. But what does it mean,
what is it? Is the power of money the same as the money power?
Money
is good for one purpose, to be used in exchange for other goods and
services in the marketplace. When one sells goods they buy money, when
they sell money they buy goods.
Money
is a representative unit-of-value of the goods it is exchanged for. The
available goods and services are the real value behind the money. Money
is a receipt for the value of other goods that can be purchased with the
exchange of money.
By
this, we see that money has power – the power to be accepted in trade
to purchase other things – life’s necessities if you will. The
purchasing power of money is literally the power to purchase. It is one
of the pillars of the quality theory of money.
Because
money is used to purchase other goods and services with, the more
purchasing power that money has, the greater is the quantity of things
it can purchase – the better off is one’s standard of living. This
is the power of money in its most basic form.
But
what of the money power – is that different from the power of money?
The
Money Power
Article
1, Section 8, Clause 5 of the Constitution states:
“Congress
shall have the power to coin money, regulate the value thereof and of
foreign coin, and fix the standard of weights and measures.”
As
discussed last week, the power to coin money meant the power to mint
coins of silver and gold, silver and gold that was in the possession of
the people who brought it to the mint for coining.
The
government did not own the silver and gold – the people owned the
silver and gold. The government simply coined the bullion, and affixed
its stamp certifying the weight and fineness of the metal content of the
coin.
This
is the critical difference between the power to coin money, and the
power to emit money.
The
power to coin money is not the same as the power to emit money.
The
power to issue money is the power to create money, to be in possession
of the money so created, to hold title to the money. Congress was never
granted this power; in fact, Congress was denied this power as a
disability.
The
original wording of Article 1, Section 8, Clause 5 of the Constitution
included the words, "emit bills of credit."
This
exact issue was hotly debated as the Congressional records show. The
delegates voted to strike out these words, thus denying the Government
the power to issue paper currency or bills of credit.
The
Power To Borrow
Furthermore,
Congress was granted the power to borrow money, as is clearly stated in Article
1, Section 8, Clause 2:
“Congress
shall have power to borrow money on the credit of the United States.”
As
mentioned last week, if Congress was granted the power to issue or
create money, then why would it ever need the power to borrow money? Why
borrow money when you can simply create or issue it?
The
Power To Issue
From
this we see that the power of money is different from the money power.
The power of money has to do with its purchasing power. The money power
has to do with the power to create money, to issue money.
In
a hard currency system, such as our constitutional system of silver and
gold coin, this includes the power to coin money. Nevertheless, the
government does not own or hold title to the money so coined – the
people do.
The
money is private property. It is not the property of the State.
The
state can obtain money by taxes, and by its Constitutional power to
borrow money on the credit of The United States. The ability to collect
taxes gives the government any credit to speak of, as the government
does not produce goods for sale in the market.
The
State should not have the money power – the power to create money.
The
money power is arguably the greatest power the State can wield. The
military power is the only other power that comes close, as today’s
military-industrial complex has the raw power to annihilate the entire
planet, leaving nothing but death and misery as a testimonial to its
vanity.
It
has been said “the sinews of war is money”, which is starkly
self-evident, as everything costs a price – weapons, food to feed the
soldiers, the soldiers pay, and on and on.
From
this we see that war cannot be waged unless there is the money available
to finance it. The merchants of death know this all too well.
Alexander
did not conquer – Alexander’s gold conquered.
The
price of war – the costs of war, is one of the main excuses the elite
money power use for their control of the money power to issue not only
money, but paper fiat debt-money, as well – the preferred food for the
dogs of war, as it’s cheap and comes in large quantities.
The
Control Of Money
The
money power is a great force for either good or evil; depending upon
whose hands, it resides in. Whoever controls the money, controls all
else, including the people.
Lord
Rothschild knew this quite well, as it was the creed he lived by. He
cared not who was King or Queen, as long as he controlled the money.
Presently
the State and The Federal Reserve control the money power. By
controlling the money, the powers that be have usurped our freedoms and
liberty.
Yet,
hardly a whimper of protest is heard throughout the land. All is silent
– the silence of the lambs.
No
one questions the authority over the money power. Many protest war,
famine, and other worthy causes – as well they should.
Why
is the money power left unscathed, when we have just seen that it is the
greatest power of all, even greater than the military-industrial
complex’s power of the war machine?
Congress
was never delegated the power to issue money – the money power. The
money power is one of the unalienable rights of We The People.
It
is the people that produce the goods and services sold in the
marketplace, not the State. Moreover, as we have seen, the goods and
services are the value that stands behind the money.
Man’s
labor stands behind the production of all goods. Thus, man’s labor is
that which stands behind the money. The money power belongs to the
people – it is the means by which they exchange and procure the fruits
of their labor.
Money
facilitates the movement of production to consumption.
The
Constitution is a trust between the people and The United States of
America. Within the body of that trust, a contract was also formed, a
contract between We The People and the government that we created. The
government works for the people.
The
people are Sovereign. The State is subservient to the people.
We
The People created the government to serve the people, to protect our
rights, not to dominate and control our lives by interfering within our
private lives and business – by government intervention within what
are supposed to be free markets.
By
What Authority?
By
what authority does the State transgress the Constitution, first taking
the money power from the people, and then handing it over to the Federal
Reserve?
One
of the people’s unalienable rights is the right to private property,
yet the government confiscated the people’s gold in 1933, and made it
unlawful for private citizens to own the currency of their country. Cui
Bono?
We
The People must take back the money power from the State and The Federal
Reserve, by the proper workings of Congress, according to the
Constitution, and by the due process of law in pursuance thereof.
No
single group of men should have control over the money power. As Lord
Acton stated:
"Power
tends to corrupt and absolute power
corrupts
absolutely.”
The
money power should reside with the people
for whom it exists – and by whom it exits.
The
people come before the government. The State should have no existence
outside of the people. The people must retain sovereignty to insure
freedom and liberty see the light of day. Do not let our freedom and
liberty remain hidden in the darkness of night.
We
must demand that our elected representatives seek our approval for every
dollar of OUR MONEY that they spend.
Article
1 Section 9 of Clause 7 of the Constitution states:
“No
Money shall be drawn from the Treasury, but in Consequence of
Appropriations made by Law; and a regular Statement and Account of the
Receipts and Expenditures of all public Money shall be published from
time to time.”
The
Return To The People
Once
the power to issue money is taken back from the government and returned
to the people, the natural separation of money and State will be in
balance. Such separation of money and State will help provide a clearer
understanding between the boundaries of private enterprise and
government enterprise.
It
will clear the way for less government interference and intervention
within the free market processes of private enterprise – of true and
honest capitalism.
Many
of our economic problems are a direct result of the money power being
under the control of the State and The Federal Reserve instead of We The
People.
Such
a dishonest system allows those in control of the money power to favor
special-interest groups, lobbyists, and all those looking for a free
hand out or favor.
All
economic, political, geo-political, and socio-economic problems have
their roots planted deeply within the money problem. None of these other
problems can be fixed unless the monetary system is fixed first.
To
fix any of these other problems requires money, but not the present form
of paper fiat debt-money – it requires real Honest Money that retains
its purchasing power, and is in the control and hands of the people, not
an elite group of bankers.
Illusions
of Freedom
Presently,
all we do is delude ourselves with illusions of freedom. How can we be
free, if the greatest power possible for the State to possess is in
their possession when it should be in the hands of the people?
If
we do not have control of the money power, how can we possibly have
control of our lives – our destiny? By taking back the control of the
money power, we can retain our rightful place ahead of the State.
We
can return the State to being the servant of the people, as the
Constitution and Declaration of Independence intended and stated. The
preamble to The Bill of Rights says:
“The
Conventions of a number of the States, having at the time of their
adopting the Constitution, expressed a desire, in order to prevent
misconstruction or abuse of its powers, that further declaratory and
restrictive clauses should be added: And as extending the ground of
public confidence in the Government, will best ensure the beneficent
ends of its institution.”
Destiny
Man
fashions his own destiny out of the clay of his actions. Either man must
choose to accept responsibility for his future and to be in control of
his destiny; or man can knowingly agree to hand over the control of his
future to the State.
To
do so is nothing but a form of slavery, of feudalism and serfdom of the
21st century. As the Rt. Hon. Reginald McKenna, former Chancellor
of Exchequer, England said:
“Those
who create and issue money and credit direct the policies of government
and hold in the hollow of their hands the destiny of the people."
It
is time for all free men to stand up and be counted, to accept the
responsibility for his own future – to demand a return to Honest
Money, to demand the return of the money power to We The People.
With
the advent of Honest Money, and the power of money in the hands of the
people, war would be near impossible to wage, except in direct defense
of the homeland. Once a return to Honest Money is attained, then many of
the other economic problems can be addressed.
"Those
who create and issue money and credit direct
the policies of government and hold in the hollow
of their hands the destiny of the people."
Rt. Hon. Reginald McKenna, Chancellor of Exchequer, England
Come
visit our new website: Honest
Money Gold & Silver Report
And read the Open
Letter to Congress
© 2006 Douglas V. Gnazzo
Editorial Archive
All
rights reserved. Any republication without written permission
of author
and Financial Sense prohibited.
CONTACT
INFORMATION
Douglas V. Gnazzo
Honest Money Gold & Silver Report, LLC
Canton Center, CT USA
Email
| Website
About
the author: Douglas V.
Gnazzo is CEO of New England Renovation LLC, a historical restoration contractor
that specializes in restoring older buildings that are vintage historic
landmarks. He writes for numerous websites and his work appears both
here and abroad. Just recently he was honored by being chosen as a Foundation
Scholar for the Foundation for the Advancement of Monetary Education
(FAME).
Disclaimer:
The contents of this article represent the opinions of Douglas V.
Gnazzo. Nothing contained herein is intended as investment advice or
recommendations for specific investment decisions, and you should not
rely on it as such. Douglas V. Gnazzo is not a registered investment
advisor. Information and analysis above are derived from sources and
using methods believed to be reliable, but Douglas. V. Gnazzo cannot
accept responsibility for any trading losses you may incur as a result
of your reliance on this analysis and will not be held liable for the
consequence of reliance upon any opinion or statement contained herein
or any omission. Individuals should consult with their broker and
personal financial advisors before engaging in any trading activities.
Do your own due diligence regarding personal investment decisions. This
article may contain information that is confidential and/or protected by
law. The purpose of this article is intended to be used as an
educational discussion of the issues involved. Douglas V. Gnazzo is not
a lawyer or a legal scholar. Information and analysis derived from the
quoted sources are believed to be reliable and are offered in good
faith. Only a highly trained and certified and registered legal
professional should be regarded as an authority on the issues involved;
and all those seeking such an authoritative opinion should do their own
due diligence and seek out the advice of a legal professional. Lastly
Douglas V. Gnazzo believes that The United States of America is the
greatest country on Earth, but that it can yet become greater. This
article is written to help facilitate that greater becoming. God Bless
America.
|
