“It is one of the serious evils of our present system of banking that it enables one class of society by its control over the currency, to act injuriously upon the interests of all the others and to exercise more than its just proportion of influence in political affairs…it will require steady and persevering exertions on your part to rid yourselves of the iniquities and mischiefs of the paper system and to check the spirit of monopoly and other abuses.”
Andrew Jackson, Farewell Address
Brian
September 3, 2014 10:12 pm
The Fed is the genesis of the problem. When “money” was issued directly by the treasury to you to discharge a debt there was no taxable activity. It was a property right.
When the Fed began issuing you their “money” instead of the treasury’s constitutionally authorized “money” is when income taxes started becoming a problem for the common wage earner.
Add 100 years of inflation due to the Fed funny money pushing up perceived costs and we have all been pushed into higher and higher tax brackets. All the while exemption rates were not adjusted up to offset the inflation compounding the problem.
The only way out of this mess and to claim your property rights via your compensation for your time and labor is to use only “money” issued directly by the US treasury.
Using the Fed/Banks funny money is the taxable event. You have choice in the form of money you use. That is the excise/duty. Use Treasury direct money and you are protected by property rights and the direct tax clauses. Use Fed/Bank funny money and you are subject to the income duty on contracts as laid out in VEAZIE BANK v. FENNO, 75 U.S. 533 (1869).
” Having thus, in the exercise of undisputed constitutional powers, undertaken to provide a currency for the whole country, it cannot be questioned that Congress may, constitutionally, secure the benefit of it to the people by appropriate legislation. To this end, Congress has denied the quality of legal tender to foreign coins, and has provided by law against the imposition of counterfeit and base coin on the community. To the same end, Congress may restrain (TAX), by suitable enactments (26USC, SSA, Medicare, Obamacare), the circulation as money of any notes not issued under its own authority. Without this power, indeed, its attempts to secure a sound and uniform currency for the country must be futile.
Viewed in this light, as well as in the other light of a duty on contracts or property , we cannot doubt the constitutionality of the tax under consideration.”
wip
September 4, 2014 12:08 am
@Brian,
Where do I get treasury issued “money”?
bb
September 4, 2014 2:51 am
Brian , where do I get teasury issued money.Wip, you can make you own.
gbyerley
September 4, 2014 5:16 am
@wip
Where do you get treasury issued “money”? Coins. Yeah, really, it’s that simple.
Coins are DEBT FREE. No Federal Reserve, bankster theft involved. So, ask yourself; why isn’t USA paying off debt with frigging quarters? You know why. Question is, what are you going to do to stop the Mafiosi banksters? They, quite literally, have an army at their disposal.
You know you’re being mugged. What are you going to do about it? Not a damn thing. So stop your whining and bend over, grab your ankles and shut-up.
BUCKHED
September 4, 2014 12:49 pm
I wish I had the internet back in college ( 1979 )…I’d ask my econ professor to explain how WE allow the Federal Reserve to STEAL from us via inflation ? The professor in question was a Keynesian through and through…me…I was a ball of wax waiting to e formed. Thank God I woke up !
Brian
September 4, 2014 3:39 pm
@WIP, yes as gbyerley eluded. Coins created by the US mint and sold to the fed at full face value. The BEP that prints up the FRN’s sells those to the fed for the cost of printing them (something around 6 or so cents a note).
Coins are really the only debt free “money” out there right now. The law is still in the books for United States Notes (greenbacks) but the treasury stopped issuing them in 1971.
When you negotiate a check add a statement above your signature along the lines of “redeem for current U.S. coin and deposit in acct#XX” OR take physical delivery of the coins. I would recommend dollar coins. Photo copy your check both sides before presenting to a bank and keep for your records.
Brian
September 4, 2014 3:44 pm
@bb, you can’t make your own money. Using any money outside the treasuries money is a taxable event. Yes even bitcoin or other cryptocurrencies.
Keith
September 9, 2014 7:50 am
Why do we have to think about going around with a ton of quarters or coin dollars in our pocket, when in fact if we the people will demand via protest that the Federal Reserve must go? Does this government really belong to the people or is this too an illusion? I had never thought about what Brain is proposing, but how in the world do you pay your mortgage in coins? What about purchasing a vehicle? Is this even possible???????? By writing a note over your signature?????????
Are the masses so numb that they will never oppose this mafia like cartell?????? There is got to be a simpler way than collecting coins and paying in coins………………………….
“It is one of the serious evils of our present system of banking that it enables one class of society by its control over the currency, to act injuriously upon the interests of all the others and to exercise more than its just proportion of influence in political affairs…it will require steady and persevering exertions on your part to rid yourselves of the iniquities and mischiefs of the paper system and to check the spirit of monopoly and other abuses.”
Andrew Jackson, Farewell Address
The Fed is the genesis of the problem. When “money” was issued directly by the treasury to you to discharge a debt there was no taxable activity. It was a property right.
When the Fed began issuing you their “money” instead of the treasury’s constitutionally authorized “money” is when income taxes started becoming a problem for the common wage earner.
Add 100 years of inflation due to the Fed funny money pushing up perceived costs and we have all been pushed into higher and higher tax brackets. All the while exemption rates were not adjusted up to offset the inflation compounding the problem.
The only way out of this mess and to claim your property rights via your compensation for your time and labor is to use only “money” issued directly by the US treasury.
Using the Fed/Banks funny money is the taxable event. You have choice in the form of money you use. That is the excise/duty. Use Treasury direct money and you are protected by property rights and the direct tax clauses. Use Fed/Bank funny money and you are subject to the income duty on contracts as laid out in VEAZIE BANK v. FENNO, 75 U.S. 533 (1869).
” Having thus, in the exercise of undisputed constitutional powers, undertaken to provide a currency for the whole country, it cannot be questioned that Congress may, constitutionally, secure the benefit of it to the people by appropriate legislation. To this end, Congress has denied the quality of legal tender to foreign coins, and has provided by law against the imposition of counterfeit and base coin on the community. To the same end, Congress may restrain (TAX), by suitable enactments (26USC, SSA, Medicare, Obamacare), the circulation as money of any notes not issued under its own authority. Without this power, indeed, its attempts to secure a sound and uniform currency for the country must be futile.
Viewed in this light, as well as in the other light of a duty on contracts or property , we cannot doubt the constitutionality of the tax under consideration.”
@Brian,
Where do I get treasury issued “money”?
Brian , where do I get teasury issued money.Wip, you can make you own.
@wip
Where do you get treasury issued “money”? Coins. Yeah, really, it’s that simple.
Coins are DEBT FREE. No Federal Reserve, bankster theft involved. So, ask yourself; why isn’t USA paying off debt with frigging quarters? You know why. Question is, what are you going to do to stop the Mafiosi banksters? They, quite literally, have an army at their disposal.
You know you’re being mugged. What are you going to do about it? Not a damn thing. So stop your whining and bend over, grab your ankles and shut-up.
I wish I had the internet back in college ( 1979 )…I’d ask my econ professor to explain how WE allow the Federal Reserve to STEAL from us via inflation ? The professor in question was a Keynesian through and through…me…I was a ball of wax waiting to e formed. Thank God I woke up !
@WIP, yes as gbyerley eluded. Coins created by the US mint and sold to the fed at full face value. The BEP that prints up the FRN’s sells those to the fed for the cost of printing them (something around 6 or so cents a note).
Coins are really the only debt free “money” out there right now. The law is still in the books for United States Notes (greenbacks) but the treasury stopped issuing them in 1971.
When you negotiate a check add a statement above your signature along the lines of “redeem for current U.S. coin and deposit in acct#XX” OR take physical delivery of the coins. I would recommend dollar coins. Photo copy your check both sides before presenting to a bank and keep for your records.
@bb, you can’t make your own money. Using any money outside the treasuries money is a taxable event. Yes even bitcoin or other cryptocurrencies.
Why do we have to think about going around with a ton of quarters or coin dollars in our pocket, when in fact if we the people will demand via protest that the Federal Reserve must go? Does this government really belong to the people or is this too an illusion? I had never thought about what Brain is proposing, but how in the world do you pay your mortgage in coins? What about purchasing a vehicle? Is this even possible???????? By writing a note over your signature?????????
Are the masses so numb that they will never oppose this mafia like cartell?????? There is got to be a simpler way than collecting coins and paying in coins………………………….