News Articles Internet Articles (2015)
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On Tuesday, the Wall
Street Journal reported that US Treasury Secretary Timothy Geithner
said he was open to displacing the US dollar with an "international
reserve currency." Within 10 minutes the dollar promptly fell
1.3% against the Euro. The WSJ and the Washington Times both reported
that he later recanted his statement, saying that "...the dollar
remains the world's dominant reserve currency. I think it's likely to
continue for a long time." On Tuesday, when he and Bernanke
were being grilled by Congresswoman Michelle Bachmann [R-MN], she
asked both, specifically: "We've seen both China and Russia make
calls for an international monetary conversion to an international monetary
standard as soon as the G-20, and I'm wondering if you would categorically
renounce the United States moving away from the dollar and going to a
global currency as suggested this morning by China and also by Russia?"
She directed the question first to Geithner, whom a day earlier
said he would favor such a move. Geithner said he would categorically
renounce such a move. With the collapse of Bretton Woods during the Vietnam War, the global economy has resorted to floating exchange rates (which has been a boon to money hedge fund mogul George Soros who has earned over a billion dollars from America's weakened dollar. The first calls for a unified currency came from Kazakhstan's President Nursultan Nazarbayev in February, blaming the dominance of the dollar for the global economic problems faced by all of the nations of the world. "The players," he said, "are forced to abide by rules imposed on them by others. They are set by a narrow circle and often violate the majority's interests. I believe a new global currency should serve as a foundation for a new harmonious system. The global currency market is not competitive. And, that means it's not civilized." (His words echoed a similar statement issued earlier that same day by Iranian President Mahmoud Ahmadinejah.) And, while Russia agreed with Nazarbayev's sentiments in principle, Moscow did not appreciate the flea on the dog's tail wagging the dog. Moscow wants the rouble to become the world's national reserve currency. China, of course, wants it to be the renminbi, more commonly known as the yuan. And, of course, the Europeans want the world's currency to be the Euro. As the European Union discovered during the last decade, no national currency can serve as a global currency because, first and foremost, a currency must satisfy its own nation's monetary policy goals. On top of that, it must also meets the demands of those countries using it as a reserve currency. That is virtually an impossible task since the monetary authority must address its own economic imbalances before being concerned about its neighbors. Generally speaking, what fixes my economy usually harms yours. And, since its become clear to the EU States that whomever controls your currency controls you, several EU States have announced they will pull out of the European Union and restore their own national currencies. In a final note on the video (above). When Bachmann grilled Bernanke and Geithner about Geithner's control over money policy, she demanded to know by what Constitutional authority they were spending ten trillion dollars of the taxpayers' money to bolster the markets around the world. Bachmann said: "The American people are wondering if their government is making an historic shift, jettisoning the free market capitalism in favor of centralized government economic planning." Geithner opened the door by stating he was merely using authority Congress gave the Executive Branch to protect the American economy from these kind of things. Bachmann responded by asking Geithner "...what provisions in the Constitution could you point to that gives authority for the actions that have been taken by the Treasury since March of oh-eight?" Both Geithner and Bernanke insisted they received their expanded authority from the Economic Economic Stabilization Act of 2008 which, he said, gave the Treasury a whole new range of authority to act. Geithner, and then Bernanke continued to recite the mantra that Congress gave them the authority as though Bachmann didn't understand her own question. The problem is, neither Geithner nor Bernanke understood the reason the question was proffered. Constitutionally, control
over the money supply belongs to the people of the United States through
the House of Representatives. (Which is why Congressmen serve for only
two years.) When Congress sticks their hands in the pockets of the American
people, the American people have the rightand an essential needto
fire them. Political affiliations notwithstanding. The people don't
seem to get it, either. Since the Emergency Baking Relief Act of 1933 was rammed through Congress in lightning speed on March 9, 1933 after four hours of debatewhich were four hours of Republican screaming that they had never seen the legislation and knew absolutely nothing about it, as the Democratic majority (who did not need GOP votes to pass it) enacted a bill crafted by Franklin D. Roosevelt's brain trust that no one in either house had seen or read. By evening, a piece of legislation that reclassified the American people as enemies of its government was sent to the White House. Before Roosevelt went to bed that night, the Emergency Banking Relief Act became Public Law 1 of the Roosevelt Administration. The Roosevelt Express was determined to jettison the free enterprise system in favor of a fascist centralized government The Obama Express, which knows the clock is ticking, recognizes it has until Jan. 7, 2011 to kill America's free enterprise democracy and convert into a socialist, centralized government with all power emanating from the Oval Office. That is what Roosevelt tried to do as well, but the American people caught on too quickly and even though the American people stupidly returned Roosevelt to power three times, they eliminated the Democratic super majority which prevented the socialist left from legislating the Constitution of the United States out of existence. A national leader without a "wrecking ball" House of Representatives and bulldozer Senate cannot destroy the nation in two yearseven though Adolph Hitler's Reichstag managed to destroy the Constitution of the Weimar Republic in Germany in 36 days. If you agree with the message (above), download this banner and pass it around. Place it on your own website to protest Resident Obama's refusal to produce a non-counterfeit, non-photo-shopped, genuinely hospital-issued, long-form birth certificate. Records exist that indicate Resident Obama was born in Kenya and may have surrendered any claims to American citizenship in Indonesia. Therefore, he still needs to prove to the voting public of the United States that he was born in Honolulu, Hawaii on Aug. 4, 1961, and that he is entitled to claim that he is a natural born citizen of the United States as required by the Constitution of the United States to serve as President of the United States. Resident Obama may have received the key to 1600 Pennsylvania Avenue, but as far as the American people are concerned, this matter is not resolved just because he is residing in the White House. The people have a constitutional right to demand an answer to that question under their 1st Amendment right to address their grievances with the government. And the government, through the Supreme Court of the United Statesour court of last resortshas an obligation to listen and not, out of hand, dismiss the petitions for redress.
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