Hey Buddy, Can You Spare A Trillion?  PT 3
A Look At Thomas Jefferson’s Economic Warnings

By Lisa Richards
October 20, 2009

“The flood of paper money, as you well know, had produced an exaggeration
of nominal prices and at the same time a facility of obtaining money,
which not only encouraged speculations on fictitious capital, but seduced
those of real capital…to contact debts too freely.”
Thomas Jefferson: To Albert Gallatin, Monticello
December 26, 1820

In 1820, Thomas Jefferson wrote to Albert Gallatin, telling him Congress,
when undecided about where to spend money, simply squanders capital on
“fathomless funds of our [American] treasury.”  One hundred and
eighty-nine years later, Congress still acts like a shopaholic in need of
credit card rehab.

What will it take for America to learn that over printing paper money,
over spending treasury, excessively lowering interest rates and bailing
out “squanderers” is destructive?  First Adam Smith warned the world not
to borrow and lend recklessly—do so only in times of disaster, such as
war—and Thomas Jefferson, who gave the same warning 43 years later.  And
we did not yet have the Federal Reserve, the actual cause of the Great
Depression.

The problem is not the American people over-spending money.  Freedom says
we should, and must, have rights to spend our money however we choose.  It
is government, who taxes us too high, as punishment for earning what they
consider too much (despite the fact earners create the economy), and then
over-spends tax money we are punished and forbidden from spending on
ourselves.

New York state taxes are so high, in the past eight years, one million New
Yorkers left the state, seeking low-taxed states.  And the crazy New York
governor has punished the wealthy by enacting a “Millionaire’s tax.”
Heaven forbid citizens are allowed to earn and keep money.  Oh no; we
should all be equal rather than free.

Obama wants caps on salaries over certain amounts.  If one level is
capped, eventually all must be.  If Wall Street banks fall under
government control, eventually all money will unless we stop reelecting
smug, self-centered, wealthy anti-capitalists destroying the free market
they abuse for their personal coffers.

On February 15, 1791, Thomas Jefferson wrote his “Opinion on the
Constitutionality of a National Bank.”  He said the establishment of “…a
National Bank…” was allowing corporations the use of Mortmain,
non-transferable, non-sellable property by organizations—churches,
person’s.  The Constitution still controls The Mortmain and Charitable
Acts of 1888 and 1891, keeping it law.  Today’s banks however technically
broke Mortmain by abusing lending laws: lending to the poor, who cannot
repay because they cannot afford, thus banks are now in control of vast
amounts of toxic assets they continue buying up at cheap sums.  Yet the
wealthy cannot take out loans.  Now non-sellable, no-transferable property
has become Mortmain, “dead-handed.”  And the government is in control of
bank assets.

Jefferson warned that government control wields “…power to make laws
paramount to the states…” He said of Congress “laying taxes:” “They are
not to lay taxes ad libitum for any purpose they please; but only to pay
the debts or provide for the welfare of the union.”  Jefferson further
declared: “In like manner, they (Congress) are not to do anything they
please to provide for the general welfare, but only to lay taxes for that
purpose.”

Congress has done whatever it pleases against the will of the people who
elected them.

Congress has raised taxes to extremes, telling us it is the only way to
pay off their trillions.  But according to the Washington Times October 5,
2009 reporter Sean Lengall, Federal Reserve Chairman Ben Bernanke and
Treasury Secretary Hank Paulson gave banks $125 billion in bailouts
claiming it would prevent a banking collapse.  The TARP (Troubled Asset
Relief Program) was to prevent another 1929 Wall Street crash, rather, it
created more government control with incoming tax hikes.  Banks were not
collapsing, they were stable.  Restrictions for bailouts were never set in
place to prevent failure reaching the public.  The $700 billion stimulus
bail-out lacked federal oversight on how tax-funded money: “The Treasury
Department used bailout money for just about everything other than
purchasing troubled assets.”

On April 24, 1796, Jefferson wrote Phillip Mazzei in a letter titled “The
Boisterous Sea Of Liberty” stating:

    “The aspect of our [American] politics has…changed since you left us.  In
place of that noble love of liberty, & republican government which
carried us triumphantly thro’ the war, an Anglican monarchial, &
aristocratic party has sprung up, whose avowed object is to draw over us
the…form of the British government…Against us are the Executive, the
Judiciary…all timid men who prefer the calm of despotism to the
boisterous sea of liberty…speculators & holders in the banks & public
funds, a contrivance invented for the purpose of corruption… ”

Jefferson would be appalled to see the state of our nation today.  It’s
run by despotic sissies and Marxist monarchs.  However, Jefferson would
utter to us these words he wrote to John Taylor on June 4, 1798 in a
letter titled “Patience And The Reign Of Witches.”  For Barney Frank I’ll
replace the “W” in “witches” with a “B.”

    “It is the old practice of despots to use a part of the people to keep
the rest in order,     and those who have once got an ascendency and
possessed themselves of all     resources of the nation, their revenues and
offices, have immense means for retaining their advantages.  But our
present situation is not a natural one…but are There not events
impending…the public and authentic avowal of sentiments hostile to the
leading principles of our Constitution…land-tax…increase of public
debt…in every free & deliberating society there must be…opposite parties
& violent dissentions & discords, and…one of these must prevail over the
other…Perhaps this  party division is necessary to induce…the people the
proceedings…If to rid ourselves of the present rule…A little patience,
and we shall see the reign of witches pass over, their spells dissolve,
and the people, recovering…[and] restor[ing] their  government to its
true principles.”

It is up to We the people to remove Nancy Pelosi and her pack of flying
monkeys from the Hill.  We have the power of the vote to dissent, prevail,
and restore our founding principles.  Let us not back down from our fight
to restore our “true principles.”