Posted in Uncategorized, tagged American Civil War, Congress, currency, Ellen Brown, Federal Reserve System, Gary North, Greenbacker, Greenbacks, paper money, unconstitutional on April 29, 2012 |
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Gary North, in attacking Ellen Brown for her support of government-issued credit, has repeatedly referred to her as a “Greenbacker.”
He states, without reference, that she is “a Greenbacker by confession.“
It’s ironic that North got on his high horse and claimed to have discredited her book, Web of Debt, by pointing to errors in it, yet failed to do research into his own bogus claim that she is a Greenbacker.
The Greenback movement refers to those who supported the issuance of interest-free paper money at the federal level during the Civil War era and in the subsequent years of the late 19th century.
Had North done even the most basic amount of research — which he claims Brown failed to do regarding some of her claims — he would’ve come across her proposal (on page 455) for:
A bill to update the Constitutional provision that “Congress shall have the power to coin money” so that it reads, “Congress shall have the power to create the national currency in all its forms, including not only coins and paper dollars but the nation’s credit issued as commercial loans.”
Calling for a constitutional amendment to make Greenbacks constitutional means that Ellen Brown is not a Greenbacker, since she is saying that the Greenbacks that were issued at the time were unconstitutional, and would be unconstitutional if issued today, until an amendment is passed.
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Posted in Uncategorized, tagged Abraham Lincoln, American Civil War, Civil War, constitutional, debt, Federal Reserve, fractional reserve banking, Greenbacks, interest, Michael Badnarik on October 24, 2011 |
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Michael Badnarik, 2004 Libertarian presidential candidate and “Stepfather of the Constitution,” was asked the following question by a caller on his October 2, 2008 radio show (at 48:44):
“During the Civil War, Abraham Lincoln printed Greenbacks in order to finance the army of the North and to pay his soldiers and buy goods. Couldn’t we do the very same thing? Couldn’t we abolish the Federal Reserve and the fractional reserve banking system and go to constitutional money printed by the Treasury and controlled by Congress, which would, we would not have to pay interest on that debt, and we could pay our debts without the interest applied? Wouldn’t that solve the whole problem?“
“That’d be a step in the right direction, I think.“
Despite being a hard money advocate, notice how he didn’t take exception with United States Notes being unconstitutional as he has with blatantly unconstitutional acts like the USA PATRIOT Act, 2001, and the Military Commissions Act, 2006.
For where some people get the idea that interest-free fiat money is constitutional, see my articles: The “necessary and proper” clause: it’s not meaningless, and The Constitution doesn’t prohibit both the states and federal government from issuing fiat money.
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