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Posts Tagged ‘Michael Badnarik’

A small size $100 United States Note of Series...

I guest hosted George Whitehurst-Berry’s Crash! Are You Ready? on December 28, 2011, and provided in-depth analysis of my articles:

1) The U.S. Constitution doesn’t say money should be gold or silver coin

2) The Constitution doesn’t insist on a gold or silver-backed currency

3) The Constitution doesn’t prohibit both the states and the federal government from issuing fiat money

4) Three prominent hard money advocates endorse the temporary issuance of fiat money

5) Michael Badnarik on issuing interest-free fiat money like Lincoln did: “That’d be a step in the right direction”

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A small size $100 United States Note of Series...

In The Daily Bell’s November 6, 2011 interview with Ingo Bischoff, he said (emphasis mine):

“Free-market” thinking, termed by Murray Rothbard as “Anarcho-capitalism,” argues for a society based on the voluntary trade of private property and services (including money, consumer goods, land and capital goods) in order to maximize individual liberty and prosperity.

To maximize individual liberty and prosperity, the “Free Market” distributes “wealth” by a system of arbitrage where the discovery of prices is based on marginal utility analysis, and in which “Money,” the commodity with constant or nearly constant marginal utility, is the standard of value against which the value of any other commodity or service is measured. To have a “Free Market” in “Money,” therefore, is a contradiction.

As a further blow to their opposition to government-issued currency (especially debt and interest-free currency, as opposed to free banking where banks will want to continue charging compound interest), Bischoff responded to their question about his praise for Benjamin Franklin’s Bank of Philadelphia with this (emphasis mine):

Despite the lack of redemption promise, the impeccable and honest way in which the Bank of Philadelphia was run caused the value of the Pennsylvania Pound never to drop below the value of monetary coin. This remarkable fact was cited by Adam Smith in his book The Wealth of Nations, published in 1776.

For more on government-issued currency, see my articles:

1) Three prominent hard money advocates endorse the temporary issuance of fiat money

2) Michael Badnarik on issuing interest-free fiat money like Lincoln did: “That’d be a step in the right direction”

3) The Constitution doesn’t prohibit both the states and federal government from issuing fiat money

4) “The fiat money system works well if it’s tightly controlled:” Dr. Stan Monteith

5) The U.S. Constitution doesn’t say money should be gold or silver coin

6) The Constitution doesn’t insist on a gold or silver-backed currency

7) A fiat currency that lasted more than a few hundred years

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Obverse of the Series 2006 $20 bill

Three prominent hard money advocates have endorsed the temporary issuance of fiat money, with two of them particularly endorsing interest-free fiat money.

On September 18, 2011, Nelson Hultberg of the Conservative American Party outlined one of the party’s primary planks, to “enact Milton Friedman’s 4% auto-expansion plan for the Fed.

On August 17, 2011, monetary reform activist Kirk Mackenzie outlined his transition period of issuing interest-free fiat money, in moving toward a free market monetary system.

On October 2, 2008, Michael Badnarik, 2004 Libertarian presidential candidate said with regard to issuing interest-free fiat money like Lincoln did: “That’d be a step in the right direction.

Gary North, prominent writer for LewRockwell.com, has curiously stayed quiet by not smoking out these individuals as alleged false-flag infiltrators according to the same standards he used for taking exception with Ellen Brown advocating (interest-free) fiat money. Could it be that Ellen Brown was an easy target, not having any connections into the social circles he travels in, unlike these three other individuals?

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Michael Badnarik

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?

Badnarik responded:

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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Michael Badnarik.

From The New American’s January 21, 2011 article, Will Congress Create “State” Bankruptcy Law, I challenge this claim:

Sovereign immunity — the immunity of a sovereign government from being sued against its will — is part of our system of government.

Where’s that in the Constitution?

If the purpose of government is to protect inalienable rights, then how can government be immune from being sued for violating rights?

Constitutional scholar, 2004 Libertarian Party presidential candidate and former radio host Michael Badnarik has called for rescinding sovereign immunity for government polluters, and I have heard him challenge the notion generally on his radio show in the past.

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In this 2009 debate with 2004 Libertarian Party presidential candidate Michael Badnarik, Stefan Molyneux, an advocate of voluntaryism, made a statement that I find very worthy of further examination.

Namely, that the most free societies produce such prosperity that they become the most tyrannical. His argument is that immense political and economic freedom bring extraordinary economic prosperity, and the corresponding wealth generated is used to control government and use it as a tool for profit and a weapon against political enemies.

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My comments on today’s PrisonPlanet.com article about 2004 Libertarian Presidential Candidate and constitutional scholar, Michael Badnarik, suffering a heart attack. Oddly, they were scrubbed.

I first heard his Constitution classes in January of this year, and they were so enlightening, accurate and inspiring.

This man knows the requirements of a government for a free people, and never ceased in his advocation of those principles, the necessity of them, and why socialism and other forms of collectivism will destroy those freedoms and the prosperity they provide.

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