Many people are taught the Constitution of the United States will be the law with the land. Regretably, the Structure has become overlooked, considered not reasonable inside the 21st century and or else turn into irrelevant in the best way congress has acted for your past a hundred and sixty decades. The desecration of our First Constitution by Congresses previous manipulations to bypass particular posts has opened up a Pandora’s Box of contingencies which have been very little recognized with the American public. All of which continues to complement the Power Brokers to regulate the destinies of a great number of tens of millions of American’s.
In the areas of finance is where bitcoin revolution south africa the American citizen has actually been and carries on to generally be at the mercy of governmental intrusion. A authorities which has stripped absent to many of our liberties and freedoms. Now we are faced with a quandary in regards to the Constitutionality of not merely the US greenback nevertheless the at any time encroaching cyber currencies like the Bitcoin and other cyber kind currencies. Ever since 1934 when Congress amended Segment sixteen from the Federal Reserve Act the US dollar was stripped of It is backing of gold. And, at any time due to the fact 1960 the greenback was stripped of it’s backing of silver. So now the US greenback is Fiat money, meaning the one backing of our forex is definitely the faith of your US authorities.
The main issue now would be that the US dollar is simply fiat income. Bitcoins and also other cyber currencies are likewise fiat income backed up by who understands very good religion and credit. Then There is certainly the banks transfer units. The concern is who controls them? These transfer programs are definitely the pipelines that permit interbank transfers of cash. But, repeatedly who at any time is controlling them can intercept, shift cash into other accounts, maintain on to it generating interest, end you from transferring dollars and also confiscate it for bailouts, like what transpired in 2008’s financial crisis. Another concern is according to the Constitution it states that no forex are going to be designed Unless of course ti is asset backed. Each one of these asset backed currencies remain represented as Promissory notes. We needs to be reminded that asset backed notes are certificates of ownership to an real commodity or genuine dollars While using the commodity integrated to the currency by itself. The trouble would be that the value of asset backed money is either the currency has long been stolen or offered to nameless parties.
After we set all this together the currency on the US, the dollar has become void of any unilateral backing and so is Unconstitutional by functions of Congress. To put it differently congress has taken it on themselves to amend and move legislation that clearly circumvents the intent of our founding and our Constitution. We also have to remember that if the Federal Reserve Act was passed in 1913 Congress did so with no Constitutional authority to take action. Now, our forex is just backed up by what known as Government – Sponsored Company. This is a quasi-govt entity proven once again by Congress to boost the movement of credit to distinct sectors of your US financial system. Fannie Mae, Goldman Sacs and Freddie Mac are all examples of presidency – sponsored enterprises. And, everyone knows what these fiscal institutions did to your American public before 2008. They produced the worst economical disaster since the Excellent Melancholy.
What Congress has carried out with the a long time has made smoke and mirrors economic entities. All of that have now created the best prosperity disparity gap in history, designed the greatest nationwide personal debt in history and fostered not one particular Great Despair but many melancholy style economic catastrophes that have remaining a sobering realization that experienced Congress acted in superior faith by adhering for the Constitution most of our latest financial crisis would have been averted. As a substitute we are left that has a nation that may be about the verge of the best monetary catastrophe in background. All because Congress did not abide by the initial Constitution.