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New Discovery! 2023 Hottest in over 120 Million Years 2024 and beyond in prophecy Questions This Speech Just Broke the Internet Status: Not Logged In; Sign In Economy See other Economy Articles Title: A very secret agent Source: A very secret agent URL Source: http://www.atimes.com/atimes/Global_Economy/MG27Dj02.html Published: Jul 27, 2011 Author: Chris Cook Post Date: 2011-07-28 10:16:46 by lucysmom Keywords: Fiat Currency, Fed Created Tax Credit Views: 48213 Comments: 80 There is a charade playing out in Washington at the moment in respect of the completely meaningless "debt ceiling" which the US maintains as a relic from the days of the gold standard. We are told that at the US Treasury's account at the Federal Reserve Bank there will soon be no more taxpayers' dollars, and therefore the Fed will soon be unable to make any more payments or issue any more cheques on behalf of the Treasury. The money has run out. This is nonsense. It is a myth, and moreover it is a myth that Federal Reserve chairman Ben Bernanke exploded in his recent testimony to a US congressional committee. Asia Times">Click for Full Text! Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 52. #1. To: lucysmom (#0) The federal reserve is unconstitutional. Close it down, put the perps on trial and execute them for fleecing us. I'm saying they should be executed for treason. Dammit where is Andrew Jackson when we need him. A K A Stone  posted on  2011-07-28   10:18:47 ET  Reply   Untrace   Trace   Private Reply   #5. To: A K A Stone (#1) The federal reserve is unconstitutional. Perhaps you are getting the Articles of Confederation confused with the US Constitution? lucysmom  posted on  2011-07-28   10:30:56 ET  Reply   Untrace   Trace   Private Reply   #6. To: lucysmom (#5) The Federal Reserve is Unconstitutional. As is the 16th Amendment authorizing Income Tax. W/o which the FedRes is toothless. mcgowanjm  posted on  2011-07-28   10:33:44 ET  Reply   Untrace   Trace   Private Reply   #28. To: mcgowanjm (#6) As is the 16th Amendment authorizing Income Tax. W/o which the FedRes is toothless. The income tax didn't need the 16th amendment to be Constitutional, and the Fed doesn't need the income tax. lucysmom  posted on  2011-07-28   12:07:32 ET  Reply   Untrace   Trace   Private Reply   #42. To: lucysmom (#28) The income tax didn't need the 16th amendment to be Constitutional, and the Fed doesn't need the income tax. O Yes it does....for Both. And the Standing Army needs Both for war....;} mcgowanjm  posted on  2011-07-29   8:24:26 ET  Reply   Untrace   Trace   Private Reply   #44. To: mcgowanjm (#42) O Yes it does....for Both. Tax on income derived from labor was clearly an indirect tax (within the meaning of the Constitution) and never an issue. The 16th amendment settled the Constitutionality of a federal tax on income derived from property. By Fed are you referring the the federal government of the Federal Reserve? lucysmom  posted on  2011-07-29   10:45:35 ET  Reply   Untrace   Trace   Private Reply   #48. To: lucysmom (#44) (Edited) Tax on income derived from labor was clearly an indirect tax (within the meaning of the Constitution) and never an issue. The 16th amendment settled the Constitutionality of a federal tax on income derived from property. I'm not sure what dicta or law you may be referring to but it was held as early as Pollock that a federal tax that was made directly on an individual's money "made", which included the wages of both labor and speculation, and that was levied solely as a % rather than as a head count apportionment was held as a direct tax. In other words, the only way that the Central government could levy a tax on income would be to determine how much is needed, divide it by the population, and then levy that same dollar amount on EvERYONE. This made it virtually inpossible to institute an income tax system - which was their intent. war  posted on  2011-07-29   10:54:44 ET  Reply   Untrace   Trace   Private Reply   #52. To: war (#48) I'm not sure what dicta or law you may be referring to but it was held as early as Pollock that a federal tax that was made directly on an individual's money "made", which included the wages of both labor and speculation, and that was levied solely as a % rather than as a head count apportionment was held as a direct tax. From Wikipedia: Pollock v. Farmers' Loan & Trust Company, 157 U.S. 429 (1895), aff'd on reh'g, 158 U.S. 601 (1895), with a ruling of 5–4, was a landmark case in which the Supreme Court of the United States ruled that the unapportioned income taxes on interest, dividends and rents imposed by the Income Tax Act of 1894 were, in effect, direct taxes, and were unconstitutional because they violated the provision that direct taxes be apportioned. lucysmom  posted on  2011-07-29   11:23:27 ET  Reply   Untrace   Trace   Private Reply   Replies to Comment # 52.         There are no replies to Comment # 52. End Trace Mode for Comment # 52. Top • Page Up • Full Thread • Page Down • Bottom/Latest

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