At the time of the founding of the United States of America, and at various times thereafter, there was much heated debate over whether the new nation should have a central or national bank. The founders had seen what havoc was wrought by the Bank of England, a central bank, and the detrimental effects it had on that nation and its empire by a devaluation of its currency which enabled the never-ending stream of wars in which it was involved. The founders also had a vivid memory of what happened when the government run colonial bank created rampant inflation by printing an infinite amount of paper money. Inflation is a hidden tax which robs people of the value of their money by devaluing the currency. This is used to pay for the government’s debts. Accordingly, there is no provision in the constitution for the creation of a central/national bank. Therefore, the Federal Reserve (the Fed) system of banking in the United States of America is unconstitutional because of its ability to print unlimited amounts of fiat currency, or paper money, thereby robbing people of the value of their dollar.
In determining the constitutionality of a central bank, with the ability to create unlimited amounts of paper currency, we can look to the constitution, our founding document, itself: “Article I Section 8 says that, The Congress shall have the power ... To coin money, regulate the value thereof ... and fix the Standard of Weights and Measures…To borrow Money on the credit of the United States.”1 In Pieces of Eight, Edwin Vieira explains in detail why the founders used such explicit language when writing this part of the constitution:
With somber hearts, knowing that no verdict or punishment can bring back life that was taken, we are glad to see justice prevail in this case. George Floyd did not need to die. May his family and friends find peace.
Many who have lost a loved one to unnecessary police violence never get to see justice for the life that was cut too short. While the vast majority of law enforcement officers seek to do their jobs with respect and empathy, those who lose sight of the humanity in the people they are meant to serve and protect damage the relationship that civilians have with officers.
The Libertarian Party continues to support ending qualified immunity, which protects police officers when they abuse the authority they are given. Those who are given authority over others ought to be held to an even higher standard than what is expected of the general public. The Libertarian Party further recognizes that many of the tragic incidents involving police officers would not have happened had unnecessary laws not created a crime out of a peaceful act. For this reason, we strongly support abolishing victimless crimes such as drug possession, sex work, gambling and working without documentation or government licensing.
Let us not waste this moment, but act with intention now so that a more peaceful future can be possible.
Joe Bishop-Henchman
Chair, Libertarian National Committee
Harry Browne was the Libertarian Party nominee for President in 1996 and 2000. Harry passed on in 2006. This article was originally published in 2003. |
On this date in 1886, the Statue of Liberty was first unveiled in New York Harbor.
You're probably aware that the Statue wasn't built in America. It was built with money voluntarily raised from the people of France — and then erected in New York Harbor with money voluntarily raised from the people of the United States.
Today, 117 years later, that America doesn't exist anymore — even though politicians love to talk about "our freedoms."
In 1886 America had an open hand to the rest of the world. America didn't fear anyone and no one feared America. Today Americans live in a state of siege.
The idea of invading the Philippines or bombing the Sudan or intervening in Nicaragua or overturning a government in the Dominican Republic or starting a war with Iraq would have seemed ludicrous to the American people in 1886. As John Quincy Adams put it, America didn't go abroad in search of monsters to destroy. Today America has troops in over a hundred foreign countries.
The 790 foot cargo ship, El Faro, was lost at sea during Hurricane Joaquin. The search operation was ended earlier this week. |
The search for survivors from El Faro has been called off, the crew consigned to the depths. We are left to mourn the loss of 33 brave mariners, 28 of whom were American. But as we mourn, we should also be angered, because their deaths may very well have been avoidable. Hurricane Joaquin wasn’t the sole culprit; it had an accomplice, and that accomplice is a monstrous piece of legislation known as the Jones Act.
Between the lines of this disaster, something should jump out at the reader: What were those sailors, in the middle of a Category 4 hurricane, doing onboard a vessel dating back to the Ford administration? In an era where we replace our phones every two years and trade in our car leases in not much longer than that, why is it that these people were stranded in the middle of a maelstrom aboard what El Faro seaman Chris Cash called a “rust bucket”?
America is becoming unrecognizable. The landscape is still familiar; the flag looks the same. But it is a changed placed.
And some places are more changed than others.
In New Jersey, the state Supreme Court has just ruled that a cop can search your vehicle if you are pulled over for any reason – and without a warrant.
A defective turn signal, for instance.
Or a seatbelt “violation.”
Basically, the NJ court has ruled that once a cop turns on his emergency lights, your Fourth Amendment rights have been forfeited.
Democratic congressional leader Nancy Pelosi once stated that when it came to government spending, there was “nothing else to cut.” All programs, departments and agencies were already cut to the bone. Not only was this a falsehood, it was a poor attempt at deception. There are many areas where government can eliminate or cut spending. If it were up to me, I would start cutting or eliminating the following:
After years of dithering, Federal Communications Commission Chairman Tom Wheeler has at last deposited the formal proposal to reclassify Internet as a public utility and subject it to federal regulation, championed by proponents as “net neutrality.”
Wheeler outlined the plan in an article for Wired magazine last week and it will be considered for a vote by the commission Feb. 26.
The plan has not yet been released to the public, but at least one FCC commissioner who has seen it isn’t taking the bait.
“It gives the FCC the power to micromanage virtually every aspect of how the Internet works,” said FCC Commissioner Ajit Pai in a statement after the plan’s release. “It’s no wonder that net neutrality proponents are already bragging that it will turn the FCC into the “Department of the Internet.”
SPRINGFIELD, Ill. — If you had a beer with the weekend’s football games or a glass of wine after some holiday shopping, then congratulations. You celebrated the 81st anniversary of the end of Prohibition.
But even though it has been eight decades since Congress stopped trying to sober us up, big government at almost every level is still trying various prohibitions.