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| - You probably don’t remember me but we met several times briefly during the 2006 political campaign. I was running for the Pennsylvania State Legislature from the 44th District. I have remained active politically as a member of the Allegheny County Democratic Committee. As we all know, the current global financial crisis originated on Wall Street. We also know that this disaster could have been prevented with proper government oversight and regulation. Unfortunately, the multi trillion dollar bail out packages that have been proposed will be funded by massive borrowing from the global credit markets and/or by spending tax money that is badly needed for other purposes. There is a better way to deal with this crisis. Since June of 2004, I have been promoting the idea of United States Constitution based monetary and economic reform. I have made many phone calls and sent numerous letters, faxes and E-mails to politicians, the media and academia only to be stonewalled by a monolithic silence. Article 1, Section 8, Paragraph 5 of our Constitution grants Congress (not the Federal Reserve) the power to “coin money, regulate the value thereof, and of foreign coin.” In 1913, Congress, in violation of the Constitution, gave this power to the Federal Reserve (Fed). I am not writing to you to start a debate about the legality of the Fed. My purpose is simply to remind you that Congress still has the power to issue money, without borrowing, and regulate it’s value. I now have a web site, www.rayuhric.com where I clearly outline a way to fully fund all domestic government spending without borrowing from the global credit markets or raising taxes. Raiding the social security and Medicare trust funds and borrowing trillions of dollars is irresponsible and unnecessary. It is also contrary to the Constitutional mandate that requires you “to promote the general welfare of the American people.” With two ongoing, expensive wars, a national debt soaring to 11.3 trillion dollars, a global financial crisis and an economy in recession and heading lower, the time has come to turn away from Wall Street and look to the Constitution for guidance. In the near future, I will be interviewed on the Chris Moore Show on the Pittsburgh radio station KDKA. At that time I will explain to the public that our gigantic national debt is a political scandal that we must not continue to tolerate. In 1835, President Andrew Jackson paid off the national debt. In 1862 President Abraham Lincoln issued $449,338,902 worth of, debt free, legal tender, United States Notes (Greenbacks). This money was used to fund the Civil War and save the nation from destruction. In 2008, Congress must follow their example and stop the irresponsible and unnecessary deficit spending. Our exploding national debt threatens to destroy the country as surely as a civil war. I want to state, emphatically, that Treasury issued United States Notes should only be used for domestic government spending. This debt fee money should not be used to bail out the banks and lending institutions that caused the global financial crisis and plunged our economy into recession. On my web site, I explain how we can use U.S. Notes to stimulate the economy and provide credit to businesses and consumers, without borrowing. Please go to my web site and examine my monetary and economic reform proposals. If you agree with me, there is no reason why you can’t immediately introduce legislation to implement these reforms. If you feel that I am wrong and you choose not to pursue these reforms, E-mail me a point-by-point explanation of why you take this position. The time has come for our elected political leaders to explain to the American people why Congress continues deficit spending when the Constitution clearly enumerates a fiscally responsible alternative. Your response will be placed on my web site and I will read it on the Chris Moore radio program. Thank you for your timely reply.
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