- Foundation for the Advancement of Monetary Education - https://fame.org -

Legal Issues

The highest law in the United States is our US Constitution. It is a model of clarity and workability. The people that wrote it – most all of them – had been ruined by the dishonesty of the financial system of their day. They were mindful of this and wanted to protect future generations. The Constitution specifically disallows the kind of dishonest and fraudulent financial system we have today. So what went wrong?

“The legal tender quality [of money] is only valuable for the purposes of dishonesty.”
Chief Justice Salmon Chase, formerly Secretary of Treasury in President Lincoln’s administration, in dissent of Knox vs. Lee (The Legal Tender Cases, 1871)
“Emitting bills of credit, or the creation of money by private corporations, is what is expressly forbidden by Article 1, Section 10 of the U.S. Constitution.”++
U.S. Supreme Court, Craig v. Missouri, 4 Peters 410

How this happened is as much a story as it is tragic, and we continue to suffer the consequences. The types of harm suffered by students, borrowers and others should not have been possible.  And the banks and others who continue to profit from this system would need to play by the same rules as the rest of us.

“Is there any reason why the American people should be taxed to guarantee the debts of banks, any more than they should be taxed to guarantee the debts of other institutions, including merchants, the industries, and the mills of the country?”
Senator Carter Glass, Author of the Banking Act of 1933

If you want to know the truth about our dishonest and fraudulent financial system you will need to take the time to read about it here. If you want to live free from the inflation that’s sapping your savings, oppressing borrowers, and destroying our country and standard of living, you need to begin sharing this information with your friends and others.

“If, however, a government refrains from regulations and allows matters to take their course, essential commodities soon attain a level of price out of the reach of all but the rich, the worthlessness of the money becomes apparent, and the fraud upon the public can be concealed no longer.” 
John Maynard Keynes, The Economic Consequences of the Peace, 1920, page 240

The financial system and bankers that continue to enrich themselves through an unjust and unfair system do not want things to change. You can begin to learn the facts with the most basic of issues.

Simply put – the US Constitution specifically disallows the kind of financial and monetary system we have now.

++ This quotation was compiled by Paul Hein, MD in his book All Work and No Pay: Life Saving Lessons in Modern Money

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