Debt ceiling day of reckoning
Patriots, the Day of Reckoning is coming. Will Barack Obama Use The 14th Amendment As A Way To Get Around The Debt Ceiling?
What has the 14th Amendment to do with the debt ceiling?
Amendment 14, Section 4 of the Constitution reads in part:
The validity of the public debt of the United States, authorized by law,…shall not be questioned.
- Keep in mind, the referenced “nuclear option” clause in the Constitution says that since “default” on our debt would begin the spiral to financial ruin it could cause a “national security threat” and the president would have the authority to act unilaterally to raise the debt ceiling.
- Keep in mind, not raising the debt ceiling does not mean default. The U.S. takes in 2.2 trillion dollars in tax revenue a year, so on the surface it is difficult to see why saying “no” to the increase would cause the collapse.
Role of the Federal Reserve
Here’s the kicker: since the Federal Reserve is not a transparent agency we cannot ”audit their books” (since its unconstitutional start in 1913 the federal reserve has set monetary policy in the U.S.). “We the people” have no way of knowing what notes are due for payment, how much is due and most importantly when those scheduled payments are due. We are clueless. We don’t even know that there is positive cash flow in the Fed. My personal theory: we have a negative balance. We have been digitizing (new tech word for printing) so much money for so long for so many “programs,” real and corrupt, that any real cash flow to the Treasury has already been spent! Think about it as the mortgage payment you make, that the bank deducts from your account monthly. It’s gone before you even know it’s there. You and I can’t print money, but the feds can. That’s why they won’t allow us to see the books. If they did, the jig would be up. Would anyone continue to deposit money in a bank if they knew that the bank was not keeping the money in the vault?
What shall “we the people” do?
Don’t panic! We’ll survive. But times are going to get real tough. Keep doing what you can to reduce your own debt. Interest and the costs to you and your family will rise. Don’t spend what you don’t have. Minimize credit. Restore faith in God, not government.
Today, Senator John Cornyn (R-TX), appearing on Fox News Sunday, told host Chris Wallace that any talk of using the 14th Amendment to let the President raise the debt ceiling by himself is “crazy talk.”
It’s not acceptable for Congress and the president not to do their job and to say somehow the president has the authority then to basically do this by himself.
Senator Jeff Sessions (R-AL) said flatly that the Congress, and only the Congress, has any authority to decide what to do about the debt ceiling.
Featured image: A Weimar Republic citizen wheels a barrow full of near-worthless Reichsbanknotes to the corner baker to buy a loaf of bread.
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