Your Influence Counts ... Use It! The SPOTLIGHT by Liberty Lobby

Reprinted from, home of The SPOTLIGHT archive

Tax Reform Impossible Without Honest Money

  • Tax protesters and tax reformers would use their time much more wisely to join forces and stump for honest money instead of fighting among themselves ro trying to institute reforms in the current tax system that would be worse than what we already have.
By Tony Blizzard

Honest money would eliminate the onerous taxation that has destroyed America's middle class. It would end the criminal federal Reserve bank to which the people's wealth is steadily transferred.

Jim Townsend, for many years publisher of The National Educator, tried hard to organized patriots to accomplish exactly that with his Redeem Our Country organization (with SPOTLIGHT cooperation), the only concerted attempt thus far to eliminate the Federal Reserve Bank.

Simply put, honest money requires but a few principles:

  • Proper money must be issued by the government. Private money must make its owner a profit or perish, therefore the public can never have full value of such money. The unseen hand of the owner is in every exchange, taking its cut. This is why a year 2000 Federal reserve Note will buy about one or two percent of the value exchanged for a 1920s note of the same denomination. Its value is depleted by the unpaid debt created through 80 years of wealth (credit) transfer to the Fed.
  • The only need of a federal tax in an honest money system is to take an inflationary excess out of circulation if the need for it is reduced. Taxing for this purpose, rather than being a wealth-stealing burden, becomes a wealth preserving blessing, keeping the value of the medium of exchange constant. This should be the ardent desire of all tax reformers.
  • The bulk of money must not be a commodity as commodities can always have their value manipulated. Note how George Soros broke the Bank of England in another SPOTLIGHT article. It must be a medium of exchange -- the true purpose of money -- not a "store of value," Which is but a euphemism for a commodity.

However, a dual system could be made to work reasonably well. Commodity, or store of value money, would be bought, sold and hoarded for its hoped for changes in value by those who could afford to so speculate, while medium of exchange money would keep business on an even keel with its computer regulated, constant volume and value.

Notice that honest money does not come into existence through loans. therefore two wonderful, common sense, "miracles" occur.

  1. There is no usury to be paid to anyone for the use of the medium of exchange, therefore there is no extra hand in the middle of each transaction gathering a portion of the nation's wealth for itself while gradually reducing the value of the money.
  2. Instead of the medium circulating only until the banker who loaned it is repaid, whereupon that much of our money is extinguished by a bookkeeping entry, the medium continues to circulate until it is replaced due to wear. this means the banker no longer controls the volume of money in circulation for his own profit trough expansion of loans (inflation) and contraction of them (depression).

Honest money would return America to the prosperous, middle-class oriented, Mecca of commercial opportunity it once was. Federal taxation would no longer be a vexation.

Our present virus of dishonest money will keep us in sickly bondage by some form of its symptom of heavy taxation o matter what political snake oil we apply in the vain hope of easing that symptom.