The power of III

Summum ius summa iniuria--More law, less justice

12 November 2010

Justifying a Revolution, then and now.

The situation in which we currently find ourselves is very similar to what led to the American Revolution against King George III of England.

#1 As a result of the Seven Years War with France, King George III of England was deeply in debt to the central bankers of England.
#2 In an attempt to raise revenue, King George tried to heavily tax the colonies inAmerica.
#3 In 1763, Benjamin Franklin was asked by the Bank of England why the colonies were so prosperous, and this was his response....
"That is simple. In the colonies we issue our own money. It is called Colonial Script. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers.
In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one."
#4 The Currency Act of 1764 ordered the American Colonists to stop printing their own money.  Colonial script (the money the colonists were using at the time) was to be exchanged at a two-to-one ratio for "notes" from the Bank of England.
#5 Later, in his autobiography, Benjamin Franklin explained the impact that this currency change had on the colonies....
"In one year, the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the Colonies were filled with unemployed."
#6 In fact, Benjamin Franklin stated unequivocally in his autobiography that the power to issue currency was the primary reason for the Revolutionary War....
"The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the prime reason for the Revolutionary War."
#7 Gouverneur Morris, one of the authors of the U.S. Constitution, solemnly warned us in 1787 that we must not allow the bankers to enslave us....
"The rich will strive to establish their dominion and enslave the rest. They always did. They always will... They will have the same effect here as elsewhere, if we do not, by (the power of) government, keep them in their proper spheres."

The parallels to our current situation are clear:

Various progressive Republican and Democratic administrations have expanded the Welfare-Warfare state since the time of Lincoln and Clay's "Internal Improvements" at the point of a bayonet. 

The State has burgeoned since then, growing at a gathering pace over the past 100 years until it is a Leviathan, destructive of the prosperity and liberty of the productive majority of the nation.

The State has grown fat on taxes, then increasing debt, then on currency debasement.

The boom bust cycle of business that is created by the market interventions of the Federal Reserve has led to increasing unemployment, decreasing value of what we call our "money", and inevitable voter discontent.

So we all know we are pissed off.  

Constitutionalists are pissed off about how individual liberty has been lost, and the constitution ignored by those who swore an oath to preserve protect and defend.  

The progressives and overt Marxists are pissed off because they were all charged up about their "mandate" in '08, and are bitterly disappointed by any moderation by Obama on the one hand, and the rejection of their agenda by the electorate earlier this month.

Anyone on welfare in this country is scared to death that the gravy train is over.

Left, right, or independent, everyone is scared to death about the state of the economy.  Unemployment and underemployment is very high, and we all know that any positive monthly announcements by the government about jobs created or manufacturer's orders or inventory moves or the like is just so much window dressing.

My question is:  What event is going to set off the powderkeg?  Will we creep along in doldrums for years, or are we going to take to protests like in London, France, or Greece?  Do we have to wait until we have nothing left to lose?

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