Common Law, Bill of Restraints, Golden Nails, HSOM Ep 3 & 4, Income Tax

55) “Original dollars (Constitutional money) that was convertible into gold was money that represented a unit of man’s labor. Federal Reserve money represents nothing but man’s greed and man’s desire to get something for nothing. It’s the Fed’s mistaken concept that by creating “money” out of nothing, they can revive a listless economy.”

–      Richard Russell, Dow Theory Letters, August 16 2013


56) “This morning, not only is the Rupee down to yet another ALL-TIME LOW, but in spectacular fashion – by 2.4%, to 63.12 Rp/dollar! Frankly, the Indian government could post tanks and infantry at its borders – yet still, gold and silver will be smuggled into the country in unprecedented amounts.” Andy Hoffman, Miles Franklin, August 19, 2013

57) “We, the People created the several states from our Common Law, The Law of Immemorial Antiquity, which is also known as the Rule of Law. We endowed the states with powers we had from the common law to protect us. We could not grant the state any power that we did not possess!


Example: Each of us does not have the right take money from one’s neighbor and give that money to another. That is not within our inherent rights. Hence, we then cannot delegate such a right that we did not originally have to the state. Therefore, the state cannot take money from one’s neighbor and give it to another.” Ronald MacDonald and Robert Rowen , “They Own It All (Including You)”

58) “If the money masters were all powerful, gold would remain at $21.66 per ounce!  The fact that gold prices are over $1300 shows that the price manipulators, or price liars, are failing…By the time 1% of the population of the USA, or 1% of the wealth sitting in the banks tries to protect itself from inflation and buy silver, the price of silver will be headed over $500 dollars per ounce.  The math is rather simple.  There is only about 700 million ounces produced each year, and most of that is purchased by industry.  There might be a maximum of 300 million ounces of silver newly available at any price for new investors.  Thus, 1% of money in the banks is about $180 billion.  So the price is $180,000 million / 300 million, which is $1800/3, or $600/oz.

As I see it, the price you pay for silver is like an IQ test for our economic era.  Anyone getting silver under $500/oz., is in the top 1% on the Silver IQ test, and is about three standard deviations above the mean smarter than everyone else!  Therefore, consider how smart you must be to be buying silver today!” Jason Hommel, Silver Stock Report, August 20, 2013


59) “Gold is money, and everything else is credit.” J.P. Morgan, circa 1910 Jekyll Island, Georgia at the meeting during which the Federal Reserve was conceived and 3 years later was forcibly signed into legislation by President Woodrow Wilson


60) “Printing and currency debasement has never worked and it never will.  What lies ahead is a chaotic collapse of any asset reliant upon the integrated web of fiat money creation.  Most people refer to it as hyperinflation of prices.  In our mind, it makes more sense to refer to it as hyper-devaluation of paper currencies — an instantaneous, hyperbolic collapse relative to real assets.  As was reiterated this week, gold is not going up, the currencies are going down with increasing volatility and speed.


At some point, paper currencies will collapse down the elevator shaft of history.  While the elevator shaft is linear, gravity makes the experience much more terrifying.  Time is running very short for people to convert as much fiat currency assets into real assets as possible.  The stampede into gold and silver continues apace.  One can only wonder about when panic will ensue for industrial users dependent upon silver in a declining production, increased demand world.” Robert Fitzwilson


61)  “Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence.  Destroyers seize gold and leave to its owners a counterfeit pile of paper.  Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it.  This kills all objective standards and delivers men into the arbitrary setter of values.  Gold was an objective value, an equivalent of wealth produced.  Paper is a check drawn by legal looters upon an account, which is not theirs:  Watch for the day when it bounces, marked “account overdrawn.” Ayn Rand


62) “Extremists often predict dire or catastrophic consequences from a situation or from a failure to follow a specific course, and they tend to exhibit a kind of crisis-mindedness. It can be a Communist takeover, a Nazi revival, nuclear war, earthquakes, floods, or the wrath of God…Nowadays, instead of dressing in sheets or publicly espousing hate messages, many extremists will talk of individual liberties, states’ rights, and how to make the world a better place…In U.S. history, there are many examples of extremist ideologies and movements. The Colonists who sought to free themselves from British rule and the Confederate states who sought to secede from the Northern states are just two examples.” Department of Defense training manual, section entitled Extremist Ideologies


63) “While the first 8 amendments are known as The Bill Of Rights, this is misnomer. Rights came from the Creator, not the Constitution. Those amendments were really a Bill of Restraints against the federal government from ever moving on those common law rights. Don’t believe us? Here is the preamble to the ‘Bill of Rights’

The Conventions of a number of the States having at the time of their adopting         the Constitution, expressed a desire, in order to prevent misconstruction or     abuse of its powers, that further declaratory and restrictive clauses should be       added: And as extending the ground of public confidence in             the Government, will best insure the beneficent ends of its institution…


The preamble clearly states that the amendments are restrictions against the central government. The amendments were not a declaration of rights the people already possessed! Rights never did come from the constitution. Rights are inherent in man.” Ronald MacDonald and Robert Rowen , “They Own It All (Including You)”


64) “When in the course of human history, it becomes time to free oneself from governmental tyranny, it is necessary to state the reasons for such liberation.


1) All taxation is theft and a violation of individual rights and self-ownership.

2) All laws are tools of enslavement designed to keep us in a mental prison.

3) Voting is a joke and gives no authority for one person or group of people to rule another group.

4) Statism, like all religions, is about submission to authority, not the elevation of one’s own value as a human being.

5) Violence is a barbaric way to control people and should only be used in self-defense.

We are not sheep to be corralled, prodded, and slaughtered. We are free human beings with the rights to self-ownership, self-determination, and self-respect. We declare that we are the owners of this planet and shall treat it and each other with respect and love.

No more wars, no more disease, no more death, no more hatred. Only peace and voluntary cooperation. Amen.” Declaration of Freedom/Anarchist Manifesto


65) “One hundred percent of what is collected is absorbed solely by the interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government.” — “The Grace Commission Report,” 1984


66) “The US Dollar is about 60% of the value of all the currency on the planet and more than half of the dollars reside outside the United States.”


67) “Here are the golden nails in the coffin for the US dollar standard.

1) Nixon Removes Gold Backing 1971

2) Iraq Sells Oil in Euros

3) Following the 2008 crisis the Federal Reserve adds $1.25 trillion to the US base money.

4) Iran Ends Dollar Oil Sales (instead using local currency or gold)

5) Quantitative Easing 2 adds $600 billion to US base money

6) Libya to Sell Oil in Gold Dinar

7) China and Russia Bypass Dollar using a bilateral trade agreement by holding each other’s currency and doing a direct debt settlement without having to wire transfer US dollars

8) Chinese President says dollar reserve currency “product of the past”

9) Utah recognizes Gold and Silver as Money

10) China and Iran Bypass Dollar with bilateral trade agreement

11) Venezuela Repatriates Gold

12) China and Japan trade directly

13) India and Japan bypass US dollar

14) Russia and Iran trade directly

15) Iran sells India oil for Rupees, Commodities

16) China and Brazil trade directly

17) Swiss citizens demand gold repatriation

18) African countries ban US dollar (In Zambia you can go to jail if you use US dollars)

19) Quantitative Easing 3 = Print to Infinity ($85 billion per month)

20) Iran trading energy for gold

21) Singapore removes tax on MONEY (bullion)

22) Germany repatriates 150 tons of Gold from NY Federal Reserve

23) Citizens of Netherlands demand gold repatriation

24) Ecuador to repatriate part of gold reserves

25) Austrian citizens demanding gold repatriation

26) China acknowledges “fundamental market shortage of gold”

27) State owned “China National” buys African gold

28) Azerbaijan repatriates 15 metric tons of gold from JP Morgan in London

29) The Federal Reserve increases printing speed to over $1 trillion/year

30) Japan increases printing speed to over $1 trillion/year

31) People’s Bank of China says “If government where to buy too much gold, gold prices would surge, a scenario that would hurt Chinese consumers.” March 13, 2013

32) Reserve Bank of Australia to buy China Government Bonds (bilateral currency swap)

33) 40% of Global Central Banks invested in or considering Yuan

34) China suggests sale of “most complete and liquid” reserves (US Treasury bonds)

35) Chinese Hong Kong gold imports total 635 metric tons through the end of May 2013, Already 204 metric tons more than 2011

36) USDA says “1/3 of Americans (101 million) on Food Assistance

37) Consumer Metrics Institute Calls US Recovery a “Sham”

38) Bank of England signs Yuan Swap worth $33 billion

39) People’s Bank of China to settle cross border directly

40) European Central Bank seeks Yuan Swap worth $133 billion

41) Banks value gold over dollars – negative forward rates (banks will pay you interest for storing your gold as collateral for a loan)

42) First time in history gold forward rates are negative out 6 months (banks will pay negative interest to the borrower if you provide gold as collateral)

43) Temp work agency becomes 2nd largest US employer

44) US and Canadian Mint silver sales now exceed domestic mine supply for both countries (rush into tangible assets)

45) Shanghai Gold Exchange delivers 9 times physical gold of COMEX (US traders only settle in dollars whereas Chinese investors only settle in gold)

46) US Chamber of Commerce Survey “74% of small businesses will fire workers, cut hours under Obamacare”

47) 450 metric tons of gold (net) exits COMEX and GLD vaults in 2013 (some goes to China and some to the global Central banks)

48) Gold to replace the US Dollar as Yuan reference”


Mike Maloney, Hidden Secrets of Money Episode 3


68) “If the economy were a cocktail drink it would be called a Kamikaze.” Peter Schiff


69) “The ‘anarchist/voluntarist’ point of view is that government is an irrational concept, which boils down to people telling other people what to do at the point of a gun, or using the circular logic that their code applies because their code says so.” Marc Stevens


70) “The state doesn’t actually exist. It is just a group of individuals in costumes, listening to other people in costumes, committing massive crimes.” Jeff Berwick


71)  “At the start of World War I the exchange rate had been a mere 4.2 marks to the dollar.  In simple terms you needed 4.2 marks in order to get one dollar.  Now it was 2 billion marks to get one dollar.  And thirteen months from this date (late November 1923) you would need 4.2 trillion marks to get one dollar.  In ten years the amount of money had increased a trillion fold.


A million dollars is enough to pay you $500 per week for 40 years (and that’s without benefit of interest).  To get a billion dollars you would have to set aside $500,000 dollars per week for 40 years.  And a trillion would require $500 million every week for 40 years.


In the middle of 1914, just before the war, a one pound loaf of bread cost 13 cents.  Two years later it was 19 cents.  Two years more and it sold for 22 cents.  By 1919 it was 26 cents.  Now the fun begins.


In 1920, a loaf of bread soared to $1.20, and then in 1921 it hit $1.35.  By the middle of 1922 it was $3.50.  At the start of 1923 it rocketed to $700 a loaf.  Five months later a loaf went for $1200.  By September it was $2 million.  A month later it was $670 million (wide spread rioting broke out).  The next month it hit $3 billion.  By mid month it was $100 billion.  Then it all collapsed.


In 1913, the total currency of Germany was a grand total of 6 billion marks.  In November of 1923 that loaf of bread we just talked about cost 428 billion marks.  A kilo of fresh butter cost 6000 billion marks (as you will note that kilo of butter cost 1000 times more than the entire money supply of the nation just 10 years earlier).” Art Cashin on German Weimar Republic hyperinflation


72) “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.  By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. Those to whom the system brings windfalls become profiteers.” John Maynard Keynes


73) “Commercial banks create checkbook money whenever they grant a loan, simply by adding new deposit dollars in accounts on their books in exchange for a borrower’s IOU.” Federal Reserve Bank of New York, “I Bet You Thought”


74) “The decrease in purchasing power incurred by holders of money due to inflation imparts gains to the issuers of money.” Federal Reserve


75) “Our entire monetary system is nothing but a form of legalized theft.” Mike Maloney, Hidden Secrets of Money Episode 4


76) “The stockholders [of the Federal Reserve] receive an annual dividend of 6%.” Federal Reserve website (


77) “Bond is the root word from the bondage. It is a form of enslavement. Whenever a government issues a bond, it is a promise make us pay tax in the future.” Mike Maloney, Hidden Secrets of Money Episode 4


78) “No generation has a right to contract debts greater than can be paid off during the course of its own existence.” George Washington


79) “The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in iniquity and born in sin. Bankers own the Earth. Take it away from them, but leave them the power to created money and control credit, and with the flick of a pen, they will create enough money to buy it back again. But if you want to continue as the slaves of bankers and pay the cost of your own slavery, let them continue to create money and to control credit.” Sir Josiah Stamp, Director of the Bank of England


80) “Maximum prosperity can only be achieved through individual freedom, free markets, and sound honest money.” Mike Maloney


81) “The factors which affect value, spell DUST (Demand Utility Scarcity Transferability).”


82) “The four choices of a new monetary system consist of Multiple Reserve Currencies, Special Drawing Rights, Gold Standard, and Chaos. I favor gold but I fear we may get chaos.” James Rickards, author of “Currency Wars”


83) “Gold always accounts for an expanding fiat currency supply.” Mike Maloney, Hidden Secrets of Money Episode 3


84) “In 1959 France and other countries call USA’s bluff as foreign central banks started asking for their gold back at $35/oz. During this run on gold the US lost 50% of its gold from 1959-1971 when President Nixon removed the US dollar from its gold backing.” Mike Maloney, Hidden Secrets of Money Episode 3


85) “When you charge your credit card you are creating currency. The bank didn’t loan you any money. They just invented some numbers and then they have the gall to charge you interest on those created numbers. Credit card debt is known as Outstanding Revolving Credit.” Mike Maloney, Hidden Secrets of Money Episode 3


86) “If gold were to cover the currency supply today it would be priced at $13,400/oz for history to repeat and for it to do the same thing it did in 1934 and in 1980. If you include the same overshoot as in 1980, it would require $24,000/oz gold. However since the Federal Reserve stated it will continue Quantitative Easing to 2015 until unemployment decreases and the economy gets back on track we would need $26,000/oz gold to cover the currency supply. If you include the same overshoot as in 1980, it would require $47,000/oz gold.” Mike Maloney, Hidden Secrets of Money Episode 3


87) “The is a New World Monetary System coming. It happens every 30-40 years except this time, instead of a baby step off of gold, we’ve got to go from nothing back to something. It’s going to be a world wide convulsion, the scale of which has never been seen before.” Mike Maloney, Hidden Secrets of Money Episode 3


88) “The fundamental driver of gold is that gold is not in a bull market, it’s that the dollar is in a bear market. People ask me ‘How high can the gold go?’ My answer is ‘How low can the dollar go?’ The dollar can go to zero. If you divide any number by zero, the answer is infinity, so gold can go to infinity if the dollar goes to zero. In the real world it’s not that gold becomes worth infinite number of dollars, it’s that the dollar just falls off the stage. There will come a time when you won’t count gold in dollars anymore, because dollars won’t count. People won’t want dollars.” James Rickards, author of “Currency Wars”


89) “Huge fortunes were made in times of crisis. Henry Ford released his Model T car during the stock market panic of 1907-1908. Baxter brings medical technology to the masses during the Great Depression 1929-1939. Elon Musk releases Tesla roadster and grows SpaceX during the crisis of 2008. You have to remain calm, get educated, and be resourceful.” Scott Harris


90) “There is a global loss of confidence in the US dollar that is accelerating rapidly. The change to a new monetary system is inevitable and will most likely be chaotic. Gold Standards do not work over long periods of time, but gold itself does. The public contributes to the massive amount of currency creation by using credit cards and signing loans. Gold has already accounted for the expansion of US dollars twice in the last century and may likely do so again.” Mike Maloney, Hidden Secrets of Money Episode 3


91) “If you knew the Titanic was about to sink and you were on it and you knew there was going to be a lifeboat situation coming soon, would you like to get into the lifeboat early, get a nice seat, maybe close to the water, maybe close to the food supply right there in the middle nice and comfy or do you want to be one of the last ones on the lifeboat jockeying for a position and you have to throw a kid out to make room for you? Depending on how you like you accommodations on the lifeboat means you should be making your way towards it right now and I would be edging towards it right now!” Richard Daughty


92) “For the past 30 years the federal government has been collecting far more Social Security revenue than they’ve paid out in Social Security benefits. The difference is about $2 trillion. So what happened to this $2 trillion? Is it safely in the bank or in Social Security? No! The treasury took it and spent it and put in its place non-marketable IOUs.” Dr. Paul Craig Roberts, Assistant Secretary of the Treasury for Economic Policy under President Ronald Reagan


93) “It’s true that Congress is now overspending hundreds of billions, instead of trillions. But we wonder… what good is “slashing” a diet of four Baconators per day to two when your arteries are already 99% clogged with fat?” Peter Coyne 11/4/13


94) “It was Greenspan who was the horrid chairman of the Federal Reserve who started the ridiculous Keynesian insanity of creating all the mountains of cash and credit that allowed the bank bubble, the dot-com bubble, the housing bubble, the stock market bubble, the bond market bubble, the size-of-government bubble, the national debt bubble, and the staggering, incalculable derivatives bubble, to probably name but a few.” Richard Daughty (Mogambu Guru)

95) “If you concede to the very idea of an income tax then you believe the government owns 100% of your income, they are entitled to make a gift of whatever is left over to you, that you do not have any entitlement to the fruits of your labor, and that the government owns you. The morality behind any income tax is corrupt. When the income tax, IRS, and Federal Reserve Law passed in 1913 the income tax brackets where 1%, 2%, 3%, 4%, and the highest income tax bracket 5%. It turned out that 97% of the population did not qualify for 1% income tax so it was a “tax the rich” law and it had these very low non-burdensome taxes. During WW II and in the 1950s the highest income tax was 92%. The people who pay much income tax employ many people. If they spend all their time moving their currency around so they don’t have to pay as much to the federal government, they’re wasting their time. They need to do things to create more jobs and prosperity. Almost everything the government does limits prosperity. Regarding deficit spending, when the government spends a new unit of currency into circulation it gets its purchasing power by diluting the currency supply and stealing the purchasing power from all the other units of currency. The net gains when doing deficit spending is at most zero, but because the government has all these frictional jobs. There is almost nothing you get from the government that you would actually open up your wallet and pay for. Would you pay the IRS to hire accountants, CPA, and force you to fill out all those forms? All these frictional jobs and people have to get paid somehow. It all comes out of the prosperity of the entire economy. When the government whips up currency to do some deficit spending or sell bonds it doesn’t stimulate the economy. It warps the economy and the net is always less than zero. It destroys prosperity. It does not create prosperity.” Mike Maloney

96) “In 2006, Russia tried to ban the words “euros” and “dollars” from the media and official speech. Now, one lawmaker wishes to ban the use of dollars in Russia at all. The lawmaker, Mikhail Degtyarev, said the dollar was like a Ponzi scheme. He warned that the Russian government would have to bail out Russians holding onto dollars in the event of dollar collapse. ‘If the U.S. national debt continues to grow, the collapse of the dollar system will take place in 2017’ said Mr. Degtyarev of the Liberal Democrat Party.” Jeff Berwick 11/14/13


97) “As the West continues to devolve the insolvent and bankrupt overly-indebted governments in the West will continue to feed off of the assets of their own citizens at a rising pace – just ask any Cypriot.  This is far from just conjecture as it has happened continually throughout modern history.


In 1933, the US government confiscated the gold of its citizens and did not even allow them to own non-jewelry gold until again until the 1970s.  More recently, France has increased its top income tax rates to 75% and even tried to move them to 100% as they skirted with going “full commie”.  Never go “full commie”.


There have also been a rash of pension fund seizures throughout the West.  In 2009, Ireland seized €4 billion from its Pension Reserve fund. In 2010 Hungary told its citizens to remit their private pension funds to the government. Later in 2010 the French parliament took €33 billion from their national reserve pension fund and in 2011 $80 million in private retirement funds were transferred to the state’s pension scheme in Bulgaria.  And, in September of this year the Polish government confiscated the bulk of the assets of the country’s private pension funds.


Think it won’t happen in the US?  In fact, it already has.  Every penny of Socialist InSecurity funds have already been taken and spent by the US government with an IOU left in its place.  And Congress has had initial talks about nationalizing IRAs” Jeff Berwick

98) “Statistics are the eyes and ears of the bureaucrat, the politician, the socialistic reformer. Only by statistics can they know, or at least have any idea about, what is going on in the economy. Only by statistics can they find out . . . who ‘needs’ what throughout the economy, and how much federal money should be channeled in what directions.” (“Statistics: Achilles’ Heel of Government” by Murray N. Rothbard)


99) “Statistics are the critical tools of the central planners. Their growth in usage tracks the retrenchment of free markets from the economic landscape. Their manipulation reflects the deterioration of an economy.” Christopher P. Casey


100) “There are three kinds of lies: lies, damned lies, and statistics.” Mark Twain


101) “In spite of its alluring name, the welfare state stands or falls by compulsion. It is compulsion imposed upon us with the state’s power to punish noncompliance. Once this is clear, it is equally clear that the welfare state is an evil the same as each and every restriction of freedom.” Wilhelm Ropke, Austrian Economist 1899-1966


About Danilo

A practitioner of Eastern Healing arts with degrees in Acupuncture and Chinese medicinal herbs, I have always questioned the status quo, a path which led me to peaceful anarchism. Through my journey, I have worn many hats, that of a classical pianist, avid chess player, philosopher, comedian, and now father of two little anarchists. My wife brands me as a Cultural Critic, but I am simply following my thirst for knowledge and passion for writing.

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Posted in Awesome Economic Quotes, Awsome Quotes.

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