3 votes

The USA Can Default Legally, and Here's How:

The Fourteenth Amendment states:

Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.

What would you call these actions?

  • Abrogated Congress' duty to regulate the coining and issuance of money.
  • Did so, in the middle of the night, with only three Senators present.
  • Enabled the laying of taxes on the citizenry, where no such power had existed before.
  • Did so in an underhanded way, which never quite actually got it properly ratified.
  • Removed the States' representation at the Federal level, by providing for the direct election of Senators, where they were originally appointed by the legislatures of the respective states.
  • Collects taxes from the people, without having an actual law which requires the people to pay it. Uses "color of law" to coerce the citizenry into paying the danegeld.
  • Has consistently wheedled, cajoled, manipulated and otherwise influenced legislators, executives and bureaucrats at every level of our government, Federal or those of the various states.
  • Is not afraid to bare its teeth, promising martial law in our streets, if legislators do not keep up the facade, for instance.

I'd consider 1913 to be a year in which an insurrection was launched against the United States -- one which succeeded. I suspect that an intellectual, and possibly a legal, case could be built which would support this theory, by someone who would take up this task, and who would do it credibly.

What does all this mean?

Recall:

But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States ...; but all such debts, obligations and claims shall be held illegal and void.

WE DON'T OWE THE DEBT PILED ON US BY A JUNTA BEGUN IN, AND SUSTAINED SINCE, 1913.



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Murray Rothbard: Reputiating The National Debt

audio: http://mises.org/media/7671/Repudiating-the-National-Debt

He says public debit is not a valid contract, distinct from private debt where the understanding is that the borrower is acting on his own behalf, no one else's, and will be paying back the debt himself.

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"Bipartisan: both parties acting in concert to put both of their hands in your pocket."-Rothbard