Chuck Baldwin
September 10, 2017
The coming financial crash
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By Chuck Baldwin

In a letter to President Thomas Jefferson in 1787, John Adams wrote, "All the Perplexities, Confusion and Distress in America, arise not from defects in the Constitution or Confederation, nor from a want of Honor or Virtue, so much as from downright Ignorance of the Nature of Coin, Credit and Circulation." Thomas Jefferson would later write, "I sincerely believe with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." Jefferson would also warn, "We must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion [excess] and servitude."

Today, our nation has sunk into insolvency, and a serious financial day of reckoning is fast approaching. The governing class in Washington D.C., (in both parties) continues to load us and our posterity with perpetual debt and servitude. Most Americans are "distressed," "perplexed," and "confused" because they have not been taught sound money principles or the evils of central banking.

In 1910, a nefarious cabal of Wall Street and international bankers conspired to create the Federal Reserve System, which became our nation's central bank in 1913. Our Founding Fathers were well acquainted with the evils of central banking (beginning with the Bank of England in 1694), and they diligently sought to enshrine hard money principles into our Constitution.

In 1913, our national debt was $2.9 billion dollars, and today it is $20 trillion dollars – an incomprehensible 700,000% increase! According to the U.S. debt clock, our unfunded liabilities now exceed $100 trillion and each taxpayer is on the hook for over $1 million dollars.

See the Debt Clock here:

US Debt Clock

Our present banking system was conceived in fraud and deceit by our modern money changers and corrupt politicians. Over 200 years ago James Madison wrote, "History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain control over governments by controlling the money and its issuance."

When our Lord saw the money changers in the temple, He drove them out with the force of a whip – on at least THREE separate occasions. Jesus knew how evil the money changers were, and He knew what He had to do about them – and He did it.

The only congressman or presidential candidate (from either major party) in modern memory who consistently spoke out against the money changers was Congressman Ron Paul (R-TX). For decades he tried to convince the American people that it was essential to our national survival that they demand that their congressmen and senators end the Fed. Very few paid him any heed, and now I doubt that there is any remedy.

Evangelical Christians, pastors, "conservatives," and many people in the "Tea Party" movement consistently support puppet candidates who are beholden to the money changers. They may express concern about our national debt and unconstitutional financial systems, but they are not calling for the Fed to be abolished. Neither are they willing to rein in the out-of-control federal spending inside the Beltway. And for all of his rhetoric, a Trump presidency has not made any difference. The Republican-controlled Congress is yet again about to raise the debt ceiling to another record level – and Donald Trump has already said he would sign the bill into law, thus continuing the pattern of reckless, out-of-control, unconstitutional deficit spending of his predecessors – from both parties.

In fact, President Trump is the one pushing Congress to attach another unpopular bill raising the debt ceiling to a popular bill such as a Hurricane Harvey relief bill or a veteran's benefits bill in order to make it difficult for congressmen and senators to oppose it. According to Congressman Mark Meadows (R-NC), Trump wants to raise the debt ceiling by $2.5 trillion.

America is facing a dangerous tipping point. In reality, our federal government is bankrupt. The only things keeping America's economy afloat are a government living on borrowed "money" (which cannot last forever), the Federal Reserve's printing presses that create "money" out of thin air (which also cannot continue indefinitely), and the fact that the U.S. dollar is the world's reserve currency. Plus, several states such as Illinois, Maryland, Kentucky, Massachusetts, and New Jersey are virtually bankrupt, and 31 states will end fiscal 2017 millions or billions of dollars in debt (Connecticut, Delaware, Maryland, Massachusetts, New York, Pennsylvania, Rhode Island, Vermont, Alabama, Louisiana, Virginia, West Virginia, Illinois, Indiana, Iowa, Kansas, Missouri, Montana, Wisconsin, Alaska, Colorado, Nebraska, New Mexico, North Dakota, South Dakota, Texas, Mississippi, Oklahoma, Oregon, Washington, and Wyoming).

See the report here:

Thirty-One States Face Revenue Shortfalls For The 2017 Fiscal Year

As Margaret Thatcher famously said, "Socialist governments . . . always run out of other people's money."

In response to these developments, several states are asserting their State sovereignty by adopting sound money legislation to declare gold and silver as legal tender. The U.S. Constitution says that "no State shall . . . coin Money; emit Bills of Credit; [or] make any Thing but gold and silver Coin a Tender in Payment of Debts" (Art. 1. Sec. 10.). The wording here is clear. As George Washington said, "Paper money has had the effect in your State that it ever will have, to ruin commerce – oppress the honest, and open a door to every species of fraud and injustice."

Utah became the first State to fully adopt sound money legislation, and others discussing adopting this kind of legislation include Minnesota, Iowa, Colorado, Georgia, Virginia, Tennessee, South Carolina, Montana, Missouri, Indiana, Idaho, New Hampshire, Texas, Arizona, Wyoming, Oklahoma, Kansas, Louisiana, North Carolina, Vermont and Washington. In addition to supporting these bills, we also need to support The Free Competition in Currency Act once introduced by Ron Paul to repeal legal tender laws and remove taxation on gold and silver. A similar bill was once introduced in the Senate by Senators Rand Paul, James DeMint, and Mike Lee.

Sir Thomas Gresham's Law says that bad money drives out good money. Because we have allowed the Federal Reserve System to unconstitutionally act as the fiscal agent for the U.S. government, we are experiencing the ruinous effects of Gresham's Law. Concerned investors and foreign nations are dumping U.S. currency and assets and investing in gold and silver. China is buying gold like there is no tomorrow. What do they know that we need to know?

After talking with Ron Paul some time ago, I converted my personal IRA into a precious metals-backed IRA. And the company I use is Treasure Island Coins. This is one of the finest precious metals companies in the country. They have been in business since 1976 with a solid reputation and track record, offering the option of easy online ordering as well as the safe, secure storage of metals if needed.

I am, therefore, proud to partner with my friends at Treasure Island Coins and recommend them to my readers. I know these fellows personally. They are fine Christian patriots who truly understand what's going on and have a heart to help their fellow Americans affordably obtain precious metals. If you are like me, you, too, are looking for a reliable and honest source for acquiring gold and silver and maybe even a place to fund your retirement accounts into precious metals.

Whether you are looking to convert your traditional IRA to a precious metals-backed IRA (as I did) or are simply wanting to purchase gold and silver coins, I urge you to consider Treasure Island Coins. My friend of many years, David Hart, is the National Sales Director. He is extremely friendly, helpful, and trustworthy.

I promise you that Dave will not try and pressure you into doing anything you don't want to do. He will simply answer your questions, help you determine whether adding precious metals to your financial portfolio is something you want to do, and will completely guide you through the process if you decide to proceed. Believe me, Dave will take the anxiety out of transferring your IRA or purchasing as few or as many gold and silver coins as you choose. I urge you to contact Dave and see whether investing in precious metals is right for you.

Here is the link:

Treasure Island Coins

As noted at the beginning of this column, Thomas Jefferson warned us that banking institutions are more dangerous than standing armies. This reality holds true to this day – and probably even more so. America is facing a financial day of reckoning: of that there is NO DOUBT.

Furthermore, America has NOT fully recovered from the Great Recession of 2008 and 2009. Plus, everyone knows that the current stock market is in another bubble that will burst at any time. And Donald Trump has taken us to the precipice of global nuclear war. The Department of Defense (DOD) is urging its employees to stock up on gas masks and iodine pills (I have seen the documents). Power companies around the country are already scurrying to figure out what they will do in the event of an EMP (Electromagnetic Pulse). Hurricanes are buffeting the Gulf Coast, and fires are raging throughout the West. God's patience with America might be running out.

One thing is undeniable: gold and silver have formed the world's economic baseline for virtually all of mankind's existence. And this is also a fact: there is no better time – or even a more necessary time – to invest in gold and silver than RIGHT NOW.

Again, to learn more about my decision to invest in precious metals and to partner with Treasure Island Coins, go here:

Treasure Island Coins

© Chuck Baldwin

 

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