Biblical Law and Government

Lesson Nine - Page 18

JACK METCALF

HONEST MONEY FOR AMERICA

EXCERPTS FROM SPEECH BY NATIONAL CHAIRMAN, SENATOR JACK METCALF Debt Money Awareness Week Kickoff/Money Exchange February 12, 1984

It is possible to:

Eliminate $130 billion from the national debt

Reduce interest payments on the national debt by over $10 billion a year

Slow the growth of the national debt and deficit:

This may sound like a fairy tale in this era of ever increasing budgets and deficits and a $1.5 trillion national debt - but Congress could do all of the above quickly and easily by simply calling in all the Federal Reserve Notes now in circulation and issue, instead, United States Treasury currency on which no interest would be charged. In other words, our currency would be issued the same way our coins are issued. The next very essential step would be to use the called in Federal Reserve Notes to buy back the bonds that created them, thus extinguishing both the bonds and the FRNS. By this action, we would reduce the national debt by $130 billion and reduce interest payments by over $10 billion a year. This simple plan could become the basic start toward having a debt free money system in our nation. There are other steps necessary to achieve the Honest Money system envisioned by our forefathers, but these 3 steps are simple and could be accomplished quickly.

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Ten Commandments Bible Law Course Sovereignty Education and Defense Ministry (SEDM), http://sedm.org