Monetary Crisis a Threat to Liberty, Lawyer Warns

By:  Jack Kenny
09/19/2011
       
Monetary Crisis a Threat to Liberty, Lawyer Warns

The fiscal and monetary crisis confronting America today is more than an economic problem, it is a threat to our liberties and the nation's sovereignty, constitutional lawyer Edwin Vieira said at a Constitution Day celebration in Portsmouth, N.H. on Sunday. Unless a sound currency is established, the coming economic collapse will result in America "falling victim to a domestic totalitarian police state with the loss of American sovereignty and independence and lead to some sort of regional or global system, i.e. a new world order," he said. 

Citing Italy and Germany in the 1920s and 1930s as examples, Vieira warned of the hyperinflation that occurs when a government dramatically increases its printing of dollars to cover its mounting debts. No form of government has ever survived a national debt that equal to more than 41 percent of its annual budget, he said, adding that in the United States today, it is 44 percent. "Our country is set up to fail," he said, as jobs and technology are shipped overseas, artificial "bubbles" are created in the domestic economy and banks and large-scale investors turn to the federal government for relief.

The fiscal and monetary crisis confronting America today is more than an economic problem, it is a threat to our liberties and the nation's sovereignty, constitutional lawyer Edwin Vieira said at a Constitution Day celebration in Portsmouth, N.H. on Sunday. Unless a sound currency is established, the coming economic collapse will result in America "falling victim to a domestic totalitarian police state with the loss of American sovereignty and independence and lead to some sort of regional or global system, i.e. a new world order," he said. 

Citing Italy and Germany in the 1920s and 1930s as examples, Vieira warned of the hyperinflation that occurs when a government dramatically increases its printing of dollars to cover its mounting debts. No form of government has ever survived a national debt that equal to more than 41 percent of its annual budget, he said, adding that in the United States today, it is 44 percent. "Our country is set up to fail," he said, as jobs and technology are shipped overseas, artificial "bubbles" are created in the domestic economy and banks and large-scale investors turn to the federal government for relief.

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Illustration: Alexander Hamilton, signer of the Constitution, Federalist co-author, and first U.S. Secretary of the Treasury

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