A Proposed
​​Asset Based Receipt Monetary System
​to Save Our Country and World from Economic Collapse and Take Us All into Prosperity
 
Harmony

  Integrity

​       and

​​           Prosperity for All
Congress shall:

​1. Declare the Federal Reserve Act of 1913 a fraud on the American people and repeal the Federal Reserve Act thus eliminating the national debt. In it's place, Congress shall set up a United States Bank as a non-profit corporation 100% owned by the people of the United States with its officers elected by the people with branches in each state with the branch officers elected by the people of that state. Private bankers have proven their inability to do what is good for the people by bankrupting our whole nation with their debt-based monetary Ponzi scheme where the interest money is never created causing our country to enter into a death spiral of unpayable debt. The United States Constitution prohibits the states from issuing "bills of credit," which is a debt-based currency. It does provide for an asset based monetary system, one in which gold and silver coin are used. And provides that Congress should regulate the value of our money.

​2. Set a date, such as April 15th for the recall of all Federal Reserve Notes replacing them with new "United States Currency" that is not debt based, but instead asset based, with its value derived from the gross national product, based on all the products and services produced by the people. All debt in the United States will be paid off with the new United States Currency except credit card debt which will be cancelled. This will not create inflation because the new money will replace the old money, dollar for dollar. Interest on the debt will not be paid because no money was ever created to cover the interest in the old Federal Reserve monetary system.

​3. Declare all fractional reserve banking to be illegal, including the creation of credit card debt, and short selling on the stock market, which were methods the banks used in the Federal Reserve monetary system to create new money. Only the United States Bank will be authorized to create new money, and all new money initially will go to pay off all non-credit card debt and thereafter to the taxpayers as receipts for voluntary income taxes paid.

​4. Revise the Internal Revenue Code to a simple voluntary 10% income tax paid on the gross income of salaried workers and the net income of businesses and investments to the United States Bank for the operation of the government, national, state and local and to provide grants to businesses, new home owners, the building of infrastructure, and to students to pay for their education. This income to the United States government paid to the United States Bank shall be shared with the States, Counties, Towns and Cities based on their population counts and to take care of all government expense for the whole nation, allowing all other taxes be eliminated, except a tariff tax as provided in No. 5 below. The United States Bank will issue receipts for income taxes paid to the tax payers in the same amount as taxes paid in the form of NEW money issued to each tax payer at the tax payer's election of: electronic money, United States paper currency, gold, silver, or copper coin stamped by the United States mint with a face value greater than the intrinsic value of the gold, silver or copper coins so as to encourage they to be spent into circulation. The NEW money given to taxpayers as receipts for taxes paid, will increase the income of tax payers in the amount of 2.36 times in every period of ten years. This will not cause inflation because the money supply will increase at the exact same rate that products and services increase. Since all money will issue from the United States Bank, in order not to create inflation, it must also circulate back to the United States Bank as a voluntary income tax for the operation of the government, national, state and local and to provide grants to businesses, new home owners, the building of infrastructure, and to students to pay for their education. With the simplification and incentive for paying the voluntary income tax, the Internal Revenue Service shall be eliminated since there will be no need to enforce collection of a voluntarily paid incentive based income tax. Money should be used to benefit the people, who give our money supply its value. All wealth originates from the people, so they should be the benefactors of all new money created. All money will have a serial number and bar code associated with it and registered with it's owner in the United States Bank to prevent counterfeiting. Anyone accepting the new United States currency is encouraged to verify with the United States Bank over the Internet that the money belongs to the person presenting it for any purchase. When the money is transferred by its owner to another owner, it's serial number and bar code will transfer with the money to the new owner.

​5. Institute a tariff tax on all imported products and services to encourage growth of businesses in the United States and thus assist in achieving optimum employment of our workforce. This tariff will raise the cost of imports greater than those same products and services produced within the United States. All other taxes will be eliminated.

​6. Repeal the 17th Amendment to the Constitution. The founders intended that Senators be elected by the State Legislatures thus giving the States representation in Congress. The States have no representation in Congress since the passage of the 17th Amendment. To give the States representation in Congress, the 17th Amendment needs to be repealed.

​7. Invite all nations of the world to participate in the Asset Based Receipt Monetary System by offering to pay off all non-credit card debts in their country on these conditions:

​    a. Their country will accept a United States Bank in their country owned by their residents and with it's officers elected by their people.

    ​b. A date will be set to recall their national currency and replace it with United States Currency and pay off all debt except credit card debt, which will just be cancelled.

    ​c. All fractional reserve banking in their country will be declared illegal, including the creation of credit card debt, as well as short selling on the stock market. Only the United States Bank will be authorized to create new money, and all new money will go to the taxpayers as receipts for voluntary income taxes paid.

    ​d. Their citizens will agree to pay the United States Bank in their country a voluntary 10% income tax paid on the gross income of salaried workers and on the net income of businesses and investments which will fund their national, state and local governments. For the voluntary income tax paid, the United States Bank in their country will issue receipts to the taxpayer in the same amount as taxes paid as NEW money in the form of electronic money, United States paper currency, gold coin, silver coin or copper coin at the election of the taxpayer, minted by the United States mint with a face value greater than the intrinsic value of the coins thus minted so as to encourage their use to be spent into circulation.

​    e. Congress will invite that country that has accepted this Asset Based Receipt Monetary System to join the Union so that their people can have representation in Congress. Upon joining the Union, all tariffs between their country and the United States will be dropped. All other taxes in their country will be eliminated.

​8. Remove the United States from the United Nations and order the United Nations be removed from the United States. The United Nations was instituted by the private bankers to force their economic system of scarcity upon the world with all benefits of their debt-based monetary system accruing to the rich at the expense of the people. As this Asset Based Receipt Monetary System brings prosperity again to our country, states, towns and cities, the people will be able to influence our national government to return once again to our constitutional basis of freedom and rule of law with integrity, honesty, and abundance, rather than the banker debt-based monetary system that encourages strife, dishonesty and graft, with all benefits of money creation accruing to the privileged banker class at the expense of the people. As Congress adopts this Asset Based Receipt Monetary System, our government will be relieved of it's crippling debt to the private bankers and their schemes for monopolizing all power, wealth and property into their own hands at the expense, the blood, the health and poverty of the people. Congress can then remove the United States from the banker created United Nations and remove the United Nations from the United States, and in it's place offer the Asset Based Receipt Monetary System to the whole world to bring peace, prosperity and a one world to all.

​9. Recall all our troops home from around the world to defend our country. The private bankers used their debt-based monetary system to fund both sides of every war so that they could determine the outcome to their advantage. The only constitutional use of our military forces is to defend our homeland, not the private banker's empire around the world. With this Asset Based Receipt Monetary System, peace and prosperity will expand to the whole world so that our troops can be brought home and our country and industry can concentrate not on war, but on developing beneficial technologies that promote the general welfare of all peoples.

​10. Cease from all un-constitutional activities that our federal government is involved in here and abroad, which un-constitutional activities are the result of the private banker monopoly on the creation of money and the control that monopoly exerts over our government and the people. With the Asset Based Receipt Monetary System, our government can be brought back in line with the wishes of the people as provided for in our inspired constitution. Our representatives will then truly represent the wishes of the people rather than just the wishes of private bankers. Prosperity, freedom and the rule of law will return to our land and world eliminating wars, cartels, mafias, drug running, illegal immigration and oppressive tyranny. Corporations and businesses will again return to treating their customers as king and act responsibly in the use of national and world resources instead of polluting the planet, killing people with weapons, poisoning our foods, genetically modifying death promoting seeds for our crops, and other poisonous and harmful health practices, including the weaponization of the world and space. The people of the world will return to becoming a peaceful people, with healthy, long and prosperous lives. Population reduction will no longer be a goal because with an economic system based on plenty with prosperity for everyone, there is plenty of room for everyone on this planet and into our future peaceful expansion into space.
Common Law Copyright
All rights reserved
by
Rodney M. Cluff
Click on the link below for a proposed Asset Based Receipt Monetary System amendment to the United States Constitution in PDF format.

Please submit a copy of the Asset Based Receipt Monetary System to your congressman and legislator to save our country and world from the coming bankruptcy of the banker debt-based monetary system.