You Say “Sovereign,” I Say “Maybe Not”

07-02-10

THE WEEKLY INFORMATION RESOURCE FOR VETERANS AND ALL PATRIOTIC AMERICANS

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(continued from page 14) German pharmaceutical company, access to international trade must exist. If citizens drive a foreign-made car, they need parts available. If the State wants to provide access to coffee and bananas for citizens, it will have to comply with the international trade laws of Brazil. When a State declares sovereignty, international (as well as interstate) commerce laws become important. Many questions arise. How will highway systems be maintained? Who pays for public schools and police protection – and which currency is used to pay for State government? The solutions to State Sovereignty: Currency, monetary policy (coordinated with other states) and a State Bank that provides a distribution system for both. A State structure supporting America’s Constitutional Rule of Law and the Bill of Rights must be in place. State Constitutions generally fulfill that requirement, but may need to be more legislatively clear. Why? After the Federal Reserve System and Wall Street cause economic collapse, the states will be able to reorganize around the Constitution and the Bill of Rights, as written by our founders, and do so quickly to once again become the United States of America. Can a State declare itself sovereign if it does not have sufficient power to determine its own currency and monetary policy? That is the key question to the core problem. State Banks give credible stability to State Governments and their business sectors. They provide a distribution source to those states with the lawful authority to create their own currency. This one concept makes possible a logical alternative to the failing federal monetary distribution system – the failed fiat currency and the failed fractional-reserve means of creating currency that results in perpetual debt. Numerous projects must (and can) be quickly coordinated among sovereign states if interstate commerce is to continue. States must plan ahead and work together to create a workable system. Compatible computer systems able to exchange information so proper check clearing can
	occur are needed. How does a company in a Sovereign State pay for goods purchased in another State that has not declared sovereignty and still uses the U.S. dollar? State Banks must be able to pay and accept the federal government’s currency via the same settlement process used all over the world. There is one flashing red light regarding State Banks. It can be solved by how the State Bank Charter is written. Unless constraints are firmly in place, there is little doubt power abuse will occur. Money draws crooks like honey draws bees. While the above information focuses on the positive aspects of implementing a State Bank, legislators need to be aware that unless prohibited from doing so, a State Bank can become a tool used to redistribute wealth – just as the current system is used nationally. Each State Bank Charter must contain prohibitions against the politicization of State Bank funds and investments, or all that will result is a State Bank that does the same economic harm currently done by the Federal Reserve System. How does your State fund a State-owned bank? Have your State legislators check the amount of U.S. dollars available in existing	State Comprehensive Annual Financial Reports (CAFRs). Most states have billions of CAFR dollars that cannot, by law, be used to pay down State debt but can be used to invest in a State Bank on behalf of citizens. This is a great (and critically needed) project for State Tea Party groups. You really could save your State from an economic apocalypse if you get this job done in time. © 2010 Marilyn M. Barnewall - All Rights Reserved Marilyn MacGruder Barnewall began her career in 1956 as a journalist with the Wyoming Eagle in Cheyenne. During her 20 years (plus) as a banker and bank consultant, she wrote extensively for The American Banker, Bank Marketing Magazine, Trust Marketing Magazine, and other major industry publications. The American Bankers Association published Barnewall’s Profitable Private Banking, the first book written about private banks, in 1987. She taught private banking at Colorado University for the American Bankers Association and trained private bankers in Singapore in 1991. She has authored seven banking books, one dog book, and one work of fiction (about banking, of course). She has served on numerous Boards in her community.