The Death Of The Dollar 2 of 6

January 10, 2015

The Death Of The Dollar 2 of 6

First Thessalonians 5:3 says: “For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape.”

Could 2015 be the year that we see The Death Of The Dollar? Watch this second part of a six-part series. But before it’s done, start buying one-ounce silver coins and any size gold coins you can afford.


Taxation in FRONA

November 26, 2012

By Russell D. Longcore
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The first thing you must do when considering taxation in The Free Republic of North America (FRONA) is throw out everything you ever thought you knew about taxation. But even before that, you must throw out everything you ever thought you knew about money.

The money of The Free Republic of North America is the Frona. There will be the gold Frona, the silver Frona and the copper Frona. Gold Fronas will likely be used for larger transactions. Silver and copper Fronas will be used as the day-to-day coinage of the nation. Pure gold and silver coinage from other nations would also be acceptable forms of money since they are denominated in fineness and weight. So for example, America Eagles, Austrian Philharmonics, South African Krugerrands, Australian Kookaburras, and Canadian Maple Leafs would all be seen regularly in FRONA transactions.

FRONA money is silver, gold and copper. It is not BACKED by precious metals. That defines a “Currency.” Currency is NOT MONEY. Precious metals ARE money when they are minted as money. But precious metals NOT minted as money can be used as money. If I have a one ounce gold chain of 18K fineness, any merchant could accept that as payment in a commercial transaction because the weight and fineness are known. If I have a one pound gold bar of .999% fineness, it spends just like 16 one ounce coins. Get it?

The next thing that you must do is to stop thinking of gold and silver coins in terms of their value against other currencies, such as the Dollar. Coinage is a function of weight, not price. Yes, there would have to be some exchange rate to convert other currencies to Fronas. But the free market would determine this floating exchange rate, not the FRONA government. US Dollars or Euros might not have a Frona exchange rate at any price after TSHTF. But I’ll bet that the Chinese Renminbi or the Brazilian Real will be just fine. The FRONA national Charter, in its clause about money, would require any minted coin to display its purity and weight, but no value. For those international coins that displayed a value, such as “One Dollar” or Twenty Dollars,” those words would have no meaning in FRONA. And the law would proscribe the penalty of death for anyone minting fraudulent coins or altering coins (clipping or shaving).

In FRONA, goods and services will be priced in WEIGHT, not dollars and cents. A pound of steak might be priced at 0.25 ounce of silver. A gallon of gasoline might be priced at 0.10 ounce of silver. And copper Fronas are there to facilitate the smallest physical transaction, down to the penny. But when using a debit card for transactions, amounts could be priced down to the hundredth or thousandth of an ounce.

There will be no national money and no national currency. This prevents FRONA from debasing the money and stealing from the citizens. The free market will decide what the medium of exchange is. Common sense suggests that gold, silver and copper coins will become money, and likely silver and copper coinage will be the most widely accepted medium of exchange for day-to-day transactions. (Actually, in the technological age in which we live, the digital transaction will likely be the most utilized medium of exchange. Most people will do daily business with debit cards.) The FRONA constitution will prohibit itself from enacting legal tender laws. If the FRONA Treasury wants to issue gold and silver coins it may do so, but enjoys no monopoly or control. It would have to compete in the free market like all other minting operations.

In FRONA, The Treasury Department collects funds in silver, gold and copper, not any other currency from any other nation of the world.

As an aside: The US Federal government has come up with poverty statistics over the years. And in 2012, DC considers you “in poverty” if your family of four earns $23,050 or less per year. Of course, you can own a house, a car, a refrigerator, a washer/dryer set, multiple TVs, multiple cell phones and a nice wardrobe. (Compare that to the per capita income in India of $1,219.00. Is there really poverty in America?) But in FRONA, all of that poverty statistical bullshit is swept away. The US Department of Agriculture determined that a family of three or more persons spent one-third of their after-tax income on food. But in FRONA, there is no Income tax, Social Security or Medicare deductions from a wage earner’s paycheck. So instantly, every FRONA wage earner gets a boost in take-home pay to 100%. And remember…the wage earner is getting paid in weight, not dollars.

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As long as I am fantasizing about The Free Republic of North America, I want FRONA to be the identical boundaries of the State of Texas. After all, Texas is the US state with the most advanced secessionist movement, the Texas Nationalist Movement. And Texas is the state with the best chance of actually seceding and making nationhood work.

I pulled some demographic statistics from various sources for this article.

From the US Census:

-Median household income in TX 2010 – $50,049
-Households: 8.540 million, persons/hshld 2.78
-Per capita income 2010 TX $39,493 (rounding up to $39,500)
-TX population 2011 25,674,681

From the Bureau of Labor Statistics:
-TX Civilian Labor Force 9-12 12,632,000
-Unemployment rate: 6.8%

From Texas state website:
-TX state budget 2012 $80.6 Billion

So based upon those stats, I have made some rudimentary calculations. Remember that these are in Dollars, not ounces of money:

I am going out on a limb here and attributing the FRONA national saving rate at 10%. That means that everybody living in FRONA saves 10% of their income. Easy to do when you get paid 100% of what you earn.

-Per capita income $39,500 x 25.6M people = $101,120,000,000 ($101.12B)
-Per capita income $101.12 Billion x 10% = $10.112 B going into savings

Let’s say that 90% of per capita income was available to be spent. That is $35,550. Let’s say that on average, people do 75% of their transactions with merchants, which could generate a 10% sales tax. That is $26,663 x 10% = $2,666 per year in total taxation. $2,666 x 25.6m people = $68.250B.

This calculation does not include any tax revenue from transactions made by FRONA businesses. That could easily double the amount of sales tax revenue flowing into the national Treasury. These calculations also do not include tax revenue from non-citizens making purchases while in FRONA. More money for the Treasury. I can easily envision sales tax revenues in FRONA of $120-$150 Billion in FRONA’s first year in existence.

And the budget for the State of Texas for 2012 was about $80 Billion.

FRONA has only one source of revenue…a national sales tax of 10%. No property tax, excise tax, duties, tariffs, ad valorem tax, estate tax, corporate tax, income tax…NOTHING but the sales tax. In FRONA, the national sales tax pays for ALL government, even funding the governance needed down to the county and city level. There is NO OTHER SOURCE OF TAX REVENUE…PERIOD.

What happens to any surplus? Under the Charter I have written for FRONA, the government would declare a dividend and pay it back to the citizen/shareholders. Try to wrap your mind around THAT.

Now THAT’S the way a nation should work!

Secession is the only solution for individual liberty and property rights in North America.

Dump DC: Six Letters That Can Change History.

Copyright 2012: Russell D. Longcore. Permission to reprint in whole or in part is gladly granted, provided full credit is given.