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Quatloos! > HYIPs and Bank Debentures > NESARA

NESARA Scam

NESARA is an acronym for the National Economic Stabilization and Recovery Act, which is a legislative proposal that merely reintroduces specie as alternative currencies to help combat anti-inflationary policies of the paper currency. The NESARA proposal is sponsored by the “NESARA Institute”, having offices at 7635 Jefferson Highway, No. 354, Baton Rouge, Louisiana 70809 (Ph: 864-886-0657). Although the NESARA proposal has been presented to many Congresspersons over the years, and some have expressed interest in the proposal, it hasn't yet built up sufficient support for even introduction to Committee, much less to a full vote by Congress. Maybe someday the NESARA proposal will find support in Congress and may be presented for a vote, but that really isn't the point of this webpage. (You can read all about NESARA at www.nesara.org). The point of this webpage is that when certain scam artists claim that NESARA has been "enacted into law" by "secret Acts of Congress" they are telling a great big lie and total fabrication because NESARA has never even been formally made into a Bill or presented for either a Committee vote or a full vote or Congress

Scam artists often latch on to something that sounds good to relieve suckers of money. For example, scam artists will often set up boiler-room phone solicitations to seek charitable donations for firemen or policemen, which the scam artists then pocket without actually giving any money to firemen or policemen. The making of charitable donations to firemen and policemen is a good thing, but the scam artists simply divert the donations to their own pockets.

The NESARA proposal is currently being used in just this sort of a scam. Some of the same people who helped keep alive the myth that Omega Trust & Trading would eventually pay out millions of dollars for every $100 sent to “trader” Clyde Hood (now convicted and serving a lengthy prison sentence), are now saying that Omega Trust & Trading and the other “original Prosperity Programs” will still pay out their millions/ billions/ trillions/ quadrillions of dollars when (not if) the “true NESARA law” is finally announced.

The scam artists pitching the NESARA scam claim that the “True NESARA Law” was already adopted by Congress in 2001, but that Congress has been keeping it a secret all this time (like anybody in Washington D.C. can really keep a secret about anything), and that soon the “True NESARA Law” will be announced. According to these scam artists, the “True NESARA Law” does the following:

  • All of the “Prosperity Programs” (failed HYIP and bank debenture scams) will fund, giving zillions of dollars to those smart enough to have invested in them and believed in them even after their promoters were convicted of fraud and went to prison.

  • Because the funding of the “Prosperity Programs” will swamp the Earth with wealth, nobody in any country will ever have to pay taxes again, which is nice.

  • Because the banks will have more money than they will know what to do with (because of deposits from those smart enough to invest in the “Prosperity Programs”), there will be “Debt Forgiveness” of all debts, i.e., home mortgage payments, car payments, credit card payments, whatever, which is also nice.

The scam artists have set up several websites “updating” NESARA and pitching the coming debt forgiveness and new money system. These websites make some of the wildest, bizarre, and downright gut-busting statements as to why the “True NESARA Law” has not yet been announced. For instance, at http://www.2012.com.au/ NESARA_Update.html the scammers claim that on September 11, 2001,

" at 10 a.m. Eastern Daylight Time, Alan Greenspan, was scheduled to announce the new Treasury Bank system, DEBT FORGIVENESS for all U.S. citizens, and abolishment of the IRS as the first part of the public announcements of NESARA.

Instead, at just before and after 9 a.m. EDT, planes attacked the World Trade Center. The attack on the WTC served to stop the announcement of NESARA because a crucial banking computer center on the first and second floors of the WTC was prevented from carrying out a computer system download to U.S. banks which was scheduled to begin at 9 A.M. EDT."

This same website similarly claims that:

“For the last month in Orange County California, citizens have been receiving letters enabling them to have ALL their credit card debts forgiven and their mortgage debt taken off their shoulders. If their mortgage was taken out before 1997, it is totally "forgiven" and the DEED to the property will be mailed out to the owner. If the mortgage was taken out during 1997 or later, the mortgage bank is required to turn it into a "self-liquidating loan" which the BANKS are required to pay off on behalf of the citizens. Some lucky people in Orange County are receiving these benefits of NESARA which EVERY citizen in the United States is SUPPOSED to have ALREADY RECEIVED!”

Hmmm. So everybody in Orange County, California (about 4 million people) had all their debts forgiven but the rest of the nation didn’t hear about it? Wow, the power of the government to suppress information cannot be underestimated! For that matter, we here at Quatloos! are all in Orange County, but our debts weren’t forgiven. Hmmm.

But if you think all of that is strange, you haven’t heard anything yet. The primary scam artist goes by the name of "Dove of Oneness" or usually just “Dove” hosts a website called “The Four Winds” at http://www.fourwinds10.com that spews a bunch of New Age hooey, such as “Lord Ari’s Galactic Tales”. Additionally, Dove has an “update line” that you can call at: (206) 781-3897 to hear the latest updates on the “True NESARA Law”. These updates, which are archived both on Dove’s website and ours (for posterity, of course) offer totally bizarre news events, such as that “100,000 Bankers who would not accept the True NESARA Law have been eliminated” and that the spaceships of the Galacticans are regularly seen visiting Washington D.C.

For those of you in law enforcement, Dove has listed her address for purposes of sending “donations” as:

Dove
3430 Pacific Ave. SE
Suite A6, Box 217
Olympia, Washington 98501

which apparently, in a course consistent with more sane scam artists, is simply a drop-box. Dove has conspired with a bunch of other scam artists/nuts

But others much less intelligent have allowed themselves to be drawn into this scam, as have some who have been mentioned as “White Knights” (whom the scammers claim are persons that protect the “True NESARA Law” and fight for it’s announcement) who probably aren’t even aware of NESARA. The nut category includes Sheldan Nidle, who gives updates from the Planetary Activation Organization, http://www.paoweb.com, and writer David Icke, http://www.davidicke.com, who claims that most important politicians and leaders are actually shape-shifting lizards from outer space, see http://www.davidicke.com/ icke/ temp/ reptconn.html.

But as amazingly stupid as all this stuff is, it is still nothing more-or-less than a scam, and one that is at times simple to discern and at other times more complex.

The easy part of the scam is little more than a common “donations” scam. Dove and several of these nuts openly solicit “donations”, ostensibly to keep their phone lines on, etc. When they need more money, they will spin a bogus tale of somebody needed medical treatment or an operation, or about somebody’s house about to foreclosed, and invite their listeners to send them money. Then, they simply pocket the cash.

The most active of these scammers is Jennifer Lee who, again for our friends in law enforcement, lists her address for purposes of sending “donations” as:

8726 South Sepulveda, Apt. B-13
Los Angeles, California, 90045

Jennifer operates her own “update line” at (310) 842-5902, and daily (and sometimes three or four times per day) generates several minutes of airhead stream-of-consciousness, usually summarizing Dove’s updates or reciting the babble of several other scam artists who have come on board. These scam artists have amusing names, such as “A and A”, the “King of Swords”, and our personal favorite, “The Nameless Ones”.

Usually, towards the end of her message, Jennifer will spin a sob story about not being able to pay the rent, or pay her phone bill, or pay her electricity bill, or whatever else comes to mind, and about once a week she asks for money to “help” somebody else out. The Galacticans must sure be cheap if they themselves can’t help ‘ol Jennifer out with the phone bill!

From this relatively simple scam comes the more complex stuff. Dove and other scam artists will from time-to-time either offer themselves or direct their listeners to their shills who continue to sell units in one or another of the “Prosperity Programs”. Believe-it-or-not, people actually send money to these idiots to buy units in programs that have proven to be totally fraudulent, and where the original promoters (such as Omega’s Clyde Hood) are serving long prison terms. Ah, the stupid and their money shall soon be parted . . .

Some of Dove’s function is just to keep the scam victims quiet and thinking that eventually they will receive their money. Before Clyde and the other Omega fraudsters were indicted, Dove was strident in remarks aimed at keeping the sheep in line for sheering. Although we’re not sure, Dove’s voice seems eerily familiar to that of “Mumbles”, who ran a scam called Destiny that was supposed to “fund” at the same time as Omega. People actually sent “Mumbles” $100 bills wrapped in aluminum, without getting receipts, and then listened to bizarre messages predicting imminent funding on a voice machine traced to Texas. Again, the stupid and their money are soon parted . . .

This scam also has, in addition to the weird New Age aspects, an extremist left-wing bent. Hardly a week goes by that Dove doesn’t call for or predict the arrest of Bush, Cheney, et al., and at times Dove’s messages have seemed to be an open invitation for some nut to take unilateral action and attempt to assassinate them so that the “Prosperity Programs” can finally fund.

More information on other these and other looney-tunes is on our Omega Chronicles page, at http://www.quatloos.com/ cm-omega/ omega-chronicals.htm

One of our Quatloos! readers recently sent an e-mail to Dove crony “Patrick Bellringer” and received the following reply:

I am a newcomer to Nesara and I am very happy to know that it may soon become a reality. However, as I have read many of the articles and thought about many aspects of the law and its implementation, I have a few questions. Perhaps you can answer some of them.

1. Since this is apparently so secret, how is it that you seems to have so much access to what is going on?

1) KOS (King of Swords) The White Knight in charge of all White Knights communicates truth to select individuals for release to the public. A few other "insiders" are doing the same.

2. If higher souls and masters, such as St. Germain and Sananda are helping run things, why push for it to perhaps be announced before things are ready?

2) Admiral Sananda, who is in charge of Earth Shan's transition, gave the order weeks ago to the White Knights to announce NESARA. Things are ready!

3. I do find it difficult to believe that so many people could keep this thing a secret. Washington is particularly not noted for keeping secrets.

3) Secrecy under threat of death. Some have broken their silence and are now deaded!

4. I am in retailing and when I look at the people I deal with every day, when I think of Nesara being passed, I see chaos and confusion. When people are told that their dollars have decreased in number( but not value), that prices are being cut and they no longer will have taxes withheld,they are going to have more to deal with than many of them are capable of handling. Add to that that the administration and congress will resign and I can see riots and paranoia being rampant.

4) When prices and salaries are reduced by the same ratio--buying power remains the same. People are not ignorant. They will be relieved to have no debt, no income tax, and no evil government. Where are you at? Things will move forward in an orderly fashion. We White Knights are not stupid!

5. Dove talks about these prosperity programs. Was one of them the Omega Trust? I came across a reference to it somewhere and there was a person named Dove apparently involved in that. Where can I find more info on these programs?

5) Why do you want to know about Omega? It is closed to new people and held confidential. You will have your opportunity to participate in a prosperity program---later.

6. I love many of the ideas that Nesara puts forth, but one of the things I keep hearing in many of the articles is When do I get MY money? It seems that many of the current have-nots want to become "haves". If this is the motivation, I predict disaster for the whole thing.

6) People are anxious to get their funds to get on with their lives and their humanitarian projects. I have waited ten years, and I am angry. Those with greed will get nothing.

7. I e-mailed one of the national radio websites about Nesara and they said they had not found any documentation that it was real. The 10 ways Dove lists to prove that Nesara is real (http://www.fourwinds10.com/ NESARA/ history/ dove101702.html) are a joke as far as I'm concerned. How many people do you know that are bank presidents or member of the German legislature?

7) If you think that Dove's list of 10 ways to prove NESARA is a joke---then I consider you to be most ignorant and quite lazy. With that attitude you deserve no part of NESARA. It is obvious that you have had no part in it, thus far.

As funny as all this is, what is even funnier is that Dove and Jennifer constantly imploring their listeners to send postcards to the U.S. Supreme Court demanding announcement of the “True NESARA Law”, and to write “NESARA Now!” when you send in your utility bills, postcards for magazine subscriptions, etc. We can only image the poor mail room clerk at Pacific Bell getting a bunch of phone bills with “NESARA Now!” written on them and wondering just what in the hell NESARA is . . .

The extreme left-wing agenda of Dove seems strangely similar to that of the "Communist Party USA" found at http://www.cpusa.org/ It will be recalled that "debt forgiveness" was a common theme of both Lenin's and Castro's communist takeovers. It certainly wouldn't surprise us if later Dove is found to be fronting for some fringe communist or socialist party.

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"To the multitudes of investors who sent him money, Clyde Hood's promises of low-risk, high-return investmensts must have sounded like the answer to their dreams. Now Hood is headed for prison, and the money is mostly gone." ~ Shane Trisch, False Profit, Chicago Magazine

Shane Tritsch's article
"False Profit"
recites the bizarre story of the retired electrician who held himself out to be one of the world's top financeers in the process of fleecing tens of millions from tens of thousands. A "must read" for those interested in the Omega saga!

"Preventing Financial Instrument Fraud" -- prepared by the ICC Commercial Crime Services, the anti-crime arm of the International Chamber of Commerce. This unique reference guide uncovers the mysterious world of High Yield Investment Programs (HYIP) and Financial Products such as Letters of Credit, Bank Guarantees, CD's, Safe-Keeping Receipts and more as used by Fraudsters. By Jon Merrett and Paul Renner

NEW SCOTLAND YARD FRAUD ALERT SITE

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Real NESARA website calls Dove's claims false and outrageous
from:http://nesara.org/ news/ rumors2.htm

We continue to be pelted by people wanting us to clarify our positions against outrageous and impracticable claims continually being made by a person calling herself (or himself) Dove of Oneness.

Frankly, the time has arrived for all of you out there to recognize these false claims and stop hanging around that electronic front porch for information. If people can’t find creditable evidence on their own, there is little reason to believe incredible statements made by others! Dove never reveals her sources, validates her theories, cloaks everything in mystery, and that should provide sufficient evidence of her shenanigans. Her pen name and delusions about White Knights should be a clue that something is amiss. Those people who cling to her every word demonstrate that P.T. Barnum was correct.

The recent messages issued by Dove claiming that the gut-wrenching and mind-numbing calamities of September 11 are the direct result of back door dealings associated with NESARA are pure idiocy. Such stories would be humorous if the tragedies of Tuesday had not happened. We find all such rumor-mongering to be despicable, and the nature of the latest messages is mindlessness at its worst.

We refuse to believe that any person would believe such nonsense, but apparently some people do. To believe that the events of Tuesday were the result of stopping NESARA far exceeds the limits of common sense, especially when the bill has yet to find a sponsor and receive a number, let alone to have been introduced into committee or being discussed on the floor. We iterate one more time: to verify the status of the bill check our Status of the Bill web page. If you do not believe us then check the Thomas locator registry. If those avenues are insufficient to satisfy conspiratorial inclinations, then use the phone and contact representatives. Validating the status of the bill is rather easy, unless a person is void of all common sense. Apparently people who encourage idiotic rumors are people who lack common sense and we must also wonder about those people who follow such rumors.

We have considered the possibility that these idiotic rumors are attempts to discredit NESARA. People who forward such messages certainly discredit NESARA. We also have considered that people who initiate such mindless rumors are nothing but con artists, preying upon people for a simple buck. We feel sorry for any person who has invested hard-earned funds with such con artists because history teaches that you will never again see your money. Sadly, we don’t know with whom we should be more dismayed, the originators of these rumors or those people who believe the nonsense.

Right now our hearts and minds are focused upon what happened September 11. Much healing is needed in this land and that is where our attentions should be. We are experiencing the same pain and agony as everybody else across the land. Spreading idiotic rumors is a prime indication of complete shallowness and of somebody not dealing with a full deck of cards.

People who satisfy their own pitiful egos by using NESARA and the tragedies of September 11 are sick. Lawfully and legally everyone has the right to voice their opinions but some people are obviously immoral and unethical. Despicable seems too weak a word.

We firmly embrace the right to free speech. However, that right also embraces the right to not listen to or read the trash. We would rather not hear any more of this nonsense.

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Dove creates bogus NESARA websites

After the (real) NESARA creators in Louisiana began dispelling rumors that Dove and the associated loonies had anything to do with NESARA and issued the press releases set forth above, Dove then created several knock-off websites that to proclaim the "true" NESARA law, i.e., NESARA plus Dove's garbage. These bogus NESARA websites are:

  • http://www.2012.com.au/ NESARA_Update.html -- The information about NESARA is buried deep in this spacey New Age cult website full of the pyramid-power type nonsense that we thought went out with mood rings and disco, check out the main page at http://www.2012.com.au/Site.A.html for the wild & wacky. Read up on NESARA and Galactic History according to Mother Sekmet too!

  • http://www.petitiononline.com/ nes911/ petition.html -- "We, the undersigned, demand the announcement and implementation of the U.S. Law passed "Constitutionally" in secret by Congress in March of 2000, approved by Congress on September 9, 2001, and again passed in November, 2001," pretty much says it all. Does ANYBODY think that all 500+ members of Congress are capable of keeping a secret? Any secret?

  • http://oneflynangel.com/ nesarabill.html -- Another NESARA variant, with Dove's e-mail address, that "discourages renting" of homes (apparently Dove was having trouble meeting the rent check that month).

  • http://members.tripod.com/ white_knights911/ history.htm -- The "history" of the "true" NESARA law promising "debt forgiveness" for everyone. A priceless Dove work, plays to distressed farmers who lost their farms in the 1980s

  • http://principalityofcamside.cc/ Government/ USA/ NESARA/ NesaraIndex 200207.htm -- Another bogus website discussing the "conspiracy" to keep NESARA secret. Sponsored by the non-existent Principalities of Caledonia and Camside.

  • http://www.rangeguide.net/ nesara.htm - This page claims that on November 11, 2001, all of the people in Orange County, California, had all of their debts forgiven by NESARA. Quite amazing that 3 million people could have all their debts forgiven and were able to keep it a secret.

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Real NESARA website disclaims
ties to prosperity programs

from http://nesara.org/ news/ rumors.htm

There are some popular rumors we want to dispel.

Firstly, many people who write to us seem to believe that secret sessions are in place, or that NESARA is actually law but (strangely) not made public. We can only respond by saying, no, no such thing. The legislative process is rather cut and dry, set in stone if you will, and a couple of mouse clicks to the Thomas locator registry (http://thomas.loc.gov) will dispel such rumors. Furthermore, our status page is updated weekly and, if anybody knows the status of the bill, we expect that we will.

Secondly, many people who write to us seem to believe we are somehow connected with various financial schemes. At least some people are representing or claiming such an idea. We cannot vouch for the validity of those schemes, nor do we care to investigate. Get-rich schemes probably have existed since the beginning of recorded history, and although many schemes are legitimate, some are not. We can only caution that each of you do your homework before investing hard-earned funds into any venture. We suggest you do the same with NESARA. You should not take our word that NESARA is a good thing for America, or the word of so-called experts. Read the bill for yourself and make up your own mind.

Thirdly, we remind people that NESARA is not a debt forgiveness program. NESARA changes the banking laws and introduces new banking loan equations. Under the new equations and laws, existing secured debts are recalculated and some people will find themselves debt free, but nobody will get less than they bargained for. There is no forgiveness of loans, only recalculations. We ask you to study our FAQs as we thoroughly explain this fallacy. We also ask you to download our spreadsheets so you can visualize how the new laws and equations affect your personal debt situation.

However, we do offer our word that we are not affiliated—at all—with any investment venture or scheme. Whether or not NESARA seems to fulfill certain gurus’ claims or even if NESARA appears to fulfill certain prophecies, we can only state that such connections are coincidence only. The authors of the NESARA web site have presented NESARA to the world as a pure grass roots effort. There never has been any connection with the authors’ efforts and the efforts of financial gurus or investment ventures.

We addressed similar rumors back in October of 2000. Sadly some of these rumors have circulated for several years, long before the bill was posted to the web.

We really do not know how to dispel such rumors other than refute them, but you can help by not forwarding the rumors to others. Although our effort to date is a labor of love, the rumors are frustrating for us and responding to such queries does indeed consume some of our time. We hope that this particular message will serve notice that there are no connections and that you would work to quash those rumors.

We do not wish to make a big deal out of this, nor do we wish to discourage your enthusiasm, but rumors do not help the cause. As many of you have discovered, legislators do not like working with fringe elements or “nuts,” and when legislators are confronted with rumors, that is exactly what they think and they become callused to the true cause that might lie underneath.

We understand how the rumors possibly start. NESARA is written with a fundamental understanding of basic natural rights. Unlike most legislation that is highly partisan and slanted toward special interests, NESARA was written so that all parties are winners. NESARA is truly a bill that benefits all people, not just a chosen few. Therefore, just about anybody can “lay claim” to the bill. Although we dislike the rumors, observing that so many people have attempted to connect themselves with the bill is indicative that many people, deep in their hearts, understand the fundamentals of natural law and free markets. Because of those cornerstones, many people are attracted to NESARA. NESARA creates a win-win situation, and so the rumors start flowing.

Perhaps the only people who might think they do not win are the legislators and moneyed elite. That should surprise absolutely nobody. NESARA reforms the banking laws, greatly discourages Congress from trying to create money out of thin air, and eliminates government intrusion into our lives by swapping a sales tax for the much hated tyrannical income tax. All the more reason to pressure legislators and to encourage upcoming candidates.

We are always available to answer questions and to sit with qualified people to explain the details of the bill. NESARA can be deceptively simple, yet the long-term implications of NESARA are not so simple. Therefore, we urge you to contact legislators and urge those legislators to contact us. We urge you to place in their hands a printed copy of our PDF version of the bill. Most of us can afford to send a 2-to-3 day priority package to their legislators. We also urge you to contact upcoming 2002 candidates. Provide them with a copy of the bill. Urge those new candidates to contact us. NESARA provides a powerful tool to the 2002 challengers of the incumbents.

If your legislators refuse to support NESARA, then we urge you to respond in a rather simple but dramatic manner. Ask those legislators, “Then why do I need you?” Be blunt. Politics is often a slow game, but bluntness and loss of support seems to get legislators’ attention. We are talking about nothing less than your future and the future of your children. Somewhat unbelievably, only a few dozen phone calls to each legislator with “Then why do I need you?” will shake the tunnels and halls of Congress. Sometimes bluntness pays—and is much easier than trying to validate rumors.

Thanks for your support.

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Real NESARA website dispels rumors
about secret passage and debt forgiveness

from http://nesara.org/news/ treasury_ reserve_ banks.htm

We’ve decided to respond to the various rumors regarding the enactment of NESARA into law. After some late night surfing of the internet, and a couple of responses from some kind souls, we think we now understand the confusion.
The confusion probably arises from some of the terms used in a rumor (we dislike the word but nothing else fits) circulating for several years using identical or similar terms used in NESARA. We make no attempt to substantiate the rumor, but we see a thin possibility that NESARA and the rumored bill could be vaguely connected. The rumor apparently circulated strongly only within the past decade and we must remember that NESARA was originally introduced to Congress in the early 1990s. Although we are not looking for connections, we see the possibility.

The details of the recent rumor can be viewed at http://www.rumormillnews.com/cgi-bin/config.pl?read=4614. We saw a similar message being routed around the internet several months ago and did not make the connection until reading the previous information. The message that circulated about two months ago can be read at http://www.syninfo.com/ian/PRIVATE/2000/08/06/2000080620193454.html.

Interesting information, but the best we can offer is that NESARA was developed independently of any “outside” help. The bill was written based upon system theory analysis and years of study and research. In other words, engineering analytical tools were used to develop new equations and to study the root causes of social problems, then translated into corrective legislation.

In the hopes of quashing future rumors of this sort, let us offer to you some things to think about.

The rumored bill was supposedly passed in secret. That means 435 representatives and 100 senators, thousands of aides and tunnel rats, a president, a vice-president, a secretary of state, a secretary of the treasury, the director of the federal register, etc., all have kept the secret. We must also think that this bill was introduced to a secret nightly session of Congress and that every single media person was sound asleep. If you believe any of that you might also want to start looking for ocean front property in Nebraska.

Second, there is no record of any such bill appearing in the Thomas registry.

We also note there are some keywords used throughout the rumor that seem designed to excite and capture the attention of so-called patriots. Words and phrases like abolishing the IRS, abolishing the Federal Reserve System, restoring the Constitution, and the New World Order. Such verbiage should be a clue that something might be fishy.

Then there is the issue of removing citizens from admiralty and statutory law. That statement in itself should be clue to knowledgeable individuals that the rumor is just that—a rumor. These terms are hot words among “patriots.” The problem today is not admiralty or statutory law, but a gross negligence on the part of many people, in their failing to understand the nature and cause of most actions at law. Courts today merely respond within the capacity required by the pleaded action. People no longer need to physically visit the “correct” court, but instead visit any court (within appropriate jurisdiction and venue) and, depending upon the action pleaded, the court responds accordingly wearing the appropriate hat. Today, all actions begin as civil actions, but few individuals ever demand to know the nature and cause of the action. Is the action one of equity or law? Few ever ask, and then assume they have been railroaded because they do not understand the basic rules. The problem is not admiralty or statutory courts, but gross negligence of the respondents.

Another clue that something might be awry is the supposed new Treasury Notes will be backed 100% by precious metals. After many decades of not using commodities as currency, most students of monetary policy understand that a return to currency based exclusively upon commodity metals would be incredibly difficult. Murray Rothbard was fond of this idea, and wrote that a re-evaluation of gold would establish the price at somewhere around $1,217 (FRNs) per ounce. At such valuations, the reciprocal is 1/1,217 of an ounce of gold representing $1. A fifty cent piece would contain 1/2,434 of an ounce of gold. A dime would contain 1/12,170 of an ounce of gold. At such valuations, how small of a coin do you think would be needed to represent $1? Even if base metals (copper and nickel) were used to provide the substance of most of the coin, how would ordinary people verify that the new coin contained the appropriate amount of gold? We don’t know about you, but we think, “Not feasible, period.”

To those who have studied the NESARA proposal, you should know that NESARA does not create an exclusive “metals-backed” currency. Instead, NESARA re-establishes gold and silver coin as an alternative currency while converting Federal Reserve Notes into the new Treasury credit-notes. The exchange of FRNs for credit-notes will be one-for-one, not ten-for-one as the rumor states.

Unlike the rumored bill, students of NESARA will notice that no price or wage adjustments need ever be made.

There are other similarities in that the rumored bill claims some mortgages will be forgiven. Though NESARA eliminates much public and private debt, nowhere does NESARA forgive debt. Instead, all current secured bank loans made on a fractional reserve basis are recalculated according to the new law. Banks still make a profit on those loans, but for many borrowers, those debts will be recalculated as paid in full. This is not the same as forgiving a loan.

Even if the rumored information regarding counterfeit bonds is true, NESARA would render the entire discussion moot because NESARA requires all banks to exchange all government bonds for newly created Treasury credit-notes. Under NESARA, banks will not be allowed to use as reserves anything but the new credit-notes. Banks will be prevented from directly buying and holding government debt. Banks could still buy commercial paper that might indirectly hold government debt (mutual funds, for example), but nonetheless cannot use that paper as reserves. Therefore, under NESARA, banks cannot default because of using counterfeit bonds as reserves.

Lastly, we must add some sobriety to this story. Many people wrongly believe that one day the “money powers” will pull the rug and collapse the entire economic systems around the world. Any reasonable student of history, and banking in particular, should know that the last thing the so-called money powers would want is a collapse of the system. Debt-based businesses, especially when using compound interest, provide tremendous profit to those who live on the lending side of the fence. There is no way your average, live down the street, banker would ever want to see a collapse. Bankers have no desire to own tractors, cars, houses, etc., they are primarily interested in profits made from loans to others. In short, if anything, the so-called money powers will do everything they can to preserve the current system based upon compound interest. They learned their lessons well during the Great Depression and have no intention of making the same mistakes again.

Nonetheless, NESARA resolves many of these problems. NESARA provides for a sound currency; abolishes the diabolical income tax; replaces the income tax with a more fairer, equitable, and uniform national sales tax; respects fundamental rights by not taxing the necessities of life; reforms the banking laws so both borrowers and lenders come out ahead, eliminates an unknown but certainly significant amount of private debt; eliminates at least $1 trillion of public debt; and is designed to control currency inflation. Under NESARA, the purchasing power of the national currency will remain stable for generations to come, a highly desirable moral consequence.

We accept the misunderstanding arising from confusing NESARA with the current circulating rumor but strongly suspect the coincidence is purely happenstance.

Let us get back to solving the monetary and fiscal challenges before us, shall we!

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