Restoring the Dollar -- Address by Dr. Edwin Vieira, Jr.

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Restoring the Dollar To See the Big Picture

If you have reached this page

Transcript of Address by Dr. Edwin Vieira, Jr.
from an outside link,
and do not know
-- most people don't --
that the Republic of the USA
suffered a coup d'etat,
Without restoring the dollar we cannot restore government
nearly a century ago;
accountability.
and how government
accountability
John Maynard Keynes, the famous economist who fathered our present
CAN be restored,
economic system, alleged that Lenin was right. He wrote (confessing? or
we suggest that you go to Home,
boasting?) in The Economic Consequences of the Peace, 1920:
which is the ...
By a continuing process of inflation, governments can
confiscate, secretly and unobserved, an important part of the Big Picture
wealth of their citizens. There is no subtler, no surer means of In a Nutshell
overturning the existing basis of society than to debauch the
currency. The process engages all the hidden forces of ... with links
economic law on the side of destruction, and does it in a for documentation,
manner which not one man in a million is able to diagnose. explanation,
amplification, and
better understanding
of how the coup happened,
Without an honest monetary system there is no way we can hold our public how it has impacted your life, and
servants accountable, because, as Franklin Roosevelt said, financial how Accountability Can
interests own the government. and Must
soon be Restored and
What in this world is more mysterious and difficult to understand -- and our great Republic reclaimed ...
more vital that we do understand -- than the monetary system under which
we live? Inherent in the Constitution
is a viable Plan
In this exceptionally clear exposition, attorney Dr. Edwin Vieira, Jr., to take our nation back
foremost constitutional monetary authority, lifts the veil of mystery, reveals to be the great Republic
the meaning and import of words, and gives a step by step practical plan it started out to be.
for restoring constitutional money. The People have the authority.
We can do it through the States.
"Restoring the Dollar" is the transcript of an address to the convention of Not through the Courts;
the National Coalition for Monetary and Tax Reform in Denver, Colorado, which are part of the problem.
August 1991.
The States have Two Keys;
See below for more about About Dr. Vieira. -- the Only Keys --
both are in the Constitution.

One State ...

could start that ball rolling!
"Although control of the monetary and banking systems has
serious political significance, the apologists of the Federal Please go to Home,
Reserve System have been extremely successful in the last
seventy years or so in removing monetary and banking issues
from the agendas of the political parties, candidates, and
anybody else who is on the political platform or in the political
arena. -- Dr. Edwin Vieira, Jr.

Restoring the Dollar

Dr. Edwin Vieira, Jr.

Major Problem: Ignorance

Nature of the Federal Reserve
Politics and Money
Constitutional Control Removed
Consequences
Steps to Restoration

There is a fundamental and unexamined assumption in all this

debate; but the fact is, the paper currency the Federal Reserve
system generates, so-called Federal Reserve Notes, isn't as a
matter of fact, or more importantly as a matter of law, a dollar
at all.

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Major Problem: Ignorance

The major problem of monetary reform can be summed up in one word:

ignorance. There are a lot of other words you can add to it: apathy ...,
fear...; but ignorance is the main one.

At some stage in the course of registering at a hotel, the person behind the
counter gives me that little form and says, "How do you intend to pay for
this?" In fact, it happened at this hotel when I came here; and I said, "Well,
do you take Federal Reserve Notes?" About 95 percent of the time the
answer I get is, "No. We take American Express, Visa, MasterCard." The
other five percent (or 4.999 percent of the time -- there is one wise guy
every now and then who knows the right answer) they say, "Well, I'm not
sure. Let me go check with the manager." When they come back they say,
"No, we take only American Express, Visa or MasterCard." Then I take out a
Federal Reserve note and show them where it is written at the top, "Federal
Reserve Note;" and they smile a kind of embarrassed smile, and I smile,
and it is all very funny; except it really isn't, is it? It's quite the opposite of
being funny.

People don't even know the name of what they use as money, let alone
what its source is, what its characteristics are, or what its problems are.

Invariably discussions of monetary reform come down to the question of

whether the dollar should be somehow linked or backed by gold or silver or
some other valuable commodity. There is a whole school of thought that
brings that up in these discussions.

There is a fundamental and unexamined assumption in all this debate; but

the fact is, the paper currency the Federal Reserve system generates, so-
called Federal Reserve Notes, isn't as a matter of fact, or more importantly
as a matter of law, a dollar at all.

Any student of American constitutional law history knows a Federal Reserve

Note is not a dollar; it has never been declared by Congress to be a dollar,
and it could never be an actual physical dollar, no matter what kind of
statutes or regulations Congress or the Treasury Department might enact.
It is easy enough to show, and impossible to refute, that a dollar is a
specific silver coin containing 371.25 grains of fine silver. It has been so
since the beginning of the American Republic.

The Constitution fixes the monetary unit of the United States as this dollar;
and it empowers Congress to coin silver and gold coins, the values of which
have to be regulated in relation to the dollar. And it very specifically
prohibits the government from issuing what the Founding Fathers called
"bills of credit," what we would call today paper currency that is
redeemable in silver or gold. And the Constitution also outlaws any form of
legal tender except silver and gold coins.

Thus, from the perspective of the Constitution and most American history,
it is really senseless to talk about making the dollar redeemable or to talk
about adopting a silver or a gold-backed dollar. And the very fact that so
much debate on the Federal Reserve System focuses on this really
senseless point demonstrates how totally ignorant most of the people are
about the subject of American money.

Defining the dollar constitutionally is only the first step in explaining the
real nature of the problem the Federal Reserve system poses. There are
three other aspects to consider.

Historically, every major fiat money has self-destructed in what

is commonly called hyperinflation, that is, extreme decreases in
purchasing power that is caused either by unlimited increase in
supply by the issuer or simply by loss of public confidence in
the value of the money or in the economic or political fortunes
of the issuer.

Nature of the Federal Reserve

First, False Character of the Fiat

The evolution of the Federal Reserve system exemplifies a typical historical

devolution or corruption of monetary systems throughout the world for the
last two centuries. This is a devolution from commodity money to fiduciary
money to fiat money.

But first here are some definitions:

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Commodity money is a medium of exchange, the units of which are fixed

amounts of an actual commodity that has value other than as money alone.
Historically, silver and gold coins of known standard weights and designs
emerged as the preferred monies of the civilized world. Certainly that was
the result at the end of the last century.

With commodity money, the actual commodity, the silver or the gold, is
both the medium of exchange and the standard of value. The supply of
commodity money is self-limited because of the costs of minting, refining,
and coining the silver and gold. New supplies of commodity money will be
coined only to the extent that coinage is economically profitable. The
market will simply not produce more gold and silver coin than is necessary
compared to all the other uses of that capital.

Fiduciary money is composed of some intrinsically valueless substance,

typically paper, which the issuer promises to redeem on demand in
commodity money. Private bank notes and government treasury notes
served for fiduciary monies in general circulation prior to the 1930's in this
country.

With fiduciary money, the promise to pay is the medium of day-to-day

exchange. That is what people carry around in their pockets. But the actual
money and the ultimate standard of value remains the promised medium of
payment, the silver or gold coin.

The supply of fiduciary medium is also self-limited by the requirement of

redemption. In a free market system, in which contracts are enforced, the
supply of fiduciary money is issued only to the extent that the issuer is
confident it can satisfy the demands for redemption. (The self-limiting
aspect of fiduciary money has always failed whenever the government or a
powerful private interest has been able to step in and license the issuers of
the fiduciary money to suspend or to repudiate that promise to redeem.)

Finally, fiat money is composed of some intrinsically valueless substance

which the issuer does not promise to redeem in a commodity or in a
fiduciary money. Because fiat money has no legal connection to a
commodity money, and, therefore, has no real economic cost in terms of
production, the supply of fiat money is never self-limiting and is always
largely a matter of public confidence in the economic or political stability of
the issuer.

Historically, every major fiat money has self-destructed in what is

commonly called hyperinflation, that is, extreme decreases in purchasing
power that is caused either by unlimited increase in supply by the issuer or
simply by loss of public confidence in the value of the money or in the
economic or political fortunes of the issuer.

That is everything there is to know about the false character of money.

Second, Threat of Fraud

A piece of commodity money in silver or gold coin is itself payment because

it contains a fixed weight of precious metal. But a unit of fiduciary money,
say, of a bank note or a treasury note, is only an uncertain payment,
because it depends on the ability and the willingness of the issuer to
redeem it. There is always a temptation for the issuers to renege on the
promise. Thus, fiduciary money always threatens to become fraudulent.
The history of fiduciary money is the history of monetary fraud, both
economic and political.

Third, Inherently Fraudulent

Fractional reserve banking is inherently fraudulent because it is impossible

for the bank simultaneously to fulfill all its promises to redeem on demand.
The bank's managers know that complete redemption on demand is
impossible and that, therefore, the promises are false; and the bank's
customers, by and large, are simply ignorant of how the fractional reserve
banking system works.

In 1932 Franklin Roosevelt ran on the Democrat Party platform to preserve

the value of the currency at all hazards. The first thing he did when he
came to office in 1933 was to close the banks and cancel out receipts of
gold. But he got away with that. Then he went on radio with the fireside
chats. In the first fireside chat -- some of you may be old enough to have
heard this one -- he explained to the American people why the banks had
to be closed. He explained to them the fractional reserve banking system.
He said, "The money isn't there. The banks cannot pay."

I submit to you that when the President of the United States has to come
on nationwide radio and explain to the American people how the banking
system in the country really works, the people have not been given full
disclosure by their local bankers.

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There is no public political discussion about these issues

anymore, yet it is of vital political importance. ....A group that
could completely excise all of these matters from political
discourse in the United States without complaint by any
significant part of the public must be very, very powerful. How
the apologists for the Federal Reserve were successful in
stifling political debate, the history books really do not explain
very well.

Politics and Money

There's no such thing as politically neutral or politically independent money.

(That "neutrality" or "independence" is what has always been called "bird
seed." It's put out for us pigeons to eat, but it's not true.)

Money as a medium for both storing and exchanging wealth, is a form of

property, and mechanism for implementing contracts that transfer property
from one person to another.

Even in a free-market economy, money has a necessarily political character

since the degree to which the government protects the money system from
private fraud and from public looting reflects the degree to which the
government respects and protects private property and the right of
contract.

So, the debate over whether the Federal Reserve System ought to be
politically independent of Congress is completely misdirected.

The Constitution, being the ultimate political charter of the country, actually
settled on one very specific political formula for money: a money of intrinsic
value, the supply of which the political powers were unable to manipulate.
It made our money independent of all electoral politics by fixing the
monetary unit as the dollar, by outlawing bills of credit, and by allowing
only silver and gold coin to operate as legal tender.

The creation of the Federal Reserve System in 1913 did not make Federal
Reserve Notes politically independent or neutral, but changed the political
character of the money system by empowering a small unelected clique of
self-styled experts and private bankers to control the supply of Federal
Reserve Notes, interest rates, and all the other monetary and banking
phenomena -- to exercise the very influence over this country's money and
banking systems that the Constitution had originally disallowed.

Although control of the monetary and banking systems has serious political
significance, the apologists of the Federal Reserve System have been
extremely successful in the last seventy years or so in removing monetary
and banking issues from the agendas of the political parties, candidates,
and anybody else who is on the political platform or in the political arena.

There is no public political discussion about these issues anymore, yet it is

of vital political importance. No top political movement now has a case for
the immediate restoration of our constitutional money system.[This address
was made in 1991. The First National Convention of what is now the
Constitution Party was in 1992. Ed.]

It is of vital political importance that no top political movement commands

that all paper currency of private banks be true fiduciary monies -- that is,
redeemable in silver or gold.

It is of vital political importance that no top political movement attacks

fraudulent fractional reserve banking.

It is of vital political importance that no top political movement denounces

the incestuous relationship between the government and the banking
industry through the Federal Reserve, the FDIC, or whatever other outside
agencies will be coming along as this system explodes on them.

It is of vital political importance that no top political movement challenges

the government's use of the monetary and banking system to regulate the
economy and to impose pervasive police-state surveillance on individuals.

And it is of vital political significance that the general public is simply

unable to devise any kind of strategy for dealing with the Federal Reserve
System as a supposed agency of the government.

Even Congress is no big deal for the Federal Reserve. When the Federal
Reserve testifies before Congress, it tells Congress what the policy is going
to be -- not the other way around. Nobody has a handle on this agency.

A group that could completely excise all of these matters from political
discourse in the United States without complaint by any significant part of
the public must be very, very powerful. How the apologists for the Federal
Reserve were successful in stifling political debate, the history books really
do not explain very well.

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...any system of fractional reserve banking suffers from

inherent instability that increases over time; because at the
base, fractional reserve banking is a kind of Ponzi or pyramid
scheme. For that reason, fractional reserve banking is a
confidence game in both senses of the term.

Constitutional Control Removed

Clearly, the Federal Reserve was established to remove the Constitution as

the controlling agency in national monetary policy, and to guarantee that
certain special interest groups be monopolistically represented in
determination of that policy for the special benefit of those groups and at
everybody else's expense. There are two levels of analysis on which to
consider this fact.

First Level: Banking

The Federal Reserve System is a tool for stabilizing the inherently

fraudulent fractional reserve system. The purpose of the Federal Reserve
System is not to do what the bankers want; but to do what the bankers
need.

Let us look at the way a monetary system corrupts from a regime of

commodity money to that of fiat. In a regime of commodity money, the
bankers employ the inherently fraudulent fractional reserve system; they
expand the supply of fiduciary money beyond the supply of commodity
money available. This has two effects.

One, it enables bankers to loan more money than they otherwise would,
and that increases their profits.

Two, it makes the holders of the fiduciary money unknowing, and, I

assume, unwilling partners with the bankers in those excessive loans and
spreads the risk of the loans throughout society, indirectly insuring the
bankers at the expense of the public.

Because the expansion of the supply of this inherently fraudulent fiduciary

money is limited by the possibility of bankruptcy -- lots of people asking for
redemption, followed, logically by the bankruptcy of the banks -- the
bankers support legislation that is designed to insulate the fractional
reserve banking system.

First Con: Propaganda

They use propaganda and all sorts of disinformation to con the public into
believing that the banks are sound. One such mechanism is so-called
deposit insurance. "If we fail, the government will pay. Don't ask us who
will pay thegovernment." But it is you who will actually pay. So the first con
is disinformation.

Second Con: Suspension of Specie

With their influence, as we saw in the 1930's and many instances before
that, the bankers asked the government to authorize what was called
"suspension of specie payments" or simple refusal to fulfill their promises to
redeem the fiduciary money with commodity, allowing bankrupt bankers to
stay in business -- not allowed for any other segment of the economy.

Suspension of specie payments is a key indicator of the breakdown of the

free-market economy because that is a governmentally allowed repudiation
of contracts. In effect, they are governmentally licensed thefts.

Third Con: Fiduciary Turns Fiat

To prevent bank runs altogether, the bankers get government permission

to repudiate fiduciary money totally; converting the fiduciary money into
fiat money. No more bank runs: there's nothing to redeem.

The government then forces circulation of the fiat currency by some

mechanism such as making that to be money for payment of taxes for
public expenditures. Or the government could declare that money legal
tender for all debts; or the government could outlaw contracts that are
payable in any other form of money, especially commodity money. That is
precisely what the government did in the banking crisis in the 1930's --
1933, '34 and '35. They, in essence, with respect to gold coin, at least,
turned Federal Reserve Notes into a fiat legal tender currency. This
substituted the government, or the taxpayers, for the banks and the banks'
shareholders as the ultimate guarantors of fiat money, in return for which
the banks agreed to do two things:

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Bankers' Concessions

First, they agreed to monetize the public debt; that is, to buy government
securities for duly created fiat money, in effect, enabling the government to
use the fiat money system as an instrument of taxation.

Second, the banks agreed to cooperate in some kind of cartel or self-

regulatory scheme to control the expansion of the supply of fiat money
within limits that maintained public confidence; that is, the government and
the banks agreed to divide the amount that can be looted from the general
public by manipulation of the money supply and to moderate that looting so
that the system doesn't collapse and the public doesn't catch on.

The fractional reserve banking system is nothing but a conspiracy between

the public officials and the bankers to loot the American people. The Federal
Reserve is simply a very elaborate and complicated device that has been
set up to accomplish these simple ends in a higher more deceptive way.

The Federal Reserve system was created in response to failures in the

reserve banking system at the local or regional levels. It is a national
system regulating all; and it was an attempt, essentially domestically, in
1913, and then internationally under the Bretton Woods agreement in
1944, to expand that kind of fractional reserve system, first throughout the
United States and then throughout the world.

Real fiat money came into existence in this country only in 1968. The
promise to pay in gold was repudiated in 1933; and the promise to redeem
all currency, or any currency, in silver was refuted in '67 and into '68. It
was in June of 1968 that we finally had, for the first time in this country, a
true fiat currency in the Federal Reserve. So this is a fairly recent problem,
as historical political problems go.

In only about twenty years of fiat currency we have seen a geometric

breakdown in the monetary system, under which we suffer today.

In this system, the Federal Reserve plays a simple but very vital role. The
public confidence in the monetary banking system weakens because of the
effect of overexpansion of the supply of fiat money. That is always the
direction in which fiat money goes: expansion, expansion, expansion. The
Federal Reserve jumps in to "restore confidence," by what they call
"fighting inflation;" that is, producing increases, and then decreases in the
purchasing power of the medium of exchange. The Federal Reserve may
use what the public considers drastic means in this alleged fight. Nixon
imposed wage and price controls with a four percent inflation. But the
Federal Reserve will never use means so drastic that they precipitate a
genuine economic collapse or seriously endanger the long-term interests of
the banking cartel, its satellite industries or its political cronies.

However, any system of fractional reserve banking suffers from inherent

instability that increases over time; because at the base, fractional reserve
banking is a kind of Ponzi or pyramid scheme. For that reason, fractional
reserve banking is a confidence game in both senses of the term. The
Federal Reserve, the banking cartel, and the politicians of the American one
-party system operate under the theory that you can fool all the people
some of the time, and some of the people all of the time, and that's good
enough. But they forget that, as Lincoln remarked, "You can't fool all the
people all the time." Over time, some people encourage others to learn
what's going on. And people who have learned tend to act.

So we can expect that the remaining lifetime of the Federal Reserve

confidence game will be relatively short.

Second Level: Economic

Now let me shift to a somewhat higher level of analysis.

The Federal Reserve system is not simply a control mechanism for the
national banking cartel. It is one of the most important mechanisms in a
pervasive system of Fascist economic regulations that has been set up in
this country, slowly but surely, since the turn of the century. This explains
the political independence of the Federal Reserve system in a way that is
much more logical than the idea that money and banking are not politically
important, divisive or even interesting.

If a Fascist administrative state is to regulate the economy with relative

autonomy from the electoral public and most special interest groups --
which is the definition of an administrative state -- it runs the economy
without having to be subject to the whims of the voters. In that kind of
state, the monetary agency has to claim political independence. In fact, all
of the major regulatory agencies have to claim political independence --
which, they really all do claim, to some degree. The Federal Reserve claims
it to the greatest degree. So political independence is precisely what one
would expect the Federal Reserve to claim, being a part of an anti-
Democratic mechanism of economic and political control.

And that no constitutional branch of the national government -- not the

Congress, not the President, and not the Judiciary -- ever disputes the

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Federal Reserve system's supposed independence, proves that those

branches, too, have been couped with agencies of this Fascist state.

... by functioning as a mechanism for redistributing wealth,

modern political money systematically corrupts the electoral
process because it enables politicians to buy votes with
promises of new government spending programs made possible
only by the banking system's ability to monetize the debt.

Consequences

Contemporary political money, and the banking system that generates it,
have five major consequences.

First, political money is the prime means by which the government

operates a system of hidden taxation through increases in the supply of
money, the inflation mechanism.

Second, by operating a system of hidden taxation, modern political money

enables the ruling elite of the country to redistribute the nation's wealth
from one group to another. Greg Barrington, of The American Institute for
Economic Research, puts out a little paper every year reporting how much
money has been redistributed by inflation since World War II, which ended
in '45. The last one I saw showed over six trillion dollars had been
redistributed through inflation -- six trillion!

Inflation redistributes wealth in a way that the market would not have
distributed the wealth, and therefore produces, as a result, less valuable
product than the market would have produced. The United States has
suffered a fantastic loss of wealth -- minimum six trillion dollars since World
War II -- because of the Federal Reserve system.

Third, by functioning as a mechanism for redistributing wealth, modern

political money systematically corrupts the electoral process because it
enables politicians to buy votes with promises of new government spending
programs made possible only by the banking system's ability to monetize
the debt.

In the old days the voters would say to the politician, "Here's some money.
Vote for these programs." Today the politicians can generate the money
themselves; so they say, "We have the money. Vote for us."

Pork barrel legislation on a vast scale is possible because they can generate
fiat currency without limit -- at least over time.

Fourth, by tying the banks to the public debt, modern political money
licenses the banks to loot the public treasury -- initially by guaranteeing
Federal Reserve Notes as obligations of the United States and privileging
those notes as legal tender -- and ultimately by providing bailouts to the
bankers through the FSLIC, the RTC, the FDIC, and whatever, when the
scheme of inherently fraudulent fractional reserve banking collapses. We
can see that happening right now: billions, hundreds of billions, five
hundred billion dollars for the savings and loan bailout. No matter what
they tell you. It will cost five hundred billion, at least. How much will the
commercial bank bailout cost? How much will the bailout of the insurance
companies cost? What will the bailout of the pension funds cost? Pension
Benefit Guaranty Corporation. What will the bailout of those cost? Add that
to the six trillion lost since World War II.

Fifth, modern political money and banking functions as a key mechanism in

the scheme of Fascist economic planning that misdirects and wastes
resources and thereby lowers the standard of living of most Americans for
the benefit of the privileged few.

... Such part and parcel reforms have been put into effect in
several other countries. It can be done! The only question is
whether the American people (a) want it to be done, and (b)
have the gumption to make the politicians do it.

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Steps to Restoration

Restoration must be done constitutionally. The current system is entirely

the product of statutes and regulations, ninety-five per cent of which is
unconstitutional. Change will have to be made by the enactment of new
and different and constitutional statutes.

I can give you an outline of the steps to bring the US monetary and
banking system back into conformance with constitutional law -- all of
which can be documented historically -- based upon early instances of
American constitutional and statutory law:

First, recognize that the basic unconstitutional steps that were taken by
the government to establish ultimately this fiat currency system must be
declared unconstitutional:

• 1. The Federal Reserve Act of 1913

• 2. The seizure of gold coin in 1933
• 3. The outlawing in 1934 of private contracts calling for payment in
either gold or silver

Second, disestablish the Federal Reserve system and privatize its few
politically legitimate and economically useful functions, such as a national
clearing house, etc., to the extent that those functions would be legitimate
and useful for private banks if they could be continued, but certainly not
under the auspices of anything that looks like the Federal Reserve system.

Third, terminate the status of Federal Reserve Notes as obligations of the

United States, as legal tender for all debts. There is absolutely no
constitutional justification for the American taxpayer to be the ultimate
guarantor for the wild investment schemes of banks, savings and loans,
and the other members of the the Federal Reserve system.

Fourth, dedicate to the restoration of the constitutional money system the

gold that was unconstitutionally seized from the American people in 1933
that is now held by the United States Treasury. Most of the gold is not
actually held in Fort Knox -- it is held at West Point. It is called "coin melt"
gold. It is the ninety per cent pure gold that was melted down into ingots,
primarily from coins that were seized during the 1933 seizure because the
government did not have that much gold.

Who owns that gold? The people from whom it was stolen own it, because it
was illegally taken. The government is engaged in receiving stolen goods.
All of that money must be returned to those from whom it was taken -- if
they can be ascertained -- or held in what is called a constructive trust to
be used for a purpose related to the restoration of the monetary system,
and that would mean coining all of that gold and getting it out into
circulation as quickly as possible if we cannot find the actual owners.

Fifth, declare voidable all contracts between member banks and the
Federal Reserve system and any other parties where the consideration for
contracts on the part of the banks was the unconstitutional monetization of
debt. Now what that means is that you collapse the debt pyramid to the
detriment of the banks; the banks keep the debts. Thus, it's not the
taxpayers who eat them, the banks eat them. The Rockefellers eat them --
the foreign shareholders of those banks eat them. If they don't like that
they can go to jail on RICO charges.

Sixth, revalue in terms of constitutional dollars all outstanding contracts

now payable in Federal Reserve Notes. Honest people were forced by
circumstances to conduct their financial affairs on the basis of Federal
Reserve Notes, and those contracts cannot be voided. The contracts must
have some real value attached to them. The real value attached to them
would be their value in constitutional dollars.

This problem was solved by the Confederate States after the Civil War.
Contracts in the Confederate States that were not declared to be illegal
contracts were revalued in then-current constitutional gold and silver coin,
and the system worked fine. The Supreme Court figured out how to do that
at the end of the Civil War, and it can do the same today.

Immediately begin the free coinage of gold and silver coin; not the limited
coinage they do now -- the American Eagle coins -- but coining as much
gold and silver as people want to bring into the mints.

Seventh, adopt all the foreign silver and gold coins as money of the United
States -- what Congress did in the late seventeen hundreds when there
wasn't even a mint in this country. Where did the original money come
from? They just made a list of all the gold and silver coins that were any
good and said, "These have so much gold, and these have so much silver,"
and they were made the money of the United States. They monetized all
the gold and silver of the world instantly. Instantly it could be done.

Those who say there is not enough gold or silver do not know what they are
talking about. It is not in circulation because it is not treated as money.
Once it is said to be money it will start coming out from the coffers and out
from under the beds.

Regulate the value of all those coins and then prohibit the practice of the
fraudulent fractional reserve banking schemes and other such typical

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Restoring the Dollar -- Address by Dr. Edwin Vieira, Jr. Page 9 of 10

commercial fraudulent practices.

This is not a visionary program. It is very difficult politically to put it into

effect; but it is not, as a matter of economics, visionary.

These steps were taken twice before. At the end of the War of
Independence we had the same kind of rotting vegetable currency -- the
Continental currency -- the same Bills of Credit. There were no gold and
silver coins in circulation. The economy was absolutely prostrate. All of
these steps were taken, and economic recovery followed.

In the South following the Civil War, the Confederate currency was, of
course, destroyed. The country was prostrate, and was under military
occupation when these same steps were taken. In fact, they were taken in
the entire country with the resumption of the Specie Act in 1875 going from
the fiat "greenbacks" back to redeemable or fiduciary paper currency.

Such part and parcel reforms have been put into effect in several other
countries. It can be done! The only question is whether the American
people (a) want it to be done, and (b) have the gumption to make the
politicians do it.

*******

About Dr. Vieira

Dr. Edwin J. Vieira, Jr., Attorney at Law, received his A.B. (cum laude) in
Chemistry, A.M. andPh.D. in organic chemistry from Harvard University,
and a J.D. (cum laude) from Harvard Law School.

He is in private practice specializing in constitutional law, labor law and egal

-economic analysis. He is currently Executive Director of the George
Edward Durell Foundation and President of the National Alliance for
Constitutional Money.

Dr. Vieira has also been a consultant and attorney for the National Right to
Work Committee and National Right to Work Legal Defense Foundation; a
member of the Board of Fellows, Public Service Research Foundation; a
consultant to the U.S. Department of Labor; and a member of the Advisory
Board, Citizens for a Sound Economy.

He has been an Assistant Professor of Law at Wake Forest University School

of Law and Research Director of the Wake Forest Institute of Labor Policy
Analysis.

He is a member of the Bars of Maryland, the District of Columbia, the State

of Virginia, the United States Supreme Court, the United States Courts of
Appeals for the Third, Fourth, Sixth, Seventh, Eight, Eleventh, the District
of Columbia and Federal Circuits; and the United States District Court for
the Districts of Maryland and the District of Columbia.

He has had articles published in the "Wake Forest Law Review," "Detroit
College of Law Review," "DePaul Law Review," "South Carolina Law
Review," "Georgia Law Review," the "Cato Journal," "Law & Liberty," "The
Moneychanger," "Government Union Review," "American Economic
Foundation Bulletin," "The Free Market," "The Sound Money Investor," and
other publications. He is the author of Pieces of Eight -- the Monetary
Powers and Disabilities of the United States Constitution: A Study in
Constitutional Law.

He has also submitted numerous briefs to the Supreme Court of the United
States, including briefs on behalf of appellees and appellants as well as
amicus curiae briefs.

Dr. Vieira is also the author of Separation of Bank and State, availabe from
the National Alliance for Constitutional Money, Inc., P O Box 3634,
Manassas, Virginia 20108-0976. Send them a contribution of at least $5, to
save time and money for inquiries.

Is there anyone on the political scene today

who understands the fraudulent nature of what we use for money, that it is
a hidden tax by which our wealth is being confiscated, and who has the
wisdom and knowledge to restore the dollar?

Glad you asked! As a matter of fact, there is a such a party. And it has a
plan to accomplish this objective.

The Constitution Party is the largest and fastest growing minor party and
has been gathering momentum since its founding in 1992. That year its
standard bearer, Howard Phillips, was on the ballot in more than 20 states.
In 1996 he was on the ballot in more than 30 states. In 2000 he was on the
ballot in more than 40 states, and with write-ins was an option in 48 states.
The 2004 standard bearer is Michael Peroutka. The goal of the Party is to
limit the federal government to the functions delegated to it by the
Constitution and to restore American jurisprudence to its original Biblical

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Restoring the Dollar -- Address by Dr. Edwin Vieira, Jr. Page 10 of 10

common-law foundations, including taking the steps necessary for

restoring the dollar.

How Did They Manage to Put Over on The American Public This
Horrendous Scheme that Made Government Accountability
Impossible?

They did it in several planned and stealthfully executed steps culminating in

the loss of our dollars. These steps are recounted in a nutsell in Jean
Carpenter's carefully researched book,
Remarkable Remedy.

Over the years, especially in the 20th Century, and now in the 21st, our
Constitution has been rendered almost meaningless while our government
has become unaccountable.
See how that has been playing out in ways that affect you, and how
we can restore accountability.

*******

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