Financial Dictatorship Comes to America

Michael S. Rozeff
Lew Rockwell
October 6, 2008

My earlier articles on the current economic and financial problems begin last January and continue to today. (See here, here, here, here, here, here, here, here, here, here, here, and here) Little did I think that we would end up where we are today, with the Congress passing the Emergency Economic Stabilization Act of 2008.

• A d v e r t i s e m e n t

My last article, not included in the above list, focused on this Act as a gigantic tax increase. This article points out the shocking increases in government power that the government has conferred upon itself in this Act.

I believe that the American public has every right to rise up in anger against what this Act does and retire from office every legislator who voted "Yes" to its passage. None of them has upheld his oath to support and defend the Constitution. There is absolutely nothing in Article 1, Section 8 of the U.S. Constitution that empowers the Congress to do what this Act authorizes, nor is this Act a law made as a necessary or proper adjunct in order to support those powers that the Constitution does delegate to Congress.

The Emergency Economic Stabilization Act of 2008 is manifestly unconstitutional. I pen these words just for the record. Since the Constitution has long since been tarred, feathered, and ridden out of town on a rail, unconstitutionality no longer excites much emotion or interest. What matters is only what the American people will stand for. How much power over their lives and fortunes are they willing to put up with?

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This article was posted: Monday, October 6, 2008 at 12:02 pm

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