“Indeed, we cannot too often inculcate upon you our desires, that all extraordinary grants and expensive measures may, upon all occasions, as much as possible, be avoided.  The public money of this country is the toil and labor of the people… reasonable frugality ought to be observed.  And we would recommend particularly, the strictest care and the utmost firmness to prevent all unconstitutional draughts upon the public treasury.” Instructions of Braintree, Massachusetts to their legislative Representative, 1765.

“As a very important source of strength and security, cherish public credit… use it as sparingly as possible… , avoiding likewise the accumulation of debt… in time of peace … discharging the debts which unavoidable wars may occasion, not ungenerously throwing upon posterity the burthen which we ourselves ought to bear.” George Washington, Farewell Address.

“Avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts which unavoidable wars have occasioned, not ungenerously throwing upon posterity the burthen which we ourselves ought to bear.” George Washington.

“Persuaded, as the Secretary is, that the proper funding of the present debt will render it a national blessing, yet he is so far from acceding to the position, in the latitude in which it is sometimes laid down, that “public debts are public benefits”—a position inviting to prodigality and liable to dangerous abuse—that he ardently wishes to see it incorporated as a fundamental maxim in the system of public credit of the United States, that the creation of debt should always be accompanied with the means of extinguishment.  This he regards as the true secret for rendering public credit immortal.“  Secretary of Treasury Alexander Hamilton, First Report on the Public Credit, 1790.

“The issuing power (of money) should be taken from the banks, and restored to the people to whom it properly belongs.”  Thomas Jefferson.

(i)     Under the doctrine of the Supreme Court’s decision in Craig v. Missouri, 29 U.S. (4 Peters) 410 (1830).  All contracts, agreements, or other arrangements in which any part of the consideration consists or consisted of the emission of unconstitutional “bills of credit” through or under the auspices of any Federal Reserve Bank, “member bank”, or “depositary institution” within the Federal Reserve System are void ab initio and unenforceable in any court of the United States or of any State.

(ii)     All alleged “public debts” of the United States, howsoever made and in whatever form, that have been incurred for the purpose of raising revenue to be expended from the general fund of the Treasury in payment of costs arising under a particular budget of the United States are void ab initio and unenforceable in any court of the United States or of any State in the same percentage that the unconstitutional programs, activities, or expenditures in that budget bear to the total programs, activities, or expenditures therein.  Every lender must be presumed to know the constitutional limits on the expenditures of money the general government borrows, to the same extent that every official of that government knows those limits.  So, if a lender extends a loan to public officials, knowing that his loan will be used for unconstitutional purposes, or with willful blindness to or reckless disregard of the unconstitutionality of those purposes, he is thereby a participant in a fraud against the American people.  And for the repayment of such a loan, the American people cannot be held liable.