Much has been written about the famous debate between Thomas Jefferson and Alexander Hamilton over the constitutionality of America’s first central bank, the Bank of the United States (BUS). This was where Jefferson, as secretary of state, enunciated his “strict constructionist” view of the Constitution, making his case to President George Washington that since a central bank was not one of the powers specifically delegated by the states to the central government, and since the idea was explicitly rejected by the constitutional convention, a central bank is unconstitutional.
Article by Thomas J. DiLorenzo from Mises.
Treasury Secretary Alexander Hamilton notoriously responded by inventing the notion of “implied” as opposed to enumerated powers of the Constitution.
George Washington signed legislation creating the BUS not because of the strength of Hamilton’s argument but because of a shady political deal. The nation’s capital was being relocated from New York to Virginia, and Washington wanted the border of the new District of Columbia to abut his property at Mount Vernon. In return for a redrawing of the district’s border, Washington signed the Federalist’s legislation creating the BUS.
America’s first central bank was borne of a corrupt political deal, but that particular act of political corruption pales in comparison to what Hamilton and the Federalists really had in mind. As Murray Rothbard wrote in The Mystery of Banking (p. 192), Hamilton and his political compatriots, especially defense contractor/Philadelphia congressman Robert Morris, wanted
to reimpose in the new United States a system of mercantilism and big government similar to that in Great Britain, against which the colonists had rebelled. The object was to have a strong central government, particularly a strong president or king as chief executive, built up by high taxes and heavy public debt.
An especially important part of what Rothbard called “the Morris scheme” was “to organize and head a central bank, to provide cheap credit and expanded money for himself and his allies.”
Hamilton was Morris’s Machiavellian string puller in the Washington administration. As explained by Douglas Adair, an editor of The Federalist Papers (1980 Penguin Books edition, p. 171),
with devious brilliance, Hamilton set out, by a program of class legislation, to unite the propertied interests of the eastern seaboard into a cohesive administration party, while at the same time he attempted to make the executive dominant over the Congress by a lavish use of the spoils system. In carrying out his scheme … Hamilton transformed every financial transaction of the Treasury Department into an orgy of speculation and graft in which selected senators, congressmen, and certain of their richer constituents throughout the nation participated.
What Adair is talking about here is how Hamilton went about nationalizing the old government debt. New government bonds were issued and the old debt was to be cashed out at face value. This plan “immediately became public knowledge in New York City,” wrote John Steele Gordon in Hamilton’s Blessing (p. 25), “but news of it spread only slowly, via horseback and sailing vessel, to the rest of the country.” Thus, a tremendous arbitrage opportunity was created for the New York/Philadelphia political insiders like Robert Morris and his business associates. This was the first instance in US history of political insider trading.
Christian-Driven America-First Precious Metals.
Before markets collapse, the smart play is to move wealth or retirement to precious metals. Contact Genesis Gold now to make it happen smoothly with no hassles from a group driven by fellowship.
The political insiders, including many members of Congress, immediately swung into action to purchase as many of the old government bonds as they could from unsuspecting Revolutionary War veterans for as little as 2 percent of par value. As historian Claude Bowers described the scene in his book, Jefferson and Hamilton,
expresses with very large sums of money on their way to North Carolina for purposes of speculation … splashed and bumped over wretched winter roads…. Two fast-sailing vessels, chartered by a member of Congress … were ploughing the waters southward on a similar mission. (p. 47)
Among the men who became instant millionaires were “leading members of Congress who knew that provision for the redemption of the paper [at face value] had been made,” wrote Bowers (p. 48).
Upon observing this caper, Hamilton’s political nemesis, Thomas Jefferson, came to understand that Hamilton was intentionally creating a system of institutionalized corruption in order to buy the political support in Congress for his party’s big-government mercantilist/imperialist agenda — the very kind of political system the colonists had waged war against. In a February 4, 1818, essay (in Thomas Jefferson: Writings, pp. 661–696), written long after Hamilton’s death in 1804, Jefferson recalled what Hamilton was up to: “Hamilton’s financial system had two objects. 1st as a puzzle, to exclude popular understanding & inquiry. 2ndly, as a machine for the corruption of the legislature” (emphasis added).
With regard to the latter “object,” Jefferson explained that Hamilton
avowed the opinion that man could be governed by one of two motives only, force or interest: force he observed, in this country, was out of the question [note: this was pre-Lincoln]; and the interests therefore of the members [of Congress] must be laid hold of, to keep the legislature in unison with the executive. And with grief and shame it must be acknowledged that his machine was not without effect.… Some members [of Congress] were found sordid enough to bend their duty to their interests, and to look after personal, rather than public good.
Jefferson then described the very same scene mentioned above in the quote from Claude Bowers:
The base scramble began. Couriers & relay horses by land, and swift sailing pilot boats by sea, were flying in all directions. Active partners & agents were associated & employed in every state, town and country neighborhood, and this paper was bought up at 5 and even as low as 2% in the pound, before the holder knew that Congress had already provided for its redemption at par. Immence sums were thus filched from the poor and ignorant.
“Men thus enriched by the dexterity of a leader [Hamilton],” Jefferson wrote, “would follow of course the chief who was leading them to fortune, and thus become the zealous instruments of all his [political] enterprises.”
But the political power created by such graft was only temporary, said Jefferson. “It would be lost with the loss [i.e., retirement or death] of the individual members [of Congress] whom it had enriched.” Therefore, Jefferson reasoned, “Some engine of influence more permanent must be contrived.” This permanent engine of corruption, said Jefferson, “was the Bank of the U.S.” A central bank, once established, would be very difficult to destroy, and would inevitably become a permanent source of financing for political bribery and manipulation. How prescient.
Jefferson concluded that “Hamilton was not only a monarchist, but for a monarchy bottomed on corruption,” with a central bank being the financial centerpiece of the corrupt regime. He arrived at this conclusion based on observing Hamilton’s behavior as Treasury Secretary, as well as a personal conversation involving himself, Hamilton, Secretary of War Henry Knox, President John Adams, and Attorney General Edmund Randolph in 1791, the year the BUS came into being.
✔️ Boost your immune system with Nutraceutical by Dr. Zev Zelenko
✔️ Beat supply chain issues and future pharmaceutical tyranny with 5 Antibiotics Delivered to Your Home
✔️ Be ready to help yourself and your family with the World’s Best Med Kit
Jefferson recalled how President John Adams said of the British constitution, “purge that constitution of its corruption, and give to its popular branch equality of representation, and it would be the most perfect constitution ever devised by the wit of man.” To which Hamilton objected,
Purge it of its corruption, and give to its popular branch equality of representation, & it would become an impracticable government; as it stands at present, with all its supposed defects, it is the most perfect government which ever existed.
Hamilton was “so bewitched & perverted by the British example,” wrote Jefferson, “as to be under thoro’ conviction that corruption was essential to the government of a nation” (p. 671). Hamilton viewed “his” bank, the Bank of the United States, as being absolutely essential to his Americanized version of “the most perfect government which ever existed.”
[Originally published April 16, 2010.]
Most “Conservative” News Outlets Are on the Big Tech Teat
Not long ago, conservative media was not beholden to anyone. Today, most sites are stuck on the Big Tech gravy train.
I’ll keep this short. The rise of Pandemic Panic Theater, massive voter fraud, and other “taboo” topics have neutered a majority of conservative news sites. You’ll notice they are very careful about what topics they tackle. Sure, they’ll attack Critical Race Theory, Antifa, and the Biden-Harris regime, but you won’t see them going after George Soros, Bill Gates, the World Economic Forum, or the Deep State, among others.
The reason is simple. They are beholden to Big Tech, and Big Tech doesn’t allow certain topics to be discussed or they’ll cut you off. Far too many conservative news outlets rely on Google, Facebook, and Twitter for the bulk of their traffic. They depend on big checks from Google ads to keep the sites running. I don’t necessarily hold it against them. We all do what we need to do to survive. I just wish more would do like we have, which is to cut out Big Tech altogether.
We don’t get Google checks. We don’t have Facebook or Twitter buttons on our stories. We don’t have a YouTube Channel (banned), an Instagram profile (never made one), or a TikTok (no thanks, CCP). We’re not perfect, but we’re doing everything we can to not owe anything to anyone… other than our readers. We owe YOU the truth. We owe YOU the facts that others won’t reveal about topics that others won’t tackle. And we owe America, this great land that allows us to take hold of these opportunities.
Like I said, I don’t hold other conservative sites under too much scrutiny over their choices. It’s easy for people to point fingers when we’re not the ones paying their bills or supporting their families. I just wish there were more who would make the bold move. Today, only a handful of other major conservative news outlets have broken free from the Big Tech teat. Of course, we need help.
The best way you can help us grow and continue to bring proper news and opinions to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal or Bitcoin as well. Bitcoin: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
Our network is currently comprised of six sites:
- NOQ Report
- Conservative Playlist
- Freedom First Network
- Based Underground
- Uncanceled News
- Our Gold Guy
We are also building partnerships with great conservative sites like The Liberty Daily and The Epoch Times to advance the message as loudly as possible, and we’re always looking for others with which to partner.
Some of our content is spread across multiple sites. Other pieces of content are unique. We write most of what we post but we also draw from those willing to allow us to share their quality articles, videos, and podcasts. We collect the best content from fellow conservative sites that give us permission to republish them. We’re not ego-driven; I’d much rather post a properly attributed story written by experts like Dr. Joseph Mercola or Natural News than rewrite it like so many outlets like to do. We’re not here to take credit. We’re here to spread the truth.
While donations are the best way to help, you can also support us by buying through our sponsors:
- MyPillow: Use promo code “NOQ” to get up to 66% off AND you’ll be helping a patriotic, America First company.
- ZStack: Improve your immune system with the Z-Stack protocol or rejuvenate your body from vaccines or shedding with Z-DTox by Dr. Vladimir Zelenko.
- OurGoldGuy: Tell them JD sent you in your request to buy gold and it will help us… AND (wait for it) you’ll be helping a patriotic, America First company.
- MyPatriotSupply: Stock up on long-term food, survival gear, and other things that you’ll need just in case things don’t recover and we keep heading towards apocalypse.
We know we could make a lot more money if we sold out like so many “conservative” publications out there. You won’t find Google ads on our site for a reason. Yes, they’re lucrative, but I don’t like getting paid by minions of Satan (I don’t like Google very much if you couldn’t tell).
Time is short. As the world spirals towards The Great Reset, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going. Our promise is this: We will never sell out America. If that means we’re going to struggle for a while or even indefinitely, so be it. Integrity first. Truth first. America first.
Thank you and God Bless,
JD Rucker
Bitcoin: 32SeW2Ajn86g4dATWtWreABhEkiqxsKUGn