Proposed 28th Amendment to eliminate taxation at all levels and to
fix the monetary system (rough draft):

It being recognized and acknowledged that "TAXATION" is nothing other
than legalized armed robbery; and that the utilization of electricity
has made gold and silver coin inappropriate to be used as money; and
that the interest surcharge attached to money lent by the People's
Central Bank should be the property of the People of the United
States, it is hereby resolved that:

The purpose of this amendment is to eliminate all taxation in the
entire Federation; Federalize the Central Bank and fund all four
levels of government with interest collected on Central Bank Loans
extended to borrowers in the private sector by the People's Central
Bank.

To facilitate the foregoing:

A Central Bank to be known as The People's Central Bank is hereby
created;

The Federal Reserve Act is hereby dissolved;

All monetary obligations and transactions agreed to prior to this
amendment shall continue in effect as agreed to, as though the
Federal Reserve System were still functioning. All Federal Reserve
Notes now in circulation shall be honored by the People's Central
Bank. Such notes shall be replaced from time to time with notes
identical to Federal Reserve Notes with the exception that they will
be imprinted across the top with the words "People's Central Bank
Note" and other minor technical changes. Notes issued as
replacements for Federal Reserve Notes shall be valid to be received
as payment for all obligations previously entered into under the
Federal Reserve System, however no new loans may be made lending
notes of the People's Central Bank without a prior license procured
from the People's Central Bank. All new commercial loans will be
required to bear an interest surcharge payable to the People's
Central Bank; (mortgage loans, business loans, credit card loans and
loans of every nature, other that loans to family members of the
first degree, are deemed to be commercial loans).

Except as hereinafter modified, all monetary activity heretofore
engaged in by the Federal Reserve System are hereby assigned to and
assumed by and will be continued as parties thereto had previously
agreed, by the People's Central Bank;

All facilities previously owned and operated by the Federal Reserve
are hereby Federalized and will hereinafter be owned and operated by
the People's Central Bank.

There is hereby created what shall henseforth be known as "The Board
of Governors of the People's Central Bank". Those men who are
currently serving on the Board of Governors of the Federal Reserve
System are hereby appointed, should they choose to accept such
appointment, to serve on the Board of Governors of the People's
Central Bank, with the same rate of remuneration as previously. The
Board of Governor's of the People's Central Bank shall have no
authority to regulate interest rates nor to engage in any function
what-so-ever with out direct specific instruction from the
Legislatures of the Several States. The Legislatures of the Several
States shall have full, one hundred percent control over the
operations of the People's Central Bank, in every respect. Neither
the Federal Governmnet nor any of the legislatures of the Several
States shall have authority to borrow money from the People's Central
Bank for any purpose what-so-ever;

The following articles and provisions of the Constitution of the
United States of America are specifically repealed and/or modified as
set forth herein below:

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Article 1 Section 1 Clause 3 - Providing for direct taxes to be
apportioned according to population, is replaced as follows: The
interest percentage rate surcharge to be attached to all loans to
private sector borrowers shall be determined, from time to time, by
the legislatures of each of the Several States, by the local
legislatures of each level of government of each local community, as
determined and in accordance with rules established by the State
legislatures of each of the Several States. This Section shall be
liberally construed to accord each level of government as much
autonomy as is reasonably possible any interference thereby by the
state legislatures shall only be asserted upon a request presented by
means of a petition signed by thirty percent of the property owners
of each community so petitioning. The interest rate to be assessed
to provide revenue to the Federal Government shall be determined by
the legislatures of the Several States - NOT by the Federal Congress;

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Article 1 Section 6 Clause 7 - Bills for raising revenue shall
originate in the House of Representatives, is replaced as follows:
Revenue to support the Federal Government shall be raised as follows:
The State Legislature of each of the Several States shall determine a
rate of interest percentage to be attached to each and every loan
extended by the People's Central Bank to private sector borrowers in
each of the State Legislatures own state. This interest percentage
rate may be unique in each state with no consideration to the
interest level set in any of the other Several States;


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Article 1 Section 8 Clause 1 -The Congress shall have power to lay
and collect taxes, Duties, Imposts and Excises is replaced as
follows: The Congress of the United States shall nave no authority
to raise revenue. All revenue apportioned to the Federal Government
shall be determined by the legislatures of the Several States, each
State determining for itself the level to be provided to the Federal
Government by its state. When the collected monies are collected and
paid over to the federal Treasure, then and only then may the
Congress of the United States appropriate such monies for Federal
expenditures;

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Article 1 Section 8 Clause 1 - [Congress shall have power] to borrow
money on the credit of the United States is replaced as follows: The
Congress of the United States shall hove no power what so ever to
borrow money from any source what so ever. If any lender were to
extend credit to the Federal Government of the United States, let
such creditor be hereby advised - such loan will not be repaid
through revenues collected on interest surcharges laid on loans to
private sector borrowers in any of the Several States of this
Federation. Any such lender will have full recourse to sue any
member of Congress who applies for any such loan, on a personal
basis, in order for such lender to recover such loan.

Neither shall any state legislature of any of the Several States, nor
any sub entity thereof, have any authority whatsoever to borrow money
from any source whatsoever and any lender who were to extend any such
loan to any level of government of this Federation may attempt to
recover the principle thereof as previously set forth in this section
above, by suing the legislator, but only in his private capacity;


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Article 1 Section 8 Clause 5 [Congress shall have power ] To coin
money, regulate the value thereof, and of foreign coin is replaced as
follows: It being recognized that the electrification of human
society has forever made gold and silver coin impractical as a medium
of money, the use of gold and silver coins is replaced by the use of
paper money to enter circulation as the principle of loans extended
by the People's Central Bank to borrowers of the private sector,
backed by the promise of the private sector borrower to create goods
and services equal to the loan principle advanced, together with the
interest surcharge agreed upon, and as from time to time regulated by
statute of each States Legislature, but such interest surcharge is
never to be increased to a level above that which was agreed to by
the private sector borrower at the time and on the date the loan
contract was agreed to.

Nothing in this Amendment shall in any way be construed to in any way
preclude private parties from engaging in agreements to be paid in
gold and/or silver coin (or other agreed to medium), and such
contracts may be enforced in courts of the United States in
accordance with the terms of the subject contracts;

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Article 1 Section 8 Clause 6 [Congress shall have power ] To provide
for the punishment of counterfeiting ... current coin of the United
States is replaced as follows: [Congress shall have power ] To
provide for the punishment of counterfeiting ... current paper
currency of the People's Central Bank of the United States;

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Article 1 Section 8 Clause 11 [Congress shall have power ] To declare
war is replaced as follows: The war declaring powers of this
Federation are hereby reclaimed by the Legislatures of the Several
States.

In the event that the United States or any or its possessions are
attacked by an identifiable foreign power, and the Legislatures of
Seventy-Five percent (75%), of the then surviving Several States then
in Body Assembled shall so declare, then and only then shall the
United States be deemed to be in a state of war. In no event shall
the President of the United States or the Congress of the United
States have authority to engage the military or any other forces of
the United States in any sort of armed conflict with any foreign
power or other foreign entity without the declaration of war approved
by Seventy-Five percent of the then viable State legislatures as
previously set forth herein. In the event that such a condition is
declared - the same percentage of Legislatures of the Several States
as previously set forth herein, shall instruct the Board of Governors
of the People's Central Bank to credit the Treasury of the United
States Government with an amount of money as such Legislatures shall
at that time, or subsequently thereto, deem appropriate - in no event
shall the Congress or the President of the United States have
authority to order the Board of Governors of the People's Central
Bank to advance funds to the credit of the Treasury of the United
States. Such advancements, when approved by the legislatures of the
Several States, shall not be construed as interest bearing loans nor
as loans of any nature - such advancements shall be construed as
advances on what will be the Federal Government's portion of interest
collected on future revenue from interest collected on loans to
private sector borrowers extended by The People's Central Bank;

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Article 1 Section 9 Clause 1 Congress may impose a tax or duty on
imported persons is replaced as follows: The Congress of the United
States and the legislatures of the Several States are hereby forever
prohibited from imposing a tax or duty on any transaction of any and
every nature what-so-ever;

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Article 1 Section 9 Clause 4 Congress given the authority to lay a
direct tax based on apportionment of population is replaced as
follows: The Congress of the United States and the legislayures of
the Several states are hereby forever prohibited from imposing a tax
or duty on any transaction of any and every nature what-so-ever;

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Article 1 Section 9 Clause 5 No tax or duty shall be laid on articles
exported from any state is replaced as follows: The Congress of the
United States and the legislatures of the Several States are hereby
forever prohibited from imposing a tax or duty on any transaction of
any and every nature what-so-ever, and likewise, no state shall ever
have any authority to lay a tax or duty of any nature what-so-ever on
any entity what-so-ever;


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Article 1 Section 9 Clause 6 No preference shall be given by any
regulation of commerce or revenue to the ports of one state over
those of another: nor shall vessels bound to, or from one state, be
obliged to enter, clear, or pay duties in another is replaced as
follows: No preference shall be given by any regulation of commerce
to the ports of one state over those of another: nor shall vessels
bound to, or from one state, be obliged to enter, clear, or pay
duties of any nature to another State or to the United States. The
Congress of the United States and the Legislatures of the Several
States are hereby forever prohibited from imposing a tax or duty on
any transaction of any and every nature what-so-ever;

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Article 1 Section 10 Clause 1 No State shall .... coin money ... make
any Thing but gold and silver Coin a Tender in payment of Debt is
replaced as follows: No state shall enter into any treaty, alliance,
or confederation; grant letters of marque and reprisal; coin or print
money; emit bills of credit; make any thing but notes issued by The
People's Central Bank a tender in payment of debts; pass any bill of
attainder, ex post facto law, or law impairing the obligation of
contracts, or grant any title of nobility.

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Article 1 Section 10 Clause 2 No state shall, without the consent of
the Congress, lay any imposts or duties on imports or exports, is
replaced as follows: No state shall lay any imposts or duties or tax
of any nature what so ever on imports or exports;

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Article 1 Section 10 Clause 3 No state shall, without the consent of
Congress, lay any duty of tonnage is replaced as follows: No state
shall, without the consent of Congress, keep troops, or ships of war
in time of peace, enter into any agreement or compact with another
state, or with a foreign power, or engage in a war, unless actually
invaded, or in such imminent danger as will not admit of delay.

Cheers,

I'm Eric, WhoRU??