----> NEW: Trust Fund Thieves and Their Accomplices

NEW! Trust Fund Thieves and Their Accomplices

[Definition: A trust fund thief is any elected federal official who was in office from the time social security funds were first stolen to pay for the Vietnam War, through today.] 


In my last Update, I said that I would publish the names of the politicians, academics and media people who I contacted about supplementing Federal Reserve Notes (FRN) with U.S. Treasury issued, debt-free, United States Notes (U.S. Notes or Greenbacks).  U.S. Notes are legal tender currency, they are interchangeable with FRN, they have exactly the same value and they are currently an unissued part of our national money supply.  You will learn that these are irrefutable facts when you click on this link to the U.S. Treasury Department web site U.S. Treasury - FAQ: LegalTender Status of CurrencyI have been stonewalled on this issue for more than eight years by politicians, academics and the media.  During that time, our national debt has exploded from $7.2 trillion in 2004 to $16.7 trillion today. 

There is an alternative to our enormous and unnecessary national debt burden.  That alternative, United States Notes, is based on the U.S. Constitution (Article 1, Section 8, Paragraph 5) and existing law.  I have contacted more than a dozen elected officials, including Pennsylvania Congressional Representative Tim Murphy, Pennsylvania Senators Pat Toomey and Bob Casey and President Barack Obama. I have been telling them, and numerous elected local and state officials, about U.S. Notes for years. In fact, I have been sending them letters, faxes, E-mails and calling their offices since June of 2004.

For years, I have been informing the public about debt-free money on my web site/blog. I did radio interviews and ran for public office twice.  I passed out informational literature and posted road signs directing people to my web site/blog.  My objective has been to get the public to demand that our elected leaders stop stealing the social security “trust fund” money, and stop the needless, reckless government borrowing. So far, it has been a huge waste of time, physical and mental effort, and money.  Now, despite all my effort, our elected officials are using our enormous national debt as a “justification” to attack social security, Medicare, Medicaid and the ability of the government to “promote the general welfare” of the American people.  (Promotion of the general welfare is a Constitutional mandate for all elected federal officials.)  What else can I do to convince the American people that we are the victims of a $16.7 trillion scam? 

I won’t rehash what I have said on my web site/blog.  However, I want to make a blanket statement regarding the current “debate” about the state of our economy.  The solutions that I hear from our elected leaders for fixing our economic problems are a sick joke.  The Obama “jobs bill” is a Keynesian pie in the sky that will probably never become law.  How many years have the Democrats been babbling about this tax and spend gift to the private sector?  On the other side, the Republicans are pushing the same old permanent Capital Strike/economic blackmail.  They say, cut business taxes and regulations or the private sector will continue to sit on their trillions of dollars and continue to starve the economy.  What neither political party will tell us is that we are living in the New Normal economy.  Globalization, deunionization, outsourcing and deregulation have produced a low wage, high unemployment and slow growth economy that is a dream come true for some and a nightmare for others.  Fantastic executive pay and perks, fat profits, juicy dividends and lavish stock buy backs are enjoyed by some.  But, stagnant wages, meager worker’s benefits, no pensions and no job security, are endured by many others.  This is the New Normal.

In order to mitigate the ill effects of the New Normal economy, I proposed a New Deal type “jobs bill” that requires no tax dollars, no government borrowing and nothing from the private sector. The private sector seems to be more interested in their investments in China, Mexico, India, Vietnam and Bangladesh than they are in America.  So, I won’t bother with them.  My jobs bill can be found in my February 11, 2012 blog Update, beginning with the ninth paragraph.  The jobs outlined in my jobs bill are just a starting point.  The basic proposal can be greatly expanded.  These jobs will pay well and have good benefits.  These jobs will significantly increase our gross domestic product and decrease unemployment and underemployment.  All the jobs will be funded with debt-free legal tender United States Notes.  My jobs bill shows what can be done when economic policy isn’t held hostage to campaign contributions and other self-serving inducements from the private sector.  In other words, I’m not looking for a six or seven figure “job” at Goldman Sachs or the Swiss investment bank UBS.  I don’t plan to cash in on hefty speaking fees, like many ex politicians, for delivering useless speeches to adoring crowds. 

President Obama can implement my jobs bill the way President John F. Kennedy implemented debt-free money in 1963, with an Executive Order.  I believe President Kennedy had to use E.O. 11110 in order to bypass the ever-treacherous U.S. Congress.  Why?  It was extremely unlikely that Congress would authorize debt-free United States Notes under the Legal Tender Act of 1862, as was done under President Abraham Lincoln.  After the assassinations of Presidents Lincoln and Kennedy, United States Notes were eventually withdrawn from circulation and never again authorized by Congress.  I cover this little known part of American history in detail elsewhere on this blog.  I also debunk the insidious myth that Treasury issuance of U.S. Notes will cause hyperinflation.


On February 25, 2013, I mailed another letter to Senator Pat Toomey. That letter is the main focus of my February 23, 2013 Update, (posted 3-5-13), on this blog.  On March 25, 2013, I mailed letters to Representatives Nancy Pelosi and Tim Murphy.  On March 28, 2013, I mailed a letter to the Acting Director of the Office of Management and Budget, Jeffery Zientz.  All four of these letters addressed the same subject: U.S. Treasury issuance of debt-free, legal tender, United States Notes.  To date, of course, there has been no response from any of them.  I plan to continue sending letters to our elected public officials, academics and pundits and I will post their names on this blog site.  After enduring nearly nine years of stonewalling, I don’t expect to get a meaningful reply from anybody.  However, it is my duty as a responsible citizen to continue to petition the government for the redress of grievances.  I want the American people to know who is stealing their money.  And I want the American people to know who is helping them do it.

In a recent Current TV television appearance, Florida Democratic Congressman Alan Grayson said: “The social security trust fund has almost $2 trillion in the bank.  That’s what the rest of the government and the American people owe the trust fund.”  Let’s examine that statement.  1. When Grayson says “the government and the American people,” he really means the American taxpayers.  2. There was $2.7 trillion in the so-called “trust fund.”  3. What happened to the missing $.7 trillion?  4. Ever since the catastrophic, and soon forgotten, 2007/2008 subprime mortgage disaster/global credit crisis, FICA social security trust fund payments went into the red (Grayson didn’t mention that).  5. This means that approximately $.7 trillion was withdrawn from the non-existent trust fund to pay current benefits.  6. Since all the trust fund money has been stolen and spent by the politicians, where does the money come from to pay current benefits?  The Current TV interviewer never questioned anything that Grayson said.  In fact, at the end of the interview, he said to Grayson, “Thank you for telling it like it is.”

In an April 11, 2013 C-SPAN interview, Texas Republican Congressman Kevin Brady, referring to the social security trust fund, said, “There is no money, no surplus.”  He freely admitted that, “Congress and presidents” have been stealing the money “for thirty years.”  He ignored the fact that the politicians MUST STOP STEALING THE MONEY!   And, he had nothing to say about REPLACING the stolen money.  He said, “Last year ‘America’ had to borrow roughly $150 billion from investors, from China” to pay social security benefits.  That $150 billion is added directly to the national debt and it becomes a liability on the backs of the American taxpayers!  He also said, “Social security will never see a surplus again unless we take some steps to save the program for the long haul.”  He didn’t say what those steps are.  Of course, we know what those steps are.  They are the same steps taken by the Reagan/Greenspan Commission in 1983.  I’ve heard it a thousand times: RAISE THE PAYROLE FICA DEDUCTION, CUT BENEFITS AND RAISE THE RETIREMENT AGE.  Brady, Grayson and the interviewers didn’t mention the fact that we will never see a surplus again BECAUSE WALL STREET AND THE PRIVATE SECTOR DESTROYED THE ECONOMY IN 2007/2008!!!  This is the New Normal. 

Several years ago, I asked Pennsylvania U.S. Congressman Tim Murphy, at a Moon Township, Pennsylvania town hall meeting, why the politicians don’t replace the money that they raided from the social security trust fund.  Surprisingly, he admitted that, “I would have to raise your taxes to do that.”  Well, a politician tells the truth.  How nice.  But, when I reminded him of that statement at a later town hall meeting he said, “I don’t recall saying that.”   I flew off the handle and asked him, “Are you calling me a liar?!”  I was so angry, I can’t remember his response.  I wonder if anyone who was at that Greentree, Pennsylvania town hall meeting remembers that exchange.   After the meeting was over, I passed out my campaign literature to the meeting attendees, who were mostly senior citizens.  Incidentally, I lost my election for Pennsylvania State Representative and Tim Murphy won his election. 

On April 12, 2013, in a C-SPAN interview, Steve Bell, Economic Policy Project Senior Director of the Bipartisan Policy Center, was asked this question.  “Why don’t the politicians replace the money that has been spent from the social security trust fund?”  After a slight hesitation, he said, “The money is replaced.”  The interviewer never questioned his obviously bogus statement.  When I say America is in the grip of a Stupidity Crisis, I’m not engaging in hyperbole.  I am stating a fact.

The money stolen from all of the federal trust funds (more than $5 trillion) is “replaced” by us, the taxpayers!  I am so sick of explaining this scandalous scam over, and over, and over and over.  So, what is the moral of this horribly ugly story?  You can’t trust Current TV, the Democrats, C-SPAN, the Republicans or the Bipartisan Policy Center.  I hope the American people will FINALLY understand this reality: Robbing Peter (taxpayers) to pay Paul (social security) the money that was stolen from Paul (social security) only compounds the theft.       

The only way that our elected officials can truly replace the stolen trust fund money is with U.S. Treasury issued, debt-free legal tender United States Notes.  Therefore, I am calling for a complete audit of all federal trust funds going back to the era of the Vietnam War and beyond.  The American people have a right to know the full extent of this monumental grand larceny.  As I explained above, every penny that has been raided from all trust funds, from the very first day, is owed to the American people.  Replacing the trust fund money with future tax dollars or money borrowed from the credit markets (aka, the bond vigilantes) only compounds the theft.


List of Recipients of my Correspondence, the Thieves:
On June 23, 2004, I began writing to politicians, academics and the media.  Here are some of their names:

President: Barack Obama

Senators: Ernest Hollings; John Kerry; Ted Kennedy; Bernie Sanders; Hillary Clinton; John Edwards; Harry Reid; Tom Daschle; Robert Byrd; Bob Casey;  Mary Landrieu; Pat Toomey; Rick Santorum                                       

Representatives: Nancy Pelosi; Charles Rangel ; Joseph Hoeffel; Dennis Kucinich; John Lewis; Dick Gephardt; Steny Hoyer; Gene Taylor; Mike Doyle; Jason Altmire; Joe Sestak; House Democrats; Tim Murphy    
List of Recipients of my Correspondence, the Accomplices: 

[Definition: A trust fund thief accomplice is any person or organization that was/is in a position to help me put pressure on Congress. I have been trying to get Congress to authorize the U.S. Treasury to issue debt-free, legal tender United States Notes.  This would reduce taxes, the budget deficit and the national debt.  The people below did nothing to help me.] 

Governors:  Ed Rendell; Howard Dean

Politicians and political operatives: PA State Representatives Mark Mustio, Nick Kotic, and Jesse White; PA State Senators John Pippy and Jim Ferlo; Terry McAuliffe, former Chairman Democratic Congressional Campaign Committee and Chairman Democratic National Committee; The Democratic National Committee/Platform committee; The Pennsylvania Democratic Party; Jean Milko, former Chairwoman Allegheny County Democratic Committee; Jim Burn, former Chairman Allegheny County Democratic Committee; Tom Flaherty, former Chairman Allegheny County Democratic Committee 
The media: David Shribman, executive editor and vice-president, Greg Victor, nation/world editor, Reg Henry, editor, Susan Mannella, editor, Ruth Ann Dailey, Sally Kelson and Jack Kelly columnists Pittsburgh Post-Gazette; the entire editorial staff of the Pittsburgh Post-Gazette; Rush Limbaugh; Sean Hannity; Cenk Uygur; Fred  Honsberger; Jerry Bowyer; Mike Romigh; PBS News Hour; Nightline; NBC Nightly News; On The Record, Fox News; Alan Colmes; Bill O’Reilly; Jim Quinn; United Press International; Today Show, Dateline, NBC News; 2020 ABC News; 48 Hours, 60 Minutes, The Early Show, Evening News, CBS News; Chris Matthews, Hardball, MSNBC; Associated Press; Lou Dobbs; U.S. News and World Report; CNBC; Washington Post; Joe Scarborough; Time Magazine; LA Times; NY Times; Charles Showalter; Fox Report, Fox News; Newsweek Magazine; Ron Morris

Think tanks: Campaign for America’s Future, co-directors: Robert L. Borosage and Roger Hickey; Economic Policy Institute President: Larry Mishel and Vice-President, Ross Eisenbrey; Allegheny Institute: Jake Haulk, Larry Gamrat  

List of Recipients of my Correspondence, other Accomplices:

Federal Reserve Chairman, Ben Bernanke; U.S. Treasury Secretary, Tim Geithner; Alliance For Retired Americans; AARP; Penn State academics, University of Pittsburgh academics; Organized Labor; Moveon.org; Concord Coalition; Peterson Institute, Everyone connected with the book I.O.U.S.A. including David Walker; Democracy for America; Acting Director of the Office of Management and Budget, Jeffery Zientz; several high school teachers; U.S. Attorney Mary Beth Buchanan; U.S. Attorney David J. Hickton

This list does not contain many unsuccessful candidates for political office who received but ignored my correspondence.  This list does not contain the names of many activist groups to which I sent my web site/blog address in the form of an E-mail reply.  They all asked me for money.  But I gave them something more valuable instead.    They weren’t interested.


Congressman Murphy,

I take your worthless form letter response to my March 25, 2013 letter as a personal insult.  In two months, it will be NINE miserable years that I have been writing to you and dozens of other politicians, pundits and academics.  Politicians sure have a racket.  They steal our “trust fund” money, spend it, and tack the amount of the theft onto the national debt.  Then, they use the national debt as a “justification” attack social security, Medicare, Medicaid and the ability of the government to “promote the general welfare” of the American people.  Of course, this treachery assures generous “support” from Wall Street, the financial services “industry” and the private sector. 

Back in 1999, when the Democrats and the Republicans teamed up to deregulate the financial services “industry,” they had to know that eventually (2007/2008) this “mistake” (according to Alan Greenspan) would destroy the economy.  That, in turn, would “starve the beast.”  (Calling the government a beast is sedition according to my dictionary.)  Politicians are a lot of things, but they aren’t stupid.  They had to know that in 2013, the massive national debt and funding short falls (caused by the 1999 deregulation) in social security, Medicare and Medicaid would give them an “excuse” to continue the destruction of these vitally important government programs.  Who will benefit if the so-called social safety net is destroyed?  Wall Street and the insurance “industry” will benefit, of course.      

I wrote to the “Justice” Department to complain that you are stealing trust fund money and denying me my First Amendment right to “petition the government for the redress of grievances.”  Like you, they refused to address or even acknowledge my grievances.  Actually, you (and the “Justice” Department) are no different from all the other politicians who either ignored my letters, faxes, E-mails and phone calls or sent me worthless form letters.  President Obama has been using this tactic on me ever since I worked on his first election campaign.  I sent him a half dozen letters before he was ever elected, all of which he ignored.  It didn’t take me long to figure out whose side he is on, Wall Street, of course.


As long as you people can keep me isolated in the political wilderness, the American people will never know the full extent of the treachery committed by the people that they elected and their cronies in and out of government.  Many people blame “the government” for the country’s problems.  They are too stupid to blame the politicians who corrupt and discredit the excellent government that was given to us by the Founding Fathers and the Constitution.  And, let’s not forget the out of control private sector that gave us the, soon forgotten, 2007/2008 subprime mortgage disaster/global credit crisis and the rotten New Normal economy.


 I dare you to acknowledge Article 1, Section 8, Paragraph 5 of the U.S. Constitution.  That’s where Congress (not the Federal Reserve) is given the power to “coin money.”  The word coin also means create.  This fact became law in the Legal tender Act of 1862.  This is the law under which Congress authorized the U.S. Treasury to issue $449,338,902 worth of debt-free legal tender United States Notes (U.S. Notes or Greenbacks).  This increased the money supply by 25% with no inflation.  Unfortunately, Congress forced President Abraham Lincoln to sign the redundant and destructive National Bank Act of 1863.  Fortunately, for the bankers, President Lincoln’s plan to have the Act repealed after the end of the Civil War died with his assassination.

Surely you know that after President Lincoln’s murder, Congress reduced the amount of U.S. Notes to $300 million and that money remains an unissued part of our national money supply.  Of course, if Congress has the authority to lower the amount of debt-free currency in our money supply, they also have the power to RAISE the amount.  I debunked the insidious myth that a massive increase in the amount of debt-free United States Notes will cause inflation elsewhere on this blog.  And, “Helicopter Ben” Bernanke and central banks around the world vindicated my argument after 2007/2008 global credit crisis.

In order to prevent Congress from squandering the debt-free money on stupid things, I will tell you where the money should go.  1. All the money that has been stolen from all of the federal trust funds must be replaced with U.S. Notes.  2. The New Deal type “jobs bill” outlined in my February 11, 2012 blog Update, beginning with the ninth paragraph, must be implemented immediately.  3. Massive amounts of U.S. Notes must be sent directly to the Veterans Administration.  All of the veteran’s legitimate needs must be funded.  It is a national disgrace that charities have to be set up to help veterans.  Veterans served the government and the country.  Therefore, the government will take care of them with debt-free money.  Idiotic, artificial “budget constraints” will be a thing of the past.  4. NO CUTS will be made to social security, Medicare, Medicaid or pensions.  In fact, debt-free money funding will make it possible for all previous cuts to social security, Medicare, Medicaid and pensions to be rescinded.  5. U.S. Notes must be used to eliminate the budget deficit.  6. U.S. Notes must be used to start paying off the national debt.  These recommendations will have a significant positive effect on America’s fiscal, economic and social problems.

These recommendations are just a starting point.  Many other less pragmatic things can be done with debt-free money.  This was the vision that Presidents Abraham Lincoln and John F. Kennedy never lived to realize.  The time has come to throw the private sector caused and imposed austerity into the dust bin of history.  A United States Notes funded government can fix our fiscal, economic and social problems.  All we have to do is get the greedy, selfish, cruel, dangerous, unpatriotic and immoral private sector out of the way.  I know the conservatives will say “we don’t want the government picking winners and losers.”  I say, the private sector has been picking winners and losers for decades.  The winners are countries with inhumane, sweat shop economies (not to mention countries that, despite World War II atrocities, were favored because they advanced the global capitalist empire).  The losers are American workers and America itself.    Other winners are the useless non producers.  To avoid an endless, time consuming argument, I won’t name people or “occupations.”  I’ll just say, I’m sick of seeing economic parasites prosper while hard working producers suffer.

Well, Congressman Murphy, this is my rebuttal to your insulting form letter.  I dare you, or any other elected official, pundit, economist, academic or “educator” to tell me where I’m wrong.  I will put your rebuttal on this blog and we will debate the issues publicly.  Everything will be in the historical record.  Your legacy is waiting.

Ray Uhric  April 30, 2013