Saturday, May 7, 2011

Ray Uhric - former Democratic Candidate for the Pennsylvania House Of Representatives

2016 Presidential Candidacy Declaration.

In my last blog update (11-3-2013/11-13-2013), I said, “I am not running again for public office.”  Well, after the midterm Democratic Party election disaster, I have come to the conclusion that we a leadership problem in the Democratic Party.  Therefore, I feel it is my civic and patriotic duty to declare myself as a Democratic Party candidate for President of the United States.  Today, April 6, 2015, I learned that there are five declared Democratic Party candidates for president in 2016.  Hilary Clinton has not yet declared her candidacy.  None of the declared candidates are what I would consider nationally known politicians.  So my running for president really isn’t that outlandish.

In my two previous campaigns for public office, I despised asking for money.  As a result, my political activities have caused me spend thousands of dollars of my own limited financial resources.  Despite this, I will not ask for political contributions.  I will try to finance my campaign and my living expenses through the sale of my art.  I will accept contributions if they are offered but I will do no political fundraising.  Below is the main plank of my campaign platform:

I am running on a Full Employment (with just compensation and benefits), Low Tax, Low Debt, Debt-Free Money platform.
   
The main plank of my platform is a permanent U.S. Constitution-based (article 1, section 8, paragraph 5), debt-free monetary solution to federal, state and local government funding problems. My proposal will require no tax dollars or government borrowing.  Social security, Medicare, Medicaid, the Pension Benefit Guarantee Corporation (PBGC) and the Veterans Administration will all be fully funded and made permanently solvent using United States Treasury issued debt-free money.  This legal tender currency is called United States Notes or U.S. Notes. 

Today, government funding is such a disaster that several private sector charities are making television appeals for money for our wounded and disabled veterans.  Wounded and disabled veterans have become charity cases!  This is a national disgrace!  For years I have been badgering our democratically elected politicians telling them to use unlimited United States Treasury issued debt-free money to fund ALL of the needs of our veterans.  Tragically, I have been stonewalled and ignored by the dozens of politicians that I have contacted.  United States Notes are the same currency that was issued under Presidents Abraham Lincoln in 1862 and John F. Kennedy in 1963.  Incredibly, all of their debt-free currency was withdrawn from circulation by Congress after these great presidents were assassinated!  And, shamefully, Congress never again permitted the Treasury to issue debt-free money.  The result is an $18 trillion national debt.  When I first proposed issuance of debt-free money to more than a dozen politicians in June of 2004, the national debt was $7 trillion.  Since then, $11 trillion of unnecessary debt has been loaded on the backs of American taxpayers.

Despite the stupidity of Congress, $300 million of this debt-free money is currently an unissued part of our national money supply.  Under the authority of the Legal Tender Act of 1862, Congress can increase this $300 million to whatever amount is needed to solve America’s fiscal and economic problems.  The U.S. Notes can be put directly into the federal trust funds to replace the trillions of dollars that have been stolen since the federal budget was unified in 1969.  Treasury issued debt-free money is the perfect, legal and practicable solution to America’s fiscal and economic problems.  This link to the U.S. Treasury web site: U.S. Treasury - FAQ: Legal Tender Status of Currency will verify that what I say about United States Notes is true and based on existing law.

I have populist, AMERICA FIRST positions on all of the issues facing America, both domestic and foreign.  Most of my platform is already stated plainly on this web site.  As a presidential candidate, the politicians can no longer refuse to acknowledge my correspondence and throw my letters in the trash.  And, when I request an interview in the media, they will have no choice but to comply.  The “establishment” has refused to debate the issue of debt-free money with me for more than ten years.  So, in the spirit of reciprocity, I will refuse to debate any national or international issue until the issue of U.S. Treasury issued United Stated Notes is resolved.  My proposals for a U.S. Note funded full employment economy (outlined elsewhere on this web site) are inextricably linked to the debt-free money debate.  Thus, that will also be part of the debate.  Compare my no tax, no debt, full employment proposals on this web site with the pie-in-the-sky “jobs bills” that are proposed by Congress and the president.

This post will serve as my formal declaration of my intention to run for the office of President of the United States.  Because much of this web site was written for my 2006 and 2010 campaigns for the Pennsylvania General Assembly, some of the text is out of date.  However, nothing in my policy proposals has changed.   This web site will be reformatted and updated to be more timely and relevant for the 2016 presidential election.  In the meantime, I challenge all presidential candidates, any politician, any reputable pundit, any academic, any government or Federal Reserve official, any business leader and any banking spokesperson to find anything that is in error, illegal or impracticable on this web site.  (Typos don’t count.)  All legitimate rebuttals should be sent to PO Box 815, Coraopolis, PA 15108.


Ray Uhric                                                                                                                   April 6, 2015     

UPDATE 3/5/2011
THE TRUTH ABOUT SOCIAL SECURITY “REFORM”

The Republicans say social security must be cut in order to reduce the deficit.  But, by law, social security is prohibited from adding to the deficit.  The Democrats say the social security “trust fund” has a $2.5 trillion surplus, and the system can pay full benefits until 2027.  But, conservatives say that social security is a welfare program that costs taxpayers money.  It has been claimed that the Baby Boomers did not “prefund” their benefits.  What is the truth?

Back in 1970, in order to pay for the additional costs of the Vietnam War, politicians started raiding the social security system.  By 1979, the trust fund was $2 billion in the red.  When the Vietnam War ended, stagflation in the private sector economy during the 1970s became the major cause of the shortfall in social security funding.  The Reagan/Greenspan Commission “fixed” the problem by cutting benefits, making benefits taxable and raising the amount of the FICA payroll deduction.   

Today, as in the 1970s, war and a lousy private sector economy have pushed the social security trust fund back into the red.  Contrary to conservative and Republican disinformation, the problem isn’t that benefits are “too generous.”  The problem is that our economy doesn’t produce the revenue necessary to properly fund the social security system.  This isn’t the fault of the workers or the people collecting social security checks.  It is the fault of our political leaders, the business community and especially the banking “industry.”  The 2007/2008 financial crisis, the Great Recession, the wars, globalization of our economy and wealthy tax dodgers are the reasons for our fiscal and economic problems and the reason why social security is in the red. 

The law states that social security cannot add to the deficit.  If this is true, how can conservatives and Republicans say that social security must be cut to reduce the deficit?  There is a simple and infuriating answer to this question.  The $2.5 trillion that politicians have stolen from the trust fund has been replaced with government bonds (IOUs).  These bonds are a liability against the federal government.  In other words, the missing $2.5 trillion has been added to the national debt and the taxpayers are stuck with the bill!  We are told that “interest” will be paid on these government bonds.  But, it is actually the taxpayers who pay the interest out of their own money.

Liberals and Democrats claim that there is a $2.5 trillion trust fund “surplus.”  If this is true, why hasn’t money been taken from the so-called surplus to make up the shortfall when the trust fund went into the red?  Instead, money is taken from the government’s general revenue fund.  This gives social security-hating conservatives an excuse to denounce the system as a “government welfare program.” (It’s odd that conservatives don’t denounce the Banksters who caused the funding problem.)  To make matters worse, since government expenditures are partially funded with treasury debt, part of our social security benefits are being funded with money borrowed from China!  The trust fund doesn’t exist.  That’s the ugly truth.   All the money has been stolen and spent by the politicians.

The law states that the $2.5 trillion in government bonds will be “redeemed” with future tax revenues.  Taking more taxpayer’s dollars to cover up the theft does not replace the stolen money. It only perpetuates the theft.  The money must come from a source other than the victims of the theft.  Some of the money should come from the bank accounts and pay checks of the politicians who stole the money.  However, the only practicable source for this money is U.S. Treasury-issued, debt-free United States Notes.  I have been proposing this solution to our elected leaders for more than six and one half years.  The response has been stony silence.

Conservative and Republican actuaries claim that the “Baby Boomers did not prefund their social security benefits.”  This is sheer nonsense.  The Boomer’s benefits were prefunded by, at least, the $2.5 trillion that was stolen by the politicians.  Add to that, all the money that disappeared into the government’s general revenue fund prior to the 1983 Reagan/Greenspan commission.  And, remember, it was our globalized economy that caused the declining wages that robbed the Baby Boomers of the ability to totally prefund their social security benefits.   

The Wall Street money sponges lament the “low savings rate” of the American people.  The trillions of dollars stolen from the trust fund were the savings of the American people.  The law states that the IOUs will be “redeemed” with future tax revenue.  However, with a $1.4 trillion budget deficit and a $14.1 trillion national debt, it is patently impossible for the politicians, who are responsible for this enormous theft, to replace the stolen money.  This is why, when I asked my Congressman to explain why the politicians don’t simply replace the money raided from the trust fund, he said: “I would have to raise your taxes to do that.”  The Congressman now claims “he doesn’t remember saying that.”  Whether he remembers it or not, that statement is true.                   

There are budget crises at the local, state and federal levels.  This mess was caused by our political leaders.  In the name of free markets and deregulation, they let the Banksters and their cronies in the mortgage finance “industry,” spin totally out of control.  Now, everybody but the people who caused the problems have to pay the price for an “industry” that ran amuck.
That’s the truth.
…………………………………………………………..

Thus far, there has been no response from Senator Pat Toomey, Fed Chairman Ben Bernanke, Treasury Secretary Timothy Geithner, MoveOn.Org or Democracy for America.

UPDATE 2/25/2011

My December 10, 2010, letter to Senator Pat Toomey has remained unacknowledged.  I called his Washington, DC, office and explained that I wanted a response to my letter before I put it up on this web site.  On February 6, 2011, I sent an E-mail copy of the letter to Senator Toomey’s DC office.  The next day, I called the office and confirmed that they had received the E-mail.  As of February 25, 2011, I have received neither a letter nor an E-mail from Senator Toomey’s office. 

The December 9, 2010 E-mail replies that I sent to MoveOn.org and DemocracyForAmerica have also remained unacknolwedged.

Below is a copy of the E-mail that I sent to Senator Toomey's office:

February 6, 2011


Dear Senator Toomey,

On December 11, 2010, I mailed a letter (see below) to your Club for Growth address.  I wanted the letter to be forwarded to your Senate office in order to be among the first citizens to contact you.  I called the Club for Growth and your Washington office.  I was assured by both offices that you would, eventually, get my letter.  As of February 3, I have received no response.  For this reason, I am sending you a copy of the December 10, 2010, letter via E-mail.  Please respond as soon as possible.  I will put my letter and your response on my web site rayuhric.blogspot.com so that the public can judge the merits of our respective arguments.  If you disagree with my position, I will put my rebuttal to your letter or E-mail on my web site.  I expect and welcome a lively debate.

The public has a right to know that there are legal, United States Constitution based, alternatives to the painful austerity that the Republicans (and their Democratic allies) plan to impose on the American people.  America’s current fiscal and economic problems are the result of the reckless greed and fraud of the financial “industry” as well as the irresponsible actions of their cronies in our government.  I intend to bring the whole truth about our current fiscal and economic problems to the attention of the American people.
Ray Uhric
……………………………………………………………..
December 10, 2010
Club for Growth
2001 L Street, NW, Suite 600
Washington, DC 20036

Dear Senator-Elect Toomey:
For several years, I have been trying to provoke a public debate regarding the subject of United States Treasury issued debt free money.  This legal tender currency is called United States Notes, also known as Greenbacks.  Despite my best efforts, for six and one half years, none of my elected representatives would address this issue.  Now that you are my representative, I will ask you to address the issue.
Below are two excerpts from my web site, rayuhric.blogspot.com :

How could Congress give up its enumerated power to issue debt free money without a Constitutional Amendment?  This power was given to Congress in Article One, Section Eight, Paragraph Five of the United States Constitution.  The Constitution did not give this power to the Federal Reserve, a privately owned Central Bank.  The creation of the Federal Reserve in 1913 is a national scandal that is vividly exposed by our $14 trillion national debt.

[Please explain] why we have a $14 trillion national debt when our Constitution provides a mechanism for the U.S. Treasury to issue debt free moneyThis fiscally responsible, and legal, monetary policy was instituted by Presidents Abraham Lincoln and John F. Kennedy.  Unfortunately, after they were assassinated, their debt free monetary policies were reversed by the combined efforts of Congress and President Ronald Reagan.

Please address the above questions point-by-point.

The articles on my web site present a direct challenge to the “Club for Growth” economic policies that you represent.  This is why I respectfully invite you to debate economic policy on my web site.  I am prepared, and eager, to defend my position.  We have both taken oaths to uphold the United States Constitution.  (I took my oath when I enlisted in the military.)  The Constitution requires elected officials to “promote the general welfare of” and “ensure the domestic tranquility” of the American people.  The policy proposals on my web site are designed to advance those hallowed objectives.  The purpose of the debate that I propose to you is to establish whose policies best conform to that Constitutional mandate. 

As an elected official, you are no longer a member of the private sector. You are part of the federal government.  You are required, by law, do what is best for the country.  The desires of Wall Street and the financial services “industry” are irrelevant to your job.  America can no longer afford the “free market” blunders that have brought us to the point of economic and financial ruin.  
I await your timely reply.  Thank you.

Ray Uhric
………………………………………….

Please contact Senator Toomey and ask him why he has never addressed the issue of United States Treasury issued debt free money.  Ask him to give me a point by point response to my correspondence so I can put it on this web site.         
Senator Pat Toomey’s Washington contact: 
B-40B Dirksen Senate Office Building                              
Washington, D.C. 20510                                

Phone: (202) 224-4254                                 
Fax: (202) 228-0284                                            
…………………………………………

Below is a copy of the E-mail that I sent to MoveOn.Org and Democracy for America:
Please check out my web site: rayuhric.blogspot.com .  Tell me what you think of my economic and monetary reform ideas.  I believe the only way we are going to fix America's fiscal and economic problems is to follow the example of Presidents Abraham Lincoln and John F. Kennedy.  I explain it all on my web site. 

Please respond to this e-mail.  I'm trying to find people with the courage to stand with me.
Thanks.                        
Ray Uhric
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I invite the visitors to this web site to scroll down the page and read the essays that I wrote as my campaign platform.  In these essays, I address and offer solutions to a wide range of issues and problems.  This invitation is especially extended to Senator Pat Toomey, MoveOn.org and Democracy for America.

Some of the topics covered in my essays include: Lowering Taxes; Reducing Government Spending; Making Social Security, Medicare, Medicaid and Pensions Permanently Solvent; Affordable Healthcare; Building a Strong Economy; Rebuilding American Manufacturing; The National Debt and The Legal Justification for Lincoln/Kennedy Monetary Reform

PLEASE NOTE: I would like to apologize to everyone who tried to link to the U.S. Treasury Department web site from the essays on this web site and were denied access.  Because changes were made to the Treasury web site, my links were effectively disabled.  Modifications to this web site have now been made in order to restore access to this vitally important information.  In the event my links become disabled again, the relevant Treasury information is transcribed below.  For convenience, I have highlighted the parts of the articles that I think are particularly important.

What are United States Notes and how are they different from Federal Reserve notes?

United States Notes (characterized by a red seal and serial number) were the first national currency, authorized by the Legal Tender Act of 1862 and began circulating during the Civil War. The Treasury Department issued these notes directly into circulation, and they are obligations of the United States Government. The issuance of United States Notes is subject to limitations established by Congress. It established a statutory limitation of $300 million on the amount of United States Notes authorized to be outstanding and in circulation. While this was a significant figure in Civil War days, it is now a very small fraction of the total currency in circulation in the United States.

Both United States Notes and Federal Reserve Notes are parts of our national currency and both are legal tender. They circulate as money in the same way. However, the issuing authority for them comes from different statutes. United States Notes were redeemable in gold until 1933, when the United States abandoned the gold standard. Since then, both currencies have served essentially the same purpose, and have had the same value. Because United States Notes serve no function that is not already adequately served by Federal Reserve Notes, their issuance was discontinued, and none have been placed in to circulation since January 21, 1971.

The Federal Reserve Act of 1913 authorized the production and circulation of Federal Reserve notes. Although the Bureau of Engraving and Printing (BEP) prints these notes, they move into circulation through the Federal Reserve System. They are obligations of both the Federal Reserve System and the United States Government. On Federal Reserve notes, the seals and serial numbers appear in green.

United States notes serve no function that is not already adequately served by Federal Reserve notes. As a result, the Treasury Department stopped issuing United States notes, and none have been placed into circulation since January 21, 1971. 

 Last Updated: 1/4/2011 4:47 PM
[The first sentence of the last paragraph may be an inside joke at the Treasury Department and the Federal Reserve.  It is true that United States Notes and Federal Reserve Notes serve the same function as legal tender.  However, there is a massive difference in their effect on our national monetary system.   The use of Federal Reserve Notes has produced a $14 trillion national debt.  Conversely, the use of United States Notes would produce no debt whatsoever.  This fact exposes an explosive truth that is suppressed by our politicians:  The article below clearly states that Federal Reserve Notes are backed by “United States securities.”  Those “securities” are our $14 trillion national debt.  This means that, under the Federal Reserve System, we can’t pay off the national debt because that would wipe out our national money supply!  This is why politicians never talk about paying off the national debt.  They only talk about making “painful cuts and sacrifices” so they can give more of our tax dollars to the Bond Vigilantes.   Ray Uhric]  



What are Federal Reserve notes and how are they different from United States notes?

Federal Reserve notes are legal tender currency notes. The twelve Federal Reserve Banks issue them into circulation pursuant to the Federal Reserve Act of 1913. A commercial bank belonging to the Federal Reserve System can obtain Federal Reserve notes from the Federal Reserve Bank in its district whenever it wishes. It must pay for them in full, dollar for dollar, by drawing down its account with its district Federal Reserve Bank.
Federal Reserve Banks obtain the notes from our Bureau of Engraving and Printing (BEP). It pays the BEP for the cost of producing the notes, which then become liabilities of the Federal Reserve Banks, and obligations of the United States Government.

Congress has specified that a Federal Reserve Bank must hold collateral equal in value to the Federal Reserve notes that the Bank receives. This collateral is chiefly gold certificates and United States securities. This provides backing for the note issue. The idea was that if the Congress dissolved the Federal Reserve System, the United States would take over the notes (liabilities). This would meet the requirements of Section 411, but the government would also take over the assets, which would be of equal value. Federal Reserve notes represent a first lien on all the assets of the Federal Reserve Banks, and on the collateral specifically held against them.

Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything.  This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy.


………………………………………………..

In February 14, 2011, I sent letters (below) to Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner.  These letters, like my letter to Senator Pat Toomey, had to do with U.S. Treasury-issued debt-free money.  This legal tender currency is called United States Notes, sometimes referred to (since 1862) as Greenbacks.  I had planned to wait two weeks or more to put these letters up on this web site.  However, the incomplete public debate over cuts to social security and raising the national debt ceiling has convinced me that I must engage in this debate as soon as possible.  The public debate regarding entitlement “reform,” the national debt and government spending is shot through with half truths, false choices and lies.

It might seem odd that a populist like me would write to these two pillars of capitalism and expect a positive response.  However, Chairman Bernanke and Secretary Geithner are highly intelligent and very knowledgeable with regard to financial and economic matters.  Although they are much maligned, often unfairly, I respect their competency.  They are both doing their best, within the restrictions of mainstream Keynesian thinking, to fix the economic and fiscal mess that they inherited.

Hopefully, my letters will convince them that neither Keynesian debt-based economic stimulus nor draconian supply side pain and austerity will fix America’s fiscal and economic problems.  I recommend that they follow the brilliant and courageous example of Presidents Abraham Lincoln and John F. Kennedy.  The monetary reforms proposed on this web site are their ideas, not mine.  The historical record validates their ideas and proves that they have worked in the past.

The American economy is being starved of money.  (Banks and corporations are sitting on trillions of dollars cash.)  It is preposterous to say putting debt free money into the trust funds will cause inflation.  Increased social security, Medicare, Medicaid and pension benefits along with debt free money injected into the community banking system is exactly the economic stimulus that America needs.  The problem with the American economy is that there is too much debt and not enough money, real money that isn’t based on government debt.         

Social security, Medicare, Medicaid, the Pension Benefit Guarantee Corporation, the Veterans Administration, NASA, schools, hospitals, firefighters, police, the military, government oversight and inspection agencies, the border patrol, government research facilities, libraries, social workers, public transportation, infrastructure, small businesses, state and local budgets and other important government functions all need money.  Do we raise taxes?  No.  Do we get America deeper in debt by borrowing from the capital markets?  No.  We must do the smart thing and look to the Constitution for a way out of this fiscal train wreck.  If debt free money made sense to Presidents Abraham Lincoln and John F. Kennedy, it should make sense to President Barack Obama.

Ben S. Bernanke, Chairman                                                                                      
Federal Reserve Board of Governors                                                               
1709 New York Ave. N.W.                                                                            
Washington, DC, 20006

PO Box 815
Coraopolis, PA 15108
February 3, 2011

Dear Chairman Bernanke,
I enjoyed your February 9, 2011, testimony before the House Budget Committee.  It was very informative.  As you know, the 2007-2008 global financial crisis was a result of the collapse of housing prices and the consequent destruction of the value of residential mortgage-backed securities.  This $2 trillion loss of collateral destroyed the capital reserves necessary for the global financial system to function.  The result was the worldwide Great Recession.  Government stimulus money, low interest rates and quantitative easing have only partially restored the health of the American economy.  The $1.4 trillion budget deficit and the $14 trillion national debt make our long-term and even our short-term economic prospects uncertain at best.
You stated in your Budget Committee testimony that with “maximum monetary policy accommodation,” at our current rate of economic growth (3.2 percent), it could take five to ten years to return to a normal economy and full employment. May I suggest a more direct form of economic stimulus?

Currently, the Federal Reserve increases or decreases the amount of money in our banking system by buying or selling federal government debt.  The flawed nature of this fractional reserve, debt-based monetary system became all too evident during the 2007-2008 global financial crisis.

Since June of 2004, I have been promoting the use of Constitution-based, Treasury-issued, debt-free money. This legal tender currency is known as United States Notes (Greenbacks.)  U.S. Notes can be a supplemental money supply that can reduce government borrowing, fund public works, stimulate the economy and create jobs.  I explain how this can be done in detail on my web site: rayuhric.blogspot.com .
The historical record contains two examples of the issuance of debt-free money:  Using the authority of Article one, Section eight, Paragraph five of the United States Constitution and the Legal Tender Act of 1862, President Abraham Lincoln instructed Congress to authorize the issuance of $449,338,902 of debt- free United States Notes.  This increased the money supply by 25% but caused no inflation.  After Lincoln was assassinated, his debt-free monetary reform was reversed by Congress.  As you know, the Federal Reserve did not exist in 1862. 

The 1963 Executive Order 11110 of President John F. Kennedy authorized the U. S. Treasury to issue $4 billion of debt-free United States Notes (silver certificates).  Unfortunately, after President Kennedy was assassinated, this currency was quickly withdrawn from circulation.  Over the years, Kennedy’s debt-free monetary policies were reversed by the combined efforts of Congress and President Ronald Reagan.
A quick Internet search of the U.S. Treasury Department web site: U.S. Treasury - FAQ: Legal Tender Status of Currency will reveal some startling facts:  Legal tender, debt-free United States Notes (Greenbacks) were our national currency for 51 years before the Federal Reserve and Federal Reserve Notes came into existence.  United States Notes are interchangeable with Federal Reserve Notes.  United States Notes and Federal Reserve Notes have exactly the same value.  $300 million of United States Notes are currently part of our national money supply.  The original issuance of $449,338,902 was reduced by Congress to $300 million and frozen at that level.  This money can be immediately issued by the Treasury and put into circulation.  The amount of U. S. Notes that can be issued by the Treasury is determined by Congress.  The implications of this fact are staggering.  Congress can immediately increase our money supply by 25% (per the Legal Tender Act) as was authorized by Abraham Lincoln in 1862.  This would be a $2 trillion economic stimulus that would require no tax increase and no borrowing from the financial markets.  If this is true, and it is, why do we have a $14 trillion national debt?

I am well aware of the mainstream economic textbook objection that increasing our money supply with Treasury-issued U.S. Notes would be inflationary.  I reject this notion for the following reasons:  The commonly held belief that more dollars in circulation decreases the value of our money is invalid.  Money is not a commodity like wheat, soy beans, oil or gold.  The dollar is a medium of exchange, legal tender, (actually just paper) with no intrinsic value.  It is the law that gives the dollar its value and that law is based on the United States Constitution:  Congress shall “coin money and regulate the value thereof.”  Thus, the size of our money supply has no bearing on the value of our currency.  The size of our money supply, by law, should be set by our government based on the needs of the American people and a just economic system.  An objective reading of the relevant passage of the Constitution will debunk the notion that currency speculators have a legal right to determine the size and value our national money supply.  When politicians force the American people to be subject to the arbitrary dictates of the currency markets, they are ignoring the Constitution.            

Also, trillions of (debt-based) dollars were poured into our financial system by the Federal Reserve to recapitalize our banks.  Despite the dire predictions, there was no significant inflation. 

Two and one half trillion dollars has been stolen from the social security trust funds.  With a $1.4 trillion budget deficit and a $14 trillion national debt, it is patently impossible for the politicians responsible for this enormous theft to replace the stolen money.  The politicians claim they will “replace” the raided money using future tax revenue. Taking more taxpayer’s dollars to cover up the theft does not replace the stolen money. It only perpetuates the theft.  The money must come from some source other than the victims of the theft.  Some of the money should come from the bank accounts of the politicians who stole the money.  However, the only practicable source for this money is Treasury-issued United States Notes. 

Chairman Bernanke, I know that the debt-free economic stimulus that I propose will not be welcomed by the financial markets.  However, selfish interests must be set aside in the interest of the fiscal wellbeing of our nation.  You, along with Treasury Secretary Timothy Geithner, are responsible for the health of our monetary system.  I believe it is your duty to seriously consider Constitution-based monetary reform.  The wisdom Abraham Lincoln and John F. Kennedy, in this regard, is irrefutable. 

 In 1996, a researcher named Bill Still (The Money Masters) warned of the dangers of our fractional reserve banking system.  He predicted a global financial crisis and a massive worldwide recession when the capital reserves of the financial services “industry” evaporated.  That is exactly what happened in 2007/2008.  He called for debt-free U.S. Notes to be injected into the money supply as a backstop against financial disaster.  He was ignored, and the rest is history.  In 1996 the national debt was $5.55 trillion.

In 2004, I began writing to politicians, the media and academia promoting the use of debt-free money.  I was ignored.  In 2004, the national debt was $6.67 trillion.  In 2006 I ran for public office on a debt-free money platform.  I lost.  In 2006, the national debt was $7.56 trillion.  In 2010, I ran again and lost again.  In 2010, the national debt was $13.8 trillion.  Today the national debt is $14.1 trillion.  Treasury-issued, debt-free United States Notes is the only solution for the looming debt crisis.  Please heed the example and wisdom of Presidents Abraham Lincoln and John F. Kennedy.  Thank you for your timely reply.
[I am sending a letter similar to this one Treasury Secretary Timothy Geithner]   Ray Uhric
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Timothy F. Geithner, Secretary                                                                           
Department of the Treasury                                                                                
1500 Pennsylvania Ave.                                                                                      
Washington DC, 20220

PO Box 815
Coraopolis, PA 15108
February 13, 2011

Dear Secretary Geithner,
 As a senior citizen on social security and Medicare, I am extremely alarmed to hear politicians in Washington say things like: “We must cut ‘entitlements,’ and inflict pain and austerity on the American people in order to service our $14 trillion national debt.”  Looking at the debt problem logically, I would think that the politicians who borrowed the money should be liable for the repayment. 

 A more plausible solution to our national debt crisis is proposed in a letter that I sent to Federal Reserve Chairman Bernanke on February 13, 2011.  For convenience, I will excerpt the Bernanke letter below:
As you know, the 2007-2008 global financial crisis was a result of the collapse of housing prices and the consequent destruction of the value of residential mortgage-backed securities.  This $2 trillion loss of collateral destroyed the capital reserves necessary for the global financial system to function.  The result was the worldwide Great Recession.  Government stimulus money, low interest rates and quantitative easing have only partially restored the health of the American economy.  The $1.4 trillion budget deficit and the $14 trillion national debt make our long-term and even our short-term economic prospects uncertain at best.
 Currently, the Federal Reserve increases or decreases the amount of money in our banking system by buying or selling federal government debt.  The flawed nature of this fractional reserve, debt-based monetary system became all too evident during the 2007-2008 global financial crisis.

 Since June of 2004, I have been promoting the use of Constitution-based, Treasury-issued, debt-free money. This legal tender currency is known as United States Notes (Greenbacks.)  U.S. Notes can be a supplemental money supply that can reduce government borrowing, fund public works, stimulate the economy and create jobs.  I explain how this can be done in detail on my web site: rayuhric.blogspot.com .
The historical record contains two examples of the issuance of debt-free money:  Using the authority of Article one, Section eight, Paragraph five of the United States Constitution and the Legal Tender Act of 1862, President Abraham Lincoln instructed Congress authorize the issuance of $449,338,902 of debt-free United States Notes.  This increased the money supply by 25% but caused no inflation.  After Lincoln was assassinated, his debt free monetary reform was reversed by Congress.

The 1963 Executive Order 11110 of President John F. Kennedy authorized the U. S. Treasury to issue $4 billion of debt-free United States Notes (silver certificates).  Unfortunately, after President Kennedy was assassinated, this currency was quickly withdrawn from circulation.  Over the years, Kennedy’s debt-free monetary policies were reversed by the combined efforts of Congress and President Ronald Reagan.
A quick Internet search of the U.S. Treasury Department web site: U.S. Treasury - FAQ: Legal Tender Status of Currency will reveal some startling facts:  Legal tender, debt-free United States Notes (Greenbacks) were our national currency for 51 years before the Federal Reserve and Federal Reserve Notes came into existence.  United States Notes are interchangeable with Federal Reserve Notes.  United States Notes and Federal Reserve Notes have exactly the same value.  $300 million of United States Notes are currently part of our national money supply.  The original issuance of $449,338,902 was   reduced by Congress to $300 million and frozen at that level.  This money can be immediately issued by the Treasury and put into circulation.  The amount of U. S. Notes that can be issued by the Treasury is determined by Congress.  The implications of this fact are staggering.  Congress can immediately increase our money supply by 25% (per the Legal Tender Act) as was authorized by Abraham Lincoln in 1862.  This would be a $2 trillion economic stimulus that would require no tax increase and no borrowing from the financial markets.  If this is true, and it is, why do we have a $14 trillion national debt?

I am well aware of the mainstream economic textbook objection that increasing our money supply with Treasury-issued U.S. Notes would be inflationary.  I reject this notion for the following reasons:  The commonly held belief that more dollars in circulation decreases the value of our money is invalid.  Money is not a commodity like wheat, soy beans, oil or gold.  The dollar is a medium of exchange, legal tender, (actually just paper) with no intrinsic value.  It is the law that gives the dollar its value and that law is based on the United States Constitution:  Congress shall “coin money and regulate the value thereof.”  Thus, the size of our money supply has no bearing on the value of our currency.  The size of our money supply, by law, should be set by our government based on the needs of the American people and a just economic system.  An objective reading of the relevant passage of the Constitution will debunk the notion that currency speculators have a legal right to determine the size and value our national money supply.  When politicians force the American people to be subject to the arbitrary dictates of the currency markets, they are ignoring the Constitution. 

Also, trillions of (debt-based) dollars were poured into our financial system by the Federal Reserve to recapitalize our banks.  Despite the dire predictions, there was no significant inflation.

Two and one half trillion dollars has been stolen from the social security trust funds.  With a $1.4 trillion budget deficit and a $14 trillion national debt, it is patently impossible for the politicians responsible for this enormous theft to replace the stolen money.  The politicians claim they will “replace” the raided money using future tax revenue. Taking more taxpayer’s dollars to cover up the theft does not replace the stolen money. It only perpetuates the theft.  The money must come from some source other than the victims of the theft.  Some of the money should come from the bank accounts of the politicians who stole the money.  However, the only practicable source for this money is Treasury-issued United States Notes.

Secretary Geithner, I know that the debt-free economic stimulus that I propose will not be welcomed by the financial markets.  However, selfish interests must be set aside in the interest of the fiscal wellbeing of our nation.  You, along with Federal Reserve Chairman Ben Bernanke, are responsible for the health of our monetary system.  I believe it is your duty to seriously consider Constitution-based monetary reform.  The wisdom Abraham Lincoln and John F. Kennedy, in this regard, is irrefutable.

In 1996, a researcher named Bill Still (The Money Masters) warned of the dangers of our fractional reserve banking system.  He predicted a global financial crisis and a massive worldwide recession when the capital reserves of the financial services “industry” evaporated.  That is exactly what happened in 2007/2008.  He called for debt-free U.S. Notes to be injected into the money supply as a backstop against financial disaster.  He was ignored, and the rest is history.  In 1996 the national debt was $5.55 trillion.

In 2004, I began writing to politicians, the media and academia promoting the use of debt free money.  I was ignored.  In 2004, the national debt was $6.67 trillion.  In 2006 I ran for public office on a debt-free money platform.  I lost.  In 2006, the national debt was $7.56 trillion.  In 2010, I ran again and lost again.  In 2010, the national debt was $13.8 trillion.  Today, the national debt is $14.1 trillion.  Treasury-issued, debt-free, United States Notes is the only solution for the looming debt crisis.  Please heed the example and wisdom of Presidents Abraham Lincoln and John F. Kennedy.  Thank you for your timely reply.

                                                                                 Ray Uhric
                                                                      
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UPDATE 12/12/2010

Yesterday, I renewed my letter writing campaign to our elected representatives.  I am also resuming my efforts to make contact with the media, academia and progressive activist organizations such as MoveOn.Org, Democracy for America, AARP and Alliance for Retired Americans.  I have also resumed writing to conservative talk show hosts and members of conservative organizations such as the Peter G. Peterson Foundation and The Concord Coalition.  Over the last six and one half years, this effort has been a complete waste of time.  The biggest frustration is not getting a response.  The vast majority of my correspondence is never even acknowledged.  Plausible deniability seems to be the order of the day.

On December 9, 2010, I sent an e-mail reply to MoveOn.Org and Democracy for America.  On December 11, 2010, I mailed a letter to Senator-Elect Pat Toomey at his Club for Growth address.  As a courtesy, I will wait a reasonable amount of time for a response before I put the contents of my correspondence on this web site.  I will also list all the recipients of my correspondence.     

The Left wrings its hands about pain and threats to our social safety net while the Right demands pain and the destruction of our social safety net.  Supposedly, the Left/Right debate is about the dangers of our exploding national debt.  But nobody will dare talk about the only possible solution to the problem: U.S. Treasury issued debt free money.  It seems like, when it comes to any discussion of real economic and monetary reform, Wall Street and the financial markets have clamped a muzzle on our constitutionally guaranteed Free Speech.

We must have an open, objective and honest public debate before Wall Street and the financial markets push America over the edge into financial ruin.

POST ELECTION PLAN AND OBJECTIVES

I would like to thank all of the people who voted for me and supported my campaign.  I am disappointed that I lost the election.  But, I am more disappointed because the loss is a setback to my efforts to tell the American people about United States Constitution-based economic and monetary reform.

I had hoped that, as an elected official, my letters to politicians, pundits, academics and the media would be answered.  It looks like I am again staring at the same stonewall of silence that has frustrated me for six and one half years.  But I will not give up.  I will continue my efforts to get the politicians to publicly explain why we have a $14 trillion national debt when our Constitution provides a mechanism for the U.S. Treasury to issue debt free moneyThis fiscally responsible, and legal, monetary policy was instituted by Presidents Abraham Lincoln and John F. Kennedy.  Unfortunately, after they were assassinated, their debt free monetary policies were reversed by the combined efforts of Congress and Ronald Reagan. 

I want the politicians to put their explanations into the public record by way of this web site.  I tried to get them to do this on my old web site.  But all my effort came to nothing because no politician would dare to touch this issue.  I will try again with this new web site.

I have been warning people for years that the “bond vigilantes” (bond market investors) are a threat to the standard of living of the vast majority of the American people.  The bond vigilantes are also a threat to the fiscal solvency of our nation. 

Now, the president’s “deficit Commission” is putting its cards on the table, so to speak.  The commission is demanding more pain from the American people to satisfy the greed of the bond market investors.  Aided and abetted by politicians, the bond market investors are perpetrating a brutal financial shakedown of the American people.  This is nothing but economic blackmail.  And the last time I checked, extortion is still a crime.  Is this the reason the politicians, for six and one half years, refuse to publicly debate the debt free money issue with me?

The First Amendment to the Constitution gives me the right “to petition the Government for a redress of grievances.” For six and a half years, the politicians have denied me this right.  I will soon send another formal letter to our elected representatives asking this question:

How could Congress give up its enumerated power to issue debt free money without a Constitutional Amendment?  This power was given to Congress in Article one, section eight, paragraph five of the Constitution.  The Constitution did not give this power to the Federal Reserve.  The creation of the Federal Reserve in 1913 is a national scandal that is vividly exposed by our $14 trillion national debt.

The Constitution charges our government with the responsibility to “promote the general welfare” of the American people.  The politicians ignore this responsibility when they put the American people at the mercy of the greedy, selfish, irresponsible bond vigilantes.  When it comes to economic policy and monetary theory, we are fed a steady diet of half truths, false choices and lies.

Every day, our Wall Street controlled politicians are frantically warning us of the dire consequences of our $14 trillion national debt.  They demand pain and austerity from the people who can least afford it.  And yet, they willfully ignore the Constitution based solution to the national debt problem.  For six and one half years I have been demanding a public explanation for this outrageous extortion of the American people.  The silence is deafening.

The American people must demand an end to the financial market shakedown of our tax dollars.  The time has come for us to stop letting Wall Street play us for suckers.

Ray Uhric                                                                                 December 7, 2010


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Ray Uhric
for State House
CAMPAIGN UPDATE
Today is October 28, 2010.  There are only six days left until the election.  I have some final thoughts about my campaign.  I’m sorry that I didn’t have time to write articles on all the issues I listed on the home page of this web site.  Healthcare, taxes and social security were at the top of the list, so I made sure I covered them.

My opponent, Representative Mark Mustio and state Senator John Pippy, are having their annual “Senior Expo” at the Crown Plaza Hotel here in Moon Township, with free food and flu shots.  Needless to say, I don’t have the money to match a vote-getting operation like that.  Representative Mustio claims to be a cost cutting, fiscal conservative.  I wonder how much of this expensive party was paid for with tax dollars. 

Attendees of  the Expo are offered advice about financial planning, health care and insurance.  Does the fact that Representative Mustio inherited an insurance business that represents twenty three insurance and finance companies cause a conflict of interest with his duty as a representative of the people of the 44th legislative district?

I have a good reason for asking this question.  My Medicare supplemental insurance premium was raised 45% in 2010.  I personally know a woman whose supplemental insurance premium, in 2010, exploded by 150%!  This is on top of significant increases in co-pays and prescription drugs.  Seniors, like me, received no increase in our social security benefit because we are told “there is no inflation.”  Factor in higher prices for food and gasoline and it is easy to see why seniors on fixed incomes are struggling.

If I am elected, I will tear into these issues because I have empathy for struggling older people.  Can Representative Mustio say the same?  As a representative of the insurance and finance industry, will he fight to lower the cost of health insurance for his constituents knowing that this might lower his profit margin?  How will those twenty three companies react if he fights hard to lower the healthcare costs for senior citizens?

There is no guarantee, of course, that I will win this election.  If Mr. Mustio remains my representative, can I depend on him to fight to lower my healthcare costs?  What will he do about a 150% increase in a healthcare premium?  These questions lead to this question: is his position as an insurance company representative in conflict with his duty as a state Representative?  Mr. Mustio, the cost cutter, has offered to pay for his state- provided insurance as well as his state car and cell phone.  Considering his personal circumstances, this offer is laughable.

Mr. Mustio likes to talk about reducing the size of the Legislature.  If a good bill to reduce the size of the legislature comes to the floor, I will vote for it.  This issue is a great vote getter during a campaign.  But, Mr. Mustio admitted in a recent radio interview, that even with a Republican controlled legislature, the chance of passing legislation to reduce the size of the legislature is remote at best.  He likes to talk about what he will cut from government.  But, remember, cutting jobs and wages will only make the recession worse.

I take the opposite approach.  As I have explained in detail on this web site, we can stimulate the economy and have prosperity by following the example of Presidents Abraham Lincoln and John F. Kennedy.  They used Article 1, section 8, paragraph 5 of the United States Constitution as  their guiding economic principal.  If they had lived, we would never have a thirteen trillion dollar national debt and a debt enslaved national economy.

I won’t reiterate the economic and monetary reforms that I propose elsewhere on this web site.  I will simply say they are legal, they will work and the historical record bears witness to the truth of this statement.  I sent letters outlining my economic and monetary reforms to both Representative Mark Mustio and State Senator John Pippy.  I explained how we can use U.S. Treasury issued debt free money to make social security, Medicare and the Pension Benefit Guarantee Corporation permanently solvent.  I also explained how this money could be used to lower taxes, reduce the national debt and stimulate the economy. 

Mr. Pippy forwarded my letter to Senator Arlen Specter who never responded.  Mr. Mustio never answered my letter.  This stonewalling is the reason I decided to run for public office.  
The current economic thinking is to impose cuts and austerity on us so that our government debt will be more attractive to foreign investors.  Workers must take pay and benefit cuts in order to be competitive with the cheapest slave labor that the world has to offer.  This is rubbish.  Clear alternatives to this economic doomsday are outlined on this web site.

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I have received policy questionnaires in the mail from every interest group imaginable.  I apologize to all those that never received a response from me.  I simply did not have the time to respond to all of them.  Responding to some would slight the ones I omitted, so I left most of them unanswered.  Questionnaires are problematic for me.  I don’t want to make promises that I can’t keep.  Legislation is not cut and dried like questionnaires.  Legislation takes the form of complex documents that may or may not reflect my position close enough to warrant my vote.    My ideas are clearly detailed on this web site. 

Although I am running a state office, I plan to attack the problems facing the people in the 44th legislative district whether they originate in Harrisburg or Washington.  I’ve had enough experience with Washington politicians to know that if I can’t depend on them, I will have to depend on myself.       

I am not a career politician.  I am a retired aircraft technician.  I have worked as a welder, steelworker and a factory laborer.  I am on social security, Medicare and my pension, abandoned by my employer, is in the Pension Benefit Guarantee Corporation.  I am a typical taxpaying citizen.  However, I may be atypical in that I have devoted many years of study to understanding how economics, monetary theory and public policy affect the lives of ordinary citizens and the government.  If I am elected, I will put this knowledge to good use.

Please vote for me next Tuesday.




Ray Uhric - Candidate For PA General Assembly 44th District - 2010


  • Veteran Of the U.S. Navy
  • Born and raised in the Pittsburgh region
  • Former steelworker
  • Retired USAirways aircraft maintenance technician
  • Endorsed by the Allegheny County Labor Council

Priorities:
  • Reducing taxes
  • Reducing government expenses
  • Building a strong economy with well-paying jobs
  • Strengthening small businesses
  • Ensuring affordable health care for all workers and their families
  • Enacting sensible energy policies

If elected on November 2, Ray Uhric will work vigorously for  a sound stable economy in the 44th District, and in all of Pennsylvania .

PLEASE SUPPORT MY CAMPAIGN
My economic and monetary reform proposals to make social security, Medicare and the Pension Benefit Guarantee Corporation permanently solvent can be successful.  The only requirement is the political will.  These reforms can also lower taxes, reduce government debt and lower unemployment.  Some people may say these are national issues, however, they affect every person in Pennsylvania’s 44th Legislative District. 

As an elected official, I will have free access to the media.  And, I will take advantage of an existing State legislative mechanism that will put my reform proposals on the table for the United States Congress.  The public debate regarding economic policy is incomplete until the American people are made aware of the Constitutional provisions regarding United States Treasury issued debt free money.

If you would like to support my campaign as a volunteer, with a yard sign or a financial contribution, please contact me at
Committee to Elect Ray Uhric
P O Box 815
Coraopolis, PA 15108 - 0815
Thank You




A message for the voters in the 44th Legislative District

I have begun a door to door campaign of talking to the voters. I am asking each voter to share with me their concerns and what they expect from their elected representative. I have a list of issues that I ask each voter to rank in order of importance. When I have collected a representative sampling of the voter's opinions, I will address each issue on this web site. I will begin with the issue that ranked most important and continue down the list.

By addressing each issue individually, I hope to avoid "information overload."  For the voters who have no computer, or who have never used a computer, please visit your local library or a friend or relative who has a computer. Simply tell them to get on the Internet and type in rayuhric.blogspot.com . That will bring up this web site.

This is the list of issues ranked in order of importance to the voters so far:
This list is ranked in order of importance, not pro or con.

Ray Uhric       June 30, 2010







Biography

Upon graduation from high school in 1962, Ray Uhric enlisted in the United States Navy and chose the field of Naval Aviation. After training as an aircraft maintenance technician, he was assigned to a radar picket early warning squadron in the north Atlantic. His next assignment was a nuclear attack squadron aboard the aircraft carrier, USS Franklin D. Roosevelt. He completed his military service in a hurricane hunter squadron based in Florida.

After being honorably discharged, Ray was employed as a steelworker and a manufacturing plant worker. He reentered the aviation field as a student at the Pittsburgh Institute of Aeronautics. After graduation and federal certification as a aircraft maintenance technician, he went to work for Allegheny Airlines (later, USAirways). After a thirty-five year career, he retired in 2004.




A Note For Previous Visitors To This Website
Thank you for visiting this web site. In the past, this site has dealt primarily with national issues. U.S. Constitution based monetary reform was a solution put forth to permanently solve the under-funding problems of social security, Medicare, and the Pension Benefit Guarantee Corporation. U.S. Constitution based monetary reform was also a solution put forth to stimulate economic growth, lower taxes and reduce government debt.
I have decided to run for the 44th District seat in the Pennsylvania General Assembly. For this reason, this site will now link to my 2010 campaign web site. The campaign site will focus on the issues of concern to the voters in the 44th District, including me. As I campaign and talk to the voters, I will ask them to share with me their concerns and what they expect from their elected representatives in Harrisburg.
I will put these concerns and expectations on the campaign web site along with my recommendations for the best legislative action, or inaction, to be taken. I hope this interactive dialogue will convince the voters of the 44th Legislative District that I am worthy of their support in the November 2, 2010 general election.
Thank you.
Ray Uhric April 17, 2010