The Norman Transcript

Opinion

February 2, 2014

Sure you want to trust them?

NORMAN — Editor, The Transcript:

I’ve seen several letters recently in support of the Affordable Care Act. There are too many problems with the ACA to address in one letter but here is maybe the most significant problem: This Act was designed to evolve to a “single payer” system, i.e., the government runs the health insurance industry, and consequently to a very large extent, the health care industry. That has been publicly stated by Harry Reid, Nancy Pelosi (she of “we have to pass it to find out what’s in it” fame), and even some of the authors of the Act.

The federal government cannot wait to get its hands on the vast pool of money that is tied up in the private insurance industry and the control of trillions of dollars. That sure worked out well with the Social Security Act didn’t it? You know, the so-called Trust Fund and all? Some Trust alright. There isn’t any money in the Trust Fund. That was spent years ago by the government. The ability of the government to meet its obligations under the Social Security Act depends entirely on the solvency of the USA.

It is ironic how similar in its scope, and unconstitutional on its face (never mind that a mandate is really a tax), the ACA is to the Federal Reserve Act (FRA), the one that created the Federal Reserve exactly 100 years ago. This latter Act ceded what was truly the government’s responsibility under the Constitution, the creation and regulation of money (Article I, Section 8), to a private corporation. The Constitution provides for the U.S. government to “coin” money. Notice it didn’t say “print” money.

Was that because those primitive rubes who wrote our Constitution were unfamiliar with the sophisticated modern printing press? NO! The colonies had experimented with printed money with disastrous results. The Founders knew all about the problems associated with paper money, especially if it ever was printed without being backed by something of intrinsic value, such as gold or silver. It is interesting that those who wrote the bill to create the Federal Reserve just wanted to get something in place. Sound familiar?

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