On the day following the 221st anniversary of the signing of the U.S. Constitution, WTP Chairman and constitutional activist Robert Schulz today filed a federal lawsuit in United States District Court in Albany seeking to halt the execution of the emergency bailout of American International Group, Inc. (AIG) by the United States Government and the Federal Reserve.
The lawsuit asserts that the commitment of public funds and credit for the direct benefit of privately owned AIG is an ultra virus action by the United States Government and Federal Reserve, i.e., beyond the limited legal authority granted by the Constitution. The lawsuit asks for a "show cause" hearing demanding that the Government produce evidence of its legal authority to commit public funds for such a purpose, as well as emergency and permanent injunctions halting the bailout transaction.
Beyond the Constitutional deficiencies, the bailout establishes a dangerous precedent enabling the Fed and/or Government to nationalize virtually any business or property within the United States without legal authority or congressional approval.
The defendants include the Federal Reserve System, Fed Chairman Ben Bernanki, the U.S. Treasury, Treasury Secretary Hank Paulson Jr. and the United States Government.
The WTP Foundation today issued a press release citing Schulz:
"Beyond the moral hazard and dangerous precedent established by this action, it is of vital importance that the American people recognize that the present financial crisis is a direct and predictable result of decades of constitutional violations by the Federal Government. Through a long-standing policy of disinformation and collusion with the Federal Reserve and Wall Street financial elite, the United States Federal Government has denied public access to information about the secretive operations of the privately owned and operated Federal Reserve and its monopoly control of America's money system.
"This monopoly control of our currency by a private banking cartel has resulted in increasing distortion, volatility and cyclical (boom and bust) economic conditions in the U.S. and abroad. America's fiat currency (produced from thin air) is manipulated by the Federal Reserve for the benefit of its owners, major Wall Street financial institutions and the Federal Government and is not unaccountable to the taxpayers. These abuses of the Constitution have taken our financial system to edge of the abyss. The chickens have come home to roost." Click here to read the Complaint, the Memorandum of Law supporting the TRO, and Schulz's Declaration which includes several recent articles from the New York Times.
The above graphic is the actual cover of
the Petition CD-ROM package
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As an additional fund raiser, we are making available a high-resolution, full-color poster marking WTP's historic "V for Vendetta" 2007 Right-to-Petition protest event in front of the White House. Each high-resolution poster is professionally printed on 80# pound, high-gloss cover stock.
The "16 x 20" posters are suitable for framing and are shipped in a sturdy shipping tube.