The following amendment to the Constitution is proposed to assure the enactment of trade policies that pursue a restoration of a balance of trade. It is worded to provide for a proactive approach by the United States, as opposed to a passive approach that relies upon the promises and good faith of other nations.
28th Amendment to the Constitution of the United States
The United States shall not maintain a trade deficit with the rest of the world. The Congress shall enact trade policy utilizing import quotas and tariffs as necessary to assure that the cumulative effect of trade over the years, as measured in current dollars, is to maintain a neutral or positive balance of trade. The Congress shall review and adjust as necessary such import quotas and tariffs annually to maintain an overall, cumulative balance of trade. The United States shall not be a member to any international organization that does not recognize the United States’ fundamental right to manage international trade in its best interest.
What This Amendment Does and Does Not Do:
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It forces Congress to restore a balance of trade by enacting import quotas and/or tariffs, putting control of our trade results in our hands instead of relying upon the promises of other nations.
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It prohibits membership in international organizations like the WTO (World Trade Organization) that do not recognize the United States’ fundamental right to manage trade in the best interest of its citizens.
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It does not repudiate free trade or globalization. It merely requires that they be conducted in such a way as to assure that the United States does not run a trade deficit.
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It does not prohibit trade agreements with individual nations that may result in a deficit. It merely requires that the sum total of all such agreements result in an overall balance of trade with the rest of the world.
March 29, 2009 at 9:09 am |
[...] 28th Amendment to the Constitution of the United States [...]
April 12, 2009 at 10:06 pm |
if china owns one trillion of our tresury bonds , in dollar terms , what is the amount of chinas tresury bonds does america own ???? answer is zero
April 12, 2009 at 10:09 pm |
if it is true that america determines the health of the economy on how well the stock market is doing???? can it also be said that china determines the health of their economy as how well their trade surplus is doing???
April 12, 2009 at 10:19 pm |
the so called “w t o” is the ruling body concerning free or unfair trade practices. it may be the most important rule is this. currency manipulation. this occurs when a nation purposely maintanes its currency at a rate that forever allows it to have a unfair advantage concerning concerning world trade. it is the responsibility of the president , either bush , and now obama , to enforce these rules. is this a true statement?????
April 12, 2009 at 10:26 pm |
if china is our friend and ally , and now america has transferred one trillion dollars to their economy , why is it that iran and russia are its main ally , and china does not help us in the war with terroism???
April 12, 2009 at 10:35 pm |
talk about bailouts , did you know that obama could jumpstart the economy by transferring one trillion dollars to the poor and the middle class by the means that one trillion dollars would create 20 million jobs at 50 thousands dollars per year. i can tell you this. obamas plan will not prevent the coming depression. it is a drop in a bucket , way to little. the only way to fix the economy is to create demand.
April 12, 2009 at 10:42 pm |
if america would decide to exit the “w t o” and we decided to manufacture our own shoes , shirts , brooms , autos , name it and we can make it. immediately the unemployment rate will drop to zero. in which uncle sam will have taxpayers. and uncle sam will no longer have to borrow money from china. this is a “win win” situation. the only thing the world wants to buy from us is our military secrets. the world hates our constitution , our freedoms , and the american people.
April 12, 2009 at 10:51 pm |
one final remark!!! i am certain that a majority of americans agree with my remarks. there are some americans that are in bed with the so called free traders because they are in bed with those who are determined to destroy america. the word is “greed” $$$$$$$. i am certain of this also. if a “grass roots movement” were to get started , and a amendment to the constitution was to be started in the small towns all across this coutry , then we are more powerful then them. it is time for an american trade surplus.
April 19, 2009 at 7:33 am |
[...] 28th Amendment to the Constitution of the United States [...]
April 25, 2009 at 12:40 am |
what measurement could we use to determine wealth of a nation? would it be natural resurces? would it be “g d p”? would it be trade surplus? would it be gold? would it be infrastructure? would it be military , the number of submarines , superior aircraft , military secrets , icbm’s with hydrogen bombs prepared to be launched? would it be manufacturing? and where do we , the “u s a” stand , are we number one in the world?
April 25, 2009 at 12:51 am |
russia is number one in natural resources. over 50% of the worlds supply of titanium is in russia. maybe 25% of the oil. but russia lacks intfrastructure. japan , its currency possibly the strongest in the world . with trade surpluses going back to the 1960’s , the yen is number one. china , which has had growth of 10% to 15% for 15 straight years , yet manipulates its currency so as to lock in trade surpluses for years to come , and has one trillion of worthless u s tresury bonds in their banks.
April 25, 2009 at 12:59 am |
the united states of america , once the wealthiest nation on earth , is now a bankrupt superpower. we neither have natural resources , oil , gold . we have mothballed our manufacturing plants , many of them we already used cranes and bulldozers to permanently to destroy them. so we no longer have the ability to export products , in which the world is not interested in buying from us. yet we still import products from all over the world.
April 25, 2009 at 1:10 am |
hopefully obama , at some point and time will realise that we must exit the “w t o” and cancell all of the trade agreements and adopt pete murphy’s 28th amendment , and put our young people back to work. and then we will no longer have to borrow money from the world. we will have taxpayers. we can pay our bills , but number one priority is our military. america has several enemies. i admire obama’s attempt to forge friedship , and the truth is that we can no longer afford to have american troops all over the world. lets bring the troops home , but we must be prepared to defend ourselves.
May 24, 2009 at 3:49 pm |
if you go to polling report.com , you will see results that show most polls indicate that unfair trade deals are harmful to our economy. most certainly when you go shopping at walmart , and you see all of the products manufactured in china , and if you understood how china manipulates their currency so as to forever have an unfair advantage in world trade , i am thinking that 90% of americans would demand that obama would immediately call on china to revalue their currency. i can tell you this. in all of our major cities , the members of our street gangs get it. as they circulate amongst us , with their loaded revolvers in their pockets , they know that the economy is a false economy , that their is no opportunity for them for a living wage , that the justice system allows for a revolving door and they will be back on the street soon. there are not enough prisons that you can build to keep them locked up. and it will get worse. obama has a responsibility to enforce regulations concerning currency manipulation. this is a train wreck coming down the track much , very much bigger then global warming. i , myself , voted for obama as i was sure that he would address this issue. as he walked the streets of chicago , certainly he must of understood the results of loosing our american jobs. certainly he must of understood that people who work pay taxes. either you have taxpayers or you borrow money from the rest of the world. at some point in time ,if we continue on this course , there will no longer be a united states. we simply will not be able to defend ourselves. it requires a lot of money for research and developement for a modern military. we need to amend our constitution so as to require that our government enforce laws concerning trade and jobs. many of our young street gang members would want to quit the street gangs and find a good job to be able to feed and clothe their family. this is a no brainer.
June 13, 2009 at 7:11 pm |
recently obama has adopted a system called , “paygo” this was the same system bill clinton operated during his term as president. and it was possible for clinton to balance the federal budget, yet clinton had a advantage. because of the fall of soviet union , clinton was able to reduce spending. actually america is being forced into “paygo” as the world no longer believes that america is credit worthy and wants to buy tresuries bonds. and so if one is unable to raise taxes on the wealthy , which republicans point out is socialism , then there is only one other option. and it is so dumb that no one can see what that option is. it is that dirty word “protectionism” immediately we must cancell all of the stupid agreements called “gatt” and “wto” and “nafta / shafta” only IF ,,,, IF america returns to what it was that made us what we were , america that defeated japan and germany , and was able to use diplomacy to encourage the soviet union , to see that war was insane , this was who we were. we manufactured our own clothes. we made our own shoes. we were the number one manufacturing country in the world. and because of this , we had taxpayers. immediately we must tax imports and we must tax corporations which outsource jobs. immediately we must postpone global warming issues. immediately we must open up our huge natural gas reserves and convert our trucking companies to run on propane gas. ?? i wonder how many barrells of oil we use for our trucking companies. BUT OUR NUMBER ONE PRIORITY IS JOBS , PEOPLE WORKING AND PAYING TAXES. i will finish on this point. “paygo” will not allow us the freedom to enforce many new regulations , because , this is a national emergency. if america defaults on the tresury bonds , then we will see a depression that will be much worse then the 1929 depression
August 14, 2009 at 9:17 pm |
personally I would tie Health care into this amendment
August 14, 2009 at 10:27 pm |
Subject: New Reserve Currency needed to stabilize World Economies , food for thought ………….
What we have is more production than the consumers can consume in all categories , with the developed world reaching a High Tech Manufacturing capacity like never before !!!! The problem now is the lack of resources to manufacture with , thats coming in the very near future , as China stock piles raw materials that will one day place the USA and the dollar in a position of rejection by trade partners , making negotiations for goods from these trade partners almost impossible , with in turn will lead to USA and UK isolation from supplies of goods , and Hyper Inflation over whats left , as the western nations struggle to make up the lack of supply , with a decimated manufacturing base , causing full blown nationalization of economies in the western nations as this Isolation of countries plays out from dollar rejections .
So we need a New Monetary Policy that can recapitalize our financial position back to a sustained level and then build growth from there based off fundamentals that take into consideration the very quality and cost effective allocations set forth by sustainable monetary policies that address today’s needs , as well as future growth needs , all driven with trades in these market categories that reflect all nations currencies trading at parallels that carry a system of guarantees that if one country starts to abuse credit by over reaching a sustainable level of risk for advancement , if the trend does not meet a criteria that addresses the need short or long term , then investors would see this and adjust their risks into more guarantee investment platforms , like International Precious Metals markets guaranteeing the basket of Reserve Currencies , rather than the Dollar as the Only Reserve Currency , to hedge away from Geo Political pressures that tend to abuse credit allocations for voter approvals . same with any countries abusive manipulations of taxation either to high or low , for reasons that do not drive the needs of society by advancements and those advancements be inspired by monetary incentives for performance of innovative processes feeding the needs of present and future societies , like is somewhat like we have today , just that the equality of these fundamentals have been shadowed by Politics to the point that Wealth Consolidation has been the results as well as a saturation of products from the 2 colliding in the 21st century , as the Dollar is manipulated over and over again . No matter how much diversity we place into our Investments , as long as its denominated in ” Dollars Only ” , the manipulation by the big banks as they try to consolidate the transactions of International Trade , and this will continue the restriction of capital formation as the wealth of world economies continues to consolidate through the financial sectors and ending back at the originator of the Manufacturing sector for goods , thats under valuing the operating currency value of their production values , causing all other trade partners currencies to devalue towards them .
The root of the dollar devaluation , which has kept US and UK working families wages forced to compete to Asian wages is why we are now losing the fight in competition , and a devaluation of our economy , and dollar because we cannot manufacture anything , that is our way of creating New money , so now we devalue towards Asian currency values . Until we right this wrong , which Gresham’s Law tells us is a flaw in economics when 2 different valued currencies trade in the same markets the lower valued will devalue the higher , without some form of balancing measure , ie ; Tariff Trade , which was banded in 1994-5 , which was told to our congress this devaluing effect was and would take place … read here ; The High Cost of the China-WTO Deal
Administration’s own analysis suggests spiraling deficits, job losses
by Robert E. Scott http://www.epi.org/publications/entry/issuebriefs_ib137/ ; this independent analogy of how the USA and European Economies would crumble under the tariff Free trade agreements is a direct example of Gresham’s Law of the 14th Century ; read here ; http://www.columbia.edu/~ram15/grash.html , which we should argue with the professor here in the thesis over the fact that it ” DOES ” indeed lead to the devaluation of the higher valued currency……..
But I am just saying we cannot go back to tariff Trade law because that would bring isolation to the WTO trade partners and hyper inflation and eventual conflict , but we might be able to gain the benefit in this ETF basket of Currencies , if the USA and the UK would throw in and make this the Tradable Reserve Currency !!!!!!!!!!!
Think how world economies could expand and help causes like the Afghan Women and Children , if business could value finance and the values of funding through vehicles that would be balanced like this kind of ETF as the Reserve Currency of International Trade ????? take this alliance
http://www.marketwatch.com/story/morgan-stanley-mufg-to-bolster-global-alliance-20096301736240 If the USA and UK were in the Basket of Currencies together with the WTO Trade partners , a revaluation of the WTO Trade partners currencies into this New One World Trade Reserve Currency would effectively address through vehicles like these the advancements of under-developed nations , and stabilize economic structures at the same time , so that value appreciation in economic growth worldwide , and Peace through fair and free trade agreements can continue , its only right that we debate the path we have came to today that demands we consider what our Trade partners are asking that we engineer a New Reserve Currency that can accommodate the needs of all developing nations so that developed nations don’t end up consolidating the wealth thats produced from developing nations , all peaceful propositions !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
But today what this calling of the change of the Reserve Currency status that the dollar represents by Chinas willing to negotiate the change , is that this gives the USA a better way to Negotiate with China and Russia ways to curb the violence in Radical regimes like Iran and Korea , what a Position to be in !
China Calls For New Reserve System: Currency ETFs In Focus
http://etfdb.com/2009/china-calls-for-new-reserve-system-currency-etfs-in-focus/
by Michael Johnston on June 29, 2009
New International trade currency needed to balance wealth redistribution of International markets
This ETF traded fund is a start of a new way of valuation of currency trade to help counter balance the trend of different valued currencies trading in the same markets , and their devaluing effects that happen when lower valued currencies trade in the same markets as Higher valued ones , with the inclusions of Precious metals markets acting as balancing counter measures .
http://www.wisdomtree.com/library/pdf/materials/WisdomTree-Case-for-Emerging-Currencies-CEW-570.pdf
WisdomTree Multi-Currency http://www.WisdomTree.com/EmergingCurrency 1st ETF Exposure to World Money Market Rates in 1 Fund. Learn More China’s central bank once again stated the need for reform of the international currency system to reduce over-dependence on current reserve currencies (read: the U.S. dollar). While the People’s Bank of China (PBOC) didn’t specifically mention the dollar in its statement, the desire to replace the greenback as a central component of many countries’ foreign reserves holdings was quite clear. “To avoid the shortcomings of sovereign credit currencies acting as reserve currencies, we need to create an…international reserve currency that can maintain the long-term stability of its value,” the PBOC said.
Subject: EVIDENCE-OF-GOVERNMENT-MANIPULATION-IN-THE-STOCK-MARKET A nice video talking about government manipulation can be found here
Fundamentals Review A nice video talking about government manipulation can be found here
A few weeks ago the idea was floated of regulating the over the counter derivatives market who’s nominal value is approaching $1 quadrillion. I opined that they would fight tooth and nail to avoid this and sure enough the fight is beginning. Lobbyists are to begin by releasing a letter to regulators http://www.reuters.com/article/businessNews/idUSTRE54S11K20090529?feedType=nl&feedName=usbusinessearly professing their commitment for transparency. If that is true then what’s the problem? The problem is many of these complex derivatives are worth much less than the 100% they are valued at on the books today. Maybe 20% in my estimation.
I doubt we will ever see the true value of these since it would effectively show the worlds major financial institutions are bankrupt. All the institutions would have to do is repeat the scare tactic they used when the first bailout program was passed on the second vote. They basically threatened the end of the economy as we know it and that marshal law would have to be enacted almost immediately. It was a bluff that worked then, and would work again.
It reminds me of a joke I heard recently. What’s the difference between the drunks in Vegas and Washington? The ones in Vegas gamble with their own money!
A nice video talking about government manipulation can be found here http://myprops.org/content/EVIDENCE-OF-GOVERNMENT-MANIPULATION-IN-THE-STOCK-MARKET-Dan-Shaffer-explains-on-Fox-Business-News-video-and-transcript/ and is well worth a viewing.
To create the means to negotiate Peace lies in the negotiation of a new reserve currency .