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Power to the President
(Excerpted and condensed from the 2007 edition of
How to Prosper During the Coming Bad Years, Chapter 6)
Here’s a big reason why our presidential choice is critical. There is a mechanism already in place which is already the Law of the Land, which would give the President total dictatorial powers to solve any problem, real or anticipated.
Doomsday Powers
During the last days of the Ford Administration, Congress approved Executive Order, #11490, which can be put into effect by the President of the United States by declaration, and I quote from the Order, “…in any national emergency type situation that might conceivably confront the nation.” The President can invoke this at his own discretion and then it can only be reviewed by Congress after six months. This 35-page Executive Order gives the President the power to do almost anything. He can ration fuel, control wages, prices and rents, and prevent transfers of money. By simple declaration he can do almost anything which the government can put together the machinery to implement. Let’s look at the statutory powers inherent in this frightening document which is now the law of the land, only awaiting declaration.
Executive Order #11490 gives almost every governmental agency specific instructions and powers in case of a national emergency. At my first reading, it seemed fairly innocent, in that it seemed directed toward contingency planning for nuclear war, but as I looked more closely, it had teeth under a much more loosely defined definition of “national emergency,” like terrorist attacks.
“In accordance with the guidance approved by the director of the Federal Preparedness Agency, they are to be prepared to implement in the event of an emergency, all appropriate plans developed under this order.”
Section 105 indicates that “…plans so developed may be effectuated only in the event that authority for such implementation is provided by a law enacted by Congress or by an order or directive issued by the President, pursuant to statutes or the Constitution of the
Highlights
According to the Order, the Department of Defense will develop: “…plans and programs for the emergency control of all devices capable of emitting electro-magnetic radiation.”
There goes your cell phone!
The Department of Interior “…shall prepare national-emergency plans and develop preparedness programs covering electric power, petroleum and gas, solid fuels, minerals and water.” Under the heading “production,” they are to “provide guidance and leadership to assigned industries to ensure the continuity of production … and cooperate with Congress in the identification and evaluation of essential facilities.” Seizure of oil companies.
The Department of Commerce is to: “…control the production and distribution of all materials, the use of all production facilities, the control of all construction materials and the furnishings of basic industrial services, including production and distribution and use of facilities for petroleum, solid fuels, gas and electric power, and the Secretary of Commerce shall develop control systems for priorities, allocations, production, and distribution as appropriate, to serve as allotting agents for materials and other resources…” That’s rationing!
More Hair-raisers
The Department of Labor shall: “…develop plans and procedures for wage and salary stabilization and for the national and field organization necessary for the administration of such a program in an emergency, including investigation, compliance and appeals.”
This is wage and price controls, and a police-state structure to enforce them, and hyper-inflation or terrorist attacks might trigger the Executive Order.
Now we get to something really scary, and that’s in the description of the responsibilities of the Federal Bank Supervisory Agencies in Section #1701, “…regulation of the withdrawal of currency and the transfer of credits including deposit and share account balances.”
They can simply freeze all your money if it is sitting in a bank. This is explained away as the need for government to “prevent hoarding or panic buying.” And here’s another little joker thrown at us by the
They are to “…develop plans and emergency operating procedures for the utilization of excess and surplus real and personal property …” including “…the disposal of real and personal property and the rehabilitation of personal property.”
That could mean seizure, confiscation, “land reform,” and redistribution of wealth.
The SEC can effect “…the temporary closure of security exchanges … and the freezing of stock and bond prices if required in the interest of maintaining economic controls.” They can also prevent “…the flight of capital outside this country….”
You can’t send your money to
Well, those are a few highlights. This is the ultimate weapon held by the President of the
The government can apply leverage at crucial points in the system, such as the banks and the large energy companies. The most likely events will be the freezing of funds and the rationing of fuel, plus wage and price controls.
This Executive Order sums up the entire argument against registration of guns, and the advisability of conducting your survival item transactions, as described in Part II, with cash, as the banks microfilm all your checks and would be able to trace all transactions through the bank – or, more likely, demand that the bank search for them.
Economics creates instability where the public demands a “strong man” and all we need is the right (or wrong) man (or woman) in the White House.
I am not talking about a possibility. This Executive Order is the Congress-approved law of the land, only waiting to be declared. You have to conduct your life as though it were possible, even if you’ don’t admit that it is probable.
You should conduct your financial transactions with as much privacy as possible, leaving as few tracks as you can. You should have your money out of those areas which are essentially government controlled – banks, the stock market, even the commodities market, at the first sign of trouble.
Howard J. Ruff, the legendary author and financial advisor, has remained in the public eye for more than a quarter of a century. He is founder and editor of The Ruff Times Financial Newsletter. This article is from the October 5, 2007 issue of The Ruff Times newsletter. The Ruff Times is much more comprehensive and deals with a broad spectrum of middle-class financial issues and includes a gold and silver mining stock Investment Menu from which you can build your portfolio. You can learn about it here). The Ruff Times has served more than 600,000 subscribers – more than any financial-advisory newsletter in the world.
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