Sunday, November 30, 2008

Raftshol for Governor 2010

Today, on my 59th birthday, I announce my plan to run for office of Governor of Michigan in 2010. I have already sent out the following email to early supporters:

I've decided to run for governor on the Greenback Labor Party in 2010. My one and only plank will be the creation and circulation of Michigan currency to combat the 9% (at least) unemployment in our unhappy state. I'm trying to decide whether the new money should be called
'Sparties' or 'Wolverines', or something else. Your input would be greatly appreciated.

Thank you,
Warren Raftshol

A supporter from Oakland County responded with the following:

'obviously it should be called Mittens. "Lend me a couple a mitts, mate" "I spent 400 mittens on it an it still don't work"

Issuing scrip was a fine 19th century practice. what other quaint 19th century notions can we expect from your administration?'

Supporter Karin adds:

"Its a real party- We were wondering if it was a real party or if you made it up!" Welcome to the Greenback Labor Party Museum of Learning

Reading list for serious supporters

The textbook for this campaign will be Web of Debt by Ellen Hodgson Brown which explains the predicament we all find ourselves in and offers a clear solution. Ms. Brown has an engaging writing style as she presents the history of money in the United States. You can read some sample chapters here: Web of Debt

Campaign Strategy

The campaign will have the double task of getting the Michigan Greenback Labor Party on the ballot for the 2010 election and getting an initiative petition to demand that the legislature create Michigan scrip. At this point, (I am still researching) I don't think that scrip can be circulated simply by the governor's executive order, although that would greatly simplify things. Michigan scrip will not be legal tender because article 1, section 10 of the US Constitution prohibits it from being so. What is necessary for scrip to be effective is that it be accepted for payment of state taxes, and that would require, I believe, legislative approval. See how Sen. Michelle McManus is plotting to restrict our initiative rights

Why do we need Michigan scrip currency?

Scrip currency is resorted to in hard times, although it is beneficial in good times as well. In recessions, and especially depressions, there is a credit crunch that leads to job layoffs and unemployment. The unemployment rate in Michigan is already 9% and has been high for quite some time now. While we've been patient, improvement is not on the horizon. The time is ripe for Michigan scrip. Michigan Mittens or Mitts can furnish the liquidity necessary for increased economic activity and prosperity. Making Michigan taxes payable in Mitts will ensure that they will be circulated as real money. A similar situation was faced by the town Worgl, Austria during the last depression. The Worgl experiment was so successful that it would have spread to the entire country had it not been quashed by the evil Austrian central bank. Worgl

Why the Greenback Labor Party?

The two major parties are controlled by the banking conspiracy which wants to maintain its stranglehold on the issuance, or nonissuance, of credit for not only this country, but the entire world. Depressions are engineered by this conspiracy. Then credit is contracted so that real assets can be bought up for pennies on the dollar. Soon, they will be able to buy GM, Ford and Chrysler at bankruptcy prices. Does anyone know who AIG Insurance is, or why they should get a bailout of $120 billion? The bailout conspiracy, as of today, has stolen $7.8 trillion from the US taxpayers The taxpayers have been duped into thinking that saving these banking criminals is somehow necessary to preserving the economy when in reality they are using the money they steal from us to cut our throats.

An honest third party dedicated to furnishing the people of Michigan with adequate liquidity to prosper is a necessity. We welcome support from the Green Party, the Libertarian Party, the Constitution Party as well as any others who see the importance
of our effort.

Post to Michigan policy forum

Michigan tax coupons/credits

written by Warren Raftshol, January 04, 2009
Michigan needs to monetize tax obligations to circulate as a form of currency.


This form of scrip currency would be constitutional since said tax coupons would not be bills of credit, but merely circulating coupons of specific tax obligations, which is to say, not money issued on the faith and credit of the state of Michigan.

Impetus for

The reason additional scrip currency is needed is because of the economic depression this state is now experiencing, with the present high unemployment and anticipated future layoffs in automobile related industries. By monetizing tax obligations, the state could make loans to private industries at low interest to maintain industry within the state as well as attract new industry to the state. The additional currency circulation would also stimulate economic activity and create and maintain jobs.

How it would work

The state would monetize a portion of future tax income, say $5 billion, and use this scrip both to pay its current bills - a portion of state employee wages and for supplies from vendors - and to loans for economic development to private borrowers. The recipient of tax credit scrip could pay his/her state taxes (property, sales, etc.) with this scrip, or use it as money to buy goods and services within Michigan. It is to be noted that tax scrip money would have value only within Michigan, and so would not leave the state economy. After returning to the state as tax payments, the state could then again use the circulating scrip to pay bills with. Interest earned by the state from scrip loaned at interest could be used to defray taxes.

Scrip as an alternative to borrowing

Using tax credit scrip instead of borrowing for infrastructural improvements would save bank/bond interest for the state and thus be a benefit to the taxpayers.

You can vote on this post and make your own comments at this link

Our first endorsement!

From: Silver Persinger
Date: Fri, Dec 5, 2008 at 3:13 PM
Subject: RE: Michigan Greenback Labor Party

Mr. Raftshol,

Congratulations on your decision to run for Governor of Michigan. And happy birthday to you.

I hope you are able to mobilize voters to help you get your name on the ballot. I support your concept to issue a state currency. I have been contemplating a similar demand here in Virginia. The currency should be acceptable for all debts and state taxes.

I believe I've got an old book or booklet somewhere that offers some justifications for a state's right to issue its own currency. I'll see if I can locate it, scan it, and get it on-line.

The control of the currency by the Federal Reserve and an international monetary system put private wealth above the public good. As you know, the Constitution gave the power to determine exchange rates and fiscal policy to Congress and Congress ceded that power to the Fed in 1913. It is definitely one of the most important (and misunderstood) challenges facing our nation.

Best of luck to you.

Respectfully yours, Silver Persinger

[Mr. Persinger is an organizer for the Richmond, Virginia chapter of the Knights of Labor]

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