1. How America’s Political Elites Hijacked the Constitution Took Away Our Freedoms and What We Can Do to Restore the Republic Dr. Murray Sabrin Professor of Finance Anisfield School of Business Ramapo College of New Jersey www.MurraySabrin.com

2. Bird’s eye view of the economy Production of goods and services leads to ( based on savings and investment )… Purchase of money, which leads to … Sale of money for goods and services (consumption )

3. Road to Serfdom The Welfare State is merely a method for transforming the market economy step by step into socialism. Ludwig von Mises

4. Trashing the Constitution Everyone in government takes an oath to uphold the Constitution. But few do so. Do the people we send to the federal government recognize any limits today on Congress's power to legislate? The answer is: Yes, their own perception of whatever they can get away with. Judge Andrew P. Napolitano

5. How the Constitution Was Hijacked: From a Republic to a Welfare-Warfare State  JULY 4, 1776  1800-1860, The Great Conflict  1861-1865  FEBRUARY 1913 and DECEMBER 1913  APRIL 1917  OCTOBER 1929  APRIL 1933 and AUGUST 1935  DECEMBER 1941, JUNE 1950, SUMMER 1965  AUGUST 1971  Trashing the Constitution, Bipartisan Statism The farther backward you look, the farther forward you can see. Winston Churchill

8. Fiscal Imbalances

9. I place economy among the first and most important of republic virtues, and public debt as the greatest of the dangers to be feared. Thomas Jefferson, 1816

10. No generation has a right to contract debts greater than can be paid off during the course of its own existence. George Washington, 1789

17. The Economic Trap We are Facing

18. Manipulating the Economy Central bankers are actually central planners … they pick an interest rate to within two decimal places they guess is the right one, and then they proceed to cram it down the throat of the banking system. William A. Fleckenstein

19. Manipulating Interest Rates

20. There has been no generation that has not grumbled about the expensive times that it lives in. But the fact that everything is becoming dearer simply means that the objective exchange value of money is falling. Ludwig von Mises

21. The Dollar-Gold Link

22. Free Enterprise and Liberty The market economy is the social system of the division of labor under private ownership of the means of production. Everybody acts on his own behalf; but everybody’s actions aim at the satisfaction of other people’s needs as well as at the satisfaction of his own. Everybody in acting serves his fellow citizens. Ludwig von Mises

23. Replacing the Welfare State Government has proved incompetent at solving social problems. Virtually every success we have scored has been achieved by nonprofits…We now need to learn that ‘nonprofitization’ may for modern societies be the way out of mismanagement by welfare bureaucracies. Peter Drucker

24. Recommended Readings Economics in One Lesson, Henry Hazlitt The Law, Frederic Bastiat What Has Government Done to Our Money? Murray Rothbard The Anti-Capitalistic Mentality, Ludwig von Mises The Income Tax: Root of All Evil, Frank Chodorov Constitutional Chaos, Andrew P. Napolitano The Real Lincoln, Thomas DiLorenzo

25. Restoring Liberty Protecting Our Rights Abolish the income tax Phase out Social Security, Medicare and Medicaid End the federal government role in education, housing, energy, Make the dollar as good as gold once again Abolish all unnecessary regulations End nation building and undeclared wars All legislation must be consistent with the Constitution End direct election of U.S. Senators Restore a culture of personal responsibility, financial independence, individual liberty and limited government