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Discussion in 'Politics' started by KenH, Feb 16, 2006.
Wouldn't the title be more accurate if it was "The End Of Federal Reserve Note Hegemony"? After all the fed reserve note is a fiat currency backed by nothing but air, printed and issued by a private central bank unconstituionally.
The chickens are coming home to roost children. I read this this morning and it is an eye opener. One can see the hand of God in this almost. This is one Republican that people had better take heed too,
Here is a link where you can watch his speech on video.
The PTB want one global fiat currency controlled by a single private international central bank.
"Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation." --Ben Bernanke, Federal Reserve chairman
The Founding Fathers established a system of "coin" money that was designed to prohibit the "improper and wicked" manipulation of the nation's medium of exchange while guaranteeing the power of the citizens' earnings.
The federal government has departed from the principle of "coin" money as defined by the U.S. Constitution and the Mint Act of 1792 and has granted unconstitutional control of the nation's monetary and banking system to the private Federal Reserve System.
We need to Return to the money system set forth in the Constitution, repeal the Federal Reserve Act, reform the current Federal Reserve banks to become clearing houses only and prohibit fractional reserve banking.
Did you happen to read "The Coming Battle" I posted awhile back? It is a book written in 1899 about the Federal Reserve and the control the international bankers gained over our government and lives through it.
Here's a link to it in case you missed it. Interesting read! The Coming Battle
I guess I missed your link before, thanks for the heads up!!
The gold bugs forget that gold became "money" because it was convenient. It is no nonger convenient.
Second, they forget that during most of the years of gold money that most people were poor and didn't have any gold.
The fed mostly has the power to screw the American working class but has a much smaller effect on the international money market.
The globalists got that covered with the Bank for International Settlements brother BillWald. They control all the private central banks.
The Federal Reserve didn't exist in 1899.
It is about the National Bank System, not the Federal Reserve.
My mistake, sorry guys.
I found this very interesting - so much so, that I printed all 10 pages of it. Thanks for posting it.
I copied it to a WORD document.
Here is a link with info on the Federal Reserve.
BTW, they are not Federal, and they have no reserves.
People forget that "money," at least in the west, was invented as a convenience for the merchant class back when 90% of the population were "dirt poor" at best and slaves at worst. Only the rich people accumulated "money."
At least until WW1 at least half the population lived in poverty. Until WW2 the "middle class" were professionals (doctors, lawyers, engineers, business owners) and probably amounted to less than 20% of the population. The rest were dirt poor or wage slaves and didn't accumulate "money."
The large middle class was produced by the freak post WW2 economy. About the time the freak conditions were wearing off and the money ion circulation got tight the world converted to an electronic money system which produced the economy we now have.
Any change of the system back to the bad old day would probably blast us back to pre WW1 conditions. Most of the people who complain about the system are the ones who would be the new poverty class if the system reverted to the bad old days.
"Money" is an accounting fiction, the way we keep score in the game of life.
I always like to go back to Alan Greenspan's belief in the gold standard before he became the chairman of the board. Here's another Ron Paul speech where he brings up an article written by Greenspan called “Gold and Economic Freedom”.
Paper Money and Tyranny
All great republics throughout history cherished sound money. This meant that the monetary unit was a commodity of honest weight and purity. When money was sound, civilizations were found to be more prosperous and freedom thrived. The less free a society becomes, the greater the likelihood its money is being debased and the economic well-being of its citizens diminished.
Alan Greenspan, years before he became Federal Reserve Board Chairman in charge of flagrantly debasing the U.S. dollar, wrote about this connection between sound money, prosperity, and freedom. In his article “Gold and Economic Freedom” (The Objectivist, July 1966), Greenspan starts by saying: “An almost hysterical antagonism toward the gold standard is an issue that unites statists of all persuasions. They seem to sense…that gold and economic freedom are inseparable.” Further he states that: “Under the gold standard, a free banking system stands as the protector of an economy’s stability and balanced growth.” Astoundingly, Mr. Greenspan’s analysis of the 1929 market crash, and how the Fed precipitated the crisis, directly parallels current conditions we are experiencing under his management of the Fed. Greenspan explains: “The excess credit which the Fed pumped into the economy spilled over into the stock market- triggering a fantastic speculative boom.” And, “…By 1929 the speculative imbalances had become overwhelming and unmanageable by the Fed.” Greenspan concluded his article by stating: “In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.” He explains that the “shabby secret” of the proponents of big government and paper money is that deficit spending is simply nothing more than a “scheme for the hidden confiscation of wealth.” Yet here we are today with a purely fiat monetary system, managed almost exclusively by Alan Greenspan, who once so correctly denounced the Fed’s role in the Depression while recognizing the need for sound money.
The Founders of this country, and a large majority of the American people up until the 1930s, disdained paper money, respected commodity money, and disapproved of a central bank’s monopoly control of money creation and interest rates. Ironically, it was the abuse of the gold standard, the Fed’s credit-creating habits of the 1920s, and its subsequent mischief in the 1930s, that not only gave us the Great Depression, but also prolonged it. Yet sound money was blamed for all the suffering. That’s why people hardly objected when Roosevelt and his statist friends confiscated gold and radically debased the currency, ushering in the age of worldwide fiat currencies with which the international economy struggles today.
If honest money and freedom are inseparable, as Mr. Greenspan argued, and paper money leads to tyranny, one must wonder why it’s so popular with economists, the business community, bankers, and our government officials. The simplest explanation is that it’s a human trait to always seek the comforts of wealth with the least amount of effort. This desire is quite positive when it inspires hard work and innovation in a capitalist society. Productivity is improved and the standard of living goes up for everyone. This process has permitted the poorest in today’s capitalist countries to enjoy luxuries never available to the royalty of old.
SOURCE. Ron Paul