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Discussion in 'Political Debate & Discussion' started by poncho, Nov 28, 2007.

  1. poncho

    poncho Well-Known Member

    Mar 30, 2004
    Likes Received:
    It is critically important that more people understand the reasons for our unfolding monetary disaster. The single corrupt foundation for the crisis is this: coercive government.

    The out-of-control United States government, empowered and not very well restrained by the Constitution, is the sole reason for the dollar's problem. Ever-larger coercive government led, inevitably, to corporatism, by creating an armed source of power that corporations could buy or meld with. Corporatism fosters the worst characteristics of both government and big business, by giving the greed of business access to the legalized coercion of government and by giving government access to the financial power and global reach of corporations.

    The Federal Reserve may be the ultimate corporatist institution. [Link is to a 41 minute video about the Fed by the Ludwig von Mises Institute].

    In the absence of coercive government, we would have competing banks, some of which might be corrupt but none of which would have a government-enforced monopoly and other coercively-protected powers that make the Fed so dangerous. Without the United States federal government, the Fed would not exist and the money used by Americans would be gold and silver – things which could not be counterfeited constantly to supply "money" for war, for special interests, and for other groups and purposes opposed to the interests of the average American. Nor would Americans be forced to literally borrow money – money created from thin air – from a privately-owned central bank (as our government does now) and then pay interest on it as part of the national debt.

    What a scam!

    The Fed has been used to transfer trillions – yes, by now, trillions – of dollars from ordinary Americans to the power elite, to corporations, to harmful (if often well-meant) government programs, to a military empire, to foreign dictators (including Saddam Hussein, Ferdinand Marcos, the Shan of Iran, and many others), and to special interests of every kind. It boggles the mind to think what we might have done with all that wealth had it been left in the hands of the people themselves.

    #1 poncho, Nov 28, 2007
    Last edited by a moderator: Nov 28, 2007