End the Fed!
October 12th 2009 15:05
Most people accept the Federal Reserve - the manager of the nation's money stock -- as an indispensable institution that the United States cannot function without. However, I can assure you that it is irresponsible, ineffective and ultimately useless. If you want to know what the Fed is and what it does, I recommend attending some economics lectures at your local college, or try reading Ron Paul's new book, 'End the Fed'. Either one will leave you chilled to the bone when you realize that the Fed is actually the cause of most of our economic downturns.
The number one reason it causes economic downturns is due to it's one unique power - the ability to create paper money out of thin air. Considering that one half of every commercial transaction is money and that entire cultures rise and fall based on the quality of their money, this is an awesome power, and one that most of you do not realize or normally think about.
The recent economic crisis and bailout are a perfect example. All the bailout did was reward companies that made bad business decisions. The crisis would have been over quickly and the market would have adjusted itself and things would have been fine. Instead, the Fed felt it necessary to bailout it's good buddies in the market with some of our tax dollars. And they did it by creating money out of thin air. Here are the numbers(in the BILLIONS!) supplied by the Fed showing the massive increase in the money supply:
2008-08-01 847.472
2008-09-01 908.020
2008-10-01 1,132.509
2008-11-01 1,441.067
2008-12-01 1,663.932
2009-01-01 1,712.081
2009-02-01 1,562.251
2009-03-01 1,646.934
2009-04-01 1,752.744
2009-05-01 1,774.892
2009-06-01 1,684.038
2009-07-01 1,673.100
2009-08-01 1,706.099
This shows that money supply has more than doubled in just one year! If this money remains in circulation, then the value of our savings will tend to be cut in half, as will the purchasing power of our paychecks. Can we afford that?
It gets worse. If I'm correct that legalized counterfeiting causes recessions (which it has all throughout history), we may yet face an economic downturn equal to the increase in the money supply.
Worse still, remember from the example of the 1970s that it's possible to have both recession and price inflation at the same time. This too could be in our future. What can we do to stop it? There are three bills in congress that would correct this problem.
* The 15-word "Honest Money Act" that would repeal the 41-word legal tender law.
* The 104-word "Free Competition in Currency Act" that would repeal the government monopoly over the creation of coins for use as currency.
* The 193-word "Tax-Free Gold Act" that would prohibit federal and state taxes on precious metal coins and bullion.
These three simple bills would allow you to hold your wealth and conduct your business in whatever form of money you choose, not just Hyper-inflated Federal Reserve Notes. This would give us a free market money system and lead the way for the End of the Fed.
Will the government want this? Of course not! Will we have to fight tooth and nail to try and get it done? Absolutely! But what if we don't? OPEC is already moving away from Federal Reserve Notes for their business transactions. The world is watching because they know it could easily happen. The dollar could collapse at any moment with all the pressure that is on it now. Gold just set a new record. If that doesn't convince you, nothing will. Contact your representatives now. Do it for your country AND your family! Otherwise, we could all face an economic downturn of catastrophic proportions.
A video for your enjoyment related to The Fed:
Really Long Link
The number one reason it causes economic downturns is due to it's one unique power - the ability to create paper money out of thin air. Considering that one half of every commercial transaction is money and that entire cultures rise and fall based on the quality of their money, this is an awesome power, and one that most of you do not realize or normally think about.
2008-08-01 847.472
2008-09-01 908.020
2008-10-01 1,132.509
2008-11-01 1,441.067
2008-12-01 1,663.932
2009-01-01 1,712.081
2009-02-01 1,562.251
2009-03-01 1,646.934
2009-04-01 1,752.744
2009-05-01 1,774.892
2009-06-01 1,684.038
2009-07-01 1,673.100
2009-08-01 1,706.099
This shows that money supply has more than doubled in just one year! If this money remains in circulation, then the value of our savings will tend to be cut in half, as will the purchasing power of our paychecks. Can we afford that?
It gets worse. If I'm correct that legalized counterfeiting causes recessions (which it has all throughout history), we may yet face an economic downturn equal to the increase in the money supply.
Worse still, remember from the example of the 1970s that it's possible to have both recession and price inflation at the same time. This too could be in our future. What can we do to stop it? There are three bills in congress that would correct this problem.
* The 15-word "Honest Money Act" that would repeal the 41-word legal tender law.
* The 104-word "Free Competition in Currency Act" that would repeal the government monopoly over the creation of coins for use as currency.
* The 193-word "Tax-Free Gold Act" that would prohibit federal and state taxes on precious metal coins and bullion.
These three simple bills would allow you to hold your wealth and conduct your business in whatever form of money you choose, not just Hyper-inflated Federal Reserve Notes. This would give us a free market money system and lead the way for the End of the Fed.
Will the government want this? Of course not! Will we have to fight tooth and nail to try and get it done? Absolutely! But what if we don't? OPEC is already moving away from Federal Reserve Notes for their business transactions. The world is watching because they know it could easily happen. The dollar could collapse at any moment with all the pressure that is on it now. Gold just set a new record. If that doesn't convince you, nothing will. Contact your representatives now. Do it for your country AND your family! Otherwise, we could all face an economic downturn of catastrophic proportions.
A video for your enjoyment related to The Fed:
Really Long Link
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