- All statements bracketed by quotation marks were made
by Ron Paul.
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- Libertarians say the government causes inflation because
it prints too much money.
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- A populist says that the government prints no money at
all. It is the private banks in a system regulated by the private mostly
foreign-owned Federal Reserve that controls the purchasing power -- mostly
loan-created checking deposits. These bankers have the power to determine
whether money will increase or decrease.
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- Libertarians say that the Federal Reserve "buys
debt, keeps interest rates low, and sticks it to the people who want to
save and make money."
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- A populist says that the Fed maintains tight money supply
in the domestic economy causing ruinous deflation for the general public
while at the same time it floods the international financiers and speculators
with trillions of dollars for them to use investing around the world and
for buying up our bankrupted homes and businesses to become their rental
properties and be aborbed into their monopoly corporations. The Fed helps
the creditor class gain hundreds of millions in wealth simply by cause
domestic economy deflation which makes the IOU's held by the super rich
that much more valuable.
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- The libertarians know this very well, but only rarely
admit it as here: "Deflation means that if you hold onto money (saving),
it will increase in buying power instead of decreasing. If you have $100
in your pocket you can buy $100 shoes. After deflation, you may only have
$20, but now those shoes cost $15."
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- Libertarians say: "So if you want to restrain government,
you restrain the power to create money. And that's what gold does. ...
But people don't like it because it will restrain their ability to spend
money and do things that they otherwise couldn't do. "
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- A populist says that gold does nothing that the rich
men who own all the gold doesn't want it to do. In the 19th century, the
heyday of the gold standard, booms and busts were engineered by robber
barons like J P Morgan, simply by orchestrating the depositing or withdrawing
gold by private individuals. During the boom, the public would take out
easy credit loans and build up businesses and after that the Robber Barons
would withdraw gold forcing banks to call in loans thereby contracting
available purchasing power and debt-paying power and causing a deflationary
depression during which the financiers would buy up all of the foreclosed
assets (farms, factories, homes) at deflated prices.
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- Libertarians say that depressions will go away once inflation
is ended and that inflation will be ended when the US drops "printing
press" money and adopts hard money exclusively.
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- A populist says depressions are caused by deflation and
deflation is caused by too much debt demanding the payment of too much
principal and compound interest. Populists also say that requiring that
all new dollars be backed with new gold -- makes it impossible to end a
depression, because depressions can only be cured by inflating purchasing
power in the domestic economy of households and industry so that consumers
have the purchasing power to generate strong demand for American goods
and services. Adopting an exclusive hard money system locks in deflation
to the benefit of creditors who will be paid dollars made more valuable
by deflation (each dollar exacting more labor from the borrower who has
to earn the principal and interest that pays for the loans.) This is theft,
but libertarians don't seem to mind theft when wealth is transfered from
working poor as a windfall to the ruling-class creditors.
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- Libertarians say that adopting a gold standard would
be painless.
- They say that "establish a gold standard .. we would
redeem at the market price for a period of one year the greenbacks we have
printed, and then cease redemption, allowing the gold coins we have put
into circulation to function as our money of account. .. If we proceed
to a gold standard in an orderly fashion... then there will be no depression.
A gold standard cannot be achieved if we do not end our budget deficits
as well. The standard must be accompanied by tax cuts, an end to the printing
of paper money, and a significant reduction of federal regulations if we
expect a restoration of a sound economy."
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- A populist says that adopting a gold standard would be
seriously damaging and exceedingly painful and permanently crippling.
First of all, if the US has no gold and is bankrupt -- where does it get
the gold to buy back the greenbacks? Secondly, most of the dollars --
about 20 times more dollars are held outside the country than by American
citizens inside the country who earn their living in the domestic economy.
This means that the American people, in order to get on the gold standard,
would have to somehow get obtain gold to allow all of these foreigners
-- for example Jewish merchant banking families and the Triad (crime
family) princelings who boss Red China -- to change their trillions of
dollars for bullion.
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- And where would we get the bullion to pay these foreign
holders of all these Federal Reserve dollars? Since we have none, we would
have to sell everything we have to get the gold to buy back the dollars
that Fed Chairman Bernanke has just "QEed" out of the country.
But we don't have that much left to sell. The government and the people
taxed by the government would be drained of EVERYTHING just to buy the
gold to cash out the foreign dollar holders -- and when that is done --
if it can get done -- there will still be nothing left with which to buy
gold for our own business transactions in our own economy. We would simply
have no means to run a business or own a house or even to buy the most
basic necessities. This is what the gold standard will mean to us.
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- Libertarians say: The constitution makes it very clear
that "only gold and silver can be legal tender," and that therefore
the legal tender laws should be repealed.
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- A populist says he doesn't believe that the constitution
says that.
- He knows that Franklin and other founding fathers specifically
stated that the American Revolution of 1776 was fought because the colonies
were denied the right to issue paper money, since the nation was drained
of gold that was used to buy British manufacutures, and for enterprises
to be born in America there had to be sufficient market demand and that
demand could only come from the issue of paper (fiat) currency. But even
if the Constitution did state that all money has to be either gold or silver
(I does not say this) then the populist response would be: AMEND THE CONSTITUTION
AS PROVIDED IN THE CONSTITUTION. Every populist knows that Rothschild
agents (particularly Hamilton) had a hand in the crafting of the Constitution
-- little passages that slipped byhe notice of the true patriots like
Madison, Paine, Patrick Henry and, in Paris, Jefferson
- -- little clauses for the Rothschilds to exploit when
their agent John Marshall became Chief Justice of the Supreme Court and
the Federalists morphed into Tories subject to the dictates of the City
of London. A fig for the Constitution when its hidden bobby traps lead
to our enslavement to Jewish international finance.
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- Furthermore populists say that legal tender laws are
the most important laws relating to the nations sovereignty and economic
well-being. It is legal tender laws that establish a fiat currency as
money. Legal tender laws are the establishing operation necessary for
initiating a token as money. If a token is guaranteed to be accepted by
the government for payment of taxes then its value is established for all
transactions, since everyone must pays taxes and therefore has some demand
for those tokens. A government can create money "out of thin air"
by simply issuing it and declaring it legal tender. IT IS LEGAL TENDER
LAWS THAT CAN SAVE US FROM DEBT SLAVERY AND ABJECT POVERTY AND MARGINALIZATION
AND EXTERMINATION. Or do you expect everyone in the country to buy their
freedom which must be paid in gold?
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- Libertarians say the US has the gold and other countries
have the gold they need to start of world gold system with every nation
on the gold standard.
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- A populist says this claim is completely untrue. The
IMF has 3 or 4 thousand tons of gold, but the IMF is a private institution,
controlled by the Rothschild interests. The European Union private bank
has over 10 thousand tons of gold, the Federal Reserve under 6 thousand
tons, the central banks / foreign exchange reserves of Germany, Italy,
France, Italy, China, Switzerland, Russia, Japan and India each have less
than 4,000 tons -- the world total of foreign exchang reserves being about
30,000 tons. But remember, the Deutshe Bundesbank, the IMF, Banca D'Italia,
Banque De France, the Swiss National Bank, Central Bank of the Russian
Federation, Bank of Japan, and the Netherland Bank and the Reserve Bank
of India are all privately owned banks -- the gold assets belonging to
the owners of those central banks. For that gold to enter circulation
in those respective countries, the public would have to borrow at interest
-- and so from the outset -- we would have the same deflationary situation
we have now -- where the money must be borrowed and where each dollar
of loan must be repaid in the sum of principal plus interest. Otherwise
there can be no money in the economy -- because all money must be hard
money under a gold standard system.
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- Note too that all the gold mines owned and traded represent
about 50,000 tons in the ground -- and kept there to keep the price of
gold high for suckers who listen to libertarians like Glenn Beck, Gerald
Celente, Alex Jones and Ron Paul. It is not known how much gold actually
remains in Fort Knox, Philadelphia Mint, Denver Mint, the West Point
Bullion Depository and the San Francisco Assay Office or who has claim
to this bullion if it exists.
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- The gold standard, in conclusion, fixes only one problem,
and it is not our problem. The gold standard only fixes the problem of
the creditors of how to make the borrowers have to pay back more purchasing
power than they borrowed and even more purchasing power than the sum of
the principal and the compound interest -- because deflation is a premium
to the creditors on top of nominal principal and interest. It is an unearned
windfall -- and that is what the libertarians are after. In the final
analysis the libertarians are shiftless bums wanting something for nothing
at the expense of people who are already paying interest they don't have
to pay for purchasing power that they can only use a little while and then
must pay back.
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