The was no private banking cartel called the Federal Reserve when the founding fathers wrote the Constitution. States issued money. Next you will tell me since the Constitution did not mention the IMF, they too can run US’s monetary system.
The founding fathers wrote the constitution SPECIFICALLY with the intent of keeping banking crooks & their paper money scams out of the system. It prescribes death to counterfeiters. They understood well the FRAUD & CORRUPTION that paper money brings.
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“The Constitution defines the role of states as only being able to coin money which it defines as gold & silver.”
So? Article 10 is a constraint imposed on the states by the Treasury, NOT a constraint on the Treasury. Constraints on states put no constraint on Federal authority except to limit the states to COIN only & no paper.
Paper is at the discretion of the Treasury. The Constitution puts no gold standard on the Treasury.
That’s why the currency says, “In GOD (not gold) We Trust”.
You did sleep thorugh the clip didn’t you. The Constitution defines the role of states as only being able to coin money which it defines as gold & silver. The enemy of worthless paper pushing banking goons is the constitution so where do you come up with the constitution being the enemy of libertarians. Its another gem you pulled out of your rear end.
As for the issue of RP discussing competing local currencies, check out the clip “RP assualt Ben Bernanke on Parallel Currencies”.
Just because I don’t DREAM about what RP said in the clip doesn’t mean I slept thru it.
Nothing your saying is in the clip nor does it deny ANYTHING I’ve said. So if your not simply ignoring my comments, then you’re the one doing the sleeping.
But when you snooze, you lose.
As for privatization, America’s been there & done that. Free markets are only as free as the Constitution (a libertarian’s worst enemy) allows it & as Bernanke shows there’s no bigger banking moron than a gold-tard.
have you read thewayhomeorfacethefireDOTnet
You must have slept through the above clip. RP clearly states that what he wants is for the people who earn a living to be able to CHOOSE what they want as money. NOT some banking morons forcing upon society their paper.
The only thing RP wants govt to emit as bills of credit is gold and silver. The free market should be free to select its own medium of exchange sans taxations, inflation, confiscation and other govt schemes and scams at the behest of bankers.
What part of this is unclear
Because the U.S. had excessive gold reserves relative to currency in circulation, the dollar’s gold value increased (as was the intention of the Fed) during the Great Depression.
By failing to maintain a STABLE value of the dollar to gold, there was a CONTRACTION of the money supply, not an EXPANSION (when there should have been) as a result of ever increasing gold-reserves from gold transfers resulting from the British pound & other currencies tied to gold losing value against the dollar.
There is no such thing as NON-EXISTANT assets. Credit always extends beyond principal, no matter the asset. The question is how far?
As the GD shows, unless government regulates, private banks will speculate & over-extend w/ or without a gold standard.
But, the Fed’s refusal to cover speculation, also refused ALL relief despite excessive gold reserves (Keynes took England off the gold standard because of the U.S. run on B of E gold reserves due to the over-valuation of the dollar by gold).
Yes. Everyone knows about the silver coinage from 1964 and earlier. Everyone knows that gold and silver WERE currency for thousands of years. They are no longer and haven’t been for some time. Not one country on Earth uses gold or silver as currency or backs up its currency with any precious metal. Therefore, gold is NOT money. CLASS DISMISSED!
Did you know that all dimes, quarters, half dollars, and dollar coins dated 1964 or previously is made out of silver? If you have these then they are worth a lot more than the coins today, why? Because Gold, and Silver have been the currency for thousands of years it wasn’t until the FED came in and started to regulate things and fuck everything up and diminished the value of the dollar because gold wasn’t there to back it up. You need to think outside the box.
There is at present, no country in the world in which the value of the currency is, in any way, tied to gold or any other precious metal.
I work in the gold industry, all currency is based on the value of gold. So yes it’s the fundamental premises for the value of our dollar, gold is the grandfather of your dollar.
RP is opposed to the government being a bank CUSTOMER because under the Constitution, government can make currency & doesn’t need to borrow money from ANY bank.
So, if you’re not a customer you’re not subject to ANY banking practice, fractional or otherwise. But just because you don’t want to tie up your shoes doesn’t mean your opposed to wearing them.
As for coconuts, worry about the golden ones you think grow on trees that keep landing on your empty head.
ben is shitting his pants, seriously he is a lying douche, anyone who thinks the FED or the government is at our best interest should run into a wall
My God… Bernanke didnt have a chance really tho did he? Lying, slimy Ben Bernanke up against one of the smartest guys in American Politics…
“Now central banks can just buy treasury bonds to increase money supply” -this is what you have just said. Can you not see how this is not money? Whenever people stop buying bonds or treasuries, they will just invent a new financial instrument to keep their system from failing. Their power comes from their ability to create ‘money’ from nothing.
The game is over already…on Friday China and Japan began trading together without using dollars for the first time.
Ron Paul is an insufferable cunt, and anyone who supports the gold standard is a fucking moron
“Is gold money?” If you can answer yes to all these questions, then gold is money.
1. Can you pay your taxes with gold?
2. Can you pay for a restaurant meal with gold?
3. Can you pay for your groceries with gold?
4. Can you pay your cable bill with gold?
5. Can you pay for a plane ticket with gold?
6. Can you pay your mortgage with gold?