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Business Title: Hidden Poison Of The Gold Standard Hidden Poison Of The Gold Standard By Dick Eastman 7-21-11 All statements bracketed by quotation marks were made by Ron Paul. Libertarians say the government causes inflation because it prints too much money. 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. 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." 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. 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." 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. " 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. 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. 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. 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." 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. 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. 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. 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. 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? 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. 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. 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. 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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#1. To: Coral Snake (#0)
Amen. I spit on libertarians as a general rule.
"Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs.
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