Give a man a gun, and they may rob a bank, but give a man a bank, and they most certainly will rob the world.
It is often said that money is the root of all evil, which is not true. Money is simply the means to facilitate the exchange of goods. But fiat currency, on the other hand, is the source of all the ills that plague our Republic today.
No one hardly talks about monetary policy, for it not as ‘sexy’ as class warfare, identity politics, the welfare system, government power, taxes, illegal immigrants, eternal overseas conflict, the loss of personal liberty and the ever growing Washington Swamp.
But our monetary policy is the cause of all of these problems. I repeat, the fiat currency system is the root cause of all these issues, and one the vast majority of Americans have no idea even exists.
But we are all controlled by it.
And nothing is more important to understand.
The Founding Fathers knew what a fiat currency system would do to our Country, which is why they often spoke and wrote about it, and even prohibited the establishment of such a system, right there in the United States Constitution.
In 1786, George Washington wrote “Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”
Let me ask you this, do you even take a moment out of your day and look at the crumpled Federal Reserve Note in your pocket and wonder how it affects your life?
Most people don’t. However most people strive for more of it. Whether by going to college and racking up huge student loan debt, seeking higher paying jobs or electing politicians to increase their wages, people universally want more of these Reserve Notes… while blaming others if they do not have enough of them.
But what are these ‘reserve notes’ really?
Some uneducated people believe these notes represent something, perhaps gold or other precious metals that have true market value.
Because they are really based upon nothing but debt.
Hold on, you might say, how can that be? Let me give you a little history lesson in the monetary system of America.
After the American Revolutionary War began in 1775, the Continental Congress began issuing paper money known as Continental currency, or Continentals. These paper notes were not backed by anything of market value like gold or silver.
Continental currency depreciated badly during the war, giving rise to the famous phrase “not worth a continental”. They simply printed too many of them. By 1780, the bills were worth .025 of their face value. By May 1781, Continentals had become so worthless that they ceased to circulate as money. Benjamin Franklin noted that the depreciation of the currency had, in effect, acted as a tax to pay for the war.
Because he knew then, but very few Americans know today, that inflation, the depreciation of currency, is yet another tax that hurts the middle and lower classes.
The painful experience of the runaway inflation and collapse of the Continental prompted the delegates to the Constitutional Convention to include the gold and silver clause into the United States Constitution. Government could not issue bills of credit or “make anything but gold and silver coin” a Tender in Payment of Debts.
What? Only Gold and Silver can be used for payment? So what is this paper thing in my pocket?
Hold on, we are getting there, let me continue the story.
Alexander Hamilton, America’s first Treasury secretary, warned: “To emit an unfunded paper as the sign of value ought not to continue a formal part of the Constitution, nor ever hereafter to be employed; being, in its nature, pregnant with abuses, and liable to be made the engine of imposition and fraud; holding out temptations equally pernicious to the integrity of government and to the morals of the people.”
But then, to finance the Civil War, Congress passed the Legal Tender Act of 1862. United States Notes, which were not redeemable in gold and silver on demand and bore no interest, but were legal tender, meaning that creditors had to accept them at face value for any payment except for public debts and import tariffs.
After the war, in 1869, Supreme Court ruled in Hepburn v. Griswold that Congress could not require creditors to accept United States Notes. In 1875, Congress passed the Specie Payment Resumption Act, requiring the Treasury to allow US Notes to be redeemed for gold after January 1, 1879, ending the use of fiat currency yet again.
United States Dollars were backed by gold and silver, and continued that way for about 40 years, until the progressives and their ‘bankster’ friends took control over Washington DC.
In 1913, a cartel of the largest banks in the United States met, and I kid you not, on Jekyll Island, off the coast of Georgia.
Jekyll Island was a private resort owned by the powerful banker J.P. Morgan. Hosting the meeting was Nelson Aldrich, one of the most powerful senators of the day, a lawmaker who lorded over the nation’s financial matters.
For nine days, working all day and into the night, these men debated how to reform the U.S. banking and monetary systems. “Discovery,” wrote one attendee later, “simply must not happen, or else all our time and effort would have been wasted. If it were to be exposed publicly that our particular group had got together and written a banking bill, that bill would have no chance whatever of passage by Congress.”
The bankers at Jekyll drafted legislation to create the National Federal Reserve, which Aldrich, the most influential senator of his day on financial matters, introduced in Congress three months later. After many political battles, the Federal Reserve Act of 1913 was passed, creating one large national bank ruled by a board of directors comprising local bankers and businesspeople chosen by those bankers.
So essentially, with virtually no government oversight, the note you hold in your hand is controlled by the world’s largest banking cartel.
So what does this truly mean to you, your life, and our great Republic?
Since the creation of the Federal Reserve, economists and a few statesmen have fought to audit the Federal Reserve; to uncover exactly what this secretive banking cartel is doing. This of course has not occurred, for if the American people realized what this banking cartel is actually doing, they would immediate demand, once and for all, ending the Federal Reserve.
Most Americans would rather blame each other, the other political party or foreign countries for their lack of prosperity, all the while the answer sits in their wallets.
If you think otherwise, here are some points you must consider-
- The Federal Reserve Controls Our Economy and Has Significantly Devalued Our Currency
It is essentially central controlled socialism, where the Federal Reserve Chairman has the power to dramatically impact our economy at a drop of the hat. The central bank completely controls and determines the money supply. It is permitted to create as much money as it wants out of thin air with no restrictions. None. It redistributes wealth for its own benefit, mostly from the lower classes to the banking elite.
The laws of supply and demand apply to money. The more dollars we have in the circulation, the less the currency is worth. Our money supply has rapidly increased over the past century due to the Federal Reserve printing massive amounts of money. Since the Federal Reserve came into existence in 1913, the dollar has lost over 95 percent of its value. Today’s dollar is worth less than a nickel compared to the pre-1913 dollar. Many of us remember buying all the groceries we needed for a week with one single $20 bill. Now we are lucky if that same $20 will pay for three items. Groceries are not going up, the reserve note, due to inflation and its hidden tax, is going down.
- The Federal Reserve Hurts the Poor and Middle Class the Most, which is fueling the call for socialism
Our hard-earned money is essentially stolen through a hidden inflation tax. Inflation is the increase in the supply of money and credit. It is often wrongly defined as the general rise in the price of goods and services. But higher prices are actually a direct consequence of inflation since increasing the supply of money decreases the purchasing power of the dollar. Inflation hurts the poor most since they have less disposable income. Consumers with low disposable incomes will be negatively impacted by higher prices for food and clothing. The rich get richer, the poor get poorer, and not understanding why, these disenfranchised voters are now demanding more government welfare programs.
- The Federal Reserve is Run by Unelected and Unaccountable Bureaucrats
The Board of Governors at the Federal Reserve is not elected by the American people. This means that those who run the Federal Reserve are unaccountable to you. The seven members of the Board ultimately decide the price or purchasing power of our money. That kind of central planning would never exist in a true free market economy. Throughout its history, it has always operated under a veil of secrecy. The Federal Reserve has never been fully audited by any outside source. It has continually resisted any kind of congressional oversight claiming that it would endanger its “independence.” A comprehensive audit of the Federal Reserve would not harm its so-called independence. It would only expose how the Federal Reserve has been manipulating our lives behind closed doors.
- The Federal Reserve is Unconstitutional
The Constitution makes no mention of a central bank. The federal government only has about thirty enumerated powers delegated to it in the Constitution. And creating a central bank is not one of them. Not to mention that the Constitution only allows Congress to only use ‘coin’ money, meaning gold and silver.
- The Federal Reserve controls our Foreign Policy.
Since 1913 we have been involved in a nearly endless series of wars. Might I also mention mostly unconstitutional wars, as Congress has not declared war since 1942. And the debacle in the Middle East is fueled by protecting the Federal Reserve and its fiat currency. For the Reserve Note is the world’s reserve currency, currently, for oil. To maintain its status as the World’s reserve currency, United States taxpayers prop up dictators, or take them down, depending on the needs of the Federal Reserve Banking cartel. Do you ever wonder why we fund Saudi Arabia, who in turn beheads people in their streets or starves nearly 5 million Yemenis? Because Saudi Arabia is the largest supporter of the Federal Reserve Note. Not to mention the recent ‘wars’ in Iraq, Syria and Libya. For while politicians may claim otherwise, all of these nations had a gold backed currency, which was a direct danger to the Federal Reserve Note.
- The Federal Reserve is Debt
The Federal Reserve is responsible for the out-of-control spending by Congress. The Federal government can only obtain money through taxation, printing or borrowing money. Printing money has become the federal government’s preferred method. This is also the most destructive method since the federal government, through the Federal Reserve, is able to simply print more money as needed to finance its drunken spending spree. It has become a never-ending cycle of spending and printing more money. Voters can put pressure on their representatives to halt politically unpopular tax hikes and lenders could stop loaning money to the U.S. government. But it’s easy for the Federal Reserve to print more money at a whim. Our debt grows, inflation increases, the poor get poorer and, feeling powerless, they cry out for more government spending. Which, in the end, will only make their situation even worse. Just how many more trillions of ‘dollars’ of this debt can the economy maintain?
- The Federal Reserve created the Federal Income Tax and the Welfare State
It is certainly not coincidence that the Federal Reserve Act, and the Federal Income Tax both passed the same year. For it is only through direct taxation on your industry, that the United States Treasury can partially pay back the Federal Reserve for all the money it prints. And I say partially because one quick look at the debt clock clearly shows this. The income tax is nothing less than a penalty for working. One that is necessary to continue the policies of the Federal Reserve to enrich the rich and further impoverish the poor. Which of course has led to the welfare state, where nearly 40% of Americans are now living on the government plantation. And crying for more.
- The Federal Reserve Causes Class Warfare
As the lower classes get poorer and poorer, and the cost of living grows, these people rightly feel the need to blame someone. Currently the fad is to blame the other political party, politicians and other Americans. As the ability to live their life erodes Americans watch the banking elite feast on lobsters on private jets. It is no wonder they elect politicians who outright admit they are socialists or promise more welfare dollars, which of course are just backed by yet more fiat currency, which will only make the problem even worse in the long run. Now some clamor for ‘slavery retributions, others blame other races for their lack of prosperity. For they rightfully feel someone is responsible for their lack of economic success. And someone is; the bankers at the Fed who are manipulating the value of our currency, controlling our national and foreign policy and creating a debt bubble that will one day burst and impoverish us all. All one has to do is look at Venezuela or a dozen plus countries world-wide who are suffering under the collapse of their fiat currency system.
- The Federal Reserve Destroys Freedom
As government grows, funded by the Federal Reserve’s printing press, liberty and freedom shrink. More and more politicians are elected to fund more and more social programs and exercise more control over the people. A central planned currency requires a centrally controlled populace. Your financial choices must be controlled and monitored, your labor and the money you earn from it heavily taxed to keep this scheme going, businesses controlled and even your ability to resist such a bloated bureaucracy must be curtailed. This is why so many progressive politicians that support increased debt, welfare programs and spending also support disarming the American people. Fiat currency requires control over the lives of those who live under it. For it to exist, it must control every aspect of your life. Think for a moment about any major decision you have made recently. Money is almost always a major consideration.
So now you may have, if you have been able to read this far, an understanding of what fiat currency is, the impact on your life and our Nation, and why it is so vital that we end the Federal Reserve.
How can we end the Federal Reserve? It is really simple. However, most politicians on Capitol Hill are controlled by the various fractions that make up the Federal Reserve. How else could they raise the millions needed to win a congressional or senatorial seat?
This is one of the many reasons the Founders created a Republic, and not a Democracy. You see, States have been passing Gold and Silver Legal Tender Bills. These constitutional bills create a competing currency to the Federal Reserve Note. They establish once again gold and silver as legal tender and eliminate any taxation on the gains of such as the Reserve Note continues to decrease in value.
An excellent example of how gold or silver based currency is far superior to fiat paper is the constant minimum wage battle. In 1964 the minimum wage was $1.25. Due to their silver content, $1.25 of 1964 quarters is now worth over $17. However, due to the Federal Reserve and its monetary manipulation, in paper currency, $1.25 in 1964 is only worth $10.19. This essentially has robbed the lower classes of $7 per hour of their labor.
We do not need to raise the minimum wage, we need to fix the money!
While many of us will continue to push for an audit and finally an end to the Federal Reserve at the National level, it is the States that will finally end it.
Wyoming, Utah, Arizona, Kansas, Oklahoma, Texas, Indiana, Missouri, Louisiana, Tennessee and South Carolina have all passed legal tender laws, which restores Constitutional, read gold and silver, money.
In fact, Louisiana, Utah, and Texas are now taking further steps toward establishing regulatory depositories to hold gold and silver.
And they would be encouraged by those who framed our Constitution.
“Paper is poverty,” Jefferson in turn observed in 1788. “It is only the ghost of money, and not money itself.” In 1817, the author of the Declaration of Independence wrote that paper money’s “abuses also are inevitable and, by breaking up the measure of value, make a lottery of all private property.”
“Paper money is unjust,” declared James Madison, chief architect of the Constitution. “It is unconstitutional, for it affects the rights of property as much as taking away equal value in land.”
Our Union in 2019 hangs by a thread, with the Country divided by envy. And envy created by the reckless fiat monetary policy of the Federal Reserve.
If we are to maintain our Constitutional Government, we must, restore sound money in Virginia and end the fiat currency system.