Liberty Forged

the State has no money of its own, so it has no power of its own. ` Nock

Posts Tagged ‘monetary policy’

World Reserve Currency – China says yes.

Posted by Jesse on March 23, 2009

Bernanke: Oh no, no, no. No ones talking about a World Reserve Currency. We can print our way out of this mess.

Barack Obama: Geez, ya know. We’d be taking a stronger lead towards achieveing the goals I set forth during the campaign, but all these setbacks….this crisis, you know, we couldn’t have anticipated it.

Ron Paul: We are going to have a dollar crisis. I ran for Congress in the 70’s because Nixon removed the last remnants of the gold standard and I knew that would lead to disaster. We need to have sound money, move towards a new gold standard and abolish the Federal Reserve. (Also see: The Case for  a Genuine Gold Dollar)

Financial Times: China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.

Posted in Mine | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Keynes wants a World Central Bank – Congress is allowing it to happen

Posted by Jesse on February 5, 2009

For more on the subject of monetary policy and centralization of the economy click on the Rockwell Podcasts links to left.

——————————

Before the US House of Representatives, February 4, 2009, introducing the The Federal Reserve Board Abolition Act, H.R. 833.

Madame Speaker, I rise to introduce legislation to restore financial stability to America’s economy by abolishing the Federal Reserve. Since the creation of the Federal Reserve, middle and working-class Americans have been victimized by a boom-and-bust monetary policy. In addition, most Americans have suffered a steadily eroding purchasing power because of the Federal Reserve’s inflationary policies. This represents a real, if hidden, tax imposed on the American people.

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial “boom” followed by a recession or depression when the Fed-created bubble bursts.

With a stable currency, American exporters will no longer be held hostage to an erratic monetary policy. Stabilizing the currency will also give Americans new incentives to save as they will no longer have to fear inflation eroding their savings. Those members concerned about increasing America’s exports or the low rate of savings should be enthusiastic supporters of this legislation.

Though the Federal Reserve policy harms the average American, it benefits those in a position to take advantage of the cycles in monetary policy. The main beneficiaries are those who receive access to artificially inflated money and/or credit before the inflationary effects of the policy impact the entire economy. Federal Reserve policies also benefit big spending politicians who use the inflated currency created by the Fed to hide the true costs of the welfare-warfare state. It is time for Congress to put the interests of the American people ahead of special interests and their own appetite for big government.

Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy. The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.

In fact, Congress’ constitutional mandate regarding monetary policy should only permit currency backed by stable commodities such as silver and gold to be used as legal tender. Therefore, abolishing the Federal Reserve and returning to a constitutional system will enable America to return to the type of monetary system envisioned by our nation’s founders: one where the value of money is consistent because it is tied to a commodity such as gold. Such a monetary system is the basis of a true free-market economy.

In conclusion, Mr. Speaker, I urge my colleagues to stand up for working Americans by putting an end to the manipulation of the money supply which erodes Americans’ standard of living, enlarges big government, and enriches well-connected elites, by cosponsoring my legislation to abolish the Federal Reserve.

——————————

The Insolvency of the Fed

Since August 15, 1971 the US dollar has been an irredeemable paper currency. Every irredeemable paper currency in history has failed. Yet, the experiment of the US dollar and the rest of the fiat paper world continues.

figure11

Average of World Central-Bank Interest Rates (FED, BOJ, BOE, ECB, Switzerland)

Posted in *Take Action, america, anarcho capitalism, anarchy, antiwar, barack obama, books, business, campaignforliberty, capitalism, central banking, collectivism, congress, Constitution, culture, economics, economy, Education, election 2008, family, federal reserve, free market, Gold, government, history, international, internet, Libertarian, life, LvMInstitute, Mises, philosophy, Politics, republican, revolution, Rights, Ron Paul, Rothbard, socialism, society, the fed | Tagged: , , , , , , , , , | Leave a Comment »

The [Moral] Case for Gold [Sound Money]

Posted by Jesse on January 9, 2009

What is happening today, but told yesterday

[MP3] Current Economic Conditions [Frank Shostak]

And other goodies….

[MP3] Ron Paul in 1984 @ a Seminar on Money and Government

[Article][MP3] The Economics of a Free Society [Ron Paul]

[Article][MP3] Why the Gov’t Must Stop the Fed’s Massive Pumping [Frank Shostak]

[MP3] Power and Ideology in DC [Jeffrey Tucker]

Posted in america, anarcho capitalism, antiwar, barack obama, books, business, campaignforliberty, capitalism, central banking, collectivism, congress, Constitution, Current Events, democrat, economics, economy, Education, family, federal reserve, free market, Gold, government, history, international, john t flynn, Libertarian, life, limited government, LvMInstitute, media, military, Mises, obama, old right, philosophy, Politics, Pro Market, republican, revolution, Rights, Ron Paul, Rothbard, senate, socialism, society, the fed, work, writing | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Nader vs Baldwin “Let’s Get it On!”

Posted by Jesse on October 24, 2008

The opening question in this video is ridiculous.. It’s nice to know that those who provided the forum were so passionate about the issue. Good question, but to spend 3 minutes asking the question and then only allowing a minute to respond?! It should have been broken in to parts.

The video shows the candidates responses on protection of Israel, etc.

More videos on youtube and probably cspan.

Obviously, just as the corporate media does in their so-called “debates”, the answers by each candidate can be anticipated and follow-up questions should be on-hand. Fortunately a more open and free debate, like this one, is more conducive to a free society and the questions and answers were closer to the heart of the issues. The corporate “debates” only seek to undermine what they don’t want the public to hear. Special interest pervades.

What isn’t known or agreed upon is how the corporatocracy establishes and maintains its influence. I am of the ilk that it comes down to money. The last thing that should be done is to allow the powers-that-be more power over money. Which means, as far as visible knowledge is concerned….I am definitely in the minority.

————————————-

The best question asked all campaign season:

Posted in antiwar, Constitution, Current Events, economy, Education, free market, Politics, Rights | Tagged: , , , , , , , , , , , , , , , , , | Leave a Comment »

I heard that too…

Posted by Jesse on October 16, 2008

Rockwell posts this blog entry, Glenn Jacobs picked it up in a bloomberg article, I was at my mothers yesterday watching Bernanke give his speech/Q ‘n A to the Economic Club of New York….economic bubbles are a “phenomenon” Helicopter Ben claimed. Yeah, and the Fed is a blessing sent from God. Come on, tell us another one while people are still listening to this BS.

Anyone ever notice how nervous Ben and Paulson seem sometimes? Granted, it’s not as bad as McCain was at the most recent debate. But of course, The Financial Dictator Duo are pulling off the greatest heist ever in mankind, while McCain is just trying to suck up enough to get in on it.

Posted in Current Events, economy, Education, free market, Mine, Politics | Tagged: , , , , , , , , , , | 1 Comment »