Tuesday, July 13, 2010

"The Real Culprit"

Here's a good article by Thomas DiLorenzo in the August 1 issue of TAC on the connection between monetary policy and militarism/war. It's good context for this photo.

With spending issues getting more public attention and starting to create a wedge among Democrats, the Fed as suprapolitical (and extra-democratic) fiscal enabler will become even more of a factor.


Anonymous KAIMU said...


Thanks for the read ... We need to see more often the rigorous struggle of our ancestors to keep Central Bankers in check. If only more Americans were tuned into the fraud of the US FED, a money monopoly. Controlled by the US Congress only in word.

Hamilton praised public debt as a “blessing” and complained to George Washington, “We need a government of more energy!” Jefferson, on the other hand, opposed both a large public debt and a national bank, arguing, “the perpetuation of debt, has drenched the earth with blood”—a reference to European monarchs’ endless wars of conquest funded by public debt.

Only Central Bankers would view war as desirable. Of course it took WW2 and the destruction of Europe to "fix" the US economy.

What monetary standard of measure exists today? As barbarous as gold is to Central Bankers and Ivy League Econ professors you could say that the US Dollar is worth 450% less, since gold has appreciated against the US Dollar that exact amount since 2001. In other words I get 450% more US Dollars now when I sell a gold ounce for $1260 than when I first bought it for $280 in 2001. So technically, the gold standard is still with us. It still has value and is still the proverbial "canary in the coal mine".

Now when we hear traders say they are going to "cash" they are really saying they are going to "debt", because that is all a US Dollar is. What's backing the $6.5TRIL in "marketable" debt issues YTD FY 2010? It's not tax revenues. That leaves "faith and credit" ...

- Eliminate the US FED

7/14/2010 3:51 AM  
Anonymous Goldhorder said...

Ummmm... What he says. I have tears in my eyes it was so beautiful.

7/14/2010 9:14 PM  
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