Topic: Ron Paul
The Key to Freedom: Honest Money Without honest money, we become slaves of those that control money. Honest money cannot be debt-based and has to based on something of value.by Ivan from Oregon
(libertarian)
Tuesday, August 19, 2008
I find it curious that not many, if anyone, challenges our money system that is debt-based. Just think about it - if money can only be created through debt, i.e., borrowing into existence, at interest, then the debt can never be repaid. For example, if I, the government, borrow $10 to make up the country's money supply, and I have to pay back $11, and you (the Fed) have a monopoly on creating money, then the debt can never be repaid, because the $1 for the interest on the debt has not yet been created, and can only be created through more debt. This sort of scheme, perpetrated by the Rothschilds (the name in German means "red shield") a couple of centuries ago, has led a large part of the world toward the global plantation that is planned for us all. The debt incurred by any government in this way, if ever paid (though that is impossible), would lead to no money in the system, resulting in an economic collapse. By its very structure, this kind of money system ultimately has to result in an unpayable debt (such as our national debt) and a collapse of the monetary system.
There are examples in our history of leaders that have understood this and tried to do something about it. The most notable ones that come to mind are Abe Lincoln and John Fitzgerald Kennedy, who both got assasinated for doing the right thing - creating debt-free money. Lincoln created the "greenback", understanding that he didn't need a private bank to do this for him. When he created this alternate form of money, the London Times of that time reported:
"if that mischievous financial policy, which had its origin in the North American Republic, should become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and the wealth of all countries will go to North America. That government must be destroyed, or it will destroy every monarchy on the globe."
JFK also figured out that, if the US Treasury could issue Treasury Bonds, it might just as well issue "US Notes" to act as legal tender, and not have to "borrow" them from anyone at interest. Of course, as with with Lincoln, his untimely death was followed by the first official act in Lyndon Johnson's presidency rescinding the executive order (#11110) that created the JKF "notes".
Establishing debt-free money, as mandated by the Constitution, is one of the prerequisites for liberty. Of course, money based on nothing (as Linclon's "greenbacks") can be freely printed to allow all kinds of government mischief (Lincoln printed only $441 Million). This is why our founders mandated that our money be based on gold and silver, for the reason that real gold and silver, used as money throughout history, cannot be printed at will, thus putting a lid on government largesse and corruption.
These reasons are why Ron Paul advocates abolition of the Federal Reserve, a private bank whose books are kept secret, and establishing a money system that is not only a measure of value, but also a "store of value" - money whose growth is limited by its redeemability by some asset, such as gold and silver.
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Because you come from what used to be called "Czechoslovakia", I feel sorry for your already inculcated biases. You are probably very distrustful of anything that is run by an institution. However, your understanding of the fiat money system that is used in EVERY country of the world only shows how little you seem to know about it.
For one thing, there is no INEVITABILITY about running out of money, and why would ANYONE want to repay it all anyway?
I think if you read my next article carefully, you will see that not only is a Fiat system BEST, it is the ONLY system that will work in a modern world.
Driving through the night, I caught a bit of a stray radio program that challenged what I have always heard about Executive Order #11110. The program claimed that Pres. Reagan was the one to rescind the order but that in any case, the #11110 was about a different subject than what we normally subscribe to it; that the whole myth originated with an erroneous editorial in the Spotlight which they soon after retracted. I'd like to look into this further to find out the truth of it. Does anybody have any original source cites on the EO #11110 story?
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