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Showing posts from December, 2011

Lunch with Ron Paul

Ron Paul published Gold, Peace, and Prosperity in 1981.  What makes his pamphlet especially attractive today is the speed with which it can be consumed.  A reader could get through his robust prose during an hour lunch break.

But why would a reader want to do that?  Why not read one of Paul’s more recent books instead, even if it couldn’t be read in one sitting?

The answer is, the earlier work provides an excellent foundation for his later writings.  It offers a clear, non-technical summary of his views on money and the economy.

Ron Paul has made his mark as an advocate of sound money.  As such, he is totally opposed to fiat money and its imposition through the government-supported cartel, the Federal Reserve.  It is largely through a hijacked monetary system that government has become a threat to civilization.  In this pamphlet, Paul puts it all in perspective with everyday language, as if he’s talking to you - over lunch.

Sound money, he says, is money that is “fully redeemable.”  T…

Finding Hope in a World of Perpetual War

Because I'm free
Nothing's worrying me.
from
“Raindrops Keep Falling on My Head” by Hal David and Burt Bacharach
It takes time to steal a wise man’s freedom.  He can’t be talked out of it.  But he can be made to give it up for something higher.  What’s higher?  Why, his country, of course.  What is his country?  He doesn’t know exactly.  Whatever it means it can’t omit the government.  The government, he learns in government schools, is a vital part of the better things in life.  

It started long ago, well before even the oldest among us were alive.  Ruthless exploiters had taken over the economy.  What was needed was regulation, we were told.  Not market regulation - not the profit and loss kind, which only fed the cutthroats of the world - but government regulation, the kind that uses government ways.  Free markets, we were assured, meant scoundrels were free to chew up innocents.  With government regulations and the institutions they created we would have nirvana.  The bad …

Morgan Monetary Piracy

When a major fractional-reserve breakdown occurred in 1907, Thomas Woodrow Wilson, then president of Princeton, endeared himself to the banking movement by declaring that "all this trouble could be averted if we appointed a committee of six or seven public-spirited men like J. P. Morgan to handle the affairs of our country." [Griffin, p. 448] Colonel Edward Mandell House, a close Morgan associate who served as shadow president when Wilson was elected to the White House, became the "unseen guardian angel of the [banking] bill" that emerged in 1913. [Griffin, p. 459]

Originally drafted at a secret meeting of banking elites at Morgan's hunting lodge on Jekyll Island, Georgia in November, 1910, the Glass-Owen Bill, as it was finally called, overwhelmingly passed the House and Senate on December 22, 1913 and was signed into law by Wilson the following day. [Griffin, p. 468]

The Fed began operations in November, 1914, with Morgan men occupying key positions. The new …