Friday, November 20, 2020

Go Judy!

Dr. Judy Shelton may someday find a seat on the FED’s Board of Governors, but I wonder why she would want it.  She would be sitting among members for whom dishonesty is their profession, whose job is to keep the public confused and looking the other way while counterfeiting the monopoly monetary unit known as the American dollar, a process that draws wealth from those of modest means and awards it to the fat cats who attempt to rule us. 

And make no mistake, she fully understands this.

With competition from the threat of canceling Thanksgiving and Christmas, along with the possibility of being locked indoors for the coming year, I don’t suppose one in ten thousand have even heard of Ms. Shelton or who would give a hoot if they had.  Politicians and the media ring the public’s ears with “cases” and Trump rather than monetary matters and their connection to a darkening future. 

The few who have heard of Judy Shelton have been told her ideas are wacky and dangerous — and they are, to those who benefit from institutionalized fraud.  And what makes her a threat to our overlords?

Comments such as this:

. . . the vision of providing a solid monetary foundation for global free trade was shattered by Nixon’s decision to suspend gold convertibility of the dollar.  

And these:

Inflation is the enemy of capitalism, chiseling away at the foundation of free markets and the laws of supply and demand. It distorts price signals, making retailers look like profiteers and deceiving workers into thinking their wages have gone up. It pushes families into higher income tax brackets without increasing their real consumption opportunities. 

And from the same article,

Inflation makes suckers out of savers.

The FED and a market gold coin standard are polar opposites.  Fortunately for statists, we had a government gold coin standard that FDR criminalized with an Executive Order.  The key to every statist scheme is the money to fund it, and because it can’t be summoned into existence by bureaucrats, gold (and its “hoarding” by the public) was declared recovery enemy number one after FDR took office.

(I’m using the popular word “government” to denote the State.  In today’s narratives the two are used interchangeably, but they shouldn’t be. Our government, the State, is the Rothbardian criminal gang writ large.  In my book Do Not Consent and its movie I argue that the free market provides all the government we need, without coercion.)

Judy Shelton is loathed and feared by our masters, but our masters have brought us to the edge of extinction.  Fortunately, she is far from alone in her support of honest (voluntarily-derived) money.  I offer the following for your consideration:  

“The excellence of the gold standard is to be seen in the fact that it renders the determination of the monetary unit’s purchasing power independent of governments and political parties.” - Ludwig von Mises, The Theory of Money and Credit, p. 416

“When one studies the history of money, one cannot help wondering why people should have put up for so long with governments exercising an exclusive power over 2,000 years that was regularly used to exploit and defraud them.” -  Friedrich A. Hayek, Down with Legal Tender

“Inflation is simply a means to transfer wealth from anyone who has savings in a particular currency to anyone who has debt in the same currency.  With hyperinflation, the value of savings gets completely wiped out and the burden of debt is removed.”  - Peter D. Schiff and Andrew J. Schiff, How an Economy Grows and Why it Crashes, p. 220. 

“The Fed's low-interest policy not only encourages spending and borrowing, it discourages the one thing that best helps people raise themselves into higher economic classes — saving.” - Mark Thornton, The Fed’s War on the Middle Class 

“Funding government through taxation is never enough because the victims might retaliate. What's needed is what we have: the arcane subterfuge of a cloistered cartel. What's needed is a central bank quietly mulcting the masses while it feeds the world's power-holders.” - George F. Smith, “Government’s Perennial Enemy

"The one thing that the globalization of central banking has succeeded in doing is synchronizing disaster." - Gold: The Anti-Bubble

“Counterfeiting is universally condemned by civil governments. . . Why do governments do this? Because they are all counterfeiters, and they deeply resent an invasion of their turf. Laws against counterfeiting in today's world are a form of gang warfare.” - Gary North, What Is Money? Part 2: Precious Metal Coinage 

“The degree of barbarism that [WWI] produced could not have been accomplished had a gold standard been in force. The public would have stripped the banks of the public’s gold. The governments would have had to come to terms with the enemy. It was the abandonment of the gold standard that made modern barbarism affordable.” - Gary North, The Gold Wars, p. 23 

“When economists call for boosting ‘aggregate demand,’ they do not spell out what this really means. It means forcibly overriding the voluntary decisions of consumers and savers, violating their property rights and their freedom of association in order to realize the national government's economic ambitions.” - Llewellyn H. Rockwell, Jr.  

“What the costs of mining produce for society is a restrained state. . .  That such a restraint might be available for the few millions spent in mining gold and silver out of the ground represents the greatest potential economic and political bargain in the history of man.” - Gary North, The Gold Wars 

“If a domestic money consists of a commodity, a pure gold standard or cowrie bead standard, the principles of monetary policy are very simple. There aren’t any. The commodity money takes care of itself.” - Milton Friedman, quoted by Joseph Salerno, Money, Sound and Unsound, p. 366

Unlike natural (voluntary) money production that is regulated by the market forces of profit and loss, inflation is always an imposed increase of the money supply. -  Jorg Guido Hulsmann (paraphrasing) 

Commodity monies have built-in insurance against inflation. -  Jorg Guido Hulsmann (paraphrasing)

"Inflation is not just an extension of the money supply. The crucial point is that it extends the money supply through a violation of property rights. Inflation provides not just gains; it provides illegitimate gains. Its alleged benefits are not really different from the benefits of robbery and fraud." - Jörg Guido Hülsmann, The Ethics of Money Production, p. 100

“The return to gold does not depend on the fulfillment of some material condition. It is an ideological problem. It presupposes only one thing: the abandonment of the illusion that increasing the quantity of money creates prosperity.” -- Ludwig von Mises, “Gold versus Paper

“Everything possible is done to prevent the fraud of the monetary system from being exposed to the masses who suffer from it.” Ron Paul, Feb. 15, 2006.


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