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Shahla
Money Managing Guru
Joined: 13 Nov 2004
Posts: 3324
Cash Points ££ 126163.28
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 Posted: Thu Feb 01, 2007 6:25 am Post subject: The Dismal Science of Phony Money: A Rejoinder |
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John Maynard Keynes was a champion of the elite money changers, an intelligentsia proponent of the dismal science of phony money - a hired gun. Keynes did not get much right regarding monetary theory, however, in one of his more lucid moments he hit the mark when he stated: "Lenin was right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." [2]
That is some pretty heavy stuff: overturning society by destroying the currency of a nation, by using hidden forces that not one in a million are able to understand. However, Keynes knew this to be the truth, as he was one who was without equal in the debauchery of our currency; until Alan Greenspan took the stage - the reincarnation of John Law.
Ayn Rand nicknamed Sir Alan the undertaker, a most fitting title for the head of the Federal Reserve, under whose watch more debt was created then in all previous administrations combined. A world record that will most likely stand adamant against the passing ages.
How does one explain the behavior of Keynes and Greenspan, whose monetary policies destroyed the purchasing power of our money? There are not many "above" these infamous players that are in the class of one in a million that understands, nevertheless there are a few, as the following quote by one of the Rothschilds clearly expresses: "The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." [3]
Nonetheless, opposition still exists, as this paper is a testament thereof. It is in the spirit of finding the truth and dispelling the forces of economic law on the side of destruction, be it done knowingly or unknowingly - that the following is offered.
1933 REVISITED
It is true that in 1933 the government, under the auspices of President Roosevelt, confiscated all private holdings of gold, and made it illegal to own gold as private property. For a more detailed discussion of the gold confiscation see Social Security: The New Deal - A Raw Deal, Part 5 .
Once the confiscation took place, it is incorrect to say that we were any longer on the gold standard: we were not, as gold was now illegal to own. It was considered a crime to own one of the two metals that our Constitution mandates as legal tender:
Article I, Section 10, Clause 1 . "No State shall...coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt." [4]
Note the wording "emit bills of credit". This is a reference to paper money, aka Federal Reserve Notes. For a more detailed discussion see the series The Constitution of the United States & Honest Money .
It is incorrect to say that the currency was backed by gold once Roosevelt issued any of the following: Presidential Executive Order 6102 ; the Emergency Banking Relief Act of 1933 US Statutes at Large ; and the 1934 January 31 Presidential Proclamation (no. 2072) of Franklin D ...The Gold Reserve Act . For a more detailed explanation see: Letter to Congress
The currency was no different then the markers that a riverboat casino issues to an addicted gambler that has not the means to fulfill his contractual obligations. Even the Federal Reserve knows this to be true:
"Neither paper currency nor deposits have value as commodities, intrinsically, a 'dollar' bill is just a piece of paper. Deposits are merely book entries." [5]
Full article - http://www.marketoracle.co.uk/Article288.html |
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