posted on May, 29 2004 @ 04:06 AM
This is a crackpot pile of junk.
Ok so you have "liberty dollars" backed by gold, basically it says "whoever holds this gets gold owned by me and now it is yours and it is safe in
a warehouse" blah blah blah.
Well that's all and good except what about that some hundred trillion dollars in US Currency floating around? Oh yeah, I guess you forgot about that
huh? There is a LOT OF MONEY because our economy is so HUGE.
And if you want a deflation of currency we can just look at the great depression....see what that did for good ol' Americans.
The fact is our economy grew past the amount of Gold not only owned by the US, but by the world (some currently couple hundred billion dollars worth).
That's about a 1/3rd of our yearly budget.
Also the article is wrong, the Federal Reserve is half opperated by the Federal Government and half Opperated by private interests.
It is a "middle ground" for controlling the market without absolute government control.