Go up to somebody on the street and ask them what do they know about the one dollar bill, and where did it come from, you would probably get a reply with something like 'The Government prints it'.

I found this on Gold Vs Fiat currency, It's a good read.




I guess an old Fart like me have learned something today.




321 Gold Link

I hope you all enjoy this read, I know I have. Follow the links for more Info.

Mods if this is in the wrong section Please move it Thanks.

to understand why fiat money came into being, one needs to do research from the 1700's and 1800's on how many times the government tried to make precious metal "money" work. the violent swings in the nations economy during that time facilitated the creation of fiat money.

now having said that, i think control of our monetary system through the use of fiat money, should be more closely watched and controlled by our elected leaders. the fed has gained incremental control over the last 80 or so years, to the point of being harmful to our economy.

All you have to do to eliminate the entire concept of fiat money is destroy the power of fractional reserve banking and leverage.

That way all money, be it fiat or hard, must be created into existence by effort.

We face problems atm because money was being lent into existence. Its a bloody miracle that inflation didn't take hold... but in a way it did (asset prices went up). CPI only focuses on food. Nobody buys excess food just because they can... what they do is buy art, antiques, stocks, shares, houses, cars etc- and just look at the price of those.

Well...Did you know that the US government went bankrupt in 1934? And did you know that all Americans were ordered, under penalty of arrest if they refused to turn over their gold the the FED? Have you ever heard of the Creature from Jackal Island? Read here:

Congressman McFadden on the Federal Reserve Corporation
Remarks in Congress, 1934 AN ASTOUNDING EXPOSURE
www.afn.org...

and here:
www.jesus-is-savior.com...

Thomas Jefferson, declared, "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."

Did Jefferson have a crystal ball when he spoke these words? Has a private banktaken control over our nation's money supply?

ARTICLE 1, SECTION 8 OF THE CONSTITUTION STATES THAT CONGRESS SHALL HAVE THE POWER TO COIN (CREATE) MONEY AND REGULATE THE VALUE THEREOF.

IN 1935 THE SUPREME COURT RULED THAT CONGRESS CANNOT CONSTITUTIONALLY DELEGATE ITS POWER TO ANOTHER GROUP. (Reference 22, P. 168)

The FED began with approximately 300 people or banks that became owners (stockholders purchasing stock at $100 per share - the stock is not publicly traded) in the Federal Reserve Banking System. They make up an international banking cartel of wealth beyond comparison (Reference 1, 14). The FED banking system collects billions of dollars (Reference 8, 17) in interest annually and distributes the profits to its shareholders. The Congress illegally gave the FED the right to print money (through the Treasury) at no interest to the FED. The FED creates money from nothing, and loans it back to us through banks, and charges interest on our currency. The FED also buys Government debt with money printed on a printing press and charges U.S. taxpayers interest. Many Congressmen and Presidents say this is fraud.

If we eliminate the FED and uphold the Constitution, we could balance the budget and cut personal income tax to almost nothing. In Congressional hearings on September 30, 1941, FED Chairman Eccles admitted that the FED creates new money from thin air (printing press), and loans it back to us at interest. On June 6, 1960, FED President Mr. Allen admitted essentially the same thing (Reference 22, P. 164). If you or I did this we would go to jail.

American has been swindled, plain and simple.

Hmmm, maybe the Congress should Nationalize the FED instead of the banks per se.

reply to post by autowrench

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Wow!, Thanks for the read, a long one at that. Congressman McFadden sounded like another Ron Paul, and as usual nobody listened.






[edit on 16-1-2009 by tiso_us]