I was reading another article ripping on Ron Paul this morning (by a republican) and came across this thought in the comment thread that followed.
"In 1913 the Federal Reserve was created and given a government-enforced monopoly on bank-note issue. (That is, only they were allowed to print receipts for gold on deposit.) By 1929 they had printed twice as many Fed notes as there was gold those notes supposedly represented. The crash of 1929 was what happened when everyone simultaneously figured out they had been swindled by the Fed. Hoover's response was not to cut government spending but to increase it. (Ever hear of the Hoover dam?) And the government in general acted not to protect the economy but to protect the bankers, eventually outlawing the use of gold by private citizens in 1933. The Keynesian narrative is total garbage. It predicted nothing, and its prescriptions have never worked."
I personally don't know how to feel about commodity based money (money with metal of value behind it). In theory it makes sense to have something behind every note. But I think in today's society with the internets and what not, keeping track of such stuff in real time would be nearly impossible and extremely expensive. But for our government to dictate that you can't hold onto gold, or silver as it did in the early 20th century seems in direct conflict with personal liberty. So what is the worth of money? they print it, and we get it for our time. Basically the money is not worth its value in gold or silver or any other metal, rather its worth a portion of an individual's life. So in theory, when you tax someone's income, you are taxing their life. You are being charged for living. And not lazy living, rather productive living. Seems a little strange to me.
Yeah I got off subject there, but that's the beauty of having one's own blog. I do what I want. And you are more then welcome to agree, disagree, worship or do whatever you choose.
Maybe the fed can at least make our money more colorful?
When will people realize that life is not fair, and the more that we try force "fairness" by ways of government the worse off that we are going to be.
ReplyDeleteThe idea of "fairness" in home ownership created the worst financial crisis that many of us have seen. Our political leaders wanted us to believe that forcing banks to allow people to by houses with no money down or a poor credit history was a good thing. This legislation is what lead to the housing market boom and subsequent bust. These toxic mortgages that we here about in the news are mortgages people have stopped paying. There is much less of a consequence when you can walk away from a house without losing the 10% you put down up front.
I agree with Mike I believe that less government in peoples buisness is better and I will use this forum to post some of my thoughts.
Wagg
OMGBARACK!!!11!1!! will lead us into a new age of, ummm, something.
ReplyDeleteCHANGE.
YES WE CAN.
also, you need to take off your word verification thing for comments. way more people comment that way.
ReplyDelete