Let's End the Money Racket (Part VI)
Further Review, Consideration, and Exhortation - Almost There!
Having understood that the problems of funding government, creating a uniform currency, and overcoming a perceived shortage of money were very real problems at the time of our nation’s founding, and having understood that statutory counterfeit was the proposed and eventually accepted “solution” to these problems under the Lincoln Administration, it is easy to show that the Federal Reserve System created in 1913 under the Wilson Administration and exacerbated in 1933 and 1971 by the Roosevelt (FDR) and Nixon Administrations, respectively, were mere escalated manifestations of an already corrupt money supply. In effect, the cries to “End the FED” that originated during Ron Paul’s bid for the GOP presidential nomination in 2012 — although believed to have been what would eventually become, but did not, a permanent solution — would have been, but a temporary palliative to eliminate the ever-increasing national debt and restore to some extent competition in America’s banking industry. In the end, the “End the FED” and “Occupy Wall Street” movements of this recent epoch were never intended to eliminate the root cause of our current malaise. This was unfortunate then, just as it is now. But, both movements failed, and the ill has persisted and grown worse.
I once asked Ron Paul via a third-party host in an online interview whether it was ever his intention to eliminate fractional reserve banking, and he clearly responded that it was not.
Indeed, the world has not known a true large-scale real money standard since before the close of the Dutch Golden Age — ironically founded on silver coin — during the late 17th century.
By the time of our nation’s founding in 1781 under the Articles of Confederation (1781-1789) the Bank of England (1694 to present) and the institutionalization of statutory counterfeit had been in existence for nearly a century. The Bretton Woods Agreement, that the Nixon Administration exited in 1971 some 277 years later was just as phony as the several, so-called gold standards that had buoyed the British Empire, and that had led up to to the Agreement.
Since 1971 we have been left with something that is no longer even counterfeit, for the precious metals that once formed the basis for our phony money supplies have been relegated to investment commodities like wheat, rice, corn, and sugar whose prices are determined not by the productive cooperation of nature and labor, but by arrogant, establishment elites who believe that they can control the temperature of the earth. Like a bad joke, what was once real-money is now being traded as a very real hedge by the very same who issued and purchased the bad debt against which they are now hedging. Indeed, rather than promoting precious metals as the best supply of money possible, these establishment scoundrels are using these metals to ride piggy-back on the reckless monetary policies to which they are the chief contributors! What is worse, many are just playing along, as if this is the way the game has always been played, and should forever be played into the future! The Great Reset is not an illusion!
No, it is long past time that we restore the natural order of real money. It has been 330 years, and it is plenty long to have watched these thieves fail time and time again as they have sought to control their own cunning and greed to our great dismay.
And then, there are the charlatans in academia who would have us believe that our current money supply depends on our faith in the US government, when, in reality, it depends on how long we are willing to be led around like burdened donkeys or become permanently enslaved by a federally approval digital currency (CBDC - Central Bank Digital Currency) should we one day — perhaps, one day soon, if we do not readily resist with all of our might — allow it to come about.
Fortunately, there is a way out of the current malaise, but no one can or will do it for you. You must speak out. And, you must be able to offer an acceptable alternative to the corruption currently in place. For the moment, I can only provide you with an acceptable alternative, exhort you to speech and action, and point you in the right direction. I can neither force you to the well, nor compel you to drink. You must want the water that will purify your soul and that of your nation. This purification will not come from those who benefit while the well is poisoned, only from those who suffer from its effect — namely, US, the People of the United States and the rest of the world.
The money that we use today has moved far beyond the initial use of real money — a medium of exchange across time and place that ties us closely with the environment that provisions our material well-being. Rather, today’s money has become an artificial pump used to transfer real wealth from those who use it as a medium of exchange to those who issue and lend it into existence as a tool of real wealth transfer.
Alas, the notion of real wealth trickling down only makes sense, if the buying power of those at the bottom is not being evaporated upward by those who have mastered the art of debt, deception, and punishment.
Under the current system of relentless price inflation — and I am speaking, neither of the accelerated price inflation that we have experienced during the past three years going on four, nor that of the Nixon and Carter Administrations that was similarly high — the relative price of labor to output is forever less than one. In brief, our paper wages are forever playing catch-up to the paper price of our output — the price that we must pay to sustain our respective real households. This is not how it should be.
It does, however, give unions good reason to organize and demand higher wages, rather than spend their time producing more real wealth as free and voluntary market agents who earn an honest real wage. Indeed, have you not ever wondered why unions are forever complaining about the cost of living, but never about the money supply that is causing the cost of living to rise? Like those who prosper from the sale of precious metals as a hedge against inflation, organized labor is cashing in on the corruption.
OK. I have presented my case with a final exhortation. Next time, we will start on the alternative, and once provided we will compare what I am proposing with Bitcoin and other energy consuming alternatives that are a dead-end for the environment and depend on a global infrastructure that is vulnerable to attack by malicious actors.
In the meantime, think of all of the “golden” hats and shoes that you were offered by the Trump campaign — to say nothing of the “platinum” credit cards that you receive in your “hard” mail box on a weekly basis. Notice too, how the new-coming Trump Administration is saving its nomination for Secretary of Treasury until the end. Indeed, the incoming administration has no intention of reforming our nation’s money supply.
I voted for Trump because running a government the size of the US Government is a complex, multi-faceted task with many moving parts, and because the incoming president will address most of the momentary problems that are crucial to the survival of the American state. I did not vote for him because his son, Barron, embraces crypto-currency. In like manner I no more trust President Trump with our nation’s money supply than I trusted any of his recent predecessors.
Until our money supply is wrested back into the hands of the people, we will remain the exploited subjects of those who control it. In this regard, I can only hope that Trump will be different, but I am not crossing my fingers; rather, I am appealing to You, the People, to compel his hand. No one can do it alone.
I am speaking from the heart and wish Mr. Trump my very best.
The time is rapidly approaching. Let’s get moving!
See you next week.
In liberty,
Roddy A. Stegemann, First Hill, Seattle 98104
Author of Mount Cambitas - The Story of Real Money and A Call for the Restoration of Monetary Order (Parts I and II)