The headlines out of Europe continue to underscore a painful reality. The present global monetary system, which is built upon fiat money and a distorted application of Keynesian economic theory, has entered the final phase of existence. This phase is marked by loss of confidence in the fiat scheme, reluctant consideration of alternatives, and the decreasing effectiveness of new policy initiatives designed to hold the system together. The economic hardship that accompanies this phase is now evident in Europe. It is only a matter of time before it is unleashed on this nation.
We were warned of this outcome centuries ago.
George Washington’s words to a Rhode Island Senator echo across the centuries.
“Every lover of his country will therefore be solicitous to find out some speedy remedy for this alarming evil. There is no possible substitute for the loss of commerce. Our first grand object, therefore, is its restoration…. But if in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them…. Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”
This truth is still valid in the 21st century, yet is fully understood by very few. Words such as “ruined,” “evil,” “oppression,” “fraud,” and “injustice” are seen as partisan rhetoric in the battle for control of the Federal leviathan – and the paper money that flows so freely to it via the Federal Reserve. Clueless politicians on both sides of the isle do not recognize that this flow of money will soon cease to exist, along with the power it buys. The vacuum left will create a power grab of historic proportions.Details