We all keep hearing how minimum wage is never enough and prices keep going up. Why? Devalued money is why. Our dollar is based on debt not actual value. Remember when a dime was a dime’s worth of silver? Me either I wasn’t born yet. We just grew up with this federal reserve fiat money. What value the government gives government can take away. The more you print with no value to back it up the less it’s worth. That means it takes more to buy the same product than it used to. Thomas Jefferson warned us of this :
“I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” — Thomas Jefferson — The Debate Over The Recharter Of The Bank Bill, (1809)
Here’s a cool US Inflation Calculator. See for yourself
by Glenn McCoy
Today, it takes $14,501 to buy what took only $10,000 in 2000.
Source: U.S. Bureau of Labor Statistics’ CPI Inflation Calculator
This week in history was a bad week for the private ownership of gold. On August 28, 1933, President Franklin Delano Roosevelt issued an executive order prohibiting the “hoarding” of gold by Americans. Private citizens were required to surrender any “gold coin, gold bullion, and gold certificates” they owned. The order also placed limits on the export of precious metals.
–SNIP– The printing presses have never stopped since.
Read more by Chip Wood at Personal Liberty
What’s really in your wallet?
YouTube, 4:11, http://www.youtube.com/watch?v=hTWSJGxOVLY
Prior to the election of America’s longest serving socialist president, our money was backed by gold. Anyone holding our paper currency could demand to exchange it for gold at a set price. In 1913, the gold standard was officially made part of the Federal Reserve and the price of gold was fixed at $20.67 per ounce. The same law mandated that the Federal Reserve kept enough gold on hand to equal 40% of the currency issued at the time.
–SNIP– On this day, June 5, 1933, Roosevelt, with the aid of Congress, finalized his plan to take America completely off the gold standard. No longer was our currency backed by gold. Instead, our currency was basically valued at the value placed on it by the Federal Reserve, which also played an important role in international banking and currency values. All gold coins and bullion was required to be turned over to the Federal Reserve. No private ownership of gold coins or bullion was allowed in the US.
Read more at Constitution.com
1. Rights belong to individuals, not groups; they derive from our nature and can neither be granted nor taken away by government.
2. All peaceful, voluntary economic and social associations are permitted; consent is the basis of the social and economic order.
3. Justly acquired property is privately owned by individuals and voluntary groups, and this ownership cannot be arbitrarily voided by governments.
4. Government may not redistribute private wealth or grant special privileges to any individual or group.
5. Individuals are responsible for their own actions; government cannot and should not protect us from ourselves.
Read more by Ron Paul at LewRockwell.com
My name is David and I am an OPM addict.
Actually, that is not true; I am not addicted. I might be one of the very few people in this house who is not, because addiction to OPM is a national crisis and I am surrounded by addicts.
I am not talking about the drug opium but something far more terrible. I am talking about an addiction to other people’s money.
The great economist Milton Friedman taught us that there are four ways to spend money: spending your own money on yourself; spending your own money on somebody else; spending other people’s money on yourself; and spending other people’s money on somebody else.
[This speech was delivered by Australian Senator David Leyonhjelm on the floor of the Australian Senate Chamber in Canberra on Tuesday, September 23]
Read more at OpenAustralia.org.au