Oops! Weren’t they supposed to wait until after the terrorist attack? (Read More)
This story has gotten very strange, very fast. N Korea. Practice run for Iran. American Pilots. Air Defense. Who Knew. Who didn’t.
Daily Archives: 6 September 2007
Inflation
I started paying attention to our monetary system since watching the very disturbing America: Freedom to Fascism.
Two Ron-Paul clips about how inflation happens:
–Speech in Iowa — inflation is often a transfer of wealth from the working masses to the bankers and government institutions that spend newly-printed (and not yet inflated) money.
–On the floor of Congress discussing the integrity of the dollar.
The occasion for this post is this: The Federal Reserve (which is about as federal as Federal Express) has just injected $31.25 BILLION into the economy. I think the key to understanding this is picking apart the process behind the word “injected.” It results in the transfer of wealth described by Ron Paul in the clip above. That’s not to say money should never be printed, but it ought to be done by Congress, as specified in the Constitution. In 1913, they abrogated their responsibility by creating the private and very secretive Federal Reserve.