"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." (letter to J. Bowen, Rhode Island, Jan. 9, 1787) "If ever again our nation stumbles upon unfunded paper, it shall surely be like death to our body politic. This country will crash."
--George Washington
"The Central Bank is an institution of the most deadly hostility existing against the principles and form of our Constitution. I am an enemy to all banks, discounting bills or notes for anything but coin. If the American people allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."
--Thomas Jefferson
"It is apparent from the whole context of the Constitution as well as the history of the times which gave birth to it, that it was the purpose of the Convention to establish a currency consisting of the precious metals. These were adopted by a permanent rule excluding the use of a perishable medium of exchange, such as of certain agricultural commodities recognized by the statutes of some States as tender for debts, or the still more pernicious expedient of paper currency." --President Andrew Jackson, 8th Annual Message to Congress, December 5, 1836
"We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people." --Daniel Webster
(all quotes emphasis mine)
Free people, a man in a Constitutionally illegal post presiding over a Constitutionally illegal department of the Federal Government doesn't believe that gold is money. Is anyone really surprised? This is another example of slight-of-hand by the central bankers. While the general public is hypnotized by the circus going one between the outright marxists of the DNC and the outright imperialists of the GOP, the FED continues to march on, unrestricted, unchecked, unaffected.
People care more about the pouting and the pushing and the party lines in the White House and on Capitol Hill, worrying whether or not the country will go into default or what plan may preserve our economy. "We must prove the other side is ignorant and wrong, getting our talking points from our favorite radio and T.V. personalities." All the while missing the point: We are already in default. We, as a nation, are bankrupt. The global economy is propped up by a number of zeros in an electronic account somewhere in Washington D.C. We started down this path over a hundred years ago, and have traded wisdom for folly every year ever since. The dollar has lost 98% of its value from 1913. What is happening in Europe will be at our door before the next election.
Look for a new blogs on Constitutional Eligibility next Monday, 7/18/11, and on the financial situation next Wednesday, 7/20/11. Subscribe by email to receive updates!
This is our finest hour.
Brilliant research and great writing. Bernanke's comments are chilling to the bone...
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