Ayn Rand

“If you want to know when a society is set to vanish, watch the money. Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of moral existence. Destroyers seize gold and leave to its owner a counterfeit pile of papers.”

Advertisements

One response to “Ayn Rand

  1. Too true. The job of the Federal Reserve is to concetrate the purchasing power of the nation by dictating a fiat currency, printing lots of funny money, then giving it all to the government and the banks. The value of a good or service is based on the value of those goods and services relative to one another and the total amount of money in circulation. If you double the money supply and give the entire 100% increase to government, then you have just handed the government half the purchasing power of the nation, and half of the nation’s real wealth in goods and services. The more you do it, the more of the nation’s wealth is confiscated and the less real purchasing power any single individual will possess. It is a system which breeds government reliance and dependency; taken to its logical conclusion, the result is Zimbabwe or the Weimar republic. It is also the system that allows the government to engage in high-cost wars and welfare spending, since the amount of taxation such things would require would be prohibitively high under a true free-market system (i.e. no Fed Reserve). Look back in history, and you will see that governments throughout history have funded their wars through clipping coins, clad coins, fiat money, and other ways of devaluing the money supply. The single best way of stabilizing the currency and restricting the power of the government and the banks is to institute a gold standard and outlaw fractional reserve banking. When government’s role in the money supply is limited to setting weights and measures, a nation prospers. When government is allowed to play with money, a nation collapses.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s