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Fiat Paper Money By Rep. Ron Paul, MD.

Tennesseahawk

Tennesseahawk

Veteran Expediter
What are you saying? You don't understand why he's against the Fed? Here's as good a reason as any...

[FONT=Times New Roman, Times, serif]"Mr. Greenspan once understood that a fiat money system represents nothing more than a sinister and evil form of hidden taxation. When the government can print money at will, it's morally identical to the counterfeiter who illegally prints currency. Fiat money polices especially hurt savers and those on fixed incomes, who find the value of their dollars steadily eroded by the Fed's printing presses."

Do you know what fiat money is? It's money backed by debt. IOW, it's not backed by anything substantive, like gold or silver, or even anything useful, like wheat or oil. It's backed by a person's (or corporation's) ability to spend money they don't have... like they do now.

Out of curiosity... have you wondered why our stock market is hitting new highs while the country goes thru a depression? Exactly like the quote above states... the Fed is printing money that is spilling over into the markets. It is non-sustainable and artificial. I could NEVER put my money in it again. Not after the Fed spoiled it with Monopoly money.
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blackpup

Veteran Expediter
Tennesseahawk, I was trying to understand the term fiat money, when I found Doctor Paul's article. I did not understand the effect fiat money is having on the average persons savings account.

Rlent, I had always wondered about Dr. Pauls comments on the Federal Reserve System. I did not have the background to understand his postion.

jimmy
 
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EASYTRADER

Expert Expediter
Inflation runs about 6% a year. This is the real number not the governemnt number. I was taught this when I was a commodities broker and anyone in the financial sales industry knows this. Inflation = The Buying Power Money Looses over Time. Remember when Gasoline was .89 a gallon, I was in high school, Gas is now 4 bucks, Big Macs were also a .99 cents they are now $4.

So when you put 100 dollars into a savings account 1 year later you will have about 94 dollars in actual buying power.

If you look at a chart of Governemnt Debt for the last hundred years, you will see it remained basically flat. Then in 1972 or 73 President Nixon took us off the Gold standard. From that point on Governemnt debt has been climbing.

During the late 60's, welfare spending took off with Medi Care and Johnsons great society. The governemnt has never taxed enough to pay for those programs, instead they have just printed more money. It is a fact that were are already worse than Greece in Governemnt debt. The reason the greeks are starving and we aren't, is simply the world fears the US military so they haven't demanded we clean up our act.

Once China or India NO longer FEARS the US they will drop the dollar as a currency and the US will colapse. These are not oppinions by the way. It is a finacial realality, th only question is when will this happen?

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EASYTRADER

Expert Expediter
Incodently, the creation of the Euro was an attempt to protect Europe from the colapse of the dollar. However, the euro is also a FIAT currency, so it has suffered from the same issues as the modern dollar.

When China drops the Dollar, the US Governemnt will try and start a war with them most likely over Tiawan.

I used to to talk about this sort of stuff a lot, but my fellow americans are so ignorant its like beating your head against the wall. Oh well, better get your **** in one sock because the major collapse has NOT happened yet. It could come any time. You can't out run the calculator.
 
RLENT

RLENT

Veteran Expediter
jimmy,

blackpup said:
Rlent, I had always wondered about Dr. Pauls comments on the Federal Reserve System. I did not have the background to understand his position.
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Got it.

The entire subject (and history) of "money" is an interesting one indeed ...

I wasn't familiar with term ("fiat money") until relatively late in my life ... and I think that is probably true for many as well ..... which is kinda odd when one thinks about it, given the fact that we all dependent on it on a daily basis ....

One would think that it would merit far better treatment generally than it gets in the educational system, and would be treated as something other than a highly specialized subject ....

blackpup said:
Tennesseahawk, I was trying to understand the term fiat money, when I found Doctor Paul's article. I did not understand the effect fiat money is having on the average persons savings account.
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Pretty ugly ain't it ?

Control of a nation's or a society's money supply is something that, if used unscrupulously, can be used to extract the wealth of, and enslave, entire populaces .... save for those select few who really understand the system, and the game being played, and use it to their advantage ....

"Permit me to issue and control the money of the nation and I care not who makes its laws." — Mayer Amschel Bauer Rothschild
 
chefdennis

chefdennis

Veteran Expediter
RLENT wrote"

Control of a nation's or a society's money supply is something that, if used unscrupulously, can be used to extract the wealth of, and enslave, entire populaces .... save for those select few who really understand the system, and the game being played, and use it to their advantage ....
Click to expand...

can be !?!? :D
 
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