Central bank a bad idea
October 23, 2018
Imagine a million. Harder still a billion. Now try trillions, the unimaginable, ever-expanding avalanche of dollars that central banks have dumped into the world's economy. The wealthy become much more so, the rest less so, as poverty devastates entire nations.
No surprise. The transfer of wealth to the wealthy always happens when governments debase their currencies. Fiat money has destroyed every empire that slipped base metal into coins to finance, as if by magic, more conquest and corruption. Remember copper pennies? Silver dimes?
Our central bank, the Federal Reserve System, controls how much money resides in your wallet. Unambiguous mastery of our economy by a secret, for-profit cabal of private bankers not audited for a century and holding the key to Fort Knox. Duh! Thomas Jefferson warned, "The central bank is an institution of the most deadly hostility existing against the principles of our Constitution."
For half of our history, America has prospered without a central bank. Truth is we need not incur another cent of interest on our national debt. Abraham Lincoln issued debt-free Greenback Dollars, as we could do tomorrow.
Donald Trump won and Andrew Jackson's portrait suddenly graced the White House. Old Hickory fought the then-central bank for control of our country. After an epic struggle, he prevailed for 77 years, until our current central bank rose from the dead in 1913.
Trump has marshaled his forces and commenced his crusade, insisting the Fed is a threat, has gone crazy and is "loco." Which side are you on?
Recommended Stories For You
Trending In: Letters to the Editor
- Man arrested for alleged sexual contact in Aspen bar
- Aspen police: State agency assisting in investigation of former Aspen Skiing Co. director
- Skier who died Sunday at Quandary Peak identified
- Backcountry skier killed on Quandary Peak south of Breckenridge
- Business Monday: Aspen native takes second-home experience to Los Cabos