End the Fed

Mistletoe, despite it’s connotations with Christmas, is in fact a parasite that feeds off of trees until it kills its host. This is done very slowly over a period of many years so as to suck the most amount of wealth from the host while delaying its inevitable demise. Such as is the case with the Federal Reserve Bank that parasitically steals the productivity of the American populace through devaluing the dollar by over 95% since 1913, which has only been possible thanks to the complicity of the traitorous US Congress who sanctioned all of it.

 

 

Dr. Ron Paul hails from the Austrian school of economics. His influences were F.A. Hayek, Hans Sennholz, Murray Rothbard, and of course, Ludwig von Mises. He describes his experiences as a youngster with the decoupling of the gold standard from the dollar, increased dollar devaluation through inflation, and how his family survived the 1970s thanks to the underground economy. To claim that Dr. Paul is a fervent Goldbug is to understate the case.

His interactions with former and current Chairmen of the Federal Reserve are quite enlightening. With regards to Alan Greenspan, Dr. Paul noticed that they both were devotees of philosopher Ayn Rand. In an attempt to resolve how they ended up on opposing sides, Dr. Paul brought with him to a photo op a copy of the original faded green Objectivist newsletter edition where Greenspan had written his 1966 article, “Gold and Economic Freedom.” During this short visit, Dr. Paul asked Greenspan to autograph the article and whether if he’d like to put a disclaimer on it, to which Greenspan replied that he had just recently reread it and still stands by everything he wrote. This would suggest that even the banksters value gold for some reason, even if the clueless American mainline public does not. “Helicopter” Ben Bernanke is simply very evasive and secretive under Congressional questioning.

Paul presents what I think is the most eloquent argument for total abolishment of the Federal Reserve Bank according to the philosophical/moral, constitutional, economic, and libertarian contexts. The philosophical case is essentially that it is blatantly immoral to steal (in this context of this situation, by counterfeiting). The constitutional case is that the very issuance of FRNs explicitly violates Article 1, Section 10. The economic case is that “elastic” fiat currencies always fail because they do not retain the value of the people’s productivity since totalitarian governments have this very bad habit of stealing wealth through inflating and borrowing. The libertarian case is that central economic planning (which necessarily occurs if a country has a central bank) is antithetical to the tenants of Liberty. Considering the rampant thievery, the rape of the (federal) Constitution, the historical detriments of running a nation into the ground by debasing the currency, and central economic planning, you’d think that the cumulative cases for ending the Federal Reserve System would be overwhelming enough to take the spotlight of mainline political discourse and not just in dissident circles.

I had mixed feelings regarding Dr. Paul’s suggested treatments for what ails the body politic. “Speaking out” publicly against the Fed and reading regularly updated libertarian websites are important yet quite limited for the very simple reason that “awakening” people en masse has a terrible track record (as opposed to helping people see through the fog in small/local groups as well as on a one-on-one basis). The good doctor’s Foundation for Rational Economics and Education website redirects towards a non-English page, so I’ll just assume it’s been taken down (may I suggest the Foundation for Economic Education as a viable alternative?). Campaign for Liberty has some potential social networking capabilities (feel free to take a look at my old C4L profile), but since the demise of Dr. Paul’s 2012 presidential campaign they seem to be exclusively focusing on legislative remedies. Deregulating the banking industry, repealing legal tender statutes, and auditing the Federal Reserve are all notable goals; however, they are outside the power of the common man since the only ones with the power to perform those functions are the duplicitous Congress (for the sake of saving everyone time and grief, writing your congresscritter stating you support these goals and asking them nicely to vote on the floor for bills that push them simply does not work).

Other recommendations seemed more plausible and within the grasp of the forgotten man. Preparing for hyperinflation is wise, considering it is one of the mathematically inevitable consequences of the Federal Reserve’s malfeasance. Establishing alternative currencies are probably the long-term solution, such as ones based on mutual credit, time dollars, self-issued credit vouchers, or even completely digital money. I was particularly pleased that the good doctor endorsed the underground/counter-economy, even though it inherently violates mala prohibita by trading goods and services in the grey and black markets. Considering the likelihood of socio-economic collapse (especially due to hyperinflation), it was very good of Dr. Paul to recommend that people take self-defense seriously by preparing for combat.

Ron Paul’s End the Fed, while containing some decent methods for surviving the Fed’s destruction of the dollar, fails to present a cohesive strategic plan for actually ending the Fed! The thrust towards the end seemed to be in favor of legislative remedy, particularly in auditing the Fed as the necessary precursor towards abolishing the damn thing (as I’ve mentioned before, this is done to conclusively prove to the fence sitting congresscritters that the Fed does not have their best interest at heart). Very similar to Dr. Paul’s The Revolution: A Manifesto, End the Fed is best suited to those who just began seeing through the fog of The Left-Right Paradigm. For the rest of us who have been at this for quite awhile, it only serves as further confirmation of what we must do in order to eventually kick the banksters out of the county, once and for all.

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