Our money is worthless?

Question

Whether you are liberal, conservative, republican, democrat, libertarian or whatever, you should take a look at this guy,


Our money system is currently backed by nothing, it is only legal tender, Ron Paul wants to restore the gold standard, so that our money doesn't keep dropping in value.

This is very important as it has been shown in history that currencies without backup of value crash and become worthless.

Also we are currently getting our currency from the Federal Reserve Bank, this bank is no more federal then Fed ex. It is a privately owned central bank with no regulations on currency production, congress has no control of it. no wonder it says in god we trust on it.

On top of that we are paying interests on our money because we loan it from this bank, so we keep loaning more and more to pay the interests, this keeps going and going and going.

No matter how you feel on matters such as gay marriage or abortion or whatever, we need to realize that these problems are VERY real, our market IS going to crash if we just stand and do nothing about it. The only candidate who is willing and yearning to do something about it is Republican Ron Paul.


Take a look at this man, I feel he would greatly help restore our nation.

Your thoughts on these issues?

Ron Paul wants to get stop the federal reserve system and have the government make currency, without interest or loans to repay.

Giovanni Genious: Ron Paul look up ron paul look at his voting record, watch cspan, not cnn but watch the hearings themselves, he is not like the others...

Also Giovanni, watch America:Freedom to Fascism. Ron Paul is interviewed in it.

I already have seen Zeitgeist.

Darkcloud: Ron Paul doesn't want to try new ideas, you are right he didn't come up with it on his own, he borrowed the ideas from our founding fathers and the constitution, please look into it, you will be pleased!

Answer 1

the gold standard isnt the answer ... reforming the banking system and putting the money powers back in the control of congress and the people and taking that out of private hands ie: the federal reserve .... thats the answer .. fiat currencies have actually been shown to work quite well throughout history .. just putting the people in control of it is the solution ..

Answer 2

I don't trust politicians, especially Republicans. Bush promised to do something about mercury in immunizations during the 2004 campaign, and he just vetoed a bill banning mercury in immunizations targeted for children, citing "cost" as the issue. Looks like somebody is in the pocket of the big Pharma companies. Ron Paul isn't any different. If he was, he wouldn't be a Republican.

There is too much money being made by the Federal Reserve and the elite in America from the declining value of the dollar that our system will never change. Watch Zeitgeist: the Movie.

http://www.zeitgeistmovie.com/

Answer 3

Let me just say up-front that I am a Ron Paul fan. While I may not agree with all his ideas, I am glad they have been added to the national dialog where they can be debated and discussed. Being discussed means inaccuracies and untruths can be brought forth.

- "Our money system is currently backed by nothing" - Not precisely true. By law, all U.S. currency must be collateralized (i.e. backed by something of value). Today the Fed collateralizes new currency by buying T-Bills.

Surprisely a small of currency (about $11B) is backed by gold. Huh? Extraordinary claims require extraordinary proof. So for proof, take a look at the Fed balance sheet: http://federalreserve.gov/releases/h41/Current/

- "Ron Paul wants to restore the gold standard, so that our money doesn't keep dropping in value."

There was a reason why every industrial country dropped the gold standard in the 20th century. It put a restraint on economic growth.

Remember when Roosevelt made gold ownership illegal? It was because the government could not expand the money supply to a desparate nation because it was tied to gold.

Read up on the gold standard debate and why it was dropped.

It comes down to: Money, itself, should not have any intrinsic value other than it's ability to stimulate economic activity. Very mild inflation is actually good as it represents a tax on idle money.

What is healthier for an economy?

- A) $100 in cash that sits in a mattress for 30 years but is still worth it's original $100. During that 30 years, it has added nothing to the wealth of the nation

- B) Throw a 1-2% inflation rate in and now people are incentivized to invest in some interest bearing account. Now that $100 becomes actively spent, saved, loaned, and invested. Over the course of a year, that $100 may generate $700-$900 in economic activity. Over 30 years, that active $100 can generate over $25,000 in economic activity which can be represented in new roads, jobs, and houses.

- "the Federal Reserve Bank, this bank is no more federal then Fed ex. It is a privately owned central bank with no regulations on currency production, congress has no control of it."

SL! Time for you to do your research from more reliable sources than fringe conspiratol web sites.

The Federal Reserve System is a congressionally-chartered agency like the USPS and NASA. It is organized with a 100% government agency at the top (the Board of Governors), and branches beneath them that share power and control with member banks. (http://www.federalreserveeducation.org/fed101/structure/ )

The Board of Governors are all appointed for 14-year terms by the president and confirmed by congress. It operates per it's charter and laws set by congress. it is overseen by congress. There is no structure or mechanism for private ownership at this level. Board members are forbidden by law to have any economic interest in a private bank. (Ref: Title 12 chapter 3 of the U.S. Legal Code)

The 12 branches, however, are organized similar to private corporations. Member banks are required to buy shares in their branch. They can vote for 6 of their 9 board members. The shares get a standard 6% dividend. These shares cannot be sold on the open market. Are the Fed branches privately owned? The Fed says 'No' (ref http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm#5 ). Courts have ruled that because of the lopsided control of the branches the member banks, the branches can be considered 'private' for the purposes of tort law (i.e. they can be sued).

- "We are paying interests on our money because we loan it from this bank"

Yes, the Fed collateralizes our money by buying T-Bills on which the Treasury pays interest.

What you did not mention that is that the Federal Reserve returns most of that to the Treasury. Since 1913, it has returned about 95% of the interest it received. That's because by law, income after expenses must be returned to the Treasury. What they keep is what they need to run the Federal Reserve. If they didn't, then it would need taxes.

- You're referencing "Freedom to Fascism" as a reliable source?

I called your reference and raise you one "NY Times" reference.

Please reference http://www.nytimes.com/2006/07/31/movies/31russ.html?ei=5088&en=05c0d0988f58fc50&ex=1311998400&partner=rssnyt&emc=rs for just a cursory overview on how misinformative this movie is. (It would take another movie just to itemize all the misstatements of "freedom to Fascism")


As I said at the beginning, I like Ron Paul. But I do think associating him with easily discredited fringe site allegations is going to hurt him in the campaign.

Answer 4

The government isn't interested in your money, it is interested in you. One of the delusions of people who live in relatively safe times and places is that money is king and everything is for sale. The government doesn't want the money in your pocket, it can print more. It wants your soul, it wants to know what you did, where you did it, who you did it with, it wants your privacy, your freedom, your choices over your life.

Answer 5

One thing you have to admit ,,, the boys we have running this show,, are some smart old cookies ,,if those boys put their heads together and can't fix it believe me ,Whats his name alone by himself didn't come up with the solution,, there is a flaw in his idea ,or those boys who are up there would have put it to work long ago , Wait till you get him in office , then you'll see It's all blow , just like the boys thats up there right now found out ,, aint as easy as it looks ,, its like climbing up a steep ledge < you thought you would just put your hand right there but come to find out,, one wrong move and disaster and that hand hasn't got anyplace to grab,,, nothing,,, its just out there....

Answer 6

Have you seen Fiat Empire? Here's the link:
http://video.google.com/videoplay?docid=5232639329002339531

Answer 7

Our money should be backed up with the gold standard. To the person who responded first---I cannot argue with your answer, either.

Answer 8

Wiser men than you have pondered this.
Who controls the world anyway? It is NOT the government.

Answer 9

Yep. Sad. But this is how they run their consumerism, capitalist trap.

http://www.halexandria.org/dward297.htm

Answer 10

Mabye this will get you notice about money! really great

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