Pull a quarter out of your pocket. Note the orange ring around the edge.
This is copper. Prior to 1965 coins like dimes and quarters were made
out of silver. Today they are nickel-coated copper,
not silver. Even pennies have been "debased." According
to the U.S. Mint,
The [pre-]1982 copper cent weighs 3.11 grams and is 95%
copper and 5% zinc. The current copper-zinc cent weighs 2.5
grams and is 97.5% zinc and 2.5%
copper.
Who do you think profits from the substitution of less-expensive copper
for silver and cheaper zinc for copper? Answer: not
you.
And if you think there are profits to be made by debasing coins,
think about how much can be made with paper money and the government
printing presses! Then consider that most of our money is nothing more
than electronic blips in the bank's computers.
By inflating the money supply -- debasing the currency -- our
government has engaged in systematic theft on a massive scale.
And whenever the government and its friends create new money, it
makes each dollar you have worth less.
The government steals purchasing power from you and redistributes it
to its supporters. The government buys votes with your future.
"Debasement
of the currency" has always been understood to be immoral, the
strategy of an unethical and imperialistic government. Our
nation's monetary system is immoral to the core.
We need Honest
Money. We need Just
Weights and Justice. We do not need a government-imposed
"Gold Standard," however.
Ron
Paul's "Honest Money Act"
- Read how Thomas Jefferson rejected a proposal using the principle
of "enumerated powers":
- Jefferson's
Opinion on the Constitutionality of a National Bank, 1791 - The
Avalon Project at Yale Law School
Monetary
Central Planning and the State
by
Richard
M. Ebeling
- Part
1:
A Little Bit of Inflation Never Hurt
Anyone. Right?
- Part
2:
The Rationale of a Stable Price Level for
Economic Stability
- Part
3:
The Federal Reserve and Price-Level
Stabilization in the 1920s
- Part
4:
Benjamin Anderson and the False Goal of
Price-Level Stabilization
- Part
5:
The Austrian Economists on the Origin and
Purchasing Power of Money
- Part
6:
Ludwig von Mises and the Non-Neutrality of
Money
- Part
7:
Friedrich A. Hayek and the Destabilizing
Influence of a Stable Price Level
- Part
8:
The Austrian Theory of Capital and
Interest
- Part
9:
The Austrian Theory of the Business Cycle
- Part
10:
Austrian Business-Cycle Theory and the
Causes of the Great Depression
- Part
11:
The Great Depression and the Crisis of
Government Intervention
- Part
12:
The Austrian Analysis and Solution for the
Depression
- Part
13:
FDR’s New Deal
- Part
14:
The New Deal and Its Critics
- Part
15:
John Maynard Keynes and the “New
Liberalism”
- Part
16:
Keynes and Keynesian Economics
- Part
17:
Keynesian Economic Policy and Its
Consequences
- Part
18:
Say’s Law of Markets and Keynesian
Economics
- Part
19:
Savings, Investment, and Interest and
Keynesian Economics
- Part
20: Keynesian
Economics and the Hubris of the Social
Engineer
- Part
21:
The Keynesian Revolution and the Early
Critics of Keynes
- Part
22:
The Chicago School Economists and the
Depression
- Part
23:
Henry Simons and the “Chicago Plan”
for Monetary Reform
- Part
24:
Milton Friedman’s Framework for Economic
Stability
- Part
25:
Milton Friedman and the Demand for Money
- Part
26:
Milton Friedman and the Economic “Rule”
for Stability
- Part
27:
Milton Friedman’s Second Thoughts on the
Costs of Paper Money
- Part
28: The Chicago
and Austrian Economists on Money,
Inflation, and the Great Depression
- Part
29: The Gold Standard in the 19th
Century
- Part
30: The Gold Standard as
Government-Managed Money
- Part
31: Ludwig von Mises on the
Case for Gold and a Free Banking System
- Part
32: Friedrich A. Hayek and
the Case for the Denationalization of
Money
- Part
33: Murray N. Rothbard and
the Case for a 100 Percent Gold Dollar
- Part
34: Free Banking and the
Political Case against Central Banking
- Part
35: Free Banking and the
Economic Case against Central Banking
- Part
36: Free Banking and the
Competitive Limits to Monetary Expansion
- Part
37: Free Banking and the
Market Demand for Money
- Part
38: Free Banking and the
Coordination of Savings and Investment
- Part
39: Free Banking and the
Benefits of Market Competition
- Part
40: Towards a System of
Monetary and Banking Freedom
|
|
|
Competition in Currency
From the Blog
LewRockwell.com
