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Jim C.
Member since May 2012
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Fiat Money in Death Throes

- Antal E. Fekete - Gold University

A fine analysis of the problem by Professor Fekete. Whereas other 'commentators' are ready to retreat into the wilderness, back into a world of buffalo robes, campfires, and flint knives (a world made by hand), the more responsible know that our industrial world was made possible by a precious metal backed currency; more, that it's continued existence necessates a return to that standard.

That, of course, is only the first step. The second: getting government off our backs and allowing us, for example, to drill for the abundant oil yet in the earth. And after those first two simple steps? Well, that may be all we need.

Commented 4675 days ago

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Beginning of the headline :"Banking was conceived in iniquity and born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take away that power, and all the great fortunes like mine will disappear -- as they ought to in order to make this a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, then let them continue to create deposits." ~ Sir Josiah Stamp (1880-1941), one time governor of the Bank of England, in his Commencement Address at the University of Texas in 1927. Reportedly he was the second wealthiest individual in Britain... Read More

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