Monday, May 02, 2005
Greenspan's Remarkable 1966 Admission about Gold
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. . . . The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth."
--Alan Greenspan, 1966
The two levers of power that have allowed Gargantua to grow into such a beast were given to it in 1913 with the enactment of the Federal Reserve and the progressive income tax. These two institutions destroyed the idea of "limited government" that the Founders had given us in 1787. The Federal Reserve was granted the legal power to create paper money and thus rob Americans of their wealth surreptitiously. With Richard Nixon's closing of the gold window in 1971, this power then allowed the Fed to inflate the currency at will, which has increased Washington's capacity to depreciate the dollar even further and rob Americans of their wealth even faster. The second lever of power, the progressive income tax, gave to the Federal Government the ability to seize unlimited earnings from productive Americans to buy voter support from vast hordes of special interest groups. [AFR]
Where does it say in the Constitution that activist judges can just make up any law they want? Find out here.
We are living in a 2500 year old matrix of deception. It brings hopelessness and despair to billions of its victims. Everyone caught in its web is trapped, and the trap is in believing the matrix can be fixed.