End the Fed! Return to Gold!
Lew Rockwell Explains it All!
“The power to create money is the most ominous power ever bestowed on any human being. This power is rightly criminalized when it is exercised by private individuals, and even today, everyone knows why counterfeiting is wrong and knavish. Far fewer are aware of the role of the federal government, the Fed, and the fiat dollar in making possible the largest counterfeiting operation in human history, which is called the world dollar standard. Fewer still understand the connection between this officially sanctioned criminality and the business cycle, the rise and collapse of the stock market, and the continued erosion of the value of the dollar.”
Those are the words of one of the most important champions of sound money in this age.
Lew Rockwell has been extraordinarily effective in the fight, on the front lines of the battle, and always in key positions. Lew was a former editorial assistant to the great free-market economist Ludwig von Mises, and later chief of staff for Congressman Ron Paul who was for many years the most knowledgeable monetary expert and gold standard supporter on Capitol Hill. In addition, Lew is the founder and chairman of the Mises Institute, executor for the estate of Murray N. Rothbard, and editor of www.LewRockwell.com. He is the author of Against the State and Against the Left.
Quite a resume.
We want to share a few words from Lew’s recent piece on LewRockwell.com called Bring Back Gold!:
I would venture to guess that a sizeable percentage of even educated adults would be astounded to discover that the Federal Reserve does more than manage the nation’s money accounts, that, in fact, its main activity consists in actually creating money that distorts production and creates inflation and the business cycle. In fact, I would go further to suggest that many educated adults believe that gold continues to serve as the ultimate backing of our monetary system, and would be astonished to discover that our money is backed by nothing but more of itself.
We have our work cut out for us, to be sure, mainly at the educational level. We must continue to state the obvious at every opportunity, that the fiat system is exactly what it is, a system of paper money backed by nothing of real value. We must continue to point out that because of this, our economic system is not depression proof, but rather highly vulnerable to complete meltdown. We must continue to draw attention to the only long-term solution: a complete separation of money and state based on the commodity that the market has always chosen as money, namely, gold…
What has been true for hundreds of years remains true today. The clearest path to the restoration of economic health is the free market undergirded by a sound monetary system….
We want to tip our hat to Lew Rockwell, a great spokesman for both real money and free people. As Lew says, “Let’s do everything we can to end the Fed and restore the real gold standard!”