"Posterity, you will never know how much it cost the present generation to preserve your freedom. I hope you will make good use of it. If you do not, I shall repent in heaven that ever I took half the pains to preserve it." -John Adams
Welcome to Patriot's Lament. We strive here to educate ourselves on Liberty. We will not worry ourselves so much with the daily antics of American politics, and drown ourselves in the murky waters of the political right or left. Instead, we will look to the Intellectuals and Champions of Liberty, and draw on their wisdom of what it is to be a truly free people. We will learn from where our Providential Liberties are derived, and put the proper perspective of a Free Individual and the State. Please join us!
Tuesday, September 25, 2012
and a little child shall lead them...
Hey David!! I just found out Canada's banking system is just like ours!!! Watch out!
If only everyone in both countries knew this truth.
The problem with the Fed isn't that it is private, or that it charges interest, but that it has a legal monopoly on the issuance of what is called money. Fractional reserve bankers must have legal protection from their depositors. Politicians (whether Kings or representatives or presidents) must have ways to secretly steal money from the productive element of the region they rule. It is a match made in hell.
If the Federal Reserve weren't granted legal monopoly and its member banks weren't legally protected from charges of fraud for lending long and borrowing short it and they would be driven out of business by market forces.
Money is a free market invention. Giving control over its issuance to a government is the first step to the ruination of the economy.
The problem with the Fed isn't that it is private, or that it charges interest, but that it has a legal monopoly on the issuance of what is called money. Fractional reserve bankers must have legal protection from their depositors. Politicians (whether Kings or representatives or presidents) must have ways to secretly steal money from the productive element of the region they rule. It is a match made in hell.
ReplyDeleteIf the Federal Reserve weren't granted legal monopoly and its member banks weren't legally protected from charges of fraud for lending long and borrowing short it and they would be driven out of business by market forces.
Money is a free market invention. Giving control over its issuance to a government is the first step to the ruination of the economy.
Jim in Kenai