- Jun 28, 2008
- Reaction score
- Scottsdale, AZ
- Political Leaning
Stephen Zarlenga said:Infrastructure repair would provide quality employment throughout the nation. There is a pretense that government must either borrow or tax to get the money for such projects. But it is a well enough known, that the government can directly create the money needed and spend it into circulation for such projects, without inflationary results.
First, incorporate the Federal Reserve System into the U.S. Treasury.
Second, halt the banks privilege to create money by ending the fractional reserve system.
Third, spend new money into circulation on infrastructure, including education and healthcare.
Ron Paul said:While a gold standard would be a wonderful thing, we shouldn’t wait for one before we end the Fed… An end to the money-creating power and a transfer of remaining oversight authority from the Fed to the Treasury would be marvelous steps in the right direction.
Stephen Zarlenga is the author of HR 6550, introduced by Dennis Kucinich:
Ron Paul is the author of HR 2768:
Stephen Zarlenga would have us believe that Ron Paul represents the right wing and is opposed to Dennis Kucinich, who represents the left wing. He is pushing the followers of these two men into the streets to throw rocks at each other to see whose bill gets passed. Tweedledum and Tweedledee resolved to have a battle!
But the two bills are identical!!!
Ron Paul said as much when he described this socialist’s wet dream as being a “first step” towards a gold standard – a remarkable claim considering that there is nothing in HR 2768 about the gold standard. I’ll buy you a Double Eagle if you can even find the word “gold” in the 100-word text.
Obviously, free men only use a currency if the bank of issue is holding a reserve of assets (gold or T-Bills in modern times, cattle in antiquity; oil would also work) that they can sell in the event that inflation threatens to turn into hyperinflation. To eliminate this reserve as HR 2768 does is to create immediate hyperinflation.
Without a reserve, the only other alternative is communism. People will use an unbacked currency if the borders are closed behind high fences with sniper towers and the government is filling trenches with the bodies of people who refuse to accept the currency. But then they are not free men anymore.
The claim that the Federal government can just print money and spend it into existence is the stupidest idea EVER! No reserve of gold or T-Bills needed? Woo-hoo! We’ll build our socialist paradise on Ron Paul Bucks!