ON MONEY REFORM:
What Do Alan Greenspan & Ron Paul Have in Common?
- Synonomous Views on Gold & the Economy!
By Angelina Lazar
Please Note: BEFORE Greenspan became a Fed Insider, rampant with raving semantics, nebulous inuendoes and dichotomous speech, he once upon a time, actually did speak clearly and succintly the truth about the power of gold and its effect on a national economy. After acquiring, though, his fateful position as Fed Chairman, he was silenced - forevermore, after being annointed by the devil to pursue his adverse mission for American citizens. Hence, you may not recognize these are his words, but can easily verify such is the case.
In Greenspan's article, "Gold and Economic Freedom" (Objectivist Newsletter (1966), and reprinted in Capitalism: The Unknown Ideal by Ayn Rand, he speaks of "an almost hysterical antagonism toward the gold standard" by welfare-minded individuals….
He speaks of why it is necessary to "understand the specific role of gold in a free society." He goes on to speak of why the medium of exchange which is absolutely necessary to any healthy, stable economy, must be a durable good, ideally, a metal - as it is homogenous and can be moulded into different monetary values; that it must be a luxury item - always in high demand, and acceptable by all; something highly scarce, with a high value placed upon it. He utilizes the example that basically a couple ounces of gold is worth more than a ton of pig iron - the moral of the story being that gold is a more feasible alternative to iron, wheat, seashells, or baseball cards!… Gold is the ideal medium, across the board - hands down.
Also, Note: it is essential that the chosen commodity be recognized and acceptable by all players globally: from third world countries to transitional economies to advanced capitalistic economies - such as our own. And so Gold won over Silver to become the predominant metal, as an international medium of exchange. And a "free" banking system (i.e. one not controlled by any which 'invisible hand') based on gold could then extend credit, creating bank notes and deposits - "according to the production requirements of the economy", as no Central Bank should be given carte blanche to print indefinitely bank notes only to support lazy, welfare-minded individuals, who are nothing but a drag on the economy… For shame! That is anti-intellectual, counter-productive, absolutely foolish. That, being said, of course, I agree that the Bank of Canada should fulfill its very mission under the Bank of Canada Act:
'The Bank of Canada's responsibilities focus on the goals of low and stable inflation, a safe and secure currency, financial stability, and the efficient management of government funds and public debt.'
This means, our Central Bank should utilize its monetary tools, mandated exclusively to it in order to actually support our national economy, instead of standing by, and watching it be exacerbated and strangulated, without cause when it can easily reverse that….. IF the Governor is sincerely working on behalf of our national economy, sovereign nation, and Canadian citizens. But it is clear, they have been hoodwinked, at best, and bought off, at worst!
At the same time, don't forget: there are a myriad of immigrants who have come to Canada - and even Canadian citizens, themselves - who shudder at the very idea of bothering to even look for a job, which would jeopardize their access to all the "free" and easy money they can already get (and are receiving) in the form of monthly social security checks…. This is NOT to be perpetuated, encouraged or tolerated, in the least!
And let me tell you from someone who has worked very hard all her life - against all odds, all regimes, all powers, and all obstacles: money is never free! It comes out of the pockets of only those who work responsibly, productively and laboriously. All others are unconscionably taking unfair advantage, exploiting the system to the max - which is nothing but a humungous detriment to any macroeconomy, much less, our own.
And please note and never forget: God, Himself, does not bless such flagrant irresonsibility, but requires us to be wise financial stewards. What does He say to the one who multiplied the 10 talents given to him, and how did He reward him?…. He gave him 10 more! But what did He say to the one who simply buried the single talent he had? He took from him and gave to the productive one who mulitplied his talents!
A Government needs to be supportive of its people, I agree to the n-th degree. BUT a government needs to be limited, and should NEVER overcompensate for and purposely support outright lazy, welfare-minded loafers, who possess nothing but a proclivity towards communism, dependency and slavery!
As a Defender of Human Rights throughout several formerly communist countries, I discern the pitfalls of the base thinking of those citizens - who, with those very mindsets, ruin their own chances of ever being successful of their own accord and through their own efforts. And that is the only honorable way to live, upon which God will most certainly judge us - wthout a doubt!
The 'then' Greenspan continues: "When business ventures are not productive enough, banks curtail new lending by charging higher interest rates… which restricts new financing", meaning: borrowers need to buckle up, pick up their boot straps, and improve their profitability before they can obtain more credit. In other words: they need to make the MOST of themselves, as God, Himself DECLARED us to do. We are not called to advocated minimalism in our own efforts to create for ourselves a better future… That is shameful and no real man would ever even accept that as an option, much less advocate it!
So, "under the gold standard, a free banking system stands as the PROTECTOR of an economy's STABILITY and BALANCED GROWTH," said a pre-Fed, truth-speaking Greenspan - when he had no reason to hide the veracity and power of gold, and its true implications on an economy.
Also, if banks in any particular country (take America, today - a perfect example) "extend credit too liberally, interest rates in that country will tend to fall", said Greenspan, way back when, "inducing depositors to shift their gold to higher-interest paying banks in other countries. This will immediately cause a shortage of bank reserves in the 'easy money' country, inducing tighter credit standards and a return to competitively higher interest rates again," said he.
Voila! This is why America is experiencing all this capital flight, the expatriation of its wealthiest and most brilliant citizens, coupled with a withdrawal and diversification of foreign direct investment (FDI) to a startling degree - none of which is mentioned in the mainstream media, and of which people, are, therefore, unaware of…
As Greenspan, himself, said: "A fully free banking system and fully consistent gold standard have not as yet been achieved," and that was, ironically, thanks - in part - to no one, but him!… "But the process of cure was misdiagnosed as the disease", said Greespan. O, My Lord!…. Well, yes, he should know that very well - as that is what became of him - he, himself metamorposized into one big, metastatic, spreading cancer after regularly prescribing and injecting healthy truths into the very system he, then, in a tizzy, subscribed to euthanize!… But allow me to continue…..
"If shortage of bank reserves was causing a business decline" - argue economic interventionists, according to Greenspan -"why not find a way of supplying increased reserves to the banks so they never need be short! If banks can continue to loan money indefinitely, there need never be any slumps in business. And so the Federal Reserve System was organized in 1913″…..
But allow me to continue as I build momentum: "When business in the United States underwent a mild contraction in 1927″, continues Greenspan, "the Federal Reserve created more paper reserves in the hope of forestalling any possible bank reserve shortage." And that went on and on, until "the Federal Reserve pumped excessive paper reserves into American banks.. but it nearly destroyed the economies of the world, in the process", Greenspan, truthfully admits this once….
'Redspan' continues:
"The excess credit which the Fed pumped into the economy spilled over into the stock market -triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence. As a result, the American economy collapsed… Great Britain fared even worse, and rather than absorb the full consequences of her previous folly, she abandoned the gold standard completely in 1931, tearing asunder what remained of the fabric of confidence and inducing a world-wide series of bank failures. The world economies plunged into the Great Depression of the 1930's", said Greenspan.
I hope I have made my point through the Debt Maestro's own words before he sold his very soul to the Devil! Greenspan clearly stated that the opposition to the gold standard in ANY form comes only "from a growing number of welfare-state advocates" as "the gold standard is incompatible with chronic deficit spending (the hallmark of the welfare state)", he quotes.
He continues to even moreso, sharpen his already very clear message: "Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes."
BUT, says, he: "a substantial part of the confiscation is effected by taxation. But the welfare statists were quick to recognize that if they wished to retain political power" - or gain it, for that matter - "the amount of taxation had to be limited and they had to resort to programs of massive deficit spending, i.e., they had to borrow money, by issuing government bonds, to finance welfare expenditures on a large scale."
"Under a gold standard", though, "the amount of credit that an economy can support is determined by the economy's tangible assets…. Thus, government deficit spending under a gold standard is severely limited….. The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. The holder of a government bond or of a bank deposit created by paper reserves believes that he has a valid claim on a real asset. But the fact is that there are now MORE CLAIMS outstanding than REAL ASSETS."
Voila! This is the picture of America, today - with its myriad of overly leveraged bank derivatives and other financial instruments which do not even resemble real money, anymore, but veritable monopoly money…. which I could seriously use to incorporate all of my neices and nephews into one game, without having to pick and choose who can play a round…. Ho-hum….
Redspan rambles on fluidly and coherently, in his rare debut before acquiring a 'fed-ish' for expansionary interventionsim of easy money….. "The law of supply and demand is not to be conned", said he. Wow!…. Yet he thought he could con an entire nation and watching world with all of his shenanigans. But, allow me to not so rudely interrupt the words of this insidiously flip-flopping anti-economist, pro-globalist, inverted demagogue of a pedagogue…. So, the "Maestro" - as they so lovingly call him - amidst all their mind controlled frenzy, said:
"As the supply of money (of claims) increases relative to the supply of tangible assets … prices must eventually rise. Thus the earnings saved by the productive members of the society lose value (in goods)"…. And "when the economy's books are finally balanced, one finds that this loss in value represents the goods purchased by the government for welfare or other purposes……"
OK, so, by his own admission, Greenspan shows full well, he was well aware that he was purposely creating a welfare state out of America; yet, there are some fellow Canadians, here and now, who, consider themselves sensible money reformists, who are, subscribing to Greenspan's own recipe of disaster - which he fulfilled and proved to be just that!!….. That is insanity - as do not forget: the definition of insanity is doing the same thing over and over again, and expecting a different result!….
This once honest man who later lost his way to become the world's greatest Maestro of Demagoguery continues. Watch this:
"In the absence of the gold standard", says the early-bird Greenspan: "there is NO WAY TO PROTECT SAVINGS FROM CONFISCATION" …. You may need to read that twice to have that sink in, as it is not to be glossed over.
He continues to explain that absent of a gold standard, "there is no safe store of value….. The financial policy of the welfare state requires that there be NO WAY for the owners of wealth to protect themselves."
- Aha! So, THAT was his GOAL, all along… He knew it VERY WELL! But he spells it out even more clearly, for those of you who missed it. Let's have another look:
"This is the shabby secret of the welfare statists' tirades against gold", declares the then-sensible Greenspan. "Deficit spending is simply a scheme for the confiscation of wealth. GOLD stands in the way of this insidious process. It stands as a PROTECTOR OF PROPERTY RIGHTS. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
Touche.
- I arrest my case.
- If anyone, though, needs this argument further developed, please read the integritous Ron Paul Talks on Gold, Oil & the Economy in the Editorial section of the 321 Gold website:
http://www.321gold.com/editorials/tayl or/taylor031706.html
Angelina Lazar
angelinalazar@gmail.com
What Do Alan Greenspan & Ron Paul Have in Common?
- Synonomous Views on Gold & the Economy!
By Angelina Lazar
Please Note: BEFORE Greenspan became a Fed Insider, rampant with raving semantics, nebulous inuendoes and dichotomous speech, he once upon a time, actually did speak clearly and succintly the truth about the power of gold and its effect on a national economy. After acquiring, though, his fateful position as Fed Chairman, he was silenced - forevermore, after being annointed by the devil to pursue his adverse mission for American citizens. Hence, you may not recognize these are his words, but can easily verify such is the case.
In Greenspan's article, "Gold and Economic Freedom" (Objectivist Newsletter (1966), and reprinted in Capitalism: The Unknown Ideal by Ayn Rand, he speaks of "an almost hysterical antagonism toward the gold standard" by welfare-minded individuals….
He speaks of why it is necessary to "understand the specific role of gold in a free society." He goes on to speak of why the medium of exchange which is absolutely necessary to any healthy, stable economy, must be a durable good, ideally, a metal - as it is homogenous and can be moulded into different monetary values; that it must be a luxury item - always in high demand, and acceptable by all; something highly scarce, with a high value placed upon it. He utilizes the example that basically a couple ounces of gold is worth more than a ton of pig iron - the moral of the story being that gold is a more feasible alternative to iron, wheat, seashells, or baseball cards!… Gold is the ideal medium, across the board - hands down.
Also, Note: it is essential that the chosen commodity be recognized and acceptable by all players globally: from third world countries to transitional economies to advanced capitalistic economies - such as our own. And so Gold won over Silver to become the predominant metal, as an international medium of exchange. And a "free" banking system (i.e. one not controlled by any which 'invisible hand') based on gold could then extend credit, creating bank notes and deposits - "according to the production requirements of the economy", as no Central Bank should be given carte blanche to print indefinitely bank notes only to support lazy, welfare-minded individuals, who are nothing but a drag on the economy… For shame! That is anti-intellectual, counter-productive, absolutely foolish. That, being said, of course, I agree that the Bank of Canada should fulfill its very mission under the Bank of Canada Act:
'The Bank of Canada's responsibilities focus on the goals of low and stable inflation, a safe and secure currency, financial stability, and the efficient management of government funds and public debt.'
This means, our Central Bank should utilize its monetary tools, mandated exclusively to it in order to actually support our national economy, instead of standing by, and watching it be exacerbated and strangulated, without cause when it can easily reverse that….. IF the Governor is sincerely working on behalf of our national economy, sovereign nation, and Canadian citizens. But it is clear, they have been hoodwinked, at best, and bought off, at worst!
At the same time, don't forget: there are a myriad of immigrants who have come to Canada - and even Canadian citizens, themselves - who shudder at the very idea of bothering to even look for a job, which would jeopardize their access to all the "free" and easy money they can already get (and are receiving) in the form of monthly social security checks…. This is NOT to be perpetuated, encouraged or tolerated, in the least!
And let me tell you from someone who has worked very hard all her life - against all odds, all regimes, all powers, and all obstacles: money is never free! It comes out of the pockets of only those who work responsibly, productively and laboriously. All others are unconscionably taking unfair advantage, exploiting the system to the max - which is nothing but a humungous detriment to any macroeconomy, much less, our own.
And please note and never forget: God, Himself, does not bless such flagrant irresonsibility, but requires us to be wise financial stewards. What does He say to the one who multiplied the 10 talents given to him, and how did He reward him?…. He gave him 10 more! But what did He say to the one who simply buried the single talent he had? He took from him and gave to the productive one who mulitplied his talents!
A Government needs to be supportive of its people, I agree to the n-th degree. BUT a government needs to be limited, and should NEVER overcompensate for and purposely support outright lazy, welfare-minded loafers, who possess nothing but a proclivity towards communism, dependency and slavery!
As a Defender of Human Rights throughout several formerly communist countries, I discern the pitfalls of the base thinking of those citizens - who, with those very mindsets, ruin their own chances of ever being successful of their own accord and through their own efforts. And that is the only honorable way to live, upon which God will most certainly judge us - wthout a doubt!
The 'then' Greenspan continues: "When business ventures are not productive enough, banks curtail new lending by charging higher interest rates… which restricts new financing", meaning: borrowers need to buckle up, pick up their boot straps, and improve their profitability before they can obtain more credit. In other words: they need to make the MOST of themselves, as God, Himself DECLARED us to do. We are not called to advocated minimalism in our own efforts to create for ourselves a better future… That is shameful and no real man would ever even accept that as an option, much less advocate it!
So, "under the gold standard, a free banking system stands as the PROTECTOR of an economy's STABILITY and BALANCED GROWTH," said a pre-Fed, truth-speaking Greenspan - when he had no reason to hide the veracity and power of gold, and its true implications on an economy.
Also, if banks in any particular country (take America, today - a perfect example) "extend credit too liberally, interest rates in that country will tend to fall", said Greenspan, way back when, "inducing depositors to shift their gold to higher-interest paying banks in other countries. This will immediately cause a shortage of bank reserves in the 'easy money' country, inducing tighter credit standards and a return to competitively higher interest rates again," said he.
Voila! This is why America is experiencing all this capital flight, the expatriation of its wealthiest and most brilliant citizens, coupled with a withdrawal and diversification of foreign direct investment (FDI) to a startling degree - none of which is mentioned in the mainstream media, and of which people, are, therefore, unaware of…
As Greenspan, himself, said: "A fully free banking system and fully consistent gold standard have not as yet been achieved," and that was, ironically, thanks - in part - to no one, but him!… "But the process of cure was misdiagnosed as the disease", said Greespan. O, My Lord!…. Well, yes, he should know that very well - as that is what became of him - he, himself metamorposized into one big, metastatic, spreading cancer after regularly prescribing and injecting healthy truths into the very system he, then, in a tizzy, subscribed to euthanize!… But allow me to continue…..
"If shortage of bank reserves was causing a business decline" - argue economic interventionists, according to Greenspan -"why not find a way of supplying increased reserves to the banks so they never need be short! If banks can continue to loan money indefinitely, there need never be any slumps in business. And so the Federal Reserve System was organized in 1913″…..
But allow me to continue as I build momentum: "When business in the United States underwent a mild contraction in 1927″, continues Greenspan, "the Federal Reserve created more paper reserves in the hope of forestalling any possible bank reserve shortage." And that went on and on, until "the Federal Reserve pumped excessive paper reserves into American banks.. but it nearly destroyed the economies of the world, in the process", Greenspan, truthfully admits this once….
'Redspan' continues:
"The excess credit which the Fed pumped into the economy spilled over into the stock market -triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence. As a result, the American economy collapsed… Great Britain fared even worse, and rather than absorb the full consequences of her previous folly, she abandoned the gold standard completely in 1931, tearing asunder what remained of the fabric of confidence and inducing a world-wide series of bank failures. The world economies plunged into the Great Depression of the 1930's", said Greenspan.
I hope I have made my point through the Debt Maestro's own words before he sold his very soul to the Devil! Greenspan clearly stated that the opposition to the gold standard in ANY form comes only "from a growing number of welfare-state advocates" as "the gold standard is incompatible with chronic deficit spending (the hallmark of the welfare state)", he quotes.
He continues to even moreso, sharpen his already very clear message: "Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes."
BUT, says, he: "a substantial part of the confiscation is effected by taxation. But the welfare statists were quick to recognize that if they wished to retain political power" - or gain it, for that matter - "the amount of taxation had to be limited and they had to resort to programs of massive deficit spending, i.e., they had to borrow money, by issuing government bonds, to finance welfare expenditures on a large scale."
"Under a gold standard", though, "the amount of credit that an economy can support is determined by the economy's tangible assets…. Thus, government deficit spending under a gold standard is severely limited….. The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. The holder of a government bond or of a bank deposit created by paper reserves believes that he has a valid claim on a real asset. But the fact is that there are now MORE CLAIMS outstanding than REAL ASSETS."
Voila! This is the picture of America, today - with its myriad of overly leveraged bank derivatives and other financial instruments which do not even resemble real money, anymore, but veritable monopoly money…. which I could seriously use to incorporate all of my neices and nephews into one game, without having to pick and choose who can play a round…. Ho-hum….
Redspan rambles on fluidly and coherently, in his rare debut before acquiring a 'fed-ish' for expansionary interventionsim of easy money….. "The law of supply and demand is not to be conned", said he. Wow!…. Yet he thought he could con an entire nation and watching world with all of his shenanigans. But, allow me to not so rudely interrupt the words of this insidiously flip-flopping anti-economist, pro-globalist, inverted demagogue of a pedagogue…. So, the "Maestro" - as they so lovingly call him - amidst all their mind controlled frenzy, said:
"As the supply of money (of claims) increases relative to the supply of tangible assets … prices must eventually rise. Thus the earnings saved by the productive members of the society lose value (in goods)"…. And "when the economy's books are finally balanced, one finds that this loss in value represents the goods purchased by the government for welfare or other purposes……"
OK, so, by his own admission, Greenspan shows full well, he was well aware that he was purposely creating a welfare state out of America; yet, there are some fellow Canadians, here and now, who, consider themselves sensible money reformists, who are, subscribing to Greenspan's own recipe of disaster - which he fulfilled and proved to be just that!!….. That is insanity - as do not forget: the definition of insanity is doing the same thing over and over again, and expecting a different result!….
This once honest man who later lost his way to become the world's greatest Maestro of Demagoguery continues. Watch this:
"In the absence of the gold standard", says the early-bird Greenspan: "there is NO WAY TO PROTECT SAVINGS FROM CONFISCATION" …. You may need to read that twice to have that sink in, as it is not to be glossed over.
He continues to explain that absent of a gold standard, "there is no safe store of value….. The financial policy of the welfare state requires that there be NO WAY for the owners of wealth to protect themselves."
- Aha! So, THAT was his GOAL, all along… He knew it VERY WELL! But he spells it out even more clearly, for those of you who missed it. Let's have another look:
"This is the shabby secret of the welfare statists' tirades against gold", declares the then-sensible Greenspan. "Deficit spending is simply a scheme for the confiscation of wealth. GOLD stands in the way of this insidious process. It stands as a PROTECTOR OF PROPERTY RIGHTS. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
Touche.
- I arrest my case.
- If anyone, though, needs this argument further developed, please read the integritous Ron Paul Talks on Gold, Oil & the Economy in the Editorial section of the 321 Gold website:
http://www.321gold.com/editorials/tayl or/taylor031706.html
Angelina Lazar
angelinalazar@gmail.com
