It started in 1913 with the Federal Reserve System as the year darkened...Submitted by Paul_S. on Tue, 05/25/2010 - 16:41
It started in 1914 with the Federal Reserve System a banking cartel under the monopoly powers of the unregulated and unaudited Federal Reserve Open Market Committee. A government sanctioned monopoly.
During the crash of 1929 to 1944 caused by imprudent use of the cartel's capabilities by business and government, Congress applied the Glass Steagal Act as a patch for the faulty system. One of many patches applied at that time.
When the government burdened us with a banking cartel that they created and enforced our enslavement was all but certain. Bandaids, Patches and Plasters leave us always with the original monster bank ravaging our economic well being..
We should at least fully Audit the Federal Reserve, to make sure they are worthy of more responsibility of our broken or breaking monetary system. Which I doubt.
Money comes from the US Mint and states are required to collect revenues in silver and gold. We have forgotten this and the perils are becoming clear.
The silver dime in 1914 bought a dozen eggs and two copper pennies for change. Today The silver in that dime will buy a dozen eggs. For one hundred years silver has held its value in relation to eggs. They took all the gold in 1933. They took all the silver out of coins in 1964, leaving us with token money.
Eggs in 1914 8 cents per dozen
Eggs in 2010 $1.27 per dozen.
Silver Dime in 1916 10 cents
Melt value of Silver dime today $1.29
[Prices for May 25, 2010]
We have tried a banking cartel with government sanctioned and enforced monopoly power. It is failing and that is good. How can a Constitutional money help us build a sound economy for the ashes of the old.