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Is Ron Paul Anti Central Bank or

Submitted by SyntheticSolutions on Thu, 03/13/2008 - 15:30
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anti Central Bank issuing Fiat Money. Would their be a need for a central bank if we were on a gold standard?

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He's said in speeches before

Submitted by ebinrock on Thu, 03/13/2008 - 15:43.

He's said in speeches before that "the Constitution doesn't even allow for a central bank", so I think there's your answer. And I don't think there's ever been a central bank that ever adhered to a sound, 100% (as opposed to fractional reserve) gold standard. That's the whole point. Central banks are institutions designed to cheat people out of their wealth by inflation, and they work hand-in-hand with governments to accomplish this, making the super-rich uber-rich, while at the same time letting governments have money to play with. The money isn't free, there's interest to pay, but governments pass that cost on to citizens (in the form of income tax). So basically, central banks exist only to defraud the populace; there is no such thing as a central bank that is honest. There's no honest reason for a central bank to exist.

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"It is not the abuse of power, it is the power to abuse."
- Michael Cloud, Libertarian

Thanks For the Post it is confusing because

Submitted by SyntheticSolutions on Thu, 03/13/2008 - 15:52.

George Washington was in favor of a central bank but also was a proponent for currencies that were backed by gold.