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How to Abolish the FED! - 8 Minute Video

The following video is a 8 min. segment from The Money Masters on how to abolish the FED!

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Good point

The whole myth of "there isn't enough gold," is also bogus. First of all, the same logic could be applied to fiat paper. Certainly there are only a finite number of trees, and therefore paper, in the world. And with the Global Warming Wakkos, there are even few that can be used to make fiat paper. Of course, this just shows how the monetarists are crazy, but doesn't explain how the premis, "there isn't enough gold," is false.

The initial amount of gold DOES NOT MATTER. Ideally, the value of gold will always go up. As the economy grows, as mankind produces more, and as technology improves living standards, the value of gold will go up. Meaning each oz of gold should be able to buy more next year than it was able to buy last year. Why? There are more things out there to buy! Therefore, a given product should tend to fall in price as more things are produced. This process is what leads to high savings with a 100% gold reserve. The 1oz of gold you earn today will be able to buy much, much more 30 years from now. So there's a strong pressure to save money now for a higher living standard tomorrow. This is what Ron Paul is talking about when he says that it's the savers who are hurt the most by the Fiat standard.

Say we were on a 100% reserve gold standard, and say we had a well functioning market economy. Now imagine that God doubled the amount of gold that everyone owed. He just made every atom out there double. We'd all be twice as rich, right? Well, if we all know that the gold supply was just magically doubled, then we're all going to raise our prices. In fact, we'll just about double them! So we can't buy more things, because the prices are higher, even though we have double the amount of gold. This is an example of how the size of the gold supply doesn't matter; what matters is the amount of gold supply relative to the amount of all the other products available in the economy, and the values that individual place on all of these products. Note, however, that the rise in prices in this example is NOT inflation. Why? Because the purchasing power of every individual is maintained. Since it affected everyone equally and proportionately, no individual was robbed of the amount of goods/services that he could buy.

Of course, gold has use out side of it's monetary function. It can be used in industry, in decoration, etc. Thus, if God were to double the gold supply, there would be a real increase in wealth. We would have twice the amount of gold for use in industrial production or for decorations in fancy buildings, etc.

The great Austrian economists explain this much more eloquently than I possibly could. But hopefully someone out there who believed the lie that "there isn't enough gold" finds this helpful.

I agree with Normandie.

The speaker is basing his hypothesis on President Lincoln's Greenback dollars which did work for a while in the Civil war, but he fails to mention that the greenbacks became worthless shortly after the Civil war ended.

Why did they become worthless?

Because eventually they had no real value the same as the current FRN's.

Why has Gold/Silver proved to be the longest lasting and most stable medium of exchange?

From Ron Paul's money book {pub.1991} page12 ,why Gold is the best money:

{excerpt}...because its {GOLD'S} value does not depend on government fulfilling its promises, especially in times of crisis. Gold is scarce; It is portable;{beesting;ownership of electronic Gold is easily transferred worldwide in the modern electronic world } it is easily divisible; it is durable; it is desirable for non-monetary purposes;and it is impossible to counterfeit.{end excerpt}

It is my opinion any type of paper money could not keep value as well as Gold/Silver, no matter who issues it.
********************************************************************************
And this from page 213 of the Ron Paul money book:
Myth # 1: "There isn't enough Gold"!
{Ron Paul} I find it amazing that economists can make statements like this because it is an elementary principal of economics that if one raise the price of a commodity, one will always have enough of that commodity.....the runup in Gold prices is in fact the the raising of the price of Gold to match the depreciation of the dollar.
******************************************************************************
P.S. The U.S. Treasury still claims to have about 8,130 metric tonnes of Gold in storage.

beesting

I understand what you are saying however I think it would be

a big step in the right direction. Going directly to the gold standard has two big problems:

1. The US gold supply has not been audited in approx. 50 years and there are many who believe it is gone.

2. The central bankers control the majority of the global gold market, so if you went directly to the gold standard guess who would still be in charge?

Any suggestions on how to deal with these problems?

Yes, a suggestion,,to Ralph Waldo.

If we can promote and pass an "Honest Money Act", in a majority of states that would be a start.

The Fed took almost 100 years to wreck the American Constitutional monetary system, so don't expect a quick fix, but in my opinion below is a very good start.

From an e-mail:

To: Undisclosed-Recipient:;
Subject:New Hampshire Colorado & Indiana Honest Money Acts

The Colorado Honest Money Act will be voluntary for citizens, but mandatory for certain, specialized businesses and will allow Colorado to fund the Treasury with enough assets insuring that no current state funds will need to be earmarked. The Colorado Honest Money Act is NOT a replacement for Federal Reserve Notes, but more of a competing, Constitutional currency and an insurance policy for our current, tenuous "money" system.

Colorado HB 09-1206
http://tinyurl.com/cecqu6

For more information, contact:

Representative Kent Lambert rep.kent.lambert@comcast.net
Senator Kevin Lundberg kevin@kevinlundberg.com

/////////////////////////////////////////////////

Indiana Honest Money Act introduced!! SB 453
http://tinyurl.com/arjav3

Indiana Senate Bill 0453
http://tinyurl.com/78fej9

/////////////////////////////////////////////////

Colorado , Indiana , New Hampshire,,,Go Gold ! ! !
http://www.godlikeproductions.com/forum1/message718948/pg1

beesting

Yes, a suggestion,,to Ralph Waldo.

If we can promote and pass an "Honest Money Act", in a majority of states that would be a start.

The Fed took almost 100 years to wreck the American Constitutional monetary system, so don't expect a quick fix, but in my opinion below is a very good start.

From an e-mail:

To: Undisclosed-Recipient:;
Subject:New Hampshire Colorado & Indiana Honest Money Acts

The Colorado Honest Money Act will be voluntary for citizens, but mandatory for certain, specialized businesses and will allow Colorado to fund the Treasury with enough assets insuring that no current state funds will need to be earmarked. The Colorado Honest Money Act is NOT a replacement for Federal Reserve Notes, but more of a competing, Constitutional currency and an insurance policy for our current, tenuous "money" system.

Colorado HB 09-1206
http://tinyurl.com/cecqu6

For more information, contact:

Representative Kent Lambert rep.kent.lambert@comcast.net
Senator Kevin Lundberg kevin@kevinlundberg.com

/////////////////////////////////////////////////

Indiana Honest Money Act introduced!! SB 453
http://tinyurl.com/arjav3

Indiana Senate Bill 0453
http://tinyurl.com/78fej9

/////////////////////////////////////////////////

Colorado , Indiana , New Hampshire,,,Go Gold ! ! !
http://www.godlikeproductions.com/forum1/message718948/pg1

beesting

Bogus!

This guy does seem well intentioned. But i totally disagree with his idea!
1. He advocates FIAT "money"... printed by Big Brother rather than by Big Brother's best friend, Big Banker.
2. He believes in INFLATION, but in such as way as to maintain price stability based on population. (3-5% per annum). This is advocated by the "free-market lite" group, the Chicago Economists, that runs the Republican party. The Austrian school addressed this issue long ago, and ridiculed it as Big Brother controlling the economy. ALL inflation is theft, everywhere and anywhere. Under a 100% commodity reserve currency, inflation would be 0%, and there would almost always be downward pressure on prices, because of GDP growth and supply/demand law. 3-5% inflation, according to population, means SOMEONE (Big Brother) gets to spend/distribute the money first. Certainly such a system is easily corruptible... not to mention that NO MATTER how it is done, the printing of new money into circulation will devalue the other money already out there. This is THEFT.
3. Now, if the government gets to print the 3-5%, and they get to spend it into existence (I think as Kucinich has proposed), and this print-and-spend system were to replace ALL federal taxes, then it might be an improvement on the current system. However, there is a moral hazard involved. The people will no longer FEEL the growth of government. With taxation, the people actually feel the pain of Big Brother, and as we all know, it is very unpopular. This is why Big Brother loves inflating and borrowing money to pay for its budget: the people only feel the damage long after it has occurred, and long after it is too late to stop. If we were taxed every year all of the money that the government spends, and had no inflation and NO national debt, the people would have revolted long ago to stop the growth of big government. Remember, it was this very reason that the Founders wrote the Gold Clause into the Constitution. Jefferson &Co. knew Gold stood in the way of Big Brother.
4. He claims we can pay of the national debt in one year. More than a year ago, that might have been true. In today's economy, I find that time frame dubious.
5. He claims we can pay off the national debt and feel no pain in doing do. Seriously? How are we going to pay a debt 70% of our GDP in one year and not feel ANY pain? It's bogus! You can't get something for nothing. He claims that doing some sort of transfer system from FRN to BBN (US/Big Brother notes), while returning to 100% reserve will fix the problem. But in doing so, higher reserves would make loans harder and harder to get, and the relative prices of FRN/BBN would continuously change, which would ruin the market mechanism. More expensive loans means reduced growth in the economy, which would be painful. Certainly I agree with 100% commodity reserve banking, but in the transfer over to such a system there will be pain involved. He is lying to you if he says it will be easy.

Anyway, I'd love to hear some counter-points if anyone has any. Again, he seems like a well-intentioned guy, just wrong on economics. Be careful of being mislead, folks. Don't advocate a system/policy unless you really know what it's about.

WOW---you must see this video!!! While not an advocate for ...

returning to the gold standard... It is by far a bettter system than we have now.. (taxes would go down dramatically..and we would no longer have a national debt--nor would the FED make any more $$ off of the average American!!)

This clip is taken from the awesome video called The Money Masters. Please view the entire video on google to understand what is going on monetarily. You can also purchase the DVD from
http://www.themoneymasters.com which I wholeheartedly recommend.
I chose this clip to show Ron Paul supporters how to fix the monetary system. We can not go on the gold standard again because we no longer have gold.

The Money Masters DVD has now been shipped to all US Senators, Congressmen, Supreme Court Justices and Cabinet-level Executive branch officials, including a copy of the Monetary Reform Act (575 copies in all).

If you would like to read the Monetary Reform Act, please visit the above site.

Let's all follow up on our representatives to make sure they have viewed it, and ask why they have not supported Ron Paul yet.

Here is a short term solution that each of us can do right now.

Transfer all of your banking and credit to credit unions, which are non-profit, and disconnect from banks as much as possible. Then stop supporting any company that uses any form of gov't subsidy no matter the size.

"All great truths begin as blasphemies."

"Human beings with love and compassion are some of the most beautiful creatures in the universe... Those without are a plague on us all."

Seems to me

we abolish the Fed by each state declaring independence from the Federal Government and going gold.

"It's just one big club... and WE ain't in it!"

"Tyrants fear nothing more than insubordination"

"It's just one big club... and WE ain't in it!"

Be smart ! Check and double check before advancing !

Most of what this man is suggesting can work, however, as long as Presidents and their administrations with a few government ran departments continue to instigate wars for their own cause (power and $$$$$), it will be more then difficult to initiate these suggestions.
We must remove those in power who are corrupt first. We start with the local governmet, on to the state and then the federal levels. People must put aside petty differences and work together for a common cause of peace and freedom. The thinking of secretly ran government is taking place at each level. It must be stopped. Forget the suits, dresses, smiles and the wine and dine mentality dinners and gatherings that accomplish very little if anything and take actions towards freedom. Most wine and dine gatherings can do more harm for those that do not need to be the face. Some of these gatherings only mark you. Be smart and strategically put yourself in position. I do not suggest that all gatherings are harmful. Choose your battles carefully or the cause can end up being no different then the establishments corrupt ways being ran today.
Research, study, ask questions, discuss with like minded individuals intelligently being cautious of those who desire to corrupt.

I think the dude is right on!

It's as simple as the statement: If you can issue a bond that pays interest, then you can just easily issue a note that doesn't". That's the difference in the scam. We're all charged interest on money that was created freely. If that disadvantage was removed, we'd all be happy campers. To further illustrate, doesn't it gall you to pay a credit card bill with 16% interest to Bank of America, when they just got a free handout? And miss a payment, or be late, and your a real bad person. Wake up America. Throw the bums out, and bring on righteousness.

alan laney

MEET BILL STILL, FIAT-MONEY ADVOCATE

An analysis of the documentaries Money Masters and Capital Crimes
by G. Edward Griffin, author of The Creature From Jekyll Island: A Second Look at the Federal Reserve

The purpose of this analysis is to evaluate two video documentaries on monetary issues that were written and produced by Bill Still. One is The Money Masters and the other is Capital Crimes. They are excellent productions with a great deal of history and professionally created images. They tell the story of our debauched monetary system based on fractional-reserve banking. There is just one problem. They offer a false solution – which is to say they offer no solution at all. The alleged solution is that we abandon our present fiat money system and adopt another one similar to it. Yes, they actually advocate FIAT money! The proposal is that we should take the power to create money-out-of-nothing away from big, bad bankers and turn it over to nice, trustworthy politicians. In my view, it is very naïve to think that politicians are more trustworthy than bankers. The problem with money created out of nothing is not who does it but that it is done at all.

These documentaries remind me of William Greider's book, Secrets of the Temple, which was offered to the public as a scathing exposé of the Federal Reserve System. Greider’s history was excellent, but his conclusion was fatally flawed. After having proved that the Fed was conceived as a weapon of the banking elite against the common man and having shown that this is exactly the function it has always served, his conclusion was, not to abolish the Fed or even to make serious changes to it. His “call to action” was simply to stop worrying about it. The Fed has made mistakes, he said, but we have learned many lessons along the way. All we need now are wiser men to run it! That is the kind of solution that made his book acceptable to the giant publishing house, Simon and Schuster. It is no solution at all. The elite do not care what we know about a problem they have created if we do nothing to solve it. They are good at putting forth their own opposition – writers like Greider – who will sound the alarm and rally the troops but lead them – nowhere.

Read the rest here:
http://www.freedom-force.org/freedomcontent.cfm?fuseaction=m...

Ding...

+1

Ding

+2

The Money Masters is a great introduction for anyone who wants to better understand how our monetary system works. I do agree that his solutions are way off base.

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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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bump for making the FED obsolete

"All great truths begin as blasphemies."

"Human beings with love and compassion are some of the most beautiful creatures in the universe... Those without are a plague on us all."

I met this guy a few months

I met this guy a few months ago. He's actually making a new documentary on monetary reform that should be out pretty soon

Really?

I would love to hear some details of your impression and the details for the upcoming video.

No change at all

I've seen this movie, the guy (as is often the case) is well intended but (as is the case even more often) hopelessly confused. He wants to take the right of issuing fiat money from Fed and give it to the Treasury. Bravo. So you take a totalitarian power from one group of bureaucrats and give it to another group of bureaucrast. Big change.

But for the most part this movie is quite informative and useful for our cause. Just don't be fooled by wrong conclusions drawn from correct premises.

I understand what you are saying.

He proposes the Lincoln model with the government printing the money but does not put it back on the gold or silver standard. However, it is a big improvement over what we have now.

you are missing the point...

He is saying to stop monetizing debt and multiplying that debt through the fractional reserve principle because that is what creates 90% of the inflation or hidden tax. This would make the banks servants not the masters as they are right now.

"All great truths begin as blasphemies."

"Human beings with love and compassion are some of the most beautiful creatures in the universe... Those without are a plague on us all."

fireant's picture

Not to mention...

he advocates abandoning all the globalist banker institutions.

“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams

Undo what Wilson did

fireant's picture

If we had an administration which cared about the people,

this man would be Treasury Secretary today.

“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams

Undo what Wilson did