About NVP Show

North Virginia Patriots show is a liberty minded political talk radio show. Hosted by Bill, Bryan and Ray, we cover all the topics in the political world from a libertarian view piont. Broadcasting on Restore the Republic Radio and Blog Talk Radio. For the best in libertarian talk radio tune in every Monday-Friday at 6 PM Eastern Time or listen to our archives here!

Call us live at 347-326-9595 or you can skype us at Skype Id NorthVirginiaPatriots. Make sure you share your contact with us.

Saturday, November 15, 2008

Why End The Fed

Most people today do not understand where inflation comes from, how our money is printed, and who is in charge of printing our money. To make it worse the average American does not even know what the Constitution says about our government and money. To keep it simple, the United States Constitution says in article 1, section 8. "[Congress shall have the power..]To coin Money, regulate the Value thereof, and of foreign coin, and fix the Standard of Weights and Measures". The Constitution does not even give Congress the authority to print paper money themselves, let alone delegate control over monetary policy to a central bank. Before the mid-twentieth century our currency was backed by an asset, more importantly it was backed by gold. For the longest time in our country the dollar was worth 1/20 of an ounce of gold. After the Federal Reserve was created in 1913 our government went on a mission to not only eliminate the gold standard but confiscate the gold from its citizens as well. So you would ask why, why would the government do that? Why would they disregard the Constitution? Well it wouldn't be the first time and probably not the last. The simple answer to those questions is this: When an asset such as gold backs money, government deficit spending is severely limited. With the creation of the Federal Reserve we have given the government the ability to have money printed out of thin air. Like G. Edward Griffin said, "if you give someone the power to create money out of thin air, don't be surprised when they create money out of thin air". The world we live in today goes like this- The Federal Reserve prints our money and lends it to our government at interest. This loan is guaranteed by the taxpayers. It is not a coincidence that the income tax was created in 1913, the same year the Federal Reserve act of 1913 was passed by congress. The Federal Reserve is a private bank held by private stockholders. We cannot audit the Federal Reserve. It is not owned or run by the taxpayers or the federal government.

I say lets end the Federal Reserve. Congress does have the power to do that and we should demand that they do it. Below is some quotes and text. There is a Federal Reserve Abolition Act that was brought to committee. It is called The Federal Reserve Board Abolition Act (H.R. 2755). It is still sitting in committee in congress. For many bills, this is the closest they will ever come to actually being debated on the floor of congress. We the people need to write our congressmen and demand they co-sponsor this and take it out of committee.

G. Edward Griffin quotes:
"Inflation has now been institutionalized at a fairly constant 5% per year. This has been determined to be the optimum level for generating the most revenue without causing public alarm. A 5% devaluation applies, not only to the money earned this year, but to all that is left over from previous years. At the end of the first year, a dollar is worth 95 cents. At the end of the second year, the 95 cents is reduced again by 5%, leaving its worth at 90 cents, and so on. By the time a person has worked 20 years, the government will have confiscated 64% of every dollar he saved over those years. By the time he has worked 45 years, the hidden tax will be 90%. The government will take virtually everything a person saves over a lifetime".

Rep. Ron Paul to Congress:
"Abolishing the Federal Reserve will allow Congress to reassert its constitutional authority over monetary policy. The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy."
"In fact, Congress' constitutional mandate regarding monetary policy should only permit currency backed by stable commodities such as silver and gold to be used as legal tender. Therefore, abolishing the Federal Reserve and returning to a constitutional system will enable America to return to the type of monetary system envisioned by our nation's founders: one where the value of money is consistent because it is tied to a commodity such as gold. Such a monetary system is the basis of a true free-market economy."

On November 22, 2008 thousands of people will rally to protest the Federal Reserve. Rallies will take place from Washington D.C. to San Francisco. Join us all week on Restore the Republic Radio as we bring you End the Federal Reserve week. If you are interested in joining the protest and help bring awareness to the biggest scam in American history visit End the Fed Website. If you cannot make it to the rallies join us on RTRRadio.com for special guest, commentary and live coverage from around the country.

1 comment:

Anonymous said...

I think if people knew what inflation really was, they'd be outraged. Inflation is the increase in the money supply, not the increase in prices. The Federal Reserve is printing money - the definition of inflation. The more money that is out there, the less that your dollars are worth.

Blog Information Profile for Minuteman