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One money - One rule - One master
By James Hall
Euro, Euro, Euro all around, but not a pence of 'real money', to spend. With these euro notes of this common currency, the wire services heap praise on its successful launch. The wheels of business and the mechanism of finance are all in gear to usher in this brave new world of commerce. For years we have heard the benefits of the first united coinage since the Roman Empire and the elimination of the chaos of individual currencies. So what will this conversion mean for Europe and the rest of the world?
The conclusion largely depends on what you consume from the political plate and whether you wish to place your thumb on the scale that weighs the beef. The traditions of Europe are quite different from those of the original colonies when it comes to a monetary perspective. With the founding of our nation, constitutional powers were enumerated regarding the nature and coinage of money. Individual states were restricted from their own coinage, while punishment for counterfeiting was established. Standard weights and measures of gold and silver were defined as legal tender. So what does this have to do with the modern world and the financial developments on the continent?
Answering this inquiry revisits that old but tested account that reappears periodically. Its current resurrection is in the form of "Billions for the Bankers, Debt for the People" by Sheldon Emry.
In all its former lives, this argument has been attacked and smeared for well over a hundred years. We all are aware that Alan Greenspan rules as a monetary sovereign, so why do we need a history lesson on the Federal Reserve and central banks? And who really cares about fractional reserve banking, when you can read in the WSJ the value of your money? If this is your attitude, you will eagerly accept the Euro as a triumph of financial progress, and gladly pay your conversion rate when the credit card bills are due after your next European holiday.
But if you are one of the last remaining souls who regrets the loss of freedom and a future for our society, you are obliged to become financially literate. No one can doubt the paramount role that money plays in all out lives. Nor can anyone deny that the most efficient method to ensure approved behavior is directly related to the economic costs that non compliance incurs. Governments are constructed around the pillars of financial control. But when it comes to the case of money, the creation of the central bank, has achieved a virtual adoration of worship. The idea of questioning the very existence of a central banking system, is a worse crime than the robbing of one of its branches.
Let no one be mystified with that which is quite simple. Paper money is always fiat currency, because it is arbitrary and not redeemable in specie coinage. When legislatures abolish convertibility, they destroy the stable store of value in their money. But when these same lawmakers, allow private banks to formulate a system of fiat money creation under the guise of a federal institution, you have the abdication of the Republic.
Europe has never had a tradition of a republic model for their governments, so it should not be a surprise that the conception of central banking got its hold in the old world. What is amazing is the uniformity of acceptance that the American public has for the single most tyrannical influence over ourselves and our country. Contrary to popular thought, abolishing the Federal Reserve and returning to Congress its constitutional duties, is possible and requires only the political will to act. Nothing in modern economic commerce, has changed the fundamental need to function with a stable currency. The realm of futures, options and derivatives are nothing more than a refined version of the three card monte. The shell game that passes as financial wizardry is not run by some gnomes on loan from Zurich. Understand that the statistics of low inflation is nothing but a manufactured allusion of cooking the books.
Harry Schultz, the dean of hard money prognosticators, refers to a current case in federal court that could blow the lid off the scam of the century. But taking on the who's who of the financial community is never easy. When can you remember a federal judge that would side with the Constitution?
Central banks all share their dislike for gold, while they fill their vaults with the metal. Why is it so difficult to grasp that the schemers need to convince you that their stewardship brings harmony to the marketplace, while they sap the last vestige of your wealth? Will it take a crisis of the magnitude of Argentina, to bring home the reality of the swindle that is being sold as a united Europe?
The reason that your interests are never served by the true controllers of the purse, should be obvious. Even the politicians know that they don't run their fiscal systems. So why do your allow yourselves to be lulled into a trance of irrationality? For the most part, Europeans are content with being reduced to a docile vassal. But should we not expect more from Americans? The end result of the Euro will be the evaporation of the last vestige of national sovereignty and identity of proud countries and traditions. If you are a NWO proponent you will dine on the carcass of national glory with the lust of a gourmet. For your appetite is not for the prosperity of your peoples, but lies within the greed to keep them in servitude.
How long will it be for the calls that the U.S. needs to join the Euro? Any country who allows the surrender of their own fiscal policies to a supra-national tribunal, that is designed to institute arbitrary and unaccountable demands upon the citizens of independent countries, deserves the fate of the vanquished. Prosperity is an allusion of deception that is being fed to the hogs on their way to the slaughter house. The corn may fatten the swine, but it also has them wallowing in the sludge of their pen. "He who has the Gold, makes the rules."
James Hall, AKA Sartre, is the driving force behind Breaking all the Rules, a collection of his essays.
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