And how soon will they re-discover that money (in the form of gold) is another word for labor already performed? Well, I think we are making some headway folks. At least the word 'gold' is now back in their vocabulary.
And maybe some day they will re-disvoer and admit that it wasn't the gold that was confiscated. It was the theft of the people's labor. Gold is the measure of that stored up wealth.
But that must never be mentioned, for as long as it was only an impersonal commodidity like gold that was taken, people don't get too stirred up with those kind of losses. They can be replaced. On the other hand, labor already performed is a measure of how much freedom you have, and how much sweat you used to purchase it. That is a personal substance that cannot be replaced, for it was yours and yours alone. It has your DNA stamped on it. It was your passport to freedom and allowed you to structure your life in your own peculiar way.
The point is that we've allowed tyrants to structure our lives all these years . . . and continue to do so as long as we allow them to steal our labors and make it impossible to store up wealth.
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The point is that we’ve allowed tyrants to structure our lives all these years..
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When anyone, even someone in government or a private corporation acting via a government monopoly, creates money and uses it to purchase goods or services, it *counterfeits* private wealth. The economic effect of a criminal printing money and using it to buy an airplane is exactly the same as when the Federal Reserve “borrows money into circulation” and buys an airplane with it.
So, it is even worse then you have said. It goes beyond the mere theft of gold, by forcing the exchange of gold for paper money. This event was the essential start of an ongoing theme of theft of private wealth because it made possible “borrowing money into circulation”, money that was “borrowed” from nothing.
Here is the exact crime: A portion of our private wealth is retained by us in the assets of corporations (via shares), is held by us in our homes and real estate, is held by us in the form of other assets (like a gun collection), and in money (either in electronic form of your checking account balance, or in currency).
Take the portion of private wealth held in the form of money. What proportion of our total wealth is that? I can’t cite an official number, but it is some, not insignficant, fraction.
When the Federal Reserve “injects liquidity”, what has exactly happend is that the pool of “money” is diluted by the exact proportion of the size of this injection in relation to the total pool of money. This is the very defintion of inflation.
So, when two college guys invent a new way of searching internet web sites, and set in motion the creation of $285 Billion in market capital, some of that sum ends up in the form of “money”. Here is the target of the crime: this portion of that total that ends up as “money”. This is an “expansion of the money supply”, and would result in proportinate dis-inflation, and a proportionate reduction in wages and prices.
In order to retain “price stability”, the Federal Reserve must create money (”inject liquidity”) by this exact amount. Well the word ‘must’ is really an excuse. What has happened is that with every expansion of the economy that we manage, through work, and improvement, innovation and invention, in order to maintain constant value of the “dollar”, the Federal Reserve must create a proportionate amount of money.
Since this “money” is “borrowed into circulation”, and used to purchase goods and services to the benefit of government, it is a built in parasite on the private wealth we all create.
This fiat-money, central bank system is like a economic tape worm that lives by sucking from those who create the wealth, the private citizen. The scope and scale of this is stunning. It is the grandest scheme of theft of private wealth ever divised. Roman emporers could never dream of being the beneficiary of such an immense, endless river of wealth.