Nov 23, 2011

What is Constitutional Money?

This ain't no monopoly money, folks

In the following video, Harvard PhD Edwin Vieira discusses- in historical context- the issue of Constitutional money.  It is an issue we must give due diligence if we are to understand where our economy lies historically, and where we are headed as a nation.  There is perhaps no greater threat to liberty than when the economy collapses.  As Vieira points out, this phenomenon always leads to tyranny as an economic catastrophe sends the public into a frenzy.

Near the end, as he is concluding, Vieira makes the following precient statements:


"They (the Fed*) cannot face the consequences of a depression- can you imagine what a 1930's style depression in this country would be like?  That's what they don't want to have happen, and the one tool that they have that they think can prevent that in the short term is what?  Quantitative easing- inflation, generating money, generating paper currency, bills of credit- well, bills of discredit because they are not going to be paid.  We keep generating this stuff and we hope something will happen.  We are playing for time- financially.  But I think it was Machiavelli that said that's a fallacy because time brings all things- bad as well as good."

"...The only solution here, I think, is to come up with an alternative currency- and a lot of people have proposed exactly how to do this.  This isn't something that's difficult, on the shelf technology, we could set this thing up in 30-60 days after the statute is passed- an alternative sound currency based on silver and gold.  Start using that in the marketplace, start transitioning the governments into using it for purposes of taxation and spending, and let the banks figure out how to solve their own problems."

As Vieira points out, we don't have to go down with the Titanic that is our economic system today.  There are workable, rational, and realistic solutions that are literally the lifeboat for the citizen.  If we ignore scholars like Vieira we will drown in the icy waters of turmoil and, quickly awaken to a new reality of tyranny.    

*It would be important to note the government cannot face this reality for obvious reasons- and is complicit, as well.  That explains why the government was all too happy to pass legislation such as TARP and support quantitative easing as a solution to the threat of economic collapse due to bank failure.

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