October 12, 2005

Our Money SUCKS!

The boys over at Free-Market News Network have a really good editorial on, well simply put, why our money sucks.

For those of you who will read this and think that it's just "Black Helicopter Talk" can just stop right now. Go back to your People magazine, you are ignorant.

If on the other hand, you would like to read about why the Founding Fathers DID NOT WANT UN-BACKED MONEY and it's consequences.

Enjoy some quotes:
"Did you know that America suffered under 5000% inflation? It's true - when the Continental Congress declared war on England, it had no means to pay for the revolution because it had neither money nor the power to tax. America began with little more than the hope and a prayer by a few strong willed people who wanted to be free at any cost. In 1775, when the Revolutionary War began, the total money supply in the United States stood at only $12 million. In June of the same year, the Continental Congress started printing paper and said it was money. By the end of that first year, Congress had printed $6 million in paper money called "Continentals"."

"Plus the States printed their own currency too, which brought the growth in the money supply in America to over 5,000% inflation. None of the paper money had any backing. All of it lost its value until it was completely worthless, which brought about the phrase, 'Not worth a Continental.'"


"By simply returning to a value backed money, rather than worthless government paper money, the United States began its journey to the pinnacle of nationhood. Yet, today, we are again addicted to using un-backed government paper money called 'Federal Reserve Notes,'..."

A very good read that will open some eyes...

What Are We To Do?

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