This will make you mad: The Fed's Gold
Messages
| From: | Rashad Tatum |
| Sent on: | Thursday, April 24 at 3:19 PM |
The following is an excerpt from pg. 138 of The Case Against the Fed by Murray Rothbard:
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Rashad Tatum
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"[W]e shall not fight our battles alone. There is a just God who presides over the destinies of Nations, and who will raise up friends to fight our battles for us. The battle, Sir, is not to the strong alone. It is to the vigilant, the active, the brave." - Patrick Henry on the fight for independence
"The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people." Freedom Under Siege, 1987 by Ron Paul
"I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale. " - Thomas Jefferson
Federal Reserve Notes, the legal monopoly of cash or "standard," money, now serves as the base of two inverted pyramids determining the supply of money in the country. More precisely, the assets of the Federal Reserve Banks consist largely of two central items. One is the gold originally confiscated from the public and later amassed by the Fed. Interestingly enough, while Fed liabilities are no longer redeemable in gold, the Fed safeguards it gold by depositing it in the Treasury, which issues "gold certificates" guaranteed to be backed by no less than 100 percent in gold bullion buried in Fort Knox and other Treasury depositories. It is surely fitting that the only honest warehousing left in the monetary system is between two different agencies of the federal government: the Fed makes sure that its receipts at the Treasury are backed 100 percent in the Treasury vaults, whereas the Fed does not accord any of its creditors that high privilege.
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Rashad Tatum
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"[W]e shall not fight our battles alone. There is a just God who presides over the destinies of Nations, and who will raise up friends to fight our battles for us. The battle, Sir, is not to the strong alone. It is to the vigilant, the active, the brave." - Patrick Henry on the fight for independence
"The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people." Freedom Under Siege, 1987 by Ron Paul
"I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale. " - Thomas Jefferson