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Source link: http://archive.mises.org/7831/where-new-money-comes-from/

Where new money comes from

February 25, 2008 by

A cartoon printed in Percy Greave’s Understanding the Dollar Crisis :

{ 14 comments }

Bruce Koerber February 25, 2008 at 4:32 pm

Ron Paul was making tremendous headway into the intellectual awakening of the masses, especially when he talked about the connection between the dollar crisis and the Federal Reserve.

At that point all stops were pulled on the methods of censorship by the lords of the media.

From then on it became very clear that freedom is waning in America because the media is really just a propaganda machine.

I am not without hope or without faith but the timeframe for the demise of socialism may have returned to one closer to the pre-campaign ‘schedule.’

The battle is dramatic. The minds of humanity surely will reject the hollowness of socialism eventually, one way or another! The peace, prosperity and freedom of classical liberalism will forever shine as a true beacon of hope.

Fephisto February 25, 2008 at 4:57 pm

Bruce:

The more likely occurrence is that the media controls to control the vast majority of the population, and there isn’t a damn thing you can do about it.

Technology Slice February 25, 2008 at 10:00 pm

Let’s not forget the double standards the banks apply to their customers. What’s theirs is theirs and whats yours is theirs.

Bruce Koerber February 25, 2008 at 10:22 pm

Dear Fephisto,

‘humanity surely will reject the hollowness of socialism eventually, one way or another!’

It is true that I cannot do anything about it nor will I have to. The masquerade is unsustainable. At some point in history the ego-driven interventionists will be cast out as charlatans and consultation will replace propaganda.

In the meantime the slow rising of classical liberalism in the minds and hearts all around the world will be the good in the ‘good versus evil drama’ of the ever-advancing civilized world.

hiimallen February 25, 2008 at 11:50 pm

“When the people fear their government, there is tyranny. When the government fears the people, there is liberty.” –Thomas Jefferson

“I hope our wisdom will grow with our power, and teach us that the less we use our power, the greater it will be” –Thomas Jefferson

“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them” –Thomas Jefferson

“I sincerely believe that banking institutions having the issuing power of money, are more dangerous to liberty than standing armies” –Thomas Jefferson

“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” -Thomas Jefferson

Keith February 26, 2008 at 6:46 am

Quote from Bruce : ” ‘humanity surely will reject the hollowness of socialism eventually, one way or another!’

It is true that I cannot do anything about it nor will I have to. The masquerade is unsustainable. At some point in history the ego-driven interventionists will be cast out as charlatans and consultation will replace propaganda.”

I would hope so, but 5,000 years of history do not support your prophesy.

yumi February 26, 2008 at 7:24 am

It reminds me of John Cleese in How to Irritate People when he talks about banks

http://www.youtube.com/watch?v=YMR2zhaEyGo

gene berman February 26, 2008 at 7:41 am

Most of you guys have got it entirely wrong. The con-game isn’t one designed by the con artists. They’re not busily propagandizing for the rip-off or scheming to hide some secret, “true knowledge” from the masses in order to maintain their advantaged position.

It’s virtually the other way ’round. People want certain things or want certain relationships that are at odds with what they’d want if they actually understood certain (economic) truths. But that doesn’t change the “facts on the ground.” Their wanting such things create obvious opportunities for those prepared to take advantage–and there are never a lack of that sort, either. People say they want freedom–but in amny of their actions they demonstrate otherwise. They say they want “prosperity” or “security” but then elect political leaders empowered to interfere negatively with the very processes by which these conditions are achieved.

By blaming the unsatisfactory state on various sets of malefactors, you actually are an integral part of whatever resistance exists to the achievement of better conditions, even if it were true (which it is sometimes and sometimes not) that you actually have some “better idea” of how things should be.

By and large, people have exactly the conditions they’ve wanted to bring about (given the current state of their knowledge). And the fact that the conditions that their desires have brought about do not suit them says nothing more than that men can err and usually do when the “knowledge” on which their prior decisions have been based is flawed–as we know it is.

The enemy is ignorance, not evil. And the tools and methods for the defeat of one are entirely inappropriate for dealing with the other.

fundamentalist February 26, 2008 at 8:09 am

hiimallen, Thanks for the Jefferson quotes! Very enlightening. Before the creation of the Fed, generations of people discussed monetary policy intelligently. The Fed lulled people to sleep by making them think the government would take care of money. Today, people are vastly more ignorant about money than people a century ago.

David Spellman February 26, 2008 at 12:26 pm

Its even simpler still. People want something for nothing. As long as they think they are ripping other people off for more than they are losing, they support the system knowing full well what the game is.

Bruce Koerber February 26, 2008 at 1:23 pm

Dear Gene,

I said ‘In the meantime the slow rising of classical liberalism in the minds and hearts all around the world will be the good in the ‘good versus evil drama’ of the ever-advancing civilized world. ‘

You said ‘The enemy is ignorance, not evil.’

I see complete agreement.

With warm regards,
Bruce

Ken Zahringer February 27, 2008 at 1:46 pm

Gene,

Truer words were never spoken. All I can say is “ditto”!

And if any of you ever have the opportunity to assist private schools or home schoolers in your community, DO IT!

marxbites February 27, 2008 at 9:51 pm

When the dollar goes to fractions of a penny and gold to near infinity – the charade will no longer be hidden.

When robbing Peter to pay Paul, Paul is not likely to complain and may even help.

If the Morgan Dems & Rockefeller Reps, who foisted the Fed upon America, and their genocidal puppets Wilson & FDR, aren’t evil, I’ll eat my proverbial hat sir!

IMHO February 28, 2008 at 7:24 am

Marxbites,

“When the dollar goes to fractions of a penny and gold to near infinity – the charade will no longer be hidden.”

I’m no expert in history, but I want to note a situation where people saw the charade, but opted for the wrong solution.

The Weimar Republic inflated German currency in an attempt to offset the cost of reparations for WWI. German currency became so devalued that it was said that people needed a wheelbarrow to bring home their wages.

The citizens were not happy with this turn of events, and it opened the door for Hitler.

Basically, what I’m saying is that people can end up trading one charade for another.

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