Friday, February 11, 2011

Abolishing the Fed is not the first step, its the last

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Notwithstanding the intelligence and truth of what these guys say, they seem inclined to blow smoke up people. The notion that the voter is intelligent is more intelligent than Ben Bernacke strikes me as a poor explanation. The reality is that the current need to recapitalise economies is because:
1. The mistakes made years ago which voters and other vested interests did not object to
2. The ease with which governments can print money and create debt
3. The banks are just another vested interest group

The problem is that voters do not use their minds...they didn't a decade ago; they didn't two decades ago. If they did know, they would not vote for the type of monetary policy pursued by both sides of politics in the USA by the Democrats and Republican Party. The notion that we are going to be saved by a single member of the Republican Party - Ron Paul - strikes me as lunacy. This happened because voters are short-range thinkers. It happened because our political system rewards poor decision-making. Even the nature of the stimulus has been poorly invested. At times of low demand, it should have been invested in infrastructure like high-speed railways or energy efficiency measures. Not encouraging more consumption. The reality however is that the worst mistakes were made a decade ago when most people did not care that there was a problem. I know Jim Rogers has been ranting for at least 5 years (probably longer); I have been ranting for 10 years, and neither of us were alone. Its been in the works for a decade; but the voter listens to the uncritical mainstream media which has no interest in truth where it concerns government.
The solution is a meritocracy; thereafter to end the role of the Federal Reserve and to restore a tangible concept of monetary value - that is gold.

Andrew Sheldon
Resource Rent Tax
Applied Critical Thinking |

ConvinceMe.Net - Anyone up for a debate?