“In God We Trust” appears on all of our physical currency in the United States of America. These currency notes are “legal tender for all debts, public and private”. They are federal reserve notes (FRNs), issued by the Federal Reserve, our central bank.
The Federal Reserve exists as a private corporation and has no real connection to the government. It is not beholden to any governmental laws or jurisdiction.
Entire books have been written on the subject of the international monetary system. Jim Rickards has a potent perspective on such matters, being an insider and financial expert for thirty years. Peter Schiff also has published excellent works, and so has the publisher of the Boom, Gloom & Doom report, Marc Faber.
The only important point here involves freedom. Americans can never be free under the tyranny of a centrally-controlled economic and monetary system. The Founding Fathers never intended that. The power to issue currency does not belong to some mysterious wizard behind the veiled curtains of central bank mandates. It belongs to the people.
The founders of America sought out to create an independent republic free of such arbitrary controls. For over a century now, we the people have let them down. Their sacrifices have proven to be all in vain. For as a country, we have stood idly by and enjoyed the decadence provided by freedom-fueled prosperity…all the while neglecting to protect that precious fuel.
Our fuel will soon run out, as the noose tightens around our neck. The destroyers’ control has led to untenable systemic risk. And just as in times past, when that control leads to collapse, it will be freedom that takes the blame. “Capitalism has failed, we need government intervention to save it”. This fallacy has been perpetuated upon the masses for generations, and will be utilized by the ruling-class again.
As one can see here, M2 velocity of money has fallen off a cliff in recent years. Velocity of money can be likened to the pulse of an economy. The more economic activity, the greater velocity (amount of times a piece of currency changes hands). M2 at all-time record lows does not bode well for America or the global economy.
Global trade has also collapsed. As seen here, the Baltic Dry shipping index has fallen to record lows. Though it has since bounced off the bottom, world trade has still never been more stagnant. No demand exists – hence no goods need to be shipped.
In the midst of this global economic crisis lie the central bankers.
For generations, these unelected bureaucrats have been perceived as omnipotent demigods. Now, at last, they will be revealed as the incompetent cowards they have always been.
The public has begun to lose faith in these institutions, and rightfully so. Their actions make even less sense than their words; and soon they will be forced into actions that will precipitate their own demise.
It will be one glorious day for freedom indeed.
What do you think? Do you enjoy having your fate placed in the hands of unelected bureaucrats? Feel free to leave a comment below, and share this post on social media by clicking the title and using the share buttons at the bottom.
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