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Tuesday, June 30, 2009

Ron Paul and Currency Competition Part 1

Here we have Dr. Edwin Vieira, the writer of the New Hampshire Gold currency bill.

Dr. Edwin Vieira, Jr., Ph.D., J.D.
November 26, 2007

As America’s inherently self-destructive monetary and banking systems lurch from crisis to crisis—and one foreign country after another announces its intention to reduce its reliance on Federal Reserve Notes as a “reserve” currency, and perhaps soon as any currency at all—I am tempted to say, “I told you so!”

Because I did. I told everyone so in my book Pieces of Eight in 1983, and then again, at quite a bit more length, in the second edition of that book in 2002. In a lighter style, in collaboration with my friend, Victor “Trader Vic” Sperandeo, I conveyed the same message in the novel CRA$HMAKER: A Federal Affaire in 2000. Nonetheless, I do not wish to claim too much credit for this prescience, or just a good guess based on hindsight gleaned from American legal history—nor do I offer it as the basis for a “Genius Grant” from the MacArthur Foundation. After all, the sorry lessons that fiat currency and fractional-reserve banking teach should be obvious to anyone with an IQ higher than his age. Moreover, I am but one of many voices that have warned of the inevitability of these problems.

Now, inevitability has become imminence. The vultures hatched from the arrogance, avarice, ambition, and appetite for abusive powers that have characterized this country’s economic and political “leadership” for at least the last one hundred years are circling above us, anticipating their feast upon our famine. In the menacing shadows cast by their wings, the self-styled “best and brightest” among America’s present gaggle of “leaders” are being exposed as perhaps the worst and stupidest ruling class ever known—a true kakistocracy. For only the worst and stupidest “leaders” of all time could have come to the point of destroying a country so exceedingly rich in human talents and natural resources.

Although this exposure is welcome, if somewhat tardy, it is not enough. That the kakistocracy has made a first-class mess of things is obvious. That it cannot be relied upon any longer for “leadership” is even more obvious. That it must be separated from political power is the most pressing imperative of this day. But exactly what must be done to correct this situation? And who can do it?

America needs to take action to replace the Federal Reserve System and its rotting paper currency before the System’s house of cards finally collapses on her head. Because, when the roof does fall in, a plethora of other very nasty events will follow very soon thereafter. Therefore, before means now.

Even the Establishment realizes as much, which explains its feverish construction of a National police state under the guise of providing for “homeland security”, and its demonization of patriotic dissenters in tirades of hateful defamation that make Joseph Goebbels appear as a paragon of moderation, fairness, and accuracy by comparison. The Establishment knows that its gangrenous monetary and banking regimes cannot be saved, and must be replaced in the near future. And the Establishment doubtlessly has a plan and a schedule for using the collapse of the Federal Reserve System, and the economic chaos it will engender, as the excuse for introducing a new currency—the Amero—as a conveyor belt to move America into the supra-national North American Union.

Events, however, are not proceeding according to the Establishment’s timetable. The mills of the gods do grind slowly; but they have been grinding steadily for a long time, and their work is coming to an end. Countervailing forces are already at work, undermining the Establishment’s position. The present scheme of fiat currency and fractional-reserve central banking constitutes a confidence game in both senses of those words. But if a confidence-man can fool some of the people all of the time, and all of the people some of the time, he cannot fool enough of the people for enough of the time once some critical mass finally wises up. And, as cluttered with noise and disinformation as it is, the Internet is providing the forum through which to assemble that critical mass.

So what is to be done? The solution to the problems the Federal Reserve System poses is to set up a system of competing currencies: Federal Reserve Notes and base-metallic Treasury coinage on one side, silver and gold coin on the other. Actually, America already has all the necessary elements to put such a system into operation:

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