| Alameda, Santa Clara County, CA | June 3, 2008 Election |
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Sound CurrencyBy Paul R. ReederCandidate for Member, Republican Party Central Committee; County of Alameda; Assembly District 20 |
This information is provided by the candidate | |
U.S. Constitution Article 1, section 10.Today, the FED and the U.S. treasury work in collusion to print money any time the government wants to in order to pay it's bills. When money is created, we lose the value of our own money. Those at the source of the newly created money (the government or those who are directly working for it) get the full value of that new money, but those of us get the end result of our money becoming worth less. As the supply of money goes, there is always a perception in the market that there are more dollars, and there are. This leads everyone to conclude that the dollar is of less value than it was before, and the market adjusts for the difference with what we call "inflation". This is a deceptive term that has been coined and used, very sucessfuly, by the wordsmiths to allude to the idea that prices are just "inflating" and that this is the result of the free market in operation. Nothing could be further from the truth. Inflation should be more appropriately termed "devaluation" as this is precisely what it is. Inflation is not the cause of high prices, an increase in the money supply is. Article 1, section 10 of the U.S. Constitution states: "No state shall enter into any treaty, alliance, of confereration; grant letters of marque and reprisal; coin money; emit bills of credit; make any thing but gold and silver coin a tener in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the oblligation fo contracts, or grant any title of nobility." Our currency, or Federal Reserve Notes, are just a bill of credit. They have no intrinsic value except the paper that they are printed on. It is the people's faith in the dollar that sustains it and the fact that the government accepts it as a form of payment for taxes. It is backed by nothing. It is created by debt. The 10th ammendment states: "The powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively or to the people." From this we can infer that because the federal government has not been given the specific authority to emit bills of credit either, that it cannot. The FED was created in 1913 to supposedly protect the economy from shocks. The legislation sold as a protective mechanism and ever since, the dollar has become weaker and weaker. For a full story of the FED and central banks in general, read "The Creature from Jekyll Island" by Ed Griffin. Have you noticed how everything is becoming more "inflated" lately? From milk to gas and everything inbetween, we see prices going up, up, up. But ask yourself, is this the result of "inflation" or is it the result of too many dollars being printed? We need to return to sound money and reject the idea of "bills of credit". |
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