Currently, there is no free market economy in the United States. This is due to people in and out of government acting as a conglomerate that runs the economy. So says Ron Paul who wrote a piece for the Mises Institute recently. Paul wants a legalization of competition to the US dollar. Absent such an impetus, the government could derail efforts that would enable a freer society with individual freedom and world peace.
Sources: wikimedia, Credit: Gage Skidmore, CC BY-SA 2.0; wikimedia, Public Domain; pixabay
As it stands, there is a centrally planned economy that is essentially under government control. Certain forces, like the Federal Reserve Bank, are able to manipulate the economy and prevent market forces from applying corrective measures. Central planning of the economy by the government is manipulation of the economy, and the longer the manipulation continues, the less market forces are able to apply correction and the greater the bubble grows that leads to an impending disaster.
The fantasy that central planners put out gets people to believe that the US dollar is strong. But it's only a house of cards that keeps getting bigger as more dollars keep getting produced. The government is trillions of dollars in debt, over $21 trillion, and the taxpayers are going to foot the bill for expenses they never engaged in or approved.
Reports of economic growth are false and manipulated. The government manipulates an artificially low inflation rate and wants to raise it to promote the appearance of a strong economy. The consumer price index and gross domestic product are not statistical realities when those paying household bills can see how far that fantasy is from the reality they live. Gold used to be the standard, with the US dollar being backed by gold, that was removed by Nixon. During the Great Depression, the government controlled the price of gold which demonetized precious metals. The same is being done today in order to artificially suppress gold and give the impression that the US dollar strong. But it's all a con game.
Gold isn't the only thing being manipulated, as stocks and bonds are artificially high in the current bubble of fantasy. Interest rates are kept lower than what the market would determine to be, and this produces easy money for the market to keep being invested in and keep the bubble growing. As the deficit is ignored by government saying it's insignificant, the Plunge Protection Team (PTT) continues to protect Wall Street money managers from real free market corrections, as it has since the 1980s.
Too much spending is a problem. The massive debt is largely incurred by massive war and welfare efforts. But an alternative monetary system could change the game. Other countries, like Iran, are already challenging the US dollars dominance in the world market as the global reserve currency.
Cryptocurrency is coming on strong, and nations that have problematic economies are starting to seriously consider it. This doesn't leave gold out of the picture. There is a renewed interest in gold in the world's monetary system. Gaddafi tried to implement such a solution, but was taken out shortly after. Those in power are against nongovernmental alternatives to the current monetary system because they will lose their dominance and power on the world stage.
Gold once held a stronger position, but the collapse of the Bretton Woods agreement in 1971 that officially linked the US dollar to gold expanded the fiat dollar standard and its use as the global reserve currency. This ensured US dollar dominance, and therefore lets the US government have a license to steal and create financial crises is across the globe.
Ron Paul wants a return to precious metals like gold and silver, and also supports cryptocurrencies. He wants individual freedom and peace to rein, through free people deciding in a free market to choose what currencies they want to use without being coerced by government. But this requires competition in a free market, and that's what the government doesn't want to allow as an honest competition against the US dollar.
Many politicians and investors see the disaster coming down the line with this enormous system of depth that isn't sustainable. Government power will need to be restrained and controlled in order for society to move towards a freer monetary system that doesn't revolve around one particular nation. Ron Paul has a plan to get things moving in the right direction, suggesting:
- Legalization of competing currencies.
- The removal of capital gains and sales taxes on money.
- Zero tolerance for fraud.
- The repeal of fall legal tender laws.
- An audit of and possible elimination of the Federal Reserve.
- Exposing the fraud of fractional reserve banking.
- Audit the CIA, Pentagon and foreign expenditures.
- End bailouts of both private and government entities.
- Consider crypto, precious metal and real estate ownership.
- Consider expatriation for some.
If the government keeps growing and expanding its power over the economy, Ron Paul warns that none of these measures will help. He says blockchain technology could be used to support a value-added tax to give the government even more power to collect taxes and grow in dominance over our lives. But he hopes this won't happen.
Thank you for your time and attention. Peace.
References: The Dollar Dilemma: Where to From Here? | Bitcoin, Gold-Backed Currency Can Coexist in Free Society: Ron Paul
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