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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I am honesty surprised that Ron Paul has made it this long speaking out against this garbage of a system that has been created. You know... people like that, they just... disappear.
Watch out if your country isn’t using the central banks.... REGIME CHANGE is coming.
Some central banks aren't controlled through the IMF though. When you're not in the club, then you might be in trouble ;)
You had better be using that petro-dollar
Or else!!
Don’t you dare try and have sound money back by gold either.
Petro-dollar or nothing.
Iran has a central bank.
That sucks
Why would any American oppose the dollar being the dominant currency given all the advantages it creates for Americans?
Looking at the Iran currency it seems unlikely to replace the dollar, the biggest denomination note there is worth $1.23 and not stable.
One thing not to underestimate is how great our notes are, we make the best paper money in the world, very hard to counterfeit, that makes it really desirable for people who do cash transactions, like drug cartels and other criminal organizations, and that's why the dollar will be the worlds reserve currency for a while. Consider this, how many billions of dollars worth of illegal narcotics does Iran import annually?
How many billions of dollars worth of illegal narcotics does America import?
Yes, the dollar is still king, it could change though. An economic collapse... for instance...
Perhaps, but it would have to be one where we didn't drag the rest of the world down with us, and things would have to get pretty bad before Americans significantly cut back their consumption of illegal drugs to the point where there was another country that consumed more illegal drugs than us. Ending prohibition would probably be required to end the dominance of the dollar. And that is before you consider that we are the worlds largest producer and consumer of oil and gas.
Interesting and I was just about to buy some gold and silver today.... the price has been slightly dropping recently so maybe it’s a good timer to buy. What makes you think gold/silver prices will rise? Oil has been going through the roof! I wonder when/if it will begin to crash, I know trump wants it cheaper but...
I’ve invested in precious metals and your first 2-3 ounces buy at a price that’s average then wait for it to drop. I only buy it at a certain value now otherwise it’s supporting the artificial price inflation.
Gold and silver is long term safety for a crash. It's a waiting game... lol
I think that crypto will revolutionize the world economy and take the control out of many of the elites hands. We just need to see what will happen with what’s going on in Iran.
Yeah, time will tell, but the future seems to be headed that way... they will try to block it though...
Oh absolutely! They will always try to block it, heavens forbid folks get some true freedom from economic slavery.
Ron Paul has always spoke the truth in the face of adversity.
I was checking you out because I am going to vote for witnesses.
You are the first one I am voting for :) @krnel .
Just loaded eSteem Surfer on my Mac Pro and so easy to vote.
Thanks to @good-karma voting him in too.
Thanks for the support, I appreciate it :)
We are due for a crash. I think the safest bet is to put what money you can into gold and silver and precious metals and other hard assets. Gold and silver is God's money when Fiat money paper money dies the metals always shine. , thanks. @krnel
When was the last time anyone said something positive about the Government? Any government?
All the time I think, plenty of people like statism and governments :)
Well, things may be different over here then. I only hear complaints.
Greetings, I like your publication is very interesting, let me follow you ... blessings :)
Excelent, excelent, excelent post!
In my opinion the crashing of economy is just an plan of conspiracy which is played by elites to gain more control on population so that people can depend upon the government and it becomes easy for government to enslave people.
If someone agree or not but the GOLD is much more what we are thinking means, GOLD is spiritual aspect from ancient days and GOLD reflects the power and that's why elites have more control over GOLD and fiat is just game of paper and it can be put out of circulation and then we will stay with Emptiness.
Decentralised Blockchain is the freedom and any centralised Blockchain will not going to help and inturn the control will be hold by few people and the story will be same as always there means the actions of Centralisation.
Now centralised entities hold fear because Crypto can close their business, but decentralisation and Cryptocurrency is the true freedom for everyone and we have to adopt it if not yest adopted.
Thanks for sharing this post with us and wishing you an great day. Stay blessed. 🙂
I agree
But one thing many who Say dollar is doomed sometimes overlook is Japan and Europe especially are even worse then America plus have lower rates still and thus dollar could and likely will surge in Comparison next crash. Obviously long term dollar will always loose value long term regardless if other currencies are loosing faster but short term (2-10 years) it may not
Long term yes of course
All true information, aside from any of this leading us to freedom. More of the same will not fix our problem. Another politician pleading to regulatory bodies to allow another currency to come into play... just more of the same thing.
At the end of the day none of these "currencies" hold objective value, they are subjective to what everyone agrees they're worth. Cryptos are digits on a screen, try to support yourself with crypto in a global EMP. Gold? Can you build a house out of gold? Eat gold? If the world economy collapsed, I'd be trading my cucumbers for tomatoes, not gold.
The only way an alternative currency could assist in eventually achieving freedom is if we the people begin to use one independently of the systems in place. This would mean;
...just to barely scratch the surface.
A true global rise in consciousness would obliterate the religion of money.