bobbyw24
05-07-2011, 06:07 AM
It should come as no surprise that the premier mouthpiece of American Establishment official opinion, The New York Times, is hostile to the traditional gold coin standard or any state-guaranteed version of the gold standard.
The New York Times used to be called "the gold standard of journalism." But it was always a fiat standard. And like the fiat United States dollar, its value keeps sinking.
The gold coin standard places limits on a central bank's ability to create money out of nothing, meaning counterfeiting. This is why its critics hate it.
At the center of almost every national economy today is a central bank that has been granted the government-sanctioned authority to intervene in the financial sector on behalf of large multinational banks. In the city of over-leveraged multinational banks, the New York Times wants no limits placed on the ability of the Federal Reserve System to bail out over-leveraged multinational banks.
The Times is well aware of the fact that Ron Paul is most famous for his position, which is also his book's title, to end the FED. This position was considered crackpot, even within conservative political circles, prior to Paul's run for the Republican Party's nomination for President in late 2007. His was a well-timed candidacy. The economy went into a recession in December of 2007.
His stand against the FED spread rapidly in late 2008, after the FED and the U.S. government bailed out the biggest banks. The anti-FED genie is out of the bottle. Never before in America's post-1913 history has there been this much public opposition to the FED.
The Times can do nothing about this, other than to publish an occasional obligatory article that announces: "You know where we stand." Of course we know. We also know that the fiscally besieged Times is going bankrupt.
http://www.lewrockwell.com/north/north979.html
The New York Times used to be called "the gold standard of journalism." But it was always a fiat standard. And like the fiat United States dollar, its value keeps sinking.
The gold coin standard places limits on a central bank's ability to create money out of nothing, meaning counterfeiting. This is why its critics hate it.
At the center of almost every national economy today is a central bank that has been granted the government-sanctioned authority to intervene in the financial sector on behalf of large multinational banks. In the city of over-leveraged multinational banks, the New York Times wants no limits placed on the ability of the Federal Reserve System to bail out over-leveraged multinational banks.
The Times is well aware of the fact that Ron Paul is most famous for his position, which is also his book's title, to end the FED. This position was considered crackpot, even within conservative political circles, prior to Paul's run for the Republican Party's nomination for President in late 2007. His was a well-timed candidacy. The economy went into a recession in December of 2007.
His stand against the FED spread rapidly in late 2008, after the FED and the U.S. government bailed out the biggest banks. The anti-FED genie is out of the bottle. Never before in America's post-1913 history has there been this much public opposition to the FED.
The Times can do nothing about this, other than to publish an occasional obligatory article that announces: "You know where we stand." Of course we know. We also know that the fiscally besieged Times is going bankrupt.
http://www.lewrockwell.com/north/north979.html