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Thread: The Neo-Alchemy of the Federal Reserve

  1. #1
    Member Lucille's Avatar
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    Default The Neo-Alchemy of the Federal Reserve



    http://www.zerohedge.com/contributed...0/fiat-alchemy

    The Neo-Alchemy of the Federal Reserve
    http://paul.house.gov/index.php?opti...1688&Itemid=69

    Our central bankers have had a tremendous amount of hubris over the years, believing that they could actually manage a paper money system in such a way as to replicate the behavior and benefits of a gold standard. In fact, back in 2004 then Fed Chairman Alan Greenspan told me as much. People talk about toxic assets, but the real toxicity in our economy comes from the neo-alchemy practiced by the Federal Reserve System. Just as alchemists of the past frequently poisoned themselves with the lead or mercury they were trying to turn to gold, today’s bankers are poisoning the economy with accelerated fiat money creation.

    Throughout the ages, gold has stood the test of time as a consistently reliable medium of exchange, and has frequently been referred to as “God’s money”, as only God can make more of it. Seeking superhuman power over money in the way alchemists did in ancient times caused society to shun them as charlatans. In much the same way, free people today should be sending the message that this power and control over our money is no longer acceptable.

    The irony is that even had the ancient practice of alchemy been successful, and gold was suddenly, magically made abundant, alchemists still would have failed to create real wealth. Creating gold from lead would have cheapened its status to that of rhinestones or cubic zirconia. It is unnatural and dangerous for paper to be considered as precious as a precious metal. Our fiat currency system is crumbling and coming to an end, as all fiat currencies eventually do.
    We really should start calling fiat supporters neo-alchemists. We can start with this clown:

    Obama Aide Writes Bad Verse
    http://www.lewrockwell.com/blog/lewr...es/126657.html

    Tweets Keynesian Austan Goolsbee:

    Roses are red. Violets are pink. Don't listen to goldbugs. No one cares what they think.
    "The State, both in its genesis and by its primary intention, is purely anti-social. It is not based on the idea of natural rights, but on the idea that the individual has no rights except those that the State may provisionally grant him. It has always made justice costly and difficult of access, and has invariably held itself above justice and common morality whenever it could advantage itself by so doing."
    --Albert Jay Nock



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  3. #2
    Moderator Kotin's Avatar
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    Default

    I really enjoy all your posts!!!

    really apt title to the article as well hehehe



    Rightful liberty is unobstructed action according to our will within limits drawn around us by the equal rights of others. I do not add 'within the limits of the law' because law is often but the tyrant's will, and always so when it violates the rights of the individual. - Thomas Jefferson
    I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain.

    - Bene Gesserit Litany Against Fear

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    Member Lucille's Avatar
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    Thank you so much, Kotin! You brightened a pretty gloomy day for me with those kind words.

    When I saw Banzai's Fiat Alchemy post, I just knew Ron had to have called them that before, and I searched and there it was. Heh.
    "The State, both in its genesis and by its primary intention, is purely anti-social. It is not based on the idea of natural rights, but on the idea that the individual has no rights except those that the State may provisionally grant him. It has always made justice costly and difficult of access, and has invariably held itself above justice and common morality whenever it could advantage itself by so doing."
    --Albert Jay Nock

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    Default

    That's a great description.

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    Member jkr's Avatar
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    exactly what it is


    "HEY! THIS IS MONEY!"

    not even chemistry required





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