The Neo-Alchemy of the Federal Reserve

[Lucille]

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.

[Kotin]

I really enjoy all your posts!!!

really apt title to the article as well hehehe

[Lucille]

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.

[Sola_Fide]

That's a great description.

[jkr]

exactly what it is


"HEY! THIS IS MONEY!"

not even chemistry required