The Government as Identity Thieves
The spotlight remains on the Greek sovereign debt crisis as the riots continue. The terms of the Greek bailout from the IMF and Eurozone countries remain contentious with citizens on all sides. Europeans hate having their governments throw public money away as much as Americans do. The Greeks are not happy about having their taxes raised while their pensions and salaries are cut. Meanwhile, it is rumored by the Financial Times, AFP and others that Greece may spend more than it saves from austerity measures on arms deals with Germany, France and the US as a potential condition of receiving bailout funds. If true, it is certainly not unprecedented for the global military industrial complex to benefit from deals made by their friends in the central banking community. After all, war is the health of the state. The last thing big government proponents want is for peace to break out in the world.
This free flow of fiat money from around the globe to Greece will not really save Greece as much as it will grant a temporary reprieve to central bankers from the consequences of their mistakes. Sadly, this will come at the expense of the Greek people and taxpayers in Europe and America. Taxpayers are of no consequence to either European or American central bankers. Even the mere desire for complete information on what they are up to in our name is rebuffed, as we saw last week in the Senate with the failure of Senator Vitter's amendment containing my language to fully audit the fed. The hubris of powerful and secretive central bankers seems to know no bounds.
If someone incurred debts against you as an individual, without your knowledge or consent, you would call it identity theft. You would call your bank for a full accounting of the debts incurred in your name, and after some verification, those debts would be declared invalid and you would not be held responsible for them. Furthermore, if the culprit was found, they would be prosecuted and sent to jail.
Not so with governments and central banks. Governments that are supposed to be of the people and for the people routinely incur debts against the people. Some governments even borrow money to oppress their citizens, and then expect them to pay for their own oppression with interest. With a fiat monetary system, the sky is the limit for how much debt a government can place on the backs of the people.
We have reached the point in the United States where the debt our government has accumulated against us is mathematically impossible to pay off. Harder times, likely due to a wave of hyperinflation, will eventually find its way to our streets and I am fearful of how Americans will react. My hope is that we will come together peacefully and help each other, and that enough of us will be aware that the blame rests securely on the shoulders of the Federal Reserve and the special interests. They should not be looked to for salvation. They should not be given more power. Rather, they should be stripped of the powers that allowed them to create this mess in the first place.
Resistance to public transparency regarding public debts should be denounced in the strongest of terms, and the central bankers that incurred them should be seen as no better than common identity thieves.
Posted by Grace Hansen on 05/21/10 02:27 PM
Dr. Paul will continue to be my write-in until this nation sees the light - or gets sucked into a black hole - whichever comes first. Thank you for being the voice in the wilderness and please know there are legions supporting you!
Posted by Coldfire on 05/20/10 04:16 AM
Brave and true words of wisdom. More power to you, Dr. Paul.
Posted by Cj Coates on 05/20/10 03:42 AM
Dr Paul as always has our best intrests in his wise vision. Congratulations to his family for his sons primary victory.
Englands recent election and now today coming out with the new agenda for the coalition governmentis extremely good news for waking up America. I am excited because what happens over the pond just may influence the average American to demand more from their Congress. If the new coaliton government actually does bring more freedom back to England, and more control over government spending, this example can only speed up real change in American Governments abuse of power. Long live the Queen.
Posted by Todd S. on 05/18/10 07:10 PM
I don't see a problem with the term "taxpayer". After all, continually issuing new fiat money causes inflation, and what is inflation but an insidious tax?
Posted by Beverlee on 05/18/10 04:17 PM
Thanks for posting such a logical, rational, and easily understood article. Sometimes those who speak clearly, with simple examples and conclusions are regarded with suspicion as not savvy or intelligent by MSM and other pretenders. Dr. Paul, with his gentle, consistent, truthful approach, might just be the one. (In the words of Oprah Winfrey: "He's THE ONE!") Why can't the truth succeed with its own promotion fueled by the internet?
Posted by MisterEC on 05/18/10 03:30 PM
The problem lies in the dumbing down of Americans, by a government that is willing to stay in power term after term. The American public on the whole is too stupid to know that the benefits voted for themselves will destroy them. That the 78 million baby boomers will still demand the benefits given them when they retire in a economy where most all good jobs have been sent overseas by the government. Ross Perot warned about this sucking sound that what we are hearing.
Another great leader, Eisenhower warned us about the Military Industrial complex.
Many good leaders have warned us about private banksters.
WAKE up sheeple, I fear it is too late!
Posted by Scottleier on 05/18/10 02:30 PM
Dr Paul, i want to thank you for explaining to the common man what is really happening, in terms that are clear and concise. it is great having you as a contributor to the Bell. Blessings to you.
Posted by Brian Miller on 05/18/10 01:39 PM
Dr. Paul should be recognized and praised for being one of the few US political leaders with the insight and integrity required to be forthright and honest with the citizens of the USA. Unfortunatey,many of our political leaders over the last fifty to seventy years have by their death avoided the condemnation they so richly deserved.
Reply from The Daily Bell
Brian, we edited this. Please don't call for people's deaths on this site. We are non-violent and anti-war. Probably anti-capital punishment as well - certainly when it comes to state-mandated justice (an oxymoron?) and death sentences.. Try instead to affirm life and vibrancy of education and mass movements of positive protest, etc. ... Thanks.
Posted by Pragmatico on 05/18/10 10:12 AM
Just one comment not intended to be disparaging but rather one to promote greater clarity about what is really going on. It's common for public figures and media to talk of "taxpayer" bailouts, etc., as though it's just taxpayers that are doing the bailing. Well, since only about half the population (at least in the U.S.) is paying taxes, and since government borrowing and the act of fiat-money conjuring impact ALL who use that money (i.e., "fiat money dependents"), wouldn't it be a good time to impose a sanity check on the terminology we habitually use? We may be stuck in a groove, here.
Yes, real "taxpayers" do indeed get hit a bit harder, especially if they are in the "target" categories, but maybe some verbal imagery here will get the non-taxpayers to recognize that they have quite a bit of skin in the game, too. Lots of skin.
"Citizens" doesn't work, of course. "Fiat money victims?"
"Magic money victims?" "Money users?"
Okay, I'm just throwing ideas out to break the ice. Any better suggestions? When Dr. Paul writes articles and editorials and talks before Congress and TV interviewers, can you think of a better term than "taxpayer" for him use to render his points even more poignant?
Posted by Chuck on 05/18/10 10:09 AM
Dr. Paul's competition in currencies bill is a huge step in the right direction. It would allow Americans to embrace the free market and invest in the future of their families in any fashion they wish. We should not be tied down to the Federal Reserve Note.
No matter how much the "social democrats" prop up and blow hot air into our broken system, the free market always wins. Unfortunately in the direction we are headed, that free market victory will avail itself to us in the form of loaves of bread costing $150 in our stores. The sad fact is that is something that not a lot of Americans can handle, which I also believe to be a plan of the elite. Neighbors are strangers. When one drives down a street today in America, all that is seen is the glow of TV screens. Americans need to band together, turn off the TV, and get to know their neighbors. It may be the difference some day.
Back to open currencies. Americans having a choice in which commodity to invest wealth would greatly limit the controls of certain aspects of the economy put in place by the elite. The natural flows a free market can work to balance things out, shake off toxic parts, and the human element can stopped being largely ignored. There is ample evidence throughout history of free, honest banking and markets propelling civilizations to the top of the economic ladder for centuries (Byzantine Empire reigned, with worldwide currency status for 800 years. Or American soldiers using cigarettes as currency in Europe at the end of WWII).
Support HR 4248. Though we are very deep in, this piece of legislation would greatly soften the blow.
Posted by Floyd on 05/18/10 09:02 AM
"The last thing government proponents want is for peace to break out in the world."
What a great statement! Only someone dedicated to improving our horrible situation would think of that one. Washington needs more like Ron Paul and Mr. Paul should be in a higher office. Of course even as president he can't do it alone so let's start this November to get his dissenters out of office.
Posted by Doug on 05/18/10 08:57 AM
I'm not sure Gold is specifically the long term solution. It has problems (though MUCH less than FIAT based currencies). I don't have an alternative except the thought that it would be nice if we could have currency that is backed by a various types of REAL things with REAL value.
Posted by F. Beard on 05/18/10 08:20 AM
I wrote in Dr. Paul's name in 2008 and have a bumper sticker supporting him too. I hope he runs in 2012.
It's nice to see The Daily Bell getting posts from heavy hitters like Dr. Paul. Congratulations!
Posted by Bimini Cohen on 05/18/10 07:49 AM
Wake up America and kick the bums/freeloaders out! Eliminate the Federal Reserve before it's too late. Ron Paul for President! Pray for him and his family's protection. He speaks and stands for the truth.
Posted by Clayton on 05/18/10 04:27 AM
Thank you Dr. Paul for your endless work on behalf of our civilization, and your compassion for its largely ignorant and self deceived people. I sported your name on my car, here in the heart of so called Liberalism, Marin County, Calif. When you started your Audit the Fed campaign, I went out and got a large sign magnet that said, "End the Fed." It sure confused a lot of folks on the road, which surprised me. It told me that we have our work cut out for us. It took us a hundred years to get into this mess and it may take another hundred years to dig our way out. Education is the key.
I am 9 years younger than you are, but I can still remember having silver money in my pocket. The pennies were even made of copper. So we have had experience with money that had commodity value and could be actually thought of as "Outside Money," money that is money in and of itself. Consequently, our connection to honest money is more tangible than it otherwise would be had we not have that early experience. This increases the difficulty of our task.
Our government is now behind the veil and will remain there for the rest of its existence. It cannot possibly come out in the open and survive. 9/11 was the Rubicon for the American Republic. What does the Banking Crisis and 9/11 have in common? Hiding the evidence!
Such great crimes have been committed, such rampant thievery has occurred, such blatant abuse of power has taken place that there is no turning back. These Power Elites are shackled to their lusts, their vanities, and their contempt towards all who would question or oppose them. They have gone "all in."
You are our man in Washington. For all of us who have no one to represent us, you are our Congressman, regardless of where we live. You prove the point that one man can make a difference.
My wife and I thank you and your wife. We also thank you for bringing such a beautiful family into the World. That is a true act of Love and demonstrates your nobility. I would not want to pressure you, but if you are up for a Second Crusade, we are here ready to support you.
Posted by Ernest Johanning on 05/18/10 04:15 AM
"GOLD" The currency of free men!