January 12, 2011
Chadwick Matlin, a guest contributor writing for Reuters, attempts to connect Jared Lee Loughner to the growing movement for sound money in the United States.
“Loughner picked up threads of two different subcultures: one that demands the Fed stop manipulating the dollar, and the other that seeks to remove the Federal government from manufacturing currency altogether. This is not to say that these monetary subcultures drove Loughner to kill. But it does suggest they were two of his ideological sanctums,” Matlin writes.
In fact, Loughner did not have an ideological sanctum. As the growing evidence about the accused gunman reveals, he suffers from paranoid delusions fueled by Salvia Divinorum, a powerful hallucinogen. Part of his deluded sanctum apparently also included voodoo rituals.
Matlin dismisses sound money based on a gold standard as impractical. He equates the “libertarian ethos” – abolishing the Federal Reserve and its fiat currency – with disjointed and irrational videos the killer produced before he shot Rep. Giffords and others in an Arizona parking lot.
For Matlin, the idea of preventing international bankers from manipulating the money supply is impractical. He cites Christopher Beam, who argues that the gold standard is foolish, in the realm of extreme fantasy, essentially a joke, and has nothing to do with the “modern economy,” that is to say an economy established and manipulated by private central bankers and the Federal Reserve since 1913.
Matlin and Beam, of course, ignore the main argument for a return to a gold standard – it would prevent the bankers from creating inflation by artificially expanding the money supply.
- A d v e r t i s e m e n t
Keynesian economics and ideology have allowed bankers in league with their hirelings in government to depreciate the value of our currency. Fiat money is not backed by any standard other than government decree issued at the behest of the bankers.
“Boiled down to its essentials, a central bank is a bank that has been granted a monopoly over the issuance of currency,” notes Liaquat Ahamed, a former employee of the World Bank turned financial historian. “This power gives it the ability to regulate the price of credit – interest rates – and hence to determine how much money flows through the economy.”
Inflation, artificially created economic bubbles, the theft of middle class savings by the financial elite – all are the result of the arcane sleight of hand of central banks abroad and the Federal Reserve at home.
The end of fractional-reserve banking and a return to a mandated gold standard will prevent the monkey business engaged in by the Federal Reserve and European central banks.
Jared Lee Loughner’s irrational currency ramblings offer the establishment and its intellectuals a chance to tarnish the growing movement toward sound currency and the elimination of the Federal Reserve.
The corporate media has focused in on Loughner’s statement that he would not “pay debt with a currency that’s not backed by gold and silver” and has concluded that he is a member of the so-called far right, even though he spoke highly of Karl Marx, thus revealing a serious dichotomy.
The argument presented by Chadwick Matlin – the gold standard is foolishness, something supported by a deranged mass murderer – will continue to be used by the establishment as a growing chorus of voices demand the Federal Reserve be eliminated.
Kurt Nimmo edits Infowars.com. He is the author of Another Day in the Empire: Life In Neoconservative America.
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