Tuesday, December 09, 2008

Do you know where our money comes from?

Interesting thing money.

We used to be on the Gold Standard, meaning I could stop into any bank, hand the clerk a $20.00 bill and get a $20.00 gold coin.

In order to increase the money in the system, more gold had to be found, mined, melted, and made into a $20.00 coin.

It limits inflation, which is not, as many would have us believe, an increase in prices, but instead, a decrease in the buying power of our money...

Over time, the middle class increased. My grandfather was able to build his first home in his twenties and live a good life.

We went off the gold standard in 1971.
But before that, we talked the major countries of the world into basing their currencies, their Marcs and Francs and Canadian Dollars on the US dollar.

Now nothing backs the US dollar.
And in turn, nothing backs those other currencies...

The US constitution requires US money to be backed by "...Only Gold and Silver..."

That's why I support Ron Paul's House Bill "HR 2755" to End the Fed.

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