Chester McAteer

In a letter to George Mason, some timeless truth from Richard Henry Lee.

"Knaves assure, and fools believe, that calling paper money, and making it tender, is the way to be rich and happy; thus the national mind is kept in constant ferment; and the public councils in continual disturbance by the intrigues of wicked me, for fraudulent purposes, for speculating designs."
(15 May 1787)

Today, at least prior to this latest "stimulus", it took $26,567.07 Federal Reserve Notes to purchase what $1,000.00 U.S. Gold Backed Dollars bought in 1913. Today each of our Federal Reserve Notes, that we think of as money, has the purchase power of approximately 0.0378501135503 40651022 Cents compared to a 1913 U.S. Gold Backed Dollar which had the purchase power of 100 Cents.

Under all fiat monetary systems, which are nothing but artificial constructions of political and financial powers, money and credit are "created” from nothing, but therein is the problem, eventually the "nothing” reveals itself politically, economically and socially.

There is no escaping the fact that "something” of value can't be created from "nothing”. Due to this system, there has evolved an irrational disregard for the obligation of contract, the fiat monetary system cannot abide with such obligation for all contracts under fiat monetary systems are essentially void since the instrument of such financial contracts is itself non-contractual by the very fact that it is fraudulent.

In particular, in all government obligations, there is, by the very nature of a government sponsored fiat monetary system, nothing that can approach actual debt satisfaction, the system does not allow for it to occur.

There is no fiat monetary system that can provide for the satisfaction of debt since fiat money is an artificial creation and all credit founded on such a system is based entirely upon the operations of that artificial creation. Debt can only be discharged through the payment of assets for assets borrowed. The idea that this government and its specially endowed patronages in banking, can discharge existing debt through substituting a present debt for the existing debt and calling it paid is perhaps, one of the greatest illusionary absurdities ever dreamed up by man.

One cannot expect the long acceptance of a liability as payment for assets, it simply cannot go on forever, the ruse might last for decades, but it will come to a chaotic end. The insanity is completely unbelievable!

Posted by: Timothy Birdnow at 09:36 AM | No Comments | Add Comment
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