20 October 2012 0 Comments

The Gold Standard v Central Bank – Stability v Monetary Manipulation by Banking and Currency Cartel

Patrick Barron, an Austrian Economist, makes a salient, “core” point about the Gold Standard; Malinvestment, the misallocation of scarce resources, caused by the manipulation of interest rates by the Central Bank and the Federal Reserve, created a “cartel” of banks and currency centrally controlled in Washington, DC by a very few unelected people. READ MORE Patrick Barron Saturday 25 August 2012

From Amazon Review: “The biggest problem in modern banking, according to Griffin, is and has always been the creation of fiat money. Fiat money is money that is “declared” money by the government. It is not backed by anything but promises and deceit. All societies were sound financially when they used gold or silver to back their currency. When the bankers finally get their way and install fiat money, the result is inflation and boom and bust cycles. Griffin gives numerous examples of this, such as repeated failures by American colonies and European states in using fiat money. The purpose of fiat money is so that the government can spend more then they take in through taxes.

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Griffin does believe in the conspiratorial view of history, and he believes that the bankers are working in concert with such groups as the Council on Foreign Relations and the Trilateral Commission to bring about a socialist-world system in which an elite composed of intellectuals and bankers will rule over the entire planet. Griffin even spends a chapter outlining how this system could come about, and the consequent results of this socialist system. These chapters are a bit unsettling, but even if you aren’t interested in this worldview, you can still learn much about the economy from this book. “

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