Thread: Money Managers: U.S. Debt Is Giant Ponzi Scheme

Hylander wrote,

The silver issue that is mentioned was due to an agent of the Rothschilds coming to America and bribing congress to take us off silver,

This would have been what is referred to as, "the crime of '73." Also known as "The Coinage Act of 1873." This is when our country demonetized silver and went to a gold standard.

This era was a difficult time period concerning money and monetary policy. From the time Lincoln went towards the "greenbacks" in order to finance the Civil War without depleting the nations reserves of silver and gold to the passage of the Federal Reserve Act is filled with much legislation and turmoil. Three Presidents were assassinated all in one persons lifetime.

Yes McKinley was another commodities oriented Constitutional coin president, but alas, like Lincoln, Garfield, and Kennedy, his understanding money and economics got him killed.

Yet McKinley ran on the "gold bug" platform of the Republican's gold plank. This forced some of the Republicans led by Sen. Teller of Colorado to leave the party and they started a short lived party called the Silver Republicans. They were all for bimetallism, they believed in the 16 to 1 ratio of silver to gold. This leaves me somewhat perplexed concerning McKinley and the accusations of conspiracy surrounding his assassination. After all he was a monometallist. If the gold standard is easier to manipulate, (which I think it by itself is) then he helped move the country closer towards manipulation by leaving silver out of the equation. The argument against "free silver" was the inflationary effects of too much silver and its parity with gold, thus debts would be paid with the cheaper silver.

Another interesting fact during this period is the number of "trade dollars" that were floating around in the economy. These were minted for those who wished to convert their silver bullion into coin. Was there inflationary implications due to their circulation?

"In regard to economic policy, socialism and communism are identical." Ludwig von Mises

While searching for something else I came across these videos with Edwin Vieira. They should fit well here.

http://www.youtube.com/watch?v=pzJEXVm5vxw&NR=1

http://www.youtube.com/watch?v=p4oRkoXf ... re=related pt.1 of 7, neat interview.