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What is fiat money and what does it do?
This is essential to understand since today’s worldwide unbacked paper, or “fiat,” money regime is an economically and socially destructive scheme—with far-reaching and seriously harmful consequences. There is an answer, though, and this lies in ending the money production monopoly of states.
In his writings, Milton Friedman blamed central bank policies for causing the Great Depression.
In addition to the gains in the stock market on Monday, uncertainty about covid, and the economy, is another concern regarding the outcome of this election, as reported by CNN:
This week, all eyes are on the Trump-appointed General Services Administration administrator, Emily W. Murphy, to recognize Joe Biden as the winner of the election and president-elect.
Americans anxiously wait for the final outcome of this election, the Federal Reserve continues on its immovable course towards nationalization of the means of production. Ironically, we vote for a president who has limited power, but a hand on the nuke button; whereas, we don’t vote for the Fed chair, who has nearly unlimited power, and a hand on the economic equivalent to the nuke button; the ability to conjure money out of thin air.
Four years ago, I wrote an open letter to the dismayed supporters of Hillary Clinton in the wake of her loss to Donald Trump. Before celebrating Biden’s win in this year’s election, it’s important to reflect back on the past four years. Remember your frustration, your anger, your fear of someone you believed was unhinged and dangerous being in control of all of the immense powers that are now vested with the federal government of the United States of America.
