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Ben Cerruti
What's Happened to the Purchasing Power of the
Dollar
October 10, 2009
I ran across this graph at
CampaignForLiberty.com which I think every American should view. A
picture is worth a thousand words and this one illustrates what the
Federal Reserve System, aided and abetted by the Federal Government's
deficit spending policies, have caused. There is good reason why this
country has undergone another economic tsunami which will lead to
eventual economic suicide. The only one way to prevent this from
happening is to recognize the event that caused it and then attempt to
reverse it.
In 1913 the 16th Amendment to the Constitution abrogating the original
words "no capitation, or other direct, tax shall be laid unless in
proportion to the census or enumeration herein before directed to be
taken" was enacted. This allowed the imposition of a federal income tax
and allowed the Federal Government to take tax money derived from one
State and give it to another. Along with the act another act established
the Federal Reserve System. There is no mystery why both were enacted at
the same time as the progressive legislators in power at that time
needed complete "power of the purse" to establish the centralized power
of the Federal Government. It is obvious that efforts to repeal these
acts are paramount.
Over the last century, with the ability to essentially buy legislative
influence with campaign contributions and other benefits. progressive
elements have been successful in having legislation passed that induced
many to look towards the Federal Government as the entity to take care
of their daily problems. In doing so the freedom endowed by our creator
of life, liberty and the pursuit of happiness have been incrementally
eroded. There is no free lunch and this is becoming apparent with each
passing day. In electing a President whose actions follow the teachings
of Karl Marx we find the ultimate progressive ready to have us all pay
the piper by way of a fascistic form of government. One in which the
purchasing power of our "fiat" currency would be worthless and probably
be replaced by a world currency with greatly reduced value.. It should
be apparent that the prosperity experienced in the past would be
diminished since the incentives for entrepreneurs to gain an adequate
return for their investments would in turn be diminished.
Thus readers, if this makes sense to you as it does to me, strongly
oppose every piece of legislation supported by this present
administration, even though it may seem to be harmless. When legislators
themselves do not have the time to read that on which they vote it must
arouse suspicion. There are many ways to change bills that have been
written in either chamber and especially when the leaders of both houses
of Congress come together to reconcile their respective bills into one
that will be submitted to the President.
Finally, there are movements in this
country to repeal the acts heretofore mentioned. When you hear of them
please support them. There are more than two political parties in this
country and perhaps the time has come to look at all of them before
making your voting decisions. |
