Sunday, September 21, 2008

The Fiat Money System

An important point to keep in mind when sifting through the current news about the $700 billion bailout, according to Griffin, is that the purpose of the Federal Reserve system is to pass the losses of banks to tax payers.

The opportunity for reform is closing as we speak. The popular discourse on this topic has no understanding of how this sleight of hand is occurring.

FYI, I'm not at all convinced by the Ron Paul solution advocated by Griffin, and am unsatisfied by the one in the video. There is no discussion of Depression era solutions because they take the anti-government stance.

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