Exactly---
redrum said:
to say it "has never worked anywhere" is disingenuous because no politician has ever had the courage nor the temerity to truly implement it. why would they when they can steal money from the public and enrich themselves by creating inflation? think about it.
Austrian money philosophy was implemented very successfully in the United States from its founding through the Civil War. And by successfully we mean that inflation, the thieve hiding under a burka, was controlled by sound money theories and implementation. Thus, the Constitution of the United States clearly states that money must be metal-backed and produced at zero interest with debt being created by the people, which is their government, and not by a private central bank. I refer our Keynesian-believers to Thomas Jefferson, who wrote at length about the matter:
“All the capital employed in paper speculation is barren and useless, producing, like that on a gaming table, no accession to itself, and is withdrawn from commerce and agriculture where it would have produced addition to the common mass… It nourishes in our citizens habits of vice and idleness instead of industry and morality… It has furnished effectual means of corrupting such a portion of the legislature as turns the balance between the honest voters whichever way it is directed.” ~Letter to George Washington, 1792
“The monopoly of a single bank is certainly an evil. The multiplication of them was intended to cure it; but it multiplied an influence of the same character with the first, and completed the supplanting the precious metals by a paper circulation. Between such parties the less we meddle the better.” ~Letter to Albert Gallatin, 1802
"I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." -- Thomas Jefferson -- The Debate Over The Recharter Of The Bank Bill, (1809)
“I sincerely believe… that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale.” ~Letter to John Taylor, 1816
