Inspired Forum Member
REIN Member

By Glenn Beck

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

Paper Money eventually returns to its intrinsic value ` zero.


Thomas Beyer

Senior Forum Member
REIN Member
Interesting ...

"Only governments are able to take a valuable commodity like paper and make it worthless by applying ink."

Ludwig Van Mises.

Unclear why gold holdings are still relevant but of course if it is missing it is rather weird. With no physical standard of money, so called fiat currency, countries are free to create more. Clearly Germany is one of the winners of the Euro, as they are not only exporting their cars, machinery and kitchens worldwide due to a weak currency ( vs the former German Mark) but also their unemployment to weaker nations like Italy , Spain ...

Germany couldn't win win the first or Second World War , now they take over Europe with the Euro and the ECB.

The Euro is a mistake in my opinion, and that of a fairly large ( usually conservative ) minority in various countries, but it will stay around most likely as the currency race to the bottom continues across the globe. Angela Merkel put it right when she said "Der Euro ist alternativlos." ( There is no alternative to the Euro )