Posted on 12/27/2010 11:45:35 AM PST by george76
Sometimes the apple does fall very, very far from the tree. A must read essay by Howard Buffett, father of the "legendary" investor who initially was so very much against derivatives then promptly changed his tune, discusses fiat money and gold, and concludes that "human freedom rests on gold redeemable money."
... Buffett's father stresses the relation between money and freedom and contends that without a redeemable currency, an individual's freedom and one's access to property is dependent on goodwill of politicians. Buffett also says that paper money systems generally collapse and result in economic chaos. He goes on to observe that a gold standard would restrict government spending and give people greater power over the public purse...
when you recall that one of the first moves by Lenin, Mussolini and Hitler was to outlaw individual ownership of gold, you begin to sense that there may be some connection between money, redeemable in gold, and the rare prize known as human liberty...
Lenin declared and demonstrated that a sure way to overturn the existing social order and bring about communism was by printing press paper money... Unless you are willing to surrender your children and your country to galloping inflation, war and slavery, then this cause demands your support. For if human liberty is to survive in America, we must win the battle to restore honest money."
(Excerpt) Read more at zerohedge.com ...
Howard Buffett Said "Human Freedom Rests On Gold Redeemable Money", Called For Return To Gold Standard
“Buffett also says that paper money systems generally collapse and result in economic chaos”
Correction: Paper Money Systems ALWAYS COLLAPSE.
People have to be free to acquire and dispose of assets and property. Hard money is not a requirement for freedom. In fact, such a high degree of liberty (and its preconditions) is required for the use and acceptance of fiat currency that it is susceptible to crossing the line into license.
Well, Buffett is certainly not going to support the rule-of-law or he’d be in jail.
Prophetic!
Get ready — it’s coming back in spades!
“Blood running in the streets. Mobs of rioters and demonstrators threatening banks and legislatures. Looting of shop and home. Strikes and unemployment. Trade and distribution paralyzed. Shortages of food. Bankruptcies everywhere. Court dockets overloaded. Kidnappings for heavy ransom. Sexual perversion, drunkenness, lawlessness rampant. The wheels of government are clogged, and we are descending into the vale of confusion and darkness. No day was ever more clouded than the present. We are fast verging on anarchy and confusion. (George Washington in a 1786 letter to James Madison, describing the effects of fiat paper money inflation then ravaging America in the pre Constitutional period.)
“The annihilation (of the paper money) was so complete that barber shops were papered in jest with the bills; and sailors, on returning from cruises, being paid off in bundles of this worthless money, had suits made of it, and with characteristic lightheartedness, turned their loss into frolic by parading through the streets in decayed finery which in its better days had passed for thousands of dollars.” (Contemporary writer, Breck, 1786)
“Paper money polluted the equity of our laws, turned them into engines of oppression, corrupted the justice of our public administration, destroyed the fortunes of thousands who had confidence in it, enervated the trade and husbandry, and the manufactures of our country, and went far to destroy the morality of our people.” (Peletiah Webster, 1786)
Tying the Federal Reserve’s hands with Gold is the best thing that could happen to traders like Soros and Buffet. They are just scaremongering so that they can enrich themselves at our expense.
You needn’t be a student of the dismal science to grasp that, historically, the classic characteristics of money have been:
Rarity
Divisibility
Portability
Intrinsic Value
None of those apply to the current fiat garbage forced on us via legal tender laws the Founders would quickly remove from the books.
When LBJ started the move to close the door to precious metals backed money, he told an aide that “Gold and silver are too VALUABLE to be used as money.” The guy was clearly a rocket scientist class intellect. Sheer brilliance.
You needn’t be a student of the dismal science to grasp that, historically, the classic characteristics of money have been:
Rarity
Divisibility
Portability
Intrinsic Value
None of those apply to the current fiat garbage forced on us via legal tender laws the Founders would quickly remove from the books.
When LBJ started the move to close the door to precious metals backed money, he told an aide that “Gold and silver are too VALUABLE to be used as money.” The guy was clearly a rocket scientist class intellect. Sheer brilliance.
Why no mention of FDR?
sfl
Edwin Vieira, Jr., has written extensively on this subject as it relates to the United States Constitution and the Founders’ views. A search and review of his books and articles should be part of any enlightened discussion of the relationship between a currency of intrinsic value (gold and silver) and liberty.
Our Dear Leader
http://en.wikipedia.org/wiki/Money_Trust
There is a video on Hal Lindsey website from DEC 18 on THE MONEY TRUST, and how some of our Presidents were assasinated because of it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.