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Tag: National debt

Starring Ron Paul & Ed Griffin: “Fiat Empire—Why the Federal Reserve Violates the U.S. Constitution”

 

[googlevideo=http://video.google.com/videoplay?docid=5232639329002339531&q=FIAT+EMPIRE&hl=en]

 

Ron Paul really stars at 40:20 minutes into the film. Ron Paul-only excerpts, below.

“Why do rich people seem to be getting richer, while you and all your friends seem to be hardly making ends meet?

Why does a first class stamp cost you nearly 40 cents when it used to cost only 5 cents?

Should a 90% loss of purchasing power be tollerated?

Where does it end?”

– Narrator

______________________

Inflation, I think, is a bad word, because really, we think of inflation as rising prices. But in reality, what’s happening: prices are not going up, it’s that the value of the dollar or the monetary unit is going down. …

The Federal Reserve System is the agency of a hidden tax, called inflation.”

 

Where this graph is headed is for total destruction of our monetary system. Our money will be totally worthless, and it’ll probably be reissued in the form of some international currency, which will be equally worthless. But the value to these people is that once it’s on an international basis, there’s nowhere else to go.

Right now, if you don’t like American dollars you can buy Japanese Yen. … If you don’t like that, you can move to whatever currency seems to be having a little better track record.

Once there’s an international monetary system in place, modeled completely and exactly after the Federal Reserve system—It’s exactly the same—then there’s no place else to go, folks. You’ve had it.

If we don’t turn this thing around, I think we’re going to be living in kind of a modern serfdom.”

– G. Edward Griffin

[transcribed by Jeff Fenske from the movie]

National Debt In The U.S. Growing By $1 Million A Minute

Washington, D.C. (AHN) – The national debt is growing by more than $1 million a minute, according to the National Debt Clock, which bases it’s figures on U.S. Department of the Treasury data. …

The national deficit stood at $5.7 trillion when President Bush took office in January 2001, and, at current rates, it could reach $10 trillion before his current term expires in January 2009.

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