Unforeseen Consequences

August 15, 1971 marked the ominous day when economic fascism formally came to the United States. It was for these draconian actions that the bastard Richard Nixon should have been impeached, not the trumped up charges relating to Watergate.

Economist Murray N. Rothbard lays out the prophetic devastating consequences of Nixon’s fascistic policies implemented on that day in breaking the last ties to the gold standard sustaining the American dollar, initiating decades of a destructive fiat paper currency without any backing except the duplicitous promises of politicians regarding the full faith and credit of the US welfare-warfare State. Wage and price controls were also implemented breaking all semblance with a free market pricing system in favor of centralized collectivist management of the economy.

But on that day there were two little known unforeseen consequences that later had significant impact.

A young Texas OB/GYN physician watched in horror Nixon’s speech on television. This prompted his entrance into politics, becoming the most outstanding congressional figure in American history in defense of individual liberty, the Constitution’s rights and safeguards of the people, a non-interventionist foreign policy of prudential diplomacy and the avoidance of divisive conflicts of unconstitutional wars of aggression. His name is Ron Paul.

In another locale in the US, a group of young Colorado citizens also viewed Nixon’s speech. Their determined reaction, spearheaded by one of them, David F. Nolan, led to the formation of the Libertarian Party, which later under the impetus of Murray Rothbard, Ron Paul, and millions of dedicated supporters and acolytes created a vast nation-wide movement for the restoration of freedom, justice, human rights and dignity for the individual, which continues to this day.

This website is also a product of the fall-out and wake of that dark day, and the reaction Nixon let loose upon the world.


10:58 am on October 18, 2018