Monetary Manipulation
January 3, 2026
Writes Bill Madenn:
I avoid providing financial advice but I do forward the thoughts of others as a way of providing a financial education. The referenced video is food for thought and what is historically important is that, whenever a government begins to “adjust” an existing monetary system, the adjustment will most likely enrich the super-rich and their minions and disadvantage the masses. Our current dollar is fiat and it shouldn’t be. To make matters even worse, the plan is to use crypto currencies to reduce our almost forty trillion dollars in debt and remove currency (cash) from the system in order to track every nickel that we receive or spend.
I’m not an expert on monetary systems but I know that you cannot back up fiat currency with fiat currency and that, according to J.P Morgan: “Gold is money. Everything else is credit.” I’m not advising against investing in crypto currency as many dollars will be made and lost in crypto currency. I’m advising against thinking that crypto currency is money as defined by Aristotle.
Our rulers are enriched because fiat currency allows for an abundance of dollars sloshing around in the economy which they, by virtue of their gigantic equity in Corporate America, enjoy as profit sharing every quarter. You may be sure, however, that their profits are quickly invested in inflation hedges like precious metal, real estate, collectibles, etc. We, on the other hand, struggle to pay our increasing living expenses.
The Best of Llewellyn H. Rockwell, Jr.
Llewellyn H. Rockwell, Jr., former editorial assistant to Ludwig von Mises and congressional chief of staff to Ron Paul, is founder and chairman of the Mises Institute, executor for the estate of Murray N. Rothbard, and editor of LewRockwell.com. He is the author of Against the State and Against the Left. Follow him on Facebook and Twitter.
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