Writes Bill Madden:

I recently sent an e-mail discussing how the Federal Reserve Bank loans our dollar into circulation at interest contrary to the dictates of the Constitution ordering Congress to coin money and regulate its value – without interest.  Aristotle’s Definition of Money requires that money be a “store of value” which gold and silver are and which paper is not.  If paper dollars and accounting entries are used for convenience, they must be backed up by the something of value for the monetary system to contain money vs. the fiat currency that our dollar has become.  Our domestic dollar was backed by silver coins until the end of 1964 and the international dollar was backed by gold until 8/15/1971. 

The referenced link is an 18 minute video explaining the preceding paragraph.  Other good videos explaining our convoluted monetary system are “Hidden Secrets of Money” under the “Learn” heading at: www.goldsilver.com.  Knowledge in this area is important because our dollar is collapsing in value as the currency in other nations is gradually being backed by gold.  This is bad news for the dollar which is currently a worldwide reserve currency but is slowly being replaced to the detriment of our dollar and our economy.  Until now, Americans have enjoyed prosperity due to the international demand for our dollars.  Things are changing.

The video talks about the large banks owning the Federal Reserve Bank.  Please remember that humans own the large banks and that it is the equity side of any corporation that decides whether the corporation will act for the benefit of all stockholders or just the benefit of the one or two families controlling the corporation.  Some super-rich families control more than one corporation.  So, corporations are not greedy but the humans controlling the corporation can satisfy their greed by their control of the corporation.  The management side of the corporation may or may not own a lot of stock but their job is to do what they are told to do by the equity side.

Many of our country’s problems would be solved by a return to the Constitution but, unfortunately, that is not what the financial benefactors of our politicians and bureaucrats want.