Frank Sinatra - “Santa Claus is Coming to Town”( This has been played 1907 times.)
But the greatest source of funding [for WWI] came, as it always does in wartime, not from direct taxes, but from the hidden tax called inflation. Between 1915 and 1920, the money supply doubled from $20.6 billion to $39.8 billion. Conversely, during World War I, the purchasing power of the currency fell by almost 50%. That means American unknowingly paid to the government approximately one-half of every dollar that existed. And that was in addition to their taxes. This massive infusion of money was the product of the Mandrake Mechanism and cost nothing to create. Yet the banks were able to collect interest on it all. The ancient partnership between the political and monetary scientists had performed its mission well.— G. Edward Griffin, The Creature from Jekyll Island: A Second Look at the Federal Reserve (259-260).
The money began to flow in January of 1915 when the House of [J.P.] Morgan signed a contract with the British Army Council and the Admiralty. The first purchase, curiously, was for horses, and the amount tendered was $12 million. But that was but the first drop of rain before the deluge. Total purchases would eventually climb to an astromical $3 billion. The firm became the largest consumer on earth, spending up to $10 million per day. Morgan offices at 23 Wall Street were mobbed by brokers and manufacturers seeking to cut a deal […] Each month, Morgan presided over purchases which were equal to the gross national product of the entire world just one generation before.— G. Edward Griffin, The Creature from Jekyll Island: A Second Look at the Federal Reserve (236).
When speaking of deficit spending, it is common to hear the complaint that we are saddling future generations with the bill for what we enjoy today. Why not let those in the future help pay for what will benefit them also? Don’t be deceived. That is a misconception encouraged by politicians to calm the public. When money is fiat, as the colonists discovered, every government building, public work, and cannon of war is paid out of current labor and current wealth. These things must be built today with today’s labor, and the man who performs that labor must be paid today. It is true that interest payments fall partly to future generations, but the initial cost is paid by those in the present. It is paid by loss of value in the monetary unit and loss of purchasing power for one’s wages.— G. Edward Griffin, The Creature from Jekyll Island: A Second Look at the Federal Reserve (162).
The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit…—
The law of supply and demand is not to be conned. As the supply of money (of claims) increases relative to the supply of tangible assets in the economy, prices must eventually rise. Thus the earnings saved by the productive members of the society lose value in terms of goods. When the economy’s books are finally balanced, one finds that this loss in value represents the goods purchased by the government for welfare or other purposes…
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold…. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the “hidden” confiscation of wealth. It stands as the protector of property rights.
Alan Greenspan in 1967, long before he abandoned the principles of sound money.
The more I read, the more I realize that the Federal Reserve and its destructive shenanigans are behind much of the economic and geopolitical strife of the last 100 years.
Leftism is that impulse that wants to establish coercion and call it community.— Douglas Wilson
Critical thinking and imaginative self-control are obviously essential things to give to young readers. We should want to raise children with the ability to resist an author and a narrative, to laugh, criticize, and dismiss folly, no matter how hard a storyteller might be working to feed them falsehood. But the first step is to establish their tastes in truth with stories that will root their instincts and loyalties in goodness and beauty. Feed them narratives that love the lovely and honor the honorable. Let them wander Narnia and Middle-earth and be edified and strengthened and inspired. Give them a strong foundation and stubborn taste. When it comes to story, there’s nothing wrong with being a picky eater.— N.D. Wilson | Catechisms for the Imagination
Amazon drone deliveries
As an Amazon customer, this was not the drone I was looking for.