Stefan Molyneux and G. Edward Griffin discuss the basics of the central banking scheme, the secrecy which went into the creation of the Federal Reserve System in the United States, why central banking is important, the true nature of the income tax, the government control of currency interest rates, the erosion of market signals by government policies, the possibility of a cashless society, the similarity between the Republican/Democrat establishment and the dangers of collectivism.
Tim Price, editor of the London Investment Alert, writes:
Those, like myself, who see merit in gold are often disparaged as “gold bugs”. I think the boot is actually on the other foot. There is no evidence throughout the historical record of any unbacked paper currency having ever lasted. The real swivel-eyed obsessives here are those people who put great store by paper, by fiat currency, that has no fundamental value whatever beyond the confidence that it may or may not inspire.
Don’t beware of gold bugs. Beware of paper bugs.
Tim's advice is sound. Ignore it at your peril.