Re: Ron Paul and the Fed Reserve
“to coin money” and ” regulate the value thereof”
Gold coins are “debt free” money. When the FR was created, its notes had 40% gold backing and gold coins circulated along with them. FDR signed Executive Order 6102 in 1933, confiscating Americans private gold holdings to be surrendered to the Federal Reserve. Then by the next year the Gold Reserve Act titled all gold held by the Federal Reserve to the US Treasury.
Now why would a US President, and Congress pass such laws, is it to “regulate the value thereof”? Hardly. US Treasury bonds were payable in dollars which were in turn redeemable in gold. This tie to gold prevented FDR, Congress, the Federal Reserve and the bankers from issuing as much debt and notes without the threat of the American people showing up at their doorsteps to exchange their funny money for the real thing. Ask yourself —-who benefit from passing such laws? Certainly not the American people.
The freedom to choose what money to transact in allows the American people to escape tyrants. If Ron Paul represents is but one step on a thousand mile journey, Amen brother