An Exclusive Interview with the Hon. Steve Lonegan, Part 1

Steve Lonegan, former mayor of Bogota, New Jersey, and nominee for US Senate, is the Director of Monetary Policy for American Principles in Action, the leading advocacy group for the classical gold standard in Washington, DC.  Steve formerly was a top State Director for Americans for Prosperity.

Hon. Steve Lonegan

On September 3, 2014, he launched FixTheDollar.com -- also at Facebook -- at a debut event near Wall Street and hard by the grave of Alexander Hamilton (and his beloved wife, Eliza), featuring gold standard proponent Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, previously interviewed here.  Thegoldstandardnow.org is pleased to present this exclusive interview, in three parts.

Q1:  Steve, what is your purpose in creating FixTheDollar.com?

A: We have launched Fix the Dollar to alert Americans to the debasing of our currency and the threat this presents to the future of our prosperity and to our individual liberties. As Soviet leader Lenin put it, the currency can be debased and not one man in a million will understand. That’s the English translation of the Russian, of course. However, I do not believe this arrogant attitude should prevail and that Americans are more perceptive than Communists like Lenin thought, as we have proven over and over again.

Central planners at the Federal Reserve System harbor a similar attitude about the perceptive powers of average Americans. I intend to prove them wrong.

Q2:  The record shows that you raised the policy issue of monetary integrity in the special Senate election against US Senator Cory Booker.  When did you first become interest in the policy issue of monetary integrity? 

A: During my tenure as State Director for Americans for Prosperity I spent a lot of time on economic issues and in fighting for free market policies. Over time and with a lot of study I realized intuitively that the Federal Reserve Bank has been controlling, or at least trying,  the entire economy through advanced central planning.

In other words, by manipulating the money with which we trade and by which we value our savings and our wages.

After TARP, it became clear to me that there is no free market as long as someone else can manipulate our currency, diminish the value of an individuals life savings, alter our quality of life by corrupting prices and even “Pick winners and Losers”, a line far too many pundits like to use.

I was awakened to the harsh reality that so many well-meaning Think Tanks that promote “free markets” will accept the ultimate central planning and that is the monetary policies of the Federal Reserve System.

Q3:  Who were some of the thought leaders on the gold standard who have influenced your thinking? 

A:  My earliest influence came from the basic teachings of Ludwig von Mises Frederic Bastiat, and Friederich Hayek.  Modern writers, particularly George Gilder and the late Milton Friedman have been influential, although Friedman was off on monetary policy

This was translated into my knowledge of monetary policy by the writings of Lewis Lehrman, Steve Forbes and the commentaries of Sean Fieler, George Gilder and more.


Q4:  Which works, in particular, have influenced you?

A: I would say a combination of works. I have studied Aristotle, John Locke, Von Mises and other economists. I have found historic reference in literary works including Tale of Two Cities. The two works that have best crystalized my understanding of the gold standard are Lewis Lehrman’s book Money, Gold, and History and Steve Forbes and Elizabeth Ames's Money: How the Destruction of the dollar Threatens the Global Economy and What We Can Do About It.

Q5:  Why are you focusing in on creating a grass roots civic league?

A: First, I kind of like the title "Grassroots Civic League”. It sounds like a 1960’s quaint organization. A reminder when America was experiencing equitable prosperity under a gold standard. American’s are hungry to return to that kind of economic growth. When everyone grows and prospers--the American Dream. It will take a grassroots movement to force politicians to put this country back on track to equitable prosperity.

Q6:  Why are you giving prominence to monetary integrity over other issues?

A: Much of what is going wrong in the country today can be traced back to the easy money, currency debasing monetary policy of the Federal Reserve. A mind boggling national debt, the rabid growth of liberal welfare spending, the growing income gap. All of these and more. Whether it’s a liberal politician looking to fund another welfare program or a neocon who wants more military spending, they can rely on the Fed to print the money. 

The most important issue facing this nation is monetary policy.

Q7:  Tell us more about your relationship with American Principles in Action?  What is your relationship with its chairman, Sean Feeler?

A: APP, and its sister organization APIA, recognizes the fact that social issues are critical to our society and cannot be ignored. APP and APIA are the nation’s leader in joining social conservatives with fiscal conservatives. Many in the conservative movement talk about the “Secular Left” and then capitulate to what I call the “Secular Right.” In order for conservatives and even libertarians to elect leaders we need to get everyone on the team. Economic “conservatives” will never prevail if they shun social conservatives. APP understands this.

Sean Fieler and I have worked together on a number of issues facing the nation. Sean provides the visionary leadership that keeps APP focused and is unafraid to stand up for our conservative principles. 


 

 

Kathleen M. Packard, Publisher
Ralph J. Benko, Editor

In Memoriam
Professor Jacques Rueff
(1896-1978)

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