More "Occupy" Calls for The Gold Standard

The Occupy Movement, as noted here and at Forbes.com, rather prominently features a call for restoring the gold standard as, among other things, one of the ways to reduce arbitrary (as opposed to earned) disparities in wealth.  Even a casual google search for "occupy wall street" "gold standard" provides 899,000 page returns.

Main Street's demand for a restoration of the gold standard is strong, growing, and on the barricades.

fist

New calls for the gold standard have been noted by the mainstream media at the occupation in Kalamazoo, Michigan, where the Kalamazoo Gazette reported a protester as saying: "'Most of my friends aren't even aware that we have left the gold standard in banking,' Wahmhoff said. 'As a country we are completely under-educated as to how our financial system works.'"

So too in Calgary, Canada, as the Occupation goes global.  As reported by the Calgary Herald, "Hundreds of people drummed, chanted and protested issues ranging from income disparity, capitalism and corporate politics to homelessness and fiat currency during 'Occupy Calgary. ...

“There’s a high disparity between the rich and the poor in Calgary,” said SAIT journalism student Sarah Pynoo, 19. “We’re one of the richest cities in North America, but we have enormous homelessness problems.

“And there are thousands of people living below the poverty line and that’s worrying.”

The protest was rich with signs, flags and even a few raging grannies. One cardboard sign, painted in a dark silhouette of a mouse, featured a red mouth with the sign “corporate politics eats people.”

Some protesters tried to draw awareness to investment fraud issues in Alberta. Others on 9/11 truth, a return to the gold standard, and mainstream media bias.

At around 3 p.m., the protesters marched eastward on 8th Ave. toward Olympic Plaza. They said they planned to camp in the square, instead of the designated free zone that had been established on the west end of St. Patrick’s Island. As they entered, the plaza was still wet with fake blood splattered during a Zombie Walk which took place earlier in the day.

Even decidedly Progressive bloggers such as Dr. Ilya Sandra Perlingieri from GlobalResearch.ca also take up the call for the gold standard, an ideological neutral cause:

“To coin money, regulate the Value thereof…” This was destroyed when the Federal Reserve (not answerable to anyone!) took over, by theft, the financial workings of the entire US. This goes back to Andrew Jackson, Woodrow Wilson and John F. Kennedy (all of whom tried to get rid of the banksters). The final nail in the financial coffin was in 1971 when the US went off the Gold Standard. Gold and silver prices are deliberately rigged from behind the scenes. The “almighty buck” is mere green toilet paper (fiat money)…and this too is rigged. Today, the US “dollar” is worth less than 5 cents.

John Maynard Keynes anticipated this, almost prophetically, in The Economic Consequences of the Peace almost a century ago by pinpointing how debasing a currency -- think "Quantitative Easing" --  destroys confidence in the equity of the existing distribution of wealth."

Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. … By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become ‘profiteers,’ who are the object of the hatred …. [Emphasis added.]


 

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by Ron Paul

Today’s economic conditions reflect a fiat monetary system held together by many tricks and luck over the past 40 years. The world has been awash in paper money since removal of the last vestige of the gold standard by Richard Nixon when he buried the Bretton Woods agreement — the gold exchange standard — on August 15, 1971.

Since then we’ve been on a worldwide paper dollar standard. Quite possibly we are seeing the beginning of the end of that system. If so, tough times are ahead for the United States and the world economy.

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The new Federal Reserve chairman, Janet Yellen, gave a policy speech today at Chicago, where, in a startling gesture, she mentioned three working individuals by name — Jermaine Brownlee, Vicki Lira, and Doreen Poole. They lost their jobs the Great Recession and have been struggling ever since. It was a refreshing, even affecting demarche by Mrs. Yellen, who has made a return to full employment a public priority. She underscored her sincerity by telephoning Mr. Brownlee and Ms. Lira and Ms. Poole before delivering her speech.

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The Rueffian SynthesisJohn D. Mueller

Publisher's Note: Originally released in June/July of 1991, this detailed report discusses Jacques Rueff's economic theories and applies them to modern economic events.

By John D. Mueller

Who Was Jacques Rueff?

... Trained in science and mathematics at the Ecole Polytechnique, Rueff devoted his first theoretical work to showing that the same scientific method applies to “moral” or “social” sciences like economics as to the physical sciences (Des Sciences Physiques aux Sciences Morales, 1922). In both cases, he pointed out, individual acts can be “indeterminate,” but the pattern of large numbers of individual acts can be predicted as a matter of probability. And so in economics no less than physics, as he later wrote, “A scientific theory is considered correct only if it makes forecasting possible.”

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Excerpts From:


by Lewis E. Lehrman

"Forerunners of man lived upon the planet several million years ago. But the unique, modern, social order of man – civilization – emerged only four to five thousand years ago. Historical and archaeological evidence suggests that the institution of money evolved coterminously with civilization. From the standpoint of the 100,000-year history of Homo sapiens, civilization and money are but young and fragile reeds. Today their very existence is threatened by financial disorder."

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Hostility toward gold has a long pedigree.  19th century depiction of Pliny the Elder courtesy of the Library of Congress Gaius Plinius Secundus, commonly known as Pliny the Elder, in his The Natural History, Book 33, section 3, writes: Would that gold could have been banished for ever from the earth, accursed by...

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The New York Times’ Jonathan Gilbert reported: “Argentines endured price rises of nearly 30 percent last year, according to an unofficial index published by opposition politicians; the government, which has been accused of manipulating economic data in the past, claims inflation reached only 10.9 percent in 2013. In 2014, inflation...
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Prosperity Through Gold
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