“Give me Liberty or Give me Death”
Patrick Henry – March 23, 1775
A. 50th Anniversary
This past quarter, a few of us remembered the 50th anniversary of President Richard Nixon removing the US dollar from the last vestiges of the gold standard. The actual date of infamy was August 16, 1971. With the US monetary system completely decoupled from a collateralized monetary standard, the size and scope of government has been able to expand dramatically. Without a dollar tethered to a gold standard, governments have embarked on years of endless deficits, massive increases in the national debt, reckless money printing and record low interest rates artificially depressed by complicit central bankers. As debts have grown, the State has expanded. The State has expanded their intervention into all aspects of the economy, resulting in the lowering of living standards and a massive reduction in human liberties and freedoms.
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