Fiscal Policy and the Federal Reserve

By Douglas V. Gibbs

While the politicians in Washington, D.C., claim we have a revenue problem and they must increase our taxes to fix the problem, the truth is we have a spending problem that they are unwilling to address. Unconstitutional spending by the federal government runs rampant, and the professional politicians of both parties are battling for control over that money, and the control of our liberty that accompanies that spending. Both sides of the political coin defends big government, seeking more power, and spending more and more of We the People's money to achieve that power.

The members of Congress claim they wish to balance the budget, but no budget is ever presented, and when it is it never gains the traction it should.  Automatic increases riddle the system (ensured by baseline budgeting), and spending cuts are accused of causing government shutdowns, and a disruption in services that the federal government never had the constitutional authority to be a part of in the first place.

Meanwhile, through the Federal Reserve, international bankers issue America's currency, controlling our economy through the mere press of a button, deflating the dollar at will, as more and more fiat money is pumped into the American economic system, moving us closer and closer to collapse with each passing fiscal quarter.

Thomas Jefferson would be terribly disappointed in what we are allowing.  In fact, he specifically spoke out against it, saying, "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." -- Thomas Jefferson in the debate over the Re-charter of the Bank Bill that had been originally initiated by statist Secretary of the Treasury under George Washington, Alexander Hamilton (1809)

Jefferson was a champion of a concept called Laissez Faire, or the proper limitation of the scope and powers of government.  It was he that, though he was absent during the convention in 1787 due to diplomatic duties in France, was among the greatest influences upon the construction of our system of limited government.  It was Jefferson that penned the Declaration of Independence.  And it was Jefferson's ideals that the Democratic-Republican Party was founded upon, a political party that adhered to the Constitution in such a way that the popularity of the party eventually led to the demise of the Federalist Party, a big government party that more resembled the ideology of nationalism, and a party that would likely have more in common with the Democrats of today, than anyone that adheres to the foundational principles of the United States Constitution.

Jefferson also said, “I believe that banking institutions are more dangerous to our liberties than standing armies.”

And Jefferson reminded us, "… The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating."

James Madison also recognized the dangers of allowing abuse to intrude upon a nation's economy.  "History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance. "

Andrew Jackson in 1832 ran on ending the existence of the Bank of the United States (a forerunner to the Federal Reserve) and abolishing the national debt (of which he succeeded to accomplish in 1836, and as a nation we were debt-free for two years).  "If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations."

Now, the Federal Reserve, a system of international bankers issuing our currency, is under fire by folks like Senator Rand Paul, and the statists are lashing out at the Senator for daring to question the Federal Reserve, and for daring to call for the organization of international bankers to be audited.

Many fear that the Obama Presidency is committing a bloodless coup against the foundational principles of the United States.  The reality is, that coup began over a hundred years ago, when the Federal Reserve was created, and signed by progressive President Woodrow Wilson.

-- Political Pistachio Conservative News and Commentary