Sunday, October 24, 2010

Whats a US Dollar Worth? : The Fed, Money as Debt

Many ask: What is "Injecting Liquidity"? Do Deficits matter? Where is the US Dollar going with this war spending and Debt?

See more: Paul Grignon's 47-minute animated presentation of "Money as Debt"

"Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers."
- Congressman Ron Paul

""The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit... In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value... Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
---Alan Greenspan