Insightful article:
Ron Paul "sound money" fears halt air traffic
Written by Earnest A. Peal
Story written: 23 November 2007
500 Federal Reserve Accounting Unit Denominations (FRAUDs) represent--nothing actually.
WASHINGTON D.C.--In a dramatic case of miscommunication, the Department of Homeland Fear halted all flights to Washington D.C. on Thanksgiving morning after an order was circulated to the secret police services warning of the "extreme danger of capital flight", as American citizens realize their money has no actual value.
The alert originated from the office of Ben Bernanky, Chief of Printing at the US Federal Banking Cartel and was sent to the Secretive Services, formerly an arm of the Treasury, but now lumped into the monster bureaucracy, the Department of Homeland Fear. Mr. Bernanky was concerned that Americans would abandon the dollar and buy gold stored abroad, after the government's seizure of the alternative currency, the Liberty Dollar, which is coined of, or backed by, real precious metals.
His memo, warning of an "extreme danger of capital flight," was picked up by a quick-acting section head who promptly cancelled all inbound flights to Ronald Reagan Washington National Airport and Dulles International Airport.
Approximately 45,000 holiday travellers were delayed as a result of the temporary airport closure. When the department found out it had goofed it announced, "We are glad to learn that this is just about some claim that the government absconded with 280 million ounces of gold in 1971 and has been effectively insolvent ever since. We're pleased that Americans can go back to business as usual and enjoy their holiday giving thanks for the blessings of this great nation."
In addition to the concerns over competition from "real money", reaction to a viral video on YouTube of Ron Paul, head of the House Banking Oversight Committee, lambasting Bernanky over the Cartel's devaluation of the dollar to just 7 cents from the currency it began with, was a factor leading to Bernanky's warning. Rep. Paul has frequently argued for a return to the gold standard through allowing alternative currencies.
Bernanky said after the incident, "The Fed is exercising those powers granted it by the Congress. Our primary goal is to ensure the stability of investor profits, and deflation is the biggest threat to investor profits. The government in a fiat money system owns the physical means of creating money and this implies that the government can always avoid deflation by simply issuing more money. Why then, not just use a 'helicopter drop' of money into the economy to fight deflation?"
Asked about the cost of inflation to ordinary wage earners and those on fixed incomes, he replied, "It goes without saying that this will involve a certain amount of loss to individual holders of the currency. However, I would like to remind anyone considering investing in gold that the Secretive Services can and will confiscate it-whether or not the holder has broken any laws."
It is not the first time that the recently installed head of the Cartel has inadvertently caused an over-reaction. Soon after he was selected by the banking community to lead the agency, he sent markets reeling with the offhand comment, "If the Chinese don't buy more bonds, we'll just have to devalue the **** out of the greenback."
Ron Paul "sound money" fears halt air traffic
Written by Earnest A. Peal
Story written: 23 November 2007
500 Federal Reserve Accounting Unit Denominations (FRAUDs) represent--nothing actually.
WASHINGTON D.C.--In a dramatic case of miscommunication, the Department of Homeland Fear halted all flights to Washington D.C. on Thanksgiving morning after an order was circulated to the secret police services warning of the "extreme danger of capital flight", as American citizens realize their money has no actual value.
The alert originated from the office of Ben Bernanky, Chief of Printing at the US Federal Banking Cartel and was sent to the Secretive Services, formerly an arm of the Treasury, but now lumped into the monster bureaucracy, the Department of Homeland Fear. Mr. Bernanky was concerned that Americans would abandon the dollar and buy gold stored abroad, after the government's seizure of the alternative currency, the Liberty Dollar, which is coined of, or backed by, real precious metals.
His memo, warning of an "extreme danger of capital flight," was picked up by a quick-acting section head who promptly cancelled all inbound flights to Ronald Reagan Washington National Airport and Dulles International Airport.
Approximately 45,000 holiday travellers were delayed as a result of the temporary airport closure. When the department found out it had goofed it announced, "We are glad to learn that this is just about some claim that the government absconded with 280 million ounces of gold in 1971 and has been effectively insolvent ever since. We're pleased that Americans can go back to business as usual and enjoy their holiday giving thanks for the blessings of this great nation."
In addition to the concerns over competition from "real money", reaction to a viral video on YouTube of Ron Paul, head of the House Banking Oversight Committee, lambasting Bernanky over the Cartel's devaluation of the dollar to just 7 cents from the currency it began with, was a factor leading to Bernanky's warning. Rep. Paul has frequently argued for a return to the gold standard through allowing alternative currencies.
Bernanky said after the incident, "The Fed is exercising those powers granted it by the Congress. Our primary goal is to ensure the stability of investor profits, and deflation is the biggest threat to investor profits. The government in a fiat money system owns the physical means of creating money and this implies that the government can always avoid deflation by simply issuing more money. Why then, not just use a 'helicopter drop' of money into the economy to fight deflation?"
Asked about the cost of inflation to ordinary wage earners and those on fixed incomes, he replied, "It goes without saying that this will involve a certain amount of loss to individual holders of the currency. However, I would like to remind anyone considering investing in gold that the Secretive Services can and will confiscate it-whether or not the holder has broken any laws."
It is not the first time that the recently installed head of the Cartel has inadvertently caused an over-reaction. Soon after he was selected by the banking community to lead the agency, he sent markets reeling with the offhand comment, "If the Chinese don't buy more bonds, we'll just have to devalue the **** out of the greenback."