patrick.net

Yes, she's crazy, but my kind of crazy.

I do not think we really want to end the federal government, but just streamline it down to its Constitutional duties.

https://x.com/RonPaul/status/1854948637052186957

Patrick says

https://wtfhappenedin1971.com/

Thanks, lots of good graphs there:

https://rudy.substack.com/p/fiscal-red-bull

Finally, an op-ed with the revelation that “average inflation targeting” is a concept so stupid it could only have come from PhD economists:

“Because inflation targeting has boosted returns to capital over labour, it may have also contributed to increasing income inequality. This disparity has probably played a role in the rise in populism in many countries.”

Former St. Louis Fed President and current idiot Jim Bullard explains...

To be fair, there were one or two cranks who objected back in 2020:

Patrick says

All of the bloodline families own or are assigned various bank branches. It's a nom de plume.

https://rudy.substack.com/p/all-roads-lead-to-inflation

I read both "The Creature from Jekyll Island" and an academic book on the creation of the Federal Reserve.

The Federal Reserve was created in 1913 as a way to protect the largest banks from periodic debt crises which could bankrupt them. It was not created in the public interest. So banks get to win when they win, and to push the cost of losses onto the public as inflation when they lose, via the creation of new money lent to those big banks.

The federal government also found it beneficial to denominate government debt in units which could be created at will, so that the government itself need never default, but could quietly defraud bondholders via inflation. I suppose it does benefit ordinary US citizens to a degree because all other countries are essentially obligated to accept our currency to buy oil, because of the deal with have with the Saudis to militarily protect them no matter what they do, as long as they require payment for oil in dollars. This gives us buying power abroad. Saddam tried to switch from dollars to Euros in 2000 and ended up swinging from a rope.

All of this overtly violates the Constitution's requirement that the states make nothing but gold and silver metal valid payment of debts:

Article I Legislative Branch
Section 10 Powers Denied States
Clause 1 Proscribed Powers
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

I could go on, but the Fed is in essence the largest criminal racket on earth. It is very difficult to defeat an entity which can create infinite money to defend its own interests. Congress has less power than the Fed.

My proposed solution is to make pure silver by weight (ounces not dollars) our sole currency because it is practical for most everyday transactions, and to mark all paper promises of silver with a mandatory "ONLY A DEBT, MAY DEFAULT AT ANY TIME AND BECOME WORTHLESS." But this would require a large majority to demand those changes.

Patrick says

All of this overtly violates the Constitution's requirement that the states make nothing but gold and silver metal valid payment of debts:

Nope. That restriction is on the States, not the federal government.