Thursday, February 4, 2010

Quote - Jay Leno

"Here is a historical fact. It was on this day in 1690, the first paper money was printed up in the colony of Massachusetts. The pilgrims realized that when they ran out of money, they could just print more. Thus, the federal government was born."

Jay Leno, February 3rd, 2010.

Of course, he forgot to mention the reason Massachusetts decided to print their own currency. Was it for "liquidity"? No. Was it to allow the money supply increase as the economy grew? No...somehow before central banking, economies grew without paper money.

It was for war. It was the first time in western civilization a government dropped a commodity standard and moved to paper currency and it was done to fund war. Just like it was done during the war of 1812, the Civil War, World War I, and then for good during the 1930s, after which the West has been in a perpetual war with the brown people of the world (Japan, North Korea, Vietnam, Iran, activities in Central and South America, Cuba, Iraq, Pakistan, Afghanistan), all financed by paper money. After the 1930s, the US dollar was still linked to gold for the purpose of major transactions between central banks, but even this link was destroyed in 1971 by President Nixon. Why? War. The United States was unable to pay its debts for Vietnam in gold, flipped the bird to the world (specifically the French) and has continued on till now printing dollars as if they're gold.

Massachusetts used the paper money to pay off militias to come up to the Maritimes and rob us.

If you're pro-paper currency, you're pro-war. The easiest way to abolish needless war is to abolish the printing press and fiat currency.

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