The monetary system in the US is controlled by a central bank (the "Fed") whose directors have complete discretion to manipulate and control our fiat currency. We never chose or voted on this monetary system, but it effects all of us every day. The system is easily manipulated by government and extremely destructive to the wealth of citizens. In fact, today's dollar is worth a little less than a nickel was worth in 1913 when the Fed was established. See our last post for a report card on how the Federal Reserve has done since its inception.

The Fed was established through a bargain between bankers and government. Bankers received the promise of bailouts and government got to spend money it didn't have. As a result, they both won at the expense of all citizens, whose dollars lose value every time the Fed prints more money. The latest euphemism for this, quantitative easing, makes it sound like something that is acceptable rather than the outright theft that it is. Each time a new dollar is printed out of thin air, all the dollars out there are worth less.

We believe the United States needs an honest monetary system and are proposing an Amendment to end monetization of debt. Our hope is that this will force a discussion of the subject and that eventually America will end up with a much more satisfactory system that does not cheat the people.