The following academic paper highlights the up-to-date issues and questions of Executive Order 11110 Ron Paul. This sample provides just some ideas on how this topic can be analyzed and discussed.
The Federal Reserve System: Modern Fascism and Absolute Power Most Americans feel the United States of America is a beacon of democracy and raw capitalism, the leader of the “free” world. In theory, this is a perfectly well-reasoned assumption. The founding fathers had every intention of turning the new world into a full fledged democracy, devoid of any monarchy or source of totalitarian power.
The constitution itself demands that our government be “of, for and by the people”, and be divided into complex units of checks and balances, designed to thwart any potential power struggle by one specific branch.
In essence, the constitution of the United States is a perfect blueprint for democracy in its purest form, with power and control in the hands of its citizens. Unfortunately, this is not the case today.
By giving up the right to print its own currency in 1913, the US Government bequeathed its powers to a select few, who have owned and operated this country ever since. They are the true masters of US domestic and foreign policy.
Just like a corporation issues shares of stock to function as a productive entity, a country has to issue currency in order to fund its operations. This currency is the lifeblood of a nation, creating wealth for its citizens by fostering economic development and providing public infrastructure and services.
In a true democracy, the government is owned by the citizens and operated by representatives of the population as a whole, who control and more importantly regulate the issuance of this currency. This is a critical point to remember.
Just like a public company [that issues too much stock] can be punished by the public markets for diluting its share structure, a nation’s currency can suffer the same effects through inflation if the government prints too much money relative to the value of the economy. This can be considered a hidden tax and represents a loss of buying power for a nation’s citizens. This loss of buying power [if left unchecked] destroys private wealth and can completely wipe out a country’s middle class, creating only two groups of citizens: the poor and the ultra-wealthy.
Without a functioning and thriving middle class, a country is nothing more than a failed state. Because of this, the act of creating and regulating currency must be kept in the hands of those it serves (ie. the people). Any type of transference of this “absolute power” into private hands gives that person or entity complete control over a nation’s people and government. Why? Through the power of devaluation. Devaluation is basically “instant inflation” or “hyperinflation”. Overnight, devaluation can lower the value of a nation’s currency which in turn lowers the buying power for its citizens relative to other currencies.
An example of this can be recalled from the 1997 Asian Financial Crisis, which started when the Thai Baht was devalued and Thailand’s stock market lost 75% of its value. Within a matter of days, the people of Thailand saw their savings destroyed. In essence, devaluation is the ultimate weapon since it can destroy an entire nation, but leave its wealth (ie. infrastructure) intact. One can quickly see why this power must never be transferred to private hands, yet this is exactly what happened to the United States in 1913.
When the Federal Reserve Act was passed on December 23rd, 1913 , the power to print US currency was transferred from the public government into the hands of a private Delaware corporation , known as the Federal Reserve System. From this point forward, the United States Government was no longer issuing its own currency and instead, had to borrow money from a “private bank” and pay interest on the loan. For 94 years, the United States has been at the mercy of a single entity who with the stroke of a pen, could transfer an entire nation’s wealth and wipe out the entire middle class.
Americans may vote for a political “choice” every four years, but the results for any given election are meaningless since the President of the United States has no more control over the Federal Reserve System than the average citizen. In essence, the President is a servant of the Federal Reserve System, not the people. Not a single President has ever challenged the constitutional basis for the Federal Reserve System, except for one. John F. Kennedy, being the incredible patriot and visionary that he was, knew the US Government had the constitutional right to print and issue its own currency.
He saw the Federal Reserve System as a dangerously corrupt entity and set in motion a plan to usurp control of our nation’s money supply from this private bank, back into the hands of the American people. He issued Executive Order 11110 on June 4th, 1963 , which delegated the US Treasury to issue silver certificates against silver bullion. This alternative currency circumvented the Federal Reserve System since the US Government could once again carry out the printing of paper money, backed by silver held by the US Treasury.
These new notes were legal tender and were in direct competition to notes issued by the Federal Reserve System. Unfortunately, President Kennedy was assassinated a few months later and the order was abandoned, thereby giving the Federal Reserve System a monopoly [once again] on the issuance of US currency where it has remained ever since. Benito Mussolini once said, “Fascism should more properly be called corporatism because it is the merger of state and corporate power. ” The Federal Reserve System fits this description perfectly and represents the ultimate merger of state and corporate power.
The idea that Fascism is simply a totalitarian practice based on racism is a misnomer. There is a more important component to Fascism, an economic component known as “Corporatism”, which was an essential ingredient of economic totalitarianism as practiced by Mussolini and Hitler . Essentially, the racist component of traditional Fascism is irrelevant and not necessary in order for it to succeed. It is merely a propaganda tool used to create a “rally round the flag” diversion based on xenophobic principles (as illustrated by the Nazi Party), while corporate control is exerted over the government behind the scenes.
In the United States these policies were not called “fascism” but “planned capitalism” , with the Federal Reserve System at the center dictating economic policies, and exerting indirect control over domestic and foreign policies through elected officials thanks to its monopoly on currency issuance. The parallels between the Federal Reserve System and the power of currency issuance, vis-a-vis Sauron and the Ring of Power are marked examples of evil and its constant pursuit of absolute power. Domestic and interstate conflict has always been an important tool for the Federal Reserve System due to its ability to drive up our nation’s debt.
One doesn’t need to look any further than our current “War on Terror” and its half-trillion dollar price tag to understand this fact. History has shown that evil prevails when good men fail to act. This is evident in America today since the Federal Reserve System is rooted in corruption and has no constitutional basis, but yet has managed to survive for almost 100 years in its current form. John F. Kennedy made a noble effort but unfortunately did not live to see his Executive Order implemented.
Others have tried as well, such as Ron Paul, a House Representative from the 14th District of Texas, who has tried repeatedly to introduce legislation to abolish the Board of Governors of the Federal Reserve System and the Federal Reserve Banks, and to repeal the Federal Reserve Act altogether, while liquidating the assets of the Federal Reserve System and returning them to the US Treasury . Unfortunately, he has not been successful in his attempts, however, he is now running as a presidential candidate for 2008 . Perhaps his message will be heard by a louder audience this time.
In conclusion, Fascism has undergone many incarnations and has been called many different things, by many different dictators. But at its core it is nothing more than what Mussolini said: the merger of state and corporate power. America today is at the mercy of a privately owned central bank that has absolute power over its citizens and elected officials. Much like the Fellowship of the Ring was engaged in a fierce battle over Middle Earth and the Ring of Power, we as citizens of the United States are locked in a battle over our country’s freedom from Fascist enterprise and its right to currency issuance.
Just as Sauron desired to control the Ring of Power so he could dominate the people of Middle Earth, those who control the Federal Reserve System wish to control this country through the power of its currency and subsequent debt. They continue to exert control over our elected officials and have dictated virtually every major domestic and foreign policy since the beginning of the 20th century.
The Fellowship was represented by a heterogeneous mixture of men, hobbits, elves, wizards, and others forces of good who swore to defend Middle Earth from Sauron, the Orcs, the Uruk-hai and other forces of evil. In the case of this country’s struggle against the domination of the Federal Reserve System, the modern day “Fellowship” is represented by grassroots movements consisting of current and ex-members of Congress, academics, entrepreneurs and average citizens, who recognize the importance of abolishing this power held by those who control the Federal Reserve System.
Our nation’s survival well into the 21st century and beyond depends on it. Thanks to innovations like the Internet, the public’s ability to access information that was once kept hidden from view is now possible. This instills the hope that much like the Fellowship in LOTR was eventually able to thwart the efforts of Sauron, we as citizens of the United States can succeed in abolishing the Federal Reserve System and help restore this nation to the democratic vision of our Forefathers. ttp://www. federalreserve. gov/pubs/frseries/frseri. htm Delaware Corporation No. 0042817, https://sos-res. state. de. us/tin/GINameSearch. jsp http://www. lib. umich. edu/govdocs/jfkeo/eo/11110. htm DiLorenzo, Thomas J. 1994. Economic Fascism, The Freeman DiLorenzo, Thomas J. 1994. Economic Fascism, The Freeman http://www. house. gov/paul/legis/106/hr1148. htm http://www. ronpaul2008. com/