Paper money, personal freedom and privacy are incompatible. Paper money centralizes power to the state and diminishes the individual. This is the first cause of all you see happening.
The only way for true economic growth is by the transfer of services, goods or wealth between people (or businesses) who actually produce something. In other words, if someone provides a service and gets gold or silver (actual wealth) or widgets for compensation, both the service provider and widget maker have benefited and each has something that has bettered his standard of living.
If the one who performed the service uses the widgets to acquire trinkets that help him perform his service, then the service performer has benefited. The trinket maker has also benefited, and he can put the widgets to use. This sort of transfer has worked from the beginning of time, when the farmer took his produce to market, where it was sold or bartered in exchange for wealth, tools, supplies and seeds so he could begin producing food for next year.
But the Fed produces nothing but more paper money, and it takes from the producers. Therefore, its only solution for the collapsing financial system is to steal wealth from the producers of goods and services through taxation and provide more and more fiat money and credit. This can only mean final and complete collapse of the U.S. dollar.
Many of the Founders understood this. In a letter to Jabez Bowen of Rhode Island on Jan. 9, 1787, George Washington wrote:
Every lover of his country will therefore be solicitous to find out some speedy remedy for this alarming evil. There is no possible substitute for the loss of commerce. Our first grand object, therefore, is its restoration. I presume not to dictate or direct. It is a subject that will require the deepest deliberations and researches of the wisest and more experienced men in America to fully comprehend. It probably belongs to no one man existing to possess all the qualifications required to trace the course of American commerce through all intricate paths nor to those and only those that shall lead the United States to future glory and prosperity. I am sanguine in the belief of the possibility that we may one day become a great commercial and flourishing nation.
But if in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body. They prey on the vitals and ultimately destroy them.
Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.
A fiat paper money regime always becomes autocratic or fascist toward the last days of its existence. This is the time when the State makes war on its own people. Most never know it because it is not announced, but hidden in propaganda within such terms as “for the common good.”
Fiat paper money is tyranny or becomes tyranny. It guarantees criminal government. We have been seeing the result of this for years.
The people just rejected tyranny and criminal government. If Trump is a true populist and for the people he will address money printing post haste.
I don’t expect it to happen. The banksters wouldn’t stand for such a thing.
But The Wall Street Journal posits that a move to audit the Fed and take greater control over it is possible with Republicans controlling Washington. We shall see, but I am not holding my breath.