US Financial and Monetary Policies

There can be little doubt that we Americans love money. Unfortunately we love spending it more than we love having it. This has caused a ¨culture of debt¨. Very few of us actually save any money and spend much more than we earn every year. I encourage everyone to read http://www.tomorrowsmoney.org/youngpeople/section.cfm/386 and to think carefully about your financial goals.

I believe it is fair to say that the average American is careless and wasteful with his or her money. It is said that our elected officials are but a reflection of ourselves r so what do you think that makes them? Our elected officials are just as careless and wasteful when it comes to our tax money as the average American is with their paycheck. Billions in foreign aid, billions to maintain our military, billions to build better weapons, billion is advertising and these numbers are increasing every year. We simply do not have unlimited resources and printing more money is the worst thing we could do. Is it really that hard to spend less money? We Americans like not doing things maybe we should try not spending as much money.

When our country was founded some if not all states had their own individual currencies and when they ran out of money they simply printed more. This caused run away inflation and basically defrauded their creditors. This outraged many of our founding fathers who then pushed for a single asset based national currency which we had for many years. Now the only asset that our currency is based on is the ¨Faith and Goodwill of the United States Government¨. How much faith or goodwill do you think the government keeps in stock? I would judge by the state of our affairs they don´t have much if any left. Also, when we are confronted with a deficit what do we do? We print more money just as the states did all those years ago. I am sure our founding fathers would be just as outraged now as they were then.

Go Ron Paul!!

Ron Paul´s stance on monetary and financial policy

http://www.ronpaul2008.com/issues/debt-and-taxes/

Further Reading

http://www.amazon.com/Federalist-Papers-Penguin-Classics/dp/0140444955

http://www.frbsf.org/publications/federalreserve/monetary/index.html

-David