At the RLC we favor the return of asset backed currency by the federal government and the removal of authority to print money by the Federal Reserve Bank. We support the creation of Florida competing currency that is backed by hard assets such as gold or silver as authorized by Article I, section 10, of the U.S. Constitution. Thus, putting an end to the inflationary practices of the Federal Reserve Bank and restoring integrity to America’s monetary system.
Every day the wealth of Floridians is being taken by the unbridled printing of Dollars that increases the supply of currency in circulation. This rampant devaluation is most harmful to Florida’s retirees and those with low fixed incomes most of all. The RLC promotes the return to the elimination of federal government debt, balanced budgets and sound currency backed by gold or silver as required by the U.S. Constitution. Whereby, the monetary system in America would return to a period of stability and end the inflationary practices of the Federal Reserve Bank or as we call them “the Fed.”
The Fed, our central bank, fosters runaway debt by increasing the money supply – making each dollar in your pocket worth less. Few realize that the Fed is no more “Federal” than Federal Express. The Fed is a private bank cartel run by unelected officials who are not required to be open or accountable to “We the People” or even members of Congress.
When the federal government finds that it cannot afford its out-of-control spending, and is unwilling to directly tax the public, it resorts to borrowing money from the Fed. In turn, the Fed simply creates new money out of cotton paper and green ink, utilizing the printing presses of the U.S. Treasury. The Fed then loans the money to the federal government and the American taxpayers pay interest to the Fed for borrowing these newly printed notes. A significant portion of all taxes collected provides no benefit to the American citizen and does nothing more than pay interest on this debt.
This broken system greatly benefits politicians and special interest groups — enabling them to finance the massive welfare-warfare state. Basic economics tell us that the more there is of a good, the less valuable it becomes. The same holds true for money. The dollar is worth four cents of what it was when the Federal Reserve was created in 1913. Day by day, every dollar Floridians have is being devalued. You pay an inflation tax without even realizing it because you are forced by a falling dollar to pay more for goods and services.
Because the public is forced to accept the rampantly printed bills, the Fed is essentially getting away with legal counterfeiting. The disastrous fiscal policies of our own government, marked by shameless deficit spending and combined with the devaluation of our currency, are some of the greatest threats facing our nation today. It is this one-two punch – Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference – that threatens to impoverish us by further destroying the value of our dollars and saddling Americans with insurmountable debt.
Our economy and our very independence as a nation is increasingly in the hands of foreign governments such as China and Saudi Arabia, because of the enormous debts we owe to their central banks. The value of the U.S. Dollar is now at the mercy of foreign governments that don’t exactly have America’s interests in mind. We cannot continue to allow private banks, wasteful agencies, lobbyists, corporations on welfare and governments collecting foreign aid to dictate the size of our ballooning budget. America needs a new method to prioritize our spending. It’s called the Constitution of the United States.
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