Is Quantitative Easing An Attack On Your Freedom?

“In light of the US Central Bank‘s – I refuse to use their deceitful self-anointed Federal Reserve moniker – most recent grandstanding policy decision that has been referred to as QE light that precedes the inevitable QE2 launch sometime in the not so distant future, I present an open challenge to Paul Krugman and all like minded economists that support the monetary policy of dollar debasement,” J.S. Kim writes in a recent newsletter.  “The one question I want to see Mr. Krugman and his supporters answer is this:”

“If monetary debasement can truly create economic recovery, why did our Founding Fathers establish, in the US Coinage Act of 1792, that any persons discovered to be deliberately debasing US money shall be guilty of felony and shall be punished by death?”

J.S. Kim


“In light of the US Central Bank’s  – I refuse to use their deceitful self-anointed Federal Reserve moniker – most recent grandstanding policy decision that has been referred to as QE light that precedes the inevitable QE2 launch sometime in the not so distant future, I present an open challenge to Paul Krugman and all like minded economists, Nobel prize winning or not, that support the monetary policy of dollar debasement,” independent financial adviser J.S. Kim writes in a recent newsletter.

Here’s some more from the newsletter, published yesterday:

This will be a straightforward challenge issued by our Founding Fathers, in particular the first US Treasury Secretary, Alexander Hamilton, who scripted the US Coinage Act of 1792.

The one question I want to see Mr. Krugman and his supporters answer is this:

“If monetary debasement can truly create economic recovery, why did our Founding Fathers establish, in the US Coinage Act of 1792, that any persons discovered to be deliberately debasing US money ‘shall be guilty of felony and shall be punished by death’?”

Note that the punishment was not imprisonment, not even hard labor, but death. Why did our Founding Fathers, who had just gained freedom from the draconian monetary policies of the British monarch King George through the American Revolution and the Treaty of Paris in 1783 deem that monetary stability could not be separated from the conditions of freedom?

Why did they deem the act of monetary debasement so insidious that anyone found guilty of deliberately debasing US money would not be imprisoned but should be punished by death?

And why is monetary debasement today accepted as the “right thing to do” and “normalized” by prominent economists like Paul Krugman?

So this is all I ask of you Mr. Krugman – to repudiate Alexander Hamilton and explain why he was wrong. I don’t want the employment of “block and bridge” techniques that politicians are so deft at that fail to answer the question, and responses that entail long-winded dissertations on the relationships between monetary base, monetary supply and monetary velocity.

Merely answer the one question that Alexander Hamilton has posed to you above and explain your position.

J.S. Kim

On August 3, 2010, I posted a 3-part video series in regard to the Central Banks’ use of ideological subversion to mislead the masses. Step two of the process of ideological subversion requires the participation of academics to disseminate deceit if the deceit is to not only be widespread but successful in taking root in the consciousness of society.

The role of academics in shaping the discourse about the rationality of monetary debasement is critical to the belief system embraced by young impressionable minds for decades into the future as once a false belief takes root it is spread from one generation to the next.

In other words, the widespread adoption of the erroneous belief that monetary debasement is beneficial to the economic health of nations would be impossible without you, Mr. Krugman.

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The Bank of Japan is another Central Bank guilty of executing the act of monetary debasement for decades.

And again, academics that reside both within and outside of Japan ensure that the Japanese do not understand how monetary stability is inextricably linked to their most sacrosanct right of freedom.

Read the rest of this article at SmartKnowledgeU here.

J.S. Kim

Managing Director & Chief Investment Strategist

SmartKnowledgeU

Related by the Econotwist:

The US FED Launch The QE2 – Beta Version

USA Could Be Forced Into Another Trillion Dollar Bank Rescue

Helicopter Ben; Cleared For Take Off

A Report To Make You Go “Hmmm…”

Will Basel III Crush the Global Economy?

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3 Comments

Filed under International Econnomic Politics, National Economic Politics

3 responses to “Is Quantitative Easing An Attack On Your Freedom?

  1. Lustig, ich hatte garnicht gedacht das das *wirklich* so funktioniert. Komische Welt.

  2. Da fragt man sich beim lesen ja schon, ob man nicht irgendwie auf den Kopf gefallen ist.

  3. Krass! Hatte ich garnicht gedacht…