In terms of Libertarians Senator Ron Paul is up there with the best of them. Currently running for the Republican nomination for President, Dr Paul has long been an advocate of libertarian governments and a return to sound money. Reading his book, End the Fed, this week, we felt the following excerpt was an interesting read compared to our usual posts.
I’ll tell you what I think about the way
This city treats her soundest men today;
By a coincidence more sad than funny,
It’s very like the way we treat our money.
The noble silver drachma that of old we were
So proud of, and the recent gold coins that
Rang true, clean-stamped and worth their weight
Throughout the world, have ceased to circulate.
Instead, the purses of Athenian shoppers
Are full of shoddy silver-plated coppers
Just so, when men are needed by the nation,
The best have been withdrawn from circulation.
From The Frogs by Aristophanes, about 400 B.C. as cited by Dr. Ron Paul, in End the Fed.
Ron Paul writes:
Even in 400B.C., as Aristophanes explains, and in ancient Egypt as described in the Old Testament, dishonesty in maintaining sound money coincided with the absence of moral leaders and excesses in foreign military aggression. Our money has gone bad. Our financial system is a mess. Abuse of power and abuse of money bring a nation down…It’s sad, because our future hangs in the balance, and what we do is crucial to the outcome.’
‘…the only unique power the Fed [or another central bank]possess is the power to inspire and support the new creation out of nothing. Who needs that? Banks like it. Government likes it. High-flying financiers like it. But the people do not benefit – just the reverse.’