The Fed, nothing but a paper tiger, will be the ruin of this nation

To the editor:

John Maynard Keynes, British Fabian Socialist and author of Keynesian Economics, quoted Lenin when he proclaimed that his system would be the "euthanasia of capitalism." He also boasted: "By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft."

The true free market economics was the foundational pillar America was built on. Yet, Keynesian deficit spending advocates continue to dominate. Without such government activity ever taught in public-run schools, the natural inclination to not to believe such bad news as you are being stolen blind is not appreciated. Is it any wonder that Keynes boasted, "...not one man in a million could diagnose it?" Oblivious to such insults, this audacious denigrating challenge to the economic ignorance of most Americans continues.

Karl Marx crafted the blueprint to destroy liberty in The Communist Manifesto. In 1848, he wrote that the key to this generational process was: "[c]entralization of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly." In 1913, could it be that one quarter of the world's wealth that created the Federal Reserve were ignorant? That the FED was unconstitutional precisely because it authorized paper money contrary to the Founders wisdom gained from experience. It appears they were more in tune with Marx's debauchery of the currency, than Article I , Section 8, clause 4 of the U.S. Constittution: "To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures."

Americans continue to be shielded from the necessary basic principles of the free market; especially the nature of money that would enable them to protect their wallet. Thanks to Keynesian Economics, we now have fiat currency. President Richard Nixon, in 1971, finalized making the dollar equivalent to Monopoly money; no longer allowing the direct convertibility of the dollar to gold. Just like the Monopoly game rules give money value, the FED gives our paper dollars value. We now have Fiat currency, inflatable at will by the FED to infinity.

American's born after the FED was created are shielded and immunized from viewing this nefarious process. They are like one who attends a movies half way through, never getting the complete picture. Increase your knowledge with just nine minutes of wisdom, here https://youtu.be/H2Siol4JWKg, from the late, great patriot John F McManus, former President Emeritus of The John Birch Society, given in the first decade of this century when the National Debt was nine trillion. Today, it has multiplied four times. Only you can stop this economic suicide. Restore constitutional currency and Abolish The FED!

- Russ Payne,

Merrimack