When government prints money it only makes us poorer

While good men die and moms and dads morn the loss of sons and daughters, Congress generously finances the price of war reaching deep in the pockets of taxpayers through inflation. (Courtesy photo)

To the editor:

The decline of the U.S. dollar has deteriorated 98% since the Federal Reserve was created. FDR's 1933 Executive Decrees initiated the removal of precious metal backing from the U.S. dollar by taking us off the gold standard. Thereafter, dollars were only redeemable for silver until 1971. President Nixon then removed the dollar's silver backing. From fiduciary currency to fiat currency, the dollar's value has deteriorated from "good as gold" to Monopoly money. Laws declaring the fiat American dollar's value is now equivalent to the Monopoly's game rules giving value to its tender. This in-process system continuously steals the value from each dollar you earn. When you hear the term "quantitative easing," know the money supply is being created out of thin air. Each dollar, in your pocket, becomes worth less because new dollars take value away from dollars already in circulation. Quantitative easing is a tried and true system to erase the wealth of the masses.

In 1921, the German Deutsche central bank initiated quantitative easing to pay Germany's WWI debt. According to William L. Schirer, in "The Rise and Fall of The Third Reich," the German Mark began to lose value in 1921 when it dropped to 75 to the dollar. In January 1922, $1.00 converted to 189 Reichmarks ("RM"). Thereafter , as the printing press ran continuously each month, the conversion rate grew. By October of 1924, each dollar was equal in value to 4,200,000,000,000 RM. The next month the RM was revalued to 1 trillion RM = 1 new Mark. This process that completely stole the wealth of the German people has been in process since 1913 in our nation. Today, will Biden's economy finally raise enough awareness to the revalue scheme that finally kills the dollar.

Central bank theft American style is thoroughly detailed in Thomas Delorenzo's 4/29/24 article called , "THE FED Americas boom & Bust Machine" -link https://thenewamerican.com/print/the-fed-americas-boom-and-bust-machine/_pdf/ A key paragraph explains: "The FED increases the supply of money in circulation by purchasing billions of dollars of government bonds ( 'quantitative easing'). It also regulates the 'fractional reserve' banking system, whereby banks are required to maintain in reserve only tiny percentages of the loans they make. This percentage is called the 'reserve ratio'. At a reserve ratio of say . two percent , a bank with $10 million in reserves can then lend 50 times that amount, or $500 million ."

Just as pre-Nazi Germany's Weimar Republic needed WW I war debt as a reason to inflate the Mark, 20th century wars have continuously generated inflation within the United States. While good men die and moms and dads morn the loss of sons and daughters, Congress generously finances the price of war reaching deep in the pockets of taxpayers through inflation. The FED has increased our national debt from one billion, in 1913, to over 34 trillion today. Egregiously, in 2023, the FED charged the American taxpayer $658 billion interest. This unscrupulous profiteering that blames free enterprise for crime committed by central bankers was propagated by Karl Marx. Marx advocated for the creation of an inflation machine by centrally controlling banking; the fifth step in the Communist Manifesto.

According to the Inflation Calculator: $100 in 1913 would be equal today to $3,172.23 in 2024. What can you do to stop the erasure of your wealth? Tell your NH state Representatives and Senators to support and pass HB1232 to ban central bank currency in NH https://jbs.org/alert/ban-a-central-bank-digital-currency-in-new-hampshire/. Then contact your Washington Representatives and Senators. Tell them to support H.R. 24 in the House and in the Senate, S. 3566: The Federal Reserve Transparency Act sheds a much needed light on the Federal Reserve system. The buck stops with you. Too bad, you can't spend it.

- Russ Payne,

Merrimack