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But as criticism spreads, there will be more voters who figure out what the FED is and has always been: a government-created cartel of the banks. It operates for the benefit of the largest banks.
It operates for the benefit of the people who have the power to run the largest banks.
The largest banks are legal fictions. The people who have the power to run the largest banks are legal criminals, who commit crimes like fraud, theft, extortion, and even greater crimes, by way of their connection to the law force, where the people who run the law force enforce those crimes, by covering them up, and by issuing a license that prescribes those crimes to be legal.
This will result, ultimately, in the abolition of the FED. Whatever replaces it will decide the economic fate of Americans: Congress (hyperinflation) or the free market (economic stability).
The "free market" cannot do anything, it can't make economic stability, or unmake it, and what those code words mean is this:
Competition is a force by which the production of things, including the production of services is forced into a higher quality production, and the same force is a force that forces the cost, or the price, to be lower for those higher quality things produced, including services.
If the "free market" isn't understood to be "the force of competition", then the "free market" can be misunderstood to be "a market free from the force of competition".
A cabal is a monopoly, a single producer of a single product that is free from the force of competition and therefore the quality is not forced up and the cost, or price, is not forced down by competition, since a cabal is a monopoly and therefore a cabal is free from the force of competition.
Any consumer of the thing produced by a monopoly has one choice:
Product A
When the thing produced is a necessary thing, then any consumer of the thing produced, by a cabal, or a monopoly, is one choice:
Obey
When the thing produced is produced by more than one producer, and therefore neither producer is free from competition, the the consumers of the necessary thing produced, or even the unnecessary thing produced have more than one choice:
Product A
Product B
The force of competition works as a force, a real force, a powerful force, as more consumers, more buyers, more people wanting, needing, and then getting the higher quality product, at the lower price, or lower cost, power up the producer of the better product at the lower price while less power flows to the producer of the less higher quality and higher price, or higher cost product.
The better product is made scarce, desired, wanted, purchased, consumed, used, and controlled by actual people who chose the better product.
The worse product is abundant, unwanted, not purchased, not consumed, unused, and ignored by the actual people who don't chose the worse product.
The people vote with their collective power of value judgment, and that collective power is the power that can be called The Free Market, while choice is a choice, and as the force of competition works to force producers into the required work needed to produce a higher quality product, at a lower price, or cost (cost to the consumer, or cost to the producer, as determined by the cost of production, the lowest possible price, the competitive price).
So, if Gary North is saying anything of value, to this consumer of the written word, I'll venture to say that Gary North is speaking about a Free Market that includes competition as a force that forces quality up and price, or cost down.
Unfortunately I don't think that Gary North quite understands what he is saying, as Gary North is one of those people who "believe" in "capitalism" as a thing that is competitive, say, against "socialism" as a competitive thing produced by people for people to consume or ignore at will - free will.
I can't ask Gary North questions, he doesn't answer questions from me.
I have tried. I can try again. I sent e-mail, and it will return with an automated message, again. I can trust that trying the same thing over and over again will result in the same result over and over again. Yes or no?
My latest e-mail:
Gary North, I am reading your latest publication on the LRC web site titled: How To End the Federal Reserve System I want to know what you think is the best money, the money that would be chosen by the greatest number of people as the power used to destroy competition becomes less powerful and as the power used to produce the best money, at the lowest cost to the consumer, increases. Joe Kelley
Back to Gary North:
If the FED produces a Third World economy through hyperinflation, then people will do what Third World citizens do: find reliable currencies elsewhere. This can be done on-line nearly for free. The Internet has reduced the transaction costs of using rival currencies. The FED economists know this. They know that transaction costs for using other currencies are low. If the FED's policies undermine long-term contracts, the citizens are not helpless. They can switch.
The power that enforces a currency monopoly is the power the enforces tax payments; when the tax payments are designated to be payable only with the designated money - such as a dollar.
A dollar is produced by someone legally. A person has the legal license to produce a dollar, or 2 billion dollars, or take away, destroy, 4 trillion dollars, at will.
The legal mumbo jumbo may hide that fact, and the people who are called lawyers, politicians, and economists may claim that a business or a government agency has the power to create or destroy a dollar, but law, but that is smoke and mirrors, since someone, or some group voting by way of majority vote, or by way of median vote, or by way of a vote count of some kind, cause more dollars to be created, or more dollars to be destroyed, by people, real people, people with cloths on, when these people are wearing clothes. When these people aren't wearing cloths they are naked people, people without cloths on.
Who is the person who has the final world on the final decision to, say, double the money supply, or cut the money supply of dollars in half?
If the one person isn't one person, and there are two, three, or 12 people who each have equal power to decide to, say, double the money supply, or cut the supply of dollars in half, and somehow all 12 people suddenly decide, at once, to double, or halve, the supply of dollars, then who are these people, what are their names?
Did person X decide to double the supply of dollars in 2008?
The point is that you don't have that power. Only one person has that power, everyone else is excluded. One person has the power to legally double the supply of dollars.
You don't think so? You think that a limited liability committee has that power, not one person?
Who takes credit for the decision to double the money supply today, or June 5th 1937, or on any day, at any time, when such a decision is made? Who points the finger at whom when the decision is discredited?
A building doesn't raise it's hand and say: I made that decision, at that time, on that day, and I doubled (or cut in half) the supply of dollars. It was me.
I take credit for that case whereby the number of dollars doubled, it was me, no one else, I take credit for that doubling of the money supply. I did it.
A building can't do that, and two people can't do that, unless two people agree to do that, and think about that, for a moment please.
When the decision is praised as a good decision two people may agree that, yes, we did it, and yes, we both take equal credit for having the power to double the money supply, in that case, on that day, thank you very much.
When the decision is ruinous, torturing, terrible, and the decision injures millions of innocent victims, will the same two people say, yes, we both did it, it was our idea, our power, and we decided to cause all that ruin, we did it, we both share that guilt equally, we did it, both of us.
Really?
Do you really think that people who have that power, and abuse that power, are the type of people who will be honest when it comes to guilt? Do you think that people like that will own up to their planned injuries to millions of people, take credit for having abused such power, and you think that one of them won't point the finger at the other one, let the other one take the fall, for having planned on, and then having followed through with the plan to injure millions of innocent victims just so that those two can keep their power?
If Ron Paul fingers The FED as the "entity" that causes a whole lot of suffering, truly, and if The FED is no more, then what replaces it - if not people, if not one person having the power to produce legal money at will, or two people agreeing, unanimously, to produce twice as much legal money today, or cut the supply in half tomorrow.
Ron Paul fingers The FED, and the power of law revokes that license, and those people at The FED no longer have the license, the license, a piece of paper, with the official stamp, is physically taken from a file cabinet at The Fed, by a person, with a hand, and then that license is received by someone else, somewhere else, and then the legal license to add to, or subtract from, the total supply of legal dollars, by any name whatever, legal units of legal tax debt, whatever.
People, wearing cloths, speaking, walking, talking, lying, deceiving, ordering torture, ordering mass murder, ordering terror, in the name of what - exactly?
If a person creates power and the power created is greater than the power consumed, there will be surplus power in one form or another and if the person creating that power allows that power to be transferred to someone else, what do you think will by done with that surplus wealth transferring from the person who creates it to the person who receives it?
Doesn't it stand to reason that the person receiving the surplus wealth will use that power to keep the power flowing from those who create power to them - exclusively?
Exclusively
No more competition
No more force by which quality increases and cost decreases.
Is this too complex for you too?