Twenty-two years ago, economist, revisionist historian, and libertarian icon Murray Rothbard published “The Case Against The Fed”. It is a short book; only 168 pages, but its weight is exponentially greater than its page count. I won’t lie to you: it’s not an easy read. Despite that, I urge everyone to take the time and effort to work your way through it. The book has been made available in electronic formats, free of charge, by The Mises Institute. You can find it here: https://mises.org/library/case-against-fed-0.

In those pages, Rothbard explains, as simply as he possibly can, an extremely intricate conspiracy that is at the very root – in fact, I firmly believe that it is the root – of virtually all the issues wrong with our nation and its government for the past century and today. In the closing pages, he also laid out a simple plan to defeat the conspiracy.

It truly is a simple plan. And implementing Rothbard’s plan truly would be, in my opinion, the absolute best thing to happen to our nation. Unfortunately, it’s not an easy plan, or a painless one. In fact, I honestly don’t believe it will ever be implemented – at least, not peacefully.

Nonetheless, I thought it might be entertaining (in a macabre sort of way) and enlightening (in a depressing sort of way) to update Rothbard’s figures from 22 years ago. I leave it to you to draw your own conclusions about how the numbers from then and from now compare and contrast.

First, a simple ledger gleaned from the Fed’s own published “balance sheets”:

(*1) 1994 figures taken from the text of “The Case Against The Fed”, Copyright 2007 by the Ludwig von Mises Institute.

(*2) 2016 figures from: https://www.federalreserve.gov/econresdata/releases/intlsumm/current.htm

(*3) Does not include $8B of “Earmarked Gold”, “Held in foreign and international accounts…”. “Gold stock is valued at $42.22 per fine troy ounce.”

(*4) “SDRs” acronym for “Special Drawing Rights”; another boondoogle involving the IMF.

(*5) Other Fed Assets include loans to banks, physical assets such as bank buildings, real property, etc. I have been, so far, unsuccessful in finding an updated figure for this category; for the sake of argument I have carried it forward, unchanged.

Now, the bare bones of Rothbard’s plan:

End the Fed.

Yes, end it. Abolish it. Do away with it. Eliminate it. As Rothbard says: “The Federal Reserve is officially a “corporation,” and the way to abolish it is the way any corporation, certainly any inherently insolvent corporation such as the Fed, is abolished. Any corporation is eliminated by liquidating its assets and parceling them out pro rata to the corporation’s creditors.”

We, you and I, the American people, are the Federal Reserve Corporation’s creditors. We are the ones who have been fleeced, coerced, taxed, and blatantly robbed to prop it up. We should, we need to, we MUST revoke its charter and destroy the means that it affords “our” government to continue all the follies and downright evils they commit.

Simply put, we should seize the gold and “real” assets of the Federal Reserve and cancel – repudiate – everything else on their balance sheets. The gold is the only real thing the Federal Reserve has, and since they stole it from us to begin with, we should reclaim it. Almost all of the other assets are nothing but accounting fictions; the left hand “loaning” empty air to the right hand. Erase them.

The Fed’s balance sheet shows $11B in gold inventory. Notice that that number has not changed in at least 22 years. The gold is, tellingly, also valued at a mere $42.22 per ounce – unchanged since February 12, 1973, when then-President Nixon officially moved the United States to a totally fiat currency. $11B at $42.22 per ounce translates to a little over 260 million ounces of gold in the Fed’s vaults (we hope).Today’s -Nov 4th, 2016- spot price for gold bullion is $1302.30 per ounce. IF (a very big “if”) the Fed actually has that gold in its New York vaults, a little simple math tells us that its worth in today’s dollars is not $11 billion, but northwards of $339B!

Unfortunately, $339B, while a not-insubstantial amount, isn’t nearly enough to fuel a thriving free market economy, especially considering that, by their own admission, there is something on the order of $1.5T (yes, trillion) worth of Federal Reserve currency in circulation today.

We have to revalue. We have to distribute that 260 million ounces of gold so that everyone holding Federal Reserve Notes gets their fair share – a pro rata distribution of assets to the creditors of a failed business, as is done every day in this and other countries. So we divide the outstanding debt – 1,500,000,000,000 dollar bills – by the available asset – 260,000,000 ounces of gold – and get a new, pro-rated value: $5,769.23 per ounce. And that means that every one-dollar Federal Reserve Note is then worth 1/5,769.23rd of an ounce of gold, and can be exchanged for crisp new U.S. dollar bills backed by that weight of gold, or for the gold itself, if you insist.

Think about the ramifications. There will be some short-lived panics. The stock market will reel for months as it adjusts to the new reality. Fortunes will be lost, and made. Many businesses will crumble. Credit will be very, very tight until the dust settles. Prices for virtually everything will be a roller-coaster ride until the market finds its new balance.

And our endless wars will stop, almost overnight. The military-industrial complex will be destroyed. Congress will no longer be able to spend money we don’t have on programs we can’t afford. Foreign nations that have been suckling at our teat these many decades will howl when the IMF goes bankrupt and they are forced to fend for themselves for a change. And, most importantly of all, inflation – that invisible thief of our children’s future – will instantly vanish.

End the Fed. Consider it major surgery to save the patient’s life, to remove a deadly cancer. It’s past time. The cancer is almost, is very, very close to being, too far advanced. Remove it, now.

We interrupt this republic to bring you…. uh…. we have no idea. We have no idea what to say anymore. It’s been a long time since we did a blog post. To be quite honest, we are so disgusted with what is going on in our country these days, that to even put our disgust into words would make the saltiest sailor blush and believe me, that’s saying something.

There are times when we are so dumbfounded at something that has happened that the plethora of obscenities that spring forth cannot even begin to explain how…well…dumbfounded we are. See? We can’t even explain it properly.

What the hell? To put it mildly. Shenanigans. Just plain shenanigans.

Let me give you a few examples.

Donald Trump.

Do I even need to say anymore?

How in the hell (and again, that’s putting it mildly) can Donald Trump be so high up in the polls? He’s filed for bankruptcy how many times? And he wants us to put him in charge of the country? But what is bothering us the most? There are people willing to vote for him???

Hillary Clinton is a criminal. She has broken the law more times than anyone cares to count, yet there are still people who will vote for her. What??

And Bernie Sanders. He wants to raise the minimum wage to $15 an hour. He wants to make all tuition free at all public colleges and universities. He wants every American on a single-payer health plan. He’s a whack job. And he has no business being president.

We could go on. We could say something about every one of the candidates running for the White House. Not a single one of them is presidential material. Not a single one. And frankly, it scares the hell out of us. Even Carli Fiorina says she would be fine with a Muslim president. How on earth could someone, whose job would be to uphold and protect the Constitution of the United States, not have a problem with someone being elected president whose religious tenets go against the very fiber of that same document?

Congress is a joke. Why are they even in Washington? Corporations are writing legislation. The elected officials might as well just bring their asses right on back home. They are only there to pad their pockets.

The Supreme Court. Holy hell. Where do we even begin? The last bastion of our Constitutional rights and they have gone off their benches. Completely. Totally.

Our president has given Iran a get out of nuclear jail free card that they can use anytime they want and flown the middle finger at Israel in the process. He and Congress have signed willy nilly various and sundry legislations that 99.999% of them didn’t even freaking read, let alone understand. Did you know that every time they sign another bill, they take away another right? Are you paying attention? Are you?

We have an elected official who is refusing to do her job because it goes against her religious beliefs. And people are cheering her on. People actually believe that it’s okay for an elected official to refuse to issue a marriage license to someone because it goes against her religion. What if her religion said it was wrong for a man and woman to marry? It’s a stretch, I know. Work with me here. What if her religion said it was wrong for a white woman and a black man to marry? What if she decided to follow all of the rules in the Bible and deny adulterers a marriage license? Would it be okay then for her to refuse to do her job that she was elected to do?

What if a teacher said it was against her religion to teach Common Core? Would she get fired? Or would people all over the country stand behind her and play “Eye of the Tiger” for her when she got released from jail?

We are disgusted, I tell you. We don’t even know where to go from here. We can’t even break 100 followers on our Facebook page. Apparently we aren’t funny like the hundreds of viral videos floating around these days. Or cute like the bulldog puppy barking at the slipper or whatever. There is a FB page dedicated to everything skulls. They have over 100,000 followers. Sigh.

You let us know what you think we should do. Because we are at a loss for words. And believe me when I tell you, that is saying something.

If James Madison knew then what we know now, how do you think he would have changed the Constitution?

Is there something he would have put in?

Something he would have left out?

Would there have been more defined limits on executive powers?

More clearly defined limits on what the central government can and can’t do?

Term limits for Congress?

More language about how Congress is responsible for guarding the currency?

How about an article spelling out the procedure for a State to peacefully secede from the union?

Tell us what you think Madison should have done when he wrote the Constitution.

I get it. Some people are scared of guns. Not anyone I know, but some people. I have been around guns my entire life. My father has had a shotgun, loaded, leaned against a corner in my parent’s bedroom for as long as I can remember.

Gasp! With children in the house?

Yes, with children in the house.

Children who were taught at a very early age that guns were not toys, Children who were taught at a very early age to do what they were told, and we were told not to touch the guns without permission. Ever. Children who were taught at a very early age how to shoot, and how to do it properly. Children who were taught, by a patient and caring father, to have a healthy respect for guns, but to not be afraid of them.

But, I understand that not everyone was as lucky as we were. I understand that not everyone feels comfortable with a loaded .40 caliber pistol on the bedside table. I get it. To each his own. If you don’t want to own a gun, don’t own one. See? Wasn’t I nice? Why can’t you scaredy cat ninnies who want to outlaw all guns be nice to me?

Sigh. I’m sorry. That was uncalled for. It isn’t your fault that you live in an area that has strict gun laws and you can’t own one. What’s that you say? That’s not the reason? Okay, well, it isn’t your fault your parents were tree-hugging hippies making love, not war and sticking flowers in the end of rifle barrels. What? That’s not the reason either? Okay, I give. What is the reason that you refuse to exercise your right to protect yourself and your family?

Guns kill people.

Hold it right there. Just hold it. Right. There.

People kill people. It wouldn’t matter if there wasn’t a gun available in the universe; if they wanted you dead, you’d be dead. Are you going to outlaw every single sharp object in the world? Every knife? Every ax? Lizzie Borden didn’t have any trouble. No one else will either. Don’t you get it? It isn’t the guns who kill people. Take a look at this graphic from the FBI on weapons used in murders from 2008 to 2012.

According to their stats, there were 8,755 murders committed from 2008 to 2012 by people using knives or other cutting instruments. There were also 2,795 murders committed by people wielding clubs, or hammers, or baseball bats. And my personal favorite, those personal weapons, hands, fists, feet and the like were used to murder 3,890 people.

I can hear you now. But there have been 36,163 people murdered by guns. Well, again, they weren’t murdered by guns. They were murdered by someone using a gun. It could have been a rifle, a shotgun, a handgun or an antique muzzle loader. But the problem still IS NOT THE GUNS. The problem is people’s value of human life, but that’s for another blog post.

My point for bringing these stats to your attention was not to hurt my case. It was to prove that if there were no guns, people would still find a way to kill one another. But let’s look at another statistic shall we? Below is a listing of all firearms manufactured, imported and sold in the U.S. in the same years as the FBI stats on murders.

Do you see what I see? From 2008 to 2012, there were almost 48,000,000 firearms manufactured, imported and sold in the U.S. Yet, only 36,000 of those weapons were used to murder someone. Do you know what that means? That means you have less than one one-thousandths of one percent of being murdered by a firearm. That means that one out of 750,000 firearms were used in murders. And that’s only counting the firearms sold in the U.S. during that one five year period. it is estimated that there are 270-310 million firearms in the hands of U.S. civilians. So, out of all those millions of guns, only 36,000 murders were committed in a five year period. I can’t do the math on that one. The percentage is so astronomically small that the Windows calculator can’t display it as a number. And I’m not a mathematician. But you get the idea.

Now, before you yell at me for saying there were “only 36,000 murders” and lives matter, hang on. Yes, I know, any murder is senseless and completely horrible. And people who call for more gun control because of 36,000 murders using firearms believe they have a leg to stand on. But, did you know that in that same five year period there were 170,566 deaths from car accidents? So why don’t cars kill people? Why aren’t you yelling at the top of your lungs to ban all vehicles? Ah, I see. You aren’t afraid of your car.

Now, just imagine for one second, how many murders there would have been if there weren’t firearms in the hands of law abiding citizens, who would only use a weapon on another person as a last resort to protect themselves? How many? What stops a bad man with a gun? A good man with one.

And while we are talking, let’s talk about the intent behind the 2nd Amendment. That government you keep calling on? The one you keep screaming at to outlaw this and outlaw that? The Founding Fathers put the 2nd Amendment in the Bill of Rights to protect you FROM THEM. 

Oh, sure. People claim they need their guns to hunt to feed their families. They claim they need their guns to protect themselves, their families and their belongings from intruders. But that is only the icing on the Founders’ cake. The cake itself was baked for the sole purpose of protecting you from a tyrannical government. Period. End of story.

So, while you whine to said government to protect you from anything and everything because you are unable or too afraid to do it yourself, you leave my guns alone.

This afternoon I ran up to the store to pick up some extra cooking oil for our fish fry (the kids and Grandpa slayed them yesterday) and the weather just happened to roll in while I was out. On the way home, visibility was probably about 50 meters; and as I came down the big hill to the house I saw a young man walking up the road in the pouring rain, wearing swim trunks and water shoes, so I stopped.

He walked up to the window and said that he and some friends were floating down the river when the rain arrived, so he was walking to get his truck and relieve everyone from the weather. He then asked if I could give him a ride to said truck and added that “he would do me no harm.”

See, here’s the long and the short of it. I’ve used the word “fiat” a few times in previous articles. We need to talk about that some more, because it fits in with everything else we’ve discussed. In fact, it’s really the heart of everything else.

“Fiat” is just another word for “worthless”; a thing of no value. Unless it’s referring to one of those cute little Italian cars – then it’s got value. Otherwise, nada. Zip. Zero. A thing of no value.

Federal Reserve Notes, like that dollar bill in your pocket, are “fiat” currency. They have nothing of value behind them. They don’t represent a dollar’s worth of any real thing, like gold or silver. They’re “notes”. They’re commonly referred to as FRNs.

The only way fiat currency can exist is if the people (that’s us, you and me) are forced, at gunpoint, to use it. The most important way D.C. forces us to use FRNs is to demand we use them to pay our mandatory income taxes. Here’s an experiment for you: Next year, come April 15th, saunter into your local IRS office and offer them a few bushels of new string beans out of your garden as payment on your taxes. See how far that gets you. Or maybe you just got back from your annual European vacation and still have some Swiss francs you’d like to get rid of. Try paying your taxes with them. Go ahead, I’ll wait. Good luck with that.

The sneaky way they get around giving most of us a chance to think about this is the W4; the “Employee’s Withholding Allowance Certificate”. By stealing it from you a little at a time – in FRNs – you don’t get sticker shock come April. Also, since most people are deathly afraid of the IRS, we tend to over-pay on that W4, so we have a “refund” due at the end of year. And we get paid in……FRNs.

We cannot escape using fiat FRNs (okay, that’s redundant. I won’t do it again.) because every interaction we have with D.C. requires us to use them. Taxes, of course, license fees, permits, services, anything that we have to buy from them has to be paid for in FRNs. And they only pay out in FRNs. Welfare of any description, Social Security checks, government payroll, contracts with businesses, all of it. Anything in or out of D.C. has to be FRNs. So that means that everybody – you, me, the grocery store, your employer, even your paperboy (do we still have paperboys?) has to collect FRNs so they can do their business with D.C.

“Well, yeah, because that’s ‘our’ money” you say. Got a news flash for you: that ain’t “our” money at all. We don’t own it. We don’t print it. We don’t control it, in any way, shape, or form.

It. Ain’t. Ours.

We’re just forced, literally at gun point, to use it. Hell, we can’t even barter amongst ourselves unless we declare the values of the bartered items in – you got it – FRNs.

I repeat: it. ain’t. ours.

That money belongs to a private central bank. Every green piece of paper in your pocket is the property of the banks behind the Federal Reserve. Every digital 1 and 0 in your bank account is the property of the banks behind the Federal Reserve. You have temporary custody, but it belongs to the Fed. That’s because every one of them, every bill, every byte, is your copy of an IOU, a loan, made by the Fed to “our” government. Add them all up, all the pockets, all the piggy banks, the penny jars, the bank accounts, the loan balances, all of the little pieces (and the big pieces, like the trillions of dollars “our” government gives to other countries) — and they exactly equal the national debt. They ARE the national debt. That dollar bill in your pocket is a certificate of debt. Our debt. Your debt. My debt. Our children’s debt.

Debt created for us, without our consent, by Congress.

Debt owed to a cartel, an international corporation of bankers, who do business with “our” government via a storefront named The Federal Reserve System. We don’t even know who those bankers are. I’m not sure anyone in Congress, or in the President’s Treasury Department know who they are. We have a pretty good idea who some of them might be, but not every one of them. The storefront, the Federal Reserve, shields them, hides them, protects them from view.

This was all arranged back in 1913. (Funny how we keep going back to that year, isn’t it?) The 16th Amendment, authorizing a direct income tax, superseded the two articles of the Constitution expressly forbidding this kind of taxation. It was absolutely necessary that Congress control your taxes directly, instead of having to deal with the States as go-betweens. Otherwise they wouldn’t have been able to force us to use FRNs.

Hand in glove with the 16thA, the 17thA was ratified a few weeks later, taking away the States power in D.C. (we talked about that in our last article). Then later that year, with Senators now clamoring for reelection donations they had never needed before, Congress passed the Federal Reserve Act. The act set up the structure of exactly how Congress and the bank cartel would do business, and delegated Congress’ Constitutional duty to issue and control our currency to the new central bank owned by the cartel. And the deal was done.

Rereading that last bit, I realize that I just summed up the core of “our” government’s greatest betrayal of us all in just two short paragraphs.

If you aren’t pissed yet, I don’t know what else to tell you.

I can though, very, very strongly, urge you to read G. Edward Griffin’s The Creature from Jekyll Island. You may not agree with his conclusions in the later parts of the book, but he researched the actual history of the plot behind creating the Federal Reserve so well that no one, absolutely no one, can argue the truths he uncovered. It is a fascinating read and WILL piss you off. Please, read it. Please. I’m begging you.