Will Grigg's Liberty Minute

August 31, 2007

While you have been busy working, or perhaps enjoying a well-deserved and too-brief vacation, the Federal Reserve ? the regime's official counterfeiting arm ? has been stealing the value of the dollars that you earn.

In order to stabilize markets left reeling from the ongoing collapse of the sub-prime mortgage industry, the Fed emitted roughly $100 billion. The first beneficiaries were major banks -- Deutsche Bank, Citigroup, Bank of America, Wachovia, and JP Morgan & Chase ? each of which received hundreds of millions of dollars via the Fed's discount window.

Through the magic of fractional-reserve banking, those dollars will be multiplied many times over in new loans. All of this helps to undermine our purchasing power and the value of our savings. And we'll take another hit when Congress raises the debt ceiling ? which is nearly $9 trillion dollars ? in a few weeks.

Incidentally, average US incomes have fallen since 2000.

Why, oh why, do we put up with this?

Let us take back the liberty wherewith Christ has made us free.