Free Market Not Failing
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The free market did not fail. Neither is the free market in the process of failing. This economic collapse is simply because we are not, and were not, operating in a free market system. Summarily, we are not free.
In 1913 our government allowed a handful of banks to own, and thus control, the Federal Reserve. These private banks determine how quickly currency is created and injected into the economy and how quickly currency is removed. They also determine by whom and on what terms the money is received. Put another way, J.P. Morgan Chase, Citibank, and their ilk, control whether the economy is booming, flat, or in recession. They also determine what segment of society becomes economically “privileged”.
The supply of Federal Reserve notes (United States dollars) is controlled by only a few private banks. When people choose to use something other than Federal Reserve notes, the institution of government will be used to persecute them. People are persecuted even if they try to use something as sound and time-honored as gold and silver, and both parties in the transaction are in agreement. The market is not free. It can best be described as authoritative and coercive.
What is happening today is entirely predictable. Consider this quote from Thomas Jefferson “If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”
To remedy the problem, we need to wrest back from these bankers the power to force the use of their money. While the 1776 American Revolution proved it can be done, it is no small feat.
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