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Dollars and Sense
John F. McManus, President of The John Birch Society, on today's economic problems and what to do about them.

Since the Founding Fathers were so opposed to unbacked paper money, our U.S. Constitution authorizes only gold and silver as legal tender. However, in 1913 Congress established the Federal Reserve, which has gradually transitioned our nation from gold and silver money to a fiat, paper currency. Since 1971 when the last link between our paper currency and precious metals was broken, the Fed has orchestrated expansion of the money supply and the resultant devaluation of the dollar. Join with us to restore sound money and phase out the Fed. 

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 Additional Tools

  • Understanding Economic Principles (5 pages): (1) "What Is Money?"; (2) "What Does the Constitution Say About Money?"; (3) "What Is Inflation?"; (4) "What Is the Federal Reserve?"; and (5) "Does the Free Market Work?" [ PDF ]
  • Ron Paul
    Congressman Ron Paul gives the latest exciting news on his legislation to audit the Federal Reserve and explains the possible next steps for the bill.
  • (NEW!) "END the FED!" flyer, one-page, download of artwork for April 25, 2009 End the Fed rallies. Includes special offer of free DVD with "Dollars and $ense" and "Overview of America" videos on one disk.
  • (NEW!) "END the FED!" slim jim, a 1/3-page, double-sided handout featuring H.R. 1207. Requires downloading two PDFs: Community Side and 'Audit the Fed' Side.
  • (NEW!) "Dollars and $ense: Solutions to the Economic Meltdown," booklet by John F. McManus. A printed version of "America's Economic Meltdown," a speech by John F. McManus.
  • A Crisis of Dollars and Sense. The "dollar" bills that we routinely exchange for goods and services are not genuine constitutional dollars, but promissory notes substituting for the real thing." By Edwin Vieira, Jr., The New American, December 24, 2008.
  • "The Fed's Hockey Stick Chart," TheNewAmerican.com, February 11, 2009. This article explains what's behind the hockey stick effect in the Fed's amazing money supply (monetary base) chart.
  • "Restoring Our Freedom and Prosperity by Restoring Sound Money a la Ron Paul," Ron Paul's prescription for making the transition from fiat money to sound money. Inflation & Taxes Blog on JBS.org, October 22, 2008.

 

Related...

  • Have You Seen the Amazing St. Louis Fed Money Supply Chart as Featured on Glenn Beck TV Today? Concerned about rampant inflation in the near future due to the unprecedented money creation activities of the Fed in recent months? If so, you must read on!
  • A Tiger by the Tail: The Keynesian Legacy of Inflation, a book by F. A. Hayek. This book totally demolishes Keynesian inflationary economics, which makes it totally relevant to our situation in the United States in 2009. Click here for a free audio download of the entire book.
  • Money, Banking, and the Federal Reserve," 42-minute video on YouTube.com and available on DVD for $15 from http://www.mises.org/store.
  • Washington House Joint Memorial 4010 (HJM4010), "Preventing unprecedented losses in the value of take-home pay, retirement income, insurance policies, and investments as a result of the federal reserve's ongoing inflation of un-backed paper money." Sponsored by Representatives Condotta, Shea, Klippert, Kretz, and McCune. First Reading January 30, 2009.
  • Ron Paul CPAC 2009," Ron Paul's speech at the 2009 Conservative Political Action Conference (CPAC) in Washington, DC on February 27, 2009. During much of this speech, Ron Paul focused on the role of the Federal Reserve in creating our economic crisis and how we must restore sound money and phase out the Fed in order to restore our freedom and prosperity. He also strongly recommended that we get behind his brand-new bill, H.R. 1207 (introduced February 26, 2009), "Federal Reserve Transparency Act of 2009," which would provide a thorough audit of the Federal Reserve to the members of Congress. See also, Ron Paul's "On Transparency of the Fed," February 23, 2009 for more details about what H.R. 1207 could accomplish.

 

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