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Judge Napolitano explains how the United States government can return to the gold standard to restore prosperity and rein in the power of the Federal ...
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'cause the government work for us that we work for the government after nearly a hundred years of manipulation did basement and distrust.
Can Americans ever return to an honest money system again.
Tonight the path to constitutional money and the virtues of a free market.
What would it take for us to return to a gold standard well believe it or not the president can do this on his own just as an American president ended the gold standard on his own.
Of course returning us to convert ability.
What -- the -- of the big government types on the central bankers as they would lose their ability to manipulate our currency to bring cash as act will.
To control our behavior and of course to enrich themselves.
Convert ability meant that anyone could bring US dollars to the US treasury department's gold window.
And received gold real gold and return.
This was a legal requirement respected by the government and honored by it until President Nixon on his own -- 1971.
Directed the treasury to stop converting dollars into gold.
This was the third and final nail in the coffin of the gold standard the other two males have been hammered by Abraham Lincoln and Franklin Delano Roosevelt.
Lincoln instituted Paper money during the civil war and refuse to deliver gold to those who demanded it.
FDR unilaterally prohibited -- ownership of -- gold other than jewelry by anyone except the government.
Both of these decisions raised grave constitutional issues.
In Lincoln's case he defied the constitutional requirement up precious metals as the basis for currency.
And then FDR's case he defied the constitutional principle that the government only has the powers that the people have given to it.
And the people -- authorize the government to confiscate their gold.
In both cases the courts sharp -- Their duties to uphold the constitution.
And let those two radical presidents go about destroying liberty and prosperity.
We don't of gold -- to return to convert ability.
Well the big government types where whispering into president Nixon's here persuaded him that there can be to -- -- too little of anything.
-- but they forgot that the natural quality and natural quality of money is scarcity and because it is scarce it adds value.
If this were not so nothing would prevent us from just printing our way to prosperity.
Of course the Federal Reserve to the contrary notwithstanding.
Simply printed an infinite amount of money that the money would be worthless.
That's why gold and silver are valuable and will be traded despite all the heavy laws and -- taxation.
There renders gold owners as outlaws in many ways that's also why countries that have tried to print their way to prosperity.
Have ended up with a wheel -- of cash needed to buy a loaf of bread.
If government stopped taxing gold and silver as if they were toothbrush or car.
Gold and silver would circulate as currency once again that way gold or silver or both.
Could make their way into that in the hands of the poor and the middle class.
This is truly a free market way.
To spread the wealth.
If we -- polished legal tender laws those laws which permit the government to print worthless Paper money.
That would be a step on the road toward freedom and prosperity if the Federal Reserve no longer held a monopoly on the money supply that finally banks would be free.
From the crippling burdens of regulation by Washington and fixed interest rates determined by bureaucrats.
Then we would see real competition among the banks for your business.
Banks would only lend money that they had a deposit abolishing legal tender laws.
Means that a private bank can -- -- point and create a bank note somewhere to have -- -- does it.
Only this time it would be backed by gold.
Even digital currencies could be created as we could trade on -- goods and services for digital points that I value to those who decide to trade -- think of it.
We got to have a new economy no longer weighed down by the ancient institutions in Washington.
And regulated only by fair competition the laws of supply and demand.
And a government that protected us only from force and from fraud.
Finally -- gold and silver become currencies again as the constitution clearly requires.
When government issued Paper money is abolished.
We can Begin to clean up.
The mess that has become the American banking system banks for example will no longer be required to have FDIC insurance and all -- across -- regulations that a company.
Think about it the federal government has no business insuring your money and somebody else's bank instead private insurance companies would command and ensure that money.
Liberty means opportunity for more private enterprise and a government that does less regulates less and extracts less from taxpayers.
When all this happens.
Then we will see the opposite of what has happened when the feds to value of the dollar by separating it from gold.
A gold backed currency as I write in my book.
It is dangerous to be right when the government is wrong -- chase the worthless currency from a marketplace.
Stated differently.
It would be the free market's way of driving the money changes from the temple.
And the constitutional way of ridding ourselves of the -- the government and its bankers have shot all the products from New York defending.
