The After-the-Fed Solutions Debate Begins: Greenbackers Vs Goldbugs

The After-the-Fed Solutions Debate Begins: Greenbackers Vs Goldbugs
Eric Blair • Activist Post • October 12, 2010

Eric Blair just framed the debate in this very interesting way, posted on the Republic Broadcasting website today –

The After-the-Fed Solutions Debate Begins: Greenbackers Vs Goldbugs

. . . With all the recent mainstream talk and speculation about the end of the Fed, it is time to debate solutions for the future of America’s currency. This may indeed be the most important discussion of our lifetime.

. . . The debate between the two most popular proposed solutions of adopting the Greenback or the Gold Standard has just officially begun. Last week, Gary North, a Goldbug and author of Honest Money, wrote a scathing attack of Web of Debt author Ellen Brown, a Greenbacker. . . .

Passions already seem to be running high in the opening round of this most critical debate that will surely shape the future of our economy and society. Notably, both sides of this argument are in agreement that the Fed is a corrupt organization that must be ended. North acknowledged that Ron Paul and Ellen Brown share this common ground, but says the Tea Party movement (liberty movement) has “no economic understanding” and “They cannot distinguish Ron Paul’s opposition to the FED, based on the gold coin standard, from Ellen Brown’s opposition, based on a fiat money standard. They are intellectually defenseless.”

It seems a bit arrogant of North to suggest the liberty movement is confused about why Ron Paul and Ellen Brown support ending the Fed, and it’s also disingenuous to say that one side of the growing movement is “intellectually defenseless” because of disagreements about the solution. Especially when Brown’s public banking movement appears to be immediately workable and is gaining ground with the first pragmatic step being establishing state banks — as proven in North Dakota — which has a state-owned bank and boasts the lowest unemployment and the only budget surplus of the United States. . . .

Read the entire post here.

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