In the shadowy corridors of American monetary history lies an untold saga – a narrative that many hesitate to bring into the light.
The Sinister Symphony: US Secret Service’s Role in the Demise of Sound Money
In the annals of constitutional finance, the resonance of physical gold and silver coins, whether privately minted or not, proved to be an inconvenient barrier to the federal juggernaut’s expansion. In response, central planners orchestrated the circulation of unbacked paper proxies and birthed a Gestapo-like enforcer of this financial chicanery.
The Genesis of Deceit: Secret Service’s Conception in the Wake of Civil War
Established in 1865, amidst the embers of the Civil War, the Secret Service emerged as a branch of the US Treasury Department. Ostensibly, its mission was to thwart currency counterfeiters following the nationalization of the U.S. currency through the National Currency Act of 1863 and the Coinage Act of 1864, collectively known as the National Banking Acts.
The Machination of Fiat: War, Taxation, and the Rise of Unbacked Currency
The era spanning 1837 to the Civil War witnessed a decentralized approach to currency issuance and banking. However, the exigencies of war saw both the Union and Confederacy resorting to unbacked fiat currencies to fund their military endeavors. The Union introduced greenback fiat currency, while the Confederacy printed greybacks, divorcing their currency from the stability of gold and silver reserves.
Government Hypocrisy: A Tale of Double Standards
As the government accused private entities of counterfeiting, it turned a blind eye to its own dubious practices. Officials, with a straight face, alledged that a significant portion of fractional gold or silver coins was counterfeit, conveniently overlooking the fact that they mandated unbacked fiat currency to be legally on par with precious metals.
The Dubious Legal Tender Cases: Redefining Money to Satisfy Government Greed
The infamous “Legal Tender Cases” marked a watershed moment where the government successfully manipulated the definition of money. Citizens were now coerced to accept non-redeemable paper as equivalent to gold or silver coins, enabling the central government to profit illicitly.
From Counterfeit Combatants to Presidential Protectors: Secret Service Evolution
Initially tasked with combating private counterfeiters, the Secret Service expanded its mandate dramatically after the assassinations of Presidents Garfield and McKinley. The protection of U.S. presidents became an additional responsibility, turning the Secret Service into a formidable police force.
Congressional Conspiracy: Fifty Years Prior to the Federal Reserve Act
Long before the Federal Reserve Act of 1913, Congress set in motion a plan to dismantle the gold and silver standard, introduce fiat currency, promote fractional reserve banking, eliminate state and private banknotes, fortify the IRS, and birth the Secret Service. A grand scheme to manipulate the nation’s monetary system was underway.
The Panacea: A Return to Market Freedom
In the face of this monetary machination, the antidote emerges – a return to a free market for money. A system where gold and silver can compete alongside other forms of payment, sans the heavy hand of government coercion.
In this battleground of currencies, may the superior contender prevail.
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