Glenn Beck – Inconvenient Debt

Glenn Beck – Inconvenient Debt

Glenn Beck has a video railing against printing of money by the US in epidemic proportions.  Beck shows a graph of total money in the system, but should also be showing a graph of CPI, or inflation as in this post:

http://mwiner.wordpress.com/2008/08/19/whats-wrong-with-the-economy/

This graph shows that the problem started back in 1913, not in 1971 as Beck describes.  Beck is however correct in asserting that it is a problem with the US withdrawing from the Gold Standard.  The US withdrew from the Gold Standard in 1933 domestically, and 1971 internationally.

Even before that, the Federal Reserve was able to manipulate (inflate) the currency to a limited degree from its inception in 1913.  It is the Fed which has and always will be the problem.  The Fed has never and will never be able to offer a solution.

For more information, please see:

http://mwiner.wordpress.com/2009/01/15/the-ancient-roots-of-injustice/

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