Thomas Edison stated that if the government can issue 30 million dollars in bonds it can issue 30 million dollars in bills. Doesn’t this prove that the money system is fraudulent and counterfeit?
Even if Edison said something like that, and although the observation certainly makes a good point, such a statement hardly proves the money system to be fraudulent. The message that is lost in such an observation is simply that money is a public utility. However, if the Fed was abolished and the U.S. Treasury issued paper currency instead of the Fed, such an action would solve only part of the money problem. Without proper controls (laws) such a transition would do nothing to stop currency inflation, or control Congress’s insatiable desire to continue plundering the people to buy votes. Yes, if the Treasury issued the currency instead of the Fed, we would all be taking a big step in the correct direction, but that is only part of the solution.
