Thwarting The Wickedness
United States Federal Reserve Board Building
(Photo by AgnosticPreachersKid) (CC BY-SA) (Resized/Cropped)
While Presidents Harding and Coolidge thwarted the wickedness of the Wilson administration for a period – during a time of robust growth and prosperity in American history – the disease had already infected the original economic Intent. What began to emerge under the Wilson administration, the Administrative State, was a fatal flaw that carries through to the present.
“The new mark of success in central banking,” as economist James Grant discloses, “was no longer a currency fully convertible into gold at a fixed and statutory rate. It was stable prices and lots of jobs.”[1] This rhetoric was picked up by Presidents Hoover and FDR, and has continually carried forward to the very present under all administrations since, save perhaps Ronald Reagan. Jobs and income.
The purpose of any civil government is to protect the liberty of its citizens; its sovereign beings, the Children of God. Period! Not to take, give, decide, force equity, or determine fairness. A government of such nature, a nature of wickedness (see Federalist 51), has abandoned the Compact and must be abolished.
Since the federal government is bound to the unalienable rights proclaimed in the Declaration of Independence, in this specific case, property, there can be no alternative except the abolishment of the Federal Reserve central bank.
The government, under Natural Law, is obligated to protect the property of the citizens. Perhaps historian Tom Woods described it best when he disparaged the Fed by stating that, “The Fed is the lifeblood of the empire, the great enabler of the perversion of the original American republic,” and in regards to the relationship between the federal government and the Federal Reserve, “If the federal government is an addict, then the Federal Reserve is its enabler.” [2]
[1] James Grant, 2014, The Forgotten Depression: 1921, The Crash that Cured Itself, (New York, NY: Simon & Schuster), p. 111.
[2] Thomas E. Woods, Jr., 2014, Real Dissent: A Libertarian Sets Fire to the Index Card of Allowable Opinion, (CreateSpace Independent Publishing Platform), p. 189 and p. 185, respectively.
Originally published on Townhall Finance.
Jim Huntzinger began his career as a manufacturing engineer with Aisin Seiki (a Toyota Group company and manufacturer of automotive components) when they transplanted to North America to support Toyota. Over his career he has also researched at length the evolution of manufacturing in the United States with an emphasis on lean’s influence and development. In addition to his research on TWI, he has extensively researched the history of Ford’s Highland Park plant and its direct tie to Toyota’s business model and methods of operation.
Huntzinger is the President and Founder of Lean Frontiers and a graduate from Purdue University with a B.S. in Mechanical Engineering Technology and received a M.S. in Engineering Management from the Milwaukee School of Engineering. He authored the book, Lean Cost Management: Accounting for Lean by Establishing Flow, was a contributing author to Lean Accounting: Best Practices for Sustainable Integration.
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