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Libertarians Bite the Gold Dust

August 3, 2013

ronpaulbug.jpg(Left, Ron Paul advocates gold-backed currency. )

Libertarian popularity has plummeted
with the price of gold resulting
in a vacuum at the heart of
the "Truth Movement." New
monetary programs can fill the gap.

by Anthony Migchels

mises.pngIt's hard to think of a more pathetic example of auto-combustion as the visitor decline at Libertarian websites run by Gary North, Lew Rockwell and (chart left).

Few still believe that Gold will stop the bankers. Gold is deflationary, which would worsen an already grim scenario and does nothing to end usury. America itself is in the absolute worst of positions to go Gold because nobody has any, the Federal Reserve least of all.

Rand Paul recently suggested a Gold commission, but with his father gone, he is useless in the Truth Movement. The only person plugging him is Alex Jones, who was also instrumental in giving Ron 'Arabs did 9/11′ Paul a platform. But just about everybody has been distancing themselves from Alex Jones. In the last few months, many people called him out for different reasons. Jones is regularly being torched by his own feed-backers.

aynrandpaul.jpgRand Paul (left) looks increasingly ridiculous. The other day, hard-core Zionist Rand Paul was calling for war in Syria. Claiming Obama only wanted to fight Assad to a stalemate our man stated: 'I've told them I'm not sending my kids or your kids or any American soldiers to fight for stalemate. When we fight, we fight to win, we fight for American principles, we fight for the American flag and we come home after we win.'


Austrianism always has been the Money Power's tool to subvert American Populism. Ed Griffin's 'the Creature of Jekyll Island' is the perfect example of how they steamroll any platform for monetary reform by confusing the uninitiated. With the decline of Gold buggery, we see a vacuum right at the heart of the Truth Movement.

The international implications of this trend are hard to fathom.  Austrianism fits well with the rise of the Gold backed Yuan. The Euro also was designed to be backed by Gold. Ron Paul never intended to win the elections and Lew Rockwell, right after Paul's legendary backstabbing, claimed he was only there to educate the masses on the wonders of Austrian Economics. So it's not too clear if tPtB want a Gold Standard for America, or perhaps he was just too early.

The Truth Movement is the natural heir of the great American Populists who have fought for plentiful money since the Civil War. But what is the Truth Movement? The great thing is: nobody knows. It's one big mess and everybody associated with it has his or her own particular perspective.

But there does seem to be a certain loose consensus. 9/11 Truth of course. The idea that the world is run by some bankers (Rothschild & Co), that they are trying to establish World Government and that they use wars to create the chaos they need to get there. It despises Zionism and Imperialism. It is more spiritual than religious.

Bankers have bought the entire world by offering bookkeeping services and slapping usury on those with debit accounts. This is called banking and it's the mother of all hoaxes. It's the kernel of the New World Order. They have brought all nations and governments to their knees and chained us to interest-slavery. Money is the only commodity that mankind can create in infinite amounts with the stroke of a pen.

If the results had not been so harmful for untold billions of people, it would have been funny.


The answer is clear: we desperately need monetary reform. With the Gold meme in decline, more serious proposals are finding a platform. There is the American Monetary Institute run by Zarlenga. They managed to get Kucinich on board, who launched HR2990 in Congress. Shortly thereafter he lost his seat, but this was quite a feat nonetheless.

There are the Hamiltonians/Larouchians, for instance with their the United Front Against Austerity. Ellen Brown's Public Banking is also heavily influenced by Hamiltonian thinking.

These proposals certainly are very American and would go a long way. They would end the depression and interest payments by the State.

But they do not solve interest-slavery for the common man. He would still have to go to a bank to pay $300k interest on a $200k mortgage. These proposals also tend to centralize power in Washington and personally I'd like to see more decentralization to the States, cities and towns.

There are also the interest-free crediters. Mathematically Perfected Economy is one example. Hour Money another. Thomas Greco (Reinventing  is big on Mutual Credit clearing. These proposals all demonstrate a principled stance against Usury, which is absolutely key.

There are also the Europeans, people like Margrit Kennedy and Bernard Lietaer, who are strongly anti-usury, anti hoarding (of money) and promote regional/complementary currencies.

There are also the proposals that I would loosely categorize as 'Chicago Plan'. The AMI is quite close to it. Bill Still has been offering solutions in that direction. Positive Money comes to mind. A weakness of these proposals is full-reserve banking.

And let's not forget Social Credit, which remains a force.


With Austrianism facing decimation, a united Monetary Reform platform seems more possible than ever.

Sound money is

1. Interest-Free
2. Stable, no boom/bust cycle, which is a result of tampering with the volume of money
3. Decentralized in the sense that local communities and economies have access to cheap credit

The current proposals show great promise but the finishing touch is lacking. We need a wide scale debate. This will enhance both the proposals and the public interest and understanding.

Banking is One and those that own it are the Money Power. As Michael Hoffman put it: 'If there is a greater evil than the Money Power, than the Bible is lying......To say that the Money Power is at the very top of the evils that we need to work against basically overwhelms people. They want something else to fight.......Freedom from interest on money, is essentially the battle for freedom from the Money Power......We reject the weaponization of the love of money as it is represented by interest on loans of money!!'

This is, and remains, the challenge for both the Truth Movement and the Human Race.

Anthony Migchels is an Interest-Free Currency activist and founder of the Gelre, the first Regional Currency in the Netherlands. You can read all of his articles on his blog Real Currencies

Babylon = Usury! We want Interest-Free Money!

Meet the Real Deal: Michael Hoffman on 'Usury in Christendom'
Forget about Full Reserve Banking

Scruples - the game of moral dillemas

Comments for "Libertarians Bite the Gold Dust"

BM said (August 5, 2013):

Another solid article from Anthony Migchels. It's good to see the goldbugs on the run, as gold has been a Rothschild/Oppenheimer monopolized, manipulated commodity that has been serving the interests of the elitists, not the people.

It's certainly not the case that all proposed alternative monetary systems are equal. Your reader Robert is right that social credit was "specifically designed for modern conditions": the system proposed by Douglas (an engineer) was specifically designed to facilitate a more harmonious, leisurely society, rather than a debt-fueled, war-stoking rat race. Eastman has done a great job of updating the Douglas model and exposing the Two-Loop treachery that the financial class has been using to store captured monetary energy offshore, collapse the domestic economy, then buy back working families' foreclosed assets on the cheap. Here's a good recent overview:

Readers can find related articles (on usury, libertarian fallacies, LaRouchonomics...) in the Monetary Reform archives here:

Tony B said (August 5, 2013):

Henry, the gross ignorance shown by the commentators opposed to Anthony and his true understanding of money is appalling beyond thought. Mostly it is just sour grapes but ignorant sour grapes. At least one of them can not possibly conceive of money being created as anything but loaned debt. Not having a clue that government can create it and SPEND or GIVE it into circulation at practically no real cost shows that he has never heard of greenbacks, or at least has no understanding whatever of what they were and how they worked.

The criminal bankers have done their propaganda work well, both through their own offices and those of their creation, the so-called "Austrian School." Libertarianism, as most of these people obviously are caught up in, is based on the worst possible kind of capitalist greed. Ayn Rand ring any bells? I doubt if any of them has ever heard of free enterprise, or if so, just as mentioned, they haven't the faintest concept of what it actually is, most likely following the John Birch lie of calling it just a synonym for capitalism.

What a sad world.

Abe said (August 4, 2013):

I always enjoy Mr Migchels offerings and it is clear that this latest article really struck a nerve. I would like to voice my support for
his following 3 observations:

1. People like Alex Jones and Glenn Beck are frauds who make money selling gold advertisements and the conspiracies used keep market volume preserved during down trends. Bron Sucheki who workd for the Perth Mint in Australia, one of the world's leading gold producers explains the reality of the gold market here:

and here:

Also, if there was a "price supression scheme" then why make it easier to take physical delivery? And why would the Rothschild allied central banks holding most metals want low prices?

2. Rand Paul is most definitely a zionist and if the sheeple around here won't take Mr Migchel's or my own word for it then maybe they
should see first hand the kind of praise that one of the highest trafficked neocon blogs in America have heaped on Rand Paul:

3. Ed Griffin is definitely a fraud and his Jekyll Island book is a poor ripoff of Eustace Mullins work: The Secrets of the Federal

I would also like to respond to some of the commenters:
Steven and John Kunkle would do well to read the links above about the nature of the metals market. I would point out to Tony B that a
national currency is not mutually exclusive to regional money.

Regional money can and should take the form of production-backed, industry specific trade notes and locally governed credit union associations could operate in much the same way that credit unions presently do, only without having to compete with federally subsidized competitors at the national and global level. It would create a fairer and more level playing field in which local depositors and banks could generate wealth locally. This should be tried in Detroit instead of forcing the choice between a pension-robbing default and a tax-payer soaking federal bailout.

I would remind Bill that Austrian economics
deserves no respect and that Mr Makow's blog, which he evidently reads, has more than a few articles detailing the evils of this
ideology. Finally, I would respond to Robert that "free" loans are possible and don't need usury, the threat of being cut off from future
credit distribution is more than incentive enough to repay and any honest default resulting from legitimate business failings is ALREADY
dischargeable under current chapter 11 US bankruptcy laws.

The tampering and corruption that we all rationally fear can also be avoided with the existence of PUBLIC record keeping. I know it sounds too easy, but it really is that simple. Daylight is the best disinfectant and honesty is the answer. It is secrecy and ignorance
alone that allow for the current state of affairs, not any metaphysical powers possessed by the kabbalists in the banking sector
- which isn't to deny their satanic nature.

Robert said (August 4, 2013):

Migchels writes that "Sound money is (1)Interest-Free, (2) Stable, no boom/bust cycle, which is a result of tampering with the volume of money, (3) Decentralized in the sense that local communities and economies have access to cheap credit"

(1) I don't see how it is realistic to expect that there will never be a cost attached to the borrowing of money; does he consider that even an administration fee constitutes "interest"?

(2) Is "tampering with the volume of money" to be forbidden regardless of, say, growth in the economy?

(3) If money is issuing from a centralized source (presumably governmental), what is the mechanism that will ensure its continued availability locally against the temptation of controllers to abuse their power?

He mentions Social Credit practically as an afterthought. It incorporates the only set of proposals that was specifically designed for modern economic conditions, in which automated and robotized production is generating a veritable torrent of production, in which the human component (as a source of consumer income) is plummeting.

Bill said (August 4, 2013):

Anthony Migchels continues to disrespect Austrian economics, Capitalism and the Truth Movement as he embraces Social Credit and Socialism. What I don't understand is why you, a gifted leader in the Truth Movement, would promote his ideas. He says no one knows what (truth) is and the movement is just a big mess. Seriously? He disrespects Ron Paul and Rand Paul, calling Rand a "hard-core Zionist." Granted, Rand is not his father, but where is the evidence to support such a slanderous claim?

Regarding Migchel's war against loaning money at interest, which he labels "usury and the weaponization of the love of money" who would ever risk their capital without a promise of profit? I agree with the problem of so-called bankers being allowed to counterfeit money and lend it out at interest. But that is a separate issue which can be solved without attacking free market Capitalism. Saving money has now been demonized as "hoarding." Social responsibility is emphasized over individual responsibility.

John Kunkle is right. Anthony Migchels is a leftist liar. Please do a proper expose on him...

JV said (August 3, 2013):

Migchels makes the case correctly that thinking 'gold' hoarding will protect you is an illusion, but, even if not an illusion, it is a selfish response to a problem that requires a broad social responsibility response; that is, hoarding gold will not solve the underlying problem for the rest of humanity.

In this the author exposes the underlying selfishness, having learned nothing from history, of the Libertarian folks who simply represent a new brand of 'American exceptionalism'.

The only answer to the 'Federal Reserve' is some form of 'Social Credit'. Go figure, some sites call any form of 'social credit' 'anti-semitic'....

Where does that come from? and who would say so for what reasons?

Steven said (August 3, 2013):

There is indeed much misunderstanding on the part of the public concerning the precious metals , their price and their role in the monetary system.

First of all the electronic and paper currencies in the world are not backed by gold or silver or made from them nor is the supply of currency regulated by the government supplies of precious metals if any. The official currencies are merely monetary statistics based on debt and nothing more.

Secondly at this time the prices of the precious metals exist in terms of magnitude or the lack there of at the discretion of financial institutions and through their trading mechanisms the market prices are determined. Physical owners and producers at this time have no say over the market price of their product or asset. In theory the banks could decide that the price of gold is zero and at the same time have the greatest hyperinflation of all time and all with the blessing of government. There really is no gold or silver market. Only a closed shop manipulating the price to suit their agenda.

Thirdly we have the question is there a relationship between money supply, GWP or global financial assets and the price of gold or silver?
The correct answer is absolutely no way in hell! Again the prices of the precious metals is a politically correct fiction that is dirt cheap in real terms. The precious metals are demonised in order to protect a monetary crime in progress and keep the masses interested in supporting the official currency that is easily created and has no value in and of itself. It is all an official mind game to keep you in the game.

If you like fraud and other crimes then by all means keep the governments and bankers around and in business. If you like honest real gold and silver coin with high buying power then the criminal banks, governments and their fiat currencies have got to go to the dust bin of history. There really isn't any middle ground.

John Kunkle said (August 3, 2013):

In response to Anthony Migchels article: The price of Gold and Silver has been manipulated down by short selling on the part of the big banks led by JP Morgan Chase. While the number of physical ounces of gold and silver have been purchased in dramatically greater and greater quantities each month for the past year, the number of contracts for real gold and silver is only one per cent of the number of paper contacts transacted for gold and silver. There has been massive short selling of these contracts, and the reason the price is inching lower and lower is because this is the only way the short sellers can unload their contracts. To ignore this manipulation in the market leads to a fundamental misunderstanding of the market place. This is not a freely operating market.

However, this manipulation can only be done for so long until economic reality forces itself upon the manipulators. The real purpose of driving the price of gold and silver down is to allow central banks to accumulate it as inexpensively as they can. Make no mistake about it, the world is going back to asset based banking as the fiat money experiment has dramatically failed. It will not be just gold and silver. It will include the natural resources of the country, such as oil reserves and other natural resources, in addition to precious metals, minus debt, in establishing a value for each country's new currency. This may take place as soon as September 2013.

The real problem is that the US dollar is the reserve currency of the world. There are a lot of US dollars in foreign hands. With a new currency alignment, the US dollar will be devalued in a three stage process: 20% at first, followed by another 20% a little later, and then a third 20% devaluation, in order to bring it in line with the value of other currencies. The foreigners holding US dollars do not want a 60% devaluation of the US dollars they hold. So how this process is going to be reconciled is a bit dicey at the moment. One suggestion is a world US dollar that is not devaluated and another internal US dollar which is devalued.

Obviously the cabal is doing everything they can to put off the day of reckoning as long as they can. But the other countries of the world have shut off the valve of money going to support the US dollar and that is why the result is inevitable. Yet the cabal is trying to incite wars in Syria and other places in order to avoid this from happening.

In short, when both shoes hit the floor, the price of gold and silver will shoot up to its proper level -- probably $500 per ounce for silver and $10,000 per ounce for gold. Austrian economics will win out in the long run, as manipulations of the market can only take place for so long before the cost and the ability to manipulate it becomes impossible to maintain.

Tony B said (August 3, 2013):

Anthony, as you are aware, the only real difference in our thinking is that I insist that a nation's money must be one, controlled by the government, as, to me, that is the only way to actually control the volume in circulation. But I understand your argument that I'm too idealistic and government will never be allowed to do it properly. Maybe, unless there is real revolution with a fresh start. Therefore I am not against your concept of regional moneys as a temporary salvation for the people at large. You are in the front of the rest of the pack and I appreciate all your efforts very much.

Unfortunately, I neglect your website - getting old and slow - but I habitually monitor Henry's. This latest article of yours there posted is so clear that it would be ludicrous for the enemies of real money to try to refute it.

Thank you wholeheartedly for this. I'll send it around to my few readers, some of whom need to get a clue as to the real war going on in the world, politics being very secondary as it is wholly directed by its financial owners, the criminal money creators.

Henry Makow received his Ph.D. in English Literature from the University of Toronto in 1982. He welcomes your comments at