Exposing Faux Capitalism

The Huffington Post published an October 8, 2012 article by Bonnie Kavoussi entitled “11 Lies About the Federal Reserve,” to which Mises Institute associate Tom Woods followed up with a rebuttal entitled “HuffPo’s 11 Myths About the Fed, Refuted.”

For those who are aware of the Hegelian dialectic of thesis-antithesis-synthesis, the Huffington Post is putting out the thesis in opposing a government-guaranteed gold standard and Tom Woods is putting out the antithesis of defending a government-guaranteed gold standard, and the synthesis that is presented by Tom Woods in his other works is that of a so-called free market gold standard of competing currencies.

For more on why a so-called free market gold standard is a false solution, see my article, Gary North’s free market gold standard is also a fool’s gold standard.

Whether Tom Woods realizes it or not, he has played right into the hands of the Money Power in presenting the case for a gold standard, whether it be a government-guaranteed gold standard or a so-called free market gold standard — the Money Power ultimately cares not — since they control the proposed medium of exchange, as George Whitehurst-Berry details in this article.