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Ayn RandOn the July 8, 2012 episode of Exposing Faux Capitalism with Jason Erb, George Whitehurst-Berry, former host of GCN’s “Crash! Are You Ready?,” identified several misleading points that he labelled disinfo, which were made in the following passage from Ayn Rand’s Atlas Shrugged (starting at 49:50):

Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into an arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day it bounces, marked: ‘Account overdrawn.”

Ayn Rand:
– Failed to distinguish between debt money and sovereign, debt-free money.
– Claimed gold has an objective value, despite its value changing, like when Roosevelt’s Executive Order in 1933 seized gold at $20.67 USD an ounce, only for Congress to later increase its value to $35 an ounce.
– Falsely associated paper money with force, which doesn’t include local, voluntary currencies.
– Falsely identified debt-based paper money as a demand instrument — it’s a promise to pay.
– Failed to distinguish between privately issued debt-free money by individuals, and debt-based money by banks.

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Gary North speaking at the Mises Institute aft...Gary North, in attacking Ellen Brown for her support of government-issued credit, has repeatedly referred to her as a “Greenbacker.”

He states, without reference, that she is “a Greenbacker by confession.

It’s ironic that North got on his high horse and claimed to have discredited her book, Web of Debt, by pointing to errors in it, yet failed to do research into his own bogus claim that she is a Greenbacker.

The Greenback movement refers to those who supported the issuance of interest-free paper money at the federal level during the Civil War era and in the subsequent years of the late 19th century.

Had North done even the most basic amount of research — which he claims Brown failed to do regarding some of her claims — he would’ve come across her proposal (on page 455) for:

A bill to update the Constitutional provision that “Congress shall have the power to coin money” so that it reads, “Congress shall have the power to create the national currency in all its forms, including not only coins and paper dollars but the nation’s credit issued as commercial loans.”

Calling for a constitutional amendment to make Greenbacks constitutional means that Ellen Brown is not a Greenbacker, since she is saying that the Greenbacks that were issued at the time were unconstitutional, and would be unconstitutional if issued today, until an amendment is passed.

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