from http://towneforcongress.com/:

"Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back."

- Josiah Stamp, former President of the Bank of England

On November 22, 2009 I delivered some remarks after a rally and march at the Federal Reserve Bank of Philadelphia.  Following my return from China, this was the first time I had the chance to speak publicly on the transition phase to sound money, and while there are plenty of FED critics, it is still rare to find solid ideas on how best to replace the FED, and furthermore, how such a transition be accomplished. Though stymied by government interventions in the short term, I believe the free market will win out in the long term.  For instance, there were probably over 100 people in the crowd I spoke to that possess physical gold and silver. The dollar-denominated prices of gold and silver continue to rise at blistering rates since 2001 as the collapse of the dollar and fiat currencies unfolds.

It is so very important to realize that what we are seeing is not so much the appreciation of gold and silver as it is the unmasking of the devaluation in the dollar by the central banks. My sincere thanks to the late Dr. Murray Rothbard where one day, while sitting in Shanghai skyscraper, a single mouseclick led me down the rabbit hole, and I began to start discovering the truth about the current dishonest monetary system.

"END THE FED.... Then What? - The Transition to Sound Money” is the title of my talk today, and it's a bit of an ambitious undertaking for a half an hour, but it's an important topic since all of us who gathered here to protest the Federal Reserve today need to also have a plan on how best to replace the FED and the fiat monetary system.  One note before I begin.  I openly acknowledge that my idea is at best a starting point, and I welcome a healthy debate on this topic.  I have given this particular topic quite a bit of research since first becoming aware that the dollar was not backed by gold about 2 years ago, and this past summer I attended Mises University, which is one of the very few places in the nation where one can study Austrian free market economics – the other two places being George Mason University in DC, and Grove City College in Pittsburgh.

In this talk I will first address what the goal is – as one must always begin with the end in mind. Then I will briefly discuss several transition ideas that are already present in literature, describe possible issues with each, and then spend the remainder of the time outlining my proposal.

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