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• Stiglitz: Federal Reserve System Is Corrupt (seekingalpha.com)

“The Federal Reserve has destroyed the value of our dollar. Its boom and bust cycle must be replaced by savings, wise investment and honest money. Few have done more to establish an alternative and further the cause of honest money than the American Open Currency Standard,” says Kokesh. “They provide a useful set of tools for individuals across the country to rebuild local economic wealth and put the control of real money back where it belongs: in the hands of the people.”

Today the AOCS unveils its latest complementary currency line, dubbed “Candidate Currency”, paying tribute to public office seekers that walk the walk. According to American Open Currency Standard Executive Director Rob Gray, the line will feature “…candidates who put their money where their mouth is. We believe future Congressman Kokesh is the perfect candidate to launch this series and we’re proud to support his campaign.”

The Kokesh for Congress medallion is an ounce of .999 fine silver, struck in brilliant proof-like collector’s grade mirror finish. The obverse features meticulously sculpted original artwork of Kokesh and Lady Liberty sharing the call to a revolution. The limited edition medallion is exclusively available as a “token of appreciation” to campaign donors that contribute $50 and use the promo code “AOCS” through the campaign website at www.kokeshforcongress.com. Multiple qualifying donations receive multiple medallions.

Though the Kokesh for Congress medallion is a timeless classic for collectors across the globe, it doubles as an AOCS Approved private voluntary barter currency that can be used like a gift certificate of equal value within the rapidly growing network of merchants across the country, who actively trade goods and services for honest money.

“We earnestly await Adam’s successful bid for office; but while elections and candidates will come and go, you have the opportunity every day to vote with your wallet,” says Gray. “Make a donation today to help send a statesman and ardent supporter of Ron Paul’s “Audit the Fed” to work for you in D.C.”

Contact:

Andrew Sharp

Communications Director

www.KokeshforCongress.com

andrew@kokeshforcongress.com

505.470.1917

The Atlas Economic Research Foundation is proud to sponsor an essay contest for students, young faculty, and policy writers, who are concerned about the cause of Sound Money.

Prizes:

• The overall winner of the Essay Contest will receive a cash prize of $5000.
• Two additional prizes of $1000 each will be given to outstanding essays written by junior faculty, graduate students, or policy writers.
• Three additional prizes of $500 each will be given to outstanding essays written by undergraduate students.

Deadline:  November 24, 2009

Essay Topics:

• “Money and the Free Society: Can Money Exist Outside of the State?”
• “The Ethical Implications of Monetary Manipulation”
• “Monetary Policy and the Rule of Law in the United States”

Description:

In an effort to reduce the chances that the U.S. population will again suffer the consequences of the boom and bust policies promoted by the bureaucracy controlling monetary policy, Atlas has launched a new Sound Money Project.

An enlightened citizenship, aware of the immorality of the state manipulating money and credit, is the most secure barrier against the arbitrary destruction of savings and misallocation of investments.   It is to this end that Atlas is holding an essay contest in order to raise awareness and promote knowledge about sound money, and to identify young talents whose keen understanding of this subject will, hopefully, steer the direction of monetary policy toward sound free-market principles.

Participants in the essay contest must address one of the Essay Topics listed above (or a combination of them).   Please consult Atlas’s Sound Money Resource Page for a list of reference materials, which can be useful for the preparation of your essay.   Please read all of this page, including the sections on Eligibility and Essay Guidelines, before submitting your paper.

Eligibility

To be eligible to win a prize within the Sound Money Essay Contest, you must be a legal resident of the U.S. or engaged as a full-time student in the U.S.    You must also be no more than 35 years old on the date of the contest deadline (November 24, 2009).   Atlas welcomes involvement of older and non-U.S. scholars in its discussions and ongoing work on Sound Money, but this Essay Contest is targeted to the audience described above.

Essay Guidelines:

• Essays must be written in English
• Must have a cover page with the essay’s title and the name of the author.  The pages of the itself must not display the name of the author.
• Essay must be at least 1500 words but no more than 8000 words.
• Essay must be an original work written by the submitter and must not have been previously published elsewhere.
• Atlas prefers a writing style which is accessible to the educated laymen, but rigorous enough as to be used in college and university courses.
• Atlas prefers well-researched papers with references and footnotes that back up assertions, but we note that our judges are not looking for the paper with the most footnotes.
• Winning essays will become the property of Atlas and may be published in print or electronically.

Judging Criteria:

Contestants’ essays will be judged on the basis of clarity of writing, quality of thought, and the extent to which they recognize or incorporate one or more relevant ideas suggested by the supporting books and articles, mentioned on our Atlas’s Sound Money Resource Page.  You do not have to agree with the ideas in the supporting material (and you do not have to read all the books and articles that are mentioned), but the judges are looking for thoughtful essays that reveal that the writer has considered the benefits of free economies.

Submitting Your Essay:

Email your completed essay, in Word or WordPerfect, as an attachment to SoundMoneyProject2009@AtlasNetwork.org on or before November 24, 2009.   In your email, you must include your name, mailing address, and the think tank, university or school that you wish to list as affiliation.

If you have any questions about the contest, or feedback about our larger work on Sound Money, please contact Priscilla Tacujan at SoundMoneyProject2009@AtlasNetwork.org.

“Governments have the right to print money, and their regulation, have always manipulated. The decline of confidence in the dollar, not to mention the other currencies, creating the likelihood of occurrence of gold equivalent, or” digital gold, which always can be exchanged for real gold, “- said in an interview with Style.

Russia and China, and after them, and several other countries this year put forward the idea of switching to the way the International Monetary Fund – Special drawing rights (SDRs) – instead of dollar.

SDRs are used to regulate the balance of payments linked to the cost of a basket of the course of the four major currencies: U.S. Dollar, Euro, Japanese yen and British pound sterling.

“Any transition to the new monetary system will be accompanied by a very painful process, including crises and social upheaval. Therefore, the move away from the dollar to a basket of four currencies, which, in essence, is also a printed paper, has no rational grain – believed Style. – Calls upon the Government of China to introduce special drawing rights, but is it possible to imagine that the Chinese farmer wants to save money in obscure SDR, which counts some of the IMF headquarters in Washington? “.

This devaluation gold, he does not expect as when using the highest technology and the concentration of resources in gold, an increase of gold reserves on a global scale can not exceed 6% per year, says Style.

Experts estimate that the national reserves,including international financial institutions, in 2005 there were approximately 31 thousand tons of gold.

“Virtual gold” to challenge the U.S. dollar against the will of governments, especially the U.S. administration, which at the legislative level will behinder the expansion of its turnover. However, care will be supported in the gold markets and private investors, says expert.

The appearance of “gold banks” to lend and are gold deposits in terms he described as still narrow, but very dynamic niche market.

Style skeptical about the possibility of new reserve currencies, or the replacement of the dollar to the euro, because Europe can not be varied to carry out a coherent policy for global economy its currency through inflation budget deficit, as do the United States.

The crisis also exposed the vulnerability of the Russian ruble, weakening its application to the role of a global exchange of peace, says expert. “The Russian ruble has been a typical commodity currency rate which is directly dependent on oil and gas prices. I think the crisis has hit the ambitions of the ruble, claim a place among the leading world currencies at the peak in oil prices. ”

The fate of the dollar is vulnerable only to political factors,namely, if China stops buying U.S. bonds and start dumping them, thus initiating a trend globally. China, for him, buys 30% of all U.S. Treasury bonds that, given the almost zero return, he called”free credit United States.”

However, starting dumping bonds, China to devalue its own assets, “- said the expert.

In the foreign exchange reserves of China is 1.5 trillion dollars.

“The only safe way to alleviate monozavisimost from U.S. to China – is to accumulate gold, no implications for the dollar to the euro. I will not be surprised if China begins to rapidly accumulate their gold reserves, “- said Style.

The tendency to a weakening of the dollar will be increase in the world, says an expert. However, the transition to the “virtual gold” as a major world currency he called the possible scenario if the MOF did not demonstrate the United States more responsible approach and not be able to restore confidence to the dollar.

“Investing in gold can be lucrative, especially if you believe that everything else in the world will collapse”, – considers Style.

Sources: http://investfunds.com.ua/ via http://realt5000.com.ua/news/723073/?lng=en

The goal of this project is to highlight the need to pass Congressman Ron Paul’s recently reintroduced House Resolution 833 – a bill to abolish the Federal Reserve.

We wish to emphasize the need for sound money – backed by gold and or silver.

All supporters should remove all cash except $17.76 from any bank and withdraw maximum allowable funds from any money market accounts on that day.

We seek an “electronic run on the banks” in addition to traditional “bank runs.” Over time, we hope to build these events in order to topple the effectiveness of the Federal Reserve.

We are also asking all supporters to join as a precinct leader ($35) at www.campaignforliberty.com/signup.php on April 17th.

God Bless America.