Saturday , May 15 2021
Home / Mises Institute /Matt Gaetz/Marjorie Taylor Greene “America First Caucus” Denounces “Keynesians,” Promotes Gold, Bitcoin

Matt Gaetz/Marjorie Taylor Greene “America First Caucus” Denounces “Keynesians,” Promotes Gold, Bitcoin

Summary:
By: Tho Bishop On Friday, it was reported that a group of Republicans is forming an “America First Caucus,” with House members including Matt Gaetz, Marjorie Taylor Green, and Dr. Paul Gosar. While the corporate press instantly began hyperventilating over the group’s endorsement of “common respect for uniquely Anglo-Saxon political traditions,” overlooked has been some of the more interesting points in the group’s short manifesto. Predictably, the America First Caucus endorses Make America Great Again staples such as stronger border enforcement, election integrity, and repeal of Section 230 protections for Big Tech. Less typical is a section titled “Protecting the Value of American Savings.” The document correctly notes: Unfortunately, the strength of America’s monetary position has

Topics:
Mises Institute considers the following as important:

This could be interesting, too:

Mises Institute writes A Synthetic Anarcho-Capitalist Perspective on Public Goods

Mises Institute writes Vaccine Passports and Medical Paternalism

Mises Institute writes Vaccine Passports Are Just a Way for the Regime to Expand Its Power

Mises Institute writes America’s Corporate Thought Police

By: Tho Bishop

On Friday, it was reported that a group of Republicans is forming an “America First Caucus,” with House members including Matt Gaetz, Marjorie Taylor Green, and Dr. Paul Gosar. While the corporate press instantly began hyperventilating over the group’s endorsement of “common respect for uniquely Anglo-Saxon political traditions,” overlooked has been some of the more interesting points in the group’s short manifesto.

Predictably, the America First Caucus endorses Make America Great Again staples such as stronger border enforcement, election integrity, and repeal of Section 230 protections for Big Tech. Less typical is a section titled “Protecting the Value of American Savings.”

The document correctly notes:

Unfortunately, the strength of America’s monetary position has been under attack for decades by Keynesian economists domestically, and by globalist institutions looking to enhance China’s position on the global stage.

It then goes on to say,

We must protect the rights of Americans to best position themselves for a changing economy by promoting the development of cryptocurrency companies domestically, and defend the rights of Americans to hold private stores of wealth – including gold, silver, and other blockchain-based currencies like Bitcoin.

This language sounds similar to policy proposals promoted by Congressman Ron Paul to promote “parallel currencies” by eliminating the tax advantages currently held by federal reserve notes. The Free Competition in Currency Act was one of several legislative pushes by Dr. Paul to reign in the abuse of the Fed. As I noted in an article for the Daily Caller:

The bill is simple, it eliminates legal tender laws and taxes on metal historically used as currency – including gold and silver. It could also be updated to include crypto-currencies such as Bitcoin.

The beauty of this approach is that it would painless. Instead of trying to figure out the larger ramifications of abolishing the Fed, or risk forcing it to choose a rule that won’t hold up in the future, it would simply allow consumers the option to use alternative currencies in their daily lives. For those concerned about the long-term consequences of the Fed’s monetary policy, it provides a parachute – without forcing the Fed to change its course.

At a time where much of America is discussing the rising price of dogecoin, it is encouraging to see some of the most talked-about Republicans in Congress signal interest in alternatives to the dollar. Given the escalating political tensions in the breakdown of norms, the American right needs to recognize the dangers posed by a monetary and banking system controlled by your enemies.

It is in the interests of Republicans around the country to start asking the question, “what has the government done to our money?”

Powered by WPeMatico

Mises Institute
The Mises Institute, founded in 1982, teaches the scholarship of Austrian economics, freedom, and peace. The liberal intellectual tradition of Ludwig von Mises (1881-1973) and Murray N. Rothbard (1926-1995) guides us. Accordingly, we seek a profound and radical shift in the intellectual climate: away from statism and toward a private property order.

Leave a Reply

Your email address will not be published. Required fields are marked *