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It is with a heavy heart that we have decided to retire our beloved Forum Detroit. It has served the Polonia Detroit for over 10 years, and was a source of joy for many. However, after many months of inactivity, the time has come to bid it farewell.
Deepest and warmest thanks to all those who contributed to Forum discussions over the years, either by sharing their thoughts or reading those of others. Your presence and participation served as a building block of this online polish community.
After 100 Years Of Failure, It’s Time To End The Fed!
A week from now, the Federal Reserve System will celebrate the 100th anniversary of its founding. Resulting from secret negotiations between bankers and politicians at Jekyll Island, the Fed's creation established a banking cartel and a board of government overseers that has grown ever stronger through the years. One would think this anniversary would elicit some sort of public recognition of the Fed’s growth from a quasi-agent of the Treasury Department intended to provide an elastic currency, to a de facto independent institution that has taken complete control of the economy through its central monetary planning. But just like the Fed's creation, its 100th anniversary may come and go with only a few passing mentions.
Like many other horrible and unconstitutional pieces of legislation, the bill which created the Fed, the Federal Reserve Act, was passed under great pressure on December 23, 1913, in the waning moments before Congress recessed for Christmas with many Members already absent from those final votes. This underhanded method of pressuring Congress with such a deadline to pass the Federal Reserve Act would provide a foreshadowing of the Fed's insidious effects on the US economy—with actions performed without transparency.
Ostensibly formed with the goal of preventing financial crises such as the Panic of 1907, the Fed has become increasingly powerful over the years. Rather than preventing financial crises, however, the Fed has constantly caused new ones. Barely a few years after its inception, the Fed's inflationary monetary policy to help fund World War I led to the Depression of 1920. After the economy bounced back from that episode, a further injection of easy money and credit by the Fed led to the Roaring Twenties and to the Great Depression, the worst economic crisis in American history.
But even though the Fed continued to make the same mistakes over and over again, no one in Washington ever questioned the wisdom of having a central bank. Instead, after each episode the Fed was given more and more power over the economy. Even though the Fed had brought about the stagflation of the 1970s, Congress decided to formally task the Federal Reserve in 1978 with maintaining full employment and stable prices, combined with constantly adding horrendously harmful regulations. Talk about putting the inmates in charge of the asylum!
Now we are reaping the noxious effects of a century of loose monetary policy, as our economy remains mired in mediocrity and utterly dependent on a stream of easy money from the central bank. A century ago, politicians failed to understand that the financial panics of the 19th century were caused by collusion between government and the banking sector. The government's growing monopoly on money creation, high barriers to entry into banking to protect politically favored incumbents, and favored treatment for government debt combined to create a rickety, panic-prone banking system. Had legislators known then what we know now, we could hope that they never would have established the Federal Reserve System.
Today, however, we do know better. We know that the Federal Reserve continues to strengthen the collusion between banks and politicians. We know that the Fed's inflationary monetary policy continues to reap profits for Wall Street while impoverishing Main Street. And we know that the current monetary regime is teetering on a precipice. One hundred years is long enough. End the Fed.
Last week’s tragic shootings in Canada and Washington state are certain to lead to new calls for gun control. The media-generated fear over “lone wolf terrorists” will enable the gun control lobby to smear Second Amendment supporters as “pro-terrorist.” Marketing gun control as an anti-terrorist measure will also enable gun control supporters to ally with those who support any infringement on liberty done in the name of “homeland security.”
As with most infringements on liberty, gun control will not only make us less free, it will make us less safe. Respecting the right of the people to keep and bear arms is the original and best homeland security policy. Restricting the right of people to arm themselves leaves them with no effective defense against violent criminals or a tyrannical government.
Every year, thousands of Americans use firearms to stop violent criminals. One notable example occurred in September, when Oklahoman Mark Vaughan used a rifle to stop a knife-wielding co-worker who had already killed one person and wounded another. Unfortunately, most of the media coverage focused on speculation that the assailant was motivated by “radical Islam” rather than on Vaughan’s use of a firearm to protect innocent lives.
It is no coincidence that states that pass “concealed carry” laws experience a drop in crime. Since passing concealed carry in Texas in 1995, murder in the state has declined by 52 percent. In comparison, the national murder rate declined by only 33 percent.
Perhaps the best illustration of the dangers of gun control is federal regulations forbidding pilots from having guns in their cockpits. Ironically, this rule went into effect shortly before September 11, 2001. If pilots had the ability to carry guns on 9/11, the hijackers may well have been stopped from attacking the World Trade Center and Pentagon or persuaded to not even try.
Shortly after 9/11, I introduced legislation allowing pilots to carry firearms in the cockpits. Congress eventually passed a bill allowing pilots to carry firearms if they obtain federal certification and obey federal regulations. Aside from the philosophical objection that no one should have to ask government permission before exercising a right, the rules and expensive approval process discourage many pilots from participating in the armed pilots program.
It should not be surprising that the anti-gun Obama Administration wants to eliminate the armed pilots program. I actually agree that the program should be eliminated, so long as pilots who can legally carry a firearm in their states of residence can carry a firearm on the planes they fly. Allowing pilots to carry guns is certainly a more effective way of protecting our security than forcing all airline passengers to endure the TSA.
Both gun control and foreign interventionism disregard the wisdom of the country’s founders.
An interventionist foreign policy, like gun control, threatens our safety. A hyper-interventionist foreign policy invites blowback from those who resent our government meddling in their countries while gun control leaves people defenseless against violent criminals. Returning to a foreign policy of peace and free trade and repealing all federal infringements on the Second Amendment will help guarantee both liberty and security.