Washington also spoke of the evils of unbacked paper currency.

In a 1786 letter to Thomas Jefferson, Washington wrote, “Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”

And in a 1787 letter to Jabez Bowen, Washington stated, “If in the pursuit of the means we should unfortunately stumble again on unfunded paper money or any similar species of fraud, we shall assuredly give a fatal stab to our national credit in its infancy. Paper money will invariably operate in the body of politics as spirit liquors on the human body.”

George Washington would undoubtedly be horrified by the economic and political power wielded today by the currency-creating cartel known as the Federal Reserve.

The Fed has rendered our financial markets entirely dependent on fiat currency infusions by the trillions. And it has enabled our electe ... Read more »