Dr. Larry Parks - Air date: 12-06-07





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Published on Dec 1, 2007

Dr. Larry Parks Ph.D
A handful of committed individuals continue to fight the fiat-money plague. Chief among them is Dr. Lawrence Parks, the Executive Director of the Foundation for the Advancement of Monetary Education (FAME) - and a leading proponent of honest-money economics. Larry's main focus for much of his adult life has been a campaign to educate folks about the benefits of returning the United States, and ultimately the rest of the world, to an honest monetary standard. He is a frequent speaker on what he calls "The Fight for Honest Monetary Weights and Measures." He has made presentations to unions and other professional groups that might not be seen as sympathetic to the cause of honest-money, and he is the author of What Does Mr. Greenspan Really Think?, an easy-to-read book about how our monetary system works to the disadvantage of ordinary people. "Our present fiat monetary system operates to destroy savings, pensions and jobs," he says. "We know what to do about it." Larry has studied the money issue for more than 30 years. His writings have appeared in Pensions & Investments, The Economist, The Washington Times, The Freeman, The Free Market, American Outlook, The United States Congressional Record, National Review, and others. He has broad experience in academia, in business, and in finance. He holds a Ph.D. in Operations Research from the Polytechnic University. Additionally, he is an active member of many civic and social organizations including The United Association for Labor Education, The National Writer's Union, UAW 1981, AFL-CIO. Larry knows that fiat money destroys savings and harms one's ability to provide for one's future. He is fighting a courageous battle to remind people that there are alternatives to our current dishonest financial structure. His hope is that people begin to implement an honest monetary system before our fiat-money regime collapses. Only 100 years ago, the world thrived on a so-called "gold standard" in which gold pieces (coins) were exchanged worldwide for goods and services. Today, the world operates on a "fiat money" or "paper" standard. What happened to the gold standard and why does it matter? During the last 100 years, as a byproduct of national and international coercion, misrepresentation, and non-disclosure of material information, gold was "demonetized" in order to facilitate the worldwide adoption of irredeemable paper-ticket token or electronic money, which is created out of nothing. The key domino to fall was when the United States established a central bank known as the Federal Reserve in December, 1913. Ever since, inflation, financial bubbles and general economic distortion have increasingly held sway. In simplest terms, fiat money is created out of nothing by banks and central banks. It's a great system for banks, central bankers, and other financial players. During the last five years, for example, financial players in the U.S. have garnered roughly $3 trillion out of the economy essentially for merely moving paper around. The market capitalization of financial firms is, as of this writing, about 20% of the S&P 500 (up from 5% in 1980), and accounts for nearly 40% of S&P 500 earnings. The problem with fiat money is that its purchasing power always approaches its cost of production, which is near zero. This means that savers and those who are depending on promises of future payment, such as pensions and annuities, lose.

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