George F. Smith's picture
Joined: 2009-08-30
Columns on STR: 71
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George F. Smith
United States

Short bio:

George F. Smith is the author of The Flight of The Barbarous Relic, a novel about a renegade Fed chairman.  Visit his website.    



Columns by George F. Smith

What's Wrong With the Markets?
George F. Smith 2008-03-04 16:00
Exclusive to STR March 5, 2008 'The Federal Reserve, the central bank of the United States , provides the nation with a safe, flexible, and stable monetary and financial system.' ~ Board of Governors of the Federal Reserve System 'WAR IS PEACE FREEDOM IS SLAVERY IGNORANCE IS STRENGTH' ~ 1984 quote hidden in Apple's February keyboard update
Gold, Ron Paul and Prosperity
George F. Smith 2007-11-14 16:00
Exclusive to STR November 15, 2007 Candidate Ron Paul understands inflation as the creation of money out of thin air. While this view depicts a disturbing state of affairs and has a distinguished history, it is not in the least popular. For one thing, it tends to incriminate the money creators. If inflation is defined as price increases, by coincidence the guilt falls on those who raise...
The State Drops Its Mask
George F. Smith 2007-08-26 15:00
Exclusive to STR August 27, 2007 'So things aren't quite adding up the way they used to, huh? Some of your myths are a little shaky these days.' 'My myths? They're not'"
Whistleblower's Attack on the Fed
George F. Smith 2006-08-29 15:00
Whistleblower's Attack on the Fed by George F. Smith Exclusive to STR August 30, 2006
STR's Fifth--The First of Many
George F. Smith 2006-08-11 15:00
Exclusive to STR On, the movie "V for Vendetta" has an average viewer rating of 8.2 out of a possible 10, based on 55,397 votes. With V now available on DVD, more people will see it and a rating increase will likely follow, making it one of the most popular movies of all time among IMDb voters. The local Blockbuster where I tried to buy a copy was sold out, their stock having been...
The Root of Financial Panics
George F. Smith 2006-06-28 15:00
Exclusive to STR September 10, 2007
Crop Seeding in America
George F. Smith 2006-02-14 16:00
Exclusive to STR September 25, 2008 Everything possible is done to prevent the fraud of the monetary system from being exposed to the masses who suffer from it. ~ Rep. Ron Paul, TX, before the U.S. House of Representatives, February 15, 2006
Have Fiat Money, Will Inflate
George F. Smith 2005-09-19 15:00
Exclusive to STR
What Is the Fed's 'Noble Cause'?
George F. Smith 2005-09-13 15:00
Federal Reserve officials periodically drone about their monetary policies targeting the federal funds rate, which is the interest rate banks charge one another for overnight loans. 'Changes in the federal funds rate trigger a chain of events,' the Fed's web site says, affecting other interest rates, employment, output, and the prices of goods and services. Oh, yes ' rate changes also affect...
Crisis Is the Health of the State
George F. Smith 2005-09-12 15:00
Katrina had been well known to scientists and emergency professionals long before it made landfall in New Orleans. Far from being a storm that was 'breathtaking in its surprise,' as Homeland Security Secretary Michael Chertoff described it [1], Katrina was virtually scripted in a five-part New Orleans Times-Picayune article in 2002.
The Greenspan Greenback
George F. Smith 2005-02-28 16:00
In an effort to silence forever those pesky cranks who call themselves monetary libertarians, Federal Reserve Board Chairman Alan Greenspan has announced a new do-it-yourself dollar. Appropriately called the Greenspan Greenback, the new one-dollar specimen sports Chairman Greenspan's likeness not merely once, as with good 'ol George, but 12 times. 'Critics of the Fed's very...
Greenspan and Banker Alchemy
George F. Smith 2005-02-13 16:00
In 1966, Alan Greenspan published an essay called 'Gold and Economic Freedom,' certain words from which have been reverberating throughout libertarian circles since he started working for the government.
Inflation, the Insidious WMD
George F. Smith 2005-01-18 16:00
In a speech delivered recently at a Mises Institute conference on 'The Trouble With Taxation,' Lew Rockwell told his audience about how Alabama governor Bob Riley tried to con taxpayers into handing over more money. Not only did Riley try to get voters to approve the largest tax increase in state history, his proposed bill would have changed the state constitution to make it easier to fleece...
Season"s Greetings from the Fed
George F. Smith 2004-12-28 16:00
In 1903, a lawyer in Germany took out an insurance policy and made payments on it faithfully. When the policy came due in 20 years, he cashed it in and bought a single loaf of bread with the proceeds. [1] He was fortunate. If he had waited a few days longer, the money he received would have bought no more than a few crumbs. Germany had been on the usual fractional reserve...
A Strong Dose of DiLorenzo
George F. Smith 2004-12-01 16:00
Given what passes for economic understanding today and the disastrous policies we're forced to endure, you might think economic decision-making consisted of a coin toss with a two-headed penny. Every problem is the market's fault and government's responsibility to fix. The root cause is always too much freedom ' the solution, therefore, is to have less of it. In this picture, government is like...
It Has Happened Here
George F. Smith 2004-11-01 16:00
The problem for the liberty-loving individual is chronically the same, no matter what the date: how to keep the big foot of government off the backs of our necks. Libertarians such as Carla Howell and Michael Cloud argue that small government is beautiful. Vote for Libertarian Party candidates, and they will chop leviathan down to a tiny fraction of its size. We can certainly...
Congress Runs the Gauntlet
George F. Smith 2004-10-18 15:00
A major crisis occurred the other day, but government officials pounced on the problem and brought it to an end. In resolving the difficulty, government added no new powers, kept our freedom intact, and took no more of our money. In sharp contrast to the preceding is the world we live in. As usual, politicians and their hacks are kicking around a number of...
The Fed's Grasping Invisible Hand
George F. Smith 2004-09-28 15:00
As Adam Smith explains, the free market brings its wonders to the world by virtue of an invisible hand. Individuals cooperating under the international division of labor and seeking generally to satisfy their own wants end up promoting the general welfare, often without intending to or without realizing it. Not to be outdone, government too has developed a systemic hand that...
Think Outside the Booth
George F. Smith 2004-08-16 15:00
Government is holding an election this fall and expects us to participate. One of the major party candidates will win and government expansion will continue unabated. Some people will vote their conscience by voting for a third-party candidate. Their man has no hope of winning, but they believe it's better than voting for a Republicrat or not voting at all. Voting for the...
Myths of the Money Machine
George F. Smith 2004-08-04 15:00
So many wars to fight, so much welfare to dish out. Life is difficult for those who rule us. How are they going to pay for it all and still command our respect? Trying to remake the world with taxes alone won't do it ' there's always the chance, however slim, that Americans would protest. Politicians thus need a way of getting more money without actually taking it from us. Impossible as it...
The Story of the Fed Is a Story of a Crime
George F. Smith 2004-06-13 15:00
The magnitude by which [the reality of the Federal Reserve] deviates from the accepted myth,' writes G. Edward Griffin, 'is so great that, for most people, it simply is beyond credibility.' But as he makes abundantly clear in his landmark book, The Creature From Jekyll Island, now in its fourth edition, the case against the Fed is overwhelming. [1] Creature, as Griffin...
Where"s the Outrage?
George F. Smith 2004-04-07 15:00
The president of the country lies and no one seems to care. They don't even care that he pokes fun at himself about the lies. He and his comrades lied before, during, and after the war, which so far has killed over 600 Americans. Impeach him? Not a chance. He'll probably get re-elected. There is no outrage because this is what we expect from government. Budgets in the...
Slackers, Arise! Support the Anti-Party!
George F. Smith 2004-02-16 16:00
People concerned about the growth of government start developing migraines around this time of year. They feel compelled, somehow, to scrutinize the candidates up until Election Day so they can put their votes where they will do the least harm. They tell themselves voting is how responsible people act in a democratic republic, even if it's a lost cause. With all the candidates promising great...
A Juggernaut of Destruction
George F. Smith 2009-02-19 16:00
Exclusive to STR February 20, 2009 Nature is stingy; the things we need to sustain life above a primitive level are scarce. Fresh tomatoes, iPods, and rotator cuff surgery do not come forth as easily as the air we breathe, and thus man had to discover on his own how to produce or acquire them.
Who Are the Revolutionaries in a Free Market Revolution?
George F. Smith 2012-11-05 00:00
Column by George F. Smith. Exclusive to STR On the dedication page of Ron Paul’s The Revolution: A Manifesto, we find these words: "To my supporters:  I have never been more humbled and honored than by your selfless devotion to freedom and the Constitution." The modifier “selfless” is intended as a moral tribute. Imagine instead if he had written “selfish...
The Exit on the Road to Tyranny?
George F. Smith 2013-07-02 07:51
Column by George F. Smith. Exclusive to STR One of my favorite quotes from the quotable Thomas Paine is a mere footnote in his treatise, Rights of Man, Part Second, in which he wrote: It is scarcely possible to touch on any subject, that will not suggest an allusion to some corruption in governments. Paine was referring to “the splendor of the throne,” which he said “is no...
Who Paid for the Civil War?
George F. Smith 2011-05-19 23:00
Column by George F. Smith.   When war broke out in 1861, the federal government was without its own money machine, though that would soon change. As expenses from the war mounted, the U.S. government once again issued Treasury Notes to help finance it. The Act of July 17, 1861 authorized Secretary of the Treasury Salmon P. Chase to issue notes at 7.30%, a rate chosen to make...
Wildcat Inflation Fighters
George F. Smith 2011-05-15 23:00
Column by George F. Smith Exclusive to STR Summary: Though banking and government have had a corrupt relationship throughout history, the Suffolk Bank and Independent Treasury System, both of which were prominent during the “wildcat banking” era of the 19th Century, represent significant efforts at reform.    In his 1994 book, Money Mischief: Episodes in Monetary History,...
The 'Case' Against Thomas Paine
George F. Smith 2013-06-12 07:20
Column by George F. Smith. Exclusive to STR Thomas Paine died on the overcast morning of June 8, 1809, in New York City.  Libertarians have long savored his unabashed attacks on government and the many evils of paper money, and the fact that he not only ignited the drive for American independence but kept it alive during its darkest moments.  He played an important role in history, both...
The Triumph of the Bankers
George F. Smith 2011-05-24 23:00
Column by George F. Smith. Exclusive to STR   In spite of its success in bestowing wealth on some men while funding an unnecessary war, [1] the National Banking System proved unsatisfactory to financial leaders. Even with laws discouraging or restricting redemption, crises still occurred, and banks had to contract and deflate to survive. They were unable to inflate their way out of...