Diminishing Property Rights Will Lead to a Higher Rate of Mortgage Defaults by Eric Englund
With respect to property rights, 1913 was a terrible year. This was the year when the Sixteenth Amendment to the U.S. Constitution was ratified – allowing the federal government to directly tax its citizens. To add insult to injury, the Federal Reserve was established and the fiat-banking cartel was born. Therefore, in 1913, the federal government was empowered to tax its citizens in two ways. One way, of course, is via direct taxation. The other, and more pernicious method of taxation, is through inflation – by the Federal Reserve debasing the dollar.
- posted by SARTRE @ 6:06 AM