The Monetary Philosophy of E' C' Riegel

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The Monetary Philosophy ofE. C. Riegel

• Compiled by Thomas H. Greco, Jr.

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1. For a person to exert money power is natural
and wholesome.For the state to exert money
power is unnatural and perversive.
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2. Until the state acquired money power the state
was at worst a parasite upon the economy with
the money power, it became a perverter of the
economy. Men no longer merely tolerated it they
sought the exercise of its money power in their
favor.
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3. Thus mans attitude toward the state and the
states power over man were completely altered.
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4. Out of mans motive of winning monetary
benefits from the state grew various political
ideologies designed to screen the acquisitive
purposes of their proponents.
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5. Thus the acquisition of the money power by the
state marked a politico-economic revolution as it
gave to the state the power through fiscal policy
to control the economy and turned mens minds
from private enterprise to methods of its
political control and perversion.
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6. Our present type of state should be identified
as the monetary state and distinguished from the
pre-monetary state.
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7. Money power exerted by the state is
inescapably perverse the monetary state is a
frustrator of all aims of economic and political
liberty.
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8. In the exercise of the money power, the state
is driven inevitably from the libertarian forms
of democracy and republicanism to the autarchic
forms of fascism, socialism and communism.
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9. These are distinguished only by the manner in
which the states money power is exercised but
derive from one theory that the exertion of
money power is a function of the state.
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10. The grand issue is between the Monetary state
of today and the De-monetized state of tomorrow
wherein man will assert exclusive money power
under the principle that only producers may
create money.
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11. Thereafter the politico-economic issues that
now exist will be no more, for the state will
have lost its power to inflect the economy either
to the right or to the left.
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12. The aim is not to pose a political revolution
but to induce a revolution in thinking on money
and an evolutionary movement through local
non-political action to establish a private
enterprise money system independent of the
existing political money system.