Genesis of the "NO" Logo
In history there have been two basic forms of social organization: collectivism and individualism. In the 20th and 21st century, collective variations have included socialism, fascism, Nazism, and communism. Under collectivism, a ruling class of “intellectuals”, bureaucrats, politicians and/or social planners decides what people want or what is “good” for society and then uses the coercive power of the State to regulate, tax and redistribute wealth in an attempt to achieve their desired objectives. Individualism is a political and social philosophy that emphasizes individual liberty, belief in the primary importance of the individual and in the virtues of self-reliance and personal independence and responsibility. It embraces opposition to controls over the individual when exercised by the state. The Preamble to our Constitution makes it plain that all power rests originally with the people, as individuals.
The “O” within the circle represents collectivism in its various forms. The “N” represents an emphatic repudiation of collectivism. The red, white and blue circles encompassing the “NO” are emblematic of our Republic. It is the responsibility of the individuals in an engaged and enlightened republic to limit the influence of the government, especially one that attempts to wield power outside the boundaries delineated by the Constitution.
Like all state bureaucracies, the Fed is in fact struggling with problems that are predominantly of its own making. The Fed is the reason we are in this crisis. Or, more specifically, the present economic crisis is the inevitable consequence of the political decision to adopt a system of unconstrained, constantly expanding fiat money, in which the central bank, in its role as lender of last resort, systematically encourages bank lending and thereby the extension of credit on the basis of money printing rather than true savings. This system came into full bloom only in 1971, when Nixon severed the last link to gold and thus initiated, for the first time in history, a global system of unrestricted fiat-money creation.
