End of the Road: How Money Became Worthless

Created: 2021-08-13T01:04:37-05:00

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• Breton Woods Accord: pinned all global currencies to USD, and thus to Gold Bars (AU)
• Nixon terminates gold standard; all currencies become backed by nothing.
• Statistics used to make inflation appear less than actual to avoid having to pay inflation adjusted rates.
• Central banks suppressing value of gold and silver to delay hyperinflation.

Double-spends

• Most Bank of International Settlements gold remains in the Federal Reserve or the Bank of England's vaults and rarely leaves.
• Thus there is little external evidence that gold is not double-spent.

Boullion Bank Loophole

• Lending gold to a "boullion bank", which allows the reserve to claim it still holds gold but it has actually been given to a bank.
• The bank then sells the gold under promise of buying it back some day.
• The bank who sold the reserve gold may also purchase bonds, which in turn requires the government to borrow again to pay off the bank that sold its own gold.

In this way reserve gold is laundered in to a bond but the reserve can claim it still "has" the gold on the books.

Theft by Inflation

• 1960s: only men worked, blue collar workers could support 8-child families
• 1970s: women enter work force for family to stay afloat
• 2000s: families must take on debt to remain stable

Mike Maloney

if one dollar exists and you loan it with interest, you need to borrow the second dollar to pay off the first. it's a ponzi scheme because it can never be paid back.

Federal Reserve Liability Cycle

• Government produces bonds which are sold to Federal Reserve, who prints the cash and sends it to the government.
• Bonds are then sold to the public/other countries to acquire currency to back what was printed.
• Cycle continues forever in order to pay off previously issued debts.

Hyperinflation

• When people lose faith people stop buying the bonds
• When the federal reserve is the last remaining buyer the currency has reached hyperinflation
• People buy a flurry of physical goods to get out of paper money