Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. – Ayn Rand, “Atlas Shrugged”
I don’t know about anyone else, but I find it ironic that Alan Greenspan, the guy who inflated the fiat currency and debt bubble – the Great U.S. Ponzi Scheme, was a disciple of Ayn Rand before Henry Kissinger got ahold of him and turned him inside-out.
I wanted to post an article that I read back in 2007 which shed even more light on the truth about what was unfolding economically in the United States:
There are few things that federal big spenders hate more than gold. Why? Because they know that, historically, gold has provided the best means by which people could protect themselves against the ravages of a rapidly depreciating currency.
The mainstream press often uses the term “inflation” to describe rising prices. That’s incorrect. Actually, when the general price level is rising, that’s a result of inflation, not inflation itself. Inflation is the process by which governments print up the money to pay for ever-increasing expenditures.
The part about the nature of inflation was not the eye-opener. Anyone who didn’t sleep through their 1st-level macro-economics course in college, assuming it was a bona fide economics course, knows the true definition of inflation.
The light on the truth become more bright for me when Jacob Hornberger laid out the historical evolution of fiat currency and the destruction of the Constitutional Amendment which mandated specie – physical gold and silver coins – as the only permissible legal tender in the United States.
So how did things change so dramatically? How did it come to be that the monetary system of the United States is now based on irredeemable paper money? Why are gold and silver coins and gold and silver certificates no longer used as our country’s money? Given that there was never a constitutional amendment changing America’s monetary system, how did things change so radically?
The answer lies with two presidents — Abraham Lincoln and Franklin D. Roosevelt. Their respective actions revolutionized our nation’s monetary system. Their actions culminated in a monetary system that has enabled federal authorities, decade after decade, to fraudulently plunder and loot the American people, even to the point of denying them the ideal means — ownership of gold — by which to protect themselves from the federal government’s immoral and insidious monetary behavior.
This is a MUST-READ documentation of the history of fiat currency and ultimate destruction of the gold standard in the United States: The Federal War On Gold
This article is the foundation for understanding why I have stated since 2003 that the elitists running this country would be able to hold the system up with printed money and credit until they had swept every last crumb of citizenry wealth off the table into their pockets. The lust for power and greed knows no bounds – history has already spoken on this human condition.
In the markets of today the gold price is being set by ‘synthetic gold’ and has no connection to the fundamental flows. – “Jesse” of Jesse’s Cafe Americain in an email exchange with me