Fiat Money in a Rigged and Fake Capitalist US Economy 1913 to 2019!
Don't think for a minute the United States is immune to this monetary sickness.
Look at the 2300% plus cumulative inflation we have had since 1913 when the Federal Reserve Act and The Federal Income Tax Acts were both ratified by President Woodrow Wilson, a Democrat, in the following hyperlinks:
More inflation links and examples will be added soon.
Remember the big bankers don't care about patriotism to our country or any other nation. All they care about is net profit. Greed is their guide. They have financed both sides of many a war.
Both political parties in our nation have by fiat (a legal declaration) allowed and supported the formation of the Federal Reserve who gradually took the gold and silver backing out of our nations currency.
The value of money before 1971 was based on gold and silver coins and paper receipt money backed by gold and silver. Now the value of our current fiat money is based on non tangible arbitrary numbers and other fiat currencies around the world. Fiat money is based on arbitrary numbers without any tangible or useful value like gold, silver, oil, or other valuable commodities.
Its was President Woodrow Wilson, a democrat, who pushed for and signed the Federal Reserve Act in 1913 and the Federal Income Tax Act of 1913. And President Richard Nixon, a Republican, who was forced to closed the gold window on August 15th, 1971 because foreign countries holding US Receipt Dollars were turning in their US Dollars in exchange for the gold they were backed with. At the same time US citizens were not allowed to exchange their US Dollars or receipt money for gold.
The gold was quickly pouring out of the US Treasury in large sums to foreign countries so President Nixon had no choice but to end the backing of the dollar with gold on August 15th 1971 when he closed the gold window.
I don't blame President Nixon for our current fiat money system. The US was I believe the last country to back their paper receipt money with gold til 1971 and had silver coins through 1964. The rest of the world was already off the gold standard and had already started using fiat money so the United States had to go off the gold standard and start to trade with fiat money like all the other countries in the world to protect America from unfair money exchange in international trade and to keep our gold reserves here in the US.
I blame the Democrats and President Woodrow Wilson for the creation of our current fiat money by voting for and signing off on the Federal Reserve Act of 1913 which led to the devaluation of the purchasing power of the US Dollar and 2,400% inflation we have had since 1913.
These facts lead me to believe that we live in slavery to the privately owned Federal Reserve Banking System that prints our paper (fiat) money with President George Washington's face printed on the front of the US Dollar.
Ironically, President Washington and many other American founding fathers were totally against those who would try to put America on paper (fiat) money. This they called a treasonous act that deserved the death penalty as written in the 1792 US Coinage Act.
I think our monetary system hurts the poor and middle class more than anything in our great nation and the worst of it is yet to come with hyperinflation caused by fiat money and large unfunded government deficits.
Read this quote about Social Security and Medicare deficits by an economist by the name of John C. Goodman:
"For Social Security to be financially sound, the federal government should have $100 trillion - a sum of money six-and-a-half times the size of our entire economy - in the bank and earning interest right now. But it doesn't. And while many believe that Social Security represents our greatest entitlement problem, Medicare is six times larger in terms of unfunded obligations."
Everyone's retirement money has to be invested very wisely to keep up with inflationary pressures created by fiat money and deficit spending. This is not an easy task because it takes a lot of education or good investment planning to make wise investment decisions to save and protect your hard earned retirement money in life for your golden years without knowing how much inflation or hyperinflation our country will have in the future.
I would like to think we are safe from fiat money and hyperinflation but are we? World history is full of examples of fiat money producing hyperinflation. Here is a link to Worst Cases of Hyperinflation in History by Investopedia.com.
I would rather weigh my small net worth in gold and silver and protect it with my Smith and Wesson than pay an accountant, a tax attorney, a money manager, a banker, a stock broker, a realtor, and a commodities broker to protect and keep track of my net worth in terms of fiat money. I think that "protection" is another cost of of owning fiat money!
When foreign and domestic investors eventually loose confidence in the US Dollar and US Treasury Bills because of huge Federal Deficits combined with the use of fiat money then US Treasury Bills will become become junk bonds and hyper inflation will start and the devaluation of the dollar will begin. It will be a worldwide economic crash unlike any other economic depression this world has has ever seen.
If you don't believe my doomsday economic theory then please read what the American Founding Fathers, world leaders and business icons have warned us in their quotes and writings on fiat money, central banks, and inflation over the history of the world. I believe you will have a better understanding of how our world and our country's economy work today!
Please click on the next hyperlink below and read the following facts and information on what world leaders and scholars have written about fiat money, paper money, banks, bankers, hyper-inflation, currency devaluations, taxation and more.
If we have fake (fiat) money in America then does this mean we have a fake (fiat) economy that is controlled by the privately owned Federal Reserve Bank who controls the entire nation's: system of credit, money supply, interest rates, stock market, real estate market and economy. The Federal Reserve is more powerful than any President, Senator, Congress Person or any Supreme Court Judge.
And by the way, I bet there are very few business schools in the world that teach about fiat money or negative interest rates.
Store up your treasures in heaven while you still can.
Life is very short compared to eternity with or without the corona virus.
The thief comes only to steal and kill and destroy; I have come that they may have life, and have it to the full.
Sell your possessions and give to the poor. Provide purses for yourselves that will not wear out, a treasure in heaven that will never fail, where no thief comes near and no moth destroys.
There is a Bible verse I think in Proverbs that says better for a man to go to a funeral than a party because it will make him think about death and dying and where he will spend eternity.
The Lord gives life and the Lord takes life away blessed be the name of Lord.
Please go to all the verses on the gift of alvation in the bible that I could find for myself and others while there still is time. You only have to have the faith of a mustard seed.
And by the way there is no price you have to pay to get in to heaven.
Jesus paid the price for all of mankind to be saved for eternity with his blood on the cross.
God gave us all free will and choice to go to heaven or hell.
Its your choice to accept the Lord's gift of salvation for eternity in heaven.
Its up to you and only you to make that choice.
No one else can make that choice but you.
I hope you make the right choice.
God Bless Everybody.
Ronald A. Blumenthal
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