Meet the new boss...Same as the old boss."Our currency is toilet paper already. A good way to see this is the price of gold. A fifty-dollar gold coin (one oz.) will cost you $1,068.12 as I write this. That would be fifty United States dollars versus one thousand, sixty-eight federal reserve dollars, a stark comparison that clearly points out the value of one of today's federal reserve "dollars".
In 10 years, they'll print our money on toilet paper, so as to more accurately reflect its worth.
You get the exact same product, or value - one ounce of gold - but it takes over twenty times as many federal reserve "dollars" to do it.
The cost of gold is climbing and has passed the $1,000/oz. mark. One gold eagle is listing today for $1,068.12 at Blanchards. What does that really mean? It's still a fifty-dollar U.S. gold coin. What it means is that these federal reserve dollars are rapidly heading towards their true value, which is zero.
How about a U.S. mint silver dollar? It plainly says "ONE DOLLAR" on it. So how many federal reserve notes does the mint want for one? As of this moment, S14.23... In federal reserve currency.
If you had purchased say, 100 gold eagles in January of '04, you would have spent around $380.00 for each, or a total of $38,000. Today you could cash them in for about $100,000, and at the end of this year, most likely double that. But most people that had the opportunity to do so, did not, convinced that the present monetary system was sound and durable, even with its ups and downs.
Always remember that the Federal Reserve is a privately owned corporation, contracted by the federal government to print our money, something expressly prohibited by the Constitution. The federal reserve is NOT a part of the federal government. The fed charges us a fee to print that money and they charge us interest on all their currency in circulation. That interest alone has run to billions and billions of real dollars.
A point to ponder... When the fed was created, you could actually take fifty of their "dollars" to the U.S. treasury and buy a fifty-dollar U.S. gold coin. Try that today.
You would be astounded as to how much money we owe the fed for printing and circulating our money, a job the U.S. Treasury Department was created to do... And is supposed to be doing.
The Fed is a collection of international banking manipulators, mostly from Europe, soulless cretins who have found a fool-proof way to plunder America's pocketbook endlessly.
And fool-proof is the correct term. The fools we fools send to Congress has allowed this privately owned corporation to manipulate our money for generations. You now see the results. A good first step out of our financial misfortunes would be to eliminate the federal reserve, and have the United States Treasury - once again - print and distribute our money.
6 comments:
Eventually, we're going to have to admit that Keynesian economics is a freaking scam and do away with it, or the rich Jews running and manipulating the government via the Federal Reserve will be in full control of Washington D.C...And US!
I know I have mentioned this before, but I never tire of hearing myself type it.
Gold today is not money. It is a commodety, just like any other, subject to the laws of supply and demand. The "face value" of a gold coin is meaningless. Comparisons to that and the retail price are therefore pointless.
The price rises and falls according to its scarcity and demand in the market. That demand can also be driven by wild speculation and marketing... just like diamonds. The fact that there is no rational basis for their price being high does not help you get a better deal when you go to buy one. Nor does it mean the value of the toilet paper dollar is the culprit.
That does not say inflation is also not at work. But since there is no truely stable mark to measure the value of the dollar against, you aren't going to get there from here. A better way to shoe inflation and the relative price of gold would be some kind of index of multiple commodities.
But until we get that index of multipule commodities, we're stuck with gold.
"...we're stuck with gold."
I'm not. I sticking to lead, covered with shiny metal jackets.
Jeez Roci...
At least the Lone Ranger had silver bullets...
That's why he went broke. People were lining up to be shot by him.
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