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Why is diversification away from the dollar important? Taking the big picture one level higher, you must understand that the money you have in your wallet, purse, and/or bank account is not real money. There is nothing tangible behind the paper dollar! It's just play money, like adult Monopoly money. That colorful $20 bill in your wallet or purse is a coupon redeemable at all locations near you. For now, anyway. Those ignorant, unconvinced folks who give me a half smile and a blank look when I tell them it's not real money will be in for a rude awakening when their belief system reveals its poor foundations. These terminal consumerists think, "Well, when I go to the mall, they accept my (paper) money, right?" They have been living with worthless paper money all their lives. They stubbornly stay in their comfort zone. They take for granted that their “money” has purchasing power while the game is going on. What happens when the game is up?
When you enter the bank to lend money it is probably a common thought that the money you are lending has been deposited with the bank by another person or a company with excess money. In short, the money you are lending is already in existence.
This assumption is wrong. The money that you borrow from the bank does not exist earlier but are created when the loan is raised. In principle money is created out of thin air.
How can anything be created out of nothing? How can anything of value be created by writing figures on a paper? The new money will actually have value as they can be used in the society for purchases of assets and services on exactly the same manner as all other persons with access to money.
The answer lies in that nothing new is created but the total resources of the society in form of assets and services is exactly the same as before my new money was created. The only thing that has happened is that the total volume of money has increased and my new money is now competing for the same assets and services as before.
Many people today do not understand the true nature of interest. They have no idea that there are other possibilities besides slaving one's life away for the moneylenders.
The USA does not print its own money. The "Federal" Reserve, a private bank, creates and manages our money supply! It is neither federal, nor does it have any reserves. The US government surrendered its natural right to issue currency several times in its history, but it did so once and for all in 1913 with the Federal Reserve Act. Now the government "borrows" huge sums (a billion here, 10 billon there) in the form of Treasury bonds, which are tacked onto our $9 trillion national debt—while the Federal Reserve, for the price of ink and paper, creates that money out of nothing.
The tyrant today is not the government (although Income Tax is something surprisingly new in our nation's history). The tyrant is the network of banks, which conspire to suck people dry at every turn, which causes such a drain that both parents have to work. This alone causes countless problems in the world today, because children were meant to be raised by their parents. They were not meant to be wards of the state.
Originally posted by ben91069All it would take is someone with the resources and desire to do it.