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Gold's Hidden Secret - The Moral Hazard Of Fiat Money

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posted on Jan, 14 2009 @ 09:35 PM
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Go up to somebody on the street and ask them what do they know about the one dollar bill, and where did it come from, you would probably get a reply with something like 'The Government prints it'.

I found this on Gold Vs Fiat currency, It's a good read.




The U.S. Silver Dollar had its genesis from the Spanish Silver Dollar known as Pieces of Eight. As the Federal Reserve Bank of San Francisco states: "During much of the 17th and 18th centuries, the Spanish Dollar coin served as the unofficial national currency of the American colonies."


I guess an old Fart like me have learned something today.




Money that circulates only because it has been forced upon the people by legal tender laws is not Honest Money. What the State enforces as acceptable for payment of taxes is not Honest Money. It is not the stuff of free markets. It is not the money of the Constitution. Is it honest to lend that which one has does not have? Is it honest to lend that which one has not earned? Is it honest to create that which one loans out, and then to charge interest on it, for doing nothing? Fractional reserve lending of paper fiat debt-money evokes the epitome of moral hazard, and thereby pays homage at the altar of the money-god Lucre.


321 Gold Link

I hope you all enjoy this read, I know I have. Follow the links for more Info.

Mods if this is in the wrong section Please move it Thanks.




posted on Jan, 16 2009 @ 07:57 AM
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to understand why fiat money came into being, one needs to do research from the 1700's and 1800's on how many times the government tried to make precious metal "money" work. the violent swings in the nations economy during that time facilitated the creation of fiat money.

now having said that, i think control of our monetary system through the use of fiat money, should be more closely watched and controlled by our elected leaders. the fed has gained incremental control over the last 80 or so years, to the point of being harmful to our economy.



posted on Jan, 16 2009 @ 08:07 AM
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All you have to do to eliminate the entire concept of fiat money is destroy the power of fractional reserve banking and leverage.

That way all money, be it fiat or hard, must be created into existence by effort.

We face problems atm because money was being lent into existence. Its a bloody miracle that inflation didn't take hold... but in a way it did (asset prices went up). CPI only focuses on food. Nobody buys excess food just because they can... what they do is buy art, antiques, stocks, shares, houses, cars etc- and just look at the price of those.



posted on Jan, 16 2009 @ 08:23 AM
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Well...Did you know that the US government went bankrupt in 1934? And did you know that all Americans were ordered, under penalty of arrest if they refused to turn over their gold the the FED? Have you ever heard of the Creature from Jackal Island? Read here:

Congressman McFadden on the Federal Reserve Corporation
Remarks in Congress, 1934 AN ASTOUNDING EXPOSURE
www.afn.org...

and here:
www.jesus-is-savior.com...

Thomas Jefferson, declared, "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."

Did Jefferson have a crystal ball when he spoke these words? Has a private banktaken control over our nation's money supply?

ARTICLE 1, SECTION 8 OF THE CONSTITUTION STATES THAT CONGRESS SHALL HAVE THE POWER TO COIN (CREATE) MONEY AND REGULATE THE VALUE THEREOF.

IN 1935 THE SUPREME COURT RULED THAT CONGRESS CANNOT CONSTITUTIONALLY DELEGATE ITS POWER TO ANOTHER GROUP. (Reference 22, P. 168)

The FED began with approximately 300 people or banks that became owners (stockholders purchasing stock at $100 per share - the stock is not publicly traded) in the Federal Reserve Banking System. They make up an international banking cartel of wealth beyond comparison (Reference 1, 14). The FED banking system collects billions of dollars (Reference 8, 17) in interest annually and distributes the profits to its shareholders. The Congress illegally gave the FED the right to print money (through the Treasury) at no interest to the FED. The FED creates money from nothing, and loans it back to us through banks, and charges interest on our currency. The FED also buys Government debt with money printed on a printing press and charges U.S. taxpayers interest. Many Congressmen and Presidents say this is fraud.

If we eliminate the FED and uphold the Constitution, we could balance the budget and cut personal income tax to almost nothing. In Congressional hearings on September 30, 1941, FED Chairman Eccles admitted that the FED creates new money from thin air (printing press), and loans it back to us at interest. On June 6, 1960, FED President Mr. Allen admitted essentially the same thing (Reference 22, P. 164). If you or I did this we would go to jail.

American has been swindled, plain and simple.



posted on Jan, 16 2009 @ 07:40 PM
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Hmmm, maybe the Congress should Nationalize the FED instead of the banks per se.



posted on Jan, 16 2009 @ 08:46 PM
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reply to post by autowrench
 


Wow!, Thanks for the read, a long one at that. Congressman McFadden sounded like another Ron Paul, and as usual nobody listened.




"In eighteen years that have passed since Senator Lodge wrote that letter of warning all of his predictions have come true. The Government is in the banking business as never before. Against its will it has been made the backer of horse thieves and card sharps, bootlegger's smugglers, speculators, and swindlers in all parts of the world. Through the Fed the riffraff of every country is operating on the public credit of the United States Government.




[edit on 16-1-2009 by tiso_us]



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