posted on Jun, 26 2009 @ 02:59 PM
reply to post by mahtoosacks
The problem is that not enough people know that the United States Government, is in collusion, with the robber-barrons, through the Federal
Did you know, that Congress is only allowed to manufacture currency, in the form of coinage?
So, they colluded with the robber-barrons, to make the Federal Reserve, something that is neither "federal" nor a "reserve" in order to bring
about fiat money
, which has no backing, except that the Government says it is acceptable.
Fiat money is money declared by a government to be legal tender. The term derives from the Latin fiat, meaning "let it be done".
Fiat money achieves value because a government accepts it in payment of taxes and says it can be used within the country as a "tender" (offering) to
pay all debts.
In effect, this allows it to be used to buy goods and services and to pay tax.
Where fiat money is used as currency, the term fiat currency is used. The most widely-held reserve currency, the US dollar, is a fiat
The United States of America has been off the gold standard since Nixon.
According to the United States Constitution, we have a right to have our money guaranteed, by silver or gold.
[edit on 26-6-2009 by SpartanKingLeonidas]