Why Banking Elite Hates Gold Standard But Loves Fiat? – CHAPTER[1.3]

Why banking elite hates gold standard - Bitcoin Is Scam

Because Gold can't be corrupted (distorted, manipulated) or created (counterfeited). A monetary system based on Gold will bring economic stability through a free and fair market and just circulation of wealth.

The banking elite succeeded because they changed the very definition of money and convinced the public in believing that commerce depends “more on psychology than physical attributes”. In other words this wrong and bogus ideology laid the foundation to a corrupt monetary system.

They are using the exact same logic this time to legalize the use of fiat digital currencies this time. Precious metals were replaced by tangible paper currency and this time it will be replaced by intangible electronic currency.

Its funny when you see crypto-enthusiasts saying, no one can take Bitcoin away! No one can stop bitcoin. Really?

They need to read the monetary history and discover how people were forced in 1933 to submit all gold to the U.S Federal reserve bank and redeem it for paper. Those who didn’t listen had to face 10 years imprisonment and with an extra doze of financial penalties.

The banking elite hates Gold so much that in 1933, Federal Reserve suspended gold convertibly and made it illegal for U.S citizens to own gold or trade in gold. Strict penalties were imposed on those who didn’t obey.

I wonder how come bitcoin holders are so confident that their worthless bits can’t be snatched by force by the very elite who funded it?

To understand how we have been fooled with a bogus and fraudulent monetary system for over a century, you need to first educate yourselves with the basic difference between money vs. currency that is never taught in schools or universities and which is the primary reason why thousands of youngsters are falling a prey to worthless crypto-currencies.

Money Vs. Currency Major Difference

Money is a store of value and maintain its purchasing power over long periods of time. Example: Gold/Silver

Gold as a perfect store of value - money vs currency difference

Currency is not a store of value and looses its purchasing power drastically over short periods of time. Example: U.S Dollar

Value of US dollar in terms of Gold 1795-2005

Money is the trading tool that stores the economic energy that is your time and freedom, whereas currencies leak them away.

Your true wealth is your 'Time' and 'Freedom'. It is your economic energy that you can store inside a commodity (such as Gold/Silver) and use it whenever you want. But the whole world has been turned away from real money and has been fooled into using currency (bogus money), a deceitful imposter that is silently stealing away your two most important assets i.e. your Time and Freedom.

National currency is only a tool used by the government financial sector to leach away your time and freedom by stealing your purchasing power rather than storing your economic energy. Paper currencies leak in value over time thus causing inflation.

Dollar has lost 96% of its purchasing power since the start of federal reserve in 1913. The price of things does not change, its actually the purchasing power of your paper notes that loose their value.

Decline in purchasing power of dollar 1970-2010 - Bitcoin Is Scam

Wages don't increase instantly with rising prices thus giving rise to a chaotic situation like French revolution and Egyptian uprising. To pay their expenses, people take debts and those debts are lended with interest, that they die paying all their lives.

US dollar lost 96% of its value since 1913 - Bitcoin Is Scam

Before 1933, a classical gold standard was implemented as a monetary policy

In 1933, 1 oz Gold = $20

But soon gold coins ceased to be minted as a circulating currency in the 1930s, and the world gold standard was abandoned for a freely floating fiat currency system in 1971 by U.S President Nixon.

Nixon deserved to be hanged by humanity for cheating the whole of world (Watch Why). But these elite so smartly fooled the world through lies and diplomacy that we are all suffering from the consequences of inflation ever since.

Today 1 oz of Gold = $1,239

Which means: U.S Dollar has fallen by over 98% in value compared to Gold - 98% of your wealth is stolen from you and it got transferred in the hands of the elite.

You know how it effected human life? It caused artificial inflation (rise in price of goods/services) which gave rise to:

  • poverty,
  • civil wars
  • and millions of deaths due to hunger and thirst.

The graph below looks almost the same for all countries. Inflation in USA causes inflation in the rest of the world. Because all paper currencies today, are backed by the worthless U.S dollar.

Consumer price index U.S.A 1775-2012

Why Did Nixon Abolish Gold Standard?

Nixon Abolished Gold Standard  - Bitcoin Is Scam

Because USA was caught red handed doing cheating!

After world war 2, in 1944, United States gathered all the world nations and signed the Bretton Woods agreement(First greatest scam ever before cryptocurrencies). United States, which controlled two-thirds of the world's gold, insisted that the Bretton Woods system rest on both gold and the US dollar.

At this time it was agreed upon that 1 oz Gold = $35 and all currencies will follow this fixed exchange rate.

Everyone gave their gold to USA and in return took US dollars at an exchange rate of $35/oz.

Bretton Woods System 1945-1971 infographics - Bitcoin Is Scam

In layman terms, United states promised that it will print as much Dollar bills as much Gold it has in its vault. But later the world realized that USA was printing more paper than the actual amount of gold it had!

USA was cheating and lying to the world by printing more paper currency than their Gold reserves. Nations began to demand redemption of their dollars for gold.

Germany left the agreement in 1971. Switzerland redeemed $50 million in July. France acquired $191 million in gold. As the dollar dropped in value against European currencies, Switzerland also left the Bretton Woods system.

1959 - France call USA's bluff - Bitcoin Is Scam

Finally as the pressure began to intensify on the Cheater United States, they also left the Bretton Woods agreement.

In France, the Bretton Woods system was called "America's exorbitant privilege" as it resulted in an "asymmetric financial system" where non-US citizens "see themselves supporting American living standards and subsidizing American multinationals". — Wikipedia

Also read this interesting paragraph by Australian Aim Media Network :

The US has a long history of imposing its currency on the rest of the world, often by force. The Breton Woods pact of 1948 established the US dollar as the world reserve currency, backed by gold at $35 an ounce. By the 60s many countries began to panic, fearing that the US did not have enough gold reserves to back its currency, and decided to repatriate their gold. Fearing a total economic collapse, in 1971 Richard Nixon unpegged the USD from the gold standard, effectively hitching the global economy to a floating ‘fiat’ currency. At the same time deals were done with Middle East and North African countries to ensure that oil – by far the most important commodity of our age – would be sold exclusively in US dollars. This meant that in order to buy oil, other countries would need to hold reserves of US currency. Thus the primacy of the USD was secured in what would come to be known as the ‘petrodollar’.

What is Fiat Currency?

Fiat currency could never have been embraced by world unless the elite had not convinced people into believing:

Gold is bulky, old fashioned and is not compatible with modern day transactions!”

Money backed by nothing but only blind trust or faith is called fiat currency. Fiat in Latin means "Let it be done."

During Bretton wood, world currencies were backed by dollar and this dollar was backed by Gold.

world currencies backed by dollar - Bitcoin Is Scam

But after 1971 and till now it is backed by nothing tangible but a bogus trust/faith on government issuing the currency. Its a free floating fiat currency. World currencies now depend on dollar which is backed by nothing!

US dollar crash impacts in 2020 - Bitcoin Is Scam

Any effect on US Dollar supply indirectly also effects the other nations as well. They are all now tied up to this useless paper currency which is printed on will.

If the U.S government says that this worthless paper (Dollar bill) is money so it is! When federal reserve prints more dollars, it dilutes the value of other currencies because they are all backed by fiat dollar as the reserved currency. Printing more paper currency means inflation and thus a state of panic where a rich gets richer but poor gets poorer.

dollar lost 96% of its value since 1913 - Bitcoin Is Scam

China and Russia are hated by US because they have realized the scam of paper currency and are redeeming that useless paper back in Gold and asking USA to give them back their real Money (GOLD) by taking back the paper dollar.

China asking USA to give back its gold reserves - Bitcoin Is Scam

Nothing has caused more harm to humanity than a artificial monetary system led by few individuals with an ambition to control the masses and bring them under one common order. This dream of global domination has effected the world so badly that it is causing thousands of people to die because of thirst and hunger in under developed nations.

In Africa more than 40% of all children aged 5–14 labor for survival, or about 48 million children. Artificial poverty caused by the this bogus monetary system is considered as the primary cause of hunger and thirst in Africa. No matter how much they work hard, their wages do not increase but inflation (artificial rise in prices) keeps on increasing.

While on the other side, The world's need for dollars as reserve currency has allowed the US government as well as Americans to borrow at lower costs, granting them an advantage in excess of $100 billion per year!

People who live in a country that issues a reserve currency (US Dollar today) can purchase imports and borrow across borders more cheaply than people in other nations because they do not need to exchange their currency to do so.

wikipedia

That’s how they fooled us all, with magic of mathematics and lies! They invented paper and this time they have a new product called cryptocurrency, a digital currency that you can’t see or touch, which can easily be manipulated and which is far more horrible than fiat USD as you will discover shortly.

I haved described in detail in Chapter#2 how bitcoin prices are manipulated through speculation and manipulation of the market. The recent price boom of $20k in December 2017 was a clear example of price manipulation in the crypto market through methods only known to people well versed with blockchain technology and computer science.

Abolish fiat currencies to end hunger in Africa - Bitcoin is scam

Africa has the second largest mineral industry in the world but they are facing poverty because they are selling all these rich resources such as gold, diamond, copper, Iron, aluminum, coal, oil, cement, steel and much more precious minerals for worthless paper currency that has no real value!

Introduction of cryptocurrencies will simply wipe out these poor people from the surface of the earth which is currently the biggest agenda of the elite. Because neither can these poor afford a smart phone or internet, nor do they have the basic tech know-how to understand this complex money structure and how on earth will they afford cellular charges?

What Happens When U.S Creates More Money Out Of thin air?

A bogus and fraudulent monetary system never survives longer than 30-40 years. When ever the US monetary system is on the verge of collapse, the elites hide behind the magic of Quantitative Easing to get rid of the growing financial crisis.

Quantitative easing in simple terms means easing the financial crisis (temporarily) by increasing the quantity of the currency in the market. i.e. Creating more worthless currency with a click of a button!

More currency supply in the market means, further leaking the purchasing power of the paper currency thus causing inflation. For those brainwashed by elite who think QE does not cause inflation, they may better search the internet or read this interesting article by Guardian - Must read the comments there!

Quantitative easing is done repeatedly like QE1 and QE2 and so on.... QE2 (Artificial inflation) caused the Arab spring and destroyed almost half of Middle east and North Africa in 2010. Arab spring happened because the price of food reached the critical point i.e. 40-60% increase.

quantitative easing 1995-2018

Inflation effects the most productive of the society i.e. the poor, because the poor have their savings in fiat currency which is just a tissue paper.

There is nothing economists hate more than a fiat currency. USA does not need nukes to destroy under developed nations, there fiat dollar is enough a weapon to destroy all of South Asia, Middle East and South Africa through quantitative easing.

Food price index during Arab spring - Bitcoin Is Scam

It happened during Arab Spring or French Revolution and this will happen again in the history of mankind because the coming US economic collapse won't only set USA on fireworks but it will impact all of the nations holding paper currencies. Want to see how horrible it is: just give a glance to the ever increasing national debt of USA:

US national Debt - Bitcoin Is Scam

The wisest of all nations who have already foreseen the collapse are China and Russia. The USA National debt has crossed 21 Trillion Dollars while the fact is that if you put all the Gold of the world in one place they will hardly cost more than 10 Trillion Dollars. Where did those extra 11 Trillion dollars came from? Of course they were created out of thin air!

Civil uprising and inflation helps to depopulate the earth, which is what the elite strives for so much in order to achieve their goal of global domination. This time the biggest victims will be US citizens themselves.

A human acts as a human with belly full but it wont take longer to turn him into an animal with hunger and thirst as seen in Arab spring 2008 and Great depression of 1930s.

The elites have already prepared the tool to reassemble the world under a new umbrella of one world currency. Once the Dollar collapse occurs, the elite will uncover their second greatest and fraudulent monetary system - The Electronic Currency also referred to as Digital Currency, Virtual Currency or Cryptocurrency.

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