"Paper is poverty. It is only the ghost of money, and not money itself." - Thomas Jefferson
"In no country of Europe," a delegate noted, "is paper money legal tender, but only gold and silver coin."
US constitution section 10 article 1:
"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
They try to make those that say it is in the constitution that FIAT isn't legally money look like idiots, they call them conspiracy theorists.
Isn't that what this article says? Either way, the ponzi scheme - which the US government accounting agency has called unsustainable for decades (every year they publish a report where they say the same thing) - is about to collapse.
The scam has been made complex enough so very very few will understand it, and the few that do understand it can be dismissed as "weirdos" and "pariahs", which luckily for the banks is already the case since the smartest people in the world, the 1 in a million are by definition alone misunderstood and appear weird to common folks.
I can't explain this perfectly, and the greatest obstacle, the reason why this ponzi scheme has kept running so long is because people are too dumb to understand it, and don't care but they don't care because they don't understand how hard they get scammed.
I posted this several times but it's never super clear.
I found a clean video where it gets explained quite well, and on top of that he manages to resist the urge to get arrogant or insult the public, which is completely impossible for me.
"The Biggest Scam In The History Of Mankind - Hidden Secrets of Money Ep 4" by MIKE MALONEY.
And not just for novices, I recommend this to every one that hasn't watched it yet.
We really have to get rid of our bank overlords.
Here is a list of some countries spending to GDP. France is at the very top of the list of course, they almost make the USA look reasonable.
There is a bigger list on wikipedia.
Capitalist countries steal the most from their population to "redistribute" (redistribute to the public what they stole from the public one way or another).
Socialist countries steal the least from their population to "redistribute".
Biggest scam I have ever seen in history.
Haha France is the biggest spender but the shithole with the largest deficit is... tada! Venezuela!
In 2020 I expect the USA to steal the top spot in both categories from France & Venezuela.
The USA have not just robbed their own people, but also the whole world (because the USD is the reserve currency), so that scam is going to collapse too...
They have taxed the world for decades, and when that falls alot of indirect income is gone. Which will make the depression much tougher for them. And interest rates are already at zero.
It's an absolute catastrophy for this country, they have no way out. It's going to go boom!
But most importantly, get rid of the banks monopoly and stop using the population to give them money directly or indirectly.
Until it doesn't, and the economy gets another 1929. Remember that QE (printing money) was used extensively in the early 1900s BEFORE the crash; the term Ponzi scheme originates from one Charles Ponzi starting in 1919. Yet after 1937, the US - and the world - achieved the most prosperous record in modern history.
Ponzi schemes never end in prosperity.
After 1937 the world what? Never heard of WW2? o.0
Hopefully this time there is no world war and no concentration camps.
Murica will get hit very hard and they're so not prepared.
Civil war, big paradigm shift, extreme poverty, and lose its reserve currency status (from which alot of wealth was derive).
I didn't say the country would return to paleolithic. They'll run into big troubles, and the world won't have a superpower anymore.
The Soviet Union with socialism & large Oil reserves lasted 40 years. The USA with bank run capitalism lasted 70 years.
Both systems are bad, but it's a clear win for capitalism here, much better than socialism.
You will notice until the end of the Gold Standard it was a very fixed value that did not change much, sometimes sitting at the same price for decades. Great Britain did roughly the same thing in the 1800s when it was the world's reserve currency. However, rather than changing the price, the government could also print money by just changing the dollar's peg to gold (debase the currency), though that opens up a whole can of worms. It was undoubtedly a worse system than what we have now.
People often cite WWII as the beginning of recovery from the depression, but in reality WWII was a fight for predominance in a post-recovery world. Recovery was well on its way with WWI having spurred many great inventors and inventions and those products were already beginning to bear fruit by the late 1930s.
If U.S. collapses into Civil War right at this very moment, the only beneficiary will be China, who will use its momentum to rapidly wipe India off the face of the planet and then become uncontested. Last time China was the predominant world power they spread the Black Plague and were partially responsible for the dark ages. So yea, considering we now have nukes instead of swords, paleolithic sounds about right. China is literally a world-ending threat. Even the Soviet Union or Nazi Germany would've been a better world power than China.
If you are wondering why; the reason is simple. The Soviets were very industrious though brutal and the Nazis were very technological though insane. China's entire economy is based almost solely on theft. What happens once they have nobody to steal from?