Unfortunately,
no country currently backs its currency with gold, but many have in the past,
including the U.S.; for half a century beginning in 1879, Americans could trade in $20.67 for an ounce of
gold. The country effectively abandoned the gold standard in 1933 under FDR. The government held the $35 per ounce price until August 15,
1971, when President Nixon under pressure from the elite, government and
the FED, completely severed the link between the dollar and gold. This
created what is known as a “fiat”(or unbacked) currency which is worthless, as
it is not backed with any store of value (i.e., gold, silver, platinum, etc,).
This makes “money”, debt.
However, in recent reports by some experts, it's said that China is buying up gold at a tremendous rate in order to back their own currency. Interesting.
This action allowed unchecked printing of
paper currency and manipulation by the elite of markets around the globe. One
of the first things that were perpetrated was the purchase of treasuries…with
this debt. The foregoing is the major reason of the 2008 crash, crashes
previous to that one, after 1971 and the monster of a GLOBAL crash yet to
become reality.
This is one reason for this blog...to keep you informed.
Another, is to offer a solution or two.
Some
folks complain that I am a “doom & gloom” person. Far from it. All I am
doing here is to try to keep you informed, so you do not have to experience
TRUE “doom & gloom”. To me, that would be seeing you fighting in an almost barren grocery store, with others over a can of beans. It doesn't have to be that way, but the elite have created the onset of this possibility, and they don't care...I DO.
