Council on Foreign Relations on U.S. Dollar: “An Absurdity… Supported Only by Faith”
May 9th, 2007The End of National Currency is the most astonishing thing that I have read since Zbigniew Brzezinski’s appearance before the Senate Foreign Relations Committee earlier this year.
Foreign Affairs is the most important and influential journal of International Relations in the world. It is the mechanism by which the Council on Foreign Relations disseminates the game plan to people in polite circles. CFR’s positions on core issues represent the raw building blocks for most of the gibberish spewed by the corporate media and the maniac fascist policies of the “developed world.” Publications like the New York Times and the Wall Street Journal are dumbed down versions of Foreign Affairs that are published daily. Television news is the same thing, but dumbed down again. Foreign Affairs is also where politicians from several countries look to determine what’s safe to say, which policies are doable and what needs to be done. A degree in International Relations is largely a certification of a student’s ability to internalize CFR jargon and concepts.
Got the picture?
Now, what did the most important and influential journal of International Relations in the world just say about the U.S. Dollar and the global economy?
In summary: The U.S. dollar is an “absurdity” and the only way to stave off a global disaster is for most countries to join one of three global currencies, based loosely on: the dollar, the euro and a pan Asian currency.
I encourage everyone to read The End of National Currency in its entirety, but I’ll quote some of the more remarkable parts below:
The dollar’s privileged status as today’s global money is not heaven-bestowed. The dollar is ultimately just another money supported only by faith that others will willingly accept it in the future in return for the same sort of valuable things it bought in the past. This puts a great burden on the institutions of the U.S. government to validate that faith. And those institutions, unfortunately, are failing to shoulder that burden. Reckless U.S. fiscal policy is undermining the dollar’s position even as the currency’s role as a global money is expanding.
Four decades ago, the renowned French economist Jacques Rueff, writing just a few years before the collapse of the Bretton Woods dollar-based gold-exchange standard, argued that the system “attains such a degree of absurdity that no human brain having the power to reason can defend it.” The precariousness of the dollar’s position today is similar. The United States can run a chronic balance-of-payments deficit and never feel the effects. Dollars sent abroad immediately come home in the form of loans, as dollars are of no use abroad. “If I had an agreement with my tailor that whatever money I pay him he returns to me the very same day as a loan,” Rueff explained by way of analogy, “I would have no objection at all to ordering more suits from him.”
With the U.S. current account deficit running at an enormous 6.6 percent of GDP (about $2 billion a day must be imported to sustain it), the United States is in the fortunate position of the suit buyer with a Chinese tailor who instantaneously returns his payments in the form of loans — generally, in the U.S. case, as purchases of U.S. Treasury bonds. The current account deficit is partially fueled by the budget deficit (a dollar more of the latter yields about 20-50 cents more of the former), which will soar in the next decade in the absence of reforms to curtail federal “entitlement” spending on medical care and retirement benefits for a longer-living population. The United States — and, indeed, its Chinese tailor — must therefore be concerned with the sustainability of what Rueff called an “absurdity.” In the absence of long-term fiscal prudence, the United States risks undermining the faith foreigners have placed in its management of the dollar — that is, their belief that the U.S. government can continue to sustain low inflation without having to resort to growth-crushing interest-rate hikes as a means of ensuring continued high capital inflows
…
At the turn of the twentieth century — the height of the gold standard — Simmel commented, “Although money with no intrinsic value would be the best means of exchange in an ideal social order, until that point is reached the most satisfactory form of money may be that which is bound to a material substance.” Today, with money no longer bound to any material substance, it is worth asking whether the world even approximates the “ideal social order” that could sustain a fiat dollar as the foundation of the global financial system. There is no way effectively to insure against the unwinding of global imbalances should China, with over a trillion dollars of reserves, and other countries with dollar-rich central banks come to fear the unbearable lightness of their holdings.
Ordo ab chao.
The CFR created this mess to begin with. Its fingerprints are on every policy, politician and corporation involved with the funneling of wealth up to the top of the pyramid.
Now what?
What do we do now, as we find ourselves gazing into oblivion, into the chaos that They created?
Seek order with fewer national currencies, my son. Trust us. We’ve gotten you this far. We have almost reached the promised land of a global federal government, with a single currency, with no dissent, no war, no crime, no hunger and no disease and…
But before we can move to the single currency, we need to move to three:
A future pan-Asian currency, managed according to the same principle of targeting low and stable inflation, would represent the most promising way for China to fully liberalize its financial and capital markets without fear of damaging renminbi speculation (the Chinese economy is only the size of California’s and Florida’s combined). Most of the world’s smaller and poorer countries would clearly be best off unilaterally adopting the dollar or the euro, which would enable their safe and rapid integration into global financial markets. Latin American countries should dollarize; eastern European countries and Turkey, euroize. Broadly speaking, this prescription follows from relative trade flows, but there are exceptions; Argentina, for example, does more eurozone than U.S. trade, but Argentines think and save in dollars.
But wait, there’s one more thing:
Gold.
This following paragraph is so weird, I had to read it several times. I still don’t know what to make of it:
So what about gold? A revived gold standard is out of the question. In the nineteenth century, governments spent less than ten percent of national income in a given year. Today, they routinely spend half or more, and so they would never subordinate spending to the stringent requirements of sustaining a commodity-based monetary system. But private gold banks already exist, allowing account holders to make international payments in the form of shares in actual gold bars. Although clearly a niche business at present, gold banking has grown dramatically in recent years, in tandem with the dollar’s decline. A new gold-based international monetary system surely sounds far-fetched. But so, in 1900, did a monetary system without gold. Modern technology makes a revival of gold money, through private gold banks, possible even without government support.
Woh. Hold on a second.
On the one hand, “A revived gold standard is out of the question,” but on the other hand, “private gold banks already exist, allowing account holders to make international payments in the form of shares in actual gold bars. Although clearly a niche business at present, gold banking has grown dramatically in recent years, in tandem with the dollar’s decline. A new gold-based international monetary system surely sounds far-fetched. But so, in 1900, did a monetary system without gold. Modern technology makes a revival of gold money, through private gold banks, possible even without government support.”
So, we’re going to have a few “absurd” fiat currencies and private gold banks that will be used to make international payments in the form of shares of actual gold bars? Did the CFR just transmit a veiled and obscure tipoff to the wealthy people who read their rag?
Or is it something else…
I don’t know what to make of it. That paragraph is such a non sequitur in the article that it practically slaps you right out of your chair as you read the thing. Steil points out that rape and plunder (Globalization) can’t happen with currencies that are tied to things. So… Why mention private gold banks that can facilitate international payments?
It gets weirder. This article was published within days of the U.S. Government’s shut down of eGold, the oldest private electronic gold bank. On the same day that the indictments came out against eGold, Brinks, a U.S. firm that provides bullion vaulting services, dropped BullionVault as a client. BullionVault allows individuals to easily and efficiently move their fiat currencies into physical gold, but it does not allow payments to other parties. [I am a satisfied client of BullionVault, by the way.]
Are factions of the Elite in open conflict? Do some of them want access to these gold services, while others, mainly U.S. dollar interested parties inside the U.S., view those same services as a threat? Is Steil warning governments to shut down these services, lest individuals abandon their “absurd” fiat currencies?
I don’t know what’s going on here, but I’d really like to find out.
Research Credit: Jackanapes
The author of this otherwise informative article, after 6 pages of impressive effort, ruins all credibility for his piece in the last paragraph when he says “we need to return to the sound money policies… of Paul Volker and Alan Greenspan”.
Alan Greenspan. Sound money policy?! What on earth could he mean by that?
The New World Order drums are beating. I would still rather store some physical gold (rather than online gold) at home or in a safe deposit box (not a bank, I don’t trust them).
I like how Kevin calls it the internatonal casino. However I feel forced to play it otherwise I don’t stand a chance in hell of getting head.
This whole financial system really makes me wonder what to do with surplus funds I have from saving every month:
Stocks? Some say we are in a bubble and that it could crash.
Cash? Then you earn interest but once you take inflation into account you almost always lose with regards to purchasing power. Currencies are crap and lose value (guess the least crap one is the Swiss Franc).
Precious metals? I like this option but some think this is a bad idea too for storing wealth.
Property? You must be joking, thats the biggest bubble of them all and I don’t believe in mortgages!
Pensions? No way do I trust these things (I cancelled mine a few months back).
SO JUST WHERE ARE YOU MEANT TO STORE WEALTH???!!!
Help me figure this out please…
couple things worth noting on this one, relating to the potential for a new NA currency discussed about the intertubes.
http://www.spp.gov/press_releases.asp
http://www.canada.com/topics/news/story.html?id=6a5f79ee-4478-4974-a752-5677d4a0d070
interesting discussion on amero at kitco forums
https://www.kitcomm.com/archive/index.php?t-1639.html
happy trails.
Actually, this makes perfect sense to me. For thousands of years peasants had little or no access to gold. In classical antiquity, commoners were paid in copper or silver at best. Gold was for transactions between kings.
Now consider the casino at Monte Carlo before WWI. The players bought chips with gold backed currency, sometimes actual gold coin. Then one would play dice, cards, or the roulette wheel with the chips. If things went well, a winner would cash in the chips and exit the casino with more gold backed currency or gold.
What is being said is that the global casino needs to be run on chips, there isn’t any way to continue the inflation indefinitely with any sort of commodity backed currency. And the system needs the endless inflation to function. For one thing, the gullible middle class players can be enticed to keep playing in the casino because their stack of chips grows and they are fooled into thinking they are winning the game.
Elite players understand that the chips are intrinsically worthless, and have value only to the extent that they can be exchanged for real property or commodities. The elite players want to have a stable store of wealth, they do not want to go home with a pile of chips. Thus, the author conceeds that gold exchanges will inevitably arise to fill the monetary needs of the elite.
Now the messing with eGold and BullionVault does seem to go against the author’s thoughts. I would say that the offence by these firms was their public nature. Discreet private gold banking by patricians is perfectly acceptable. Letting the proles and plebs do gold banking just isn’t to be allowed, they are supposed to stay inside the casino and play with chips forever.
Of note, there is a lot of private gold banking and trading going on. Even in NZ there is a 24/7 biometric security vault. At all hours, there is a steady stream of affluent Asians coming and going to access their boxes and trade in private meeting rooms.
My take:
In a world where ownership of all things has passed into the Hands of a very Few, it will be more efficient for the Owner Class to privately ascertain and allocate value via the most stable value-holding and transferring/disseminating/exchanging source available: gold.
They’ll continue to use the three remaining fiat currencies to forever stealthily rob the public of all the wealth it creates or discovers.
I believe the attacks on BuillionVault and eGold are simply tactical maneuvers designed to place all gold into Their hands and out of the hands of any non-Illuminated (and, eventually, out of our–the Non-Affiliated Illuminated–hands), which would be a natural evolutionary step in a politico-economic system being forcibly changed from:
rabid individualistic, libertine libertarianism
to
categorical totalitarianism.
After reading this post, and for the first time in a long time, I am actually frightened by Their machinations.
Why? For this ABSURD dual financial system to be realized, the human population has to be drastically reduced.
That’s not the scary part; the scary part is as follows:
THEY deal in probabilities; if the essay in this post made Foreign Affairs, it means the aforementioned world population reduction has a high probability of being realized, without consequence for Them.
And I’m certain I’m high on the hit list, being one of the Non-Affiliated Illuminated.
This article also makes me more convinced that the fortuitous events (for Them) that guarantee mass starvation and mass death, i.e. super wheat blight and bee deaths on a massive scale, are contrived, probably via genetically-engineered parasitic sources.
Was the Atkin’s Diet fad a massive experiment to to ascertain the behavioral-modifying effects, in a social context, of a diet totally lacking in nutrient (fruits/vegetables) and mega-fuel (grains) sources??
@ Alek
I think you’re onto it re: the public nature of the services.
Regarding diet…while reading about the Irish potato famine(s) of the 19th century, I found an astonishing fact:
The average Irish peasant consumed between 7 and 15 LBS of potatos a DAY; this constituted most of their diet – very few fruits or vegetables, and meat only once or twice a year on holidays. It’s amazing what the human body can adjust to.
Alek does explain this best, and echoes my sentiments. Two systems, one for the secret Them (inflation stabilized and backed by hard assets), and one for the public masses (fiat script, backed by empty promises).
Well done, sir.
for SW –
The only things I want to spend my money on are things that can be hauled or herded to another location. If my farm was owned free and clear I’d work on the house and out buildings more, but not when the bank still owns the bulk of the place.
There is a big difference between land and real estate. Don’t forget the age old term “wealthy landowner”
As we powerdown, fertile ground and timber will become even more valuable than they are today.
Its a start of the money wars.
“Only the use,not possession is illegal.”
http://biz.yahoo.com/prnews/070508/cltu104.html?.v=24
orwell poduced a fascinating world in ‘1984’. one that seemed to consist of several interrelated feedback cycles (i would argue that money is simply a feedback mechanism typically used to guauge your ‘score’ and reward at an appropriate level).
it was understood that the proletariot was kept poor, ignorant, and busy with any number of illicit activities despite the potential for ‘illicitness under the law’ as a very minor screw the system type scenario actually being fed by the system as it were. (war on drugs anyone?)
the middleclassed ‘outerparty’ remained under tight control as they were slightly more educated and somewhat aware, however the potential for ‘thoughtcrime’, indoctrination, and constant surveillance essentially islands these individuals within the system as they are its admin support. a slightly higher standard of living is provided as the necessary compensation for being ‘doubleplusgood’ within the system. however, the potential for admin knowledge/access to be dangerous when used in teams is high enough that ‘honey potting’ needs to used. used in conjunction with surveillance to draw the naive away from an actual problem into a second layer of finer surveillance and behaviour controls via ‘the book’ and its handler. (it’s been discussed in several places regarding the nature of revolution and the need for it to be backed by wealth, typically it’s middle income earners who demonstrate the most resolve in assisting/knowledge and bankrolling. the irish should be an interesting example here, amoung others. limiting the use of anything other than a fiat currency, especially one on the drop reducing purchasing power abroad for equipment/supplies. if it goes to a regional currency to be used only in NA then the opportunities for buying support becomes quite a bit more difficult. just another roadblock thrown up in the way.the removal of convenience, semi security, and any sense of anonymity [thoroughly washed out by Kevin’s great analysis of the web] that an online gold vendor may have provided. this is why it is always better to keep assets close i believe.)
finally we come to the manufactured perpetual war of Oceania, Eurasia, and Eastasia. a war full of soundbites and hate, and reflected in the infrastructure back home as a decaying mess lit only by the pristine ministries. could the dogs of war be at the gate at any moment? apparently so, but it was a blase sort of feeling it seems. how much worse could it get? but haven’t they been saying that for a long time now? but still, we must be prepared….(about as prepared as they were for new orleans apparently… )
it’s fine to have masses of people out there, they just need to be ‘kept’ until they stop being useful or productive. at the first sign of trouble there will be a bloodbath, it will be misdirected, and things will ramp from there. the collective will of cities may have had an effect on the circumstances and explains the heavy urban training done with NA type settings. to be perfectly frank, i’m dreading the end of the iraq war unless all those mentally unstable troops who have been killing civilians move on to iran (definitely bad, don’t get me wrong). i could see a potentiality where these unmoralcompassed soldiers now have the experience of having killed somewhat indiscriminately in the field, now have a lower tolerance for more, and come back home to mobilize for the next katrina…. just take a moment and think what the recent situation in los angeles might have looked like with soldiers instead of police…
peace guys, hopefully that wasn’t too rambling, still first cup of coffee.
“I like how Kevin calls it the internatonal casino. However I feel forced to play it otherwise I don’t stand a chance in hell of getting head.”
Did you mean “getting ahead”? Or are you refering to
how the internet has offered many types of openings to many types people?
The author of the paper is Ben Steil. He also wrote a very good piece entitled Digital Gold-A flawed Global Order” (or something close to that).
Mr. Steil says,
“Of course, the status of internationally accepted money is not heaven-bestowed and there is no way effectively to insure against the unwinding of “global imbalances†should China, with nearly $1,000bn (€755bn) of reserves, and other reserve-rich central banks come to fear the unbearable lightness of their fiat holdings. Digitized commodity money may then be in store for us. Gold banks already exist that allow clients to make and receive digital gold payments—a form of electronic money, backed by gold in storage—around the globe. The business has grown significantly in recent years, in tandem with the dollar’s decline.
As radical and implausible as it may sound, digitizing the earth’s 2,500-year experiment with commodity money may ultimately prove far more sustainable than our recent 35-year experiment with monetary sovereignty.”
From what I can deduce, (do a search on digital gold steil) it sounds like if either of or both. If Central Banks do not regionalize or reorg to the markets satisfaction, digital gold could become a store of value. (It already is toa degree)
My best guess is it would earn no interest and would float in relation to the value of fiat currencies, be it 3 or 50.
Is it possible that it would become the currency of choice? I cannot say, but Mr. Steil does not rule the possibility out.
In 2003 The Bilderberg group talked about creating a ‘Federal Reserve Gold Certificate’ , which would be tied to gold/dollars in circulation/dollars owned by foreigners/etc. The plan was to get this Gold Certificate out by the new bull market … which is to start around 2016 (in other words, right on time based on the cyclic business cycle).
I don’t remember the article that I read this in, but considering that gold is in A bull market for at least 2011 with a possible 2015 or so as a peak; this is a great time to get this gold certificate going. After all, nobody will accept a one world currency if it’s not tied to gold (initially).
~Demon
@dermot
Spuds are part of our strategic plan, and that’s not because my last name is Flaherty!
😉
# Anonymous Says:
May 10th, 2007 at 8:58 pm
“I like how Kevin calls it the internatonal casino. However I feel forced to play it otherwise I don’t stand a chance in hell of getting head.â€
Did you mean “getting ahead� Or are you refering to
how the internet has offered many types of openings to many types people?
Sorry, I meant to say..getting Ahead! Fat fngers I guess…
I thought it was fairly clear what he’s saying (at least it was to me). I believe he was saying that NO GOVERNMENT will not adopt a new gold standard. However, those who want a gold standard can have it privately, through digital gold, like e-gold, which I think he is implying will become ever more popular as an alternative money system and eventually may serve as a international currency on the internet.
AuThor is correct, this came from Mr. Steil, the author of this article: http://www.cfr.org/publication/12346/digital_gold_and_a_flawed_global_order.html
From that article, you can see that he basically thinks gold-backed money is a better idea at least in some ways.
His words: “As radical and implausible as it may sound, digitizing the earth’s 2,500-year experiment with commodity money may ultimately prove far more sustainable than our recent 35-year experiment with monetary sovereignty.”
Can you believe the same man wrote that?
End the Federal Reserve & eventually return to a gold standard.
[…] Hmmm, if you have the means, buy gold. That’s in the above article also. […]
Buy gold in physical form,sovereigns or mapleleafs or krugerands.For the balance try a Govt guaranteed facility,The Perth Mint. The Nz and US dollars are overvalued,by aprox 20 and 30 percent respectively.Time to bale out of them imho
My comment is about the fourth paragraph down: “In summary: The U.S. dollar is an “absurdity†and the only way to stave off a global disaster is for most countries to join one of three global currencies, based loosely on: the dollar, the euro and a pan Asian currency.”
In 1906, a Catholic priest, the son of the Archbishop of Cantebury, wrote a book about the changes that would be happening in the fields of religion, politics, and science. Because of his position in society he knew the plans of those who intended to rule the entire world. The title of his book was, “LORD OF THE WORLD.”
In the field of “politics” he said that the world would be organized into three super-nations which would be Europe, the North and South American continets, and Asia. And, in order to control the people, there would always be a war going on between any two of the three super-states.
In the field of religion, Rev. Benson said there would be a one-world Demonic religion that worships Lucifer.
First, I disagree with the description of Foreign Affairs as “the mechanism by which the Council on Foreign Relations disseminates the game plan to people in polite circles.” As bob m #12 intimated, CFR is an Owellian Construct with a secret agenda and a public relations department who’s job is to leak information cryptically. They don’t want you to decipher their blather unless you have the decoder ring.Fortunately there are a few blokes who are onto the ruse.
bob m. had some further insights, which may have been more specific had i been able to deduce them.
also into the mix was alek #4 who nailed the two-tiered solution, with the gold for the elite.
Back to the original condemnation of the dollar, due to mismanagement by the American Institutions’ fiscal policy: Helllooo, they are all CFR-oriented. Shades of pot calling kettle black.
This is Hegelian Dialectic at work, identifying the Government as villain, yet it will be the American People, and all who hold dollars, who will take the fall, regardless of the fact that it is the Fed which determines monetary policy.
Citing a favored economist, the heretofore sanctioned fiat Dollar is now propped up as the Straw-Man absurdity. This is a clear signal that the dollar, like every national currency, is to be trashed, if the globalists have their way.
The original essay is 6 pages. The more I examined it the more fodder I saw and the less meat.
In the second paragraph of page one, the author (Steil) cites the IMF for blame for endorsing failed “national exchange-rate and monetary policy regimes.” In his eyes, both the IMF and the various “national regimes” (scary word usage – regime) are to blame.
Next, he cites the anti-globalization economists (another straw-man in the making) for absolving nations and placing the blame solely at the feet of the IMF for demanding some forfeiture of sovereignty in exchange for credit (IMHO, SAD BUT TRUE).
In the third paragraph, he avers this to be “misdiagnosis” and that it was the NATIONS who destabilized the capital flow by, in his words, “asserting “sovereignty” over money — detaching it from gold or anything else considered real wealth.” This is not just bad logic, it is diabolically Hegelian, and it smells like airplane sewage on hot tarmac. The writer must know nothing of the long history of Anti-credit, anti-National Bank U.S. Presidents from Washington and Jefferson to Jackson. The continual and loud alarm was that sovereignty was only possible so long as the country printed its own money and backed it with metal! The point of the Revolution was to get out from under the British Financial Establishment!
It was the International Banking Cartel (cabal) which secured it’s foothold by a surreptitious passage of the FedRes ACT on the last session before Christmas Break, 1913, when all but the conspiring congressmen had gone home, traditionally skipping the afternoon session. It was the Fed ACT which instituted credit and fiat currency, and it was a scam to siphon off the wealth of the United States. It still goes on today. The Fed is a Privately-owned bank. The charter allows them to Print notes without backing (creation of “money”), and to loan the face value to the nation, so that We can purchase the notes. Originally, and until our gold reserves were completely exhausted, We were required to purchase the notes, or pay off the loan, in gold. We ran out of gold in 1933, and the Unites States of America went bankrupt. The UNITED STATES became a corporation, and the future earnings of Americans was the collateral for the “New Deal.” Now, and since the Bankruptcy, the only way, in this legalistic corporate environment, which we can increase the monetary supply, is to BORROW MORE MONEY! If this does not scream ripoff, I don’t know what does. One of the reasons Kennedy was done in was because he began printing real money from the treasury! Johnson killed it (and helped kill Jack). Kennedy knew the scam and was trying to do the right thing.
Shocking? INcredulous? The documentation exists.
It is the agenda of the global groups to destroy sovereignty by undermining the currency. They have learned to deceive by being one step ahead of the game. They make the definitions, and they call the shots. So when they say it’s now time to give up silly notions of national currency, well it’s national currency in NAME ONLY. They already took it 100 years ago, and have been bleeding it off ever since. They are whoring financial vampires.
So I wouldn’t trust that propagandist with anything, and i damn sure wouldn’t waste my time reading his crapola, or anything else the CFR puts out, except to debunk and expose it for the treasonous Globalism that it represents.
This is the ruse behind the fed that makes it a treason. The CFR, The IMF, the World Bank, are all scams to Milk the wealth of america and usher in the global agenda, and the author is a double-speaking treasonous con artist.
in usa already the emergency laws requires banks to seize deposit boxes for uncle sam who gives customers a ticket like iou if you are luck filled – ask your local bankman, he will blush, he knows – also check fine print on your mutual funds, they can also go poof, leave you dry – your broker forgot to mention it
the real money laundries are citibank bcci chase coutts vatican etc and this is known because the drug trade is hundreds of billions, this does not happen with no approval – they know where the dirty money goes
do not forget the gold in wtc taken out while everyone watched made-for-tv-movie-reality-show near the tops
http://www.8TheState.com
this is never about crime it is about unapproved crime and the little people who belong back on the farm with the other animals, not building wealth in private like their darwinian royal betters who prove it by rigging systems to suit them, then calling us the crooks if we dare challenge their augustnesses
queen of uk – federal reserve – never audited – no oversight – private accounting, private shares, mystery owners
you thought bill gates was richest man on earth well – any dummy knows it is the persons who owns the money printers
read from 1892 depression
http://www.michaeljournal.org/bankphilo.htm
so think about it who do you prefer, petty criminals using egold or mega-pros rubbing you with federal reserve toilet paper?
the iraq war the iran war all same cause the feddy paper must not face competition – the arabs and persians have the havalah (?) system of moving money too – very efficient – and the arab dinar gold they want to resurrect – very sinful of them must stop at any cost to save cfr world empire dreams
a dollar is an amount of silver not a paper ticket
usa constitution says coin, gold-silver, not monopoly money
paper dollar 99.99% of its value stolen – called “stability” by the fed
president wilson said he had betrayed his own country
now the crooks want usa-canada-mexico ameros
citibank already has them in the vault ready for launch
to keep you farm animals generating wealth to siphon again
they think we’re too dumb for their brilliant crimes
what all the wars and laws are about is making damn sure to have
a siphon attached to every individual person and corporation in the
system so the trillionaires can stay in control
a boot stomping on the human face forever
-1984
the way out is silver-gold and marketplace third-party non-government
open-process full-video auditors not government regulation
currencies backed by whatever allowed to compete in market
no more plunge teams and deep divers
crime is not the method of money but the act
they want to make it the money
they claim they are so dumb they can’t catch without panopticon
but so expert only they know how to manage money systems
i don’t buy it
The author is wondering why are just the manipulators interested in the goldstandard. As far as I remember reading, they want their gold coins to be imprinted with some bar code or chip to “legitimize” as currency, leaving gold as just an industrial material. Would they do all this toil just to give their latest scheme a more “trustworthy” colour?
So what are ‘They’ going to do if I will not accept EITHER gold or any of their worthless script fiat Parker Bros. Monopoly funny money to sell the FOODSTUFFS I grow and raise on my property?
The human digestive system can’t extract calories, vitamins and minerals from GOLD nor is ink saturated pieces of script very nourishing.
The economic and financial doctrines of “Social Credit” and a return to sound nationalism based on Natural Law are the only avenue left for our world’s globalized systems to avert collapse and destruction.
From a fundamental economic perspective, gold is just as worthless as any other currency. Let’s say there’s mass starvation, no heat, and icy winter and no exchange. You can’t eat gold and it won’t keep you warm. If you follow the money scheme back in history to ancient Babylon and Sumeria where it began, you’ll see that even gold is a form of fiat. That’s deconstructing the debate to the extreme, but it’s important to note. If you look at any anarchic economy like joint occupied Berlin in 1944-45, actual food, cigarettes, liquor, gasoline, clothes, become the means of exchange. If there’s a real or falsified, yet catastrophic either way, terrorist event and our just-in-time supply systems fail, most people will be much richer for stocking cases of whiskey.
As for sane economic policies, it could be said that things need to be re-regulated back to the state they were in as recently as the early 90s. Fiscal policy is a joke (“Duh, deficits don’t matter… Duh…”). Monetary policy has been turned into a smoke and mirrors trick for public consumption, in which we all keep our eyes on the Fed Funds Rate and pretend the CPI or Fed Poverty Level actually reflect what’s really going on, even though they are completely invalid statistics on what they purport to indicate. The most obvious and necessary action for monetary policy today is to raise the reserve requirement ration to protect the economy from loan defaults, but the Fed doesn’t even consider it.
What nobody seems to address is how OUR money supply is limited by those that control OUR money supply. In other words the problem is not so much with the validity or efficacy of money, the problem is that there is not enough of IT to go around based on economic theory which is at the root of the problem. Simply put, economic theory has so screwed up things that it is time to throw out current usurydebt economic policy and distribute free money for all as a start to be used for all in-common goods and services while retaining usurydebt for all un-common goods and services thereby establishing a REAL global economy based not on caste’s but on the efficient movement of goods and services worldwide.
What this simple change will do is mitigate if not eliminate all war, poverty, crime, disease, and social ill known to humanity and to our bio-bot cousins. Propserity, opportunity, growth, peace, love, understanding, and respect will be empowered for the good of all.
Details are at http://www.planetization.org/soulutions.htm
Simple solutions always solve complex problems.
Some fascinating articles on the coming North American Union, the New World Order, the coming strike on Iran, and the collapse of the American Dollar can be found over at http://www.mimico-by-the-lake.com. You have to scroll about halfway down the home page to find the links to them, (under the ‘Geopolitical News Reports’ banner), but they form quite a treasure trove!
There’s an archive of similar articles on the same site at http://www.mimico-by-the-lake.com/mystery.htm and even more towards the bottom of http://www.mimico-by-the-lake.com/politics.htm
About the quote: “Modern technology makes a revival of gold money, through private gold banks, possible even without government support.”
This is what I’ve been telling people for years. Not only does it not require government, it also does not require technology, modern or otherwise, or banks, of any kind. Human beings could simply recognize their capability and right to accept -or reject- whatever medium they like, as exchange, and no one can stop them. Gold is simply more formal and serious than chickens, or Monets, in that purpose. People do it all the time. They just don’t usually use gold for it. They use other things. But they could use gold. It would be easy. It would only take two people agreeing to do it. That’s all. In fact, I did it last time I sold gold bullion. The dealer accepted the gold in exchang for some silver. Fiat currency wasn’t used at all. He just took my gold bullion and gave me silver bullion for it. There was no bank, no government, nothing, just me and him. It is an old idea, one whose time has never gone away. Governments, however, have found in interest in obscuring these facts. And people, some of them being the excessiverly trusting creatures that they have become in the habit of being, have lost sight of these facts.
Crom Alternative Money – The First World Peace
http://cromalternativemoney.org/
Crom is arose as need to return to human dignity. The men are dignified as much as it is his price. There is one old saying reminds us that borrower is slave to the lender. How many dignified can be citizens as individuals and citizens as community, in the system which is fundament and basic link debit?
ABS/URD it is really simple answer
the private bankers who run all governments know better than anyone else, that, their paper is perpetual theft and gold is real wealth
so for insiders they cut deals in gold
gold is how B.I.S. already settles international accounts between private banksters who run business plan earth
but for little farm animals like you no such luck you are only allowed their chits whose value they control and change to transfer wealth from you as you work to them while they relax
think like them: farm animals eat hay in the cold barn so they can work for us in the morning, we dine on real food at the dinner table inside
they are talking about what to feed the farm animals (chits) to produce better food production (gold/true wealth) at the dinner table
Simply look at the mining industry players and it is hard to deduce that gold is anything but
“the ultimate form of payment” a quote which comes from none other than Alan Greenspan.
I suspect the push toward regional currencies will continue. The problem I see is that the interest rate appropriate for Germany may not be appropriate for Italy, etc.
I also suspect gold will remain a global store of value largely paper via the ETF’s and that the buyers of gold to date (from the Gordon Brown bottom in 1999 of roughly USD 258/oz.)are very smart money.
Those who control the bulk of the gold and the mines, ultimately control the fate and legitimacy of the fiat currency based Central Banks and their nation states.
The Feds are going after silver too. On September 13. 2006 the US Mint issued a “warning” that it was illegal to use the Liberty Dollar. Then on Tuesday, March 20. 2007 Liberty Services, the organization that promotes and distributes the Liberty Dollar, filed suit against the U.S. Mint in U.S. District Court in Evansville Indiana to enjoin the government from claiming that the use of Liberty Dollar is a ‘federal crime’.
At least they’re fighting back.
The Liberty Dollar is a popular silver currency (NOT legal tender) used by many folks as a private, voluntary, inflation-proof money system. It’s been around for almost ten years, and it has just now become a target. More info here:
http://www.libertydollar.org/ld/legal/legalissues.htm
I have a solution. It starts with, “R” and ends in, “E”.
For a longer term outlook on gold machinations by global elites, read “Gold Wars” by Swiss banker Ferdinand Lips
I have some questions about metal values. Who sets the value of gold, silver, platinum, copper, etc and with what, and what is this master valued ‘something’ at the top that is so valuable that this ‘thing’ is allowed to set the values, both in cost and in philosophy, for all so-called lesser things? Put more simply, what is the most important ‘thing’ to an economist, whether gold based or not?
The point I am trying to make is that it means little who or what your slave master is. Whether gold or fiat, if you let somebody else set values you are a slave. Limited money supplies create slavery for profit. In order to free the slaves, including you and me, de-limit OUR money supply and let freedom ring. Flood the free market with free foundational money. Pay US to consume monied lies with OUR money. Furhtermore, abolish all usurydebt for all in-common goods and services. Retain usurydebt practices for all un-common goods and services. Growth for all sectors of the newly reformed/refined global economic system coined as YOUtopia, where the economy is designed to empower YOU along with EVERYONE else.
Simple. Choose to acquire financial freedom by talking about how to best solve problems through basic, simple, viable economic reform where all win. In the meantime, simply stop believing monied liars. Stop paying to be a slave while offering a better system to replace what is clearly broken.
http://www.planetization.org/soulutions.htm
A “Federal Reserve Note” is not a U.S.A. dollar. In 1973, Public Law 93-110 defined the U.S.A. dollar as consisting of 1/42.2222 fine troy ounces of gold.
Council on Foreign Relations on US Dollar: “An Absurdity…Supported Only by Faith .
Reckless U.S. fiscal policy is undermining the dollar’s position even as the currency’s role as a global money is expanding….
Ted makes the point you cannot eat or heat yourself with gold or silver in an emergency but that misses the point of money.There is an tremendous economic difference over time. Money exist to arbritrage your labor for future purchasing power. How does that wheat taste from ancient sumeria? What does it trade for today?Gold found in that day is as solid today as back then. What other currency can match it? During the war cigarettes traded at a premium but who made out in the long run? The people who bought cigarettes with gold or who sold cigarettes for gold? Again what are those cigs worth today?
What’s going on?
Centralization of banking and credit – per the Communist Manifesto. In order to completely control the means of production, the (global) state must also completely control the “working class” (slaves of the state, actually…). With some mechanism like that provided by the Real ID act, a “worker” may be compelled to do anything – if he wants to buy groceries – because with that kind of totalitarian control, the state will control all production and distribution (including “redistribution” or state-sanctioned theft of property from “each according to ability – to each according to need”.
The criminal elites in the CFR actually consort with hard-core Stalinists (Democrats) and also softer but more insidious Trotskyites (Republicans) to accumulate all power to themselves. Power means control.
That’s what this CFR article is about.
Where, then, are we to store wealth?
Gold, silver, investment-quality diamonds and other semi-precious metals like copper, lead, brass, primers and powder (yes, I know primers and powder aren’t “semi-precious metals”, but you’d better have lots of those to keep your precious metals…). That’s where you keep your wealth, those and also in the “means of production”. Have some tools whereby you may do machining, woodworking and other manufacturing.
I personally have a couple of presses: a Dillon RL-550B, a “Rock Chucker” and a Lee. With these, I can actually “mint” my own “currency”, that in the form of .45 cal, .308 cal, .223 cal, 7.62 X 39 mm and .50 cal. “denominations” of semi-precious metal (as listed above). With these, I can buy my meat and bread while those whom I have transactions with – will be able to keep their precious metals.
Wow! All of the nuts are coming out of the woodwork in repsonse to this article! Pro and Anti-communist anti government diatribes, pro conspiracy theorists, Luddites, “Wrath of God” End Of The World whack jobs, and plenty of psuedo-intellectual Marxist drivel spouters. Who’s right? The only real money is gold and silver, in a box buried someplace safe. What if the feds make it illegal? An even larger underground economy evolves. Electronic money (gold and silver) is fine as long as it lasts, but it can vanish at the whim of a politician. Mogambo has it right, buy gold, silver, freeze dried foods, stock up on water and guns. And don’t forget the most important rule: Be a spectator, not a participant-Get on the roof with a case of (beverage of your choice) and watch the freak show as it unfolds.
After reading this article, I started to think a little deeper. I agree that the US dollar is nothing more than paper with ink on it and a fiat currency as is most other currency in the world. So that’s been established. It is a system which is most likely unsustainable.
But why precious metals? why gold? Essentially just as a dollar is paper with ink on it, gold is really just a hunk of yellow metal. It’s a soft metal so you can’t really build anything out of it. Or another way to put it.. if there was a nuclear armageddon tomorrow would gold be worth anything? Probably not because you wouldn’t need it for anything.
So to make the argument that fiat currencies are absurd, it is also arguable that precious metals being something “precious” is also absurd.
Where is the demand for gold, if its only purpose is to substitute standard for fiat currency?
I believe the monetary system, especially one that is global should be standardized on something that every modern civilization needs, an energy source. Such as oil if oil is phased out eventually.. whatever is used as the global standard of energy.
I just think that with gold being inherently useless, why is it any better than a fiat currency?
there’s no doubt in my mind the price of gold is, and has been, manipulated downward. The ONLY way the Elitist pigs can maintain control of their paper money world is to hammer the gold price at every opportunity. JP Morgan said it best: GOLD IS MONEY, NOTHING MORE. They’ve spent the better part of 100 yrs trying to teach people that gold is useless; a ‘barbarous relic’. They even teach Keynesian economics in schools today to perpetuate their system….Keynes economic theory is a complete crock. Basically, it’s socialist economic crap, and he ends it with: “who cares, we’re all dead in the long run.” You want a look at our future….you need look no further than Star Trek. Whenever they visit Earth, what do they find? Think….what is the “Federation”? It’s our NWO that’s been in place many years by their time…the World Government of their era. And, just what do they use for “money” in their era? Star Trek mostly skirts the issue; it’s rarely brought up…but they do give it away in one episode. Kirk tells Spock: “you want CREDITS? I’ll give ’em to ya”. Credits = digitized entries. I personally don’t have much faith in mankind; I believe we’ll lose this battle and be thrown under the totalitarian yoke of the NWO in due course….hopefully I’ll be dead by that time. Even some people talking here don’t understand why gold is money: … “Precious metals? I like this option but some think this is a bad idea too for storing wealth…” This individual clearly has no clue what gold really is, and why it’s the ONLY REAL money (along with silver)…and why it’s the BEST idea for storing wealth. In a nutshell, sleazebag bankers can’t print the stuff; they can’t debase gold like they can (and have been) with their currencies. Gold and silver will ALWAYS have real value…as much as these Elitist assholes want to legislate it away, they never will be able to. And they know it. Which explains their latest 100 yr old battle to make people “forget” about what gold really is: “if we don’t let ’em know it’s real money, they’ll never learn, and will want to use our paper monies”. And this campaign has worked, too (just read above). I think I read that 99% of Americans don’t own any gold bullion coins at all. Completely foolish and asinine. Gold was CHOSEN by people 3000 yrs ago as money; it’s the only money that was never “fiated” into existence. Many things were tried before gold: salt, cows, bushels of corn, etc….but gold was always determined to be the thing that people wanted most in exchange for their goods / work. In this manner, gold became “the most marketable money” in the world…..now, what properties does gold have that makes it such excellent money? These were described by Aristotle back in the 5th century BC:
1. it’s durable. It won’t evaporate, mildew, rot, rust, crumble, or break. Neither will silver. Everything else of value is subject to the ravages of time. Gold, and silver, are indestructible.
2. it’s divisible. So is silver. You can’t make change from a piece of land. A diamond can’t be split without destroying it’s value. A Van Gogh, ripped in half, is worthless. How do you sell half a cow? One ounce of gold is always worth 1/10th of 10 ounces…etc.
3. it’s portable. If you move, you can carry the wealth of a lifetime in your pockets. Obviously real estate can’t be moved. This is the reason lead, zinc and iron aren’t used for money. It takes too much to equate real wealth. And this is why silver is not as valuable as gold; it takes much more silver to equate a decent amount of wealth.
4. gold is consistent. There are no ‘inferior’ grades; it’s either gold or it’s not. Same with silver. There are definitely inferior diamonds out there….paintings can be counterfeited. Here in Florida, we have sinkholes. Part of your land can just collapse into a hole at any time (inferior land?).
5. gold and silver have intrinsic value. Gold is the most malleable of all metals, and it’s the most ductile, too. Silver is the element most conductive of electricity and heat, and reflective of light. Gold comes in second in these qualities. Gold is chemically inert; it doesn’t bind with any other elements. Silver not quite so, therefore it’s value is lower. Silver tarnishes (reacts) in air, and combines with other elements to make a few minerals (but not many).
But, by far, the most important factor of all is THEY CAN’T PRINT IT. Gold is “world currency”, and totally liquid anywhere. And I guarantee you gold will continue to appreciate in price as the sleazebags continue to debase their currencies. They’re forced to debase (inflate) now, or their entire system collapses. If their system collapses, they lose the one thing they covet most: THEIR POWER. So they won’t let their system collapse. Not until they’re ready to institute their NWO, that is. Most everybody is totally ignorant of all these facts, which is why I have very little hope of winning this war v the Elitists. The Elitists will keep this system together, until a time of their choosing, when they’ll blow it up. Then, all the ignoramuses out there will cry out: “help us”….and the Elitists will be only too happy to comply; the world takeover will be complete. The Patriot Act is a tool to further this end…when they’re ready. But meanwhile, debasement and inflation will be the order of the day…week…month….etc. Buy gold and silver, and at least give yourselves a chance to survive!
firearms,gold,and knowledge will be very valuable in
the future.
bill
Have you noticed that more businesses offer to “we buy gold” than businesses offer to “we sell gold”? If gold would be just another commodity, that asymetry would not persist.
The value and relative scarcity of gold can be documented by a single number. Divide all the gold above ground by the number of people living today. The result is something like 0.8 ounces of gold per capita in the world.
We live in a world which is constantly disintegrating due to the laws of thermodynamics. Death is one manifestation of entropy. Since life is ultimately about survival in time, we value gold becuase it gives us the illusion of eternal life (gold seems to withstand the erosion of time).
Gold is also related to energy. It takes a huge amount of energy ( = work) to produce one ounce of pure gold. Depending on the quality of gold ore, up to ten tons of ore needs to be processed with heavy machinery in order to recove 1 ounce of gold.
Many of the above remarks apply to all metals. We are mining the metals using huge amounts of fossil fuels. In time, these metals all corrode away. Over centuries, what we accmplished is to convert high grade metal ores into extremely low grade metal ores which instead of being concentraded in one place, are in fact dispersed in form of garbage and rust allover the world. In other words, the result of all our economic activity is the increase of general entropy.
Once the fossil fuels are gone (in less than 100 years), all the metals will be gone too (bridges rusting away etc). All metals will be very valuable in the future due to their scarcity.
The problems with fiat money are not exclusively due to evil government policies. Much of the decrease in the value of the Dollar during the past 100 years is in fact a reflection of the depletion of all natural resources in Noth America: We depleted more than 80% of all the oil in the US, more than 50% of all the natural gas, more than 70% of all the forrests and wild animals etc etc. Finance is always a derivative of the economic reality.
In Zimbabwe, by all definitions a collapsed economy, a nation where inflation is running close to 2000% annually and a single loaf of bread now costs more than the largest denomination of local currency available (despite ever larger denominations being printed), gold, silver, and similar hard assets are still prized and used for commerce and business transactions. In fact, a single ounce of gold is currently going for approximately Zim$6 million per ounce.
Source:
http://www.freemarketnews.com/Analysis/102/7202/richard.asp?wid=102&nid=7202
Apparently, that same Zim$6M ounce of gold will buy at least 600 loaves of bread on the black market, or did in March:
http://allafrica.com/stories/200703290819.html
This same story repeats throughout history, almost without exception, and why, even after Romes disintegration and collapse, Roman gold and silver coins could still be redeemed in Sassanid Persia (Rome’s longtime arch enemy), or even far away China.
Hard assets will always preserve value better than worthless debt-based script and more empty promises.
Suppose that, as an elite club , your objective is to create a one world currency issued/controlled by a one world central bank. You need first to establish a credible world central bank. A good way to achieve that is for your central bank to own as much gold as possible. Then your central bank can issue shares backed by actual gold bars. Those shares will be trustworthy. Later on your central bank just need to issue more shares than actual gold in its vault and lease its gold to other private gold bullion banks. And later on your world central bank can issue a one world fiat currency. This is a proven concept: it just needs to be established stepwise. CFR is not only evil but very smart.
I totally agree with the post #4 of Mr. Alek Hidell. (Q: Wasn’t “Alek Hidell” a nom de plume of the infamous, Lee Harvey Oswald? A: Yes!)
Unfortunately for the little people of the world, there are precious few means for acquiring or protecting wealth. EVERY MONETARY SYSTEM PRIOR TO THE PRESENT ONE HAS BEEN SMASHED TO PIECES UPON THE ROCKS OF POLITICAL EXPEDIENCY! The present system will be smashed sooner than later, as will all of the others that follow. Since most of the little folk owe more than they own, a global financial collapse could be tantamount to a wholesale revival of debt servitude.
The CFR has engaged in a very dangerous experiment over the past century. Their experiment has consisted of undermining “messy” democracies in favor of a return to power of the privileged classes. Rule by an enlightened aristocracy is supposedly more stable and much more susceptible to planning and guidance than a polity controlled by the rabble.
The European Union, the American Union, and the Far Eastern Union are merely transitional political forms on the superhighway to a one world government. This superaglommeration will have few vestiges of democracy. Hopefully, it will be reasonably benevolent. If you are a regular reader of “Foreign Affairs,” you will know that the CFR members believe that the present movement towards “one world” is unstoppable.
It may very well be unstoppable. However, if these bloated, arrogant plutocrats had a true understanding of history they would know some of the dangers of vast concentrations of power to a center. One such danger is — the security forces. Once rule is finally concentrated, security forces will be of paramount importance in safeguarding the aggregated wealth and the power that derives from it. These lean and mean tough guys will not tolerate forever the extravagances of an exclusive, landed aristocracy of philosopher kings. Then comes the bloody overthrow — then the erasure of the former institutions — then likely, the new dark age. I believe this is where the CFR gents and ladies are taking us.
The US today: no effective borders; 2% of the population owns 84% of the financial wealth (up from 48% in 1950); manufacturing hollowed out; jobs outsourced; real wages flat since 1974; baby boomers will retire to poverty; the 401(k) hoax; national debt at $12 trillion (the world GDP is around $33 trillion); etc; etc; etc!
If the dollar is truly a joke (and I believe that it is) then the joke is on us. When the laughing stops, will we rise up in a unified, terrible force demanding justice from those responsible? I doubt it. We will probably moan, “Thank you master, may we have another?”
And now a forecast: West Texas Intermediate Crude at 75.50 on the week ending August 3, 2007.