By Lee Diamond (about the author) Page 1 of 1 page(s)
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For OpEdNews: L D - Writer
Have you ever heard that before? Well, I have. It was in Petra, Jordan over the summer. Everyone outside the US realizes the US dollar is collapsing and will only sink further into the abyss. The people in Petra will not exchange goods for US dollars.
Open your wallet and look at one of the pieces of paper. What does it say on the top? It should say "Federal Reserve Note" aka an FRN. FRN's are very different from dollars in the traditional sense.
Dollars, prior to 1971, were backed by gold and silver, hence the silver dollar - a real dollar. The people knew that the dollar was as good as gold or silver. After 1971 when Nixon closed the gold window, the dollar went into free fall and moved ever closer to its intrinsic value of zero. Today you need about 20 FRS to get one US dollar (silver dollar).
Note: the paper market has decoupled from the physical one. Search "silver eagle" on eBay and get the physical price. Go to kitco.com and get the paper price.
I say "to get" and not "buy" because "buying" is a misnomer. I no longer think in terms of buying things. You are simply exchanging FRNs for goods and services or gold for goods and services. I now see all exchange for goods and services as a ratio, such as FRN/pizza or Gold/Oil.
As the Federal Reserve prints money to bail out their pals on Wall Street, many just say it's just inflation, the increase in the money supply. It's actually much more insidious that just inflation. It is an orchestrated scheme to debase the US currency and the owners of the privately held Federal Reserve Bank are responsible.
The biggest secret is that the FRNs you have are only worth the paper they are written on. They are a fiat currency backed by nothing. As Voltaire said: "Paper money eventually returns to its intrinsic value - zero." The fact that people still exchange goods and services for FRNs is a mystery.
As banks and other financial institutions fail and get bought or bailed out at the US tax payer and FRN holder's expense, the world must realize that root of America's cancer is the Federal Reserve Bank and the system that it controls. The politicians and Hank Paulson are co-conspirators, but they are not the root of the problem. Additionally, it's not sacrificial lamb Ben Bernanke who is at fault either. It is the owners of the privately held Federal Reserve Bank, which is not Federal nor does it have any reserves. The owners are David Rockefeller, the Rothschilds, Warburgs, Lazards and others.
The Federal Reserve Bank of NY controls the printing press. They determine the rate of inflation, which is now around 12% an increasing (see shadowstats.com). The government calculation of inflation has been changed over the years to mask reality. The deception reached epic proportions when the Fed stopped reporting M3 in 2006.
There are some that still think Warren Buffett or Bill Gates are the richest people in the world. The true story is that David Rockefeller and the Rockefeller Family are much more wealthy and powerful than either Buffett or Gates. Rockefeller owns the printing press. They are as rich as they want to be. Billionaires, trillionaires, quadrillionaires, it really doesn't matter. David Rockefeller can just print as much money as he needs.
I think Thomas Jefferson summed it up nicely when he said in 1802 in a letter to then Secretary of the Treasury, Albert Gallatin:
“If the American people ever allow private banks (Federal Reserve) to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”
Next time you go to exchange your FRNs for something, think to yourself what if they wouldn't accept them like they did in Petra and many other places around the world. What would that mean for life in America.
LD is interested in a peaceful world where everyone lives in harmony with nature.
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