INVESTING IN PRECIOUS METALS IN A FIAT CURRENCY WORLD
Fiat currency is paper money backed by nothing but faith. Today every world currency is backed by nothing but pure faith, unlike prior to 1971 when currency was at least partially backed by gold. Today all currency is nothing but paper. Fiat currency is designed to lose value to permit the central banks to inflate […]
FRACTIONAL RESERVE BANKING
All banks must keep a reserve of currency on hand for withdrawals. The Federal Reserve sets that reserve limit. If a bank reserve limit is set at 10 percent, for example, it is allowed to loan out 90 percent of its deposits. Banks don’t loan out the currency in its accounts, they create new fiat […]
THE FEDERAL RESERVE AND CENTRAL BANKS
“By far the most secret and least accountable operation of the federal government is not, as one might expect the CIA, DIA, or some other super-secret intelligence agency. The CIA and other intelligence operations are under control of Congress. They are accountable: a Congressional committee supervises these operations, controls their budgets, and is informed of […]
MODERN TIMES – THE WEIMAR REPUBLIC
The modern world had been on and off the gold standard, which was the backing of currency with gold. Just after World War I, Germany had already ceased backing its currency with gold and had run up enormous deficits. Germany printed its money during the war at a fevered pace and quadrupled the number of […]
A LITTLE HISTORY OF MONEY
Currency is not the same as money. Currency is cash and it is mere paper issued by the governments, based on pure faith in its value. There is NO value in this currency other than the value placed on it by the psychological belief that it is worth what is printed on it. Money is […]