MONEY: The “Dollar”, a false god!

“Money is a matter of functions four, a medium, a measure, a standard, a store.” He repeated that four times like poetry. “Six Characters in Money: Portable – Durable – Divisible – Uniformity – Limited Supply – Acceptability.” CHURCH 10●19●62 (Vol 1) 978-0-557-08387-9 page 110

I’ve changed my mind. Our biggest problem is NOT the Gooferment. It’s a big problem, but not our biggest. Our problem, my problem, is that we have accepted the Gooferment’s definition of money. The definition of what we will accept.

The Federal Reserve Note originates in a secret banking monopoly, called the Federal Reserve Bank. <; It was created in 1913 by the two rival banking giants. And, we have been the losers for it. BTW the Federal Reserve Bank is not “federal”, doesn’t “reserve” anything, and is not a “bank” in any meaningful sense.

Through miseducation and propaganda, they have deluded us into thinking that what were once glorified “dry cleaner receipts” for gold and silver are really just funny green rags. Mostly cotton, they have for the most part “dead presidents” on them and, other than artistic value, they have no value. The only value they do have is that other deluded fools will give you “stuff” (e.g., food, drink, gasoline, clothing, bullets, band aids) for them. Talk about “The Emperor’s New Clothes”?

Imagine a football game played on a 100 yard field. Each year the lines were repainted a little closer because some bureaucrats somewhere redefined a “yard” as some random percentage less. Since 1913, a “yard”, OK call it a “dollar” has been silently redefined to what is now 95% less. So what is a “dollar”. <; Quote from wikipedia: “Count Hieronymus Schlick of Bohemia began minting coins known as Joachimsthaler, named for Joachimstal (modern Jáchymov in the Czech Republic), where the silver was mined.”

So, how can it be a “measure”? Measure of what? If I have ten pounds of apples, there is general agreement of what constitutes an “apple”.  I can say 5# of apples is more that 4# of apples. Apply that to dollars? There’s no agreement as to what constitutes a dollar. It caries over time.

So, how can it be a “standard”? It’s purchasing power varies over time (i.e., decreases due to inflation). Some standard!

So how can it be a “store”? Put that dollar in your pocket for a year and see how you make out.

P.S.: If you have a Morgan Silver dollar (24.057 grams 0.848585703 ounces $16.86 cents), it’s worth between $30 and $66,000 Federal Reserve Notes. Why is that?

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GOLDBUG: The discipline of a commodity-based currency

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In his short but trenchant analysis in 1994 of fractional reserve banking, The Case Against the Fed, Murray Rothbard laid out another methodology for establishing an benchmark price of gold based upon liquidation value of the Federal Reserve. For perspective, in 1994 gold closed the year at $384/ounce, while the broadest measure of money having been printed in the United States (M3) stood at $4.4 trillion, or only 31 percent of its 2008 quantity. When he performed this exercise using the balance sheet of April 6, 1994, he calculated that shutting down the Federal Reserve and distributing gold bullion to its creditors would reset the dollar’s value to $ 1,555 per ounce.

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If it were, we could be sure that the Gooferment was not plundering us by the invisible taxation of inflation. And, none of this deficit nonsense, if they want to spend it then we have to pay for it. Remember the Spanish American cell phone tax! At least, our forefathers had the stones to pay the bills for what they wanted done and not leave an I_O_China for our progeny to pay off.


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