This page has been archived and commenting is disabled.

U.S. Dollar: The Barbarous Relic

Sprott Money's picture




 

 

 

Hold your real assets outside of the system in a private, non-government controlled, international facility   -->  http://www.321gold.com/info/053015_sprott.html

 

 

U.S. Dollar: The Barbarous Relic

Written by Jeff Nielson (CLICK FOR ORIGINAL)

 

 

Almost certainly, everyone reading this piece will have heard the phrase “barbarous relic” used in reference to a particular currency in our current monetary system. The problem is that (invariably) this label is attached to the wrong currency.

“Gold is a barbarous relic.”

This phrase was originally articulated by the notorious economic charlatan, John Keynes. Keynes preached a doctrine of infinitely expanding sovereign debt, as the supposed path to economic health and prosperity. In reality, this is a recipe for nothing except inevitable, economic destruction, which is patently obvious to anyone who understands the term “compound interest” – and is capable of operating a calculator.

Yet despite the obvious absurdity of “Keynesian economics”, it has spawned legions of sycophants who have followed in Keynes’ fraudulent footsteps, and continued to peddle the nonsense that the arithmetic of compounding interest simply does not apply to sovereign debt. Indeed, those in the field of economics who do not subscribe to this fiscal/monetary lunacy are labeled “Austrian economists”, and they are hailed for no other reason than that they do have the capacity to operate a calculator. This is how low the “bar” has been set in the pseudo-science of economics.

Conveniently, the concept of infinite sovereign debt (and the rapidly expanding money-supply needed to issue all that debt) produces the ideal conditions for Big Banks to perpetrate massive, financial crimes , as we see with the current crime syndicate, which regular readers know as the One Bank . We thus see the motivation for continuing to propagate “Keynesian economics”, via the vacuous mouthpieces of the mainstream media: to facilitate the serial crimes of the banking crime syndicate.

Why did Keynes, the false-prophet of infinite debt/infinite money-printing, hate gold so much? Keynes himself supplies the answer to this question, through another attempted smear of gold (and the gold standard). He referred to a gold standard as “the Golden Handcuffs”, and he was very specific about whowas being “handcuffed” and how they were being handcuffed.

A gold standard (drastically) limits the capacity of governments to issue new debt. It absolutely restricts the capacity of central banks to issue new (gold-backed) currency, as new money can only be issued in direct proportion to the reserves of gold which back it. “Keynesian economics”, and the systemic financial crime which accompanies it, cannot exist with a gold standard firmly in place.

In the absence of a gold standard, there is no way to protect savings from confiscation through inflation.

- (future) Federal Reserve Chairman, Alan Greenspan , 1966

As a result, the “Keynesians”, and the banking crime syndicate which sponsored this academic fraud, found it imperative to first denounce the gold standard (with their intellectually bankrupt rhetoric), and then to assassinate it – with central banker, Paul Volcker, claiming personal credit for this dirty deed. It was only once the Handcuffs had been removed that the current era of fiscal/monetary insanity (and crime) could begin.

Since the abolition of the last vestige of our gold standard (the Golden Handcuffs), our governments have quickly managed to drown themselves (and us) in sovereign debt. Our currencies have already been debauched to worthlessness.


In a mere 40 years, our governments and central banks have demonstrated absolutely/unequivocally that neither of these entities can be trusted as stewards of our economies, without being firmly bound by a set of Golden Handcuffs. However, gold is not just the only-and-ideal basis for a sound monetary system. It is (along with silver) the best money which our species has ever been able to devise. To understand this requires understanding the nature/definition of “money” itself, which is the subject of a previous analysis .

Gold is the best money. Gold is the best basis for a monetary system . Gold is universally considered to be money in all of our monetary rules and regulations, created by the same bankers who refer to it as “a barbarous relic”. Gold is universally considered to be a premier monetary asset by all of the world’s governments. It is anything but a barbarous relic.

Then we have the U.S. dollar.

One hundred years ago, the Federal Reserve was created to (supposedly) manage and “protect” the value of the U.S. dollar. During that century, the USD has lost roughly 98% of its value, and it has been losing value at an ever-accelerating rate. In terms of its actual worth, it is a mere relic compared to what it once was.

Geopolitically, it is now universally acknowledged (by every nation except the United States) that China’srenminbi is displacing the U.S. dollar as the global “reserve currency”. At precisely the same time the Federal Reserve has hyperinflated the supply of U.S. dollars (as seen in the previous chart), the demand for U.S. dollars is collapsing. In terms of supply and demand, the U.S. dollar is a monetary relic.

Even the closest allies of the U.S. have now begun openly phasing-out their U.S. dollar holdings, and replacing those holdings with renminbi. The UK has now begun issuing its own bonds denominated in renminbi – not pounds or dollars. Canada’s government recently announced the first in a series of “currency swaps” with China, for the specific purpose of reducing use of the USD, and increasing use of the renminbi.

Then we have the United States itself: the American Empire. It is an empire which has managed to destroy its own legitimacy, in virtually every way imaginable.

Militarily, it turns loose its war-machine on its global neighbours unilaterally, and with nothing more than the flimsiest of pretexts. It doesn’t merely overthrow governments, but destroys entire nations, as seen in Afghanistan, Iraq, Libya, Ukraine, and many other current/previous victim-nations.

It routinely slaughters innocent civilians, and sloughs-off these serial war-crimes as nothing but “collateral damage”. It tortures supposed “enemies”, detains/incarcerates people without anything even remotely resembling due process, and has officially renounced following even the limited standards of humanity known as “the Geneva Conventions”.

 

U.S. Dollar: The Barbarous Relic - Jeff Nielson

Economically, its economy is totally bankrupt. It’s only able to avoid a formal declaration of bankruptcy through systemic accounting fraud : hiding its debts in a manner which would be comically illegal, if ever attempted by any corporation. Even then, it is only able to postpone implosion of this corruption-saturated economy through market manipulation and economic frauds so large as to be beyond the comprehension of most readers.

Internally, its police now systemically rob the people – citizens and non-residents alike. They also brutalize and kill Americans on such a regular basis that one state has legalized allowing its residents to shoot the police , as the only means for the people of this “empire” to protect themselves from their own law enforcement personnel .

Legally, its Constitution has been put through a paper-shredder, and the people have been stripped of their rights. Neither the various layers of government nor its courts pay even lip-service to this document, any longer.

The United States of America, which has frequently described itself as “a shining beacon of democracy” is now a barbarous nation, and global pariah, in virtually any-and-every way we can imagine. The U.S. dollar, itself, is a “relic” based upon any possible metric of analysis. Putting this all together, one currency stands out above all others in the global monetary system as “a barbarous relic”: the U.S. dollar.

More importantly, the USD is the primary weapon of corruption/crime for this pariah government and its banker Overlords. It is thus incumbent on the nations of the global community to first denounce the USD for what it really is: the fraud-currency of a barbarous empire, in terminal decline. Secondly, we need to rid the global economy of this barbarous relic – completely and permanently – and to do so as soon as possible.

 

Please email with any questions about this article or precious metals HERE


 

U.S. Dollar: The Barbarous Relic

Written by Jeff Nielson (CLICK FOR ORIGINAL)


 

 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 11/12/2015 - 10:36 | 6781659 dontgoforit
dontgoforit's picture

I see a trend here on ZH.  Seems more and more articles are 'anti-anything' that was once considered good.  The propaganda machine is running hard.  I've gotten to the point where I feel ZH is controlled by the very powers they abhor. 

Thu, 11/12/2015 - 02:21 | 6780853 NoBillsOfCredit
NoBillsOfCredit's picture

1. The true saying is that "the gold standard" is a barbaric relic.
2. FRNs are NOT "dollars".
3. The Constitution guarantees every State a Republican form of government not a democracy.
4. I like the article.

Thu, 11/12/2015 - 01:18 | 6780758 sarz
sarz's picture

There is an alternative to debt-based money and gold-based money. It is state-issued money. Ellen Brown and the Institute for Public Banking are proponents of the idea. And so is Bill Still. So was Ben Franklin. He saw the power of public money as the secret of the wealth of the American colony compared to the poverty of Britain. With public money you don't need income tax at all. It used to be the American way. The Fed and income tax were brought to you as a joint package. Someone should get Trump together with Ellen Brown.

Thu, 11/12/2015 - 02:35 | 6780878 r00t61
r00t61's picture

Taking away CTRL-P from the banksters, and giving it back to politicians, is not much of a solution.

Considering that it was the politicians that gave the bankers the legal right to CTRL-P in the first place.

Seriously, do you want Nancy Pelosi or John McCain in charge of the money supply?  Seriously?

Wed, 11/11/2015 - 23:10 | 6780353 arbwhore
arbwhore's picture

Dollar index forming bull flag. 105 target. Gold will test $1030... might not hold.

Thu, 11/12/2015 - 00:06 | 6780554 doctorZH
doctorZH's picture

Yes. I really can't believe that the US Dollar is worthless as we speak.  THere is a whole basket of currencies (all of them, in fact) that are worth less than the US Dollar.  What we need in the US is a good stretch of Dollar bullishness that crumches the global debt bubble and brings on the deflation that our leaders have been afraid of for over a decade.

Strong Dollar through 2019.  This will cure many of our ills.  International corporations won't like it.  They can go to hell, in fact.  They are the same people that sold American workers down the stream to enhance their 'internatinoal' profits.  If they drown, they drown.  The thing about corproations, if one falls, another one comes up in its place.  We need to make room for new companies when the darkness clears.

Wed, 11/11/2015 - 22:18 | 6780114 Flying Wombat
Flying Wombat's picture

U.S. Nuclear Missile Tests: Sending A Message To China & Russia

TND Editor's Note: The Trident II D5 missile is the grand daddy of the U.S. nuclear arsenal. If sending a message was among the objectives of those that ordered these tests, using the D5 certainly is the "loudest voice." Dollar hegemony enables U.S. military empire. U.S. policy makers are concerned about dollar hegemony evaporating. Naturally, "the message" has more than one purpose, but Mr. Dykes is correct to place such a major focus on dollar hegemony because the current and unstopable decline in U.S. dollar hegemony is driving a great deal on the global geopolitical stage. -- Eric Dubin

# # # #

TND Guest Contributor: Aaron Dykes | Truthstream Media |

http://thenewsdoctors.com/?p=538890

Wed, 11/11/2015 - 12:45 | 6777576 highwaytoserfdom
highwaytoserfdom's picture

Pet Rocks

dollar Hegemony

Wed, 11/11/2015 - 12:24 | 6777485 ebworthen
ebworthen's picture

House of Cards!  You can't build one of those with heavy round Gold coins, now can you?

Wed, 11/11/2015 - 12:12 | 6777422 honestann
honestann's picture

The fiction called "authority" is the most barbaric and destructive relic.  And yet, just about the most popular, most sanctioned, most defended, most funded relic too.

Wed, 11/11/2015 - 11:35 | 6777251 Conax
Conax's picture

 

Greaseburger 1965- 25 cents

Greaseburger 2015- $5.

Thanks, John!  The people should erect an erection for this guy.

Wed, 11/11/2015 - 11:06 | 6777085 overthehill
overthehill's picture

It's time to become aware of the Rebekah Roth Revelations in Methodical Illusion and Methodical Deception . . . .

re: http://www.amazon.com/s/ref=nb_sb_noss/180-0368799-8315259?url=search-al...

Wed, 11/11/2015 - 11:25 | 6777201 Crash N. Burn
Crash N. Burn's picture

"It's time to become aware of the Rebekah Roth Revelations in Methodical Illusion and Methodical Deception"

 

Will it show me how to slam an aluminum beer can through a concrete foundation (or a bug crashing through a car windshield @ 60MPH)?

Dr. Morgan Reynolds - The Fake Planes of 9/11
Wed, 11/11/2015 - 10:53 | 6777040 The best Sun
The best Sun's picture

Invest in the "Long Pig Cookbook".

Wed, 11/11/2015 - 10:46 | 6777006 SSRI Junkie
SSRI Junkie's picture

strange...that monetary base chart looks just like a chart of the s&p 500...now that's a coincidence

Wed, 11/11/2015 - 10:34 | 6776952 silverer
silverer's picture

Keyne's methods would be attractive to anyone who runs on basic greed, because it's predicated on growing the pot of 'gold' continuously for sticky little fingers.  No limits.   Did he articulate any warnings of going to far?  I don't think so, and I don't remember ever seeing that anywhere. 

Wed, 11/11/2015 - 10:23 | 6776912 Osmium
Osmium's picture

I don't understand that chart.  The monetary base seems to start an uptrend in the early 70's.  I wonder what could have possibly led to that?

Wed, 11/11/2015 - 10:12 | 6776856 MoonSun
MoonSun's picture

Keynes was not that bad. The problem is that politicians have wrongly used Keynes to justify their over-the-top spending drifts, and we the people are the ones to suffer.

Wed, 11/11/2015 - 22:57 | 6780292 logicalman
logicalman's picture

The big problem with fiat is that it enablles governments to engage in wars they wouldn't be able to afford with a currency backed by something you tangible.

 

Thu, 11/12/2015 - 02:23 | 6780856 NoBillsOfCredit
NoBillsOfCredit's picture

the big problem is that the paper money system is based on fraud. It is a Ponzi scheme that will destroy itself no matter what. So long as it is in existence.

Wed, 11/11/2015 - 10:52 | 6777030 Bioscale
Bioscale's picture

Keynes was writing things as told by banksters. If you read Hayek's or others' critisism of Keynes, you will know that Keynes used to change opinions pretty often and was making things up ignoring or misinterpreting hundreds of years of economic knowledge. He created theory that the zionists were looking for in order to mislead and manipulate masses by hijacking schools and knowledge by FED, nothing more, nothing less. It's the same today, look at the asshole Krugman, he's playing Keynes role today.

Wed, 11/11/2015 - 10:30 | 6776937 RaceToTheBottom
RaceToTheBottom's picture

You are close.  Keynesian-ism was not implemented.  Only the spend part of Keynesian-ism was deployed.  

This suited the Banksters and the politicians.  

The Banksters made huge profits and removed all risk.  

The politicians never had their deficit spending faucet removed.

We are left to clean up the mess, and see through the blame game as to what went wrong.

Thu, 11/12/2015 - 02:30 | 6780869 Boris Alatovkrap
Boris Alatovkrap's picture

Addictive reciprocity.

Wed, 11/11/2015 - 10:13 | 6776855 Fukushima Fricassee
Fukushima Fricassee's picture

I convert 100s to gold but the dollar, I wipe with them green shits

Wed, 11/11/2015 - 10:37 | 6776961 HowdyDoody
HowdyDoody's picture

USD: A Barbarian's Relic.

Thu, 11/12/2015 - 02:29 | 6780867 Boris Alatovkrap
Boris Alatovkrap's picture

Graph is showing hockey stick. Boris is LOVE hockey!

Do NOT follow this link or you will be banned from the site!