The Fed Admits 'We Have NO Gold'

[Jon]

If you've truly believed up until this point, that there is enough physical gold reserve in the world to match the amount being represented in the modern world, then I have a bridge to sell you, here in NYC.

It doesn't matter what the fed says or admits.

The cure for all of this = Become a realist.

How to be a realist in just 1 minute or less:

Take an outside perspective view and real look at things with the rule of "there is a good side and bad side to everything -- all parties/aspects must benefit and lose too", listen to your gut (if you don't have one, listen to me, its easier), accept that there are many things in the world that you cannot change, and move on with your daily life.

 

[Flash4Ever]

Disregard gold, acquire Bitcoin.

 

[lukep]

YouTube - ‪The Secret of Oz - Winner, Best Docu of 2010 v.1.09.11‬‏

+ Rep.

Best share on WF since Century of the Self!!!

For the tl;dr crowd; this awesome films says:

1. The Gold standard is a TRAP - It'll just let the richest control you more.

2. The Wizard of Oz was a plea to the future filled with tons of imagery of their times, like Dorothy's SILVER Slippers and baseing all characters off of people like the evil witches being Rockerfeller and Morgan.

3. The only way to fix the problem is for our governments to create CASH, (yes fiat currency) not DEBT, which we do now by allowing the Banks to create cash, not government.

4. Whenever someone is saying any bank is "too big to fail," then they are enslaving you in this plutocracy banks have enjoyed here since 1873. (And longer in many other parts of the world.)

5. The answer is to go to a new monetary system like Lincoln's Greenbacks where the government, not banks, creates all money but can never borrow money... Taking control of the Quantity of wealth away from the banks who wish it only in their own hands. (And banks can only lend as much as they actually have, too.)

6. Because right now we have a system where the Gov borrows money from the banks to pay the banks, and gets charged interest by the banks, and the money was never backed by anything in the first place so they can keep printing and printing and printing forever. Then when a bank is in trouble, it is called too important to fail and we borrow more money from the banks to pay to prop up that bank... But of course we have to pay interest on that as well. Holy fucking christ!

-Very eye-opening stuff. Especially the end parts. It makes me want to keep a close eye on Icelandic politics in the daily news now... They may be choosing the fate of our entire generation's freedom.

 

[ricdes]

well.. DUH. Are you stuck in the 60s?

 

[cheesewhiz]

5. The answer is to go to a new monetary system like Lincoln's Greenbacks where the government, not banks, create money and the government can never borrow money. (And banks can only lend as much as they actually have.

I don't support a gold standard, but do you really think giving congress the power to directly create money is the best idea? These are the same people that brought us the TSA, the war on "terror", the war on drugs, endless wars in the middle east, ethanol subisidies, repeated attempts at internet regulation, crony capitalism on a scale never seen in human history, etc etc etc.

Not sure how well the greenback worked under Lincoln, but I have a hard time believing this would end well.

 

[lukep]

I don't support a gold standard, but do you really think giving congress the power to directly create money is the best idea?

That is fully addressed in the film above... But basically what we have now is WAY worse because they essentially DO create every cent they need... as DEBT, not currency.

If it were created as currency it could do good things, but if it is only created as debt as it is now, it can only serve to fatten the banks we borrow it from.