U.S. Dollar: The Barbarous Relic - Jeff Nielson
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Jeff Nielson is co-founder and managing partner of Bullion Bulls Canada; a website which provides precious metals commentary, economic analysis, and mining information to readers/investors. Jeff originally came to the precious metals sector as an investor around the middle of last decade, but soon decided this was where he wanted to make the focus of his career. His website is www.bullionbullscanada.com. |
'' ....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...."
November 10, 2015
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
who
was 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’s
renminbi
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”.
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.