Polls

Where will gold end 2015?
 
Buy gold online - quickly, safely and at low prices
40th Anniversary of Fiat Dollar PDF Print E-mail
Written by Administrator   
Monday, 15 August 2011 11:29
40 years ago today were sown the seeds of our present monetary crisis. Richard Nixon defaulted on the U.S. debt and ended the Gold Standard, beginning an unprecedented period of purely fiat global currencies, precipitating massive bubbles and crashes and debt accumulation.

The Dollar has lost over 90% of its value since then. I.e. if you put a dollar under your mattress for retirement in 1971, it would buy 10 cents worth of goods today. But while prices have increased by 10 times, the median household income has only increased by 4 times, which is why the American quality of life has plummeted, notwithstanding technological improvements. Workers get raises, so they think they're earning more, but in reality their money still buys less.

This is "stability" according to Nixon and his Keynesian economic theory.



Joomla Templates and Joomla Extensions by ZooTemplate.Com
Last Updated ( Monday, 15 August 2011 11:41 )
 
Buy gold online - quickly, safely and at low prices
 
Buy gold online - quickly, safely and at low prices
SilverSaver(R) - Save Physical Silver and Gold
SilverSaver(R) - Save Physical Silver and Gold