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Empire of Fraud no. 8 (The Inevitable Reaction)



-- Posted Sunday, 12 December 2010 | | Source: GoldSeek.com

For every action, there is an equal and opposite reaction.

The inevitable reaction to the deep financial fraud in our society will be a 100% gold and silver reserve financial system.  This means gold at something like one ounce per one year's labor, and silver at something like one ounce per one month's labor.  This would not have even been possible until quite recently, after all, this means paying for a loaf of bread with a milligram of gold or ten milligrams of silver.  It is not possible to make a coin with such a small amount of gold or silver, but it is trivial to debit an account for any increment of gold or silver.    In this new world, the banks will not be protected.  Depositors will be able to go to the bank and demand their gold or silver.  A silver dime will represent a few day's wage.  If you want to keep your money outside the system, you will not be regarded as a freak, because in this new world, gold and silver will become more valuable each day.   Rapid technological innovation and a hard money system will reward savers with deflation.   Credit will exist, but only for the most credit worthy pursuits.  Paying back a loan will be a serious matter in this new world, because it must be paid back in real money.  Only ventures which can add value to the current stream of innovation will be funded. 

From the perspective of gold and silver, the future looks like a massive deflationary collapse.  The imaginary wealth which is wildly concentrated now, will collapse.  How easy is it today for someone with multiple billions to put 10% percent of his wealth into silver or gold?  Not easy at all if he wants the real thing.  But the guy on the street can still go out put all of his assets into gold and silver, if he is only wise enough to do so.  And in the end, just a few ounces of gold and silver will be all you really need.  The very wealthy, who will be few, may have a few hundred times more than than but not millions of times more like today.  Better yet, real work will be rewarded with real money, which can not be diluted endlessly to enrich bankers and their friends.

Most of the wealth concentration has been brought about via the fraudulent money system.  This includes corporate inside dealing via cooking the books with derivatives and speculative dirty tricks with derivatives and intense lobbying.  Our wars are financed with phony money.  The government has ballooned on a steady diet of phony money and is now little more than an overbearing friend to monopolistic corporations.  All of this goes away when money can no longer be printed, but must be earned.

Vincent Bressler
vincentbressler@yahoo.com
-- Posted Sunday, 12 December 2010 | Digg This Article | Source: GoldSeek.com




 



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