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Currencies – Truth and Confidence

 -- Published: Thursday, 14 June 2018 | Print  | Disqus 

This article was written for Miles Franklin by Gary Christenson.

In 1967 the Jefferson Airplane sang:

“When the truth is found to be lies,

And all the joy within you dies…”

Restate this for global currencies and it becomes:

When the truth is found to be lies,

Confidence in currencies dies.

WHAT LIES? There have been many. Examples specific to the United States:

President Lyndon Johnson: In 1965, after decades of excessive government expenditures which caused rising consumer price inflation and rising gold and silver prices, Johnson removed silver from U.S. coins. He stated,

“If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content.”

Our President lied. One hundred dollars purchased 77 ounces of silver in 1965. A decade later $100 purchased 24 ounces of silver. In early 2018 $100 purchases 6 ounces of silver. In 2025 $100 will probably purchase a fraction of an ounce of silver.

President Richard Nixon on the gold window and Watergate: In 1971 President Nixon “temporarily” rescinded the agreement to exchange US dollars submitted by foreign governments for gold. He stated,

“Let me lay to rest the bugaboo of what is called devaluation… But if you are among the overwhelming majority of Americans who buy American-made products in America, your dollar will be worth just as much tomorrow as it is today. The effect of this action, in other words, will be to stabilize the dollar.”

On Watergate: He stated:

“1. I had no prior knowledge of the Watergate operation.

2. I took no part in, nor was I aware of, any subsequent efforts that may have been made to cover up Watergate.”

Our President lied regarding both topics. One thousand dollars purchased 24 ounces of gold in 1971. A decade later $1,000 purchased 2.2 ounces of gold. In early 2018 $1,000 purchases 0.7 ounces of gold. In 2025 $1,000 will probably purchase less than one-tenth of an ounce of gold.

Devaluation of currencies is necessary in our debt based fiat currency financial system. When leaders are caught lying the populace is more inclined to see corporate and banking control over government policies. This leads to loss of confidence in the nation and its institutions, and accelerates the decline of the currency.

When the truth is found to be lies,

Confidence in currencies dies.


  • Kennedy Assassination: There were many lies and suspicious deaths. Hundreds of books discussed the assassination and cover-up. Bankers and military contractors benefitted.
  • Lyndon Johnson and the Vietnam War: He escalated the Vietnam War based on the “Gulf of Tonkin Incident,” a fabricated story.
  • Bill Clinton stated regarding Monica Lewinsky: “I did not have sexual relations with that woman.” The House impeached him for perjury but the Senate did not convict. DNA told some of the story. “If the dress is a mess, you gotta confess.” Politics as usual…
  • Hillary Clinton: Oh my, let’s not go there.
  • President Obama regarding Obamacare: “If you like your health plan you can keep it.” Did you keep your health plan? Have your health insurance premiums and deductibles gone up?


  • Politicians lie to win elections. They lie to protect reputations, positions, assets and cronies. If politics did not “pay” so well, we would hear less about their lies and corruption.
  • Central bankers and Wall Street “manage” the narrative. They have trillions to protect and demand their skim. Read Bernanke lies on “printing money.”
  • Politicians and central bankers distract the populace. They do not address unpayable debts, higher taxes, out-of-control military spending, entitlements and pervasive corruption. One does not win elections by telling voters they will receive less and pay more to benefit the military and banking interests.


  1. The US dollar has lost approximately 98% of its purchasing power since 1913. Because devaluation and lies are necessary, we should expect a much weaker dollar during the next decade. Gold, silver, diamonds, hard assets, land, and fine art are preferable to unbacked paper currencies, over-valued stocks and low-yielding bonds.
  2. Hemmingway: “The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin.”
  3. Buy silver! If corporate, banking, and military interests dictate presidential policies, does it matter who is President? It matters to those on the receiving end of the government “gravy train.”
  4. For those not riding the “gravy train,” buy silver to protect from devaluation, inflation, corruption and runaway spending.

Our former Presidents taught us to mistrust official pronouncements because they lied about the dollar, gold, silver, health care, sexual indiscretions, unemployment, inflation, and wars.

When the truth is found to be lies,

Confidence in debt-based fiat currencies dies.

Confidence in silver and gold will survive long after fiat currencies are devalued into worth-less-ness! Call Miles Franklin, WhyNotGold or GoldCore to purchase silver and gold protection from devalued dollars, inflation, and dying confidence in fiat currencies.

Gary Christenson


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