What are dollars anyway? The simplest definition, is that dollars are money. Money we have to use to pay our debts, thanks to ‘legal tender laws,’ which require this. This is not a total definition though, because we need to know where the dollars originate, other than from a printing press, which is not a bad definition, come to think of it. I Say dollars are debt. Debt? Who owes it then? The dollar’s printing, says it is a ‘Federal Reserve Note.’ Like when you go to a bank and borrow money, you have to sign a note, agreeing to re-pay the loan? Sort of, because a ‘note,’ is a promise to pay, just like at a bank. This then means that the dollar is a debt, since it is a note. Since it is a ‘Federal Reserve Note,’ this means that the dollar owes the Federal Reserve. The Fed is not owned by the U.S. Government
When dollars were silver certificates, they could be redeemed in silver, and the same with gold certificates. This meant that the dollars were owed to you the holder, either gold or silver from the U.S Treasury which issued them. They were backed by, and redeemable in, silver and gold. The U.S. Treasury doesn’t have and gold or silver any more to back the money they issue. Ft. Knox is empty. Witnesses said that under the Eisenhower administration, many dozens of large tractor-trailers, under heavy guard, were seen leaving Ft. Knox, and conveniently, no inventory or audit has been done since before the tractor-trailers were seen leaving Ft. Knox. Coins are no longer made of silver, simply because the U.S. Mint has none to make them other than one ounce Silver Eagles, which now are worth over $18, whereas during the days of silver certificates, you’d get an ounce of silver, for a paper dollar. The gold in vaults in New York are being stored for foreign nations by the U.S. government, and are so labeled.
If the dollar’s debt is owed to the Federal Reserve, where does the Federal Reserve get something of value to back the paper dollar? They’re created out of thin air, backed by nothing, and loaned to the U.S. Treasury, who prints the dollars, which are indebted to the Federal Reserve, and guess what? The Federal Reserve charges interest on the loan they made to the Treasury, which loan was created out of thin air. Pretty good deal for the Fed, huh?
It gets a bit more complex. U.S. banks operate on what is known as a ‘fractional reserve system,’ which is another fraud. Under this system, banks need only to have a 10% reserve for any loans they create, which means they are creating dollars, also out of thin air. A bank can loan you $1,000, and have only $100 in the till, but charges you interest on the $1,000. This must be why bankers are wealthy, huh? Their only danger is that loans may go bad, but they’re insured for that. You know, the FDIC, or Federal Deposit Insurance Company, which has in its vaults, about a nickel for every $100 worth of insurance they issue and charge banks for the $100 policy. Banks are mostly privately owned, and stock usually can’t be bought in them. Gee Dad! I wonder why?
To sum it all up, dollars are backed by nothing, unless the slogan, “In God We Trust,” imprinted on them, means that God will back them, and I can’t find any evidence that God is interested in backing paper money created out of thin air. The law says we must use them to pay our debts, only they are notes themselves, which means dollars are debts, in this case to the Federal Reserve, just like your indebted dollars which you use to pay your debts. Why can’t you use gold and silver to pay your debts? Because your debts, mortgages, and groceries are denominated in dollars, and dollars must be used to pay them. A hundred years ago, many railroads issued stocks and bonds denominated in gold backed dollars, which (naturally) courts decided were so old fashioned that they were abolished, and transferred into ‘modern’ un-backed dollars. Dollars however, can be used to buy real money, such as gold and silver, which have been real money for thousands of years. The word ‘money’ is not used in the Bible. When transactions were made in the Bible, gold and silver were used. “But isn’t the dollar stable, and a store of value?” It is a store of value only temporarily, similar to storing your water in a bucket which steadily leaks a drop at a time. This is known as inflation, which is what our government thinks is healthy. Drip, drip, drip, and out leaks the dollar’s purchasing power. I understand that nursing homes now charge $10,000 a month for their patients, and a new pickup can cost $70,000 with all the gee-gaws on it. My 77 year old truck sold for $400 in 1941, and Hershey bars were a nickel as well as (here he goes again), “Pepsi Cola hits the spot, 12 full ounces, that’s a lot. Twice as much for a nickel too, Pepsi Cola is the drink for you.” At that time, gold was $20.67 an ounce. Does it pay to save in gold and silver? You might say that gold and silver go up and down in price. All things go up and down in price, depending on their availability, supply, and the value of the currency buying the product. Does $20.67 to over $1300, give any indication of a trend? Or does a nickel Pepsi indicate a trend of the dollar’s purchasing power? Gold and silver, are my entire life’s savings, other than a home, property, cars, etc. and I have never owned a share of stock or had a savings account. Gold and silver are what we do for 1% over wholesale, and that includes shipping. Don Stott – 1-888-786-8822