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American Ignorance about Money & BankingHenry Ford didn't mind a bit!
Henry Ford said that it is “well enough” that Americans didn’t understand how money was created through the banking system because it all worked out very well for him. Actually it worked out pretty well for most Americans in Henry Ford’s day because the dollar was still attached to gold and government regulation was still relatively limited. So the middle class actually thrived in America and we had a very egalitarian income distribution until decades following August 15, 1971 when President Nixon removed gold from the dollar and as such the global monetary system. J Taylor's Gold Energy & Tech Stocks is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Nixon wanted to get rid of gold because he could empower himself by buying votes from the American people as a whole through socialist policies and by pumping money into the Military Industral Complex. With gold no longer attached to the dollar and to other global currencies, Nixon and subsequent Presidents could buy votes by spending endless amounts of a credit based dollars that clandestinely redistributed wealth from those who created it—the miners, manufacturers, farmers and inventors—to those who received direct or indirect monetary contributions from the U.S. government. Plain and simple the system that Henry Ford talked about was already “leagalized theft” in his day, but when gold was removed from the dollar there was no limit to this play for pay theft scheme that has resulted in a very few number of rich Americans controlling our political system. Without gold backing, governments could spend endlessly as long as the Fed provided enough mouse click money out of thin air to given give the politicians and their voters the goodies they desired. You may think you understand someting about our monetary system and as a subscriber of mine, the chances are pretty good you know more than most Americans. But overall no doubt what Henry Ford said decades ago is just as true now if not more so than it was then because Keynesian propagandists have even caused economic graduates from elite Ivy League schools to be ignorant about our banking system and how it enables a systemic scheme of theft. Alasdair Macleod contributed along with others to a film by the UK’s Cobden Centre which had its premier in the House of Lords that explains the nuts and bolts about our current monetary system and why it is so destructive to society. While it is UK-centric, the lessions apply all of us beause we are all subjcted to this very dishonest montary system. If you don’t understand the process by which banks create credit, I urge you to watch this in depth documentry. Understand our banking and monetary system Actually what you use for your dairly transactions is not actually money. As J.P. Morgan new and stated decades ago. “Gold is money. Everything else is credit.” If you want to know why my newsletter J Taylor’s Gold, Energy & Tech Stocks is focused on gold and the companies that mine it from the ground, its becaue gold is money. Understanding how and why the credit system that we have now is destructive can be helpful in to you in your longer term portfolio allocation. All credit monetary systems in the past have ended up in the dustbin of history. The dollar appears to be heading toward its eternal resting home now at an accellerated pace. By watching this movie, you may be more prepred to weather the storm that lies ahead as more and more credit based dollars will have to be printed to simply ensure enough liquidity exists to simply enable interest on the Federal debt to be paid. This is not a happy message. But it is a truthful one. I believe your chances of making longer term investment decisions will be enhanced with a better understanding of how our current monetary system works. So please watch this documentary and pass it on to those you love. Best wishes, Jay Taylor J Taylor's Gold Energy & Tech Stocks is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. You're currently a free subscriber to J Taylor's Gold Energy & Tech Stocks. For the full experience, upgrade your subscription.
© 2024 Jay Taylor |
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