This is truly a sad state of affairs. The Federal Reserve is destroying the US Dollar by hemorrhaging $85 fresh ones per month, sending all commodity prices soaring, distorting the economy, setting the stage for hyperinflation and the misguided populace are begging the politicians to suffocate small businesses even more by paying less skilled workers more than they are worth by raising the minimum wage?!?!?
Sure politicians can pass violent laws demanding small businesses obey them, but employers by no means have to lose money paying less skilled workers more money. Further unemployment and lay-offs is the only logical result of more governmental strangulation. The terrorists that run the federal government mafia have no conception of fundamental market economics. Rather it almost seems malicious economic destruction is the intended effect, calling it stupidity is awarding them the benefit of the doubt.
Does anyone else see here a major disconnect within a twisted scenario?
Those are interesting quotes. However we must at the same time be vigilant of what the media portrays as right and good and true. Here is an enlightening expose by the Canadian philosopher Stefan Molyneux of the skeletons in the closet of the Nelson Mandela that few report.
He was a socialist politician in the rape, murder, and sexual assault capital of the world. There exists no form of institutionalized government, which does not systematically steal, exploit, and ultimately murder its own citizens. Arguably Socialism and Communism takes first prize in this respect when Nazi Germany, Communist China, Soviet Russia, Khmer Rouge of Cambodia, Socialist Yugoslavia etc. are taken into account. Our form “elected government” is no different. We just have different excuses.
We must stop looking to politicians and rulers to save us from the State. They are only the branch of the problem. The people must reclaim their Sovereign inalienable rights away from charismatic despots that would trample on those freedoms to advance their own Statist agendas. The solution to wealth inequality and legal plunder is not more forceful wealth redistribution and legal plunder. The system must be torn asunder from the inside out.
Here is a profoundly enlightening 8 minute video on the inherent injustice of taxation and the ramifications that are associated with it. There are three ways that one may procure wealth. The first is the Economic model which is the voluntary exchange of goods and services for money. The second is the Inheritance model which is when someone voluntarily gives or donates money to you. The third is the Mafia model which is when your wealth is involuntarily stolen from you by threat of fine or imprisonment. By which model do you think the State and the IRS procure their funds through taxation? The first two are the ways of civilized human beings. The last one is the way of savage beasts.
There is no worse tyranny than to force a man to pay for what he does not want, merely because you think it would be good for him.”
Some people assert “The currency is received in the form of taxes goes towards positive public works such as roads, bridges, and tunnels. How can that be so wrong?” Set aside for a moment the basic realization that, given the option of currency creation, our present day State does not need our paltry tax currency for funding its myriad murderous activities. In assessing the inherent morality regarding taxation the key word to consider is voluntary. If a thief steals your currency against your will and then assures you he will give that currency to his sick grandmother, is that is still considered theft? Is that still morally wrong? I believe most rational minded people will conclude this to be so. Why then is the same coerced extortion, when viewed on a grand scale in the form of coercive taxation, considered to be our civic duty? Make the paying of taxes entirely optional and we will see how many Sovereign individuals would willingly give a portion of their hard earned wealth to the murderous high priests of government to squander it on overseas wars, wealth redistribution, subsidies, bailouts, drone strikes, NSA spying, increased surveillance technology, Drug Wars etc.
Statism – ideas so good they have be mandatory.”
There are three ways the State can receive funding for its various endeavors; taxation, currency creation, or borrowing. Through the collusion between the State and Central Bank of any given country one may assume that procuring funds through taxation and borrowing from foreign countries is negligible and unnecessary when compared to the tremendous benefits that are showered upon the elites through the magical elixir of currency creation, also known the Mandrake Mechanism, and the subsequent currency devaluation that it brings. If it can be seen that taxation is not the primary method relied upon by the State to receive funding then what purpose does taxation in fact serve? After such logic the inevitable conclusion one arrives at is that taxation is merely the means by which the dominant ruling elitist class maintains its power over its subjects through systematically depriving them of the fruits of their labor and industry. It is not about paying your fair share, performing your civic duty, or paying for infrastructure such as roads, bridges, and tunnels. When the State may employ, through the Federal Reserve, Quantitative Easing or any other fictitious asset purchase with currency made out of thin air to pay for it’s over $1 trillion per year massive military-industrial budget, war campaigns, and global imperialistic conquests the notion that it relies on taxation to fund itself is fundamentally absurd and puerile.
The power to tax is the power to destroy.”
Chief Justice John Marshall, McCulloch vs. Maryland 1819
Given that some slaves are content, nay proud and willing, to surrender an arbitrary portion of their wealth to the ruling class is incontrovertible proof of the success of government educational institutions, tertiary education, and the propaganda spewed forth by the lamestream media. These are the people that will impede, in whatever way they can, the efforts of others who strive to unshackle us all from our institutionalized confines. They must be pitied and gently educated, not destroyed. Hopefully they will not become a hindrance to the cause of liberty. If they do not understand the reasons for which we resist please let them step aside.
Banking was conceived in iniquity and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of a pen they will create enough deposits to buy it back again. However, take it away from them, and all the fortunes like mine will disappear, and they ought to disappear, for this world would be a happier and better world to live in. But if you wish to remain slaves of the Bankers and pay for the cost of your own slavery, let them continue to create deposits.”
Sir Josiah Stamp, President of the Bank of England in the 1920s, the second richest man in Britain.
It is no coincidence that the Federal Reserve, the IRS, and the Federal Income Tax were all created in 1913. They are all symptoms of the same cancer that has, since 1913, metastasized to gargantuan proportions that today primarily functions to suck the monetary life blood from the working, productive, and thoroughly dwindling middle class. All the State derived jobs and the people they employ cater to this monstrosity are to be held in wretched condemnation for the parasitic abomination they support. They may be good people who mean well and they might be doing it in order to simply make a living for themselves and their families but there are various other less destructive and less harmful ways of earning a living than assisting in the violent subjugation of one’s fellow man.
Everyone wants to live at the expense of the State. They forget that the State lives at the expense of everyone.”
The key to the complete and absolute overthrow of a society is not overt military invasion but rather the gradual whittling away of societal prosperity through inflation, the growth of the State, and the piecemeal removal of civil liberties. It is in this spirit that taxation of a populace is most effective. Inflation is, by its very nature, a hidden tax on the purse of the people that is scarcely felt until the damage is severe and irreparable. Every unit of currency that is created derives its value by stealing it from all the currency that is already in existence. This is the most insidious tax of all since it is truly a silent economic killer.
There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million can diagnose.”
John Maynard Keynes
Paying your taxes like a good little slave is supporting the biggest mafia on the planet, which routinely uses that currency to kidnap, torture, pillage, rape, and murder others who would not bend over and submit to its treasonous and criminal intent. Given that we are, all of us, sovereign beings answerable to no government and with sovereign inalienable rights that no government can give nor take away, it follows that we only consent to being taxed through our fundamental ignorance of this assertion. Taxation is only theft to the extent that the ignorant and indoctrinated masses allow their wealth to be stolen by the extreme minority of psychopaths, for if they truly understood the enormous power they possess in sheer numbers they would not stand for this injustice one day longer.
It’s been easier to convince people to hand over half their income, their children to war, and their freedoms in perpetuity – than to engage them in seriously considering how roads might function in the absence of taxation.”
Production always precedes predation. Throughout history there have been many small tribal societies, devoid of formal governmental institutions, that have lived peacefully, harmoniously, and have produced great abundance for those living among them. This unfortunately is an attractive opportunity for criminals and rogues who seek out such societies in order to overthrow, dominate, and enslave them. When presented with the choice of working to support oneself through innovation and parasitically living off the work of others, the latter is always the preferable choice for megalomaniacs, also known as politicians, kings, and emperors. The productive sector of society must always exist before a criminal ruling class can come along and extort them for the fruits of their labor and thrift.
It is easier to fool people than to convince them that they have been fooled.”
Attempting to tame and cage a wild animal is a formidable task indeed, however once the spirit of freedom has forcibly been expunged that free spirit rarely makes a reappearance. The process of enslaving future generations becomes immeasurably easier with the passage of time. Without the previous direct experience of true freedom the progeny may be easily converted and inculcated into blind State worship by the government indoctrination camps known as public schools. Thus is established the propagation of a criminal ruling class who firmly entrenches themselves in the minds of their subjects as being necessary, inevitable, and self-evident.
One of the saddest lessons of history is this: If we’ve been bamboozled long enough, we tend to reject any evidence of the bamboozle. We’re no longer interested in finding out the truth. The bamboozle has captured us. It’s simply too painful to acknowledge, even to ourselves, that we’ve been taken. Once you give a charlatan power over you, you almost never get it back.”
There is a term that puts all this into clear perspective. That term is “tax financed murder”. One must look past all the pomp and ceremony that apparently gives the thieving politicians validation to understand the true nature of their iniquity. This is done in exactly the same manner that a magician uses pyrotechnics to enhance the theatricality of his show. Neither is based on logic and reason. Political campaigns are based on buzz words and the mindless repetition of key phrases which proves to be as effective for swaying public appeal as any advertisement for Coca Cola, McDonald’s, or the latest cell phone.
Let them march all they want, so long as they pay their taxes.”
Alexander Haig, Secretary of State to President Reagan
Stripped to its bare essence, taxation is the word provided by the ruling class to justify theft of the fruits of industry and labor of the working productive class. The percentage of taxation and items taxed is entirely arbitrary as can be seen by the fact that since 1913 income tax, excise taxes, import taxes etc have all been increasing. The wealth of a man is his property, and just like his real estate, his possessions, his inventions etc, he is absolutely justified in resisting, to the full extent of his being, any man or entity, which includes the State, attempting to rob him of that property. Rarely are any taxes or laws repealed, rather they are most often added or augmented in scope.
Liberty will not descend to a people, a people must raise themselves to liberty.”
The authority of the State to institute laws with impunity, which includes taxation, may be freely challenged by anyone who recognizes the inalienable sovereign status of all individuals. Ask those who would exert their influence over you “Where do you get your authority?” In a pyramid hierarchical society, such as the one we have been conditioned to accept, each bottom layer places the blame of their actions on the next layer above. This continues until perhaps the President is reached. From where does the President obtain his authority? If he answers God, then we have descended into the ungrounded justification of the god-kings of antiquity who have claimed their right to rule directly from the gods themselves, resistance against whom would be considered blasphemous. If he answers the Constitution, then one must ask from what divine source does the Constitution derive its power to rule and subjugate? The Constitution is, after all, just a piece of parchment paper, with scribbling, albeit fancy calligraphical scribbling, by dead white slave masters. Such an insignificant piece of paper cannot realistically possess the magical authority to prudently guide the development of any nation state. The impossibility of this task becomes more apparent the larger the State becomes. Verily as the State grows in size subsequent amendments, alterations, substitutions, transmutations, deletions, and additions must be made in order to accommodate and validate the expansion. This becomes the norm such that the intent of the original document itself becomes adulterated to such a degree as to scarcely be recognizable. Thus paper documents are insubstantial for the purpose of justifying the authoritarian claim to power.
Man is free at the moment he wishes to be.”
If 0% taxation is freedom and 100% is slavery, then at which point does a man become a slave? I would argue that anything above 0% is some level of economic slavery since even 0.5% taxation is involuntarily collected by means of violent force and is therefore immoral, unjust, and must be resisted. The fact that the American people have allowed the excessive growth of the State and that of insufferable tax laws to asphyxiate them to the extent that it has is testament to man’s docility and complacency when subjected to the gradual losses of freedoms and progressive encroachment of oppressive bureaucracy. For a free people to remain free no amount of taxation must be tolerated. This is known as the boiling frogs syndrome. Complacency and a lack of vigilance only breeds further exploitation and theft.
When any government, or any church for that matter, undertakes to say to its subjects, ‘This you may not read, this you must not see, this you are forbidden to know,’ the end result is tyranny and oppression, no matter how holy the motives. Mighty little force is needed to control a man whose mind has been hoodwinked; contrariwise, no amount of force can control a free man, a man whose mind is free. No, not the rack, not fission bombs, not anything — you can’t conquer a free man; the most you can do is kill him.” Robert A. Heinlein
Another way to look at the immoral issue of taxation is from the perspective of plunder. Here is what the great Frederic Bastiat has to say on the matter:
The question of legal plunder must be settled once and for all, and there are only three ways to settle it: 1) The few plunder the many. 2) Everybody plunders everybody. 3) Nobody plunders anybody.”
Frederic Bastiat, “The Law”
When we are governed by an entity that functions solely through coercion and brutality, what type of person is attracted by these positions of power? It seems only logical to conclude that psychopaths and mad men would vie for the ability to rule and dominate others. Most sane people are content to maintain order in their own home, let alone try to govern one’s neighbor, street, town, city, state, or country. Thus elections can be described as congregations of psychopaths vying for the unique opportunity to dominate others using the only monopoly of violent force in the land, the State.
None are more hopelessly enslaved than those who falsely believe they are free.”
Johann Wolfgang Von Goethe
We must protest and boycott everything “compulsory” regarding government which includes education, healthcare, taxation etc. It gives nothing of itself. It is not a producing sector of society. In order to give it must first steal from somewhere else. Therefore when it does give the State is merely giving us back our own money on their terms. We must de-legitimize and nullify its power! It has no power! We give it all the power! It is a hollow entity that does not exist in its own right. We can starve it and free ourselves anytime we wish. However first in order to do so we must understand the nature of our own slavery.
I freed a thousand slaves. I could have freed a thousand more if only they knew they were slaves.”
This truly enlightening 3 minute animation video is for all you loyal subjects who believe your tax dollars are going towards something meaningful, just, and productive. Approximately 53% of our tax dollars are directed to strengthen and empower the War Machine in all its murderous and barbaric efforts overseas. This is tax financed murder at its finest. We, the American taxpayers, are either blissfully ignorant or wickedly complicit in the bloody intent for which our tax dollars are used. Regardless of the reason for our compliance the consequences are the same. People are murdered as a result.
“We can ignore reality but we cannot ignore the consequences of ignoring reality.” Ayn Rand
Here is wonderfully simple 3-minute animated video depiction of why being an entrepreneur in America is such a daunting task. The Federal Government is the unwanted business partner of all business owners. It does nothing to contribute capitol or labor, instead adding more and more legislation and taxes each year to the already over-burdened load that exists. The ratio of producers:parasitic dependents is tipping. A functional society cannot exist when the former dwarfs the latter.
“I sit on a man’s back choking him and making him carry me, and yet assure myself and others that I am sorry for him and wish to lighten his load by all means possible, except by getting off his back.” Leo Tolstoy, “What Then Must We Do?”
“This isn’t how a ‘free market’ is supposed to work. These workers are selling their labor for less than the cost of production — less than what it takes to provide basics like food, shelter and health care. Low-wage employers are in turn keeping the cost of their products artificially low by socializing a chunk of their labor expenses.”
Yes indeed this is disgraceful. However that is your personal judgment of the matter. If you feel you can provide a better service than Wal-Mart perhaps you should enter the department store business and show them a better way to do it. Nobody has forced anyone to work at Wal-Mart. People choose to work there for various reasons. What is the reason I do not work at Wal-Mart? It is most certainly not because I have a Master’s Degree because as has been clearly shown, that is no guarantee for landing a high paying job as approximately 70% of graduates end up working in a job that requires no college/university degree, let alone getting a job in their field of study. In my humble opinion, I do not work at Wal-Mart because I recognize that I possess skills that can get me a much better job. Working at Wal-Mart, McDonald’s, Home Depot, Lowe’s, Taco Bell, Starbucks, Dunkin Donuts etc is not a condemnation for those with little to no skills. Rather it provides them with much needed job experience and becomes a springboard for other future possibilities. We must be thankful that such jobs exist; indeed not enough of them do exist as can clearly be seen by the rampant unemployment plaguing the US. The existence of minimum wage laws and other business regulations simply make life more difficult for the business owner and snuff out possible job opportunities for those seeking employment. This is just one reason for the economic devastation that the State, in collusion with the Federal Reserve, contributes to every single waking day of our lives.
I see you have provided a wonderful service to your clients and that is laudable. Even if your business practices were evil and unethical that would still not justify the government stepping in and shutting you down because it is not for them to decide. Anything done by the State is forceful, violent, and brutal. It is for the people to decide which business lives and which dies through their patronage or boycott. It really is that simple.
The more corrupt the state, the more numerous the laws.”
Enough damage has been done by government meddling in the affairs of business. It is like a doctor who has successively been prescribing more and more medications to a patient in order to treat the side effects of the previous medications, after a while the process becomes self-defeating and redundant. The body must be slowly weaned off the medication until absolute independence is achieved. The economy was not created by man therefore no statute created by man and issued forth through his manmade institution know as “The State” can do anything to solve the problem. Rather every effort must be made to divorce sovereign individuals, of which we all are, from the inherently destructive and barbarously violent governmental institution.
We are, all of us, sovereign individuals with natural born inalienable rights. No government on Earth has given them to us and no government, with their fraudulent laws, can take them away. Even the “Bill of Rights” is a misnomer as this denotes our sovereign rights awarded to us by government. It should more aptly be described as a “Bill of Restraints” since, as is stated in their preamble, they were written more to prevent the State from infringing upon them.
“Wal-Mart’s profits, like those of other low-wage employers, are already subsidized with public assistance that allows their workers to get by. Studies have found that a single Wal-Mart store in Wisconsin costs taxpayers between $900,000 and $1.7 million per year in public benefits.”
So if all those public subsidies from taxpayers didn’t help things, the solution is MORE subsidies!?!?!? It doesn’t make sense to me.
Here is Mike Maloney shining brightly once again in the 36 minute 3rd Episode of his highly acclaimed Hidden Secrets of Money series. Since 2008, most of the large Western Central Banks of the world have been flooding their respective countries with paper trash currency which will, in the end, completely annihilate the aggregate wealth scattered amongst the people and have it transferred and subsequently concentrated into the hands of those who own tangible assets of intrinsic value. Such tangible assets which include, gold and silver, have historically for millennia acted as monetary safe havens in the midst of government currency devaluation and coinage debasement. This is not a novel phenomenon; rather it has happened at least 775 times before in recorded history, the first of which was ancient Greece around the year 6th century BC. Each and every time the pattern was identifiable and apparent to those who have studied monetary history.
Paper money eventually returns to its intrinsic value, zero.
Since the “Nixon Shock” of 1971 all the nations of the world have become fiat currencies created out of thin air backed by nothing but faith and confidence in the Central Banks that issue them and the National Governments that mandate their use by legal tender laws. All you have to understand is “Cash is trash!” All fiat currencies have a finite lifespan which, on average, has been shown to be 30-40 years. After they crash and burn a new monetary system takes their place. This is not a beautiful occurrence. It does not happen without significant suffering and financial loss endured by us, the little people, who deal everyday with this paper trash. It is no coincidence that Central Banks and National Governments solve disputes with gold transactions and they give the debt based fiat paper trash to the little people to use. What we use on a daily basis is not money, it is currency. There is a major fundamental difference. Money, such as gold/silver, maintains or increases its purchasing power over long periods of time. All the gold/silver that has been mined since it was first was used for trade in Ancient Egypt 5000 years ago is still used and valued today. That is incontrovertible proof of them being a store of value. Currency never maintains its purchasing power. On the contrary it predictably devalues and always collapses and dies eventually. As long you or your family hold your wealth in currency or other currency denominated paper assets you are getting poorer and robbed clean every day. Buy precious metals while our global fiat currencies still have some purchasing power! Do not be a victim on this Wealth Transfer!
Gold is money, everything else is credit.
JP Morgan in 1910 when he was complicit in the conception of the Federal Reserve Bank at Jekyll Island, Georgia
Historically every 30-40 years the world has a new monetary system. This is a pattern that anyone can see who has taken the time to learn economic history. The fact of the matter is the last great change to our monetary system was 42 years ago on August 15, 1971 when President Nixon broke the Bretton Woods agreement and removed the US dollar from the gold standard. Since then all global currencies simultaneously became fiat currencies backed by nothing but faith and credit. The restraining and anchoring effect that gold provided has been replaced by wanton money creation. This is an incredibly dangerous gift to be given to central bankers and national governments. It’s like giving an alcoholic free reign to the bar! If national governments are given the ability to print money at will, then print they will, ad infinitum!
Up until 1971 the purchasing power of the US dollar was already on a downward trajectory however 1971 marked a significantly precipitous decline destroying what little purchasing power it had left. The world witnessed, to the shock and dismay of mainstream economists at the time, a rise in the price of gold from $35/oz to $850/oz as it did an accounting for all the excess paper printed up until that time.
The Indian rupee is failing for the same reason every other fiat currency is failing, deficit spending, floating currency status, and reckless unchecked money printing. The fact that some currencies fall faster than others is irrelevant. All fiat currencies are destined for eventual death and absolute destruction of purchasing power. The US dollar is relatively strong in the world simply because we have the world reserve currency status and the petrodollar status. We have the dubious privilege of exporting all our printed money to other countries and so lessening the resultant inflationary effects that would normally occur had all that printed paper stayed at home. The US dollar is the least dirty in a hamper of filthy clothes.
The Indian and Chinese people have a long tradition of trust in precious metals and distrust in fiat paper and other banker contrived financial instruments (stocks, bonds, mutual funds, exchange traded funds, derivatives, futures, options). It is in their blood and it cannot be expunged. That is why those two countries are the largest consumers of gold and silver today, especially now when the cracks in the global monetary system is becoming self-evident to anyone with half a brain. They know that is the only way to preserve real wealth.
The Indian government, along with the bankers, has been trying unsuccessfully to garner the faith of the Indian people into paper assets and out of hard assets. One method the Indian government has employed is import taxes on all imported gold bullion/coins. It has been raised incrementally since 2008 to no avail, the demand is so insatiable. This is akin to blowing against the wind. As is always the case when government attempts to quell the demand of a particularly highly prized commodity by taxing or prohibiting it, a black market has emerged wherein gold is now being smuggled into the country in staggering amounts. Millions of dollars of confiscated Indian gold has been the result of this frenzy. Currently the Indian appetite for precious metals is so powerful that tanks and infantry could be placed at the Indian border and the gold/silver would STILL be pouring in record amounts!
In a country with a third world status where the people struggle to make enough currency to feed themselves, their golden perseverance is admirable. They scrape together enough currency to purchase even 1 gram of gold per month because they understand the extreme fire sale prices that they are being gifted with and the enormous potential for gain and wealth preservation as fiat currency is printed into worthless oblivion. Many Indian people measure their wealth in gold rather than Rupees. Take a look at an Indian wedding and you tell me whether or not Indians prize gold.
It is not the Indian government or Central Bank of India that has the gold but the Indian people themselves. China has many gold/silver mines within its borders, yet the precious metal never exits the country. It is gobbled up by the Central Bank of China or the citizenry too quickly for it to occur. The difference is China encourages its citizens to buy precious metals and India discourages them. This will make all the difference in determining a country to be an economic/financial superpower in a world of currency wars and the “race to debase”. The BRICS (Brazil, Russia, India, China, and South Africa) countries are making their move. The clear pattern of the economic tide is the global monetary gold is moving from West to East and with it the economic stability that gold provides. The supplies are becoming strained. This situation cannot last much longer.
According the principle “Whoever has the gold makes the rules.” I predict the Indian people to emerge in tremendous economic prosperity following the upcoming global wealth transfer. The same goes for the Chinese people, however in China it is the Central Bank of China that is also purchasing the gold in enormous quantities. As a result China will most likely emerge following the Wealth Transfer as the singularly most economically powerful country in the world and therefore will likely impose its gold backed Yuan as the new world reserve currency. Perhaps we will all be speaking Mandarin before this decade is over.
Please witness this stunning visual art 3 part video series on why the Game is Over and the Dollar is Dead! The mega zombie banks are gambling with the hard earned blood and sweat of the little people at the world’s largest casino that dwarfs the global GDP many times over. Too much currency is chasing after too few goods. Savers of this printed trash will be the losers in this “race to the bottom”. If you don’t hold it, you don’t own it! Let’s get physical!
I am more concerned with the return of my money than the return on my money.
Here are the golden nails in the coffin for the US dollar standard.
1) President Nixon Removes Gold Backing 1971
2) Iraq Sells Oil in Euros
3) Following the 2008 crisis the Federal Reserve adds $1.25 trillion to the US base money.
4) Iran Ends Dollar Oil Sales (instead using local currency or gold)
5) Quantitative Easing 2 adds $600 billion to US base money
6) Libya to Sell Oil in Gold Dinar
7) China and Russia Bypass Dollar using a bilateral trade agreement by holding each other’s currency and doing a direct debt settlement without having to wire transfer US dollars
8) Chinese President says dollar reserve currency “product of the past”
9) Utah recognizes Gold and Silver as Money
10) China and Iran Bypass Dollar with bilateral trade agreement
11) Venezuela Repatriates Gold
12) China and Japan trade directly
13) India and Japan bypass US dollar
14) Russia and Iran trade directly
15) Iran sells India oil for Rupees, Commodities
16) China and Brazil trade directly
17) Swiss citizens demand gold repatriation
18) African countries ban US dollar (In Zambia you can go to jail if you use US dollars)
19) Quantitative Easing 3 = Print to Infinity ($85 billion per month)
20) Iran trading energy for gold
21) Singapore removes tax on MONEY (bullion)
22) Germany repatriates 150 tons of Gold from NY Federal Reserve
23) Citizens of Netherlands demand gold repatriation
24) Ecuador to repatriate part of gold reserves
25) Austrian citizens demanding gold repatriation
26) China acknowledges “fundamental market shortage of gold”
27) State owned “China National” buys African gold
28) Azerbaijan repatriates 15 metric tons of gold from JP Morgan in London
29) The Federal Reserve increases printing speed to over $1 trillion/year
30) Japan increases printing speed to over $1 trillion/year
31) People’s Bank of China says “If government where to buy too much gold, gold prices would surge, a scenario that would hurt Chinese consumers.” March 13, 2013
32) Reserve Bank of Australia to buy China Government Bonds (bilateral currency swap)
33) 40% of Global Central Banks invested in or considering Yuan
34) China suggests sale of “most complete and liquid” reserves (US Treasury bonds)
35) Chinese Hong Kong gold imports total 635 metric tons through the end of May 2013, Already 204 metric tons more than 2011
36) USDA says “1/3 of Americans (101 million) on Food Assistance
37) Consumer Metrics Institute Calls US Recovery a “Sham”
38) Bank of England signs Yuan Swap worth $33 billion
39) People’s Bank of China to settle cross border directly
40) European Central Bank seeks Yuan Swap worth $133 billion
41) Banks value gold over dollars – negative forward rates (banks will pay you interest for storing your gold as collateral for a loan)
42) First time in history gold forward rates are negative out 6 months (banks will pay negative interest to the borrower if you provide gold as collateral)
43) Temp work agency becomes 2nd largest US employer
44) US and Canadian Mint silver sales now exceed domestic mine supply for both countries (rush into tangible assets)
45) Shanghai Gold Exchange delivers 9 times physical gold of COMEX (US traders only settle in dollars whereas Chinese investors only settle in gold)
46) US Chamber of Commerce Survey “74% of small businesses will fire workers, cut hours under Obamacare”
47) 450 metric tons of gold (net) exits COMEX and GLD vaults in 2013 (some goes to China and some to the global Central banks)
48) Gold to replace the US Dollar as Yuan reference
Mike Maloney, Hidden Secrets of Money Episode 3
If gold were to cover the currency supply today it would be priced at $13,400/oz for history to repeat and for it to do the same thing it did in 1934 and in 1980. If you include the same overshoot as in 1980, it would require $24,000/oz gold. However since the Federal Reserve stated it will continue Quantitative Easing to 2015 until unemployment decreases and the economy gets back on track we would need $26,000/oz gold to cover the currency supply. If you include the same overshoot as in 1980, it would require $47,000/oz gold.