As I prepared to pull out my Goldbacks for my sandwich at Robie’s country store and diner Wednesday, the co-owner informed me that the dollar had fallen below a fifth of a goldback. I remember when the exchange rate was around 3.20 dollars for each goldback just before the scamdemic. It’s been around four for the past few years. I had never seen it above five.
In response to the horrendous monetary inflation by the federal government, the geniuses in DC have caused another major issue without significantly addressing inflation. As The Liberty Block has reported numerous times, the vast majority of all dollars ever printed in history were created over the past three years. Each dollar created by the Federal Reserve dilutes the purchasing power of the dollars in your wallet, bank account, and investment funds. On a simple level, doubling the amount of dollars in circulation cuts the value of each of your dollars in half.
There is far too much disinformation and purposeful conflation going on in the media right now. With Biden constantly boasting about ‘lowering inflation’, millions of Americans are being fooled into thinking that Biden is bringing prices down. First, the President cannot directly affect prices, especially by lowering them. The only way a government official could directly reduce prices would entail seizing the economy (communism/fascism) and/or commanding that the prices be lowered.
The man who raises cows and bulls has valuable assets, but livestock is difficult to carry in your pocket and not practical for dividing into small denominations. Animals also live for only a few years. The fisherman has lots of fish, but they also die quickly, and not everyone even likes fish.
Today marks the 109th anniversary of the creation of the Federal Reserve on December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law. The financial insiders rejoice this holiday season, as they have every Christmas Eve for the last 109 years, congratulating themselves on their stupendous fortunes and looking forward to a prosperous new year!
Time for some cold hard brutal honesty. To the minority of New Hampshire Republicans who do not yet support peaceful separation from DC politicians, have you thought about what it would take to shake you from your slumber and make you realize that secession is literally our only option if we want our children to have the same liberties we had?
Nearly every government eventually becomes greedy and seeks to steal more from its people than it could via simple taxation. Tyrants in the federal government always wanted to control the money that the people used. Alexander Hamilton wanted the President to rule over the Americans for life with massive powers, and he wanted the central government to be quite authoritarian.
If you are at all concerned about the trillions of ‘dollars’ that the DC politicians and the federal government have created out of thin air over the past year, you should strongly consider getting some silver, gold, and other stable money.
The federal government’s Bureau of Labor Statistics released March’s inflation numbers on Tuesday, officially quantifying the inflation over the past twelve months. At 8.5%, the politicians claim that it’s the highest inflation rate since 1981.
Gresham’s Law states that in a competition between currency, bad money will win out over good money over time, in other words, the average person will be more likely to use their US Dollars to purchase goods and services over their Goldbacks because the gold will maintain value, while the US Dollar won’t. Shaffer gave his answer to the dilemma of Gresham’s Law.