G. Edward Griffin
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Chapter 7 Summary: The Barbaric Metal
Knowledge of the nature of money is essential to an understanding of the Federal Reserve. Contrary to common belief, the topic is neither mysterious nor complicated. For the purposes of this study, money is defined as anything which is accepted as a medium of exchange. Building on that, we find there are four kinds of money: commodity, receipt, fiat and fractional. Precious metals were the first commodity money to appear in history and ever since have been proven by actual experience to be the only reliable base for an honest monetary system. Gold, as the basis of money, can take several forms: bullion, coins, and fully backed paper receipts. Man has been plagued throughout history with the false theory that the quantity of money is important, specifically that more money is better than less. This has led to perpetual manipulation and expansion of money supply through such practices as coin clipping, debasement of the coin content, and, in later centuries, the issuance of more paper receipts than there was gold to back them. In every case, these practices have led to economic and political disaster. In those rare instances where man has refrained from manipulating the money supply and has allowed it to be determined by free-market production of the gold supply, the result has been prosperity and tranquility.
Get the book for yourself or for others you want to wake up. It reads like a mystery novel and is filled with colorful metaphors that make the seemingly complex world of banking very easy to comprehend. Visit RealityZone for your copy today. Summary is re-printed with permission from G. Edward Griffin.
See other parts below:
PART 1: The Journey to Jekyll Island
PART 2: The Name of the Game is Bailout
PART 3: Protectors of the Public
PART 4: Home, Sweet Loan
PART 5: Nearer to the Heart's Desire
PART 6: Building the New World Order
6 comments:
I usaly refere to this crisis with my Monopol analogy.
We all have played it, and I have a memory of times that we altered the games chash flow, becasue after playing awile, some one gets broke, and instead of stopping the game, or the partisipant leave the game(as normal,one out, three to go).
We starts to use Toilet paper and markingpenn, to whrite the value on it.
Hehe, and its just a matter of miniutes for others see the threat and demands their own toilet paper rulls and a marking pen.
Thats caled Infaltion.
What the fu.. is so difficoult to undrestand, thats exactly what the FED and, your even more stupid Gov. have done.
And at warp speed we head for a future where, toilet paper infact will be more valued, because its fully usabel as toiletpaper, but try it with a Dollar bill.
You are screwed.
Dollar bills are crisper than toilet paper, not necessarily an advantage when you use them to wipe you rear end.
Yes, we are all screwed! It is just a short matter of time.
The difference between Toilet paper and Debt=Money
fiat currency is: that toilet paper is softer to wipe your ass with, and the other one leaves a ink stain on your ass.
Fiat currencies work well, that's why every nation uses them.. its the debt attached to them that must be paid to private bankers(that plot and scheme in secret) and the fraud known as fractional reserve lending that ruins economies...we need a public central bank that operates transparently, abolishes fractional reserve fraud and abolishes and makes obsolete government borrowing
Griffin, of course, is part of the power structure, so he's going to tell us the wrong thing or a lie.
He says there are 4 means of exchange. But the fact is, that is AFTER the SCUM ptb took over, and started enslaving us.
There wre OHTER means of exchange: Barter or Goods and services, and they still exist among Indigenous Peoples. What it is, is in fact, "GIVING." If a person cannot hunt or is hurt or is too old, the Indigenous Peoples, gave them part of their food. Another name for this is "SHARING."
Also, they considered something worked with the hands, polished or woven, more valuable; for example, a polished mother of pearl MEDALLION, be it an irridescent Sky Blue, or Green or Cream. It was the beauty of an object that was valuable. (I've seen such EXPENSIVE artifacts in Hand Goods Markets).
Anyway, over and above such, corn and wheat and other food seeds, not to mention SWEET WATER,
Friendship and having people watch your back, and KNOW-HOW on how to hunt, and gather food and plant crops is MORE important.
All these are MORE valuable that the 4 items, Griffin mentioned.
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