The Gold Standard Debunked - VideoSubmitted by DrKrbyLuv on Thu, 12/16/2010 - 12:17
I'm concerned that "gold backed money" is being accepted as a viable alternative by many in the freedom movement. It is a false choice, a diversion, it is neither desirable nor doable as this video shows:
Gold money has been foisted upon the freedom movement in an attempt to hide and hinder real monetary reform - the key to our freedom and future prosperity.
Here is the great truth that they do not want you to know:
The most important financial decision an independent nation may make – does it use sovereign credit or sovereign debt?
Sovereign Debt – The sovereign debt route typically entails a nation using its credit to issue bonds which act as collateral and a pledge to borrow money. The collateral is the backing of the people and both private and public property. It is an instrument of debt.
Sovereign Credit – Enables nations to directly issue money instead of bonds. Both bonds and money are backed by the SAME collateral, the difference is that sovereign credit is totally debt free.
Thomas Edison elegantly explained the difference in a few paragraphs, that are more succinct and important than a library of economic books:
“If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good, makes the bill good also…
Both are promises to pay, but one fattens the usurers and the other helps the people. If the currency issued by the Government was no good, then the bonds would be no good either. It is a terrible situation when the Government, to increase the national wealth, must go into debt and submit to ruinous interest charges…”
There is only one way to restore the republic and break free from debt slavery – we must once again issue our own money - the specie doesn't matter!