Removal of the gold standard was government's admission that it has no intention of ever paying it's debts.
There is no worry of redemption for an underlying asset.
When debtors call, it simply prints the notes, that have become the new standard, necessary to fulfill its obligation.
In essence, the government counterfeits its own money, debasing the value of its own note, at the expense of all those who use and are reliant on that same note.
Value has been stolen from the citizens to facilitate government largess, benefitting the politically connected.
Jeremy Cady
npub1zfw…sl0t
2024-06-28 13:11:27
Author Public Key
npub1zfwrn5gnl9gml2lnr8kmarqdsd9yle7l5rvv84prz0ghjq8nerrs73sl0tPublished at
2024-06-28 13:11:27Event JSON
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"content": "Removal of the gold standard was government's admission that it has no intention of ever paying it's debts.\n\nThere is no worry of redemption for an underlying asset.\n\nWhen debtors call, it simply prints the notes, that have become the new standard, necessary to fulfill its obligation.\n\nIn essence, the government counterfeits its own money, debasing the value of its own note, at the expense of all those who use and are reliant on that same note.\n\nValue has been stolen from the citizens to facilitate government largess, benefitting the politically connected.",
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