{"id":33574,"date":"2018-04-20T05:44:52","date_gmt":"2018-04-20T10:44:52","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33574"},"modified":"2018-04-20T05:48:55","modified_gmt":"2018-04-20T10:48:55","slug":"the-dollars-70-year-dominance-slowly-coming-to-an-end","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33574","title":{"rendered":"The Dollar\u2019s 70-Year Dominance Slowly Coming To An End"},"content":{"rendered":"
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The Dollar\u2019s 70-Year Dominance Slowly Coming To An End<\/a><\/h3>\n<\/div>\n<\/header>\n
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The US dollar hasn\u2019t been backed by gold since 1971, but that might change soon. Republican Congressman Alex Mooney<\/a> is proposing that the US once again place value on the dollar by backing it with physical gold. The problem is, the Federal Reserve has been printing money with the abandon of a drunken copy machine, and the 147.3 million ounces of gold being held in Ft. Knox may not be enough to cover the out-of-control fiat currency currently in circulation.<\/p>\n

According to Alex Mooney\u2019s bill, the dollar has decreased 30 percent in purchasing power since 2000. It has lost 96 percent of its value since 1913. On an average, the US is devalued by 50 percent every generation.<\/p>\n

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View image on Twitter<\/span><\/a><\/p>\n

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The Federal Reserve – silently robbing you of your purchasing power ever since 1913…<\/p>\n

RETWEET if you agree. \"\ud83d\udd25\"\"\ud83d\udd25\"<\/p>\n

10:52 AM – Mar 29, 2018<\/a><\/time><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/blockquote>\n<\/div>\n
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If the gold standard were to be reinstated, control of the dollar would revert to free market forces instead of the whim of the Federal Reserve. It would mean that each dollar would have its equivalent in gold, as it did prior to 1913. At that time, the US economy grew at a robust annual rate of 4 percent compared to an average annual growth of 2 percent<\/a> since 2000.<\/p>\n

Officially, the US has 8,133.5 tons of gold in reserves, although the government won\u2019t confirm that number. No one is permitted inside the various vaults to verify. Even the purity of the available gold bars is in question, as many may not conform to industry standards. As other countries contemplate the return to the gold standard, unless the US catches up, the dollar will lose its dominance as the world reserve currency.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Dollar\u2019s 70-Year Dominance Slowly Coming To An End The US dollar hasn\u2019t been backed by gold since 1971, but that might change soon. Republican Congressman Alex Mooney is proposing that the US once again place value on the dollar by backing it with physical gold. The problem is, the Federal Reserve has been printing […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5988,18902,374,18792,659,827,839,5482],"class_list":["post-33574","post","type-post","status-publish","format-standard","hentry","category-economics","tag-5988","tag-alex-deluce","tag-gold","tag-gold-telegraph","tag-purchasing-power","tag-united-states","tag-us-dollar","tag-world-reserve-currency"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33574"}],"version-history":[{"count":4,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33574\/revisions"}],"predecessor-version":[{"id":33578,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33574\/revisions\/33578"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}