{"id":60766,"date":"2021-12-04T06:31:03","date_gmt":"2021-12-04T11:31:03","guid":{"rendered":"https:\/\/olduvai.ca\/?p=60766"},"modified":"2021-12-04T06:31:03","modified_gmt":"2021-12-04T11:31:03","slug":"evil-is-the-root-of-all-fiat-money","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=60766","title":{"rendered":"Evil is the Root of All Fiat Money"},"content":{"rendered":"
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EVIL IS THE ROOT OF ALL FIAT MONEY<\/a><\/h3>\n<\/header>\n
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\u201cSo you think that money is the root of all evil. Have you ever asked what is the root of all money?\u201d
\n-Ayn Rand<\/strong><\/p>\n

Money used to be a stable medium of exchange and a store of value but that was in the days when there were sound monetary principles, mostly backed by gold or silver.<\/p>\n

Since 1913 and especially 1971 there is no discipline and no morals when it comes to the issuing of money as unlimited amounts of\u00a0fake<\/u><\/s>\u00a0fiat money is printed at will.<\/p>\n

In today\u2019s fiat money world, there is only one answer to Rand\u2019s question \u201cWhat is the root of all money?\u201d, namely:<\/p>\n

\u201cEvil is the root of all fiat money.\u201d<\/strong><\/p>\n

\u2013 Egon von Greyerz<\/strong><\/p>\n

On the IMF (International Monetary Fund) website there is\u00a0an article<\/a>\u00a0stating that \u201cMoney is something that holds its value\u201d \u2013\u00a0Hmmm\u2026..<\/strong><\/p>\n

T<\/strong>he meeting of bankers and politicians on Jekyll Island in November 1910 laid the foundations for the Federal Reserve Bank. Three years later in 1913 the Fed was founded.<\/p>\n

From that moment on, private bankers were running the US monetary system including the printing of money. But the British pound, backed by gold until 1931, was the global currency of choice until then.<\/p>\n

CURRENCY SYSTEMS ARE EPHEMERAL<\/strong><\/h3>\n

The Bretton Woods Agreement in 1944 established a new currency system based on the dollar. From that time, all major currencies were pegged to the US dollar and the dollar itself was pegged to gold at $35 per ounce. The dollar thus became the world\u2019s reserve currency bolstered by big gold reserves. These were accumulated gradually from the early 1900s to the late 1940s. The US received payment in gold during WWII from its sales of arms and other supplies.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

EVIL IS THE ROOT OF ALL FIAT MONEY \u201cSo you think that money is the root of all evil. Have you ever asked what is the root of all money?\u201d -Ayn Rand Money used to be a stable medium of exchange and a store of value but that was in the days when there were […]<\/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":[2,6],"tags":[14995,10851,309,3918,18507,647],"class_list":["post-60766","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-egon-von-greyerz","tag-evil","tag-fiat-currency","tag-fiat-money","tag-gold-switzerland","tag-precious-metals"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60766","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=60766"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60766\/revisions"}],"predecessor-version":[{"id":60767,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/60766\/revisions\/60767"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=60766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=60766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=60766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}