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Richard Russell – Expect An Avalanche Of Fiat Money Creation

from KingWorldNews:

In the early days of the US, the dollar was trusted. The reason it was trusted was that the dollar was backed by physical gold. Those were the days when the dollar was considered “good as gold.” The obvious reason was that a person could take his dollars into any bank, and exchange his dollars for gold.

This changed in 1933 when Americans were forbidden by law to own gold. As far as Americans were concerned, they were now dealing with paper and could no longer exchange their paper for gold.

So in 1933, Americans were no longer on the gold standard. But foreigners who were creditors of the US would settle their accounts in gold. If the US had a debt with a creditor, the creditor could settle his debt by calling in a quantity of gold.

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2 comments to Richard Russell – Expect An Avalanche Of Fiat Money Creation

  • Gnostic

    Did the dragon family take control of the Federal Reserve Board

    Multiple sources are reporting that as of October 17th, 2014, the Dragon family has taken over control of the international operations of the Federal Reserve Board and that as a result, the cabal’s ISIS and ebola campaigns, which were negotiating tactics, will be wound down. Under the deal, the United States, Europe and England, respectively, will be issuing their own domestic currencies. However, the world’s reserve currency will no longer be controlled by the families that used to own the Fed, the sources, including pentagon and CIA officials, said.

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