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The Nomad Economist
Premiered Jul 17, 2022
Fiat currency has no intrinsic value. This means the piece of paper or coin itself has no value. This approach to money varies from other forms of money whose value is derived from some physical good. It is usually gold or silver, and this is called commodity money.
Banks make the majority of their profits on interest-rate spreads called “Net Interest Revenue.” Globally, governments have created negative interest rate bonds, and banks can essentially borrow money at negative rates.
Then, the banks go out and loan to consumers and other businesses at a higher, positive rate. Why would you save it and work for it, if they can print it faster than you could work for it. Why you keep saving when they are printing it. The Rich do not work for money.
The Federal Reserve can always print more money. However, they cannot build houses or create companies to invest in. You need to exchange your cash for real assets! Cash is Trash. Printing paper money and buying gold with it. It will go down in history as the scam of all scams, an unprecedented wealth transfer.
Fiat money depends entirely on the belief that it has value. The Indians who sold Manhattan Island for Wumpum (beads and seashells) thought the same about their money. The intrinsic value of all fiat currencies is the same – zero.
Because all that money is created by issuing an equal amount of debt – MEANING THAT EXPONENTIALLY GROWING CHART REPRESENTS DEBT AS WELL AS MONEY. It is literally a zero-sum game. This is all public knowledge.
That and the money is being concentrated into the Money Power Monopolist Mega-Corporate Empire while the debts are being consolidated into the debt-money serf classes.
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When Nixon took us off the gold standard in 1971, gold was official $ 35.00 an ounce. At the approximate price of gold at $ 1,458.00, this would mean a compounded rate of 8.14% for 48 years. Based on $ 1,458.00, the dollar has lost 97.7% of its value against gold.
If gold went to $ 2,000.00, the compounded rate would be almost 8.8% and a loss of 98.25% for the dollar.
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