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Gold Telegraph
@GoldTelegraph
July 4th represents the United States 250th birthday.
However, the middle class is feeling the heat from a failing medium of exchange that gets constantly debased.
The things around you keep getting more expensive while your wages struggle to keep pace. The world feels the effect of exported inflation, as the dollar’s dominance lets America print and spend, pushing the pain of devaluation onto trading partners and emerging markets.
Constitutional money left over 50 years ago.
In 1971, under the Nixon Shock, the U.S. closed the gold window, ending the last remnants of dollar convertibility to gold and ushering in the pure fiat era we live in today.
What was once anchored to something real became backed by nothing but promises, endless debt, and the “full faith and credit” of a government that now owes tens of trillions.
The Founding Fathers spoke of the importance of a dependable medium of exchange, and they warned us exactly what would happen if we abandoned it.
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George Washington wrote that paper money would “ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”
Thomas Jefferson called it “the ghost of money” and warned that its abuses break up the measure of value, turning private property into a lottery. He viewed banking establishments and long-term government debt as more dangerous than standing armies.
James Madison declared paper money “unjust” and unconstitutional because it violates property rights as surely as seizing land.
John Adams pointed to “downright ignorance of the nature of coin, credit and circulation” as the source of America’s economic perplexities.
They had lived through the disaster of the Continental dollar, worthless paper that taught them a hard lesson:
Sound money isn’t optional. It’s foundational to liberty, commerce, and justice. That’s why the Constitution explicitly ties money to gold and silver.
Yet here we are, 250 years after declaring independence, celebrating with fireworks while the currency they envisioned has been replaced by a system that quietly transfers wealth from the productive middle class to debtors, asset owners, and the financial elite.
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Let’s see what happens… @judyshel
Source(s):
• https://x.com/GoldTelegraph_/status/2071394782643912837
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