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Tag Archives: fiat money

  • Blog
    Peak Prosperity

    A Brief History of US Money – Crash Course Chapter 9

    The rules get changed (a lot)
    by Adam Taggart

    Friday, August 15, 2014, 10:29 PM

    16

    Looking at the past 100 years of the US dollar's history, one theme becomes abundantly clear: in times of crisis, the US government has no issue with changing its own rules or breaking its own laws. And those "temporary" emergency measures have a nasty habit of quickly becoming permanent.

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  • Blog
    Peak Prosperity

    Money Creation: Banks – Crash Course Chapter 7

    Get ready for your mind to be repelled
    by Adam Taggart

    Saturday, August 2, 2014, 1:14 AM

    5

    Chapter 7 of the Crash Course is now publicly available and ready for watching below.

    As a follow-on to the previous chapter explaining the nature of fiat money, this week's video details one of the two methods by which it is created: fractional reserve banking. As John Kenneth Galbraith famously stated "The process by which money is created is so simple the mind is repelled."

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  • Blog
    Ralf Siemieniec/Shutterstock

    What Is Money?: Crash Course Chapter 6

    The world revolves around it, but it's poorly understood
    by Adam Taggart

    Friday, July 25, 2014, 3:52 PM

    11

    Money plays an incredibly large role in the world, but yet it remains poorly understood. What exactly is it? What do the pieces of paper we hold in our wallets and bank accounts actually represent?

    Developing an understanding of the underlying role of money allows us to better see when it is being used properly, or abused. And history shows that abuse is more the norm than the exception: the record shows over 3,800 previous examples of paper currencies that no longer exist.

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  • Podcast

    Jim Rickards: We’re Witnessing One of the Greatest Failed Experiments in Economic History

    It all ends in the collapse of the dollar
    by Adam Taggart

    Saturday, September 21, 2013, 7:50 PM

    110

    Jim Rickards, author of the best-seller Currency Wars, sees the world's central banks embroiled in a "race to debase" their currencies in order to restore – at any cost – growth to their weakened economies.

    In the midst of the fight, the U.S. Federal Reserve wields oversized power due to the dollar's unique position as the global reserve currency. As a result, actions by the Fed create huge percussive ripples across the battlefield, often influencing events in ways little understood by the players – and especially by the Fed itself.

    In Rickards' words, the policymakers at the Fed "think they are dialing a thermostat up and down, but they're actually playing with a nuclear reactor – and they could melt the whole thing down":

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  • Podcast

    Robert Mish: Front-Line Observations from a Seasoned Gold & Silver Bullion Dealer

    The game is finally changing
    by Adam Taggart

    Saturday, April 27, 2013, 4:48 PM

    58

    Spikes and plunges in the U.S. dollar price of gold; this is not new. It goes back to the early 1970s. We remember that for most of the past 40 years, physical gold and silver investors, particularly in the U.S., tended to chase big rallies and buy late, while too often selling after plunges or after long periods of price erosion. Gold was sold then primarily as an inflation hedge. When it was working, speculators bought much more. When it stopped working as an inflation hedge, they first became puzzled and frustrated, then fearful, and they sold out at bottoms.

    So, fast-forward to this month, and today’s gold community starts to look a bit different as the breakdown below previous gold and silver price support levels began, and especially last week, with gold going below $1400. Physical buyers were outnumbering sellers in our store by at least 5 to 1.

     

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  • Blog

    Straight Talk with G. Edward Griffin: What’s Coming Next Isn’t Pretty

    by Adam Taggart

    Monday, November 29, 2010, 6:19 PM

    0

    “Straight Talk” features thinking from notable minds who you, the ChrisMartenson.com audience, have indicated that you want to learn more about.  Readers submit the questions they want addressed and our guests take their best crack at answering. The comments and opinions expressed by our guests are their own.

    This week’s Straight Talk contributor is G. Edward Griffin — political lecturer, film producer, and author.  In his best-known book, The Creature from Jekyll Island, Griffin details how money is created and exposes the anything-but-boring history of how the Federal Reserve came into being. The book provides one of the best explanations of how our monetary system works, as well as a prescient foreshadowing of the Fed’s bailout of the financial system at taxpayer expense.  






    1. Practically everything that you outlined in your book The Creature From Jekyll Island has come to pass.  Bailouts, increased centralization of power, all of it.  Now what happens?  We are having a hard time envisioning the current debt-based fiat money system surviving for much longer (let alone forever).  If not fiat money, then what?   What are the next moves for those who might wish to see the continuation of their extremely lucrative franchise?

    GEG:   What happens next also is portrayed in my book, and it isn’t pretty.

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  • Blog

    Daily Digest – May 3

    by Davos

    Sunday, May 3, 2009, 3:37 PM

    0
    • Week #19, Friday Night Special #30
    • Week #19, Friday Night Special #31
    • Week #19, Friday Night Special #31
    • Ford Sales off 31.3% YoY in April
    • Company warned officials of flu 18 days before alert was issued
    • Outbreak Map/Time Line Provided by Veratect Biosurveillance
    • “Paper money eventually returns to its intrinsic value – ZERO” (H/T Jarhett)
    • Foreclosures: Banks Setting Opening Auction Bid Below Amount Owed

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