Wednesday, March 30, 2011

Bernard von Nothaus

was convicted and could face 25 years in prison. Read here for the details of his incredible story:

http://www.nysun.com/editorials/a-unique-form-of-terrorism/87269/

In the meantime, 13 states are working on laws to make gold and silver legal tender.

http://www.foxnews.com/politics/2011/03/04/utah-house-passes-recognizing-gold-silver-legal-tender/

Of course, the latter article finishes with the readily passed off lie that the gold standard caused the depression. Indeed the depression was caused by the Fed. It was with the creation of this banking cartel, the Fed, that the gold standard effectively ended. Though Dollars were still redeemable for gold in theory, because of the over-expansion of credit after the founding of the Fed, any meaningful redemption would have resulted in its bankruptcy.
Which is of course what happened in 1933. At the same time that the number of Dollars required to redeem 1 ounce of gold was increased from $20.67 to $35, private ownership of gold was outlawed.
The re-setting of the gold price amounted to a bankruptcy in which creditors were repaid only about 59% of their claims. At the same time, all privately owned gold in the USA was confiscated by the government. That made any redemption, even at the new higher price, impossible.
Only after 42 years had passed, in 1975, was it again legal for US citizens to own gold. At that time the price was $180 per ounce.

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