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Tuesday, May 23, 2023

De-Dollarization-Protect Yourself; Bidenflation hurting Americans


Poor Man Survival

Self Reliance tools for independent minded people…

ISSN 2161-5543

A Digest of Urban Survival Resources


Guard yourself from 'de-dollarization' by de-dollarizing


The dollar is stuck in the mud. It has basically the same value now as it did during the time of the engineered 10 percent devaluation of 1973 shortly after the U.S. went off the gold standard… and then it fell another 10 percent last month.

In 1973, there was a market crash. From 1973-1975 the U.S. was in a deep recession. Today, the Fed constantly tries to reassure us with the Banksters in control there will be no more financial shocks and another financial crisis is unlikely in our lifetime.

If that's true, then why is the dollar stuck? If the Fed manages to "engineer" its way out of the post-lockdown mess they created, the next one will come even sooner, so the time to educate and protect yourself can't begin soon enough.

What is the dollar?

In the Constitution, there is really only one direct reference to the origins of what we refer to as "paper money." It is in Article I, Section 10, which reads: "No State shall... emit Bills of Credit..."

At that time, paper that was intended to circulate as money — but was not redeemable in gold and silver — was labeled "bills of credit." The description makes sense and raises a fact few people realize about the dollar: Such paper is a device for expanding the credit of the issuer.

It has no intrinsic value, other than the confidence we have in its exchange value. It will have even less value if countries succeed in “de-dollarizing” after the U.S. placed sanctions on Russia over the Ukraine war.

Aljazeera gives us some honest reporting on this, revealing “…it isn’t just Beijing and Moscow. From India to Argentina, Brazil to South Africa and the Middle East to Southeast Asia, nations and regions have accelerated efforts in recent months towards arrangements aimed at reducing their dependence on the dollar. At the heart of these de-dollarisation initiatives is the fear in many capitals that the US could someday use the power of its currency to target them the way it has sanctioned Russia, according to political economists and sanctions experts.”


Why does history repeat itself? Because unless we are very careful, what we think of as "random" behavior is actually quite predictable — and often self-destructive and irrational. That means people can panic, and drive the economy right off a cliff.

Recalling the 1970s might seem like ancient history to you, but let's go very far back in time… all the way to the 1770s — yes, much farther into history than your typical "financial analyst" is willing to go (this is why they always think "this time it's different").

The origin of paper money goes back even farther, but for our purposes we will focus on 1777, when after the War of Independence, Congress requested that individual states stop printing paper money, but the advice was ignored. They did as Congress did, not what it said.

At first, the surge of paper money brought on what appeared to be a glow of prosperity. As one historian described it:

"The country was prosperous... Paper money seemed to be the 'poor man's friend;' to it were ascribed the full employment and the high price of farm products that prevailed during the first years of the war...

"By 1778, for example, the farmers of New Jersey were generally well off and rapidly getting out of debt, and farms were selling for twice the price they had brought during the period 1765-1775. Trade and commerce were likewise stimulated; despite the curtailment of foreign trade, businessmen had never been so prosperous."

Of course, this warm glow of unbacked currency didn't last long! It was tarnished first by the fact that the price of goods people bought began to rise. But even worse by the fact that — as the money in circulation increased and expectations of its being redeemed faded — a given amount of money bought less and less.

This set the stage for speculative buying, holding on to the goods for a while, and making a large paper profit on them. Any efforts to stem the tide of paper money only succeeded in causing shortages of goods, caused creditors to run from debtors trying to pay them in depreciated currency, and caused the onset of suffering.

Does that really sound so very different from what we have today, with empty store shelves, stores running to ban cash and 45 million plus Americans on food stamps?

The solution to the problem was a standard by which paper money was redeemable by gold and silver, which have always had universal value to people all over the world. The gold standard.

But it does point to one little problem with this seemingly sound philosophy, as far as the powers that be are concerned: Namely, when the currency must be redeemable by tangible, equivalent value — the people themselves control their money... the economy... and the government.

Both the Constitution and the Bill of Rights were meant to ensure America operated this way forever. Yet, that ceased to happen.

The real date that the U.S. went off the gold standard on June 5, 1933, when Congress enacted a joint resolution nullifying the right of creditors to demand payment in gold, and all gold was ordered confiscated and sold to the government at a price of $20.67 per ounce. In 1934, the price was increased to $35 an ounce, effectively increasing the gold on the Federal Reserve’s balance sheets by 69 percent. This increase in assets allowed the Federal Reserve to further inflate the money supply.

On August 15, 1971, the U.S. completely dumped the only solution to the problems of paper money, the gold standard, when President Richard Nixon announced that the United States would no longer convert dollars to gold at $35 an ounce.

In 1974, President Gerald Ford signed legislation that permitted Americans again to own gold bullion, but by then, all our dollars were intrinsically worthless and only as strong as the confidence the people themselves had in them. And it is confidence alone that is holding the system together. The implications are scary... and you're starting to see the effects right now.

It is merely the confidence of the people — the irrational, emotional and reactionary people — that gives any value to the dollar whatsoever. Is it surprising that when talk of war starts, when people are fighting with each other in the streets, and when drought is ravaging the country, that the people's confidence begins to fail?

To protect yourself from the downward spiral of the dollar, you should keep your money out of banks beyond what's needed to cover your bills. With fees and inflation, it's likely you lose money when keeping it in a bank. So you should hold cash, both in case of a bank holiday and for other emergencies.

How to withdraw wisely

When a national currency is destroyed and the economy collapses, the only recourse is gold.

Gold will have to be at a much higher price to back the U.S. dollar and those who hold gold will greatly benefit. Right now, we are in a period of disappearing financial assets and entering a period of physical assets.

Those who are not aware will take action or have taken action to avoid the downtrend in value, and possible collapse, of financial (paper credit) assets, and replace them with physical assets. It is time to be alert to the signs of a currency crisis and a credit crunch that could tie up your bank account and bring about a moratorium on your life insurance and annuity cash values.

If you have not done so already, please visit this page for a complete guide to currency collapse, de-dollarizing your money wisely, and buying and holding physical gold and silver.

Yours for the truth,

Bob Livingston
Editor, The Bob Livingston Letter®





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The feds are running the insurrection to overthrow America

The real insurrection against America is being run by a rogue, unelected federal government that considers We the People to be its enemies. The "Patriot Front" group that marches around with white masks and American flags is obviously (almost comically) just a bunch of FBI agents and recruits dressed up as patriots, thereby projecting the appearances of a militant patriot group so that the FBI can continue to justify its own pathetic (corrupt) existence.

But when true patriots tried to peacefully stand against a rigged election on January 6th, they were arrested and charged with a litany of felony crimes in one of the most outrageous abuses of prosecutorial discretion this nation has ever witnessed.

In today's BBN episode, I interview J6 victim John Strand, and we cover just how quickly America's "justice" system has been weaponized against true Americans.

See the full article and broadcast video here.





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St. Michael the Archangel: Patron Saint of Police Officers

As the patron saint of police officers, St. Michael knows what it means to face the threat of evil and imminent danger. Saint Michael had a  history of battling evil; of which there is plenty in our society!

We’re donating St. Michael pendants to area police & sheriff departments…your donations help.  Use the PayPal ‘donate’ button at the top-any amount is appreciated.


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Be Ready For The Unexpected-Emergency Supplies Available

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Amanda said...

Does anyone still trust the Biden Administration, the Fed, Schools, the media? We sure don't!

Randy said...

Wired Magazine Says It's: "A Tool for Government Surveillance of Citizens and Control Over Their Financial Transactions."

Sam said...

Biden has set the stage for…

Legal surveillance of all US citizens
Complete control of all bank accounts and purchases
The ability to crush free speech and silence opposing voices

Bobbie said...

Biden will go down as the worst President ever in our history.