Poor Man Survival
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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.”
Real history
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®
Related:
Politics is
nothing more than the lowest form of human seeking power over others; liars, cheats, attention-getters, murderers, and psychopathic
maniacs, who will say anything to get elected, and then act as their immoral
normal selves once in power. This is inclusive of ‘almost’ all of them
regardless of their rhetoric-spewing. But as always, the masses gather round,
and find their choice of slime to support…
The Middle
Class Is Being Systematically Destroyed
If you wanted to destroy the
middle class, one way that you could accomplish that goal would be to flood the
system with money. Of course that is precisely what we have witnessed
over the past few years. Our leaders have pumped trillions of new dollars
into the system, and the wealthy have gotten much, much wealthier.
59 Percent Say Bidenflation is Crushing Families
27 Companies Laying Off Thousands of Workers
These big companies recently announced
job cuts of 1,000 employees or more.
Inexpensive Landscape Borders: Ideas and Tips
How to Survive a Post-Disaster Urban Collapse
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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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SIDEBAR
Help
us to protect and preserve our freedom, self reliance-your support is appreciated! May is National Law Enforcement Month!
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.
Power Grid Down and So Is Your
Heat? No More!
VESTA!
The FIRST Self-Powered Indoor Space Heater & Stove combo.
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HEAT AND COOK indoors!
·
Use up to three canned heat units at the same time.
·
SAFE to
use INDOORS when
used with InstaFire
6-Hour Canned Heat Plus!*
·
Weighs only 7.6 pounds! Easy to transport.
·
Measures 11" L x 7.5" W x 5.25" H when used
as a stove.
·
Measures 11" L x 7.5" W x 10.75" H when used
as a heater.
·
Won’t reveal your LOCATION!
·
Space heater indoors warms up 200 square feet!
Be Ready For The Unexpected-Emergency Supplies
Available
Natural & Man-Made Disasters happen
frequently-Is your family prepared for the unexpected?
·
Emergency solar/hand cranked radios; First Aid
supplies, Emergency kits, 72-Hour Food Kits, Bug-Out Backpacks
·
Open M-F 9:30-5
@ Stor-Your-Stuff 151 N Blacks Corners Rd Imlay City 48444 [near 4th St] *While
supplies last-limited quantities.
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Natural
disasters don't wait for a convenient time
And you shouldn't wait to prepare either. In some cases there is
little to no warning.
Prepare now to lessen the impact of disasters and emergencies
Remember: You can’t buy life insurance after you’re dead!
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Useful
Resources from our storefront-See new items!
You Can’t
Buy Life Insurance After You’re Dead-Prepare NOW for Emergencies…
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portion of our proceeds is donated to charitable Veterans groups such as
Wounded Warriors & the VFW!
Support our efforts by shopping my storefront…
4 comments:
Does anyone still trust the Biden Administration, the Fed, Schools, the media? We sure don't!
Wired Magazine Says It's: "A Tool for Government Surveillance of Citizens and Control Over Their Financial Transactions."
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
Biden will go down as the worst President ever in our history.
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