45 years ago today on August 15th 1971 the U.S. Dollar died.
It had been circling the grave for some time since the start of the Income Tax and Federal Reserve in 1913 and the tyrant Roosevelt's confiscation of gold and making gold non convertible for U.S. citizens in 1933.
What Nixon did 45 years ago was to 'temporarily' suspend the convertibility of the U.S. Dollar into gold. Now that dollar wasn't convertible into gold for American citizens, only foreigners. Nixon just shut the gold window down for foreigners.
At that point all the charts start to trend down.
At that point America started to trend down.
Now we don't necessarily have to return to a gold (or bimetallism) standard to fix this.
We have other options.
Instead of having a private central bank, you can nationalize the central bank and eliminate both the national debt and all taxes on U.S. citizens in one move.
I still prefer gold (and some form of minimal taxation if and only if we have a hard currency), but a nationalized central bank is a great improvement to a private central bank.
Not to go all conspiracy theory here, but I'd even prefer a global central bank with a global one world currency than the competitive devaluation game we get with every country having their own private central bank. Every country having their own nationalized central bank would be an improvement though and gold / bimetallism would be ideal in my world.
We don't get a choice though.
The cashless world with negative interest rates is coming.
We need to push back.
No more taxes on human beings until there is hard currency again.
