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Question: How do you double the value
of a Russian rouble?
Answer:
Put two holes in it and sell it as a button.
The
above was a joke that was circulating during my school days some decades ago
and little did I suspect at that time that comedy contained the seeds of
truth.
Since
then, time has escaped quite quickly as has the value of all our fiat dollars
and currencies. The silver coin that many of us handled as children some
decades ago could buy us lunch and can still buy us lunch, but the worthless
successors that followed are incapable of doing so.
In
an article I wrote in January 2010, titled, "Watch your Money
Disappear" , I made the following observation:
Instead
of realizing that governments are cannibals who have us in a slowly simmering
pot, we instead wear the dopey smile of someone in a Jacuzzi. If you doubt
this then you only have to consider how gold and then silver have gradually
been withdrawn from circulating currency and that before long even copper and
nickel will be removed from the coinage of the USA.
Well
that day has come a lot closer because by press release dated March 7, 2011,
the United States Mint has announced that it is requesting public comment on
factors to be considered in conducting research for alternative
metallic coinage materials for the production of all circulating coins.
Thousands
of years of history, experimentation and logic are being put aside step by
step as our political and banking masters seek to suck out the value of our
labour and savings in return for a worthless coin or piece of paper that is
an insult to our very existence as thinking human beings. And perhaps that is
the problem - we no longer think, we just fall into line and head or look
wherever the finger of big brother is pointing. I think the name that has
been given to such individuals is "sheeple".
Make
no mistake, coins will come to be made of worthless pieces of aluminium or
brass and perhaps they might even convince the people that all coins should
be scrapped and instead replaced by some sort of smart card which can track
you and your purchases. Perhaps they might even issue plastic casino-like
chips with embedded RFID chips that can be tracked and detected no matter
where they are hidden so that they can be intercepted at airports and border
crossings.
In
time they will convince you that your wealth can be stored as an electronic
impulse on a computer in the same way that Bernanke presses buttons in the
process of propping insolvent banks with fake money.
Intrinsic
value and scarcity will no longer be a characteristic of circulating currency
and without these, the store of value aspect will die a gradual death as
well.
The
"boffins" at the Mint think that they can give legitimacy to their
plans by asking for public comment to shape the outcome of their
"research and evaluation of potential new metallic coinage
materials." Rest assured that the so-called public submissions will be
nothing more than carefully orchestrated offerings that have already been
prepared and which are awaiting delivery. In other words the cake has been
baked.
If
the ignoramuses at the United States Mint had any sense at all they would
scrap the $1 note in favour of the $1 coin. There would be hundreds of
millions of dollars saved annually and it is known that coins carry far fewer
germs and far less bacteria. If the coins were of silver then the germicidal
effects of such a coin would be a plus. Finally, what better hedge against
the ravages of inflation than a silver or gold coin?
Our
masters are scraping the bottom of the barrel. Our currencies are backed by
debt. Our politicians are backed by moneyed interests. Our banks are backed
by lousy accounting standards and clever accounting. Our bankers are backed
by inept regulators who will fail to act within the five year time frame
required for the prosecution of securities fraud and by central bankers who
manufacture confetti masquerading as money.
I
ask you, "who is backing the people?" The answer to that is
gold and silver as foreseen and prescribed by the founding fathers of the
United States of America.
Unless
you have need of more buttons I suggest you get off your behinds and take a
stand against this subtle, all embracing exercise by the United States Mint
and write to the them, your Congressman and even your President. If you don't
then in good time you may find that you have lost your shirt and trousers and
have nothing left to button up anyway.
Peter Souleles
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