6553Fed's admissions of fraud and confidence games.
- Sep 1, 2004Nilbux --
You have decided that since the FRN is not backed by gold it is therefore a
fraud. That is your decision and you are welcome to it. But the rest of
the world will think you are a couple cans short of a six-pack.
You and I can agree to deal in chicken eggs, and establish a "price list" of
various goods and services based on chicken eggs. There is no gold backing
up the chicken eggs, but that does not mean that dealing in chicken eggs is
a fraud. Especially not a fraud executed by me upon you.
The Fed Reserve is "licensed" to create a medium of exchange that is
convenient, predictable and usable all over the world. The Fed Reserve has
done exactly that. Just because both you and I believe that is a violation
of the Constitution does not make it fraud. Except maybe to you.
And just because the Fed Reserve admits that the exchange of FRNs is little
more than a computer entry somewhere does not make it a fraud. And it
CERTAINLY doesn't mean the Fed is ADMITTING it to be a fraud. Except maybe
I am very aware of what Modern Money Mechanics states. In fact, I am
teaching from it again this coming Monday evening. You, however, DO NOT
seem to be aware of what Modern Money Mechanics states. That document
states very clearly the nature of FRNs as being an agreement to honor at
face value all over the world. There is no hard asset backing FRNs. The
ENTIRE WORLD KNOWS THIS! And the entire world has agreed to honor FRNs at
face value and use them as a means of exchange.
THIS IS NOT FRAUD! Except maybe to you.
You seem to need a dictionary. This way you can discover that the
confidence of someone is not the same as a con game. Look it up. One is
under confidence and the other is under con. They are different. Except
maybe to you.
You call it imaginary. But I usually refrain from using that word for
something that I can touch, taste and spend. Most people do the same.
Except maybe you.
There is no question that sooner or later the "confidence" of the entire
world will end, as far as the FRN is concerned. At that time, America will
have an economic collapse like nothing ever seen in history. This is why
people like you and me purchase hard assets and land. Gold, silver and what
I can grow on my land will be the only means of survival when that time
comes. And you can help people prepare for that time by encouraging them to
purchase gold, silver and land.
But if you start the conversation by telling them that their checking
account is imaginary, then they will think you are stupid or insane. You
will never be able to help them.
The Fed Reserve never admitted, in Modern Money Mechanics or anywhere else,
that the monetary system on which the entire world is standardized is a con
game. Just because you have the ability to yank words off of a page and
redefine them doesn't mean the author intended what you just invented.
Get over it, deal with reality. You will help more people understand the
truth that way.
Yours in freedom,
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