(Paraphased and condensed by Boston C! curated and inspired from a ZeroHedge article. Authored by Egon von Greyerz via GoldSwitzerland.com https://www.zerohedge.com/commodities/dollars-final-crash)
Nixon was just another desperate leader who was running out of real money and needed to create unlimited amounts of fiat money. His decision to close the gold window was the beginning of the end of the current monetary system.
"Although the decision was fatal, Nixon was clearly not personally responsible. What the world saw in August 1971 was just another desperate leader who realized that he couldn’t stick to the monetary or fiscal disciplines necessary to maintain a sound economy and a sound currency.
"In history, Nixon should be seen as the rule rather than the exception. Since every currency has been slaughtered throughout history, one particular leader will also be required to be the executor.
"So in 1971, history had elected Tricky Dick to be the inevitable destroyer of the dollar."
"...governments hate gold since it reveals their total mismanagement of the economy.
"Because as soon as they run out of money, tying the currency to gold creates an extremely inconvenient road block that must be eliminated.
"As gold is an inconvenient truth sayer, tying it to the currency prevents governments from holding on to power. So out with gold and sound money and in with credit expansion and fake money that temporarily buys votes.
"Printing money and buying votes is an extremely costly exercise that without fail leads to the collapse of the economy and the currency."
"What governments are doing with money would put ordinary people in jail.
"How can anyone call dollars or euros legal tender when most of it is created without the production of any goods or service.
"Money fabricated by pressing a button by an index finger can never be worth more than the cost of moving the finger. Still these small finger movements are generating trillions of dollars, euros, yen, RMB and other currencies in an illusory creation of wealth."
"Humpty Dumpty has already fallen and is irreparable.
"Any artificial and fake measures will not ever put Humpty together again.
"The current monetary system has given the 0.1% elite illusory wealth and power. As the current currency system collapses so will their power and illusions."
Gold is today as cheap in relation to US money supply as it was in 1970 when gold was $35 and in 2000 when gold was $300. Physical gold and silver will be life savers as bubble assets like stocks, bonds and property collapse. Due to the fragile financial system, precious metals must be held in private & safe vaults outside the system.
Not financial advice, but I'm trading into relationships, buying silver, gold and cryptos!
Boston C! Up and away!
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