40th Anniversary of the BIGGEST gold theft in history goes unnoticed

It was 40 years ago today that Richard Nixon closed the gold window.

The US say they have just avoided default...... Well they live in a dream world.

They have been in complete default now for FORTY FRAKKING YEARS!

[youtube]http://www.youtube.com/watch?v=iRzr1QU6K1o[/youtube]

 

"We must protect the American dollar as a pillar of monetary stability around the world"

nice to see the character of politicans hasn't changed in 40 years

neither has their accountability

 

"the effect will be...to stabilise the dollar"

 

It was meant to be a TEMPORARILY measure
40 years temporarily

 

gold peg, meet ZIRP

 

Question? With the gold standard what stopped a fiat back currency country from printing a couple of trillion and buying USD and redeeming the gold, thus they just got all the gold in fort knox for a pile of paper? Am I missing something?

 

Bugaboo of what is called "devaluation"

 

i am glad you noticed that

The PTB have a completely different sense of "time" ... 40 years is "temporarily" to them

 

Because 40 years is temporarily, that is way inflation is transitory

 

http://www.globalresearch.ca/index.php?context=va&aid=25154

Setting the Global Debt Trap

Prof. Carroll Quigley was an insider groomed by the international bankers. He wrote in Tragedy and Hope in 1966:

"The powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole.

"The apex of the system was to be the Bank for International Settlements [BIS] in Basle, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank... sought to dominate its government by its ability to control Treasury loans."


The debt trap was set in stages. In 1971, the dollar went off the gold standard internationally. Currencies were unpegged from gold and allowed to "float" in currency markets, competing with other currencies, making them vulnerable to speculation and manipulation.

In 1973, a secret agreement was entered into in which the OPEC countries would sell oil only in dollars, and the price of oil would be dramatically increased. By 1974, oil prices had increased by 400% from 1971 levels. Countries lacking oil had to borrow dollars from U.S. banks.


In 1981, the Fed funds rate was raised to 20%. At 20% compound interest, debt doubles in under four years. As a result, most of the world became crippled by debt. By 2001, developing nations had repaid the principal originally owed on their debts six times over; but their total debt had quadrupled because of interest payments.


When debtor nations could not pay the banks, the International Monetary Fund stepped in with loans -- with strings attached. The debtors had to agree to "austerity measures," including:

cutting social services
privatizing banks and public utilities
opening markets to foreign investors
letting currencies "float."


Today, austerity measures are being imposed not just in developing countries but in the European Union and on U.S. States.

 

At the time that the USD was backed by gold so too were the other world currencies.
any truly fiat currency would have had no value at the time.

 

Printing trillions of Currency Unit X would cause massive inflation in that currency and create major disruptions in trade and commerce. You'd be screwing over all the citizens of the country that did it because all the pieces of paper with "Currency Unit X" written on them would start working their way back towards their home country to be exchanged for goods and services. If an apple cost CUX1 pre-inflation and some foreigner comes in with CUX10 million, she can buy up all the apples on the market and the locals will starve.

It would be a great strategy if you were ONLY interested in obtaining gold and had no other factors to consider, but the United States just said "gold doesn't matter any more" so you'd be buggering your own people to buy something which has just become largely irrelevant to the world's financial system.

 

And thats the "beauty" of it .... there is a small, tight knit, group that is ONLY interested in getting the gold... and they have no allegiance to anything or anyone .... but themselves.

 

nixon did the only thing usa could have done as the french in particular were exchanging USD for gold.....he got repaid by watergate...