How much more time before the USD reaches its intrinsic value and the bankers running this Ponzi scheme are hung from lampposts?
“Paper money eventually returns to its intrinsic value – zero.” – Voltaire
“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.” – Lord Acton
Maybe some Congress critter should present the chart below to Bubbles Yellen today during her testimony when she declares that inflation is well contained.
Guest Post by Anthony B. Sanders at Confounded Interest
US Dollar Purchasing Power Is Down 96%, British Pound Is Down 99% Since Creation of Federal Reserve System
The Federal Reserve System in the United States was created by Congress in 1913 and signed into law by President Woodrow Wilson. Since its creation, the purchasing power of the US Dollar has declined 96%.
But according to a House of Commons Library Report entitled “Inflation: the value of the pound, 1750-2011,” RESEARCH PAPER 12/31 29 May, 2012, RP12-31 (1), the decline in purchasing power of the British Pound since 1913 equals 99%!
Note that the shape of the decline of purchasing power following the creation of the Federal Reserve System in the US are virtually identical.
With the exception of the fact that the British Pound purchasing power actually was crushed even worse than the US Dollar.
Neither the US or the UK are up to Zimbabwe’s destruction of their currency, but The Fed has only been working on it for 100 years. Think of what they can do over another 100 years!!
I would love to see UKIP’s Nigel Farage debate the merits of central bank policies in the European Parliament! Here is Farage discussion the merits of The Euro.
Grandma Yellen is even worse than bubbles Bernanke, if that’s possible. She’s a flat-out dupe, calling our snowballing inflation “noise”, I guess it is noise when your a Jewish bankster. Inflation is wiping out the American dream for most people. Taxes are wiping out what’s left, stealing money from productive people at gunpoint, to fund the $1 trillion FSA.
The rest of the world is pissing on the dollar. Once we lose reserve status, we’re done. The petrodollar is all but finished. Obama and NSA, spying, tyranny, fascism are destroying relations abroad, further crushing the dollar, but the greedy banksters themselves, the oligarchs, rigged Wall Street, the Fed and their bubbles and debasement. Incredible mess. Let’s hope there’s enough rope to hang the fucks.
Anti-Dollar Alliance Prepares Launch Of BRICS Bank
Submitted by Tyler Durden on 07/14/2014
Three months ago we discussed in detail the growing anti-dollar hegemony alliances that were building across the BRICS countries (Brazil, Russia, India, China and South Africa). Their efforts at the time, to create a structure that would serve as an alternative to the IMF and the World Bank (which are dominated by the U.S. and the EU), appear to be nearing completion. As AP reports, Brazil’s President Dilma Rousseff and Russia’s Vladimir Putin have discussed the creation of a development bank to promote growth across the BRICS and hope to produce an agreement on the proposed institution at this week’s BRICS Summit. As Rousseff concluded (rather ominously), the five countries “are among the largest in the world and cannot content themselves in the middle of the 21st century with any kind of dependency.”
“How much more time before the USD reaches its intrinsic value and the bankers running this Ponzi scheme are hung from lampposts?”
I don’t think we will see any banker hung, a bunch may continue to do themselves in, which will be a nice distraction but it won’t help a damn thing.
We’ve become so conditioned to rely on government for just about everything, people who do for themselves (HSF) are extremely rare and looked upon by the majority as just fucking strange.
No, people will totally ignore the bankers and the politicians and instead demand the government to do something, do anything to save them.
They will agree to give up their guns, their excess food, their souls for government salvation, they will turn in relatives and neighbors for a months worth of cheese and bread.
If you are a prepper keep your mouth shut and go stand in the food lines like everybody else.
Back in the 70’s when the dollar came very close to collapsing other nations bought our debt because there was no currency substitute, they had to save the dollar even though by doing so solved nothing long term.
Between China, Russia, their trade deals with other nations and the IMF there are more than enough substitutions just waiting for the final gasp, and then the US$ is done.
We had a good run, but the party for the dollar is just about over, then the money grab begins as the government will not go quietly or without a fight.
The gov will have every member of the FSA, cops, teachers, firefighters, military, local, state and federal employees, all demanding their promise of pay and pension is kept.
Doesn’t leave much for the rest of us does it?
Britain 99%
Murika 96%
Come on Ol Yeller, you can do better, we want to be numero uno!!
I am suprised we have even 4% to go. John
almost.there.
You guys shouldn’t be so jolly about the destruction of the dollar. Most of you will end up in poverty and the nation in WW3 .
Oh bb, I doubt any of my capadres is happy about this shit.
Discussing reality isn’t supporting, it is trying to warn people to protect themselves.
You sound just like so many I know. I feel sorry for you.
“Discussing reality isn’t supporting, it is trying to warn people to protect themselves.”
Yup.