The value of fiat currency couldn’t be made any clearer. The Fed burns 5,000 tons of fiat every year. It’s only worth something if you believe it is worth something. Gold cannot be burned and destroyed. It is worth something because it is rare, cannot be reproduced with a printing press, has been considered a form of wealth for centuries, and has always been worth something. Every fiat paper currency ever issued by corrupt government politicians and greedy bankers has ultimately reached its true intrinsic value – ZERO. Let is burn!!!
How To Stay Warm In Philadelphia – Burn Dollar Bills
Submitted by Tyler Durden on 12/28/2014 20:45 -0500
Apparently taking a page out of China’s book, Factually reports the Philadelphia Federal Reserve office (apparently aware of the worthlessness of their fiat currency) sends old currency to local power plants, where it’s burned for electricity. As WSJ reports, The Fed destroys more than 5,000 tons of U.S. currency a year – most of it once went to landfills, but the central bank has pushed for years to go green with all that green. It appears we have come a long way from the Federal Reserve Bank of Richmond’s 1953 annual report when it boasted it had “money to burn.”
From 1953…
Philadelphia is literally burning money to keep the lights on. And that’s a good thing! They used to just shred it and send it to landfills, letting all that energy go to waste.
…
“Rather than just sitting in a landfill, it’s producing electricity for residents in the Delaware Valley, here in our district,” an official at the Federal Reserve Bank of Philadelphia proudly told the Wall Street Journal.
Other municipalities around the country have similar currency incineration programs, including Los Angeles County, where they burn as much as 500 tons of money per year. I suppose the image of burning money is a good reminder to turn the lights off when you leave a room. Your dollar bills are literally going up in smoke.
This is why it has to be forced down our throats by legal statute.
It cannot compete with gold or silver in a free market.
What a shame we have lost all our freedoms to the banksters and their puppets who rule over us.
The FED makes 3cents on every dollar printed so I’m sure the sound of the presses running is music to their evil little ears. Just a reminder, the FED owners get 6% annually and that does not include reserves. Who would not like a sweet deal like that?
Legal tender laws are far easier to enforce on us serfs, international dissenters will require militant coercion.
I must be missing something here. This has been SOP since paper came into existence. What else are they supposed to do with worn out and damaged currency? The worn out notes are replaced.
It’s interesting in the 1953 article that the FED only destroyed United States Bank Notes and Silver Certificates and Federal Reserve Notes were destroyed by the US Treasury. Apart from those differences, the article(s) simply point out a normal everyday operation implemented to handle wear and tear. What is it I’m missing?
@ Golden Oxen
or is that Gored Ox?
Re: “This is why it has to be forced down our throats by legal statute.”
How is that “Ignorance of the Law is no excuse” working out for you?
Read Much?
Try: http://www.treasury.gov/resource-center/faqs/Currency/Pages/legal-tender.aspx
Look FOR IT!
It’s There!
@ “There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.”
ie
Hard, Honest, Lawful Money
OR
counterfeited fiat paper IOU a “dollar” (but good luck collecting!) and clad lookalike slugs
Hmm. Decisions, decisions. DOH!
Oh, would you look at the time!
Only two trading days left in 2014 to convert those counterfeited fiat phederal reserve IOUs into actual U.S. Dollars of Lawful Money before incurring that:
Grab your ankles and grimace “tax” liability that Uncle Fed is going to take out on your a** next April.
For those who think that education is too expensive, try ignorance!
Cheers, S. Rex