Guest Post by Simon Black
In the early 1530s, a Spanish conquistador named Diego de Ordaz was exploring modern-day Venezuela when he first heard rumors of a nearby City of Gold.
Ordaz thought he was about to hit the jackpot. And he wasted no time ordering expeditions of the area to find this city– what eventually became known as El Dorado.
The mission failed, and most of Ordaz’s men died. But one survivor, a crewman named Juan Martinez, claimed that he had been captured and held prisoner for 10 years in El Dorado.
Martinez told sensational tales about the city’s golden structures adorned with precious stones, and even said that the local king bathed in gold dust every morning.
Martinez also said that the people of El Dorado were all so rich with gold that no one really had to work. They had constant festivals and would often feast for seven days straight.
Europeans were instantly hooked. And more expeditions were immediately launched.
The conquistador Gonzalo Pizarro (half brother to Francisco Pizarro) was so fanatical about El Dorado’s existence that he marched thousands of people through the jungles of South America for eighteen months looking for the city.
Pizarro came up empty-handed, and most of his men died.
And yet there were still countless expeditions launched over the next several decades in search of the lost City of Gold.
Everyone desperately wanted to believe in this fairy tale– that there was a place overflowing with money where everyone could live for free and spend their lives feasting and drinking.
Maybe this desire is hard coded in our DNA because there still seem to be people who believe in it.
Today’s version of El Dorado is the printing press. Politicians seem to have a fanatical belief that they can conjure paper money out of thin air and pay for everything.
For instance, #RentStrike2020 is a nationwide movement in the Land of the Free to simply cancel rent.
People want months of rent and mortgage payments to be forgiven. Poof, disappeared.
And the Bolsheviks have answered their call.
Congress is now considering the Rent and Mortgage Cancellation Act which would cancel all rent and mortgage payments for the duration of the pandemic, and possibly beyond for up to a year.
And the law would be retroactive, so they’d go back in time to March 13 to cancel rent.
The government would then set up a fund for landlords and mortgage holders “allowing them to recoup their losses, so long as they agree to abide by a set of fair renting and lending practices for a period of five years.”
Some of those conditions include not raising the rent for five years, and not denying renters based on credit history, or criminal record.
This is insane. First the government will tell landlords that the contracts they signed are void. And then, if someone wants to rent your property who has a history of not paying rent, you’re not allowed to reject them.
But as long as you bend the knee to DC, they’ll print the money to pay you.
Another bill proposes to pay $2,000 per month, for the next year, to every American over the age of 16 who makes less than $130,000 per year.
This includes high school students, and people who were previously not working.
Naturally the bill doesn’t mention costs. Why bother with such a trivial detail?
But based on the number of people who qualify, the cost could easily top $4 trillion.
That’s more than the entire federal tax revenue last year! They would literally spend every penny they collected in taxes last year just for that one program.
But no one really cares anymore. There are no rules, and both the government and central bank have decided they’ll do whatever it takes during this pandemic.
What’s really remarkable is that they seem to believe all this deficit spending and money printing will produce favorable results.
If you could simply print money to become a prosperous nation, then Zimbabwe would be the wealthiest country in the world.
But that’s not how it works. Creating more money is not the same as creating value.
Value creation is difficult. It requires talented people to work hard work and produce; it cannot be conjured out of thin air by a bureaucrat.
Right now the economy is shrinking. Millions of people have lost their jobs, which means there’s a whole lot less value being created.
Yet simultaneously they’re printing more money than ever.
You don’t have to have a PhD in economics to understand the mismatch here.
But then again, politicians aren’t exactly known for their grasp of finance.
For example– Queen Bolshevik, Alexandria Ocasio-Cortez, gleefully celebrated oil’s MINUS $40 price earlier this week, and predicted that the crash would prompt people to switch over to renewable energy sources.
What is this person thinking?? Ultra-cheap oil will compel people to use MORE oil, not less. Duh.
If anything she should hope for a $150 oil price and record high profits for oil companies. Renewable energy would be MUCH cheaper at that point, and people would have a big incentive to switch.
AOC clearly has no understanding of finance or economics… which is ironic because she’s one of the biggest fanatics of the printing press myth.
No one has to work. No one has to pay their rent. They government is just going to print money and send everyone a check every month.
It took nearly 500 years, but America has finally found the lost city of El Dorado. It’s called the Federal Reserve.
And just like El Dorado, its wealth is entirely mythical.
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
I’m a bit confused about something and maybe the TBP community can help. As part of this CARES act, my understanding is that the Treasury and Federal Reserve have “merged”. Not having the time to read all thousand whatever pages of the CARES act, does anyone know if this was merely a merging of operations of the two entities and the Fed is still holding the bag on all those junk bonds and treasuries, or did the US tax payer just get stuck as the bag holder and is now liable for what used to be the Fed balance sheet? Very little clarity in this.
If the former, then the Road to Roota theory could have just gone into play, as I see US has not agreed to issuance of SDRs by IMF. That appears to paint Fed into an insolvency corner it cannot get out of. If the latter, then hello Wiemar America and go long wheel barrows.
Plus, Petro Dollar is officially toast and this sets in play a whole new set of unknown unknowns with regards to world reserve currency. Any comments here?
The Fed’s balance sheet has no relevance. It doesn’t matter if the Fed, Treasury, or anyone else is responsible for all the currency produced. It’s the holders of that currency that are going to take it in the shorts.
Once hyperinflation hits and dollars are used equivalent to toilet paper is when people around the world will realize that they’ve been had. Pointing back at some artificial entity, be it the Fed, Treasury or even the US population won’t matter a bit. The value will be gone and you can only hang so many bankers / economists / politicians.
The theft occurred in 1913/14 and is just now in the process of being discovered.
“What difference does it make?” –Killary
ICE
It’s more like the Fed gobbled up the Treasury and the entire country. The bad news is that it was designed to sheild the owners of the Fed from any liability, that goes to the citizens and always has. We are liable for every fiat dollar out there and will be charged for it when it collapses. There is in reality, no such thing as defaulting on debt. Someone will pay for that debt, the only question is who. If we are the payee of last resort we will pay with our great grandchildren or with death and the brown hordes will be brought in to take possession of the land and its resources above and below ground. Germany only seemed to escape the Wiemar debt incurred by WWI. They paid every last farthing in WWII and for years afterward. We could force a draw if we could seize the entire military and communications infastructure but from the look of our manhood so far, we are going to take the Soy Boy route and bow to accept our collar while thanking master for the priviledge of being his slave boy and girl. All the wishful thinking won’t change that. Look what happened to Egypt during the 7 fat and lean years. The final year they demanded that Pharoh take possession of them as slaves in exchange for a morsel of food. The dollar and the country are being destroyed to make way for a temporary SDR, then a world currency.
What is never advertised is that all but two countries have a Rothchild owned central bank. These banks have very few owners and own all the worlds banks by proxy or in deed. We aren’t going to be fortunate enough to become the Wiemar. We will be more like 1923 Russia.
Granite rock solid Flea…exposing and defying the pretenders has its own rewards.
Keep spitting on and polishing those dum-dums.
Both the words and the bullets.
They both have their time.
Mark.
How’s it coming with the house building? It’s nice that God blessed you with your family moving in. It’s the historic and Godly way. We remember it from childhood but it was removed in the 60’s. I always thought it was cruel to separate gandparents from their grandchildren.
I’m sure this will all work. After all, shouldn’t the U.S. have an Utopia like the rest of the world?
Pay no attention to the (((Man)) behind the curtain….
Well, To Dorothy and everyone else, the American public is finally beginning to understand what the pot of water that CONgress put us into in 1913 with the Federal Reserve Act, and how the water’s heat has been turned up over the last 106 years.
The next ten years are going to be getting even hotter,and more destructive for our economy and country.
And we’re going to find out that CONgress is, right now, with the “HoloCough”, putting a lid over the pot, ensuring we won’t get out.
This “coronocrisis” won’t be the last emergency, it’s just the start of what the (((Interagency))) has planned for US .
Please start stacking food, seeds, guns, bullets, body armor, water and fallback locations.
You’ll be glad to you did.
Good Luck, we’re going to need it.
Sounds like hoarding 1 dollar bills now, for future toilet paper use maybe a viable trade item, post prosperity.
Well its not because its not very absorbent nor is it soft. I think a sheet of TP will be much more valuable.
I think the premise that the politicians and Federal Reserve are just ignorant and believe this will actually work is very flawed. First of all you can really lump the Fed, Corporations, Banks, and the gov as one. These people are greatly benefiting because they are getting the lions share of the currency pie. The plebs will get the crumbs. Many of the plebs are foolish enough to think ‘free’ shit from the ‘one’ group is great and will accept increasingly totalitarian rule. In the end you will have a 2 tier society. For the ‘one’ group this is not about how much currency they will have. They print that shit faster than a TP factory can make TP. It’s about power and control of their plebs.
“And just like El Dorado, its wealth is entirely mythical.”
Not if your first in line.
Many are going to be confused at this line because they only know one boogeyman, Hitler. Then, should they investigate what a Bolshevik is, their head will explode.