Topics
-What really is fiat currency?
-Hear how bad money chases out the good money
-The Greece situation and the contagion could be huge, understand why and how
-Does Andy see Greece leaving the E.U.?
-The USG is coming after retirement funds next
-The dollar may have a long way to go before it turns ugly South
-Mom going into a nursing home and Andy gives some critical information for actions to take now
-The Exchange Stabilization Fund – We dig into this bad boy and it is quite fun
-Andy tells the story of how the “Give us all your gold” thing happened in 1934
-For you collectors and would be collectors we had lots of coin questions that Andy answered
-How the TARP was financed and who owes the money given to the banks
-Private property, private companies vs. public and smart meters
-What does physical possession mean and the challenges facing that move
-China continues to by gold and U.S. assets
-Where do you buy a T Bill, what kind and for how long?
-A listener wants to know if Andy subscribes to Jim Willie’s thinking with regards to retirement plans.
-What is the Exchange Stabilization Fund (ESF) and how does it play a role with the Federal Reserve Bank?
-Andrew advocates physical possession of coins, but what should those of us do who live in small apartments or are in questionable neighborhoods? Andrew talks safe storage of coins in the home; Mickey, a listener, writes in suggesting a book called “How to Hide Anything”, which can be downloaded
-Andy recommends $20 St. Gauden gold pieces. What years and grades would he recommend, raw or certified?
-Comment and Question: I just finished reading “the Currency Wars” written in 2011 and the “Death of Money” written in 2014 by James Rickards where he basically says that the Fed and other Central bankers have run out of ammo and in the process destroying the dollar and other currencies and the only clean balance sheet is the IMF with their SDR’s. The EU, US, and Russia are waiting for China to get its gold stash to meet the ratio of 2.7 of Gold to GDP and have a seat at the IMF table.
When the next financial crisis comes that will be the end of the dollar as dominant reserve currency, with the concurrence of the US.?
and a ton of emails were answered
The Real World of Money Archive
Andy's site
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Fiat currency doesn't mean money not backed up by precious metals, as G. Edward Griffin and gold and silver coin hawkers would have us believe.
ReplyDeleteIt refers to government-issued currency, and can include paper notes as well as gold and silver coins.
The "fiat currency is gold and silver" meme was put out there as a controlled opposition talking point to make gold (mostly controlled by the banksters and their current governments) seem superior to paper notes, but if that were the case, Germany wouldn't have had such an economic miracle from 1933-1939 if paper notes were "worthless," as the talking point goes, and over half of the United States Notes (Lincoln Greenbacks) are still out there as collector items, worth more now than Federal Reserve Notes were in 1913.
http://fauxcapitalist.com/2010/09/14/a-fiat-currency-that-lasted-more-than-a-few-hundred-years/
http://fauxcapitalist.com/2011/10/25/three-prominent-hard-money-advocates-endorse-the-temporary-issuance-of-fiat-money/
http://fauxcapitalist.com/2013/11/01/the-surprising-total-of-outstanding-united-states-notes-greenbacks-issued-during-the-civil-war/