Remember when Banks

[MrMajestic]

Pretty sure it was offered by the Bank of Boulder, and they were various grades of Weatherby's, i.e. Mark IV's or Vanguards........That I remember, what I did TODAY.....not so much.

That's it!

 

[22BRGUY]

the us dollar was a controlled gold/silver back STABLE currency..
until kennedy took us off the silver standard.
it was not FIAT currency...never...it is still a currency with controlled volume in the market....

it may be worth less than it once was but it was never due to over printing/issuing..."fiat"...

remember a free toaster if you put 25 or 50 in a savings account ?
do you understand how they could afford it ?
banks are covered by law. rules and regs (cfr)...
there is an item called fractional banking..
i do not know the current number but at one time a bank had to keep 3% of its assets on hand in cash.
the rule was simple, someone deposits 100 you can loan or invest 97...this was real hard fixed currency.
along comes the flim flam.....
lets say some one deposits $3.....
you keep it on hand and loan 97.....of funny money/vapor currency.....
this is the single largest cause of currency failure in the usa...
while the us government CONTROLS the volume of currency in circulation, the banks have watered down its value...by large numbers..maybe not the full 97% but something over 50%..

this is not politics nor speculation nor conspiracy...its all fact....
they still do it today....

the amount of money owed on consumer credit cards exceeds the currency in circulation.

Since the inception of the Federal Reserve in 1913, the US Fiat dollar has indeed lost over 97% of it's purchasing power!

the us dollar was a controlled gold/silver back STABLE currency..
until kennedy took us off the silver standard.
it was not FIAT currency...never...it is still a currency with controlled volume in the market....

it may be worth less than it once was but it was never due to over printing/issuing..."fiat"...

remember a free toaster if you put 25 or 50 in a savings account ?
do you understand how they could afford it ?
banks are covered by law. rules and regs (cfr)...
there is an item called fractional banking..
i do not know the current number but at one time a bank had to keep 3% of its assets on hand in cash.
the rule was simple, someone deposits 100 you can loan or invest 97...this was real hard fixed currency.
along comes the flim flam.....
lets say some one deposits $3.....
you keep it on hand and loan 97.....of funny money/vapor currency.....
this is the single largest cause of currency failure in the usa...
while the us government CONTROLS the volume of currency in circulation, the banks have watered down its value...by large numbers..maybe not the full 97% but something over 50%..

this is not politics nor speculation nor conspiracy...its all fact....
they still do it today....

the amount of money owed on consumer credit cards exceeds the currency in circulation.

Since the inception of the Federal Reserve in 1913, the US Fiat dollar has indeed lost over 97% of it's purchasing power!

I believe it was Mr. Nixon in 1971 that refused to pay France in gold for it's accumulated dollars as a "temporary" measure to "secure" the value of the US dollar, but it's never returned to any precious metal or other backing other than that of the strength of the US military. The word "fiat" is defined as "by order of". meaning it has been ordered by decree to be "money". The dollar became the "petro" dollar and "world reserve currency" as of the Bretton Woods Agreement whereby the US agreed to protect militarily the oil producing nations if they agreed to only sell oil for US dollars following World War II.

 

[CJ6]

Pretty sure it was offered by the Bank of Boulder, and they were various grades of Weatherby's, i.e. Mark IV's or Vanguards........That I remember, what I did TODAY.....not so much.

That's it!

That's what I was thinking ..a Colorado and/ or a Michigan bank.

 

[JohnnyJohnson]

When people figured out they could get a better return for their money the smart money went else where.

 

[JRS]

As stated above, it was the bank of Boulder. You traded the accrued interest on the account for the Weatherby rifle ;D

 

[normmatzen]

Bretton Woods Agreement HuH?
If you believe it and think oil sells in dollars, you ought to check on the price of a barrel of oil vs the dollar and vs an ounce of gold!
You would find wild fluctuations of barrels vs dollar but no more than 15%-20% variation in barrels vs gold since the agreement!

Funny how the media doesn't discuss this?

 

[Barlow]

When I was a youngster, when you paid your electric bill at the Public Service office in town, they would replace your burned out light bulbs free. That would be in the 1950's. Barlow

 

[22BRGUY]

Bretton Woods Agreement HuH?
If you believe it and think oil sells in dollars, you ought to check on the price of a barrel of oil vs the dollar and vs an ounce of gold!
You would find wild fluctuations of barrels vs dollar but no more than 15%-20% variation in barrels vs gold since the agreement!

Funny how the media doesn't discuss this?

My point exactly. So why are we small folk told to save in dollars and work for dollars when energy/oil value is maintained in gold? (like the big guys have).