The Death of Paper Money
By Vigilant | July 26th, 2010 | Category: Latest News | 5 commentsEbay is offering a well-thumbed volume of “Dying of Money: Lessons of the Great German and American Inflations” at a starting bid of $699 (shipping free.. thanks a lot).
The crucial passage comes in Chapter 17 entitled “Velocity”. Each big inflation — whether the early 1920s in Germany, or the Korean and Vietnam wars in the US — starts with a passive expansion of the quantity money. This sits inert for a surprisingly long time. Asset prices may go up, but latent price inflation is disguised. The effect is much like lighter fuel on a camp fire before the match is struck.
You might want to check out the following sources for truthful information about money, inflation and what happened in Germany:
1. GCN radio show Crash! Are you ready? — Archives available for free download
2. Book Web of Debt
3. Byron Dale — Books and youtube channel
The problem with money is not the form it takes but how it is issued into circulation. Inflation is the result of compounding interest driving up the cost of production. All money in the United States is issued into circulation as debt in which the principal is created but not the interest thus it is unpayable from the moment it is created and can only be serviced through either transferring the debt to another individual or through incurring more debt. Most money is never printed. 95+% of all money is created as checking account entries. Money is either created by issuing Treasury bonds in exchange for Federal Reserve Notes on the National level or through private debt on the individual level. All money is created as extension of credit from private commercial banks.
The idea that paper money is inherently flawed is a ruse by the financial powers to divert attention from the real problem which is how money is issued into circulation. The effect of this ruse is to herd the world towards a one world currency which is likely to be “gold backed” to make people think it is “real” money or safer. It will still be issued into circulation through debt. It will still be unpayable. It will still result in inflation and debt slavery.
The German hyperinflation was the result of money speculators and harsh war treaties that forced the money expansion. It had nothing to do with it being paper.
The ultimate goal is to do away with paper money by deleting this form of paper trail. It is too hard for IRS to catch everyone in his or her swindles and lies. Everybody’s money intake and outtake will be accounted. This means underhanded deals such as drug dealings will be a thing of the past or at least the street-drug dealers. The government will control this industry.
People will soon have to line up to get the mark in order to spend what is in their banks.
thanks for breaking that down…that helped me understand the article and JTBlue’s response. Both were great.
JTBlue is right. The problem is with the compounding interest charges. It is the root of all economic adversities, whether at the micro or macro level. In any modern economy and at any given point of time, the total debt payable is always greater than the total amount of money supply available. This is the effect of this debt-based system of compunding interest charges. It sucks money and fixed assets out of the economy over time. Hence, the economy is always in a state of perpetual debt, therefore debt slavery. Utimately, every economy in the world is heading towards bankcruptcy.
WOw.
Wehn paper currency isn’t used, we’ll have to get the mark of the best.