Have you heard or seen the term “fiat money”?
Wikipedia explains that the term “fiat money” derives from the Latin fiat (“let it be done”, “it shall be”), which hints at the arbitrary nature of the money. In contrast to “representative money” that is backed by gold or silver, and which entails the legal requirement that the bank of issue redeem it in fixed weights of gold or silver, fiat money is money without intrinsic value, but is simply money declared by a government to be legal tender, which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard.
The United States once had representative money. But the Nixon Shock of 1971 ended the direct convertibility of the U. S. dollar to gold. Since then, all reserve currencies have been fiat currencies, including the U.S. dollar and the Euro.
Nadir of Christian Light Ministry puts it even more bluntly: “The truth is that private international banks owned by the same people under different names create what we call ‘money’. This money is something created out of thin air and interest is charged upon having it. [...] It is make believe money. In the United States, this private banking cartel is called the Federal Reserve Bank.”
Fort Knox is a United States Army post in Kentucky south of Louisville and north of Elizabethtown.
The Department of the Treasury has maintained the United States Bullion Depository in a fortified vault building at Gold Vault Rd. and Bullion Blvd. on the army post since 1937. Inside the building supposedly is a large portion of United States official gold reserves — 5,046.3 tons of gold bullion (147.2 million oz. troy), roughly 3% of all the gold ever refined throughout human history – and occasionally other precious items belonging or entrusted to the federal government.
Even so, the bullion depository in Fort Knox is second in the United States to the Federal Reserve Bank of New York’s underground vault in Manhattan, which holds 7,716 tons of gold bullion (225.1 million oz. troy), some of it in trust for foreign nations, central banks and official international organizations.
But that’s what we are told.
How do we know there’s actually gold in Fort Knox or in the Manhattan underground vault? Did you know that the last audit of Fort Knox occurred 60 YEARS AGO in 1953?
Below is a fascinating Wall Street Journal online article on just this matter. Tell your Congress critters to audit Fort Knox!
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