Fiat Currency

Gold has intrinsic value because you can actually do stuff with it, as well as being compact and easy to trade as money. But why do we have paper money? Is it better?

Well back in the 70's under Nixon we were having trouble paying off our debts. So we started monetizing the debt and to do that we went off of the gold standard and into paper money. The official story was that we didn't want to be reliant on the gold standard if another country were to have a gold strike and became richer than us. Also the gov told us how the dollar is stable but gold prices fluctuate. But what they were really doing was just paying off debt by printing more money, and saying that the dollar was good. But now it's going the way og the german franc at the end of the nazi occupation, and people are starting to think that the dollar may not be as good a currency as it used to be.

It's interesting how fort knox got all the gold it has. All they did was say that it was illegal to have gold currency and now you could only have it as jewelry or collectable coins. So by "fiat"(translated: "make it so") they traded all the gold in america nad also in Europe for absolutely nothing but paper. So essentially the US gov. took all that gold essentially for free, all by just trusting them.

In the end the dollar is only worth as much as the people think it's worth. It only has concieved value and no intrinsic value like gold does. So buy gold now as a hedge against the dollar and as savings, not when you're paid for your work in dollars in the future, when they're not worth anything.

It shouldn't say on the dollar bill "In god we trust", it should be "In fiat we trust." This is an idea to write on dollar bills for any anarchists out there that want to nudge the dollar over the edge.