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What is Money? Who Controls Money?
John Gideon Hartnett

Gold is money! Silver is money! Everything else is credit!

J. P. Morgan famously said this in his testimony before Congress in 1912: “Gold is money. Everything else is credit.”

J. P. Morgan was the founder of JPMorgan Chase & Co., an American multinational financial services company headquartered in New York City. It is the largest bank in the United States and the world’s largest bank by market capitalization as of 2023.

In 1973, Henry Kissinger is purported to have said (though it is disputed): “Who controls the food supply controls the people; who controls the energy can control whole continents; who controls the money can control the world.”

Whether he said it or not, it is true. However, he would have to have been talking about credit.

Since the United States closed the gold window in 1971, the dollar has had less and less gold backing it as the US Federal Reserve banksters have created more and more fiat currency.

According to the US Treasury-Owned Gold dataset, as of November 30, 2023, 261,498,926.24 troy ounces of gold is held in bullion and coins at various vaults including Fort Knox, West Point, Denver, and the New York Fed.  The price of gold was last officially set at $42.2222/troy oz. in 1973. It has not changed, not even by a small amount. I calculated this number from the listed total US dollar value in all vaults divided by the total listed weight. The result actually has seven significant figures of precision (i.e., $42.2222000/troy oz.).

Could this number be because of the occultic Kabbalah practices of the central banking cabal? Symbolically reading the gold price $42.2222 as four twos followed by four more twos, it becomes $2222.2222. The occult loves these repeating numbers, especially factors of eleven. Of course, this is my speculation.

Anyway, from the published data, we can add up all the holdings in the various vaults to get the total value of US Treasury holdings as $11,041,059,957.90. That is billions not trillions.

When was the last time the gold was audited? Who really knows how much gold is still in Fort Knox and the other vaults? Based on official figures, it amounts to little more than 2 percent of the amount needed to back the $20 trillion dollars in the current M2 money supply at the current price of gold:

M2 is the U.S. Federal Reserve’s estimate of the total money supply including all of the cash people have on hand plus all of the money deposited in checking accounts, savings accounts, and other short-term saving vehicles such as certificates of deposit (CDs). Retirement account balances and time deposits above $100,000 are omitted from M2.

See Figure 1 for the accumulation of M2 money supply according to the US Fed’s own data. I plotted this from FRED data. On November 1, 2023, the money supply reached $20.767 trillion. Therefore, if you revalue all the US Treasury gold to this amount, you would get a gold price of $79,415.24/troy oz. That is a factor of thirty-nine times the current price of $2,030/troy oz.

Figure 1: Plot of the M2 money supply since 1959

Source: Data from Board of Governors of the Federal Reserve System, “M2 (M2SL),” H.6 Money Stock Measures, FRED, Federal Reserve Bank of St. Louis, last updated November 1, 2023. M2 was exponentially growing according to curve (1) until the crazy credit creation of the 2020 pandemic when about $3 trillion was pumped into the banks and handed out to many as free helicopter “money.” Curve (2), a five-order polynomial, was used to model the M2 money supply between 2020 and 2024. Sepia-colored strips indicate recessions.

Credit unbacked by gold is plain theft! There is no other word for it. Flashing electronic numbers on your computer screen are not money. Paper (or plastic) bank notes are not money! Bitcoin is not money! Those are all dollar derivatives. IOUs! They do have a little gold backing; otherwise, you could not buy any gold or silver with them. However, all dollar derivatives are fiat currencies, and they will eventually go to their intrinsic value, which is zero. When that happens, not if but when, they will not buy anything. Since 1959, the US dollar has already lost 98 percent of its value.

It is worth noting that Henry Kissinger was a founding member of the Club of Rome, which had as one of its goals to control the world population and its resources. He was also the guy who got the Arab Emirates and Saudis to only sell oil in US dollars; hence, he oversaw the creation of the petrodollar. The latter has aided in this control.

It follows that, in the current world system, petroleum is also money. However, cracks are starting to form in that system as the BRICS nations (Brazil, Russia, India, China, South Africa, and now Saudi Arabia, among other countries) have created an alternative trading bloc, and the Saudis are taking other currencies for their oil. However, unless the BRICS nations use real money—gold—to exchange goods and services in their trade, they will just be trading another fiat currency for the US dollar. All fiat currencies will go to zero eventually because they always have. When they do, the theft is exposed to all those holding the useless currency.

By that time though, the banksters have gotten what they wanted. They have sucked the wealth (gold, oil, land, and other real commodities) out of the nations using their banking cartels and the military of the US and other Western countries.

In line with Kissinger’s 1973 statement, the same banksters are now coming for your food supply and your energy supply. Man-made global warming is being used as the excuse to shut down agriculture and so-called fossil-fuel electric power generation, which is the backbone of our modern industrial world. The megabillionaire corporate and bank owners already control much of these, but they want it all. As a result, “climate change” is being used now to take everything else they haven’t taken though the debasement of the currency.

Think about that! For six thousand years, gold and silver was money! Since 1971, the globalist bankers have moved the population off honest moneys onto fiat bank notes, then electronic digits, and now they are going “full monty” with central bank digital currencies backed by nothing of any substance.

There is nothing new under the sun. All fiat currencies of whatever kind will collapse! The cycle of life tells us that the wicked will be destroyed eventually as the edifice of their fiat money system collapses and we have a global reset. It might be their planned Great Reset, but even that will only be for a short time because even central bank digital currencies are just another fiat currency. 





John Gideon Hartnett is an Australian physicist, cosmologist, and Christian with a biblical creationist worldview. He has a PhD with distinction in physics from the University of Western Australia (UWA). During his research career he worked at UWA and the University of Adelaide and published more than two hundred papers in scientific leading journals, in book chapters, and in conference proceedings. He was a foundering director of an Australian startup now commercializing his research on ultrastable cryogenic “clocks.” He has lectured around the world in churches and at conferences and written extensively on biblical creation, mostly in terms of astrophysics and cosmology. He blogs at

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