Send this article to a friend:

October
22
2022

Fake Money Is Backed by Fake Statistics
Jon Forrest Little

We live in times where The Joe Rogan Experience is more popular than CNN. This says a lot.

We have one man and a microphone kicking the crap out of a media conglomerate. People trust a dude who’s winging it more than scripted and slick newsrooms.

Let's talk about trust.

Trust in government officials and the products they promote is collapsing. One of their worst products is the dishonest paper version of the dollar.

Historically speaking, the real dollar is a certain weight in silver, convertible to a certain weight in gold.

But the Federal Reserve note “dollar” is ONLY backed by the U.S. government's full “faith and credit.” It’s a debt instrument which, in effect, is everyone else's liability.

Through sleight of hand, 20th century central bankers first passed their “dollar” notes into circulation… and then pulled the sound money out. The final act was President Richard Nixon’s “temporary suspension” of gold convertibility in 1971.

To keep today’s debt-based currency scheme alive and running, many dishonest acts have followed.

This is why we use terms like “honest money.” It’s precisely because unbacked currencies, by design, are fraudulent.

Some financial terms are misrepresented by mainstream media that pulls their news copy from Washington-sourced press releases.

A Growing Economy Does Not Necessarily Equate to Prosperity

People grow up believing that the U.S. thrives because its gross domestic product (GDP) is higher than in other nations. The components of the GDP are consumption, investment, government spending, exports, and imports.

When federal projects like a war in Afghanistan cost five times more than Vietnam, all those salaries and weapons get counted in the GDP. (Remember what happened in Afghanistan? After 20 years, we replaced the Taliban with the Taliban.)

If we have a federal project to build 20 pyramids and the next president orders them to be removed, all the effort in constructing and destroying those pyramids count in the GDP.

That’s called “make work.”

It sounds ludicrous, but we have a horde of conflicting, confusing, and overlapping bureaucracies whose activities are largely unproductive.

Remember hearing how the Orwellian-named “Inflation Reduction Act” funds the hiring of 87,000 more IRS agents? Their salaries are part of the GDP. But does it make us more prosperous?

And when GDP growth isn’t adjusted to account the true rate of inflation, that’s not real growth either.

Meanwhile, the recent attempt to redefine the meaning of the word “recession” is another dishonest act.

The term “inflation,” however, is especially misunderstood because people are led to believe that it's "rising prices" instead of an intentional government policy of debasement.

Once the government steps in to manage the economy through currency manipulation (money supply expansion, bailouts, below-market interest rates), big trouble follows.

While trying to put energy producers out of business, President Biden has been draining the Strategic Petroleum Reserve to put a lid on oil prices before the midterm elections.

But what happens when this draw-down ends and can no longer help ease the public’s pain? Oil prices will soar further. And the cost of oil is the predominant variable in the price of nearly everything.

Rising Prices Are Merely Symptoms of Inflation

The way the government measures the effects of inflation is flawed to begin with. The basket of goods that go into the government’s CPI statistic is cherry-picked.

My parents' "basket of goods" in their assisted living facility is nowhere near the same "basket of goods" purchased by young adults (who are often now living together in unaffordable apartments.)

But no matter it’s measured, no one can deny costs are soaring any longer.

Our government abandoned the gold standard because a constrained monetary system would create pressure for balanced budgets. It’s more politically convenient to look to the Fed than to cut federal spending or raise taxes.

But when the Fed creates new currency units and adds them to the trillions already in circulation, it steals value from the existing pool. The politically connected are the first ones at the trough. Savers and consumers aren’t invited to partake... and instead foot the bill.

Suppose you ask random people what causes inflation. Most would blame the grocery store, restaurant owner, energy companies, corporate CEOs, or a foreign scapegoat (“Putin's price hikes”).

Domestic media treat inflation like it’s some mysterious market-driven economic force, not an intentional act by central bankers to transfer wealth.

The truth is, as Milton Friedman once said:

"Inflation is always and everywhere a monetary phenomenon, in the sense that it cannot occur without a more rapid increase in the quantity of money than in output."

I recently spoke with a pizza restaurant owner in Pittsburgh, a mom in San Diego, and a gas station operator in New Mexico; all their stories were eerily similar. They are suffering from intensifying inflation.

The sad thing is they are kept in darkness as to how inflation became the ferocious beast that now wreaks havoc in their daily lives.

A return to sound money is the path out of the darkness.

Jon Forrest Little studied at the University of New Mexico with an emphasis in history, Latin American foreign policy and archaeology. He studied processual archaeology under distinguished anthropologist Lewis Binford. Jon also attended Georgetown University's Institute for Comparative Political and Economic Systems. Jon along with economic anthropologist David Graeber have drawn distinctive inferences about the first minted coins in Lydia. Their studies have covered "The Axial Age's" Delos, the mines of Laurion and Peloppenisan war eras. Graeber would write the book "Debt, the First 5,000 years" and Little formulated Precious Metals Warfare Theory. Precious Metals Warfare Theory becomes a new perspective on state issued coins, soldier salaries, ancient trade routes and the first evidence of silver monetized.

Little began his professional career working for 21 years in the clay mining industry. He worked with companies drawing from shale mines surrounding Mount Cristo Rey in El Paso. These clay deposits were unique because two manufacturing plants from two separate countries (north and south of the US-Mexican border,) shared the clay resources. The same clay deposits were used by Mexican and US brick manufacturers. This experience sharpened Jon's knowledge of international business and labor relations. Jon also worked with dozens of clay mines near Pueblo and El Dorado Colorado.

While working in the clay fired brick industry Jon worked with Robert AM Stern architects to set a CU Boulder campus standard for a brick blend to replace the locally quarried sandstone. The sandstone was selected by Charles Z Klauder in the 1930s. Klauder was inspired by the hillsides of Tuscany and designed CU Boulder in a Tuscan theme with clay fired roof tiles, sandstone walls, copper gutters and brick.  Jon worked with architects, masons and contractors in the field of value engineering.  His work with architects and contractors have saved CU Boulder building projects millions of dollars.  The  "Artisanal" blend Jon created was half the cost of sandstone installation.

Jon currently consults with polymer dispersed liquid crystal glass manufacturers. PDLC glass is also called switch glass because the glass switches from opaque to transparent on demand.  The smart glass technology uses silver for eclectro-chromatic conductivity. Moreover, they are powered via copper busbars.  Recently Jon has been working with Chinese pdlc manufacturers and he is involved in importing raw materials and managing supply chain logistics.

Jon's recent academic and writing pursuit is the ongoing study of his Precious Metals Warfare Theory. The thesis is that the world's first silver coins (originating from Lydia, 610 - 560 BC) were not coins established to replace barter but to pay soldiers.

 

 goldseek.com