Let me get this straight. Money has always baffled me. Our currency is called fiat money. Fiat money is regulated by the government through the Federal Reserve. Fiat money has nothing to back it but debt.
Our money used to be backed by gold and silver. That changed with Nixon aka the Nixon Shock, back in 1971. This enabled the fed to print money, and lend it with interest to smaller banks. Thus stimulating “growth,” and making money for the Federal Reserve (remember, the Federal Reserve is a private, for profit bank, and is NOT part of our government. They just control our money in secrecy).
But wait a minute? How do you print money you do not have, and then lend it with interest and make money from nothing? How does that make an economy grow? It doesn’t! It’s a house of cards, ready to collapse on itself. This craziness has lead to the worst recession in our history. It is worse than the media reports. The real unemployment rate is closer to 22 percent. Our homes have lost value, our towns are bankrupt, and more and more people are joining the unemployed.
By Jennifer Shafer Wood, Patch Poster | | Updated