Most people living in the United States don’t know how their monetary system works. For example many are not aware that the Federal Reserve is not part of the federal government or that the U.S. monetary system is a fiat currency system. A fiat currency is declared to be legal tender, but it is not backed by a physical commodity such as gold or silver. Our currency was once backed by gold but that is no longer the case. Unrestrained money printing has our government over 21 trillion dollars in debt with no plan to repay it. Of each dollar spent by the federal government over 40 cents of it is borrowed. With the U.S. dollar being the world’s reserve currency and used as a petro dollar it has allow our government to mass enormous debt without feeling the true effect of this expansion of the money supply. There have been many developments that raise doubts as to the ability of the U.S. to maintain the dollar as the world’s reserve currency and Petro dollar. Every American should take the time to learn how our monetary and banking system works. Then you can understand for yourself the financial crises we are facing as a nation. Don’t believe what you hear in the media that everything is wonderful. Gain an understanding of how our system works and form your own opinion. The links below lead to what we have found to be some of the best educational videos you can watch to educate yourself.
Mike Maloney – The Hidden Secrets of Money Episodes
The Exchange Stabilization Fund