The myth of gold — the long-running delusion in history

"Faith is the death of intelligence. Once a person begins to believe in the doctrine of one sort or another and ceases to question, he ceases to think about this aspect of existence." – Robert Anton Wilson

Could someone generous to give a reasonable explanation for why everyone needs to pay over a thousand dollars per ounce of the shiny metal that actually does not have its own value?

Or, even better, how about a verifiable, scientific test evidence that gold is really worth much more than a steaming pile of dog excrement?

I guess that most reading this article will absolutely freak out, start calling me offensive words and will insist on the fact that I'm just ignorant, who have no idea about "Economics", and that the gold standard is the only possible solution to our economic troubles. No one has been able to offer standing arguments in explanation of why gold is "valuable".

And all because it is not. It must be valuable because I believe in it.

No society or culture in history has found any real, practical or fundamental applications of gold. Besides the fact that it was imposed on the erring masses, as a valuable commodity, its function was purely decorative. It was never substance crucial to the survival of the species, as I don't know, something banal, like food or water.

Gold is too soft for use as tools or war. He has no significant affirm the practice of medicine. As far as I know, he can't cure AIDS, cancer, heart disease and anything else. In the construction of its practical application is limited by the conventional decorative trim. It is not appropriate to create functional, comfortable clothes. It will not keep you warm when cold, cool when it's hot and dry when it rains. It is certainly not able to quench your thirst or satisfy your appetite. It never was useful as money. It is too heavy and bulky to carry in quantities sufficient for use in Commerce. Here and the reason primarily was created paper money is a convenience.

Gold has never had practical application to the more close to our times, when it got to the dental prosthesis. Now it is used for this purpose rarely, if ever, used.

Subsequently, it is in small quantities has been useful in electronics and to some extent continues to remain so. Not enough to make him worth more than a thousand dollars per ounce.

He has only one unique property: it does not lose its Shine and gloss for a very long time with minimal storage costs. Wow! It must possess magical, supernatural powers! Well, at least it is believed by some archaic society.

Simply put, never and in no way gold was not the key to humanity's survival. It is almost always served one purpose: the enrichment of those who hoard it and manipulate its fictitious "value" with the purpose to unfairly take away real wealth from the people who are actually engaged in productive labor for the benefit of society.

And yet, today, the representatives of the modern, ultra-high-tech societies respond to gold like a pack of drooling crazed idolaters of the caves during the annual offering of virgins as a sacrifice.

People have been brainwashed for centuries, and today they still continue to perceive gold as a magically precious commodity, without any justification or confirmation. They just believe in it that strongly resembles the way we believe in paper money or stocks.

This allows a persons from the "financial industry", the name itself is one big misunderstanding, unfairly usurp the huge wealth by manipulating the imaginary dignity of useless metal.

Gold is really no different from all this worthless paper and "financial instruments", which are used as chips in the casino of wall street. Like gold, they are made-up goods. In contrast to the really essential food crops, oil, ore, minerals and other real assets, they are not vital vital or even useful for the survival of society resources, and do not possess any intrinsic value.

Gold: Lord of the Empire of fake money

Commodity money is only useful for those who crave wealth, but not inclined to make. Fraudulently assigning intrinsic value to something is by definition useless, whether "precious metals" or handsome financial products, they have created a monetary system based on lies.

Due to the fact that a powerful ancient tribal leaders, pharaohs, emperors and kings highly prized gold for its seemingly immortal beauty, its fictitious "value" was inevitably perceived by their subjects. In the end, myth has become a truism that passed through the ages, leading to highly modern, scientifically educated and technologically advanced society that nevertheless clings to a primitive belief in a "barbarous relic".

Gold is not vital to human existence, it is, in fact, has relatively few areas of practical application. However, its main advantages are the extraordinary density and flexibility along with timeless Shine, made him one of the most coveted goods in the world, a transcendent symbol of beauty, wealth and immortality. From the pharaohs (insisting that they were buried in what was called the "flesh of the gods") and "people of the 49th" (due to the mad influx to the gold mine was created by the American West) to the financiers (laid, following the advice of sir Isaac Newton, gold in the Foundation of the world economy): in almost every society for centuries, clothed in gold garments almost mythological power.

Febrile affection of mankind to gold should not survive the modern world. In some cultures there is still the belief that gold can give eternal life, but of the world – the United States was last, in 1971 – has done away with the gold standard, which was publicly ridiculed by John Maynard Keynes as a "barbarous relic". – National Geographic.

Gold, having no intrinsic value – just the same Fiat currency as any paper document printed by the government.

It would be absurd to say that our country can release $ 30 million in bonds and not money. In both cases there are payment obligations, but one way allows you to gorging the usurers and the other helps the people. If the currency issued by the government, has not led to anything good, and bonds to anything good will not. This is a terrible situation when the government, to raise national wealth, must go into debt and put up with the devastating interest burden of those who contrived determines the value of gold. – Thomas Edison

Gold is useless as a sustainable means of payment, until it becomes a subject of legal regulation. Gold itself has no value, and therefore, when used with the appropriate target, should be seen as what it is – as paper money. Therefore, if it is used as money, its exchange value must be established by law and not subject to speculation or manipulation of the players, "the financial industry". The only way it can become a solid and practical means of payment.

Was it ever possible to use gold as money?

In addition to the denial of the true nature of money as an abstract force of law, there is a very practical matter that supporters of gold money can not pay attention for this monetary system may not be sufficient gold reserves. Gold mining is not always kept up with growth in population and trade, from time to time increased the real price of gold.

In the monetary system, this problem was solved usually by deception – pretending that ensure the functioning of the system, based on gold, but actually adding in money supply credit to private banks; pretending that a currency convertible to gold, changing the gold content in the system through fractional reserves of one kind or another. Due to the fact that this enormous power and unearned wealth went to the bankers, such a mixed system is never any shortage of apologists – and we call them "economists"! Director of the American monetary Institute Stephen Zarlenga

It should also be borne in mind that if you rely on historical facts, the use of gold as money is what made us start on the path to the current disastrous financial situation in which we now were.

The birth of a new religion

The overvaluation is not dependent on the monetary system. Banking is a form of representative money. In the ancient empires of Egypt, Babylon, India and China, the temples and palaces represent an important production centers, and they quickly became centres for the storage of grain and precious metals, as a rule, under the control of the Palace of governors and to the bishops clergy. When in a centralized repository, thus, accepted the goods, governing palaces it would be natural to give something like Deposit certificates, which would certify the proof of debt. Probably these certificates from the temple-banks could easily be taken with regular payments and apply to a (devalued) money. – Columbia University (here's a quote from the work "the Birth of money," Nobel prize in Economics of 1999 Robert Mandell )

So vicious, based on debt, the banking system of fractional reserves in fact has its origins in very ancient times. Goldsmiths-bankers in seventeenth-century England, the evidence is much clearer.

The President of the Bank of England and the second richest man in Britain in the 1920s, sir Josiah stamp during a speech at the University of Texas in 1927:

The modern banking system manufactures money out of nothing. This process is probably the most amazing magic trick that was ever invented.

Jewelers and bankers quickly succumbed to the temptation to issue "extra" receipts (Fiat). Why? But because the "plus" receipts enriched the bankers by allowing them to buy property receipts for gold they didn't own, gold that did not even exist.

That's where seriously began the illusion, known as the "financial industry".

The Congressman from Texas, Wright Petmen:

In other words, the goldsmith wrote receipts to people who have not passed the gold for safekeeping. These receipts are also treated as money. Accordingly, the appeal was receipts for more gold than in reality, had the banker in the vault. The jeweler was only part of the total amount of gold required to settle four claims (receipts). He gave $ 10 receipts for every dollar, expressed in gold. This is the system of partial reserves...

Therefore, there is sufficient evidence that points to centuries of deception, fraud and exploitation that led to the rise of psychopathic "corporate personalities", a monolithic international banking cartel, globalized predatory capitalism and all the rest are "economic" shit we in the collective ears ended up.

Mike Montaigne on the website "People for mathematically advanced economies" writes:

So the gold standard or silver standard or any other with the limits of alternative "standard", similar to based on a precious metal monetary standard, only to suffer a complete failure when attempts are made to support trade, requiring more turnover to ensure that treatment is truly suitable value and to prevent a catastrophe, as an inevitable consequence of loan interest: limited value of any such distinguished standard is unable to support the existence of industry that requires more substantial treatment than can provide cash reserves;

The inevitable shortfalls regularly contribute to the forced abandonment of the said standard and its degeneration into a system of partial reserves.

There is no hard connection between circulation, the potential value of the existing property or services, and the declared monetary value of currency;

So the estimated standard entails eternal oscillation between inflation and deflation, depending on the ratio of currency circulation to wealth, quite similar to those inconsistencies, which he claims to take.

Alternative standards, such as gold, do not have any power to stop the multiplication of the debt interest rate.

Given that only the elimination of loan interest stops artificial multiplication of debt, the gold standard for this purpose is totally unnecessary.

Then in the first two cases the gold standard really is a hindrance to implementation? the principle of cash-matching and in the third it is excessive.

So the gold standard is not only not there at all any need or indication for use; in the first and second case, the gold standard is essentially malicious, and the latter its ability to protect us from the worst of the troubles – not that other, as a fallacy.

For centuries a small minority of greedy individuals are doing frauds with "economies", and produce nothing but their own greed. The fabricated "value" of gold is pretty worthless shiny metal, once considered a possible source of immortality, was one of the main weapons in their endless class war against those who labor and work in order to create for all of us real wealth.

Today we are dealing with psychopathic, truly immortal, "corporate persons." They behave in much the same way malicious, however, have almost limitless resources and are not subjected to coercive measures by state agencies (here's a hint on the documentary "the Corporation," written by Joel Bakan and his book, in which Parallels are being drawn between corporations and the sick psychopathy ).

Now they are not just encroaching on a couple of villages, towns and, perhaps, a few hundred or thousands of people and devastate Bo? most of Earth and bringing poverty, suffering and death to millions. For the first time, feudalism has reached a global scale.

Few seem willing or able to tolerate, and even confirm the entire value of possible irreversible harm in the name of profit.

"When the money will become useless and I have food and water and you have gold, come to me and offer their gold in exchange. And until I'm filled with relief, you go your way, thirsty and hunger".



Source: /users/1077


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