In 1931 the Gold Standard Amendment Act "temporarily" suspended the ability of the people to exchange their Bank of England "promises", for Gold.
That 'temporary' measure has lasted in excess of 85 years and is still in place!
So why did it happen?
Tabled as a "National Emergency" it wasn't. It was a Banking Emergency!
The Bank of England wasn't Nationalised until 1946!
The general public had become disillusioned with Bankers and the Banking fraternity at large - and with good reason. Confidence was shot to shizen howzen (a technical term) and the people had been exercising their just right to withdraw the Gold owed back to them, from the Bank of England.
But there was a problem.
Banks engage in Fractional Reserve Banking - in other words, they Issue Notes for a "value" (amount) far in excess of the Gold Reserves they hold. In other words: they only hold a Fraction of the Substance (Gold) which backs the Notes, in Reserve. Hence: Fractional Reserve Banking
Fractional Reserve Banking creates fi-at Currency. fi-at is an Italian word meaning "no-thing". Hence: "no-thing" currency - it's backed by nothing, except your confidence, faith & belief.
Here's a little something about confidence, faith and belief.
fa-it[h] (fi-at misspelled)
Perhaps that's why money is often referred to as a religion, or is shopping the religion and money the new g0d? I can never quite remember.
Either way - the true nature of the scam still lies unseen - until now:
If I lend you Paper (notes) but have you pay me back in Gold, how much profit do I make?
What risk did I take?
Bankers and Politicians would have you believe that Fractional Reserve Banking/Lending enables the extension of "easy credit" which in turn fuels the economy.
I say "that's b/s" (another technical term).
What Fractional Reserve Banking/Lending does is make bankers very rich very quickly - and here's why.
You come to me for a loan. I make you jump through some hoops to cast the illusion that there's some kind of risk involved. Once we're done with the charade I eventually agree to lend you some "money", except I don't hand you Gold/Silver (aka Money of Substance) - oh no no no. Instead, I hand you Notes ("promises-to-pay" money)
Of course, you look at the notes and you just see "spending power". You "think" it's all the same, but it isn't. paper is paper, and gold is gold.
One is good for wiping one's behind on, and the other has an intrinsic value.
Now all I have to do is encourage/persuade you to pay me back with Gold. Afterall, gold/paper - it's all the same right? (Wrong!)
The moment you pay me back with gold, is the moment the magick within my spell-binding powers has been shown to work - again!
Bankers are magicians. They have the Midas Touch. What did Shirley Bassey say about Gold-Finger?
"beckons you to enter his web of sin, but don't go in"
In commercial terms sin = debt.
Can you see the trick?
Can you see why it's important to exchange fi-at Currency Notes for Gold/Silver and or other precious metals which have an intrinsic value???
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