In this piece, we will continue with the Gold Standard series and here, we will see how it was removed from America. In a future series, this site will tackle the Gold Standard in more detail.
The gold standard can operate in two different formats: 1) gold coins or 2) fiat currency backed by a percentage of gold to resemble the Brettonwoods agreement, less the dollar. What is fiat money? Fiat money is a government-issued currency that is not backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S. dollar, are fiat currencies.
Also, there was an alchemist formula to creating gold from lead and in the UK, precisely on January 13, 1404, it was King Henry IV of England who signed a law making it a felony to create gold and silver out of thin air, meaning that he had passed a law to ban the manipulation of lead into gold. This will be dealt with in another piece.
America also stole the gold of its populace, including many other governments, so they can engage in a full blown world war, which gold restricted them from doing so. The Bretton Woods Agreement dropped as well because Nixon couldn’t fight the Vietnam war. The Bretton Woods agreement established a currency exchange regime system in 1944, following years of negotiations among 44 nations. This system required a currency peg to the U.S. dollar which was in turn pegged to the price of gold.
The United States left the gold standard, a monetary system in which money is backed by gold, on April 20, 1933, when Congress passed a joint resolution that eliminated creditors’ ability to demand payment in gold. With the exception of an embargo on gold exports during World War I, the United States had been on the gold standard since 1879. However, bank failures during the 1930s Great Depression scared the public into hoarding gold, making the policy unworkable.
President Roosevelt imposed a nationwide bank moratorium shortly after taking office in March 1933 to stop people who were losing faith in the economy from running the banks. Additionally, he banned banks from exporting or paying out gold. Inflating the money supply is one of the strongest strategies to fend off an economic slump, according to Keynesian economic theory. Furthermore, the Federal Reserve’s ability to expand the money supply would increase if it had more gold. Roosevelt had noticed that Britain had abandoned the gold standard in 1931 due to comparable forces.
Roosevelt issued an order on April 5, 1933, requiring all gold coins and certificates with values greater than $100 to be exchanged for other currencies. By May 1st, all individuals were forced to turn in their gold coins, bullion, and certificates to the Federal Reserve at the predetermined rate of $20.67 per ounce. As of May 10, the government has received $470 million in gold certificates and $300 million in gold coins. The gold provisions in numerous public and private obligations were eliminated in early June by a joint resolution of Congress, which mandated that the debtor reimburse the creditor in gold dollars of the same weight and purity as those borrowed. The Federal Reserve’s gold holdings surged by 69 percent when the government raised the price of gold to $35 per ounce in 1934. The Federal Reserve was able to further expand the money supply thanks to this rise in assets.
Up until August 15, 1971, the government maintained the $35 per ounce price. At that point, President Richard Nixon declared that the US would no longer exchange dollars for gold at a set rate, effectively ending the gold standard.
The removal of gold as money was enforced on nations by the Zionist regime that owned and controlled national governments through debts, since they owned and controlled them by means of controlling the international financial institutions and made governments dependable on them since the French revolution. Hence, why they are the true establishment as they are the owners and controllers of governments.