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Gypsy
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The Dollar Cannot Be Devaluated and Sucidal Bankers

- Hugo Salinas Price - Plata.com

Thank you Hugo. You've explained a universal dilemma in terms I can understand. It's obvious to me now, that the entire monetary system is based on CONFIDENCE rather than based on the VALUE of anything tangible. It feels as if we're basing our incomes, homes, automobiles and even shoes ~ on a Mental Construct: an illusion, a ghost, a mirage we're taught (from birth) to believe is real, touchable, holdable. It's as if someone, very old now, were standing on a street corner as a human statue since 1913. He is holding, in his hand, a 1913 paper dollar. Over the years that dollar has gone from being worth 100 bars of candy, to 20 candy bars, to 1 candy bar and now to less than 1/2 of a candy bar. He's been holding an illusion that's slowly disappearing ! !

Commented 3848 days ago

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Beginning of the headline :The last dollar devaluation took place under President Roosevelt in 1934, when from being worth 1/20.67th of an ounce of gold in 1933, the dollar was devalued to 1/35th of an ounce of gold. The last opportunity for devaluing the dollar took place in August 1971, when the dollar was still pegged at 1/35th of an ounce of gold. Nixon took the advice of Milton Friedman and made the worst mistake in history; Nixon did not devalue the dollar as he should have done, but simply took the US off the gold standard, such as it was, and thence forth the US refused to redeem dollars held by Central Banks around the world at any price... Read More

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