The Problem With The Standard Monetary System

The Gold Standard Is a Scam And
The Same Holds True To Any Other Precious Metal

By G. M. AKUÉ

October 14, 2023.

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The current conventional monetary system, adopted by all nations, poses a danger that, for the most part, eludes even the experts in the field--and all the more so the ordinary people. This nature--or rather, this unnaturalness--is the central factor that has ultimately led the global economy, and by extension human society, to this advanced state of imbalance, leading to the destruction of an amorphous civilization in which the words "peace," "development," "security," and "cooperation" have all become synonymous with wars--both silent and noisy--and with widespread manipulation.

Currency is a medium of exchange, and is often said to serve as a store of value as well, but it has long since become more than that--a monster used by an elite to pull the strings of a humanity been largely transformed into puppets by its own lifestyle choices. And this obvious criminal nature can be clearly observed today by anyone with at least some interest in the world's critical situation.

To rid mankind of all the excesses and inconsistencies of the system, there is no other way than to sanitize and redefine the foundations of the economy, to restore the medium of exchange strictly to its primary role, so as to make the whole system logical and coherent in the service of people and nations.

The following discussion will demonstrate, using simple and logical arguments, why and how the foundations of the current monetary economy and monetary system are at the root of the disaster facing human society.

 

Defining The Gold Standard

According to the official line:

Definition 1 : A monetary standard is a model established against which a country's monetary system is benchmarked. This implies that, within that country, all other currencies must be defined and valued in relation to this benchmark. In the old monetary system, the monetary standard used was the gold standard. Thus, the value of a currency was equivalent to a fixed weight of gold. However, the gold standard is no longer used in any country. It has now been replaced by the mandatory use of paper money.

Definition 2 : The gold standard is a monetary system in which (1) the monetary unit is defined in terms of a fixed weight of gold and (2) each national currency is freely convertible into gold. To guarantee this convertibility, the amount of currency issued by the central bank is strictly limited by its gold reserves.

Both of these definitions are false--if not downright absurd--because money issuance has never met any of the criteria officially put forth. This was true both before and after the so-called decoupling from or abandonment of the gold standard, except during the brief period when the new American nation still had control over its monetary system.

Here is an explanatory excerpt, following the official line, to begin painting the picture.

 

How Is the Price of A Currency Determined ?

Any purchase or sale involves a price. For currencies, we also speak of exchange rates, quotations, parity, or exchange rates.

But how is this price set?

It depends first and foremost on the exchange rate regime.

In a fixed exchange rate system, the currency's rate is set by the country's authorities. The rate is allowed to fluctuate only within very narrow limits, and when fluctuations are deemed too large, the authorities intervene to bring the rate back as close as possible to the official value.

In a floating exchange rate system, the currency's rate is determined by the laws of supply and demand in the foreign exchange market. A country's authorities are not required to intervene (but they may do so if they believe the exchange rate has deviated too far from what they consider to be the "fair" value).

Regardless of the system in place in a given country, what causes that country's currency to appreciate or depreciate?

The main factors influencing exchange rates are as follows:

Interest rates: the higher they are relative to other countries, the more attractive investments become, drawing in investors who will then buy the currency, which in turn causes its value to rise.

The balance of payments: if there is a deficit (imports exceed exports), there will be a demand for foreign currency at the expense of the national currency, which will weaken the latter. A balance of payments surplus, of course, produces the opposite effects.

Growth rate: If growth is steady and sustained, foreign companies will be attracted to the country and will acquire the local currency to make local investments, which will cause the currency to appreciate.

Inflation rate: According to the Purchasing Power Parity theory, the exchange rate of one currency against another depends on the inflation differential between the countries where those currencies are in use. If the inflation rate is higher in Country A than in Country B, the value of Country A's currency must weaken relative to Country B's currency.

In summary, it is simply acknowledged, based on the preceding explanations, that paper money is purely a commodity subject to speculation and the most immoral forms of manipulation, with no regard for anything other than pure greed and predation.

Finally, two theories are generally cited to explain the value of a currency:

    Purchasing Power Parity (PPP),

    Uncovered Interest Rate Parity (UIRP).

Purchasing Power Parity

Proposed as early as 1918 by the Swedish economist (Karl) Gustav CASSEL (1866–1945), Purchasing Power Parity, in its absolute form, posits the existence of an equilibrium exchange rate between two currencies that ensures equal purchasing power between the countries involved.

Example:

If the EUR/GBP exchange rate is 0.85 (1 EUR = 0.85 GBP) and it adheres to Purchasing Power Parity, a French consumer can purchase the same basket of goods with 100 Euros as a British consumer can with 85 pounds sterling.

Of course, this theory has its limitations, a fact readily acknowledged by The Economist, which publishes this index at regular intervals.

In summary, according to the PPP theory, the exchange rate between two currencies is linked to the respective purchasing power of those two currencies and fluctuates based on the difference in inflation rates between the two countries where those currencies are used.

And what causes inflation itself, if not manipulation of the money supply in circulation within a targeted nation or region?

Uncovered Interest Rate Parity

It states that exchange rates tend to adjust based on the prevailing interest rates in each country (on strictly equivalent investments) and taking into account the appreciation or depreciation of the local currency.

Indeed, investors will logically tend to invest their capital in the most profitable markets. They will therefore acquire the most "profitable" currencies, which will logically lead to exchange rate fluctuations.

Now, ask yourself where, in this entire pattern, the role of a nation's monetary gold reserves fits in. If the factors actually taken into account boil down to purchasing power parity and interest rate parity--which are themselves determined by arbitrary government decisions and the self-serving speculative choices of so-called investors.

If you can provide an honest and satisfactory answer to this question, the issue is resolved and the flaw is fully exposed.

 

The Well-Kept Secret

The process by which the Satanic Bankers conquer nations economically is simply incredible because it is incredibly simple.

Here's how it works:

First, they seduce political authorities into granting them the monopolistic power to issue the nation's currency as debt with interest (usury).

Second, they create OTA currency (out of thin air) as a bookkeeping or electronic entry when they extend this bank credit to the government and corporations in exchange for interest-bearing bonds, as well as to individuals in exchange for their property titles.

Third, when there is no mortgage-free property left to secure more loans and there isn't enough money to repay the loans, the victims face foreclosure.

The reason that the above sequence is inevitable is the best kept economic secret in the world. Here it is. When the Anti-Christ Bankers' and their associates (your friendly local banker) create the money as a bookkeeping entry to make a loan, say $1,000 for one year, the interest (usury) on that loan, say 10%, or $100 is NOT created and, therefore, cannot be paid!

When the bank credit is put into circulation, it increases the money supply and generates increased economic activity throughout the society. When the principal is repaid, the bank credit is eliminated and economic activity is reduced accordingly. If it stopped there, we could have an honest and potentially stable money system.

But then comes the rub. Since the interest amount was not created, it remains in the economy as a bank claim on someone's property. Why?

Because in order to pay the $100 interest (which was NOT created) on the first loan, someone had to borrow it into circulation. Thus, an unending cycle of debt is instituted with the inevitable eventual result being that title to all real wealth in the nation is owned by the Anti-Christ Bankers.

This is the reason why your farms, homes and factories are being foreclosed by the thousands every week! It is also the real reason behind inflation, which constantly erodes the value of currencies based on the current international monetary system.

To put it plainly, loan amounts are created--and, of course, are not backed by any real value--but great care is taken not to create the corresponding interest amounts; thus, any repayment including interest is impossible, leaving the borrower and their real assets--earned through the sweat of their brow--at the mercy of foreclosure by the banker.

Of course, a minority will always manage to repay the principal of the debt plus interest using the money put into circulation as loans. But the wealth produced by the majority flows back into the coffers of the Satanic conspirator, since there is no longer any money in circulation.

 

Fractional Reserve Banking System

Let's put things into perspective. Contrary to what some have come to believe, the dissociation of the dollar from the gold standard was merely another step in the agenda for global control. The underlying system was already designed to manipulate the global economy to that end.

The model that inspired the deceptive gold standard system dates back to a time when merchants would entrust their gold and silver coins to goldsmiths, who would secure them in their vaults in exchange for deposit receipts. And this system was, at the time, a paper-based one and fairly honest--if things had stopped there.

With virtually all the gold in their possession, the goldsmiths could lend out their "deposit receipts" for amounts totaling more than ten times the quantity of gold in their vaults and charge interest (usury) on something that had cost them practically nothing.

When this debt was created and put into circulation within society, it led to a temporary increase in trade and the production of real wealth until the loan was repaid. However, when the money was created, the amount of interest was NOT CREATED, and the end result was a net reduction in the money supply, causing depression and foreclosure--unless, of course, more money was put into circulation in the form of loans.

Thus was born "fractional reserve banking" and the system of usury that reigns over the world today.

Under this fractional-reserve banking system, lenders are allowed to lend up to 20 for every 1. This is perfectly legal and practiced by all lending institutions worldwide.

Example: Mr. A goes to his friendly banker, Mr. B, and deposits one thousand dollars ($1,000) into Mr. B's bank. Mr. B's bank is a fractional-reserve bank. Since Mr. B's bank is a Savings and Credit Union, Mr. A deposits the $1,000 into his own savings account.

The Savings and Credit Union is required by law to keep only 5% in reserve. It is authorized to lend 95% of the money deposited or 95% of the money held in savings accounts. This means that of the $1,000, $950 is available to be lent. In turn, the Savings and Credit Union takes the $950 and lends it to Mr. C so he can make repairs to his house, for example. Mr. C takes the $950 he borrowed and goes to the local hardware store or lumberyard to buy supplies, lumber, nails, etc.

The lumber company conducts regular banking transactions and therefore goes to its bank, Bank D, to deposit the $950. Bank D is now required to retain 5% but can lend out 95%, or $902.50. Bank D then lends this money to Mr. X, who, in turn, puts it back into the economy--through, say, the grocery store and other businesses. He spends it, and this money will now end up at Bank Z. Bank Z is required to retain 5%. This means that Bank Z can lend out $857.37. This money is lent out again and reinjected into the economy. This process continues until it reaches zero. With your $1,000 deposit, these bankers using fractional reserve banking are now authorized to lend $20,229.60. This is practiced by ALL lending institutions in America and all over the world. The amounts above do not include "interest" on the borrowed money, only the principal amount.

It is important to keep in mind that this leads to an increase in the money supply through the Federal Reserve system and central banks.

At this point, a substantial summary is in order. Under the accepted practices of the fractional-reserve banking system in effect worldwide, citizens as economic actors find themselves facing a scheme of expropriation that is completely beyond their understanding. They work and generate wealth, then deposit their assets for safekeeping with their nation's banking institutions. The criminal banker, without informing them, multiplies their assets twenty-fold (20), at the very least, through accounting record maneuvers and money printing, to grant it as loans to other citizens with enormous interest rates attached. While the naive citizen receives only a paltry amount of interest on his deposit, the parasitic banker uses it as a springboard to indebt and plunder the masses--and ultimately, the nation itself.

 

Money, Taxes, and Government Debt

There is what is recognized as "Constitutional money" which is measured in weights of gold and silver brought into existence by human production and used as a medium of exchange and a store of value. It no longer exists in a constitutional capacity! (This refers specifically to the United States of America.)

Then there is "modern money" which is created out of notes in unlimited amounts by the Federal Reserve (which is NOT a Federal agency but rather, a private bank corporation) along with other commercial banks. As a carryover from "Constitutional money", the people assume that modern money is also a medium of exchange and a store of wealth. The tip-off that modern money had a sinister purpose came when the people were forced to accept it via legal tender laws. The second clue came when Gresham's Law[1] worked perfectly, that is bad money (new money) drove Constitutional money (gold and silver) out of circulation. And it only took a few months for gold and silver money to disappear after 1964.

Simply stated then, Constitutional money as described in Article I Section 10 (Constitution of the United Stated of America) is production out of the precious metals of the earth, whereas modern money is non-production created by a monopoly oligarchy to regulate and own all human action and production. In other words, modern money has one central purpose. It is used to expropriate wealth. Dictionary definition of "expropriate" is "to take or transfer the ownership (of wealth) from one owner to another." The conclusion is that modern governments, whether communist or democratic, use modern money (non-production) to expropriate or steal your production and your savings. Yes, the same money system operates the world over.

The dollars that you have in your pocket were created at no cost. Their sole purpose is to take your production and savings without payment.

Please blank your mind and forget everything else and answer this question. If the government and its bankers or the bankers and their government (non-producers of wealth) can take your labor and your savings without payment, Who is your master??? Modern money expropriates wealth.

It is a great illusion to contemplate freedom under a world slave system where all production and wealth flows to the money creators. The reason that the illusion of freedom works decade after decade is because of government police power to REGULATE. Governments and central bankers create economic cycles pumping "money" (credit) and then withdrawing so that the money creators don't self-destruct. And essential to the survival of the system is the police power to reduce consumption, i.e. "income tax" and all other taxes.

Then what conclusions can be established?

Government gets all wealth and production for nothing because it "pays" with money (credit) that costs nothing. "Of all the contrivances for cheating the working classes of mankind, perhaps none is so effectual as that which deludes them with paper money". Quoted from your own Daniel Webster and projects wisdom.[2]

This means that government deficits DO NOT and CANNOT EXIST! Another quote: "The Federal Reserve in cooperation with the federal government has the inherent power to create money--almost any amount of it. This power makes technical bankruptcy out of the question".

Taxation, on the other hand, is therefore intended to defraud the population and control the consumption of goods and services--that is, purchasing power.

 

The Medium of Exchange In International Transactions

Some clarification on how transactions are conducted through the medium of exchange in international trade is necessary to better understand the deceptive--or even outright fraudulent--nature of global monetary policy.

In reality, to properly grasp the issue of the so-called gold standard monetary system, the following questions should be asked and adequately answered.

How is it ensured that a country's currency maintains the value assigned to it at all times, given that this value is supposed to be directly linked to its gold reserves?

The fact is that these decisions are essentially political and are not based on any clearly defined international economic criteria that must be respected by every nation upon the planet. Gold, therefore, has nothing to do with this.

What criteria are taken into account--given that it is clearly a nation's competent authorities who set the exchange rate of the national currency--in determining this rate?

They must be--and are--exclusively of a political-economic nature. Considerations of economic performance--the trade balance, competitiveness, purchasing power, etc.--even though all these manipulations have never truly yielded the desired results; if they have, then certainly not in the long term, nor even in the medium term.

How does one ensure that the money supply in circulation corresponds exactly to the claimed monetary gold reserves?

It is quite certain that in this area there is no correspondence or relationship between the money supply and gold reserves. At most, this serves solely as a psychological effect and/or a public announcement. In this case, the absurdity of such a system is demonstrated.

What, then, would be the real significance of gold reserves in this economic context?

Based on current knowledge and practice, they have no significance whatsoever, since there is no actual transfer of monetary gold at any point during commercial transactions--except in the case of deals between central banks as part of stock market manipulation and financial shenanigans.

How and by whom is the price of gold set on the stock market?

This is part of stock market speculation aimed at reaping huge profits to advance the globalist agenda of taking control of the world economy through the scheme known as the Global Interdependence Regime.

So what is taken into account in international transactions?

It is the reserve currencies recognized by the international banking system, which are owned by a small private interest group. Then there are bank loans taken out from institutions such as the IMF, the World Bank, and other related institutions controlled by the same conspiratorial minority in power. And this brings us back to the necessity of selling or pledging mineral resources--including gold, if you have any--to repay these loans. It's a systemic vicious cycle designed so that one can never break free from it.

Once again, gold plays no direct role--and never has--in this arena. Of course, transactions can always be conducted using gold as a means of payment, but it's important to keep in mind that it is the manipulation of the stock market that determines the monetary value of this precious metal. Ultimately, one is led to conclude that both monetary gold reserves and fiat currency are merely commodities promoted by the global elite, through which control is exercised via a psychological mechanism.

From this perspective, we have this prevailing model in which one or certain currencies are arbitrarily declared convertible and international reserve currencies based on criteria that have nothing to do with existing or nonexistent gold reserves. In this way, certain shadowy interests--which have nothing to do with actual nation-states--sit down to print paper money and show up at your doorstep to buy real value in exchange for a pile of printed paper. No, all of this is a mechanism deliberately made complex to throw people off the trail, and yet it is quite simple to unravel.

To further demonstrate the absurdity of the current international monetary system, let's look at it this way. Let's assume that all currencies retain the status of international reserve currencies, which would be fairer and more balanced. From there, all nations will have the ability to issue as much of it as they want to seize real production wherever they can get their hands on it, if we remain within the current dynamic of predation and supremacy. The result will be inevitable social chaos and economic disaster, with famine being a terrible consequence, and the world will quickly realize that organized labor is the essential asset in all cases, just as are mineral and agricultural resources managed responsibly and optimally. Unless the entire system is redesigned, setting aside all considerations other than a standard of value that respects the laws of Nature and human dignity.

 

A True Gold Standard : Can It Work, and How ?

At this stage, it is necessary to examine, address, and correct the various factors underlying systemic imbalance and institutionalized scam. Once this is done, the issue of the stability of the market price of gold will need to be resolved.

But the central question is: relative to what standard of value should this price be set?

Since speculation through the stock market is a source of instability, it cannot be applied in this context of seeking balance and equity.

Nor can currently circulating currencies be used as benchmarks for this purpose, since there is already a fundamental misdeal at the source.

Failing to take the aforementioned factors into account will only perpetuate the international monetary system in its current, unnatural state--one designed to serve the self-serving interests of a minority at the expense of real economies and peoples.

Therefore, a model of balance and equity requires a reference value standard for the gold standard itself, which must necessarily be a measure of a commodity that every nation can naturally produce.

It could be decreed, for example, that a gold bar--whose quality and weight are clearly defined, controlled, and upheld--is worth one (1) metric ton of corn or any other grain commonly produced throughout the world. In this way, speculation is prevented, and a measure of justice is restored to the heart of the system.

In reality, in this specific context, it is not the produced quantity that should take precedence, but rather the estimated labor time invested in production. However, given the prevailing mindset, taking the produced quantity into account rather than the time invested does indeed provide a greater guarantee.

Consequently, all monetary units of nations across the globe will retain the same value. And this brings us to the concept that all currencies must be of equal value, whether or not they are based on the principle of gold reserves guaranteeing a country's means of exchange on the international stage.

Now, if a certain measure of a commodity perfectly serves the purpose--being accessible to all--in place of gold, why choose a commodity that not all countries in the world have available for this specific purpose? Why not directly opt for this product, which is available and common to all, precisely to avoid potential circumventions caused by flaws in the system as chosen from the outset?

Next, the question is: how will this determine the amount of monetary gold a country must hold?

Because a country has complete discretion to determine the money supply to be put into circulation to serve its economy, this decision will rest with the government of each nation. From this perspective, there is no real control if we limit ourselves to that alone.

The gold standard should thus directly serve as the medium of exchange used in international monetary and financial settlements. Monetary settlements will thus be based on monetary gold reserves, which will constitute the sole currency in international trade transactions. The advantage here is that nations will deal on an equal footing under a just and equitable monetary system, with a stable and common medium of exchange. In this context, only the pricing of goods will vary depending on the country of production.

If, however, care is taken to ensure that this entire issue is genuinely addressed, the question of ownership of gold mines and the criteria that will apply to the establishment of gold reserves--intended to serve as monetary currency--will remain.

The possibilities are as follows:

In the case of nations that possess gold:

Convert the raw material into gold bullion to build the necessary national reserves; and sell them to other nations that do not possess them in exchange for useful goods and services;

And for those that do not possess them.

Exchange raw materials for the gold the nation needs; or sell goods and services in exchange for gold.

Now, assuming that all nations have been able to solve the equation that has allowed them to procure the gold bars to build up their reserves. And this, based on the standard of value determined by the measure of conventional commodity mentioned above.

What is the economic factor that determines the amount of gold a country must possess in order to fairly and honestly secure its rightful place in the international monetary system?

The only economic factor or element that can be taken into account to ensure that this operating field is even somewhat equitable is the total population of a given country. Since money supply is normally based on the number of inhabitants participating in the economy, what holds true at the national level must also hold true at the international level.

And, in the same vein, should a country's wealth be assessed based on the natural resources it possesses?

Or would it be more correct, respectful, and fitting to assess it by measuring the time invested in the production of goods and services?

In that case, monetary gold reserves should essentially be built up to correspond to the amount of wealth, per capita, actually produced by the nation.

At this point, when the time comes that the entire stock of gold has been spent on purchases on behalf of the nation, how does one replenish supplies on the market or rebuild its reserves? Logically, one would repeat the same process already mentioned.

Now, why exchange goods and services for gold before spending it on purchases, rather than proceeding directly through barter transactions involving those goods and services?

In this scenario, the absurdity of the practice becomes clearly obvious. The gold standard is therefore a failure, since this so-called precious metal is not available to all nations.

Furthermore, it is not the stock of gold that should--arbitrarily or according to some other irrelevant criteria--determine the money supply in circulation or the market value of production, but rather production itself, valued in terms of the amount of labor time invested in it.

Ultimately, if we can and must evaluate the price of goods on the sole relevant, fair, and egalitarian basis of the time invested in their production, then there is no need to maintain gold reserves as a medium of exchange. Paper money will serve this purpose well, and the mines will be left undisturbed to serve other purposes useful to human progress. Furthermore, given the burden that this medium of exchange--paper money--can and does represent, bookkeeping would serve better in its simplicity.

 

How and on What Basis Should
We Proceed With Bookkeeping Entry ?

It will intervene only when neither party has an interest in barter-based economic transactions. Otherwise, the transaction will be recorded as a financial credit to the supplier's account and a debt to the purchaser's account. These credits will be legal tender in any nation within an international monetary system restructured to serve the interests of humanity on Earth. As for debts, they will be repaid when the nation in point finally secures the means to do so directly on behalf of the original supplier or another nation that has inherited the debt in question.

However, when viewed through the lens of the Monopolarity of an Enlightened Civilization, the Divine principle of balanced Giving and Regiving should lie at the heart of all human relationships and transactions. And on this life path, giving need not necessarily entail a material debt on the part of the recipient, for the ultimate reward belongs to the soul of the brotherhood of humankind.  The economic system within a monopolar context of mutual uplifting will therefore consist of seeking the highest balance in all things to ensure harmonious evolution.

Within this dynamic, the final element that remains to be established--and which will seal the whole system into harmonious operation--is a simple, clear, and common standard of value that will provide a foundation upon which international trade can operate transparently. Until we reach that point, the best way forward is to proceed through bilateral negotiations, relying on the humanity of the parties involved.

We can thus clearly see why the gold standard system cannot function unless the intent is defrauding and exploitation. The reasons are further clarified in the following chapter.

 

The Failure of Gold and Other Precious Metals as a Standard

Every person values things differently from everyone else, and also differently at different times and in different places. Consequently, the first thing necessary for establishing a "Standard of Value" is to determine the general requirements for ALL "standards":

First, a standard must possess similarity. In other words, it must be similar to what it measures. A standard of weight must have weight, a standard of length must have length, and so on.

Second, a standard must possess stability, meaning that its value must remain constant under all conditions throughout the system it serves. An inch is exactly the same length every time and everywhere it is used.

Third, a standard must be universally accepted. That is, everyone in the system must understand it, possess it, or have easy access to the standard unit.

If you compare any commodity--and especially gold--to the criteria for a monetary standard for measuring wealth, you will find them woefully inadequate.

As for the first criterion, uniformity, there is no connection whatsoever. The value of gold, for example, is determined by its weight and purity. While the price of many commodities (coal, wheat, meat, fruit, etc.) is determined by weight, the price of manufactured goods has little to do with their weight, as the main cost factor is "labor."

As for the second criterion, stability, you'll find that gold is only chemically stable--that is, durable. As a product on a free market, its price would fluctuate according to the law of "supply and demand." As a regulated product, its price has been less stable than that of the stock market, and for the same reasons.

As for the third criterion, universality, while many people have gold wedding rings and some have gold dental fillings, very few have gold coins that could be used as currency.

Furthermore, the vast majority of the world's gold reserves are held or controlled by the Satanic Bankers. Think about this carefully.

Thus, it is evident that, of these three criteria for ALL standards of valuation/measurement, neither gold nor silver meets any of them as a monetary standard.

Furthermore, "gold fanatics" insist that money, in addition to serving as a medium of exchange and a unit of account, must also be a store of value--which most of them mistakenly refer to as "intrinsic" value. But these are contradictory requirements. For money to fulfill its function as a medium of exchange, it must be kept in circulation; the faster it circulates, the better it serves this function. If it is "saved" or hoarded, it cannot function as a medium of exchange.

 

Conclusion

The current monetary system has thus clearly succeeded in trapping human civilization within an artificial, unnatural paradigm that has ultimately turned into a tomb in which humanity is being buried alive. Mankind needs to break free from this system; otherwise, it will have chosen to remain on autopilot, following thoughts imposed by an insignificant minority--thoughts that, by default, end up becoming our own, serving the purpose of enslavement. This in itself constitutes an insurmountable obstacle to any positive evolution of human society.

Currently, the institution that manages our means of exchange has been transformed into an anonymous monetary system based on nothing of intrinsic value, much less on actual production. The entire flaw lies at this level.

The scheme is based on creating the illusion that currency is backed by gold, from which it derives its value. At the same time, everything is set up to ensure that only central banks hold the world's gold reserves. In this way, the entire economy can be easily manipulated to appropriate, at no cost, the real wealth produced by the labor of nations. Since gold is a commodity with intrinsic value that cannot be repudiated--as is done with paper money through arbitrary decisions by governments under the control of central banks--owning it is a safer investment than any other medium of exchange.

Given all the developments and arguments presented in the body of this paper, it has been clearly established what is wrong with the system and why the monetary and banking system must evolve into a paradigm that is far more balanced and respectful of Human Life and Liberty.

In our humble opinion, the approach advocated in this article is well-suited to paving the way for the restoration of equality and respect within human societies, in a state of lasting balance and harmony.

 

[1] Gresham's Law is a monetary principle stating that "bad money drives out good". If two forms of currency with equal face value but different intrinsic values circulate together, people spend the inferior currency (bad money) and hoard or melt down the superior currency (good money), causing the valuable money to disappear from general circulation.

[2] Daniel Webster was a famous American statesman and orator who projected an image of deep wisdom and gravity through his powerful speeches, legendary "leonine" appearance, and staunch defense of the U.S. Constitution and national unity.