tag:blogger.com,1999:blog-6498674929523264462.post168866870040038696..comments2024-03-26T12:20:35.110+00:00Comments on Theo Spark: Going Down?.................from RicoUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6498674929523264462.post-10036813085753266642018-03-20T15:00:23.972+00:002018-03-20T15:00:23.972+00:00The reason for coming off gold/silver based curren...The reason for coming off gold/silver based currencies to fiat currencies was to prevent the population from realizing that inflation was just a tax placed on the citizens of a country. You notice countries still deal in real gold when making exchanges for goods and services government to government. However, make loans to other governments in fiat currency to make the loan easier to pay off and worth less than at the time the deal was inked. Our currency was taken off the gold standard and placed on the silver standard because silver was worth less than gold and by definition it would increase the money supply as now the dollar bought the same weight in silver as it did in gold. This was done in an attempt to get the economy moving by increasing the money supply. It didn't work. In 1974 we were taken off the silver standard and the dollar became a fiat currency in an effort to hide the insane 17 trillion dollar debt owed to the American people to finance the Vietnam War from the Johnson and Nixon administrations. Since then it's been a convenient way to raise taxes with appearing to raise them.Anonymousnoreply@blogger.com