15 𝒅𝒂𝒚𝒔 𝒕𝒐 𝒔𝒍𝒐𝒘 𝒕𝒉𝒆 𝒗𝒊𝒓𝒖𝒔 𝒕𝒐 𝑺𝒐 𝒘𝒉𝒚 𝒅𝒐 𝒕𝒉𝒆𝒚 𝒘𝒂𝒏𝒕 𝒕𝒐 𝒊𝒏𝒋𝒆𝒄𝒕 𝒕𝒉𝒆 𝒌𝒊𝒅𝒔 𝒏𝒐𝒘❗

In early August 1971, France sent a warship to New York harbor with instructions to bring back its gold from the New York Federal Reserve Bank. On 15 August 1971, President Richard Nixon suspended the convertibility of the US dollar into gold. This was the beginning of an era of “fiat money.” This enabled the United States to live beyond its means through annual budget and trade deficits and growing national debt. This debt-based system that was created, said Ciummei, “in truth, collapsed in 2008. [Events of 2020/21] all should have happened really around then. But they managed to reinflate the balloon.”

They managed to reinflate the “balloon” using Quantitative Easing and the printing of money by Central Banks. “There’s an ability that they can create money out of nothing and loan it to the government who pay them back with interest,” Ciummei said.