Fiat Currency Fraud | The Gold Standard #2202

https://www.midasgoldgroup.com/

Host Dave Deno and guest Ken Russo, Sr. VP of the Midas Gold Group, talk about the fiat currency as a fraud perpetrated on the citizens of the US. Those who follow The Gold Standard radio show know that the US dollar, otherwise known as paper currency, is fiat money, which means that it is backed by, well, nothing. The only reason it works is that so many people believe in and have confidence in the same illusion. The masses of people and nations who hold it and use it to buy things have confidence that it does have value. In other words, the US dollar gets its value from faith alone.

Fiat Currency is a Scam

People are waking up to the fact that they’ve been led astray by the scam that fiat currency has any value. Every fiat currency that civilizations have ever created has ultimately become so devalued by its government to be rendered worthless. Fiat currency is a scam that arises from greed and ambitions to have more constantly. Just think about our recent history: the tech bust, the equities bust, and the housing market bust created by fiat currency.

The Slow Death of Fiat Currency

Ken shares firsthand observations of what has happened to the dollar’s purchasing power over decades. It’s heartbreaking and immoral. Please think of the people who have saved systematically throughout their life only to live long enough to see their purchasing power dwindle before them. We will see, in our lifetime, the US dollar put to the test. These podcasts are here to help protect people through sharing knowledge. There are alternatives. Even the central banks stack gold while publicly denouncing the precious metal as an artifact from the industrial age.

“If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all of their property until their children will wake up homeless on the continent their fathers conquered.”
Thomas Jefferson (1743–1826)

Gold is Real Money

Gold is truly a haven of stored value because it comes from the Earth. Long after the US dollar and associated coinage have been placed on exhibits in museums, gold will have done its accounting just as it has always done. It is God’s money, and man, try as he might, will never be able to create it.

“Ninety Percent of Americans are Completely Unprepared for a Financial Lockdown”

Dave references a quote from a former Goldman Sachs banker who said, “90% of Americans are unprepared for a financial lockdown.” It’s a final wake-up call that stresses the point that most Americans are still going about life, business, investing, and retirement planning as if nothing unusual is happening in our financial environment.

The American Gold Buffalo

The American Gold Buffalo is pure Americana. As the nation’s only .9999 pure 24-karat gold coin, the American Gold Buffalo is a coin you must see and hold to appreciate it truly. Unlike 22-karat gold coins (the American Gold Eagle), which have a brownish-gold color, the 24-karat American Gold Buffalo has a bright yellowish gold luster ingrained into a rustic surface. One of the striking aspects of the American Gold Buffalo is the reprise of James Earle Fraser’s classic Buffalo Nickel design from the early 20th Century. For this episode, Ken shares the impressive American Gold Buffalo bullion coin from the US Mint.

Fraser’s design for the Buffalo Nickel is faithfully reproduced in its entirety, enlarged to the size of the breathtakingly beautiful one-ounce 24-karat American Gold Buffalo. The obverse is the chiseled profile of a proud Indian Chief, which Fraser based on three Native Americans, Iron Tail, Two Moons, and John Big Tree, a proud Seneca Indian Chief. The famous reverse shows Black Diamond, an actual bison who lived at the New York City Zoo at the turn of the Century.
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