RE: GOLD11 Sep 2024 15:03
This is how the fiat system works.
When worthless bits of paper are issued and you are told that you can exchange a $100 bill for $100 worth of gold, the confidence in that bit of paper as a valuable means of exchange become secure so that after a period of time, folk believe that that bit of paper really is worth $100 or $500 or whatever the hell the government tells you it's worth.
When the US made it illegal for its citizens to own gold, they took in your gold and to incentives you to 'hand it over" they revalued the price of gold overnight.
Folk then tricked into thinking they were doing their duty and making a few quid at the same time handed their gold into the government....
And in return.... got settled in paper currency.
Now that's a serious RESET and transfer of wealth played out.
Eventually the hard assets always find their way back to the top and the poor get mugged of their hard assets.
Getting a bit political here, but thatchers right to buy lifted a generation out of the system for a brief period, with many of those homes finding their way back into fhe hands of the rich as cash was offered in exchange and the children of those families are back renting again.
How do you think governments could easily introduce worthless digital tokens to be taken up and viewed as a medium of exchange and store of value?
Same trick that they used with worthless bits of paper would be my guess.