markchem Posted November 25, 2011 Report Share Perhaps this is a dumb question this late in the game. I am seeing a lot of references lately to the overwhelming and seemingly endless supply of IQD in circulation. Four trillion? 41 trillion? More? Additionally, there seems to be continuous selling of Dinar going on for those who want just a few more anticipating an imminent RV. What backs the production of all this currency? Presumably, I have always been led to believe that every US dollar printed had its value backed in gold. This was a check and measure to control production and a balance of our money supply and currency. I do not know what backs the many trillions of Dinar printed. It could be oil down the road, but I would not think so at present, since there is no legitimate connection evident since there is no HCL agreement. Additionally, it appears all oil transactions at present are done in USD. Therefore, what balances and validates this currency to justify a RV? Thanks in advance to those who can educate me. 10 3 Quote Link to comment Share on other sites More sharing options...
R2d2dc Posted November 25, 2011 Report Share Well, I do not believe that the US Dollar is backed by gold any longer and has not been for some time. I can't answer your question though? I believe confidence in the country and currency has something to do with it though. So the stronger Iraq gets in many areas such as government and commerce the better, is what I have an understanding of it's value. I look forward to reading what smarter people than I have to say though. r2 9 1 Quote Link to comment Share on other sites More sharing options...
Popular Post TrinityeXchange Posted November 25, 2011 Popular Post Report Share hello my friend. firstly the usd is what is termed FIAT currency. it is valued by DECREE and not by SUBSTANCE. a dollar is a dollar and has the value of a dollar because it has been decreed to have the value of a dollar by those who created it. 1933 and FDR (Roosevelt) and the federal reserve began the change of monetary policy into what is observed today. FIAT, money by decree. FIAT money dominates the global monetary policy. i strongly suggest you watch the video "money as debt". it will literally change your world view after 45 minutes of audience and 3x watching it until it finally sinks in. 5 years ago i my brother introduced it to me and i can truly attest to how it began me down a road of complete transformation in how i view the world. next i suggest reading up on the petro dollar. it is the measure of control by the united states and its military industrial complex to control its interest in the global economy by denominating global oil reserves in united states fiat currency. this too will change your world view. i suggest ordering "Petrodollar Warfare: Oil, Iraq and the Future of the Dollar". the IMF, World Bank, WTO, Bank of International Settlements et al. work in the realm of fiat currency and has established a system of money for the world around these guidelines. it is a system that is removed from substance money and essentially common law courts (substance courts) into a world of "colorful" courts or commercial courts ruled by non-substance and governed or regulated by bills, notes and bonds (insurances). this is a study in and of itself. if you ever get a chance, read up or google the uniform commercial code. this IS the new law of lands over which the world banking system now rules. i think i have given you enough to begin your educational digging. be blessed my friend. 41 Quote Link to comment Share on other sites More sharing options...
MrDinarman Posted November 25, 2011 Report Share USD is not backed by gold.....not since the early 70's anyway 3 Quote Link to comment Share on other sites More sharing options...
dtard Posted November 25, 2011 Report Share This is a great question! Can anybody here prove what backs dinar? Mineral wealth or belief..... 2 Quote Link to comment Share on other sites More sharing options...
joseroque Posted November 25, 2011 Report Share The dollar has always been backed by the gold reserves that are kept at Ft. Knox. Otherwise it would be worhtless unless we had something else to back it, like oil. The Dinar is backed by the potential of all the oil in the ground. The UST keeps the dinars that are cashed in and will trade for oil or a lower oil price. There is no mystery to any of this. Anything else that is said is just convoluted logic! 5 52 Quote Link to comment Share on other sites More sharing options...
Popular Post storm1 Posted November 25, 2011 Popular Post Report Share The dollar has always been backed by the gold reserves that are kept at Ft. Knox. Otherwise it would be worhtless unless we had something else to back it, like oil. The Dinar is backed by the potential of all the oil in the ground. The UST keeps the dinars that are cashed in and will trade for oil or a lower oil price. There is no mystery to any of this. Anything else that is said is just convoluted logic! unfortunatly your WRONG, the dollar is back by debt. oh and just so you know "the federal reserve " is not federal. it is a private entity. 24 Quote Link to comment Share on other sites More sharing options...
Popular Post tep Posted November 25, 2011 Popular Post Report Share (edited) The dollar has always been backed by the gold reserves that are kept at Ft. Knox. Otherwise it would be worhtless unless we had something else to back it, like oil. The Dinar is backed by the potential of all the oil in the ground. The UST keeps the dinars that are cashed in and will trade for oil or a lower oil price. There is no mystery to any of this. Anything else that is said is just convoluted logic! Sorry you are misinformed. Federal Reserve Notes (FRNs) are backed buy nothing and printed up out of thin air as the FED sees fit. We have not been on the gold standard since 1971: " The Bretton Woods System, enacted in 1946 created a system of fixed exchange rates that allowed governments to sell their gold to the United States treasury at the price of $35/ounce." "The Bretton Woods system ended on August 15, 1971, when President Richard Nixon ended trading of gold at the fixed price of $35/ounce. At that point for the first time in history, formal links between the major world currencies and real commodities were severed". The gold standard has not been used in any major economy since that time. "Almost every country, including the United States, is on a system of fiat money, which the glossary defines as "money that is intrinsically useless; is used only as a medium of exchange". In other words FRNs are backed by nothing. (Google "gold standard") This is one reason the economies of the world are in such deep trouble. The Federal Reserve is not a part of the United States Government but is privately owned with the director being appointed by the president. A really good history of the formation of the FED is the book "The Creature From Jekyll Island" by G. Edward Griffin. That as well as the videos mentioned in other posts here will give the uninformed a good start on the road to reality. Anything else that is said is just convoluted logic! Edited November 25, 2011 by tep 19 1 Quote Link to comment Share on other sites More sharing options...
storm1 Posted November 25, 2011 Report Share I am amazed at the amount of people out there that are still clueless about how our banking system works and believe the "federal reserve " is a govt agency...people need to WAKE THE HECK UP!!!!!! instead of reading the new label on the side of your favorite beer can, they need to be reading imporatnt things. and yes im refering to people like you joseroque.and then have the nads to post.... >>>>>Anything else that is said is just convoluted logic!<<<< you really need to spend a weekend at you computer and do alot of reading 14 Quote Link to comment Share on other sites More sharing options...
Lenape Posted November 25, 2011 Report Share Alot of the gold in Fort Knox does not even belong to us anymore because we sold so much to others, we just hold it for them. 3 Quote Link to comment Share on other sites More sharing options...
storm1 Posted November 25, 2011 Report Share the other day i watched a video "Peter schiff" (my favorite economist) did, he was interviewing the OW fleabaggers i was amazed how uneducated these folks were and they were marching for a "cause" when asked what they were marching for i was amazed by the answers that were giving. the one guy had the odasity to the peter schiff that he was part of the problem. (peter schiff was the economist back in 2005 that called this banking/economic crash) 3 Quote Link to comment Share on other sites More sharing options...
jeepguy Posted November 25, 2011 Report Share don`t know about your dollars,,,but my dollars are backed by that guy at the bank,,he or she , has a little drawer full of u s dollars,, hahahahaha good read folks 1 1 Quote Link to comment Share on other sites More sharing options...
Popular Post one Posted November 25, 2011 Popular Post Report Share Hello. This is my first post. I've been lurking for quite some time, and registered as a member earlier this year and was a VIP for a short while. I have generally chosen not to post in the past given the disrespect shown to many self-professed gurus, who, although getting it wrong much of the time, have offered truthful insight in a number of ways and on a number of occasions. Much of their commentary is beyond the comprehension of the masses given that the majority of the world's populace is not equipped with the true facts as to how finance, commerce, and the law actually work (I could go further to include the universe here but that's another discussion), given that schools, universities and modern text books all omit huge issues that when known change one's perception of what was previously considered a common truth or accepted fact. The same can be said for the gurus, who, whilst are equipped with more facts than the majority, their version of "the truth" is still not the full pictue either, hence their continued perceived failure to date. Anyway, I wanted to respond to this thread given this appears to be a common issue of confusion. I apologise now for the length of post, however many basic assumptions must be overturned if one is to understand this investment. It is a fallacy that fiat currencies are not backed by anything. They are backed by the faith that a country is able to pay off it's "promises to pay" (which is all that your notes are); it doesn't matter how, so this naturally includes assets. Some background is needed to understand how this actually works in practice, and how it is accomplished administratively is nothing short of amazing in one's honest opinion. The current economic system is actually a world-wide bankruptcy system whereby all countries operate as if they were in bankruptcy as far as law is concerned, the US included (for confirmation regarding the USA, look up comments made by Jim Traficant). This is the only way in law that fiat currencies can be implemented. Accordingly, the economic system is an entity that is wholly owned and controlled (and often manipulated) by those creditors holding the banktruptcy liens; property rights dictate that they can do what they want with their property. People will naturally cry that this is a conspiracy theory here, however if they were to do the research they would find that the facts are out there and fully documented. Hence the current perceived meltdown is a controlled demolition, but from the highest levels, so even those corporations people deem as having been pulling the strings are subject to their creators, and in turn those are subject to the creators of the system. Fortunately, the system's creator is sorting things out and pulling the plug on many of these guys (scapegoating!), hence this is why it appears that at one level there is a battle for control going on; the truth is that there is only going to be one winner and this is predetermined by contractual obligation. That winner is all of us - eventually. This is why people feel their rights have been stolen. What has actually occurred is that you have given your consent to exchange these natural rights for privileges determined by those in charge. The larger commerical system of law that the bankruptcy economy sits within is where transactions of actual substance take place, and where gold and other substances are the currency, and this is the system within which creditors play. At this level, statutes of law are irrelevant, since their jurisdiction is limited to the debtors, ie all those people who do not realise the part they play in the world. This is the reason why it so often appears as there being "one law for them and one for us"; it is because that is the case! However all are in the position they are in via their own consent, hence it feels unjust that some are prosecuted for an offence that others will not be, however it is all about jurisdiction and contractual obligation and one's current place in the world; we all have the ability to rise up beyond it, however it is a philosophical journey to some extent that many don't have the will to pursue. In fact, this is largely why this has remained undiscoverd by the masses; people police themselves and the rest of society using ridicule and assertions that something is a conspiracy theory or people are nut-jobs etc. People would do well to remember: condemnation without investigation is the height of ignorance (Einstein). One must also remember the legal adage of "he who has the gold must pays the bills"; it is the creditors are responsible for a countries well-being, or not. Any person who is not aware that this is the case, is lawfully a debtor to these creditors, no matter how much "money" one thinks they have, since this "money" is actually only a promise to pay the creditor in energy, in the future. In law, all have given their consent for this to be the case, through their tacit acceptance and use of the system, hence their current legal status of being subject to statutes etc whether they deem them unfair or unlawful or not. (There are many films serving as metaphors for this concept: creditors are oftern depicted as vampires... they suck your blood, or rather your life force, ie your energy). Democracy, has two faces. On one side and at face value, it is allowing the people control of their destiny. On the other, it is a tool to make people believe they have a say when really they do not. It is mob rule where the majority wins, however the majority can be manipulated as you see today with the press and its consolidated ownership by a few. The rule of law, and constitutions etc, were put in place to prevent this manipulation and safe guarding basic rights so one cannot be persecuted as a minortiy via new laws (really just rules you have agreed to)... (there is no protection today - some minorities are protected but others are not). However, these constitutions do not apply to debtors within the system since they have given up that right by their own consent! The next stage is either to remove this layer of illusory control via commerce and go back to the consitution etc, or raise the understanding of all so that full use can be made of the systems that have been invented for the benefit of all. This choice is not clear in the public eye therefore a return to constitutional rule is the common solution put forth due to people being ignorant that there are other solutions, however this will result in a situation of scarcity, and an uprising of people who are going without. All of it is only possible because neither side of the argument understands the facts of the matter. So, back to the point,. the faith in being able to repay, is a reflection of the assets that a country has, which whilst in many cases will include substances such as gold and oil etc which have themselves been monetised within the bankruptcy system through the creation of legal title against an entity (person) who themselves are assets of the country, the majority of a currency's value is backed by the assets known as... the people, and their propensity to work (to labour and create motion) and pay taxes. The people, via the process of birth registration (check your birth certificate, it is bank note paper) are technically the assets or chattels of the country (again, techincally this is on a temporary basis however because people don't realise or choose not to reject this it is effectively permanent), and therefore a country can secure loans etc against their collateral, ie people (hence there is no political will to reduce immigration - more people equals more collateral). Currencies work the same way, and assuming everyone realised this is what backs fiat currencies, said currencies would always have value as long as there are people prepared to work and can do, since currencies are a reflection of energy, and are a tool to control and direct the flow of energy (and largely here I mean labour), or even save it for a later date. This is why security, infrastructure and industry are so important and such a big focus before the revaluing of the Iraqi currency, since during the war years there has been no ability for people to effectively work and therefore be taxed (and consequently the currency had little or no value). The revaluing will effectively correspond to the monetisation of the people by creating conditions to allow them to operate in the same manner as other countries, thereby backing the currency by their energy for the most par. People themselves have a value to a country, and these values are calculated based on all manner of criteria including birth-weight, gender etc using an internationally agreed (or rather centrally set) algorithm within admiralty laws ; this enables countries to quantify the energy that it's populace can contribute to the economy for use in determining currency values etc.One must remember that oil is valuable because it is energy; but the people are also a form of energy, given that without them corporations would be worthless since nothing can happen without a pair of hands to do it, and in fact people have a greater value given that said energy is largely unlimited. This, coupled with their vast natural resources, is why Iraq's currency could be very strong. Largely their population is very young which is another bonus, as therefore they have considerable energy, many years of work ahead of them, and the older population that would rely on consuming the energy of others, is largely irrelevant due to their low numbers following the wars. Extra. All those who feel corporations should be taxed more fail to understand that corporations cannot be taxed since it is only the workers that put anything in; accordingly it is the workers who are actually being taxed. The word corporation is derived from cooperation. The idea of a corporation was to pool energy for the collective benefit, however they system has been perverted for the benefit of the handul at the top, and today we take this as standard despite it not being how things were meant to be. Some will say this was a necessity due to the lack of understanding by the majority, however I would argue that a better approach would have been to raise people's understanding instead so all work together for the benefit of all. The truth is, there is no need for tax at all. What it occurring is the division and conquering of the people so that you will submit to the forthcoming solution of a centralised top down led dictatorship; one side wants benefits etc for everyone and high tax on high earners, the other sees this as unfair that they are working hard and paying for others and therefore they want reduced taxes and less benefits. The truth is that we can have the best of both worlds.... and a centralised system would offer great advantages, but only if achieved with the masses having full understanding and consciously consenting. There is no need to give up sovereignty, boundaries or any of these other illusory things, provided everyone has full awareness - something the interent is helping to deliver. If a country authorises a centralised power to act on its behalf, it can withdraw that consent and authorisation at any time, provided it is represented by persons of honesty, integrity, and full awareness to the facts. The same holds true on an individual level - it is simply a case of understanding the correct administrative methods to adjust one's legal status. If you don't like something, step out of the jurisdiction - and this does not mean you actually have to move! The invention of double entry bookkeeping, together with the system of birth registration and therefore value quantifying of individuals could be used to provide all services we currently have without the need for taxation to pay for it. The money is already there, just held in trust because the people are unaware so they will not take it back. Far better would be for people to know, but still leave it there for the benefit of all - services could then be paid for using these trusts and money never needs to be repaid to anyone because it is only yourself that you would owe. Currently banks seemingly create money - what is actually occurring is that they are monetising a loan application, where people are promising to pay back $x via their labour (energy). This can work the same for benefits - money can be created for someone's unemployment cheque by the authorising the access of their personal trust (based on your birth certificate) and creation of money against their name, however as above, there is no need to repay yourself! The current push by many parties to return to substance backed currencies, ie precious metals etc, is a deception. It may however occur for a short while, effectively between banktruptcy terms. This is the end of the 70 years banktruptcy term within which countries find themselves, and therefore this is a major opportunity. Understandably many parties who have discovered they are being used as collateral are unhappy with this and are trying to break free, ie the conspiracy theory movement. What they fail to understand is that fiat currencies are an invention, an idea, to be used for the benefit of mankind. They have taken us a long way in developing the world, and although leverage is a dirty word, the progress that has been made would not have been without fiat currencies and leverage etc. The problem has been that the trustees of the national bankruptcy states have colluded to benefit themselves at the expense of the people (from one perspective - although from their own they are doing it for your benefit, to teach you). The current time is a time where these trustees can be changed due to the end of the term, and the system can be used for the benefit of all rather than just a few, if only everyone had full awareness of the issues. So the major piece still required to finish this puzzle, is for people to actually realise all this. The debts do not need to be repaid. Yes the debts have acted as a yoke round people's necks, however in the language of law, this has been via our own consent. Now is the time to wake up! There is never anyone to blame but one's self. All debts can be paid off instantly via the correct administrative process by a person with the correct status in law, and this is all going to occur anyway despite people not realising what the problem actually is (and therefore it being impossible for them to see a solution). Many people believe that they need to be freed from the current system. It should be considered that freedom comes in many forms. I would argue that people would be freer if thay understood and could use the system correctly and therefore remain in this effective bankruptcy situation but via choice and awareness rather than deception, as opposed to withdrawing from the system altogether and therefore not receiving any of the great benefits as a substance backed system would deliver. Because said substances are finite, this type of system creates a scenario of scarcity and fear (of not having enough!) and therefore hoarding, self-centred focus, and consequently war (often this feels out of duty to protect one's neighbour, however it is an illusion!). Fiat systems allow abundance due to the energy being unlimited and help reduce said fear, provided there is conscious consent and awareness of the true system mechanism. Freedom is having choice. Currently people think they have choice, but they largely do not - they are forced either via peer pressure, "laws" of society, and most importantly deceptive tactics of subliminial conditioning to make them think that a thought is there own, when it has simply been suggested to them. To touch on the universal level, it is fear that maintains the world's problems. Remove it, and the world would be a much happier place. All this can only be achieved via education as to the true mechanisms of the current systems. A good start would be the removal of tax! (Taxes go to the creditors, not on benefits for the debtors - these benefits are paid for using the exact method I suggest ie double entry book-keeping and trust accounts via your application for said benefits, however the deception is that you are told that your taxes pay for these benefits hence dividing you from your neighbour who is receiving the benefits of what you perceive to be your labour but in reality it is his own money, you're just both being conned). This may not make any sense to most, but I hope for some, it may strike a chord. I wrote this out quickly in one go so if it reads as disjointed I apologise... just offering a perspective. I happily accept criticism and abuse given I have chosen to post this with my eyes open. It is a difficult subject to write about given there are just so many angles and so many assumptions that must be broked and replaced with new ones. Have a good day guys. Please keep this in Rumours as it will not get read in Perspectives. And treat it as entertainment 40 Quote Link to comment Share on other sites More sharing options...
Canuklady Posted November 25, 2011 Report Share TrinityeXchange, thank you for your informative and polite response to this question. I have not seen the video, but will spend some time watching it today. Like many people here, I spend a lot of time researching but unfortunately, I don't have a background in banking, finance, Middle Eastern politics, etc. There is so much information out there. It really helps when the more informed members can point us in the right direction. You and many others do this often and quite patiently, so plus one to you. My background is automotive products liability defense. Totally useless here. But I can tell you exactly what happens when a seatbelt fails or an airbag doesn't deploy in an accident sequence. just FYI, everyone should have a blunt object like a hammer in the driver door of their car to break themselves out of the window (doors often overheat and "melt" shut in an accident) as well as a pair of scissors taped to the driver door (to cut yourself out of your seatbelt in the event the belt fails, happens often, or to rescue a child trapped in a car seat). That's my utterly useless 2 cents for the day. Just want to keep you DV members safe pre and post RV! Everyone have a great day and go RV! 17 Quote Link to comment Share on other sites More sharing options...
one Posted November 25, 2011 Report Share The Federal Reserve is not the big baddie everyone thinks. Yet it has acted that way from our perception, however consider theirs... They have taken control of countries, as many people accept, albeit with disgust. What needs to be realised is that it is countries and sovereign states that want to live under a substance backed system which created scarcity and a division between a wealthy elite and the rest of us. The FED sought to change this, and fiat currency is a major tool. The big problem with their actions to date however, is that they believe the ends justify the means (as well as individual greed clouding the matter). They believe they have to lie, and cheat, and steal, in order to create a better future for us all. The fact is, this better future can be arrived at without going through all the pain, and without the lies etc, if only they would instead raise everyone's understanding. In due course, countries will regain control likely temporarily, however all will soon realise that is not beneficial to most of us. So whilst the FED is acting badly imo, the way it is set up, the international infrastructure that the private establishments have set up across the globe are perfect to be used for our actual benefit. All that is needed is an adjustment in perspective by those in control of it, or their replacement. 6 Quote Link to comment Share on other sites More sharing options...
Scrumdiddles Posted November 25, 2011 Report Share The dollar has always been backed by the gold reserves that are kept at Ft. Knox. Otherwise it would be worhtless unless we had something else to back it, like oil. The Dinar is backed by the potential of all the oil in the ground. The UST keeps the dinars that are cashed in and will trade for oil or a lower oil price. There is no mystery to any of this. Anything else that is said is just convoluted logic! House Joint Resolution 192 of June 5, 1933 On June 5, 1933, Congress passed House Joint Resolution (HJR 192). HJR 192 was passed to suspend the gold standard and abrogate the gold clause in the national constitution. Since then no one in America has been able to lawfully pay a debt. This resolution declared: "To assure uniform value to the coins and currencies of the Unites States, Whereas the holding of or dealing in gold affect public interest, and are therefore subject to proper regulation and restriction; and Whereas the existing emergency has disclosed that provisions of obligations which purport to give the obligee a right to require payment in gold or a particular kind of coin or currency of the United States, or in an amount in money of the United States measured thereby, obstruct the power of the Congress to regulate the value of the money of the United States, and are inconsistent with the declared policy of the Congress to maintain at all times the equal power of every dollar, coined or issued by the United States, in the markets and in the payment of debts, Now, therefore, be it Resolved by the Senate and House of t Representative of the United States of America in Congress assembled, that (a) every provision contained in or made with respect to any obligation which purports to give the obligee a right to require payments in gold or a particular kind of coin or currency, or in an amount in money of the United States measured thereby, is declared to be against public policy; and no such provision shall be contained in or made with respect to any obligation hereafter incurred. Every obligation, heretofore or hereafter incurred, whether or not any such provision is contained therein or made with respect thereto, shall be discharged upon payment, dollar for dollar, in any coin or currency which at time of payment is legal tender for public and private debts. Any such provision contained in any law authorizing obligations to be issued by or under authority of the United States, is herby repealed, but the repeal of any such provision shall not invalidate any other provision or authority contained in such law. ( As used in this resolution, the term 'obligation' means any obligation (including every obligation of and to the United States, excepting currency) payable in money of the United States; and the term 'coin or currency' means coin or currency of the United States, including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations. Sec. 2 The last sentence of paragraph (1) of subsection ( of section 43 of the Act entitled 'An Act to relieve the existing national economic emergency by increasing agricultural purchasing power, to raise revenue for extraordinary expenses incurred by reason of such emergency, to provide emergency relief with respect to agricultural indebtedness, to provide for the orderly liquidation of joint-stock land banks, and of other purposes;, approved May 12, 1933, is amended to read as follows: "All coins and currencies of the United Stated (including Federal Reserve notes and circulating notes of the Federal Reserve banks and national banking associations) heretofore or hereafter coined or issued, shall be legal tender for all debts, public and private, public charges, taxes, duties, and dues, except that gold coins, when below the standard weight and limit of tolerance provided by law for the single piece, shall be legal tender only at valuation in proportion to their actual weight.' Approved, June 5, 1933, 4:40 p.m. 31 U.S.C.A. 462, 463 House Joint Resolution 192, 73d Congress, Sess. I, Ch. 48, June 5, 1933 (Public Law No. 10 ) Note: "payment of debt" is now against Congressional and "public policy" and henceforth, "Every obligation . . . Shall be discharged." As a result of HJR 192, and from that day forward (June 5, 1933), no one in this nation has been able to lawfully pay a debt or lawfully own anything. The only thing one can do, is tender in transfer of debts, with the debt being perpetual. The suspension of the gold standard, and prohibition against paying debts, removed the substance for our common law to operate on, and created a void as far as the law is concerned. This substance was replaced with a "PUBLIC NATIONAL CREDIT SYSTEM" where debt is "LEGAL TENDER" money. HJR 192 was implemented immediately. The day after President Roosevelt signed the resolution, the treasury offered the public new government securities, minus the traditional "payable in gold" clause. 192 states that one cannot demand a certain form of currency that they want to receive if it is dollar for dollar. If you review the Modern Money Mechanics article you will discover that all currency is your credit! The Federal Reserve calls it "monetized debt." 3 Quote Link to comment Share on other sites More sharing options...
one Posted November 25, 2011 Report Share If you review the Modern Money Mechanics article you will discover that all currency is your credit! Indeed. However this need not be an issue, it is simply a matter of perspective, and the subjective nature of words means that many will take this as being a bad thing. It is more division and conquer; rather than dividing you against your neighbour, it divides you and your neighbour from those in control... the end result being that you won't take it anymore at some point and will physically rebel. This is NOT the answer. Those in control are part of you too, no different from your neighbour. You are all One. Credit is merely a pledge of energy in the future. However given most monies are created against the trust of the individual receiving that money, said credit does not need to be repaid, unless someone other than yourself controls said trust and demands repayment. There is nothing wrong with not having control, the issue lies with who actually controls it instead, and their intentions. For the past few decades it has been controlled by individuals seeking to line their own pockets at the same time as "teaching us a lesson" (a harsh one!) in order to raise us all as one, however this is soon to change. 2 Quote Link to comment Share on other sites More sharing options...
Scrumdiddles Posted November 25, 2011 Report Share Drop that knowledge, ONE. +1 2 Quote Link to comment Share on other sites More sharing options...
keepmwlknfny Posted November 25, 2011 Report Share This is a great question! Can anybody here prove what backs dinar? Mineral wealth or belief..... Neither....its the foreign currency reserves that are held in the CBI.... Since the dinar is a pegged currency to the USD it has to have something backing it....there is no faith in the dinar right now in the international community so going away from a pegged currency could hurt them drastically.... They have currently about 60 billion (USD value) in their reserves....its made up of USD, the Euro and I think the Yen or something like that....cant remember exactly so you will have to excuse me on that lol but if you take that 60 trillion (total money supply of Iraq) and divide it by the exchange rate (1170) you will see that the amount they have in reserves backs the value of the dinar 110% at this moment..... That pretty much tells you that for every 1170 of dinar in the money supply is backed by 1 dollar or equal value bill.... I dont know of any country that has or is able to back the value of their currency stricktly on the fact of how much oil they have or resources availible.....otherwise I know alot of countries would have a higher valued currency....look at all the oil producing countries and see the average exchange rate....its not as high as you would think they could support based off their oil/resources 8 2 Quote Link to comment Share on other sites More sharing options...
TrinityeXchange Posted November 25, 2011 Report Share TrinityeXchange, thank you for your informative and polite response to this question. I have not seen the video, but will spend some time watching it today. Like many people here, I spend a lot of time researching but unfortunately, I don't have a background in banking, finance, Middle Eastern politics, etc. There is so much information out there. It really helps when the more informed members can point us in the right direction. You and many others do this often and quite patiently, so plus one to you. thank you canuklady. i am grateful for your words. learning this stuff is a slow process because the mentality of the student has to be destroyed so that it can be re-educated. for instance the posting of "one" is absolutely spot on but it is too much to dump on an unsuspecting individual all at once. people have to be spoon fed this information. i use to dump on people in a one hour talk session and after about 10 minutes i would watch their eyes glaze over. so take your time and review the "money as debt" video a few times until it sinks in. then move on to other resources. it will help the re-education process be a little less painful. soon you will come to an understanding and remember that i told you these things: the money of the world is fiat (decreed) there is no money all property belongs to the state because the power to "buy" has been relieved from the people all courts are "colour" courts governed by "color of law" (black's law rv 4 - the appearance or semblance, without the substance, of legal right) all deemed "law" is now "legal" as opposed to "lawful" and is a derivative of admiralty law or commercial law (ever wonder why a traffic cop requires you to sign a contract? or a judge as you "do you understand the charges"? these are contractual terms) yes many will speak about money and new monetary policy being without substance but the GREATEST matter you MUST come to understand is "HOW THIS AFFECTED THE COURTS". here is food for thought and i will leave it at this: you own a milk stand and i am a patron. we are back in time of substance money (scripts that transferred gold on demand). my gold-money bought your milk AND your milk bought my gold-money. there was fair exchange...value for value. things changed now though. what does your milk buy now when i come to your store?? my money is now a promise.. a debt instrument...a note...a message that 'one day this promises to be redeemable in substance once substance returns to monetary policy'. so you give me milk and i give you a promissory note. did we exchange value for value? NO. now the bigger question....how can the courts rightly judge if you and i have a fight over the milk you sold me? it poses a big problem because there was never any just EXCHANGE predetermined to begin with.....so the courts had to rewrite their system of law. this is evidenced in 1938 "Eerie Railroad vs Tomkins" (dont look it up yet...it will confuse you). be blessed my friend. pm me should you want additional resources. i have tons stored on my google share and have it sectioned in beginner, medium, and advanced level of studies. i will be glad to share it. 5 Quote Link to comment Share on other sites More sharing options...
physicsteach Posted November 25, 2011 Report Share The dollar has always been backed by the gold reserves that are kept at Ft. Knox. Otherwise it would be worhtless unless we had something else to back it, like oil. The Dinar is backed by the potential of all the oil in the ground. The UST keeps the dinars that are cashed in and will trade for oil or a lower oil price. There is no mystery to any of this. Anything else that is said is just convoluted logic! This is not true: or nearly a half-century the United States and the rest of the world have experienced an unprecedented continuous and severe inflation. It has dawned on an increasing number of economists that the fact that over the same half-century the world has been on an equally unprecedented fiat paper standard is no mere coincidence. Never have the world's moneys been so long cut off from their metallic roots. During the century of the gold standard from the end of the Napoleonic wars until World War I, on the other hand, prices generally fell year after year, except for such brief wartime interludes as the Civil War.[1] During wartime, the central governments engaged in massive expansion of the money supply to finance the war effort. In peacetime, on the other hand, monetary expansion was small compared to the outpouring of goods and services attendant upon rapid industrial and economic development. Prices, therefore, were normally allowed to fall. The enormous expenditures of World War I forced all the warring governments to go off the gold standard,[2] and unwillingness to return to a genuine gold standard eventually led to a radical shift to fiat paper money during the financial crisis of 1931-33. The Gold Standard: Perspectives in the Austrian School. Edited with an Introduction by Llewellyn H. Rockwell, Jr. Copyright © 1992. The Ludwig von Mises Institute. Auburn, Ala. Pp. 116-130; The Gold Standard: An Austrian Perspective. Lexington, MA: D.C. Heath, 1985, pp. 1-17; Reprinted in The Logic of Action One: Method, Money, and the Austrian School. Glos, UK: Edward Elgar Publishing Ltd., 1997, pp. 364-383. 5 Quote Link to comment Share on other sites More sharing options...
TrinityeXchange Posted November 25, 2011 Report Share and unwillingness to return to a genuine gold standard eventually led to a radical shift to fiat paper money during the financial crisis of 1931-33. nice quote pt. one thing to consider though. is it fiat that is destroying our fabric of society or FIAT AT INTEREST this is the point never addressed by politicians. if there were 3 people in the world, me - you - eddie. i am the banker. i create $40 and give $20 to you and $20 to eddie. i tell you that i am loaning you this at 10% interest. this means that you and eddie must both repay me $22. if i only created $40, where are you going to find the interest? LOL. you will have to beat eddie out of his $2 in order for you to keep your promise correct? lets say you do that. now eddie is down to $18 but owes me $22. where does he get the other $4? answer - he never will. i have created a system of perpetual servitude. and this is the problem with current monetary policy. as long as the united states government created the green back then our country prospered at an unprecedented level BECAUSE there was no interest associated with the green back. the banks of england went to war against the government to destroy the green back (money without interest) and re-institute (money at interest). and the result is world domination through perpetual debt. 3 Quote Link to comment Share on other sites More sharing options...
toric23 Posted November 25, 2011 Report Share WOW! I FEEL LIKE I JUST TOOK A CRASH COURSE ON U.S. CURRENCY 101 THANKS ALL FOR THE REALLY INFORMATIVE READ! 3 Quote Link to comment Share on other sites More sharing options...
one Posted November 25, 2011 Report Share In respect of the comments regarind fiat currency being worthless.. this is another example of divide and conquer. You're picking a side. Pick a side and you lose. The trick is to simply be aware. One could argue that the concept of value, is as subjective as anything. Accordingly, something may be of great value to one person and no value to someone else. Since in the milk-patron scenario you paint you have both accepted the offer from the other party, the answer to "did we exchange value for value" is actually Yes. The fact that the "money" is merely a promise on a piece of paper is irrelevant; the recipient only can determine what he himself values said note as and therefore in accepting it he is accepting that the exchange is value for value, as are you through your actions despite your words suggesting the contrary. Actions speak louder than words my friend - and the law recognises this. The fact that others also accept that these pieces of paper have value, is not a problem, it is a blessing. This invention effectively means that energy is being created out of nothing but promises. That energy is created as a result of the apparent value of a note which creates WILL - the will for someone to do something, be it work or creation, because they see a reward at the end. It is therefore effectively a system that allows unlimited energy, so it is a WILL-CREATION-MACHINE (lol). Without that will, there is no innovation, and less sharing due to fear, and the negative spiral continues. With regard to the courts, they are all simply administrative, and deal with whatever colour of law they are presented with - jurisdiction generally being set by actions rather than words (if it's words, these tend to create an action anyway through the filing of x form etc). They appear corrupt, however they are not in the main - this is simply how it appears when one does not comprehend what is happening correctly. If you argue a "debt" whether you view it as fictional or not, given you accepted it at the time, you are now in dishonour without the debt being paid (be that through your labour or through administrative.. which I presume you know about. There is another way. Bitterness and resentment towards the system is all that is holding the world back. The entire point of the system, is a stepping stone to something better. We've had substance backed. This creates haves and have-nots because the substances are scarce, and controlled by whomever is strongest. The fiat system attempted to address this, but due to poor use (arguably, others would say via intention, and others again would say intentionally but for the right reasons) this has made things worse. It has however opened people's eyes, and changed some attitudes, and has served as part of the learning curve. Eventually, money as a concept will be redundant due to a change in people's attitudes and wills; they will choose to help one another without force (or necessity for laws ie rules), be that force overt or implied. However, to reach this point, the current system must first be explained and used so that all can benefit. Once all are thriving, only then will people realise that they don't need the system, and all is accomplished through attitudes and will. Or not. We could just keep this tool... just remember that's all it is, a tool, not a weapon, nor a prison, unless we choose to view it that way. Currently, the world is full of wars and disagreements. Those rebelling against the system are equally culperable with those in control; it takes two to tango Those in control believe they are doing what is necessary to save the people from themselves, and therefore the more you rebel, the tighten their grip on you will become. Want freedom? Let go! The road would be a lot smoother. We will reach our destination one way or the other, but through rebellion, this journey will be painful and the destination not necessarily the one we would wish due to the control inflicted upon our minds shaping our thoughts and consequently shaping reality around us. Violence and rebellion, begets violence and rebellion by the opposing force that is always created as a resort. It is perpetual and can only be broken by one side taking the higher ground! So, back to value. It is your choice not to recognise the value, however it is this that dooms the system and could return the world to scarcity. I fully appreciate why you have made that choice, however recognising the value with full awareness of what you are doing and why would present a different choice - and the terms of the debate would no longer be controlled as they currently are. Enhance the system and enhance the world; it's only achievable through acceptance through awareness. Currently you are your own worst enemy; some would say confused since your actions do not match your words. Those in control, are effectively machines. They are blinded in their actions by their beliefs. Make some changes in your heads and see how they start to act differently all of a sudden... it's happening before our very eyes right now but most remain unable to see it. 3 Quote Link to comment Share on other sites More sharing options...
Canuklady Posted November 25, 2011 Report Share thank you canuklady. i am grateful for your words. learning this stuff is a slow process because the mentality of the student has to be destroyed so that it can be re-educated. for instance the posting of "one" is absolutely spot on but it is too much to dump on an unsuspecting individual all at once. people have to be spoon fed this information. i use to dump on people in a one hour talk session and after about 10 minutes i would watch their eyes glaze over. so take your time and review the "money as debt" video a few times until it sinks in. then move on to other resources. it will help the re-education process be a little less painful. soon you will come to an understanding and remember that i told you these things: the money of the world is fiat (decreed) there is no money all property belongs to the state because the power to "buy" has been relieved from the people all courts are "colour" courts governed by "color of law" (black's law rv 4 - the appearance or semblance, without the substance, of legal right) all deemed "law" is now "legal" as opposed to "lawful" and is a derivative of admiralty law or commercial law (ever wonder why a traffic cop requires you to sign a contract? or a judge as you "do you understand the charges"? these are contractual terms) yes many will speak about money and new monetary policy being without substance but the GREATEST matter you MUST come to understand is "HOW THIS AFFECTED THE COURTS". here is food for thought and i will leave it at this: you own a milk stand and i am a patron. we are back in time of substance money (scripts that transferred gold on demand). my gold-money bought your milk AND your milk bought my gold-money. there was fair exchange...value for value. things changed now though. what does your milk buy now when i come to your store?? my money is now a promise.. a debt instrument...a note...a message that 'one day this promises to be redeemable in substance once substance returns to monetary policy'. so you give me milk and i give you a promissory note. did we exchange value for value? NO. now the bigger question....how can the courts rightly judge if you and i have a fight over the milk you sold me? it poses a big problem because there was never any just EXCHANGE predetermined to begin with.....so the courts had to rewrite their system of law. this is evidenced in 1938 "Eerie Railroad vs Tomkins" (dont look it up yet...it will confuse you). be blessed my friend. pm me should you want additional resources. i have tons stored on my google share and have it sectioned in beginner, medium, and advanced level of studies. i will be glad to share it. Thank you, thank you, thank you! I just watched the video. Some of it I was familiar with, but it blew my mind, because of new information I learned and the broader questions it asks. Questions I personally never pondered because, since I had my kid, I am too busy, distracted, and tired to think. That's what this venture has done for me, it has me thinking and thinking globally. This came up on the perfect day, with my child hanging out with his grandparents today I actually have time to process this. I am watching the video again tonight. Then I am going to go through this thread again. I notice there's a part 2 to the video, I am going to save that for tomorrow evening. Be blessed as well. Thanks again! WOW! I FEEL LIKE I JUST TOOK A CRASH COURSE ON U.S. CURRENCY 101 THANKS ALL FOR THE REALLY INFORMATIVE READ! Agreed! Thanks to everyone who participated. One, you really dropped some knowledge! Thanks. 3 Quote Link to comment Share on other sites More sharing options...
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