When 60 Minutes on CBS made the very first interview of the Federal Reserve System with its questioning of Ben Bernanke a little over a year ago, the most pertinent question was “how do you increase the money supply?”\u00a0 Of course, I suspected that Mr. Bernanke would give a long, complicated, reasoned reply, but his poignant reply was “we make an entry on a computer.”<\/p>\n
The truth is that there is nothing backing the US dollar but the faith in its worth by the American public … nothing else … no gold, no silver, no commodity or other backing of any kind.\u00a0 The German experience in 1923 with this practice resulted in mark notes that were literally worth less than the ink used to print them … they actually put a trillion mark note into circulation.\u00a0 And our government has continually devalued the purchasing power of our dollar by debasing its worth by electronically infusing more and more worthless dollars into the supply of money available, a practice that began with the “New Deal” in 1933.\u00a0 The minions of the Fed do not dare tell us that they are stealing our purchasing power and savings by debasing the dollar, so they use euphemisms like “Quantitative Easing.”\u00a0 Check out the site below for good explanation of what is happening…<\/p>\n
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