The absurdity of using the US dollar as the worlds reserve currency should not underestimated. The removal of gold in favour of the US dollar in 1971 as the check and balance of the worlds financial system has enabled the US (and the world) to create money out of thin air for nearly 40 years. The consequences were clear. As long as currencies remain relative to one another all governments were empowered to spend with reckless abandon, without need for old fashioned ideas such as raising taxes or balancing budgets. Developing nations loved this cycle because the increased deficit spending and access to consumer credit created demand for their export products. Developed nations liked it because they avoided the nasty boom bust cycles had access to cheap imported goods. Consumers loved it because stock prices moved higher and the humble home became a money tree with an ATM attached. Of course the US benefited most. For the selfless act of becoming the worlds monetary system anchor the US was able to build the greatest empire in history. With access to money without limit the US has funded global military activities and created dominant multinational corporations in food, health, banking, energy and all across the industrial complex. American consumers have also greatly benefited by achieving standards of living well beyond what would have ever been possible pre 1971. Bigger houses, more cars, better holidays, larger stock portfolios and of course bigger wastelines.

We are now seeing the terminal phase of this 39 year monetary experiment. Housing market crash, global financial crisis, increasing geopolitical tensions, faltering economic prosperity, currency volatility, banking crises, sovereign debt defaults, rising unemployment, rising grocery bills. Soon we will add food and fuel shortages to this mix. The great unwind of this 39 year imperialist monetary system will likely be replaced by an even bigger regime, run by the world banking elite. As the US gets deeper and deeper into trouble it is very likely that those with global aspirations will quickly try and convince us that if all problems are global in dimension not a leap of logic to demand global solutions. Yes that makes sense, fix a ponzi monetary system with an even bigger ponzi scheme.

In the following videos Glenn Beck from Fox News discusses two important issues. First the consequences of the shift from a gold standard and secondly the likely replacement of the US dollar with some sort of global currency as the monetary reserve. Given the consequences of 40 years of the US dollar as reserve currency what might be the scenario if we allow a group of banking elites (not even elected politicians) control the worlds currency. Our sovereignty has been diminished through US imperialism. We cannot allow and even bigger imperialist regime of banking elites to further erode national sovereignty. It's time bypass the banksters, regain our sovereignty and move to the one currency that has been money for 5000 years and cannot be created out of thin air like paper or digital money, gold. It's time to return to a gold standard.

Part 1

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Part 2

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