I won’t reveal a big secret by saying that nowadays there is no real money in the world economy, only symbolic money. And this money can only exist and only as long as the laws of the ruling elite impose it on the masses. First, we need to clarify what money is and what makes something money. Money is originally what it is, and it is because there is value behind it, that is, it represents value because people unanimously value what they see in it. Precious metals, gold and silver represented such universal values.
The paper receipts issued by the bank for gold and silver coins actually represented the value of the coins. The biggest fraud in world history grew out of this, with the establishment of central banks, which, thanks to the coercive power of the law, are not obliged to provide collateral for the banknotes they issue. Thus central banks are part of a large global criminal organization. The banknotes they issue do not represent any value, there is no collateral behind them, only the promises of politicians. These banknotes are the most effective means of plundering the masses at the hands of the ruling elite.
There are values behind what people create with their hard work. On the other hand, with unsecured banknotes, the market is deceived, and these papers, which are worthless in themselves, create an artificial demand in the market. People get an illusion in return for their hard work. In the meantime, the produced values migrate imperceptibly to those who, due to their privileged position, accumulate the most of the gambling money, i.e. to the political and economic elite. The poor are getting poorer and the rich are getting richer.
According to Murray Newton Rothbard, an American economist of the Austrian School, the inflation is the race. Those whose exploiters arrive the earliest take everything, those who are exploited the latest lose everything. And the exploited are the value creators who produce all the value in the economy, i.e. traders and entrepreneurs. But the real losers of the system are those who live on wages and salaries, as well as small pensioners who have a fixed income. The flow of values is therefore continuous towards the ruling elite, from makers towards takers.
Because the state sets the wages of its servants always arbitrary, what has nothing to do with the productivity. As result they are always well protected against the inflation, while the incomes of the ordinary wage workers on the workforce market, merchants, entrepreneurs lose the value by time and become worthless as the savings of society as well.
However, this is not all, because inflation is also a hidden tax, which brings the ruling elite benefits that they could not achieve with traditional tax increases that cause public outrage. While inflation completely destroys people’s savings and future, ruining and demoralizing society, the ruling elite will finance endless local and global wars from the produced values. People’s mentality changes dramatically, their time preference increases. Society becomes present-centered, cruel and irresponsible, people become infantilized. In this way, parents feed their children’s future, the present society destroys not only itself, but also the reserves of future generations.
Saving money is getting less and less beneficial, spending it more and more beneficial. Even the ruling propaganda encourages masses to spend more and more money that creates jobs, and of course more potential exploitable values. Hoarders are stigmatized, and outcast. In such circumstances, it becomes more and more impossible to preserve value for the future generation.
Because, as they explain, the money saved is counterproductive for the economy. Of course, they don’t talk about whether it would reduce inflation, because they have a solution for that too. Blame to traders, who incrase prices, turn the public anger against them, and loot them. The central bank responds to ever-increasing inflation by printing and issuing ever-larger denominations. Ridiculously large denominations can be printed on a banknote with a value no greater than the paper it is printed on. In practice, they imagine an amount and print it out.
I have only one question, to which the economists of the state are guaranteed not to know the answer, since no one does. How can sustainable development be imagined by pouring paper sheets into the economy that are worthless in themselves? Let’s not talk about the technical details, because there’s no any one who would be able to determine the rate of the inflation in the given economy. Whoever says else, lies. There are only estimates of the rate of inflation, which is always less than what could actually be, but more than what they dare to admit. If the rate of inflation could still theoretically, I emphasize strictly theoretically, be kept under two percent per year, which is considered low, but which will never be achieved, because it has never been done before, even then your savings would be devalued by two hundred percent in a hundred years. In practice, of course, this happens within a few years, i.e. within the foreseeable future.
Anyway, anyone can read ‘Inflation and the Fall of the Roman Empire’ presentation from Joseph R. Peden, on the Mises Institute’s website. So everyone can study who is interested in about the horror that awaits us, because no one should believe that this can be avoided. The current global monetary system is based on the same castle in the air as the monetary system of the late Roman Empire, because we have long since reached the point where there is no real money in the economy, only symbolic, i.e. counterfeit.
The only difference is that it will be a much bigger collapse, as it is global in scale and there is no country in the world that is not affected by it. Since every country uses fiat money. The history of counterfeiting is contemporaneous with the history of money. For as long as money has existed, power has tried to control it. There is nothing new in this. Today, however, we have already reached the limit of our own possibilities, now for the second time in history, that the banknotes in circulation have nothing to do with money. Of course, this cannot go on forever.
Conclusion
History repeats itself, but it wouldn’t if people learned from it, or from anything. I used to be seriously convinced that the state’s economists are idiots because they don’t see this. Now I know I was wrong, they are much worse. They clearly see that the system does not work and is not sustainable, yet they talk as if the problem does not even exist and that the monetary system can be kept stable in the long term, while it has long been proven that this is not possible in the short term either.
They are not stupid, they are evil doers who profit from misleading and ruining the masses. Call them politicians, economists, central bankers, it doesn’t matter, they have a common interest. And the ruling elite will never hesitate to sacrifice the rest of society if their survival is at the stake. The proof for this is the existence of the global monetary system based on illusion and lies.
The mass societies have eaten up the reserves of the future in such a degree during the last century, that flourishing and economic miracle are less and less imaginable. So what remains are the protracted series of interminable crises and constant ‘crisis management’, until the final collapse. It is better not to think about what comes after that, but the worst is yet to come.
Thanks for reading!