Diamond News Archives

The distinguishing feature of fiat money systems is that they are licentious – they are created by corrupt politicians so that they can act without restraint by, for example, promising the citizens the Earth in order to improve their chances of being re-elected. The population can pick up the tab later in the form of devalued money that buys them less. The current dollar fiat money system was created by then President Richard Nixon in 1971, hardly an edifying character, and, thinking about it, it was very apt that it was him who created it by getting rid of the gold standard.

It is inherent in fiat money systems that they self-destruct, since they are essentially fraudulent, their modus operandi being to enable politicians to go on endless spending binges, knowing that society at large will foot the bill as a result of their money being devalued. The current fiat money system, which can be dated back to the ending of the gold standard in 1971, is 48 years old and in its death throes. What happens with fiat is that money becomes increasingly worthless at an accelerating rate until it enters the final terminal phase which is a hyperinflationary vortex that results in it becoming utterly worthless – and we are right on the doorstep of that phase now.

When the global financial crisis hit in 2008 – 2009 the world was at a crossroads – it is was the last chance to clean up the mess and get back to the straight and narrow. Cleaning up the mess would have involved letting the banks and brokerage houses that created it go bust, but those responsible for it didn’t want to “face the music” and they had the political influence to make sure they...