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Gold to Fiat

posted Feb 28, 2012, 2:05 PM by Rishi Gangoly   [ updated Feb 28, 2012, 2:05 PM ]
I would like to ask, If we have switched from an earlier version of creating money based on gold reserve to a fractional/proportional reserve system, then what is the role of USA in this change?

Answers


The role essentially is of a handful of private bankers who created the Federal Reserve Act, pushed it through Congress and got it passed, thereby replacing the gold standard by fiat money. (This is not too different from how they managed to get the Homeland Security Act passed too.) 

As for US role in India, we cannot comment on the exact connections, but considering you can bring all of the world's wealth down to a handful of elite owners, it is possible that this was another control game played by the elite to control the world's wealth and therefore its people. 

Perhaps if you look into the history of the wars of the past century, the subsequent enactment of post-war policies, the interests that could/would have benefited from such policies, as well as the exit strategies of the British from India, a pattern might emerge that would explain the foreign role in the way our money system works today.