Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
JOHNSON & JOHNSON (JNJ) Big Pharama AI Mega-trend Investing 2020 - 25th Jan 20
Experts See Opportunity in Ratios of Gold to Silver and Platinum - 25th Jan 20
Gold/Silver Ratio, SPX, Yield Curve and a Story to Tell - 25th Jan 20
Germany Starts War on Gold  - 25th Jan 20
Gold Mining Stocks Valuations - 25th Jan 20
Three Upside and One Downside Risk for Gold - 25th Jan 20
A Lesson About Gold – How Bullish Can It Be? - 24th Jan 20
Stock Market January 2018 Repeats in 2020 – Yikes! - 24th Jan 20
Gold Report from the Two Besieged Cities - 24th Jan 20
Stock Market Elliott Waves Trend Forecast 2020 - Video - 24th Jan 20
AMD Multi-cores vs INTEL Turbo Cores - Best Gaming CPUs 2020 - 3900x, 3950x, 9900K, or 9900KS - 24th Jan 20
Choosing the Best Garage Floor Containment Mats - 23rd Jan 20
Understanding the Benefits of Cannabis Tea - 23rd Jan 20
The Next Catalyst for Gold - 23rd Jan 20
5 Cyber-security considerations for 2020 - 23rd Jan 20
Car insurance: what the latest modifications could mean for your premiums - 23rd Jan 20
Junior Gold Mining Stocks Setting Up For Another Rally - 22nd Jan 20
Debt the Only 'Bubble' That Counts, Buy Gold and Silver! - 22nd Jan 20
AMAZON (AMZN) - Primary AI Tech Stock Investing 2020 and Beyond - Video - 21st Jan 20
What Do Fresh U.S. Economic Reports Imply for Gold? - 21st Jan 20
Corporate Earnings Setup Rally To Stock Market Peak - 21st Jan 20
Gold Price Trend Forecast 2020 - Part1 - 21st Jan 20
How to Write a Good Finance College Essay  - 21st Jan 20
Risks to Global Economy is Balanced: Stock Market upside limited short term - 20th Jan 20
How Digital Technology is Changing the Sports Betting Industry - 20th Jan 20
Is CEOs Reputation Management Essential? All You Must Know - 20th Jan 20
APPLE (AAPL) AI Tech Stocks Investing 2020 - 20th Jan 20
FOMO or FOPA or Au? - 20th Jan 20
Stock Market SP500 Kitchin Cycle Review - 20th Jan 20
Why Intel i7-4790k Devils Canyon CPU is STILL GOOD in 2020! - 20th Jan 20
Stock Market Final Thrust Review - 19th Jan 20
Gold Trade Usage & Price Effect - 19th Jan 20
Stock Market Trend Forecast 2020 - Trend Analysis - Video - 19th Jan 20
Stock Trade-of-the-Week: Dorchester Minerals (DMLP) - 19th Jan 20
INTEL (INTC) Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 18th Jan 20
Gold Stocks Wavering - 18th Jan 20
Best Amazon iPhone Case Fits 6s, 7, 8 by Toovren Review - 18th Jan 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

The Federal Reserve Note is Dead, Long Live the U.S. Dollar

Currencies / US Dollar Apr 26, 2011 - 05:58 AM GMT

By: Jeff_Berwick

Currencies

Best Financial Markets Analysis ArticleIn 1520, Count Hieronymus Schlick of Bohemia began minting silver coins known as Joachimsthalers, named for Joachimstal (today called Jáchymov in the Czech Republic), where the silver was mined.  In German, thal or tal refers to a valley or dale.  Therefore, translated, the coins meant "Jachymov Valley".  His  "Joachimsthaler" was later shortened in common usage to taler or thaler and this shortened word eventually found its way into English as dollar.


The coins minted at Joachimsthal soon lent their name to other coins of similar size and weight from other places. The Dutch lion dollar, carried by Dutch traders was popular in the Dutch East Indies as well as in the Dutch New Netherland Colony (New York) and the Thirteen Colonies as well as circulating throughout the Middle East in the 17th and 18th centuries.

By the mid-18th century, the lion dollar had been replaced by the Spanish "pieces of eight" which were distributed widely in the Spanish colonies in the New World and in the Philippines.  Pieces of eight (so-called because they were worth eight "reals" - eight reals = 1 silver peso) became known as Spanish dollars in the English-speaking world because of their similarity in size and weight to the earlier Thaler coins.

The Americans took the dollar sign ($) from the pieces of eight, as well (see image here).  There is no agreed upon date or place from whence the dollar sign came but the most commonly held theory is that it derives from the Spanish coat of arms engraved on the Spanish colonial silver coins, the "Real de a ocho" or Spanish dollars that were in circulation in the Spanish colonies in America and Asia. The Spanish dollars were also legal tender in the English colonies in North America, which later became part of the U.S. and Canada.

US Gold Certificate

US dollars were backed by gold and known as gold certificates from 1882-1933.  Dollars backed by silver lasted longer, known as silver certificates, and were in circulation from 1878 to 1964.

However, both have been usurped by the Federal Reserve Note.  A completely fiat, non-free market currency.  A currency in which, “This Note is Legal Tender for All Debts, Public and Private” needs to be inscribed and backed up by the full force of the government’s guns in order to make it a currency used in regular life.

Also printed on each Federal Reserve Note is a pyramid with the Eye of Providence (a Freemasonry symbol) on it.  Odd, one might think, considering the US has no connection to pyramids built around the world – the closest built inside the US are the Mississippian Platform Mounds.  As well, no one seems to question why “Novus ordo seclorum” is written below it.  Novus ordo seclorum translates to “a new order of the ages”.

Backside of US $1 Bill

This new order, the one that has made possible every major war since the founding of the Federal Reserve, impoverished countless millions and destroyed untold wealth, is coming to an end.  The Federal Reserve Note will be lucky to survive past the 100th birthday of the Federal Reserve Act, on December 23, 2013. Thank god.

The Federal Reserve Note is dead.  Long live the dollar.

See the following video for a witty look at the ridiculousness of Federal Reserve Notes:

The Dollar Vigilante is a free-market financial newsletter focused on covering all aspects of the ongoing financial collapse. The newsletter has news, information and analysis on investments for safety and for profit during the collapse including investments in gold, silver, energy and agriculture commodities and publicly traded stocks. As well, the newsletter covers other aspects including expatriation, both financially and physically and news and info on health, safety and other ways to survive the coming collapse of the US Dollar safely and comfortably. The Dollar Vigilante offers a free newsletter at DollarVigilante.com.

© 2011 Copyright Jeff Berwick - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules