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Gold Report

Gold Report

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Published by hilmias13

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Published by: hilmias13 on Dec 23, 2008
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The 7 Critical Facts YouNeed ToKnowBefore The Coming Global Financial Crash
Written by David MacGregor This eReport is Brought to YoubyAlinVVisit My Web Site
All Rights Reserved - Copyright 2007
Page 1
We live in a time of significant geopolitical seismic
. Everything is changing. Troubleis, from our personal constrained viewpoint, such shifts can be hard to detect - especiallyin the time scale of our own relatively short lives.We also live within a paradigm of the “given” - accepting as reality that which we are usedto, that which we have grown up with, and that which we have been taught - by parents,school teachers, churches, the media and the government.We are prisoners of the “now” - and feel ourselves not beholden to
or the lessonsto be learned from it. We live our lives in the mistaken sense that those before us weresomehow different from us - less educated, less intelligent, less advanced - and consider ourselves somehow superior.But the truth is human nature has
changed, and does not change. And the experi-ences of those before us - in life, love, happiness, sadness, war, peace and death - are just as valid today as they were back then.Sure, we are more technologically advanced, but at a more fundamental level - in our morality,our passions, our thinking - we have not advanced at all. And because of that, weare prone to fall into the same traps and make the same mistakes as those who’ve gonebefore us. And contrary to accepted wisdom, it appears we
learn the lessons of his-tory - but are destined to re-live them over and over.One such lesson is the subject of this special report - the truth about
fiat money
and why
is the only
money available to us today.I have identified
seven critical facts
you need to know and understand - in order that youcan be fully prepared for what must come to pass. Fortunes will be made and lost in the fi-nancial and economic turmoil ahead. And by being informed and prepared, you can be a
rather than a loser.
Page 2
Fact 1. The Fiat Money Fraud
First I should define the term "fiat". From dictionary.comcomes the following definition:
1. An arbitrary order or decree2. Authorisation or sanction: government fiatSo, fiat money is that which is
to be money by the arbitrary order or decree ofgovernment. Government fiat money is the end result of an evolution of money as weknow it. And it can be summarised briefly as follows:Historically,various commodities have functioned as money - that is, as a means of
. Some of these commodities have included unique items of special value to cer-tain cultures and conditions, like salt or tobacco. However, historically,only two commodi-ties stand out as having passed the test of time -
. The reason is quite sim-ple. Both of these metals have a long history of being accepted as a store of value (due totheir inherent physical properties) and cannot be counterfeited or manufactured at will. Sothroughout history gold and silver have functioned as
.As commerce became more sophisticated, various means of dealing with gold came intobeing. One such way was to pass on gold
as negotiable financial instruments.The process was simple. Youstored your gold with a goldsmith, who issued you with a re-ceipt for the same. Now you could pass on that receipt to another - who now had the claimto your gold.In this way gold became the
backing for such receipts - allowing for the easycarrying and transferring of value - i.e. the value of gold as determined by the receipts. Ofcourse, gold coins were also common - like the cash of today.This process of privately is-suing gold receipts became the basis for what is known today as 'banking'. A bank becamea repository for gold and issued bank notes which were
in gold.In the "good old days" a bank note was a
to pay - a promise to pay a certainamount of gold (or silver) on demand. And we are reminded of that historical fact when wehear or use the term “pound sterling”, when referring to the UK unit of currency - thepound. As you can easily guess, it originally referred to the pound
- one poundTowerweight of silver - sterling silver.Todaywe still have bank notes - but they are mostly issued by the state or state-mandatedcentral banks, and they have no redeemable value, other than in exchange for anothersimilar bank note.
Page 3

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