It has been an interesting Sunday for me. Some weeks ago the following was sent to me by its author. It was written by him some years ago – 2017, but unbeknownst to me, I was about to meet him – this morning – for breakfast. The interesting thing was, when we made arrangements to meet – I did not know who I was about to meet for breakfast – other than the fact that he was a listener to my daily broadcast, “The Edge of Darkness“. It was during our several hour meeting that I finally discovered who I was eating with. It has been an interesting day… Thank you Robert – and Keep on Truckin’! ~ Editor
During the Second World War, when our European allies were unsure if the Allies would be able to stop Hitler, many of them sent their gold to the United States for safe keeping. It’s important to understand why gold has been used as a way to store wealth.
Gold is a base metal; it cannot be made by combining other elements. It’s rare, it takes a lot of work to find, mine, and refine it. It doesn’t corrode; you can store it for a long time without any upkeep. But it’s heavy and inconvenient to move around.
WWII turned the United States into a manufacturing powerhouse; our factories never got bombed and our agriculture produced more than we consumed so we became the world’s top producer. In 1944, the Allied Nations signed the Bretton Woods Agreement that said they would conduct all trade between their nations in U.S. dollars, and that dollars could be converted back to gold at the rate of $35 per ounce. The reason to peg the value of the dollar to gold was to keep the U.S. from printing too many of them. The problem? The population and economy grew faster than the rate of new gold being mined. Today, gold is trading for around $1,300 an ounce.
In 1971, Richard Nixon took us off the gold standard. The French had figured out that the U.S. was spending too much on the Viet Nam War and that we were paying for the war by printing excess dollars, and thus asked to redeem their dollar holdings for gold. Deals had to be made to maintain the dollar as the world reserve currency. One of those deals was that oil would only be sold in dollars; all other countries had to convert their currency to dollars to buy oil.
Christians might want to consider the only time in the Bible when Jesus got mad, and how long after that event before he got nailed to the cross. The moneychangers don’t like anyone messing around with their gig.
Before the U.S. dollar, the British pound sterling was the world reserve currency and it was said, “The sun never sets on the British Empire.” Like all other empires, such as Rome or The Soviet Union, they all collapsed when their leaders turned to military adventurism and lost their focus on the productivity and wellbeing of their people. Just like it takes lots of hard work to find, mine, and refine gold, true wealth is the result of productivity.
It’s interesting to note Hitler made the cover of Time Magazine’s man of the year for ending the German depression and turning its economy around by pegging its currency to one hour of labor.
In the Guinness Book of World Records, the biggest heist of all time is what happened to the Nazi’s loot. When the Allies rolled into Germany, everything the Nazis had plundered was gone. Well, that record is probably being broken right under our nose. The moneychangers are getting ready to move to their next host, and they’re taking the loot with them. The loot is everything they have acquired with the currency they have created out of thin air in excess of the rate of actual production. Their goal is to end up with a global economic reset, where we the people of the world end up debt slaves to the wealthy.
Everything you see on the news that doesn’t make any sense (fake news), is being done on purpose, it’s a distraction. It’s called a strategy of heightened tension. It’s meant to keep us fighting with each other while they get ready for their next big move. What will it be; when will it happen? I don’t know if anyone who knows for sure. But it seems like we’re getting close; like giving birth, the contractions are coming closer together.
Recently Winona State University hosted a town hall meeting with Minneapolis Federal Reserve President Neel Kashkari. He was asked if the Fed anticipated what the next big crash (like the tech or housing bubble) would be. He answered, “We have all kinds of experts looking, but the problem is, we never see it coming.”
Many of the people that I follow refer to this as a “Black Swan Event,” no one has ever seen a black swan but are sure they could identify it if one showed up.
I’m on board with a few who have a theory of what this next event will be, the unseating of the U.S. dollar as the world reserve currency. The U.S. continues to print dollars in excess of our productivity to continue to fund these wars. They also use these excess dollars to buy real assets, (which could help explain the highs in the stock market).
Around the world other countries are angry that they are being overrun by invading refugees. The refugees are angry that their home countries have been bombed into Third World hellholes. In the meantime, China has replaced the U.S. as lead manufacturer of export goods. And now they have set their goal of replacing the U.S. dollar as world reserve currency. China has introduced a gold backed petro-yuan; they are also making deals with Russia and Saudi Arabia to buy their oil with the new petro-yuan.
Also interesting to note is that the last two countries to try and sell their oil for anything other than U.S. dollars were Iraq and Libya. We are living in interesting times.
Robert Ossell
December 18, 2017
