Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24
US House Prices Trend Forecast 2024 to 2026 - 11th Oct 24
US Housing Market Analysis - Immigration Drives House Prices Higher - 30th Sep 24
Stock Market October Correction - 30th Sep 24
The Folly of Tariffs and Trade Wars - 30th Sep 24
Gold: 5 principles to help you stay ahead of price turns - 30th Sep 24
The Everything Rally will Spark multi year Bull Market - 30th Sep 24
US FIXED MORTGAGES LIMITING SUPPLY - 23rd Sep 24
US Housing Market Free Equity - 23rd Sep 24
US Rate Cut FOMO In Stock Market Correction Window - 22nd Sep 24
US State Demographics - 22nd Sep 24
Gold and Silver Shine as the Fed Cuts Rates: What’s Next? - 22nd Sep 24
Stock Market Sentiment Speaks:Nothing Can Topple This Market - 22nd Sep 24
US Population Growth Rate - 17th Sep 24
Are Stocks Overheating? - 17th Sep 24
Sentiment Speaks: Silver Is At A Major Turning Point - 17th Sep 24
If The Stock Market Turn Quickly, How Bad Can Things Get? - 17th Sep 24
IMMIGRATION DRIVES HOUSE PRICES HIGHER - 12th Sep 24
Global Debt Bubble - 12th Sep 24
Gold’s Outlook CPI Data - 12th Sep 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

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.


© 2005-2022 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