failure of money you might want to write this down the failure of money since the end of the gold standard in 1971 by the way the reason that I have this gold 100 bill is because it's an oxymoron fiat currency is no longer backed by gold so having a gold fiat currency on my desk is an oxymoron it reminds me to laugh at this every single day every day I come to my office I look at this gold fiat currency and I laugh at it because it is not even close to that anymore since the gold standard in 1971 the US dollar has lost 80 percent of its purchasing power due to the uninhibited money creation of the Federal Reserve Calvin break it down for me fiat currency is a system which is a currency only retaining its value by Fiat or a promise a decree by the government this is just a promissory note that's all it is leaves a central bank free to create money from thin air reducing the value of the currency already in circulation stupid texts listen they can create money from thin air you don't believe me look what happened when c19 came around in 2020 of March and crashed the markets when Kobe crashed the markets the government came in and said oh we got to help people and they put trillions of dollars in the marketplace in the sum of uh I mean in the stimulation packages and in PPP loans where did they get the money from they just printed it out of thin air they literally have one node not a not several nodes like on crypto and blockchain they have one node that is controlled by a group of individuals and they just go to the node on the computer and they say you want to put some money in the economy to stimulate it what are we gonna call it call it a stimulus pack of don't try to get all fancy with it just call the stimulus back how much do we get put in there eight to twelve okay cool and they hit enter and then the money is in the system and then to help you out they go and they print it so that you can say oh I got some money it's one note in Washington did you know that by the way it's one note not a lot of not a lot of them so it's just a fiat currency that is going to absolutely crash Calvin you don't know that oh yes
