Special Post by – Brett Buchanan, CEO and Editor of Virable
So there I was, sitting patiently reading a financial magazine in the waiting room to Hell. Seated next to me was Lord Astoroth, banker to the Great Deceiver himself. I was bored so I decided to chat up old Astoroth to get his take on our nation’s downward spiral into the void of immorality. And to get his opinion on gas prices.
“So what do you make of all these consumer prices that are bleeding Americans dry?” I asked the distinguished looking gentleman.
“It’s your money,” Astoroth replied without as much as a glance my way.
“Come again?” I responded.
“It’s your money,” Astoroth repeated. “Your own people betrayed you.”
“How is that?” I replied.
Astaroth had my attention. He was quite beguiling what with his five thousand dollar tailored suit and new iPhone that hadn’t even been released yet. I mean, when you’re the Devil’s banker you obviously know people – but an unreleased iPhone. I was impressed.
“On earth, the power to create money is the greatest power of all,” Astoroth said. “And the power to create fiat money with no tether to your precious gold, well, that is my employer’s recipe for absolute immorality.”
“So that’s a good thing for you and your employer?” I replied.
“We’ve collapsed entire societies on the basis of hollow money alone,” Astoroth answered with a sly grin.
“Man, you guys are cool,” I said like a dough-eyed schoolboy. “So can I be a banker too? Is there like a class I take in Hell or do I just have to sign one of those soul contracts down at the Crossroads?”
“Sorry,” Astoroth replied. “We licensed those rights to Harvard Business School. I barely got in the program myself.”
“Damn,” I said. “How ’bout that unreleased iPhone – can I get me one of those?”
“No,” Astoroth replied. “I stole this from Steve Jobs when he was on his way into the light.”
“So Jobs is in heaven?” I asked.
“Who do you think runs the place now?” Astoroth responded. “Geez, do I have to explain everything to you?”
And suddenly, the world made sense. I knew why things were the way they were. I knew that Astoroth’s employer was none other than Ben Bernanke, Chair Satan of the Federal Reserve. I knew how when our government and the Fed bailed out those blood-sucking banks with trillions of dollars that in reality there was a hidden tax, called inflation, that would only show up some time later at the gas pump and on the price tags of bread and orange juice.
The only real money on earth is gold. Paper money created by fiat is not real. And fiat money backed by the promise of debt repaid at interest is an escalating Ponzi scheme requiring a perpetual expansion of the monetary base to satisfy the interest paid on previously issued money.
Fiat money is like a flesh eating virus that will consume its host until the host is a mere carcass and succumbs to its ultimate death. That host is you. More explicitly, debt-based fiat money is a claim on your future income. For every dollar the Federal Reserve prints by fiat, a process known as inflation, they are in reality taxing your future, and the future of your children, and your children’s children.
And who do you think all that interest goes to? Or the fees generated by the purveyors of government debt – the primary dealer network consisting of the largest investment banks in the world? Not a dime of it goes back to the American people. As a matter of fact, it’s the opposite. We pay, and pay, and pay, and wonder why we can never get ahead.
The issuers of fiat money derive it greatest benefit. The investment banks that sit atop the distribution network of fiat money enrich themselves by the day, while we grow poorer by virtue of the continually devalued labor we must expend to obtain it.
Why this country has not risen up in mass revolt I cannot explain. The Occupy Wall Street movement is a decent start. But aside from the occasional salacious headline until the average housewife gets off her Pinterest ass and out in the street wielding ‘Abolish The Fed’ placards all day long then this whole thing is just academic.
The fiat money train will just keep rollin’ down the tracks without a brakeman until it finally slams into the station killing everyone inside. Terrorism will take on a whole new meaning that day. The terrorist training camps will be found at places like Harvard’s Weld Hall and the master-cell in the proprietary trading room at Goldman Sachs.
But for now, the Fed has staved off collapse. The stock market has inflated its way back from the brink of the abyss with absolutely no support from expanding jobs. That fact alone should be setting off alarm bells in boardrooms across America. But who listens to me? I’m just the guy who met the Devil’s banker this morning in the waiting room to Hell.