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WHAT'S AN FRN WORTH IF NO ONE WANTS IT?
Posted 2/28/2012 4:09:00 PM

From Reuters courtesty of Yahoo news:

Iran to accept payment in gold from trading partners

And the money quote is, ...central bank governor Mahmoud Bahmani was quoted as saying. "If a country should so choose, it can pay in gold and we would accept that without any reservation."

Alan Greenspan on Gold from 1966 - Before he was bought off by the central banking cabal:

This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard...

What can this imply for Iran? Well, Saddam was selling his crude oil in Euro's during the oil for food debacle. Uncle Sam could not have been happy about that as the monetary unit of the world is the Federal Reserve Note (FRN) - the dollar. Some believe Saddam had to be removed because he was an existential threat to the USA, not because of the trumped-up weapons of mass destruction - but because he dared to sell oil in a currency other than the US dollar. More recently, there was a bad guy in Libya who posed a genocidal threat to his people and had to be put down. Was he a threat to the USA? You better believe it! It has been said that Q'Daffy (sic) decided to sell his oil for... gold. He dared to want to sell his oil in a real currency instead of the make believe FRN. Now we have Iran who has already set up an oil stock exchange to sell its oil in currencies other than the FRN. This could be tragic news for the Irainian people. How dare they feel they have the right to self-determination and sell oil to whomever they want and for any currency the wish to sell it for.

Back to Al Greenspan’s quote: “. Deficit spending is simply a scheme for the confiscation of wealth.” It is impossible to defecit spend if a nation is not on the gold standard or a 100% reserve requirement for demand deposits held by banks (and a treasury that abides by property rights).

You see, the whole propaganda spin being spun to us, the sheeple of the USA, is that unless we invade the Middle East (Iran) and bring “democracy” to their beautiful sandy nations we are in danger of wmd annihilation. Well the wmd is really the FRN and if Iran and other nations decide to end using the ‘world’s reserve currency’ what will happen? Quite simply, the US economy will end in ways hard to imagine. The US dollar will become even more worthless as it won’t be able to buy a barrel of oil in the market place.

To this I thank Alan Greenspan and Ben Bernanke and all the other central bankers of the world. Thanks for lying to us you lying liars. Al spoke the truth back in the 1960’s but he is mum now. If we cannot trust a cabal of insiders who have the power to issue fiat currency at will without the authority of CONgress, what are we to do?

Don’t vote for a lying liar who lies to you every day on how they will fix everything. Listen to what they say and if sounds too good to be true, well then it is. Don’t hang your hat on the guy who was one thing yesterday but something new today so that he can be all things for all people.

I don’t like 0bamao any more than the next guy, but he is not the originator of our problems. Perhaps he will be the ender and it won’t end well.

Posted By: Paul Stark  

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