He doesn’t feel that digital currencies are a better alternative than gold and silver. He thinks the banks and governments will try to control it. However, the focus should be less on making money with them and more about replacing the existing system. Overall he likes the characteristics of cryptocurrencies, the privacy, the limited supply, and how you can conduct transactions yourself. He thinks the system is likely to be replaced by one more oppressive. He discusses how the existing system is close to failure and can’t continue much longer it’s a worldwide problem. If you hold something with intrinsic value, your wealth is far more protected than being just in dollars. The banks excessive printing has resulted in the dollar being only worth two cents compared to 1913. When the Federal Reserve Act was created in 1913, it essentially legalized a predatory system of counterfeiting. Therefore they dislike gold and silver since they are finite. In 1910 a group of wealthy bankers and industrialists met and formulated a plan to take over the money system.īanks like to loan out a lot of money, the best way to do that is when the supply is unrestricted, and they control that supply. Jekyll Island is a real place, off the coast of Georgia, it marks the formation of the Federal Reserve System. Griffin discusses his book, The Creature from Jekyll Island.
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