Comments by "Edward McLaughlin" (@edwardmclaughlin7935) on "Richard J Murphy"
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The Bank of England does not print money, it prints currency - fiat currency. Why is that distinction important? Because all fiat currencies are worth what their respective governments decide they are worth, and as we all know, governments always tell the truth and always act in the interests of the common populace. Fiat currencies can be and are, routinely manipulated, the usual result being to transfer the wealth of working people into the hands of others. In fact, the operation of fiat currency is a vessel ideally designed for use by those who seek to take from one pool of wealth and pour into another in a manner that is easily concealed.
Every fiat currency in history has suffered degradation in buying power due to the practice of inflation through the issuance of additional units of currency that are backed by no effort. To note just one instance, no-one had laboured to create the hundreds of billions of Pounds that were 'created' as part of the response to the lockdown catastrophe. Consequently, all the wages that have been earned since that creation have been, and remain for all time, weakened in buying power; and there is no other reason to bother getting up each morning to go and earn wages, than to gain the ability to buy things.
We happen to live at a time when our fiat currency, linked as it is to the fortunes of the dollar/debt system, is in severe decline. In fact the whole of our banking system is in a very perilous state. In this we are not alone; governments across the globe know that a new way of international trading will have to be found. In anticipation of this, some governments have, over the past few years, been busy - very quietly busy - procuring and stockpiling gold. China, Russia and India are foremost in this trend but many less powerful nations are following suit.
Why are they all failing to see the sense in Richard J Murphy's proclamation regarding the 'barbarous relic'?
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