The same mistake that of Adam Smith, Von Mises and Ayn Rand has been permitted by globalist usurers as a fallback plan in case their debt based money scheme is in danger. It is why these economists have persisted instead of being dumped by the globalist socialist who control academia.
The flaw in Adam Smith, Von Mises and Ayn Rand is that they all say that “money is a store of value” and that “intrinsic value is found in gold, silver, oil and other commodities.” If you start with a fallacy, your conclusions will be fallacious. The argument may be logical and coherent, but the results will be wrong.
Why is it wrong? Because those who control the value of these commodities are the ones who determine the price. As long as the price is determined by debt based speculation in the exchange prices of gold, silver, oil and now bitcoin, those who own the commodities or the futures are not in control of the price or value. Those who control the debt behind the commodities are. And these are controlled by the globalist usurers. They have manipulated the value of these commodities at the same time and by the same method that they use to manipulate the value of the currency — by increasing or decreasing the margin (to purchase commodities) or reserve rate (for lending the same money as many times as they desire) or “capitalization” (the reserve rate for the existence of all banks).
The fallacy is that “money is a store of value.” It is not. The fair exchange of values is the basis for just transactions. As long as money is placed as an intermediary, banks, and bankers are placed as an intermediary. And private bankers have known and used this scam of “money is a store of value” since before the Roman empire. And it still, to my astonishment, works to fool 95% of the “educated” people, who are in fact driven by greed instead of value and values. These are the hoarders of oil, gold, silver, bitcoin, or whatever “value based currency” they imagine.
The fact is that “value based currency” will never happen as long as someone else is in control of the value. And regardless of the complicated algorithm from which the bitcoin is built, it can be controlled by the global usurers, and the proof is that bitcoin is now being traded on monetary exchanges, and they use margin to trade it. The only value a productive person can control is the worth of the product or service that he invents, produces, makes, and sells.
The true value of money is found in law and acceptance. In law because the currency must be emitted and 100% backed by all the resources of the issuing country. In acceptance because people must agree to accept it, voluntarily, in exchange for another item or service of equal value.
Do not perpetuate the myth that there are easy solutions to get rid of debt based money, or you will find yourself indirectly controlled by the same issuers of debt based money.
Tags: Banking fraud money
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