Segment 1: Why is Money Made of Paper?Segment begins at 00:45
- China was the first country in history to adopt paper money
- The Nixon shock of 1971 came when he took the U.S. dollar off of the gold standard
- It’s easier to carry around paper than it is to carry coins, especially if you have a lot of them
- Every U.S. dollar is actually a ‘Federal Reserve Note’ or a loan by the Fed which must be paid back with interest
- Paper currency is issued by ‘fiat‘ or government decree
- So why is paper money usable if it has no intrinsic value?
- Our debt-based monetary system will ultimately fail because it’s unsustainable
- The fact that we have ‘fake’ money shouldn’t surprise us in this ‘fake’ world
- Three important economic red flags
- Let us teach you how to buck the trend and think outside the box before America’s inevitable day of reckoning
Segment 2: The Final WordSegment begins at 30:30
Jerry closes out today’s show with an immutable warning from the Bible about how God views fiat currency.