“We should do well to remember that, since time immemorial, gold has successfully acted as the ultimate extinguisher of debt — until it was forcibly removed from the international monetary system in 1971. Since 1971 governments have pretended that paying debt in U.S. dollars extinguished it, too. But in fact it did not. Debt was merely transferred from the debtor to the U.S. government and kept accumulating. Debt accumulation has a natural limit. This limit has now been reached.” – Dr. Antal Fekete, What You Always Wanted to Know About Gold
Jim’s Quote of the Day:
