I recently coined the acronym DAFFYS, to describe the majority of Americans. DAFFYS stands for Deluded American Fiat-Fooled Yellen-era Serfs.
Most Americans are under the foolish delusion that they have “money” in their bank accounts. But it is not true money (gold or silver “dollars” as defined in the Coinage Acts of 1792 and 1834). Instead, much like the folding paper currency, those accounting entry digits represent “Federal Reserve Notes” (FRNs), with no intrinsic value. FRNs are issued “at will” (by fiat) by the Federal Reserve cartel. They are created out of thin air, through the process of fractional reserve banking. Created out of nothing, they are also redeemable only for nothing – just other FRNs, in different forms, including debased (clad) coinage. Starting in 1965, FRNs became non-redeedmable. The 90% silver coins minted up until 1964 were quickly swept out of circulation by the public and tucked away, for family safekeeping. There were 40% silver half dollars for a few more years, but those too soon vanished from circulation. People realized what was going on, and they pounced on that real money. So many folks were stockpiling silver coins that there was a coin shortage for several years. Eventually, the U.S. Mint caught up, producing nearly worthless silver-plated copper slugs, to circulate ersatz dimes, quarters, and half-dollars.
We’re Being Robbed
As the money supply increases, wages go up. Your average dimwitted DAFFYS see “more money” in their wallets, and hence they feel like they are getting ahead. But they are not when inflation outpaces wage increases. And generally, sadly, that is the case. So DAFFYS might feel richer, but they are actually getting poorer.
We are being systematically robbed two ways, every year:
1.) A tax rate that averages no less than 30% combined, at local, state, and federal levels.
2.) A currency inflation rate that now exceeds 12%. (The much lower “official” rate is a lie, because it excludes food and fuel price increases.)Continue reading“Deluded American Fiat-Fooled Yellen-Era Serfs”
