Yep. We've been getting screwed on a regular basis for a very long time. And
that news isn't the
worst of it.
Until Franklin Roosevelt took office, the dollar was always backed by gold, and was defined as being 1/20th of an ounce (0.05 oz.) of gold. In 1933, Roosevelt arbitrarily declared the dollar to be only worth 1/35th of an ounce (0.0286 oz.) of gold, cutting it's value nearly in half at the stroke of a pen. Of course, he also arbitrarily (and illegally) declared it unlawful for Americans to own gold and made them turn any privately owned gold over to the government, so only foreigners could actually exchange dollars for gold.
Nixon restored Americans' right to privately own gold, but he also removed the dollar from its final ties to gold in 1971, and since then it has been backed by
absolutely nothing. Tonight's gold price is $591.10 (as of 7:53 PM EDT), which means the dollar tonight is only worth 0.00169 oz. of gold. That's only
3.38% of the value it had 64 years ago, in 1932!
Date(s) | Oz. of Gold per dollar |
1789-1932 => | 0.05 oz. |
1933-1971 => | 0.0286 oz. |
10/25/2006 7:53 PM => | 0.00169 oz. |
Democrats and Republicans are both equally to blame for this outright theft of
our assets. Voting for either party is an act of treason against your fellow Americans.
Here's yet one more item to think about. Quick show of hands - how many of you know that the Federal Reserve System is a
privately owned banking corporation, and
not a government agency? (You'll learn about that and a lot more in the
America: From Freedom to Fascism video.)