America’s debased/deceptive ‘dollar’! Let’s think!
The American word (‘dollar’) did not exist prior to our Constitution of 1787. The official unit was created from the mind of (mostly Thomas Jefferson) back in 1785 and then made official by our first Congress. In 1792, the name ‘dollar’ was defined and given its first meaning. The definition chosen was 371.25 grains of pure silver (derived from an assay of the Spanish silver coin which many early American’s perceived as having trade ‘value’). The meaning of our ‘dollar’ has changed numerous times throughout our 228 year history. Let’s review these changes to discern why our current ‘cyber’ dollar is mostly corrupted and dysfunctional going forward! Let’s think of the following evolutionary steps:
We start economics and money within a Barter marketplace. Barter is where economics begins. When we barter and exchange goods we encounter the concept of ‘value’. What is the ‘value’ of the items being exchanged becomes a problem/issue. This concept of ‘value’ is foundational to economics and money. Since the concept of ‘value’ is subjective and inner, we need to choose some substance (thing) which can act as a proxy for ‘value’. What might this be is invented within the free marketplace.
The first proxy for ‘value’ for our American economic system was physical Silver. Silver was chosen by the people in our marketplace because it was desired as our proxy for ‘value’. People freely chose this proxy for ‘value’ as their best option (at the time). Our Congress then ‘defined’ our first currency unit (dollar) in terms of silver. The definition was 371.25 grains of silver. A coin was then created by our first mint in Philadelphia to represent the ‘name’ we call Dollar. This was our Dollar-1.
In time, our Congress allowed paper notes (backed and convertible into silver at the defined weight) to circulate in addition to silver coins. These bank notes were called silver certificates. Since silver and gold were viewed as precious metals with ‘value’, gold was also coined and used as a proxy for ‘value’ by Americans. Paper notes backed/convertible (100%) into either silver or gold were viewed by Americans as acceptable mediums of exchange in the marketplace.
So Dollar-1 was our silver coin dollar. Dollar-2 was the paper note backed 100% by silver or gold (and convertible). Dollar-3 was a paper note backed with a fractional portion of gold as its substance. Dollar-4 emerged in 1934 when FDR and his administration chose to circulate only paper notes without any convertibility or backing. This became what we now call the Federal Reserve Note. Dollar-5 emerged when our computer technology became ubiquitous (in the 1980’s) and this dollar should now be called our Cyber Dollar. This dollar has no substance and no existence. It is virtual/digital/cyber!
What we now need to comprehend is that the name/word Dollar has changed in meaning over our history and is now corrupted and debased into a ‘nothing’ unit. We call our current Dollar by names like: digital dollar, cyber dollar, virtual dollar, computer dollar, imaginary dollar, debt dollar, and debased dollar. What we use for our money and currency today has no semblance to what our Constitution and our Founding Fathers created as our proxy for VALUE. Article I, Section 8 and 10, of our Constitution specifies that only silver and gold coins should be viewed under the ‘name’ Dollar.
But what has evolved via our unaware Congress is now a debased Dollar which is soon to collapse from its imaginary ‘nature’. Our Dollar today is corrupted and debased to the point that its life is soon to vanish into money heaven! Understanding the history of the word ‘dollar’ is essential if one desires to comprehend what is now emerging. Americans are mostly unaware of their own history and most do not discern what is about to happen. Watch the stock/bond/derivative markets for the coming flash crash! The problem or issue is our corrupted/debased ‘dollar’! Enjoy! I am: https://kingdomecon.wordpress.com.
P.S. Follow these images to understand the history of American economics:
Dollar-1 (Silver coin). A proxy for VALUE!
Dollar-2 (paper note convertible into Dollar-1). A proxy for VALUE!
Dollar-3 (paper note back with some gold-a fraction). A proxy for VALUE!
Dollar-4 (paper note with no convertibility). A Faith proxy for VALUE!
Dollar-5 (a cyber/digital/bit unit). A subjective dollar created via a punch of the computer key! This unit has no substance and no VALUE but serves to calculate an imaginary ‘value’ for assets and collateral! This unit is now ubiquitous globally as all international currency units are now ‘bit’ units created from banker consciousness and out-of-nothing! A collapse of all money units is now imminent as this unit is imaginary/subjective!