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One Nation Under Gold, by James Ledbetter! Just published!

June 17, 2017

Image result for one nation under gold, james ledbetter

James Ledbetter and his new book, One Nation Under Gold!

Image result for one nation under gold, james ledbetter

Today’s Wall Street Journal had a great article by James Grant on the above recently published book (June 13, 2017). James Ledbetter has written this book and I have reviewed it briefly. Basically, James does a great job in providing the history and the intrigue which has surrounded this metal called gold for Americans. His timeline is partial but mostly valid and his stories are mostly excellent. The history which he reveals gives the reader a full understanding of why gold and silver have played such an important role in America’s prosperity and political success. America’s manifest destiny emerged from this money item and its political intrigue which followed.

James Grant’s review in the W.S.J. (page C10) provides a great overview of the message which gold has played for Americans. James says “It is no work at all to make modern money. Since the start of 2008 financial crisis, the world’s central bankers have materialized the equivalent of $12.25 trillion. Just tap, tap, tap, tap on a computer keypad.” He then says “the value of all the gold that has ever been mined, according to the World Gold Council, is a mere $7.4 trillion.” 

Jim then compares the two basic models of monetary economics that have existed over American history. The gold standard model and the Ph.D standard. This Ph.D standard is what emerged after Nixon closed the gold window in 1971. This standard was the ‘naked’ symbol system ($1.00) which emerged as our basic dollar reserve currency in 1973 and after. Both Jim Grant and James Ledbetter do a disservice to the reader, however, by not providing the ‘starting point’ history for our money system. James Ledbetter starts his history in 1788 (with our Constitution, Article I, Section 10) and continues from this starting point. This seems confusing to me.

Let me provide you with a better timeline which starts prior to 1788 and ends with today. I think you will discern that the message of money, gold, silver, paper, digits, will take on additional meaning as you read the above book. My history or timeline is as follows:

  1. 1620: The Pilgrims started the first economic experiment (in America) with a form of communal living and then abandoned this experiment as they discovered the dire consequences. They then instituted the concept of private property and individualism (private production) which emerged into the philosophy called Capitalism. This starting point is essential to comprehend as America adopted Capitalism as their model for economics after this experience of 1620 (and after).
  2. 1775: During the American Revolution, the colonies became independent states; freed from British monetary regulations, they issued paper money to pay for military expenses. The Continental Congress also issued paper money during the Revolution, known as Continental currency, to fund the war effort. Both state and Continental currency depreciated rapidly, becoming practically worthless by the end of the war.
  3. 1785: Our most knowledgeable founding father on money issues, Thomas Jefferson, chose the ‘naked’ monetary symbol $1.00 and the ‘name’ dollar’ as the basic accounting unit and value unit for America’s new monetary system. He then, with Hamilton, promoted legislation for a new American monetary system.
  4. 1792: Our first American Congress (after debate) passed legislation called the Coinage Act of 1792 which spelled out the mathematical definitions of our American dollar (and all the subsidiary coinage). The words in our Constitution concerning ‘Value’ read, “to coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”. The initial standard was $1.00 = 371.25 grains of Ag which means $1.29 = 1 ounce of Ag.
  5. 1834: The ratio of silver to gold changed from the initial ratio of 15:1 to 16:1. This led to gold being chosen as the basic definition of our $1.00. The definition was 24.75 grains of Au in the Coinage Act of 1792. It became 23.22 grains of Au after 1834.
  6. 1913: The Federal Reserve Act was passed by Woodrow Wilson (a conspiracy of elites created the premise for this private institution) leading to our third Central Bank (which many patriots viewed as unconstitutional). Our Constitution does not mention any support for a Central Bank. Also, the idea of a Central Bank was debunked after 1836 with the election of Andrew Jackson who said “Mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges…which are employed altogether for their benefit.”
  7. 1933-34: The great depression of 1929 resulted in FDR being elected president in 1932. FDR summarily called in gold holdings from Americans and then made owning gold illegal for Americans. He then redefined our $1.00 as 13.71 grains of Au which means $35 = one ounce of Au. Foreign holders, however,  could exchange their dollars for our gold at the $1.00 = 13.71 grains of Au definition. The consequence was that our Treasury purchased hoards of Au from foreigners (after 1934) giving America some 740 million ounces by the end of WWII (some 70% of the world’s official supply).
  8. 1971-73: America’s hoard of Au (gold) gradually diminished from 740 million ounces to 274 million ounces in 1971. America’s policy of inflation and their negative balance of payments situation created demand for our gold from foreigners (especially France). The result led Nixon to close the gold window to foreigners on August 15, 1971. This led to the ‘floating’ symbol $1.00 (a ‘naked’ symbol with no ‘tie’ to any commodity or to physical reality).
  9. 1974-75: Nixon and Kissinger concocted a deal with the Saudi regime to ‘price’ all their oil (including all OPEC oil) in the U.S. ‘naked’ symbol $1.00. This led to what traders called the Petro $1.00 (an imaginary currency unit at the core but viewed/visualized as ‘tied’ to oil). The result was some stability and confidence in America’s ‘naked’ symbol $1.00 in the mind’s of traders and investors. Inflation, however, emerged with a vengeance within the U.S.A. and global commerce. America’s balance of payments situation became negative and it has remained negative ever since 1975.
  10. 1980-2017: A new computerized technology emerged globally which allowed our Central Banks to eliminate all paper currencies (gradually) and replace these currencies with a ‘virtual’ and/or a ‘digital’ $1.00 (living within our computer screens). This ‘naked’ virtual/digital $1.00 (with no tie to material reality) was then circulated within a new ‘inner’ space called ‘cyberspace’ (often called the cloud). To most, this cyber environment appears as similar to space/time reality!
  11. 2017-2018: Today, we witness some 90+% of all global currencies circulating within this new cyberspace environment. Cyber money has emerged for the entire planet and Central Banks have emerged as the new Central Planning Institutions. Crypto-currencies are also emerging to challenge the legacy of our Central Bank currencies going forward. Gold and silver are being artificially suppressed (within our electronic futures markets via naked-short strategies) so as to crash sentiment in these historical monies and promote the new world of ‘virtual’ cyber currencies (called money by our elites). This is viewed as necessary to further the new United Nations program called Agenda 2030 (official as of 2016). The plan is to create a global socialized/communistic economy for the entire planet.

The above timeline should help everyone reading the new book by James Ledbetter, called One Nation Under Gold, to fully comprehend what has happened to our money and to global economics. Commerce is now mostly being done within this new ‘inner’ space called cyberspace and online transactions are growing by the day. Amazon just purchased Whole Foods and the big corporate elites are ruling our markets. Technically, we do not have any real Capitalism today. Our markets are pumped up with cyber digits (mostly by our Central Banks) and these imaginary digits rule over all commerce. The rich are prospering and growing ultra wealthy while the masses are getting poorer by the day. The entire System is so corrupt that select politicians and the Deep State now rule our planet (surreptitiously).

Take the time to purchase the above new book by James Ledbetter. It will really help you understand our prior monetary history. It will also help you comprehend why a commodity such as gold and silver were necessary as a ‘tie’ to any naked symbol currency system (for a money system is to have relevance). Soon we will experience the most dire financial crash/collapse within all human history. It is all because of our money system, the corruption within finance, our deceived Ph.D. economists (who falsely interpret reality on money), and the centralized monstrosity called our Global Central Bank System. Get yourself educated ASAP as you will benefit from this knowledge going forward! Enjoy! I am: https://kingdomecon.wordpress.com.

Some additional images for your consideration:

Image result for one nation under gold, james ledbetter

A book everyone should consider reading for its history about America and Money!

Image result for one nation under gold, james ledbetter

An interview with James Ledbetter on Kitco News!

13 Comments leave one →
  1. therooster permalink
    June 17, 2017 4:41 pm

    Don … there is no mention of a gold based market currency with mass as the organic unit of account …. yet it exists. What’s up with that ? Does the author hold the assumption that the medium of exchange must be created by central banks ? Does he not believe that the market can create asset based currency and trade debt-free ?

    Like

    • June 17, 2017 4:46 pm

      The private sector can offer alternatives but official money must prevail to generate international commerce. We live in a global interconnected cyber market place. Your model is relevant only for 0.000001 percent. D

      On Jun 17, 2017 4:41 PM, “Kingdom Economics – The Future Is Now” wrote:

      >

      Like

      • therooster permalink
        June 17, 2017 4:59 pm

        It’s available to all …. and just beginning. The salient points are the economic stimulus and the associated debt purging capabilities.

        Thank God it’s now fully scalable !

        Like

      • June 17, 2017 5:01 pm

        Good luck with growing your model. D

        On Sat, Jun 17, 2017 at 4:59 PM, Kingdom Economics – The Future Is Now wrote:

        >

        Like

      • therooster permalink
        June 17, 2017 5:05 pm

        … and what will you do in the meantime, Don ? Debt deal ?

        Liked by 1 person

      • June 17, 2017 6:20 pm

        My solution is to cancel all the global debt. It’s all imaginary. D

        Like

      • therooster permalink
        June 17, 2017 8:01 pm

        Why cancel debt and devastate billions of lives with the ripple effects when we have now developed a market oriented process that can safely purge debt without the need for an economic crash ? Have you gone mad ?

        Like

      • June 17, 2017 8:37 pm

        Dan: I’m working on writing a book. D

        On Sat, Jun 17, 2017 at 5:05 PM, Kingdom Economics – The Future Is Now wrote:

        >

        Like

      • therooster permalink
        June 18, 2017 5:19 am

        Good luck. I’m mingling with the crowds. I hope you don’t ignore that movement toward gold-as-currency , now that it has real-time trade values. It’s highly Jeffersonian.

        I have spoken to you at length and I still have the perception that you feel that all mediums of exchange (currency) should be issued from the apex of political power and/or monetary power ? Is that correct or is there room for currency to be developed debt-free, asset based and where that currency come into circulation by way of the free market ?

        Like

    • June 18, 2017 2:05 pm

      The market is totally dependent on the official legal TENDER FOR Valuation.

      Like

      • therooster permalink
        June 19, 2017 5:31 am

        If you are referring to pricing, yes, but that’s OK. It’s not harmful because the measurement role is not debt. The measurement role amounts to ratios …. just a number.

        Think of the USD like a segment of sting, a segment that has two distinct and separate ends …. one being the currency (debt), while at the other end, we find the price measure, a value measurement tool of relativity and comparison in the global price model created by central banks. It is the price model that now allows and supports debt-free, real-time transactions for consumers in the real economy. The debt-free trades cannot be done without this vital tool to compare the price value of two debt-free widgets so that they can trade directly for each other with NO DEBT involved in the transaction. ZERO. Barter , in spirit !

        Now that the price model has matured, we can and are using this modern flexible price model to support debt-free trades,,,,, a measure of gold for a man’s new suit. The price model is essential for economic balancing in regards to supply and demand fundamentals.
        We want to keep trade moving while we also don’t want the store shelves to run empty.

        The paradox is that it’s impossible to create a free floating price model without developing that price model with a free floating currency at “the other end”. Now that we have the model, we can use it for debt-free trades and allow debt to be safely purged …a market driven displacement by market osmosis.

        Remember something about the price model’s relationship with debt. Regardless of whether we have $100,000,000 USD in circulation or if we have $ 1,000,000,000,000,000,000,000 in circulation, the price model exists, either way and can support debt-free trades. This is how massive amounts of debt can now be safely purged. If debt can be wound, it can be unwound and in this case, it can be safely unwound by way of the organic actions of the market.

        I sense that you may need to create your own strong distinction of the currency application of the dollar versus the price measurement application. They are at opposite ends of the string segment. They are not one and the same.

        Can you create a segment of string that only has one end ??? Now you may see why there are necessary evils written into the script. It’s a damn fine story with a glorious ending. .

        When we re-examine the nature of the Yin-Yang relationship (total liquidity) we can now determine and possibly see that the evil of the incomplete structure , where the dark-side was isolated and not been completed in the absence of the light was not a matter of the dark-side being evil or bad . The evil actually resides/resided in the imbalance.

        Just add assets …. and stir…. symbiosis ensures.

        Thank God for the necessary evils in His script.

        Goldmoney.com/r/0UZxqF

        Like

    • therooster permalink
      September 24, 2017 9:24 am

      Don …. The author lists several benchmarks for gold and gold currency applications as noted by the paste below, but he skips over the all important issue of Bretton Woods in 1944 , which represented the watershed process that was the beginning of the end for the fixed price peg on gold.

      Gold’s money challenges have always been an issue of available liquidity for gold as a form of currency , not because of the qualities of gold , but because without a variable trade value on the weight (USD/oz) in view of limited and finite supply, gold currency/money proves to be ineffectual. The trade value has to be variable to be congruent with the law of just weights and measures. History bears this out on the basis of the 1933 liquidity crisis which fell right on the back of the fixed peg. He cites the gold confiscation , which was a crisis oriented band-aid , without pointing out the real cause.

      This is bizarre , which leads me to the logical question if this man’s precognition in writing his book might be that the dollar should have a fixed relationship with gold in the same manner that gold standards of the past had a fixed relationship for USD/oz ???

      What;s your take on this Don ??? Is he in favor of a fixed price peg for gold ? I’m differentiating between the unit of account for gold, versus the measuring of the trade value if the unit of account for the currency is to be made mass (weight) as is organically prescribed by nature.

      paste: Note what I filled in for 1944 (Bretton Woods)

      1620: The Pilgrims started the first economic experiment (in America) with a form of communal living and then abandoned this experiment as they discovered the dire consequences. They then instituted the concept of private property and individualism (private production) which emerged into the philosophy called Capitalism. This starting point is essential to comprehend as America adopted Capitalism as their model for economics after this experience of 1620 (and after).

      1775: During the American Revolution, the colonies became independent states; freed from British monetary regulations, they issued paper money to pay for military expenses. The Continental Congress also issued paper money during the Revolution, known as Continental currency, to fund the war effort. Both state and Continental currency depreciated rapidly, becoming practically worthless by the end of the war.

      1785: Our most knowledgeable founding father on money issues, Thomas Jefferson, chose the ‘naked’ monetary symbol $1.00 and the ‘name’ dollar’ as the basic accounting unit and value unit for America’s new monetary system. He then, with Hamilton, promoted legislation for a new American monetary system.

      1792: Our first American Congress (after debate) passed legislation called the Coinage Act of 1792 which spelled out the mathematical definitions of our American dollar (and all the subsidiary coinage). The words in our Constitution concerning ‘Value’ read, “to coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”. The initial standard was $1.00 = 371.25 grains of Ag which means $1.29 = 1 ounce of Ag.

      1834: The ratio of silver to gold changed from the initial ratio of 15:1 to 16:1. This led to gold being chosen as the basic definition of our $1.00. The definition was 24.75 grains of Au in the Coinage Act of 1792. It became 23.22 grains of Au after 1834.

      1913: The Federal Reserve Act was passed by Woodrow Wilson (a conspiracy of elites created the premise for this private institution) leading to our third Central Bank (which many patriots viewed as unconstitutional). Our Constitution does not mention any support for a Central Bank. Also, the idea of a Central Bank was debunked after 1836 with the election of Andrew Jackson who said “Mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges…which are employed altogether for their benefit.”

      1933-34: The great depression of 1929 resulted in FDR being elected president in 1932. FDR summarily called in gold holdings from Americans and then made owning gold illegal for Americans. He then redefined our $1.00 as 13.71 grains of Au which means $35 = one ounce of Au. Foreign holders, however, could exchange their dollars for our gold at the $1.00 = 13.71 grains of Au definition. The consequence was that our Treasury purchased hoards of Au from foreigners (after 1934) giving America some 740 million ounces by the end of WWII (some 70% of the world’s official supply).

      1944 ???????????? This my input. He left this totally blank. There was a TOTAL reconfiguration of the whole global price model here so that when the inevitable gold price peg severance followed, gold’s pricing would settle into a global price framework that was suited to market monetization at some point in the future, later still.

      1971-73: America’s hoard of Au (gold) gradually diminished from 740 million ounces to 274 million ounces in 1971. America’s policy of inflation and their negative balance of payments situation created demand for our gold from foreigners (especially France). The result led Nixon to close the gold window to foreigners on August 15, 1971. This led to the ‘floating’ symbol $1.00 (a ‘naked’ symbol with no ‘tie’ to any commodity or to physical reality).

      1974-75: Nixon and Kissinger concocted a deal with the Saudi regime to ‘price’ all their oil (including all OPEC oil) in the U.S. ‘naked’ symbol $1.00. This led to what traders called the Petro $1.00 (an imaginary currency unit at the core but viewed/visualized as ‘tied’ to oil). The result was some stability and confidence in America’s ‘naked’ symbol $1.00 in the mind’s of traders and investors. Inflation, however, emerged with a vengeance within the U.S.A. and global commerce. America’s balance of payments situation became negative and it has remained negative ever since 1975.

      1980-2017: A new computerized technology emerged globally which allowed our Central Banks to eliminate all paper currencies (gradually) and replace these currencies with a ‘virtual’ and/or a ‘digital’ $1.00 (living within our computer screens). This ‘naked’ virtual/digital $1.00 (with no tie to material reality) was then circulated within a new ‘inner’ space called ‘cyberspace’ (often called the cloud). To most, this cyber environment appears as similar to space/time reality!

      2017-2018: Today, we witness some 90+% of all global currencies circulating within this new cyberspace environment. Cyber money has emerged for the entire planet and Central Banks have emerged as the new Central Planning Institutions. Crypto-currencies are also emerging to challenge the legacy of our Central Bank currencies going forward. Gold and silver are being artificially suppressed (within our electronic futures markets via naked-short strategies) so as to crash sentiment in these historical monies and promote the new world of ‘virtual’ cyber currencies (called money by our elites). This is viewed as necessary to further the new United Nations program called Agenda 2030 (official as of 2016). The plan is to create a global socialized/communistic economy for the entire planet.

      Like

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