There is a lot of cautionary info going around about the US currency no longer being the world dominant currency, and soon to become worthless, as in zero. So, ‘they’ are advising to buy gold and silver which is REAL money/currency which was once used to back a country’s national currency, and only increases in value. I’m sure ISRAEL has a good supply, as they are a source to purchase. But, if the below is true, “Why is it so?
Can anyone supply a source for this?
“Interesting idea, but […] somewhere in Nevi'im […], the Navi says that gold and silver will not matter in the very end of days...”
The US Federal Note:
The Federal Reserve has the power and authority to use the words “Federal Reserve note” to turn paper into money.[1] That power is part of the original functioning of the Fed and is enshrined in the Federal Reserve Act of 1913. Specifically, the Act ordered the production of $5, $10, $20, $50, and $100 (but not $1) Federal Reserve notes.
Once the notes were issued, banks and bankers (or anyone else) who held them could exchange the notes for gold or other U.S. currency.[2] Provisions of the Federal Reserve Act[3]were intended to make it easier for the new central bank to control how much money was in the economy, making the Federal Reserve note a more “elastic” currency—that is, a currency that can be adjusted in response to changes in the economy.[4]
In the 105 years since the passage of the Federal Reserve Act, things have changed: You can’t redeem paper money for gold anymore, and the $1 Federal Reserve note is the most common U.S. bill in circulation.[5] Major shifts in the economy and banking industry, both nationally and globally, and in U.S. law have led Federal Reserve notes to their modern versions. See https://fraser.stlouisfed.org/blog/2018/10/federal-reserve-notes/
THE CURRENT US FEDERAL NOTE (not a US Dollar, no longer in use)
6 comments:
Gold and silver, as money, do not go up in value. But they do hold their value very well in times of economic distress.
What the dollar is today is highly obfuscated. This is not the place to get into minutiae of how it works, but the situation can be summed up thusly.
1. In the era of central banking, money is debt. It is loaned into existence. First comes the loan (from the central bank, trickling down), and only then comes the reserves. Not the other way around (like we have been taught).
2. If all debts were paid off, money would cease to exist. This sounds perverse but is the absolute truth.
3. Economies only expand today if they are able to take on more debt. Once they reach a point of peak debt, nothing will help, no different than the individual experience.
4. We have reached that point. Despite the impression, we are now in deflationary environment, as debt is now being liquidated.
I don't know about the future, but it says in Melachim that during the time of Shlomo HaMelech, silver basically had no value and gold was so abundant it was like silver. I also believe that are hints that in the time to come, the only negotiable currency will be Torah and mitzvos.
Shimsom, what gold can buy in currency depends on the country.
Gold is very valuable.
Thank you Shimshon for taking the time to comment. Very imp.
Well, here is what Reb Dov shares with us:
Accrued Silver and Gold will not save a person from the Crash as it is unfolding now, but especially silver will have value in Yemot HaMashiach since it is with silver that we do a number of mitzvot (Machtzit haShekel, Pidyon haBen, Fulfilling Oaths to contribute to the Bet HaMiqdash based on our worth as human beings measured in shekels (Parshat BeChukotai), etc.)
So for this reason alone Silver will have value in the Messianic Era. Gold will have value because it is on a bed of Gold, the Aron, that the Divine Presence will once again rest in the Temple.
In the interim, precious metals will not save us from this crash, only our Father in Heaven can save us.
More from Reb Dov
Blogger Dov Bar-Leib said...
Specifically mitzvot in Yemot HaMashiach although Pidyon haBen is still d'Oraita even now. Still it is often a once in a lifetime mitzvah to do. Most kohanim have a pouch with 5 silver coins to do it. It also demonstrates that silver and gold will still be valuable in the Messianic Era.
First, the Federal Reserve is not a government office. This is a private entity that was started by the then president Woodrow Wilson (a socialist) and, of course, most Americans have no idea of history (as most people everywhere); therefore, they go with the flow and now it is embedded in the laws of the land. That's when the IRS also started because there was no such thing as income tax before then. Anyway, the silver represents the shekel and gold, universally, represents beauty, the jewelry and is priceless because it is forever, never diminishing in its value.
I've also heard many times that in the Messianic era, there will not be a need for any currency.
This is something that many people cannot fathom, but the miraculous wonderful life is something that is hard to digest by many as life in Olam Hazeh is much suffering, whereas in Olam Habah, it will be pure bliss. May the bnai Yisrael all merit to welcome Moshiach tzdkeinu! Amen!
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