𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗩𝗶𝗱𝗲𝗼
This video is mirrored from the Youtube channel, BestEvidence.
A new take on the closing of the gold window (at least new to video), and just in time for the 50th anniversary of that fated day… This episode of Mafiacracy Now shows that the Federal Reserve opened itself up to a massive blast of transparency the very minute it started selling cash and reserves not backed by gold (or anything else of value that the Fed can't freely generate) back in 1971. The video leverages a recent law review article from an international team of prestigious legal scholars (and a lone economist), which makes the highly compelling case that once the gold window closed, cash and reserves alike ceased to qualify as liabilities—undercutting every central bank balance sheet in the west. And since those balance sheets have been absolutely larded with sovereign debt for the last year—actually, let's make that “alleged debt” since it has no legal validity in the first place, not when the underlying liabilities fail to qualify legally as liabilities—the public and private debt burdens are being overstated to the tune of roughly $25 trillion across the western world. Whoops.
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