The U.S. dollar has been losing value essentially since the Federal Reserve was created, but especially so since the termination of the gold standard between 1933 and 1971.
Inflation is a “tool”, so to speak, that is used by the government to extract value from all holders of U.S. dollars. Sometimes referred to as a hidden tax since it hits the middle class the hardest, it reduces the buying power of our money.
This thread is to discuss potential methods of protecting our purchasing power; whether it be something the State of West Virginia can enact to help or something an individual may utilize.
We are starting to see a parallel economy being set up. Andrew Torba talks some about this (creator of gab). The fed. Res. Needs to be abolished. The scary part is they are pushing for a cash less society. This way uncle sam can decide how you spend your money. China just unveiled a digital currency with an expiration date so people cant save. I will continue to use the petrol dollar as long as possible. Gold backs in my opinion are a way for us to thumb our noses at the powers that be.
I will be honest and say I have not given much of any thought as to how the Federal Reserve could be abolished and what effects would occur afterwards. I think if they had less power over the manipulation of currency, it might not be such a problem.
Also curious who is the “they” that you see pushing for a cashless society. From my perspective, it seems like that’s what the majority of people do already. With direct deposit, credit cards, internet bill pay, etc. there is rarely a need to even write a check anymore. I see this as a convenience through technology more than a grand nefarious scheme being successful. I am aware that this convenience has a price, it’s a one-way door, and there is no doubt that authoritarians want unfettered access to all of our transactions.
The THEY i speak of is the U.N. and agenda 2030. The world economic forum (WEF) and Claus Shuab and him saying that you will own nothing and be happy. There are many other groups. Digital currency is a way of control. If you like crypto currency, look up FED coin. They are not going to give up the centralized banking scheme they have created. The fed res just allows our politicians to continue to spend like drunken sailors. If the government had to ask the people for money we could say no. They couldn’t afford the interest payments to us. Printing press go brrrrrrrrrrrr.
@SMarshallWilson I disagree with you on the need for West Virginians to develop a bartering economy. It may sound good in theory but it is not as practical nor as efficient. I much prefer a monetary economy because, for example, its pretty difficult to determine how many eggs an acre of land might be worth.
My qualm is with the management of the U.S. dollar and the theft of value from the innocent holders of dollars. I don’t think we have much of any recourse on the state level to combat this, however, I’m curious to hear your thoughts. After all, the less value a dollar has, the higher the quantity of dollars the state will have to extract from the citizenry. “We will tax less” is not a solution to inflation.