Stagnant Wages since 1970 Because The Fed Hates Gold
The critical date was August 15, 1971, America got off the gold standard. The dollar was convertible into $20 an ounce of gold. However, gold is moving back into the arena of money. Countries are calling for a reserve currency backed in gold. But not in America.
Why does the Fed hate gold so much? Well, it is big government that hates it. The Fed is a facilitator. It's a way to create money, power and wealth for special interest. It's a way to tax people, spend money, and run up the debt. It's a sinister plot against the people. When the people understand the truth about the Federal Reserve they will want something better.
Gold is a financial check on the powers of government. When governments can print money they can spend it on whatever they want. The Fed is their weapon there is a transfer of wealth from the middle class to the wealthy. We were told the government is spending money for the benefit of the citizens. Namely the middle class. But, we know who gets the money who gets the bailout and who gets the contracts. "Gold has always been the friend of the working class." said a union Leader to Ron Paul back in the 70s.
There is a distortion of wealth distribution. Mises had predicted, "that when you go off the gold standard, the middle class will get wiped out." Gold protects purchasing power and protects real wages. Gold has protected a lot of people over many years.
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