Freedom, Indiana – Author Andrew Horning is the Libertarian Party of Indiana’s candidate for Indiana’s US Senate seat in 2024.
For most of the last three decades, I’ve written extensively about the USA’s monetary madness, inflation, impending monetary/economic and social collapse, and how to fix it all. But now’s not the time to detail the Cantillon Effect, the Triffin Paradox or the still-constitutionally-required gold/silver “specie” backing of all official notes and currency, because we are about to get smacked upside the head by a world that is sick of our $#!+.
Some necessary history: Before our entry into WWII, the USA had acquired a huge percentage of the world’s monetary gold, and still had a fair bit of it after the war. So, given the stability and growth of our society back then, the Breton Woods agreement made the US Dollar an at least partial “reserve currency” for the world – a sort of monetary exchange/credit card system that paid the USA a debt-based credit of 2-3% on all dollar-denominated transactions because of our inherently inflationary “fiat currency” Fed scheme. This is what the French Minister of Finance Valéry Giscard d’Estaing famously called our nation’s “exorbitant privilege.” So, in 1967, Charles de Gaulle called the bluff on the USA’s gold reserves on the claim that we’d spent it all on the CIA, Vietnam war/military-industrial complex, and political spending recently spurred by LBJ’s “Great Society” programs.
This led to a sort of global “run on the bank” of US Dollars, prompting Nixon to end the aforementioned Breton Woods agreement. This led to rapid inflation, and an emergency deal with Saudi Arabia to create the “petrodollar system,” whereby we fought wars for the House of Saud, in exchange for a global market for USD in the oil trade. The USA has since used that petrodollar leverage, and military force, to get what we want out of other people’s countries. Through the years, our sanctions, manipulations, and recently, the REPO Act, to literally steal other nations’ assets (specifically Russia’s, for now), have made nations lose so much faith in the worth of the US Dollar, that the BRICS nations, and their growing list of partners, are launching a new monetary exchange system, and a major effort to “de-dollarize” in October of this year…as many of us (not just me!) have warned for some time.
Whew! That’s a lot of stuff, I know. But it’s important to understand how we’ve used our money as a weapon of global hegemony, a scheme that has now turned against us. What this means to USA citizens is that, starting very soon, maybe even by early 2025, we’ll see inflation like we’ve never imagined, a massively decreased standard of living, perhaps even World War (if we’ve not started one for other reasons), on top of the economic depression already underway.
In other words, our incumbent parties, politicians, and the puppet masters who own and operate them, have brought us to the edge of actual ruin. But we could fix it. I’ve a proven plan to do so. You ought to ask me for details.
Liberty or Bust!
Andy Horning
