When Nixon ended the gold standard in 1971, the U.S. switched to a debt-based system where money is created through borrowing. The Federal Reserve's 2% inflation target deliberately erodes wealth by about 10% every five years, according to this argument.
It's not a bug, it's a feature. So when Nixon took us off of the gold standard in 1971, he severed all ties and we're in a debt-based— we went from an equity-based and now a debt-based monetary system. And so that means that the money is created through debt issuance. And that means that in that type of a system, the debt becomes the asset or collateral for more debt. And so in that system, it has to always grow. It's why Jerome Powell and the Federal Reserve says, Our target is 2% inflation. It's higher than that, but our goal is 2%. So their goal is to only steal 2% a year, or that's 10% of your wealth every 5 years. That's their goal. If you wanna know more about creating a wealth operating system, just comment ready and we'll send you the link.
