The Death of the Dollar

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Operation Disclosure | By David Lifschultz, Contributing Writer

Submitted on April 4, 2021

THE DEATH OF THE DOLLAR

COMPLIMENTS OF THE LIFSCHULTZ ORGANIZATION FOUNDED IN 1899

If Russia wants to break the dollar, and replace the US seized gold that Elvira Nabiullina cooperated in giving away, then they could ask that all oil and natural gas purchases be paid in gold in by unfriendly nations as the US and Euroland as well as other commodities.  If Gazprom receives euro credits Gazprom is trapped in their system in the event of sanctions on Gazprom on the euro. I do not understand why this is acceptable to Gazprom as Euroland can freeze euros as the US just did dollar deposits of Russia as it merely is an entry in their banks books. Bitcoin that Russia says they will take at one point is basically dollar equivalents that does not have legal tender value so it is fiat money which has no value at all. How stupid can Russia be to accept that. If you receive gold, it is not a credit in the dollar system or the euroland banking system that float against each other but an actual currency dating from Biblical times. The increase in the demand for gold to pay bills will start a route against the dollar as the dollar falls against gold. As gold dramatically rises speculators will pile into gold and a reciprocal dollar selling panic will ensue as gold rises. The dollar with its trillion dollar current account deficit will crash as everyone flees the dollar.  

The gold price is held down by government fiat. Its price but not value is about $1,930.00 fiat dollars per ounce, and the number of ounces in the world is 6,080,000,000 based on 190,000 tons, then we have 11,673,600,000,000 or 11.673 trillion dollars of gold against a world GDP of 95 trillion. Gold is grossly undervalued as the fiat dollar as taken its place purely based on faith in a paper dollar that has no intrinsic value. We have 8,177 tons of gold at Fort Knox and the New York Federal Reserve according to US records, if in fact they are all there as it is unaudited, or 261,664,000 ounces. 505,011,520,000 dollars or 505 billion dollars at $1,930.00 an ounce for 261,664,000 ounces. The US external debt based on accumulated current account deficits is 15 trillion dollars alone. This means that gold is about 1/30 of its monetary value in dollars just in relation to its net deficit position on its foreign accounts. The US GDP is about 21 trillion dollars. M-3 money supply is 22 trillion dollars. This is a system that cannot last based on these extravagant proportions and cannot hold up against pressure.

The intrinsic value of the dollar is zero and the intrinsic value of the euro is zero.  They are based on faith in nothing. Karl Marx called this phenomenon as the Jealous God of money as value is transubstantiated from zero value to a believed value that does not exist.  

Paper money eventually returns to its intrinsic value: zero.

The Deutschmark evaporated in 1923 based on lack of faith in the mark though the money supply increase for 1923 did not proportionally rise anywhere near the equivalent of the mark depreciation, see charts below. The money supply did not proportionally rise to justify a hyperinflation but a loss of confidence which could easily happen to the dollar. The next link explains that the mark hyper-inflated away based on the Ruhr crisis.  It is by faith alone that this fraudulent system exists. Charts below demonstrate that the value of the mark was based not so much on money supply as psychology.

Hyperinflation and Weimar Germany – History Learning Site

The graph illustrates the rapid decline of the currency between 1918 and 1923. 1 gold mark was worth almost 1 trillion paper marks at the end of 1923. (Graph from Dephi234 licensed by CC0 via Wikimedia Commons

David Lifschultz
CEO and Chairman, Genoil Inc.
dklifschultz@genoil.net
Tel: +1.212.688.8868

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