7/2/2015 Can the world economy work without debt? Today, money, i.e. capital, is issued by central
banks in the form of debt. If all debt were paid,
money would disappear. Who'd a thought. Not the
Dollars & Sense, Shows 80/81, Freedom and the Matrix, part 2.
DRSCHOON.COM features the articles of Professor A. E. Fekete of the New Austrian School of Economics, a leading expert on gold and its role in financial markets and the economy.
The Spontaneous Remonitization of Gold
and the Revival of the Moribund World Trade
New Austrian School of Economics and the Lips Institute
In the words of the Old Testament “the use of false weights and measures is the greatest abomination in the eyes of the Lord”. The Great Coin Melt of 1933 by Franklin D. Roosevelt certainly answers the description “greatest abomination”. He confiscated the gold coins of the American people; he melted them down and wrote up the value of the proceeds. He pretended to have compensated people for their stolen gold by giving them Federal Reserve notes in exchange. These notes have, in hardly more than a generation, lost 90 percent of their purchasing power.