Central bankers and bankers understand that the paper money they issue is in competition with gold; they want to win the competition.
Over a period of many decades, they have denigrated, obscured, and marginalized gold. They successfully got Congress and others to implement legislation to demonetize gold worldwide.
They ignored and caused others to disregard the pitfalls, injustice, and illegality (in the U.S. according to the United States Constitution), of paper money. They never addressed or even acknowledged the thousand-year history of how paper money has resulted in wealth destruction, wealth transfer (largely to themselves), fueled and fomented many wars, along with concomitant deaths of hundreds of millions, unspeakable waste, and profound suffering to ordinary people everywhere.
Today, paper money has brought not only the U.S. but almost the entire world to the precipice of a total breakdown of civilization as promises of future payment are defaulted, e.g., the Teamsters Central States Pension Fund, teacher pensions in Puerto Rico, and many states.
This is just the tip of an oncoming tidal wave of broken promises. Depending upon whom one speaks to, U.S. defined benefit pension plans are underfunded between $1T and $4T.
The U.S. unstable, dishonest, and unlawful monetary system has invalidated the business model for long-term health care. Annuities and insurance proceeds are not far behind.
No society that breaks promises of future payment to so many millions can retain legitimacy in the eyes of ordinary people. The result is always a regime change, and not to a freer society and not to one that has any concern of the so-called “rule of law.”
The Gold Alliance will enter gold as essential for stability, honesty, and lawfulness into the competition for the world’s premier money. We will restore gold, in the words of the American Federation of Labor (the predecessor of today’s AFL-CIO) as “The Standard of Every Great Civilization.”
Everyone will benefit, but especially gold space participants: producers, employees, shareholders, fund managers, suppliers, savers, pensioners, annuitants, etc.
TGA will build a constituency for telling gold’s story and set the stage for a legislative remedy for our unstable, dishonest and unlawful (according to the U.S. Constitution) monetary system.