A few weeks back I thought about writing an article on “honest weights and measures” and why they are important. There has been so much news recently, I almost forgot it as a topic. A funny thing happened since then. Last week while in church during the sermon, the pastor quoted from the Bible, Proverbs 20-10. This verse states “differing weight and differing measures, the Lord detests them both”. I thought this was quite a coincidence, my thinking of the topic and then being reminded of it in church.
The CIA of course says “there are no coincidences” but I assure you there are, or a much higher power at work here. You see, I began reading the Bible a few months back and just so happened to be reading “Proverbs” currently. I didn’t know where this quote regarding weights and measures was in the Bible so I called our pastor and asked him. Lo and behold, it was on the very next page where I had last left off reading!
As for the topic of weights and measures, of differing ones, this is the very core of the problems in the world today. I say this not so much because the weights and measures are “differing”, no, we are far far beyond that. The weights and measures are just outright FALSE and have been since 1971, or even as far back as the 1944 Bretton Woods agreement.
In ancient times, false weights and measures (stealing) was done in several manners. Coins could have their edges either shaved or clipped. They could also have lesser valued metal than gold or silver “mixed in” and no one would be the wiser until Archimedes discovered the “weight to volume” relationship. Then along came “fractional reserve” banking where a bank would hold only 10% (or not!) of the gold to back notes or currencies they had written.
Of course now in modern day, “money” really hasn’t anything to do with weights or measures. “Money” is printed (mostly digitally) in any amounts that central banks choose. Millions, billions, trillions, and then these amounts are levered even further …and further again …it doesn’t matter! Well, this is not true, it DOES matter, just not yet. There is a saying, “a fair day’s wage for a man’s work”. In today’s world this is no longer so from several vantage points. First, back in the day of “Leave it to Beaver”, Ward could go to work and provide comfortably for his family of four. This is not so today, both Ward AND June have to work, and in many cases this is still not enough to provide comfort.
The second vantage point is from that of “settlement”. A worker bee shows up to work for the week and then is paid in dollars, euros, pounds, yen or even yuan. None of these are actual settlement, they are all “liabilities” of the issuer and only considered an asset by the holder because he can trade it to someone else. All of these currencies have value because they are “accepted as payment”, what value would (will) they have if they are not accepted? Of what value do these notes or digits have on their own other than their “acceptance”? Is there any cost whatsoever to their creation? Ask yourself the most basic of questions, if something is “free” to create in any quantity, what then is its “value”?
“Manmade” money (fiat) has created the problems we have today and now after many years is coming to a head. The ONLY way for a fiat currency, or in the current case a fiat world to continue is to have inflation. If inflation were to cease or worse, deflation takes hold, then it is “system over” as in game over. The world has reached a point of debt saturation where more debt cannot be taken on and any new debt actually takes away from an already declining system. “Good inflation” (markets going up) is about to end, you can clearly see this as VOLUME is and has been drying up over the last 12 months. You can also see this in the real economy. The U.S. has been through the biggest inventory build in history while China’s trade seems to be going into a freeze mode.
This chart is particularly scary because China has been the economic engine pulling the world along since the financial crisis. A 20% drop in trade in just one quarter is ominous!
I mention China above because it is my belief they will ultimately inherit the financial throne. The Chinese have been voraciously accumulating gold because they realized the West’s “weights and measures” were becoming criminally out of control. I believe China will at some point (when there is no more gold for them to accumulate) will revalue their currency the yuan versus gold. This will be the heart of your reset and China will become the new arbiter of global weights and measures. My guess is that the yuan will have an honest relationship to gold for at least 25-50 years until they begin to face the same problems the U.S. did after the Bretton Woods agreement.
Before, during, or immediately after China announces their holdings or revalues their yuan to gold, the “paper” in the West will burn. We will see the “everything is worth nothing” moment and those who stored their labor in paper balances will be ruined. I will leave you with this thought, would you do business with or deposit your hard earned savings with a bank, broker or insurance company that refused to allow an audit? What if this institution has refused to an allow an audit for each of the last 60 years? How much confidence would this “bank” have left? It is for THIS very reason the Chinese have been “running” the gold bank, “trust” is about the only thing left in Fort Knox!
Bill, I have kept my savings out of the banking system but what percentage should I keep my savings in gold, silver and cash as I still need to pay bills and do other necessary transactions?
keep only enough cash to pay your bills.
Hello Bill, quick question… In your opinion,
Wouwd taking out a 401K loan to buy precious metals be
a good idea… or a bad idea??? Thanks…
you would be getting capital out of the system this way. I cannot advise you to do this, personally I actually did at one point.
Bill- Glad to see that you’re checking with the source of all truth! I had an idea that was going on based on a different “tone” in your missives.
Of course the Chinese will not be a solution to the financial scam, since these central bankers all have lunch together, but certainly the “Top Dog” of the scam will be moving East. Meantime, how many “X” does an ounce of gold- and ultimately, a loaf of bread- cost? Looks like it depends on where you live, and what they use for “X”! Oh-also have to be careful that the butcher doesn’t have his thumb on the scale when weighing out your purchase. Gee-this weights and measures thing has a lot of variations-even banks CHARGING interest for deposits!
end times.
In another thousand years I want the historians who find these bits & bytes to know that I predict Christians will still be saying ‘end times’ in the year 3000. And they will be saying it in the year 4000. And hopefully, somewhere and someday, all of mankind will awaken to the reality that no sky deity is going to come save them from all the non believers. Let’s move forward, this Earth is all we have. Let’s start taking care of it. And by the way, I’m a stacker, so I’m definitely not against everything in the prepper universe.
good luck on that Ron.
Bill…when you say “after China announces their holdings or revalues their yuan to gold, the “paper” in the West will burn.” There are those who say if China does that…there will be no effect/impact on the Euro and the Dollar. That China’s unilateral action will mean nothing to the currency markets and the economies of the world. People exchange money for goods and services thay need to live on. China is not a member of the IMF – no seat….so why are you so certain of your result that markets would react that way?
no effect on currencies? Dream on.
Hi Bill,
Thanks, for your insight and sharing your knowledge, here’s a nice quote (Proverbs 20:15):
“Gold there is, and rubies in abundance, but lips that speak knowledge are a rare jewel” (NIV bible)
Kind regards,
Daniel
thank you Daniel.
The TOTALLY, TOTALLY non-responsive “dollar gold price”!
Not hard to understand, really. The “price”-setting mechanisms are all based on (leveraged) paper gold and are all located in New York or London. Still. This will go on as long as gold is price in US paper currency.
Why “non-responsive”? The NY and London markets are totally illiquid, is my bet…there are really very few actual buyers and sellers of paper, let lone physical – and what SHOULD be setting price – over-the-counter physical sales – is entirely unrepresented.
The few major “players” setting prices in London & NY are all leveraged to the hilt, and all are utterly, cravenly desperate for YIELD. They’re funds, hedgies, banks, mutual, insurers, bettors…and they all have to pay out regularly. They will seek yield all the way down to zero (and in Europe, below) and have zero interest in actual (gold) capital or in preserving purchasing power. They’re not allowed to speculate: they have to “invest” (for yield).
Otherwise, a virtual ten-bagger certainty would be to go after physical gold…but it pays no regular yield…!
They need to be taught the hard way what real MONEY actually is. Rates will never be allowed to rise, bankrupting them, nor will stock prices be allowed to fall significantly. Thus the system awaits a paper inflationary skyrocket – one driven not by “wage demands” and “economic growth” (there isn’t any) but by pure printing of paper.
At the margins, more and more players will slowly be forced to “sell” some of those hypothecated paper “assets” for cash…
it will ALL unravel.
Honest Weights and Measurements. These are vital for commerce, science, trade and most importantly RELATIONSHIPS! As GOD detests dishonesty in false weights and measures, it also includes False Morality and False Ethics. Without a strict adherence to STANDARDS, nothing can be completed, as there is NOTHING to adhere to – as reference. This affects no only daily trade and commerce, but also science and mathematics.
The problem with FIAT CURRENCY for all these years have always been:
1. It cannot hold a High Value. In fact, it must hold the smallest value possible, because if the need for exchange of goods & services, at its lowest denominator.
2. FIAT currency needs an ever increasing supply, as the population increases, and goods are increasing produced. Thus inflation will slowly erode the value of money.
3. A real physical, tangible item that is not easily created, replicated and counterfeited, in limited supply, and requires a high cost to produce – is needed as a Long Term Storage of High Value.
It must also be essentially useless and not integral to a functioning society’s daily needs (technology, medcial, etc.). It must be inert and last for a long, long time. Finally, it must be acceptable to man and the human psyche.
Today, there is only one thing that meets this criteria – GOLD. While many want to include Silver in this category, it is because they are counting on its historical use, as Money, in the near and distant past. However, in our modern time, Silver is a very heavily used industrial metal, and essentail for current technological equipment and medical usage.
While GOLD has always been valued many times higher than SILVER. And Gold, today, is not essential to modern day life. It could disappear totally without affecting our lives. Its main use is in Jewelry Form, while maintaining the owners’ savings.
yes, and much of the gold has already disappeared.
You know the system is breaking down when boffins in banks start calling for a ban on cash.
already happening.
Thanks Bill, honest and clear as always. I believe the Creator intended gold and silver to be used as honest money, so that civilization could develop.
says so in the Bible doesn’t it?
yep.
Let’s also keep in mind that the Jewish people always have been blessed with intelligence and prosperity even in the midst of their persecution. Gold is something they take seriously.
not always, he once withdrew his blessings as is happening in the U.S. now.
I meant that on an individual basis rather than collectively.
10-4 Ron.
Great article Bill. I was pleased with your reference to scripture. At the final battle of Armageddon, China will move 200 million troops across the Euphrates River. They won’t be doing it with the help of the US dollar. America is not mentioned in end-time prophesy. I can certainly understand this considering that we are doing a good job destroying ourselves now. As you say, China will be the new star player.
thanks Ron.
Thanks for the article, Bill. The fiat currency system we have today is not only destructive to the well-being of the vast majority of people, but it is immoral as well. I appreciate your making this point.
Below is a link you and your readers may find interesting. It deals specifically with the topic of what the Bible has to say about money.
http://www.sermonaudio.com/search.asp?currsection=sermonstopic&keyword=money+freedom
thank you Steve.
Bill: I very much appreciated your article on “just weights and measures “. I have written a short dissertation on this topic and would like to share it with you. I would greatly value your feedback on it. I have provided my email. If you could provide me yours I will forward it to you. Thanks for publicly addressing this topic. Sincerely, Ben K
thanks Ben.