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The Big Reset: War on Gold and the Financial Endgame
The Big Reset War on Gold and the Financial Endgame Author:Willem Middelkoop Gold backed almost all major currencies until 1914, when the enormous cost of World War I forced most European countries to abandon the gold standard. The United States followed suit in 1971. Since then, argues Willem Middelkoop, gold has emerged as the financial industry?s greatest enemy. In The Big Reset, he contends that the fight against gol... more »d, with the creation of almost unlimited amounts of unbacked currency, sparked a decades-long process that has poised the world?s financial system for collapse.
Exploring gold?s traditional role as the anchor of financial systems, Middelkoop traces the secret war against it to the 1960s, when central banks across the United States and Europe agreed to pool their gold reserves in the London Gold Pool in an attempt to control the gold price and, thereby, to support the dollar. He then outlines the history of gold-backed currencies and today?s fiat currencies (state-issued money that has no fixed value in terms of an objective standard). Recently, fiat currencies have allowed many governments to print huge numbers of bonds to finance their budgets. But Middelkoop warns that piling debt onto the balance sheets of central banks is not a sustainable way to revive the economy. Ultimately, he shows, this process will lead to a collapse—and subsequent reset—of our worldwide financial system.« less