"The best criminals convince the world that they don't exist.
The Federal Reserve has done the same thing with its paper dollar. The best counterfeiters convinced the world there's no real money.
The world used gold as its monetary foundation for at least 4,000 years. Only since 1971 has the world's reserve currency had no connection to gold. And yet, only 40 years later, it seems as though most people have forgotten gold is the only real money.
We think this is the greatest financial crime in human history. The U.S. government convinced the world gold didn't matter, that its paper (which it can legally print) is better than gold. It convinced all of its creditors that counterfeiting was better than sound money.
What do you think is going to happen when our creditors wake up and realize how they've been duped? One thing is certain; they won't trust us again. And they won't buy our bonds."
Porter Stansberry, February 2011
