BRICS gold-backed currency and the many issues that it needs to overcome. The main concern is, who do you trust to hold the gold?
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This, of course, is an absolute lie, created by whomever programmed the software to spit that out.
The Federal Reserve was championed as an ultimate solution to (a) prevent inflation, (b) prevent bank failures, and (c) prevent depressions.
Inflation has been HORRIFIC since the inception of the Federal Reserve. Prices have skyrocketed so that the value of the US dollar has declined by almost 99% in the past 100 years. In 1913, you could buy a high quality man's suit for 1 ounce of gold, which was $20. Today, you can buy a VERY nice suit for 1 ounce of gold, but in US dollars, what $20 bought you then now takes almost $2,000 (1 ounce of gold is $1,936 as I write this; the gold is the sameas it was 100 years ago, but the dollar has lost value relative to that gold).
Prior to the Federal Reserve (during the 19th century), prices were stable, except during wartime and shortages. The value of the US dollar INCREASED during that century.
Bank failures did occur -- rarely -- prior to the Federal Reserve. But MANY MORE have occured since. the 1980's saw an entire sector of banking (Home Savings and Loan banks) go bankrupt. Recently, we had 3 biggies. More will come, as well.
And of course, the Great Depression was by FAR the worst depression in American history, and it happened WITH the Federal Reserve in existence. Some would argue it happened BECAUSE OF the Federal Reserve's manipulation.
So, central banking has failed -- spectacularly -- on ALL accounts.
Of course, this was just the window dressing. They didn't REALLY give a damn about any of these things. It sounded good to the early 20th century sheep, though.
The REAL reason for a central bank is to allow INSIDERS TO PROFIT from the printing of money -- just like the money changers from centuries ago when they would take in $100,000 in gold (real money) to be held "on deposit" and issued gold certificates to be used as a convenience. But those gold certificates were paper that could be exchanged back into gold. Problem was: The (((money changers))) would fraudulently and without disclosure print up EXTRA gold certificates for themselves, but there was NO extra gold to back them up. Still, they spent the same as all the other gold certificates.
This is the REAL purpose of central banking.
Of course, the computer programmers who program the AI computers are never going to put this into their algo.
Yeah. I noticed that immediately as well. It was almost physically painful reading that nonsense that a central authority maintains economic stability. ChatGPT got trained on way too much Keynsian economics to the point it is completely biased. And unfortunately, as a simple AI, it doesn't even know it is horribly biased.
But do I think a point of information is in order here. It's important to note that programmers don't have to deliberately put anything into an AI. Truthfully, they usually have absolutely no idea what is in there. They just let it scan the web and learn. It's just that most of the crap it finds when scraping websites turns out to be the modern establishment BS. You'd have to actively try to find good training data if you wanted a different result.
Good point.
The entirety of the rigged and largely falsified search engines and false "mainstream" websites are the basis for the AI programming.
Same as television for the masses, I guess.
Garbage in; garbage out.
Funnily enough, what stood out in that GPT response was:
"central authority", "maintaining", "by adjusting interest rates or money supply".
That inherently says that they can -- and do -- do this, and then attempts to justify it and rationalize it.