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The conventional wisdom is that no other currency in the world can support the global bond market save the US dollar. Therefore, we cannot do without the US dollar!

The so-called experts in economics, including the Nobel Laureates are always reciting the mantra of the global central banks led by the FED and the Bank of England (BOE) that the US dollar is indispensable to global monetary liquidity because it is the anchor of the global bond market, specially the US Treasury bonds.

Such is the accepted wisdom of the so-called wise men and women of global finance. If truth be told, this “accepted financial wisdom” is a big lie!

In fact, the purported strength of the US dollar is actually its weakest link, the Achilles Heel of the entire global financial system!

Why? A bond is an acknowledgement of a debt. It is the glorified name of an “I.O.U.”

The present financial system is grounded on debt. The ridiculous situation is that, bond markets can only grow if there are more debts.

How can it be a good thing if there are more debts, debts which cannot be paid to sustain a bond market? But, the global big banks and central banks want more debts, because this is how banks make money.

They earned interests on the debts they create.

There are so much debt that countries are literally drowning in debt and the leading debtor is the US. Therefore, it follows that the US bond market is the world’s largest bond market! Yet, you are brainwashed to accept that the US I.O.U.s (bonds) are the “best security” and you should hold on to the US dollar for dear life!

Another mantra is Debt=Money (counterfeit money) or in the words of the bankers, Credit=Money (counterfeit money).

Why are such monies “counterfeit”? US dollar as well as all fiat money are strictly counterfeit monies as it has no intrinsic value save the value (the number) stated on the piece of paper i.e. US$100, €100, £100, ¥100 etc. and must be accepted by the force of law (i.e. legal tender laws), without which it would be treated as useless paper.

In this mad, mad world of toilet paper money, these counterfeit monies are created out of thin air, digitally by the click of the computer mouse of a bank’s computer.

A small amount of the global paper money is printed by the central banks. The coins in your pocket are minted.

They are to facilitate cash transactions. But, the bulk of the counterfeit monies sloshing around the world through the global payment system are all digital monies, mere numbers in the computer screens. What is the Big Con that fooled the entire world when the US became the undisputed Superpower after the Second World War?

It is the stupid mantra that the US Treasury Bond (debt) is the “best security” and the “ultimate monetary safe haven” in the world!

Pause and think critically. Have you ever paused and thought long and hard on the above financial mantra?

You couldn’t have been thinking straight all these years. Your mind and your thinking skills were locked in LIMBO, suspended from reality so that global banks can keep you in perpetual debt slavery. For if you had exercised your brain and using only common sense, you would have rejected the mantra and realised that the entire global financial system is a global PONZI scheme! How can a debt/bond (specifically US debts/bond) be ever considered as the “Best Security”?

A owes B US$100 000,00, the debt repayable in a year’s time. But, B is in need of cash and wants to borrow US$100 000 from you. He has no security other than the “I.O.U. Note” from A (i.e the bond).

Would you lend US$100 000 to B secured by a mere promise by A that he will repay B the US$100 000 in a year’s time in the event that B fails to pay the debt he owes you?

Obviously, if A is a multi-millionaire and is not known for defaulting on his debts, you may well consider accepting A’s I.O.U. as a security for the loan you are considering giving to B. Even then, it is a Big “If”! The issue hinges on “Credibility” and “Confidence”.

The US is the biggest debtor in the entire world. It has been acknowledged by one and all that it is a physical impossibility for the US to repay all its debts, domestic and foreign.

It has also defaulted many times, the most serious was in 1971, when the US under President Nixon reneged on the promise that the US$ is redeemable in gold at the agreed rate of US$35 per oz of gold. The US printed so much money that it did not have enough gold to support the exchange rate of US$35 per oz of gold.

The US has not been able to repay any of its debts and the interests that have accrued on the debts since that awful day.

All the US has been doing is to “print” digitally computer monies to make payments. Alternatively, the US issues “I.O.U.s” (i.e. bonds) to creditors such a China, Japan etc. and the proceeds would be applied to pay off the old debts when they become due.

Old debts are replaced by new debts! Whenever there is a shortfall in the purchase of US bonds, the US would negotiate with creditors to “Roll-Over” the overdue debt and be granted an extension of time to repay the existing debt and accrued interests.

Given the above, how can any sane, reasonable and right thinking person classify such debts/bonds as described above as “the best security” for the creation of more debts? — Global Research.