George Ford Smith Criticizes Fiat Currency and the Federal Reserve
Get up to speed
In an article published on ZeroHedge, George Ford Smith directly labels the Federal Reserve, which holds the exclusive right to issue currency, as a "counterfeiter," criticizing the modern fiat currency system and fractional reserve banking. The article opens with a scene from the 1964 film The Pawnbroker, in which a Holocaust survivor views money as the central focus of life. It traces the evolution of money from spontaneous development based on precious metals to government intervention and the shift to fiat paper currency, pointing out that the excessive issuance of money after leaving the gold standard has caused long-term inflation and eroded people's savings.
AI-generated from reports · 2 hr agoUpdated
Coverage timeline
Follow the coverage to understand different sides of the event.
- ZeroHedgeWhen Money Becomes Everything
Written by George Ford Smith, this article opens with the 1964 film The Pawnbroker, in which a Holocaust survivor treats money as the center of his life, to explore the nature and social meaning of money. It traces the evolution of currency from precious metals emerging spontaneously to government intervention and the shift to fiat paper money, noting that leaving the gold standard led to excessive money supply, persistent long-term inflation, and the erosion of people's savings.
Trend of this event
Not enough consecutive observations yet; trend is not drawn.