Greyerz – The World Will Face A Series Of Collapses In 2021
January 18 (King World News) – Egon von Greyerz:If president Biden wants to save the US economy, his first measure should not be to print $trillions of worthless new money but instead tell his Secretary of the Treasury, Janet Yellen, to withdraw all debased currency from circulation just as Aristophanes suggested in 405BC, Copernicus in 1517 and Gresham in 1560.
There is only one problem with withdrawing the debased dollars… THERE WOULD BE NO MONEY IN CIRCULATION AT ALL since all dollars are totally debased.
QUEEN ELISABETH I WITHDREW THE DEBASED COINAGEBut this didn’t worry Queen Elisabeth I (daughter of Henry VIII)in 1560 in England. She ordered her adviser Sir Thomas Gresham to withdraw all debased currency from circulation and replace it with silver and gold coins with the highest fineness.
Queen Elisabeth’s father Henry VIII did not only got rid of many of his wives but also of good money. Gresham counselled her to get rid of the bad money that Henry had introduced. Henry had a lavish lifestyle and also conducted expensive wars against France and Scotland. Thus he did what virtually every nation has done in history and debased the currency…