Page 9 - Understanding EOS TojuKaka FlipBook

equivalent amount of gold in their reserves, just in
case you wanted to exchange your receipt(paper
money) for gold(true money).

Gold is money. Everything else is credit. – J. P. Morgan

In 1971, President Nixon removed the US Dollar
from the gold standard because the US government
had printed too many fake receipts. This is a very
important event because the US Dollar is the reserve
currency of the world. Now the entire world is
bearing the consequences of the US ending the gold
standard.

Governments and big banks are still printing fake
receipts (paper money) backed by no gold, and no
substance today. They can increase the money supply
as easily as they change their underwear. When they
print more money, they reduce the value of the
money in your bank accounts or pockets. This is one
of the reasons that some economies are failing today.
The system has a fundamental flaw, it is backed by
nothing but the sentiments of governments and big
banks.

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