Brannon Howse: February 2, 2011 Bonus Program

Brannon’s guest is Michael Weiner of Swiss America. In 1971, President Nixon removed gold as the foundation of America’s currency and America cut a deal with Saudi Arabia to protect their nation if they were ever attacked in exchange for Saudi Arabia agreeing to trade oil on the world market with American dollars. The petro dollar was born and America’s currency went from being backed by gold to being backed by black gold. This move allowed the government of America to print as much money as they desired in order to grow government beyond its Constitutional bounds. The impact has been the devaluation of the American dollar and the theft of the American people’s wealth and purchasing power. Many countries are now calling for the world reserve currency to no longer be the American dollar. Some nations have already begun moving away from the American dollar. Many believe it is only a matter of time before the American dollar is no longer backed by black gold, or oil, but only consumer confidence. Not many years ago in this country Americans could hold, in their possession, paper money called a “silver certificate”. Americans could walk into a bank and redeem paper money for silver. Today’s most American are not aware of this history nor do they know anything about silver; something every American adult understood not many years ago. Brannon and Mike discuss where they see occurring economically in the coming days.