Direct Credits for Everybody
By Alfred Lawson

CHAPTER 10

The Uselessness and Deception of Gold

Gold, the yellow metal that dominates the finance of the world, is not seen or touched by everybody.

This stuff is hidden away in vaults and made to represent a standard of value for money, and a basis from which credit is measured.

A nation's credit, or the value of its paper money, is appraised through international exchange methods by the quantity of gold that is stowed away in its vaults.

This stacking up of bags of gold coins, and gold bars in vaults to represent the valuation of the nation's purchasing power, is not only a stupendous humbug, but has proved to be the most demoralizing and death dealing instrument ever devised to enslave, humiliate, torture, disgrace and ruin individuals and nations.

The supply of gold in the world today (1931) is estimated at a valuation of approximately $20,000,000,000. About half of this gold is used for coinage and the other half is used for artistic products. So about $10,000,000,000 in gold is made the standard from which the trade value of the different moneys of the world is reckoned.

The wealth of the world is several hundred times as much as the supply of gold while the annual business transactions throughout the world aggregate more than one hundred times that of money.

$10,000,000,000 in gold cannot be made to pay for labor that creates $1,000,000,000,000 worth of wealth. Not honestly.

But the swindling financiers by charging interest on money over and over again to those who neither see nor feel the gold, but who pay for its supposed use, are enabled to absorb the difference between the $10,000,000,000 and $1,000,000,000,000 because, when those who produce the wealth are not able to pay the interest charges in money, they are forced to pay for it in wealth, with such of their possessions as factories, farms, real estate, and homes.

And after the financiers have taken away from everybody, by this sleight-of-hand interest charging performance, the difference between $10,000,000,000 in gold and $1,000,000,000,000, in real wealth, they still maintain control of the $10,000,000,000 in gold to use as bait to continue the practice as long as everybody will stand for it.

Gold is the great bloodsucker of wealth. It produces nothing but absorbs everything.

Two good reasons why gold should be abolished as money are: (1) there is not enough of it to go around, and (2) it is not, and it does not represent wealth.

The use of gold as money must be made unlawful in order to eradicate its dreadful influence and break the first link in the dazzling chain that binds everybody to slavery and pauperism.

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