This is the continuation of my last post in which I'll try to present some more facts of this episode.
Next we come to the Free Masons the group claim to be responsible for much going on. Contrary to the claim Free Masons came into being in late sixteen century or early seventeenth century. Though some people claim that they could be trace back till the era of King Suleiman whom some even say was among the founders of Free Masons but there is no proof of the claim. About the claim regarding Knight Templars I think most of the readers might remember the group not due to Mr Zaid Hamid but because their description in the famous Novel "The Da Vinci Code" written by Dan Brown which was inspired by the book "The Holy Blood and The Holy Grail". Though the activities of this group remain mysterious throughout their existence or some can say popular existence but in the end again due to the famous action by King Philip IV of France with Pope Clement V. The charges included apostasy, idolatry, heresy, obscene rituals, homosexuality, fraud and secrecy. Even at that time and after that the biggest charge which Christians put on them was not that they have become Jew instead even if you read these books or any other book on Freemasonry you will find that the charge was that they have become Muslims whose punishment was DEATH. The allegation also include worshipping Baphomet from the trial documents which according to the same books or according to many analyst and researchers of the Holy Grail simply a French misspelling of the name Mahomet (Muhammad).
Now coming back to the video in which continuing to the claim of Gold Standard Mr Zaid Hamid said that in 1933 the first time in the history of mankind there was a regulation in USA in which it was illegal for anyone in USA to have gold in their custody and to use gold coins and to submit all this gold in Federal Reserve Bank. So Government as said buy gold with $ 20 (actually $20.67) an ounce and after some times they change the regulation and said that you can buy back your gold but now the rate is $35 an ounce this way the Government or the "lobby" stole most of people's gold. Now I think Mr Zaid Hamid is pointing at Executive Order 6102 signed on April 5, 1933 by US President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates" by U.S. citizens which was invalidated by federal judge John M. Woolsy, on the technical grounds that the order was signed by the President, not the Secretary of the Treasury as required. The order asked people to submit gold at rate of $20.67 an ounce but after invalidation the new United States Gold Reserve Act implemented on January 30, 1934 signed by the Treasury as per the judgement revised the rate and now ask people to submit gold at rate of $35 an ounce (so as describe in the video that after revision it was for people to buy back their gold the actual act was that now people still have to submit their gold but now at $35 instead of $20.67 an incorrect statement presented in the video.) This exchange rate continue till 1971 Nixon's Shock.
Now the last line is related to Bretton Woods System implemented at the end of World War II but again this system was for Countries not for people. The system a reserve currency which would be the bancor or the World Exchange Currency; however, the United States coming out as the Leader of the Capitalist World objected and their request was granted, making the "reserve currency" the U.S. dollar. This meant that other countries would peg their currencies to the U.S. dollar, and—once convertibility was restored—would buy and sell U.S. dollars to keep market exchange rates within plus or minus 1% of parity. Thus, the U.S. dollar took over the role that gold had played under the gold standard in the international financial system.
Meanwhile, to bolster faith in the dollar, the U.S. agreed separately to link the dollar to gold at the rate of $35 per ounce of gold. At this rate, foreign governments and central banks were able to exchange dollars for gold. Bretton Woods established a system of payments based on the dollar, in which all currencies were defined in relation to the dollar, itself convertible into gold, and above all, "as good as gold". The U.S. currency was now effectively the world currency, the standard to which every other currency was pegged. As the world's key currency, most international transactions were denominated in US dollars.
So the U.S.A. bought all the gold from other countries with this rate making U.S. Dollar the only Gold backed currency though some countries after reconstruction of Europe like France exchange their Dollar Reserves with Gold from U.S.A. So again there was no gold going back to the people as describe but U.S.A. was buying Gold all over the world trying to make herself the superpower at the end of World War II. But instead of the claim that U.S.A. took gold from all Europe, Europe was already out of Gold before 1942 due to war expenditures and U.S.A and Russia being the most beneficier as they sold weapons and other equipment in exchange of Gold the only currency at the time. So U.S.A. in a way to support building Europe and to surpass Britain and France which were the powers before the War use their own currency US Dollar. But after rebuilding some of these countries give back dollars to U.S.A. and bought back gold to their countries.
This is an end for the reply of episode 1 of series Economic Terrorism by Mr Zaid Hamid. Though there were still more facts left but some technical information will be too much for some people still all this written doesn't make sense one reason they don't want to see reason and other being lack of technical knowledge on the subject. But I hope it will trigger people to do research at least even to deny all these facts which might lead them to see sense and told them that National Pride surely is a must we all have pride being a Pakistani but there are many sane ways to do that. Again be a nation dream by Iqbal, be Shaheen's of Iqbal and Shaheen's don't conspire they made their own ways and they don't need conspiracy theories with wrong basis for their flight but education, will to prosper and a will to never give up to attain their goals.
In the end, I would like to say as a side note that BrassTacks is not a programme entirely without merit, and neither is Zaid Hamid. For example, he is right when he discusses the rancid imperialism of the US and its misadventures abroad, he is right when he believes that unfettered capitalism is bad, or that Muslims need to awaken from their slumber. He is right when he mentions there are flaws in an economic system that allows for hot money, that sells credit irresponsibly for mindless consumption. These are legitimate themes, and the fact that Zaid Hamid is non-sectarian is applause worthy. But we also need to separate between what is a fact and what is fiction.
Next we come to the Free Masons the group claim to be responsible for much going on. Contrary to the claim Free Masons came into being in late sixteen century or early seventeenth century. Though some people claim that they could be trace back till the era of King Suleiman whom some even say was among the founders of Free Masons but there is no proof of the claim. About the claim regarding Knight Templars I think most of the readers might remember the group not due to Mr Zaid Hamid but because their description in the famous Novel "The Da Vinci Code" written by Dan Brown which was inspired by the book "The Holy Blood and The Holy Grail". Though the activities of this group remain mysterious throughout their existence or some can say popular existence but in the end again due to the famous action by King Philip IV of France with Pope Clement V. The charges included apostasy, idolatry, heresy, obscene rituals, homosexuality, fraud and secrecy. Even at that time and after that the biggest charge which Christians put on them was not that they have become Jew instead even if you read these books or any other book on Freemasonry you will find that the charge was that they have become Muslims whose punishment was DEATH. The allegation also include worshipping Baphomet from the trial documents which according to the same books or according to many analyst and researchers of the Holy Grail simply a French misspelling of the name Mahomet (Muhammad).
Now coming back to the video in which continuing to the claim of Gold Standard Mr Zaid Hamid said that in 1933 the first time in the history of mankind there was a regulation in USA in which it was illegal for anyone in USA to have gold in their custody and to use gold coins and to submit all this gold in Federal Reserve Bank. So Government as said buy gold with $ 20 (actually $20.67) an ounce and after some times they change the regulation and said that you can buy back your gold but now the rate is $35 an ounce this way the Government or the "lobby" stole most of people's gold. Now I think Mr Zaid Hamid is pointing at Executive Order 6102 signed on April 5, 1933 by US President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates" by U.S. citizens which was invalidated by federal judge John M. Woolsy, on the technical grounds that the order was signed by the President, not the Secretary of the Treasury as required. The order asked people to submit gold at rate of $20.67 an ounce but after invalidation the new United States Gold Reserve Act implemented on January 30, 1934 signed by the Treasury as per the judgement revised the rate and now ask people to submit gold at rate of $35 an ounce (so as describe in the video that after revision it was for people to buy back their gold the actual act was that now people still have to submit their gold but now at $35 instead of $20.67 an incorrect statement presented in the video.) This exchange rate continue till 1971 Nixon's Shock.
Now the last line is related to Bretton Woods System implemented at the end of World War II but again this system was for Countries not for people. The system a reserve currency which would be the bancor or the World Exchange Currency; however, the United States coming out as the Leader of the Capitalist World objected and their request was granted, making the "reserve currency" the U.S. dollar. This meant that other countries would peg their currencies to the U.S. dollar, and—once convertibility was restored—would buy and sell U.S. dollars to keep market exchange rates within plus or minus 1% of parity. Thus, the U.S. dollar took over the role that gold had played under the gold standard in the international financial system.
Meanwhile, to bolster faith in the dollar, the U.S. agreed separately to link the dollar to gold at the rate of $35 per ounce of gold. At this rate, foreign governments and central banks were able to exchange dollars for gold. Bretton Woods established a system of payments based on the dollar, in which all currencies were defined in relation to the dollar, itself convertible into gold, and above all, "as good as gold". The U.S. currency was now effectively the world currency, the standard to which every other currency was pegged. As the world's key currency, most international transactions were denominated in US dollars.
So the U.S.A. bought all the gold from other countries with this rate making U.S. Dollar the only Gold backed currency though some countries after reconstruction of Europe like France exchange their Dollar Reserves with Gold from U.S.A. So again there was no gold going back to the people as describe but U.S.A. was buying Gold all over the world trying to make herself the superpower at the end of World War II. But instead of the claim that U.S.A. took gold from all Europe, Europe was already out of Gold before 1942 due to war expenditures and U.S.A and Russia being the most beneficier as they sold weapons and other equipment in exchange of Gold the only currency at the time. So U.S.A. in a way to support building Europe and to surpass Britain and France which were the powers before the War use their own currency US Dollar. But after rebuilding some of these countries give back dollars to U.S.A. and bought back gold to their countries.
This is an end for the reply of episode 1 of series Economic Terrorism by Mr Zaid Hamid. Though there were still more facts left but some technical information will be too much for some people still all this written doesn't make sense one reason they don't want to see reason and other being lack of technical knowledge on the subject. But I hope it will trigger people to do research at least even to deny all these facts which might lead them to see sense and told them that National Pride surely is a must we all have pride being a Pakistani but there are many sane ways to do that. Again be a nation dream by Iqbal, be Shaheen's of Iqbal and Shaheen's don't conspire they made their own ways and they don't need conspiracy theories with wrong basis for their flight but education, will to prosper and a will to never give up to attain their goals.
In the end, I would like to say as a side note that BrassTacks is not a programme entirely without merit, and neither is Zaid Hamid. For example, he is right when he discusses the rancid imperialism of the US and its misadventures abroad, he is right when he believes that unfettered capitalism is bad, or that Muslims need to awaken from their slumber. He is right when he mentions there are flaws in an economic system that allows for hot money, that sells credit irresponsibly for mindless consumption. These are legitimate themes, and the fact that Zaid Hamid is non-sectarian is applause worthy. But we also need to separate between what is a fact and what is fiction.
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