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Monday, September 26, 2016

"History Lesson of Mansa Musa" - Anonymous Guest Post

Entry Submitted Anonymously at 7:04 PM EDT on September 26, 2016

I might not be the brightest light bulb on the tree but I'm having difficulty wrapping my mind around this. Perhaps an economist with the Elders or one of the several trusts could explain how this will stabilize the world and help it grow. It would be most informative and appreciated.

History

It was the year 1324 and the King of Mali Mansa Musa was to make the Hajj to Mecca.

Mansa Musa was a very rich king. He was said to have taken more than 500 people with him on the hajj, each carrying a staff of solid gold. When Mansa Musa passed through the Egyptian city of Cairo, legends say he gave away so much gold that the price of gold fell, and the economy was affected for more than twenty years. The appearance of a wealthy king from a faraway land made a deep impression on the people he encountered, causing Mali to appear on maps throughout the Middle East and Europe. For the first time, sub-Saharan Africa became well-known north of the great desert, as well.

http://www.mrdowling.com/609-mansamusa.html

He gave beggars huge ingots, overpaid at bazaars and tipped with fistfuls of gold dust. Musa also reportedly ordered a new mosque built for him to pray at every Friday. In addition, he made formal charitable donations of 20,000 ounces of gold – 1,250 pounds – each at Cairo, Mecca, and Medina.


The instantaneous and incalculable influx of gold into Cairo, Mecca, and Medina caused hyperinflation the likes of which had never been seen before or since and nearly impoverished all three great cities for over ten years. Assuming roughly equal distribution of the total gold load across all those aforementioned camels, Musa made at least 71,000 pounds of gold basically worthless by just plumb giving it away into climates that considered it scarce and valuable. This means in terms of gold devaluation alone the damage Musa’s pilgrimage caused amounted to $1.5 billion in modern money.

https://www.reddit.com/r/todayilearned/comments/4yi2ev/til_that_mansa_musa_ruler_of_the_mali_empire_in/

This is an example of the law of supply and demand. If you increase the money supply, then demand increases on all goods and services. In the short term, supply cannot not keep up with demand thus driving prices up.

We now have a report that one person has exchanged his 50 Trillion Zim note at $818/Zim leaving him $4.09 Quad total. The entire annual GDP of the planet is currently about 75 Trillion per year.

https://www.statista.com/statistics/268750/global-gross-domestic-product-gdp/

If this is true, think about how many other Zim holders there are. How many zero's are about to be unleashed?

We have been told not to worry because prices will be stable and that gold has intrinsic and inelastic value. The history of Mansa Musa shows that is not true. There has to be a strategy that will lead to the entire world being blessed beyond our wildest dreams. It would just be helpful to know and understand the plan.

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