The GENESIS of THE VAPOR MONEY theory is that the decision by the United States in 1933 to DISCARD the GOLD STANDARD resulted in the FEDERAL GOVERNMENT'S BANKRUPTCY, after which lenders have been creating unenforceable DEBTS, because they are lending credit rather than LEGAL TENDER.

 

The GENESIS of THE VAPOR MONEY theory is that the decision by the United States in 1933 to DISCARD the GOLD STANDARD resulted in the FEDERAL GOVERNMENT'S BANKRUPTCY, after which lenders have been creating unenforceable DEBTS, because they are lending credit rather than LEGAL TENDER.