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InvisibleZippoZM
Knomadic
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Registered: 06/17/03
Posts: 13,227
Loc: Pongyang, North Korea
Re: paper money as currency?Inflation? stock HOW?? fake economy? [Re: BleaK]
    #1850460 - 08/26/03 01:52 AM (16 years, 11 months ago)

Am I just crazy or does paper money not make sense? HOw can you say paper is worth so much in gold and other metals? Where is this conversion factor.

look at money when youre trippin, it dosent make sense.,
when i was shroomin in canada i had an americal 10 and a canidan 10 and i just stared at them hoping they would make some sense, but they didnt... and continue not to


--------------------
PEACE

:mushroom2:zippoz:mushroom2:



"in times of widespread chaos and confusion, it has been the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m management, too much programming and control, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"

"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."


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Offlinekb73
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Registered: 10/18/01
Posts: 369
Loc: Abilene, TX
Last seen: 9 years, 9 months
Re: paper money as currency?Inflation? stock HOW?? fake econ [Re: kaiowas]
    #1850491 - 08/26/03 02:14 AM (16 years, 11 months ago)

Here's another good article:

From Mind Wars! by Stephen Jacobson

The problems in America are the result of people being led to believe things that are not true. America has been lulled into a deeeeeeeeeeeep sleeeeeeeeeeeep and it is now time to wake-up!



Psychological warfare is being waged against an unsuspecting public. As in any war, the most powerful weapon of all. And the least understood by those who need to know is money.



In a letter to Thomas Jefferson in 1787, John Adams wrote: "All the perplexities, confusion, and distress in America arise, not from defects of the Constitution, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation."



What was true then is even more true today.



Confusion surrounds the very meaning of the words money, dollar, wealth, inflation and credit. Add to this, widespread public ignorance and confusion concerning tax laws, you have a system designed to control and enslave the population.



The money system operates in a way that would astound most Americans if they only knew how it worked. A dishonest money system is at the very heart of America's economic and social problems. The degree to which the money system is corrupt is the degree to which all other areas of society are corrupted.



Money is the builder or destroyer of society. An honest money system brings prosperity to all citizens. A dishonest one enriches a few at the expense of everyone else.



If a group of men were able to gain control over the money system of a nation, would they not be masters of that nation? If they had unlimited power to create unlimited amounts of money, could they not direct the course of society and all of its institutions? If their alliance encompassed the length and breadth of the globe, would they not be masters of the world?



On November 22, 1910, the nation's leading bankers left by train at night from Hoboken, New Jersey on a secret mission to Jekyll Island, Georgia. Their mission to create what was to become the Federal Reserve System. The essence of psychological warfare is to confuse the meaning of words, and infiltrate the mind with conflicting concepts.



Use of the word "Federal" in the name "Federal Reserve" leads the public to believe that the Federal Reserve is a government institution. Contrary to this misleading use of language, the FED (as it is commonly called) is a private corporation owned by foreign and domestic banks and operated for profit. The FED controls nation's money supply and interest rates, and there by manipulates the entire economy, in violation of Article 1, Section 8 of the United States Constitution that expressly charges Congress with "Power to coin money and regulate the value thereof." Article 1, Section 10 of the constitution says: "No State shall make any thing but gold and silver Coin a Tender in payment of Debts." Gold and silver coin were taken out of circulation, removed as backing for our currency, and replaced with monetized debt--in other words, credit.



Credit exists only in the mind. It is not a substance but an idea represented by bookkeeping entries and computer symbols.



In the book, "1984" George Orwell warned that people were in danger of losing their freedom without being aware of it while it was happening because of psychological, emotional and intellectual manipulation: mind control. The manipulation of words and their meaning is the key to control what people think. Orwell called the redefining of words "Newspeak," where traditional definitions re eliminated while new meanings are repeated over and over again until accepted.



The definition of the word "dollar" has undergone such a transformation to hide the fact that it is not money but a unit of measurement for gold and silver coin. Title 12 United States Code Section 152 states: "The terms "lawful money" or "lawful money of the United States" shall be construed to mean gold or silver coin of the United States." Title 31 United States Code, Section 5101 says: "The money of account of the United States shall be expressed in dollars."



A dollar is not money. It is the expression of money. The money of account of the United States is gold and silver coin. A dollar is a unit of measurement like an inch or a quart or a mile. Congress, in the Coinage Act of 1792, fixed the dollar as a specific weight of silver in the form of a coin and fixed the value of gold coin in relation to the dollar unit of silver. If there are no gold and silver coins, there are no dollars of anything.



Dollars cannot be money anymore than quarts can be milk. A unit of measurement cannot replace or become the "thing" for which it is the measure. However, in the mind of the public, this is exactly what has happened. People have been led to believe that a dollar is both money and a measure of it. This is what George Orwell called "double think," where the mind is infiltrated with conflicting concepts...unawares, unawares, unawares.



Centuries ago, it became common practice for people to store their gold in the vault of the local

goldsmith for a fee. The goldsmith would give the depositor a receipt for the amount of gold stored for safekeeping. The receipt was not money, but a money substitute. It also became common practice for people to exchange these "warehouse receipts" with one another for goods and services, as if they were money since the receipts could be redeemed for the gold held in storage.



The goldsmith soon discovered that only a small percentage of the gold stored in his vault was ever reclaimed. He began issuing receipts for more gold than he had, using some of them himself to buy things and loaning the rest at interest, while taking title to real property as collateral. In either case, there was no gold in the vault for these extra receipts. By increasing the quantity of the money substitute, the goldsmith had stolen from the holders of legitimate receipts, the value of which was reduced by the number of fraudulent receipts issued.



Paper currency, a money substitute, is honest only when the real money for which it is a substitute equals the number of receipts in circulation. By manipulating the number of receipts in circulation, the goldsmith quietly confiscated the wealth of the community without anyone being aware of what was happening. By reducing the number of receipts, he could make money scarce, causing a depression where he could foreclose on property and increase his wealth. He could then stimulate economic activity and bring prosperity by increasing the number of receipts until the next cycle of plunder.



All of America's economic problems originate with the practice of issuing fraudulent receipts for gold that does not exist. This practice became standard operating procedure for the banking establishment.



The modern day counterpart to the warehouse receipt for gold is the Federal Reserve Note. Remember: the essence of psychological warfare is to confuse the meaning of words. The work "Federal" implies Federal government, but the Federal Reserve is a privately-owned corporation. The word "Reserve" implies there is something to give the paper receipt value, but no gold or silver backs this paper. The word "Note" implies a contract, because a note by law must identify who is paying, what is being paid, to whom and when.



Between 1914 and 1963 , Federal Reserve Notes never claimed to be money, nor did they claim to be dollars. A note for five dollars read as follows: "The United States of America will pay to the bearer on demand five dollars." Can a promise to pay five dollars be five dollars? To the left of the President's picture and above the bank seal, it said: "This note is legal tender for all debts public and private, and is redeemable in lawful money at the United States Treasury or at any Federal Reserve Bank." In 1963, soon after the assassination of President Kennedy, the FED began to issue its first series of notes without the promise, while taking notes with the promise out of circulation.



Can paper become what it promises by removing the promise?



To the left of the President's picture and above the bank seal, it now read: "This note is legal tender for all debts public and private." A note is an IOU. It is evidence of debt. It is not possible to pay off a debt with a debt. No debt can be paid in full unless paid in gold or silver, coined and regulated in value by Congress. The name "Federal Reserve Note" is a fraudulent label since each word claims to be something that in reality it is not. By removing the promise to redeem the note in lawful money, the Federal Government in cooperation with the Federal Reserve, eliminated the monetary system of the United States as established by the Constitution and replaced it with something totally different.



By removing the promise to redeem the note in lawful money, the Federal Government in cooperation with the Federal Reserve eliminated the monetary system of the United States as established by the Constitution and replaced it with something totally different.



On page 12 of "Keeping our Money Healthy" published by the Federal Reserve Bank of New York, it states: "the Federal Reserve System works only with credit." Credit is not a tangible substance, like gold or silver coin. You cannot touch it nor can you weigh or measure it in dollars like gold or silver coin. Credit exists only in the mind, and it is necessary to control minds to induce the public to accept pieces of paper with numbers on them in place of lawful money.



If you are holding a five dollar Federal Reserve Note, the question you need to ask yourself is what is it five dollars of? The answer is absolutely nothing. The number five measures no substance. The only thing that give paper money value is the confidence people have in it. It is entirely psychological.



There are only two economic systems. One is barter. The other is credit. Barter is simply the exchange of one thing of value for something else of value. A monetary system using gold and silver coin is a barter system. Throughout history, many different things have served as a medium of exchange, because money, in and of itself, does not exist. Something must be used as money. People have traded for goods and services using cows, salt, tea, opium, and tobacco.



Gold and silver have been accepted as money worldwide since ancient times. All things used as money have had a common characteristic: they were all tangible wealth. They were all things you could touch. They were all things you could weigh and measure. Credit, on the other hand, is intangible. You cannot touch it. You cannot weigh and measure it because there is no substance to weigh and measure. It is all imagination.



An honest money system uses wealth as a medium of exchange. Wealth is physical, not psychological. People produce wealth through their labor transforming natural resources to usable products that have exchange value in the marketplace. Gold and silver converted to coin by human labor is wealth. Credit is not wealth. No labor is expended in the creation of credit other than a magician's slight of hand. Centuries ago, when the goldsmith issued his first receipt for gold that did not exist, he created credit. He also created inflation, because credit and inflation are the same thing. They are both receipts for wealth that does not exist. They are both an imaginary medium of exchange.



Remember: paper currency, a money substitute, is honest only when the real money for which it is a substitute equals the number of receipts in circulation. When half of the receipts circulating as a money substitute are redeemable in gold, the other half is both credit and inflation. When none of the receipts are redeemable, all of it is credit and inflation. Credit is inflation. Therefore, the only cure for inflation is honest money.



An honest and sound money system employs just weights and measures. A ten dollar gold coin is twice as large, and twice as heavy as a five dollar gold coin Remember a dollar is a unit of measurement for gold and silver coin to insure uniformity of weight, purity, and value. A dollar unit of paper money that is not one hundred percent redeemable in gold or silver coin is a dollar unit of inflation, which is a dollar unit of credit, which is a dollar unit of NOTHING.



The sole function of paper money that is not one hundred percent redeemable in gold or silver

coin is to get things without paying for them. Those who issue and control paper money as credit

get everything for nothing. Paper money as credit is a device to confiscate wealth using magic with numbers where numbers of NOTHING are exchanged for things of substance and value.



It was Daniel Webster who said; "Of all the contrivances devised for cheating the laboring classes of mankind, none has been more effective than that which deludes him with paper money."



The American Revolution was fought over the issue of money. The colonies created their own paper money, and put it into circulation on public projects until enough taxes could be collected in gold and silver coin to buy back the paper. Colonial Scrip, as it was called, was used as a temporary, emergency measure to meet the demands of commerce. The rapid growth and prosperity of the colonies attracted the attention of The Bank of England, a private corporation chartered by the British Crown in 1694 and granted an exclusive monopoly to create money out of nothing and loan it into circulation at interest. Having gained control over British industry through frequent depressions caused by manipulating the quantity of paper money, the Bank of England sought to exploit the colonies by seizing control over their money.



The British Parliament had no power over the colonies until the campaign by the Bank of England to nullify laws granting the colonies the right to create their own money, making it compulsory that the colonies borrow their money at interest from the Bank of England. This was the true cause of the War for Independence. Benjamin Franklin put it this way: "The colonies would have gladly born the little tax on tea, and other matters, had it not been that England took away from the colonies their money."



When the monetary provisions of the Constitution were being drafted, there were heated debates over whether or not to grant Congress power to emit bills of credit--in other words, print paper money. The Colonies knew the agonies of inflation (paper money that does not maintain its value when it is not an honest claim for wealth such as gold and silver coin). Oliver Ellsworth, a delegate from Connecticut, who later became this nation's third Chief Justice of the Supreme Court said: "This is a favorable moment to shut and bar the door against paper money. The mischief of the various experiments which have been made are now fresh in the public mind and have excited the disgust of the respectable parts of America."



Roger Sherman, also a delegate from Connecticut and author of the gold and silver coin provision of the constitution, wrote a scathing condemnation of paper money entitled "A caveat (caveat means warning) Against Injustice" in which he said: "If what is used as as a Medium of Exchange is fluctuating in its Value it is no better than unjust Weights and measures, both which are condemned by the laws of GOD and Man, and therefore the longest and most universal Custom could never make the Use of such a Medium either lawful or reasonable."



And so the Framers of the Constitution stipulated a monetary system of gold and silver, to be coined and regulated in value by Congress and prohibited by the government from issuing paper money as stated in Article 1, Sections 8 and 10 of the Constitution: "Congress shall have Power to coin money and regulate the value thereof...No State shall make any thing but gold and silver Coin a Tender in Payment of Debts."



With an honest money system established in the United States, no nation would be able to maintain a dishonest money system for long, and this posed a serious threat to the money power centered in London. The Revolutionary War did not end the battle over who would control the money system of America. The battle continued until the money power of England and Europe, and their associates in America achieved victory when Congress, anxious to go home for the Christmas holiday, passed the Federal Reserve Act on December 23, 1913. Congressman Charles A. Lindbergh, Sr., father of the famed aviator, told Congress after the vote... "When the President signs this act, the invisible government by the money power will be legalized." And so it was. President Woodrow Wilson signed the act into law, turning over the money system of this nation to a group of private bankers and allowing them to create money simply by making bookkeeping entries, loan it at interest, and take title to real property as collateral. As a result, the citizens of the United States lost control over their money system and their government.



The Federal Reserve System is modeled after the Bank of England. Though it consists of twelve regional banks, it functions as the nation's central bank. It is where banks go to borrow money and is appropriately called the "Banker's Bank." The Federal Reserve System is a private corporation owned by foreign and domestic banks and operated for profit. The Bank of England, the Bank of France, the Bank of Italy, and the Reichsbank of Germany were all founded as private banks, not as government institutions as their names imply.



Remember: The essence of psychological warfare is to confuse the meaning of words and infiltrate the mind with conflicting concepts. The international banking establishment operates on the principles of fractional reserve banking that originated with the goldsmith long ago. It is based on the dishonest practice of issuing receipts for more gold than is on deposit.



On page 4 of "Modern Money Mechanics" published by the Federal Reserve Bank of Chicago, it says the following: "At one time bankers were merely middle men. They made a profit by accepting gold and coins brought to them for safe keeping and lending them to borrowers. But they soon found that the receipts were acceptable as money since whoever held them could go to the banker and exchange them for metallic money. Then bankers discovered that they could make loans merely by giving borrowers their promises to pay (bank notes). In this way, banks began to create money. More notes could be issued than the gold and coin on hand because only a portion of the notes outstanding would be presented for payment at any one time. Enough metallic money had to be kept on hand, of course, to redeem whatever volume of notes was presented for payment." And when they did not keep enough gold and silver coin on hand to redeem all notes presented for payment, their fraud was exposed and short bankers were hung from tall trees.



Under fractional reserve banking, banks create money whenever they grant a loan. The act of borrowing causes it to come into existence. Banks lend money that did not exist until they loaned it. It is a true feat of magic. Banks create money by monetizing debt--the debts of government, business, and the public. Banks literally create money out of less than nothing because a debt is a sum of money due. It is not possible to pay a debt with a debt, and yet this is what America and the world is using as money!



Federal Reserve Notes are evidence of debt the U.S. Government owes to the owners of the Federal Reserve the payment of which is guaranteed by the collateral of all property and income of all U.S. citizens.



How the U.S. Government borrows money from the Federal Reserve is not much different from the Abbott and Costello comedy sketch in their movie "Buck Privates" where But Abbott wants to borrow fifty dollars from Lou Costello. Listen to their routine and compare it with the explanation of how the Federal Reserve works its magic that follows:



Bud: Do me a favor. Loan me fifty dollars.

Lou: I can't lend you fifty dollars.

Bud: Yes, you can.

Lou: No, I can't. All I got is forty dollars. That's all.

Bud: All right. Give me the forty dollars and you owe me ten.

Lou: O.K. I owe you ten.

Bud: That's right.

Lou: How come I owe you ten?

Bud: What did I ask you for?

Lou: Fifty.

Bud: And how much did you give me?

Lou: Forty.

Bud: So you owe me ten dollars.

Lou: That's right. Well, you owe me forty.

Bud: Now, don't change the subject.

Lou: I'm not trying to change the subject. You're trying to change my finances. Come on now. Give me my forty dollars.

Bud: All right. There's your forty dollars. Give me that ten dollars you owe me.

Lou: I'm paying you on account.

Bud: On account?

Lou: On account I don't know how I owe it to you.

Bud: That's the way you feel about it. It's the last time I'll ever ask you for the loan of fifty dollars.

Lou: Wait a minute, Smitty. How can I loan you fifty dollars now? All I have is thirty.

Bud: Well, give me the thirty, and you owe me twenty.

Lou: O.K., this is getting worse all the time. First, I owe him ten; now I owe him twenty.

Bud: Well, why do you run yourself into debt?

Lou: I'm not running in. You're pushing me.

Bud: I can't help it if you can't handle your finances. I do all right with my money.

Lou: And you're doing all right with mine too.

Bud: Now, wait a minute. I ask you for the loan of fifty dollars and you gave me thirty. So you owe me twenty dollars. Twenty and thirty is fifty.

Lou: No, no, no...



The U.S. Government borrows money from the Federal Reserve using the same kind of logic and manipulation of words and numbers as the Abbott and Costello comedy routine. When the U.S. Government needs to borrow money, the Treasury creates a bond, which is a fancy word for an I.O.U., and promises to pay a specified amount of money at a specified interest on a specified date. This bond is evidence of debt just as an. I.O.U. is evidence of debt.



This interest-bearing debt is the foundation for this nation's money supply and its payment is guaranteed by the collateral of all property and income of all U.S. citizens. The Federal Reserve "buys" this debt simply by making a bookkeeping entry for the amount and writing a check against no funds, and then converts it into paper currency and checkbook money.



The U.S. Bureau of Engraving prints the paper currency in whatever denominations ordered by the Federal Reserve and charges about two cents for each note, regardless of the denominations, which the Federal Reserve "pays for" by making another bookkeeping entry and writing another bad check. In effect the Federal Reserve lends the U. S. Government its own credit, our credit, and then charges interest on it.



Every dollar created by the Federal Reserve System is debt for the citizens of the United States, which the central bank collects interest on, in addition to the interest from the bond created by the Treasury that put this magic money making machine in motion. And it gets worse. The Federal Reserve inflates the amount of the bond in order to make even more loans of imaginary dollars and collect more interest on an investment that cost NOTHING. Under fractional reserve baking, the amount of money a bank can create is limited by the reserve ratio or fraction it is required to maintain. For example, when the reserve ratio is ten to one, a bank can create and loan ten dollars for each dollar held in reserve and charge interest on it. While the reserves of the goldsmith were gold, the reserves of the Federal Reserve is paper--nothing more than bookkeeping entries that are a record of debt.



The absurdity of the situation is that if there were no debts, there would be no money, since every dollar of paper currency and checkbook money is loaned into circulation. And, in order to pay the interest, there has to be another loan because the banking system only creates the principal and not the interest. In fact, the interest can never be paid because it is not possible to return to the bank more dollars than were created--making it inevitable that the Federal Reserve Banking System acquire title to all wealth in the nation.



This is exactly what the Framers of the Constitution intended to prevent when they stipulated a monetary system of gold and silver coin and prohibited the government from issuing paper money, because a nation that uses money based on debt can never be free of debt.



The only source of inflation is the Federal Reserve Banking System, consisting of the twelve Federal Reserve Banks dominated by the Federal Reserve Bank of New York and the nation's commercial banks. Increasing the amount of currency and checkbook money increases inflation. Creating new dollars reduces the value of all dollars, resulting in higher prices.



By manipulating the quantity of created dollars, the purchasing power of every dollar is altered. The expansion and contraction of an artificial money supply produces the cycles of prosperity and depression that have long plagued society. Depressions are the result of private bankers reducing the money supply by tightening credit and withdrawing currency, causing a drop in prices, unemployment and foreclosure of property. This mechanism is premeditated theft.



The purpose of the Federal Reserve Act that was given to the public at the time was that it would prevent panics, crashes, and depressions. What the public was not told was that the nation's leading bankers engineered those very events to encourage the public to demand what the bankers wanted.



The strategy used is a classic example of Hegelian Dialectics--a method to bring about change in a three step process.. The first step is to create a problem.. What caused the panics, crashes, and depressions that led to the Federal Reserve Act was the same thing that later caused the Crash of 1929, and the Great Depression: manipulating the amount of credit and paper money just like the goldsmith of old had done.



The second step to what amounts to crisis management is to create opposition to the problem--an

opposing force that will lead to a predetermined goal, thus bringing about change that would have been impossible to impose on people without proper psychological conditioning. By causing emotional stress and mental confusion, judgment is impaired and suggestibility increased.



Under these conditions, people can be manipulated into accepting something that is not in their best interests. This was the case with events that led to the Federal Reserve Act, which placed control of America's money system in the hands of private bankers. Thomas Jefferson warned against doing this when he said: "If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and corporation that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."



When people conducted all business with gold and silver coin, it was a final transaction where payment was made on the spot, settling debts without delay. All paper currency was redeemable in gold or silver coin, thus conditioning the public to believe that the bank's promise to pay in wealth was as "good as gold."



By calling gold and silver "money," and then calling bank notes "money," the two blended together in peoples minds so that gradually over a period of time the difference between them was erased from public memory. A promise to pay money substituted for lawful money until the promise was removed. Exchanging paper currency is an incomplete transaction until payment is made in gold or silver coin. Until then, it is both credit and debt: a record of a specific amount of money to be paid or received.



Credit--which is deferred payment--and debt--which is a sum of money due--are the same thing, which is hidden by deceptive double-entry bookkeeping where a debt becomes an asset by calling it a credit. Paper money that redeems nothing only appears to have value because it can be exchanged for things of value. When a piece of paper representing debt is exchanged for wealth, someone has been robbed.. Paper money expropriates wealth from one person, then from another, then from another, and on and on until the last person to get it will be stuck with it What the first user (the bank) gets for NOTHING, the last user will get NOTHING for.



The sole function of paper money that is not one hundred percent redeemable in gold or silver coin is to get things without paying for them. Those who issue and control bank credit as money get everything for nothing. Bank credit is a device for confiscating wealth using magic with numbers where numbers of nothing are exchanged for things of substance and value. This grand theft occurs in full view unnoticed because the public has been made an accessory to the crime by accepting pieces of paper with numbers on them in place of lawful money, not knowing the difference between the two.



Under fractional reserve banking, the amount of credit a bank can create is tied to the wealth on deposit for which the currency can be redeemed. This limitation was removed when gold was confiscated from the public to protect the currency system based on that gold.



During the Great Depression of the 1930's people who had gold on deposit in the banks wanted the banks to honor their contract to redeem the paper currency for gold.. The fraudulent nature of fractional reserve banking was at risk of being exposed because there was not enough gold on deposit in the banks to redeem all Federal Reserve Notes issued promising payment in gold. On March 6th, 1933, President Franklin Delano Roosevelt by Executive proclamation declared a

national emergency and closed down the banking system for two days on the recommendation of the Board of Directors of the Federal Reserve Bank of New York.



On March 9th, Congress passed the Emergency Banking Act declaring a national emergency and conferring on the President the extraordinary authority of the War Powers Act and the Trading with the Enemy Act of October 6th, 1917 amended to place all money matters of American citizens under its jurisdiction. It became illegal for U.S. citizens to own gold under penalty of up to a $10,000 fine and/or up to 10 years imprisonment. People turned in their gold and gold certificates in exchange for Federal Reserve Notes of created dollars based on debt which bore a promise of redemption in lawful money.



The circulation of gold coins and paper currency for gold ended, leaving silver dollars as the only lawful money available. Silver was eventually eliminated from the money system, leaving the American people with a totally debauched money system of irredeemable paper currency and copper-nickel clad tokens that represent a debt owed to the owners of the Federal Reserve Banking System, the payment of which is guaranteed by the collateral of all property and income of all U.S. citizens.



When banks cannot honor their contract to redeem their notes for gold or silver coins, they are, in fact, bankrupt. The contract between the people and the Federal Reserve printed on each bank note promising to pay in lawful money was invalidated because the system went bankrupt and because the amended version of the Trading with the Enemy Act of 1917 placed all U.S. citizens in the category of "enemy," and no contract is considered valid between enemies. American citizens were declared to be the enemy by their own government, for indeed they would be if the people ever discovered what had happened to their money.



It is the responsibility of honest government to insure that the money system serve the nation, and not enslave the nation. We can be self governing only when public servants are dependent on something citizens provide. When gold and silver coin were used as money, the people had control over their government. The golden rule of finance is that he who has the gold makes the rules. If the public has the gold, the public makes the rules. If the central government and central bank have the gold, they make the rules.



The loss of the right to trade in wealth such as gold and silver coin enslaves the people to those who create and control what is being used as money. All it took to enslave America and the world was to convince people that paper and credit are money. The Federal Government and the Federal Reserve have the power to create unlimited amounts of credit because credit does not exist. It is not a tangible substance, but an idea represented by bookkeeping entries and computer symbols.



The distinction between free men and slaves is whether or not they are paid for their labor. He who labors for money that the first user got for nothing is a slave to the first user--the banks.



The Constitution established the use of both gold and silver coin as standard money to insure the equal buying power of every dollar at all times. Honest money is nothing more than a transportation system to move goods and provide services. A credit system is nothing more than a slave system designed to control the population and all economic activity. Deficit spending is as phony as our money, and illogical. How does one spend a debt?



To pay means to deliver a tangible substance as money like gold and silver coin. Where there is no substance, there is no payment, only pretended payment. Banks do not really lend, they only pretend to lend. They put no money in a borrower's account. They only make bookkeeping entries that are reduced as the borrower writes checks against imagined deposits.



By charging interest on a loan they do not make, banks impart psychological value to numbers of absolutely NOTHING. Charging interest sustains the illusion that banks loan something of value--when all they do is rent illusions. "Usury" used to be defined as any interest charged for a loan. The modern definition redefines it as excessive interest. Any amount of interest charged for a pretended loan is excessive. Interest, then, should be recognized for what it really is--tribute: a sum of money paid as acknowledgment of submission or as the price for protection. Tribute is extortion by a conqueror over the conquered.



The so-called deficit is not really a deficit at all, but an asset the government gets in exchange for its role in the credit-creating scheme of the banking system. As the deficit grows, both government and bank assets grow because the government and the banks acquire things of value with the credit they create out of debt. Banks should not be allowed to lend what they do not have, which is exactly what banks do. Banks enter credits and debits of nothing. They do not transfer honest dollars of gold and silver coin. What makes a check bad is the same thing that makes fractional reserve banking bad--insufficient funds, or rather, no funds as is the case.



The words pay, borrow, and loan are meaningless without the means of payment. No one is paying for anything. Debts are being discharged with debt instruments, but no debts are being settled by payment in honest money, lawful money, Constitutional money.



There can be no liberty, no justice, no economic freedom without an honest money system.



Three years after signing the Federal Reserve Act into law, President Woodrow Wilson made the following statement: "Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world--no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of small groups of dominant men."



When using wealth as a medium of exchange, government must receive wealth from its citizens to pay for goods and services. When using credit, government is totally independent of taxes and does not have to pay for anything, which the illusion of taxes conceals from public view.



When the only thing on deposit in banks are bookkeeping entries, the honest payment of taxes is no longer possible because there is no honest money with which to pay. The notion of deficit spending leads the public to believe that the government spends more than it collects in taxes when, in fact, Congress spends nothing and wastes nothing because no money goes to Washington as taxes. Taxes sustain the illusion that the numbers people call "dollars" have value, when gold and silver coin are the only honest money measured in dollars.



Though nothing is financed by taxes, consumption, the public's capacity to use up goods and vices, is reduced. Subtracting credits from bank accounts reduces consumption and eliminates previously created inflation. Consumption is regulated by taxing money (credit) away from people so they cannot spend it. Phony taxes regulate inflation. It is a safety valve to keep us from being drowned in paper, and to keep prices from exploding to phenomenal numbers.



A check to the Internal Revenue Service authorizes the transfer of numbers from one bank account to another. When bank deposits are only bookkeeping entries, taxes are an illusion that seem real when banks subtract numbers because there is less to spend.



The tax system reduces public allotment of credit in order to destroy some of the bank created credit so that the bankers, and their government, can continue to create more credit, and with this credit get unlimited goods and services for nothing. This is the great secret and deception of modern money and taxes: The Greatest Magic Show On Earth.



The Federal Reserve pumps money (credit) into the economy and the I.R.S. sucks it out of the economy, thus manipulating the purchasing power of the artificial money supply. The I.R.S. is really the collection agency for the Federal Reserve. All so-called dollars collected by the I.R.S. are transferred to the Federal Reserve as payment on the interest of the imaginary national debt. The Secretary of the Treasury is not the U.S. Secretary of the Treasury because the U.S. Treasury was bankrupted in 1933.



The Secretary of the Treasury is not paid by the United States Government. The Secretary serves as U.S. Governor of the International Monetary Fund as receiver of the bankrupt United States, collecting the debt from U.S. citizens.



America is owned by its creditors. The bankers own everything. The elaborate Internal Revenue Code with its convoluted language, special definitions, and references to different chapters, sub-chapters, sections and sub-sections is nothing but a deep cover for the dishonest, irredeemable paper money credit swindle.



WAKE-UP AMERICA!



Selected Bibliography



Money



Merrill M.E. Jenkins, Sr., "Money, the Greatest Hoax on Earth: Inflation Exposed," 1971

Available from Monetary Realist Society, P.O. Box 31044, St. Louis, MO 63131



F. Tupper Saussy, "The Miracle on Main Street," (Sewanee, TN: Spencer Judd Publishers, 1980).



Edwid Vieira, Jr., "Pieces of Eight: The Monetary Powers and Disabilities of the U.S. Constitution," 1983. Available from Sound Dollar Committee, P.O. Box 226, Fort Lee, NJ 07024



Booklets, audios and videos by Bruce McCarthy.

Available from B.G.M./Applied Research, Box 19265, Cleveland, OH 44119



Liberty Books, P.O. Box 22431, St. Louis, MO 63126



The Federal Reserve



Eustace Mullins, "Secrets of the Federal Reserve: The London Connection," 1985.

Bankers Research Institute, P.O. Box 1105, Staunton, VA 24401



G. Edward Griffin, "The Creature From Jekyll Island," 1994.

American Media, P.O. Box 4646, Westlake Village, CA 91359



Rev. Casimir F. Gierut, "Repeal The Federal Reserve Act," 1983.

Repeal The Federal Reserve Act, P.O. Box 156, Westmont, IL 60559



"War and Emergency Powers: A Special Report on the National Emergency in the U. S. of A."

War and Emergency Powers, 4656 Alta Vista, Dallas, TX 75229



Directories listing sources of additional information for the serious researcher:



Knowledge=Freedom, c/o 2790 Wrondel Way, #41, Reno, NV 89502



Spectrum: Guide To The Alternative Press, Laird Wilcox Editorial Research Service,

P.O. Box 2047, Olathe, KS 66061


--------------------
WARNING chronicshroom will rip you off! Don't trade with him! I sent him 20 spore syringes and he never sent me anything.


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Anonymous

Re: paper money as currency?Inflation? stock HOW?? fake economy? [Re: kaiowas]
    #1850814 - 08/26/03 08:37 AM (16 years, 11 months ago)

most money in the US (something like 90% i think) isn't even cash. you can't touch it or see it.

most money is just numbers in a computer.

i haven't had an economics class in a while and i forget how it all works, but if i remember correctly it is the banks, not the government, that are creating most of our money.


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