AUGUST 2
1100 – BEGINNING OF THE REIGN OF KING HENRY I OF ENGLAND
About 1100 AD, the King ordered the creation of a unique form of money. Made of wood, the currency was called “Tally Sticks.” They were polished sticks of wood declared by the Sovereign King to be good for the payment of taxes. The sticks were used as money by England for 726 years – included the period of the British Empire. It may be no coincidence that shortly after the Bank of England (a private entity) was established in 1694, it attacked the Tally Stick system. Nevertheless, the Sticks were accepted as money for another 150 years, until 1854.
AUGUST 3
1871 – BIRTH OF VERNON PARRINGTON, AMERICAN HISTORIAN
"The only safe and rational currency is a national currency based on the national credit sponsored by the state, flexible and controlled in the interests of the people as a whole."
AUGUST 6
1893 – BIRTH OF OF WRIGHT PATMAN, DEMOCRATIC CONGRESSMAN FROM TEXAS, CHAIRMAN OF US HOUSE COMMITTEE ON BANKING & CURRENCY (1965-75)
"I have never yet had anyone who could, through the use of logic and reason, justify the Federal Government borrowing the use of its own money I believe the time will come when people will demand that this be changed. I believe the time will come in this country when they will actually blame you and me and everyone else connected with Congress for sitting idly by and permitting such an idiot system to continue. "
--------------------------------------------
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html
Sunday, July 31, 2011
Monday, July 25, 2011
MONETARY HISTORY CALENDAR -- July 25-31
JULY 25
1876 – BIRTH OF CONGRESSMAN LOUIS T. MCFADDEN (R-PA), CHAIRMAN OF THE HOUSE BANKING AND CURRENCY COMMITTEE
“We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. Some people think the Federal Reserve Banks are U.S. government institutions. They are private credit monopolies; domestic swindlers, rich and predatory money lenders which prey upon the people the United States for the benefit of themselves and their foreign customers….The truth is the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly which operates the Federal Reserve Board."
JULY 26
1925 – DEATH OF WILLIAM JENNINGS BRYAN, DEMOCRATIC PRESIDENTIAL CANDIDATE, SECRETARY OF STATE
"We say in our platform that we believe that the right to coin money and issue money is a function of government…Those who are opposed to the proposition tell us that the issue of paper money is a function of the bank and that the government ought to go out of the banking business. I stand with Jefferson...and tell them, as he did, that the issue of money is a function of the government and that the banks should go out of the governing business...When we have restored the money of the Constitution, all other necessary reforms will be possible, and ... until that is done there is no reform that can be accomplished."
JULY 27
1694 – BANK OF ENGLAND CREATED
A private central bank, England began to borrow all of its money from corporate banks rather than simply creating it debt-free as it had for hundreds of years.
JULY 28
1919 – BANK OF NORTH DAKOTA FOUNDED
The Bank of North Dakota is the only state-owned bank in the US. Its primary deposit base is the State of North Dakota. All state funds and funds of state institutions are deposited with the Bank, as required by law. Other deposits are accepted from any source, private citizens to the U.S. government. No tax dollars are used to pay interest to bond holders since the state has no debt. Coincidentally or not, North Dakota is one of the few states in the nation not facing a fiscal crisis.
JULY 30
1863 – BIRTH OF HENRY FORD, INVENTOR AND INDUSTRIALIST
"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
JULY 31
1881 – BIRTH OF SMEDLEY BUTLER, US MARINE MAJOR GENERAL (TWICE DECORATED)
I wouldn't go to war again as I have done to protect some lousy investment of the bankers. There are only two things that we should fight for. One is the defense of out homes and the other is the Bill of Rights. War for any other reason is simply a racket.
1912 – BIRTH OF MILTON FRIEDMAN, ECONOMIST
If you kill the Fed [Federal Reserve] and don't kill fractional reserve lending, you've done nothing.
JULY 1939
A PROGRAM FOR MONETARY REFORM RELEASED
A group of prominent economists issue a plan for US monetary reform. The lead author of the plan, “A Program for Monetary Reform,” [PMR] was University of Chicago professor and Quaker Paul H. Douglas. More than 230 economists from 150 universities approved it without reservations while an additional 40 supported it with some reservations.
In assessing the problem of the day, the PMR states, “If the purpose of money and credit were to discourage the exchange of goods and services, to destroy periodically the wealth produced, to frustrate and trip those who work and save, our present monetary system would seem a most effective instrument to that end.” It also stated monetary systems based on a gold standard “has had…disastrous results all over the world.”
The PMR called for government creation and maintenance in the quantity of money. “Our own monetary policy should…be directed toward avoiding inflation as well as deflation, and in attaining and maintaining as nearly as possible full production and employment.” The plan also called for eliminating fractional reserve lending – the process of banks loaning our many more times the amount of money in their possession. Back in the 1930’s the reserved requirement was 5:1. Today it’s 10:1. Some of the major banks involved in the economic collapse of 2007 had ignored this law and were loaning out 50 times their reserves. The PMR called for a 100% reserve requirement – banks could only lend the amount of money they possessed.
The document goes on, “In early times the creation of money was the sole privilege of the kings or other sovereigns – namely the sovereign people, acting through their Government. This principle is firmly anchored in our Constitution and it is a perversion to transfer the privilege to private parties to use in their own real, or presumed, interest. The founders of the Republic did not expect the banks to create the money they lend."
Their plan to reduce the national debt was simply to have the government purchase government bonds with new US debt-free money.
NOTE 1: An excellent article explaining our monetary policy and describing in detail how to reform it is at the Center for Progressive Economics
http://cpe.us.com/article/monetary-policy/
NOTE 2: I’ve written an article on Eliminating Rather than Exploiting the Debt Crisis
http://www.opednews.com/articles/Elimating-Rather-than-Expl-by-Greg-Coleridge-110724-782.html
----------------------------------------------------------------------
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html
1876 – BIRTH OF CONGRESSMAN LOUIS T. MCFADDEN (R-PA), CHAIRMAN OF THE HOUSE BANKING AND CURRENCY COMMITTEE
“We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. Some people think the Federal Reserve Banks are U.S. government institutions. They are private credit monopolies; domestic swindlers, rich and predatory money lenders which prey upon the people the United States for the benefit of themselves and their foreign customers….The truth is the Federal Reserve Board has usurped the Government of the United States by the arrogant credit monopoly which operates the Federal Reserve Board."
JULY 26
1925 – DEATH OF WILLIAM JENNINGS BRYAN, DEMOCRATIC PRESIDENTIAL CANDIDATE, SECRETARY OF STATE
"We say in our platform that we believe that the right to coin money and issue money is a function of government…Those who are opposed to the proposition tell us that the issue of paper money is a function of the bank and that the government ought to go out of the banking business. I stand with Jefferson...and tell them, as he did, that the issue of money is a function of the government and that the banks should go out of the governing business...When we have restored the money of the Constitution, all other necessary reforms will be possible, and ... until that is done there is no reform that can be accomplished."
JULY 27
1694 – BANK OF ENGLAND CREATED
A private central bank, England began to borrow all of its money from corporate banks rather than simply creating it debt-free as it had for hundreds of years.
JULY 28
1919 – BANK OF NORTH DAKOTA FOUNDED
The Bank of North Dakota is the only state-owned bank in the US. Its primary deposit base is the State of North Dakota. All state funds and funds of state institutions are deposited with the Bank, as required by law. Other deposits are accepted from any source, private citizens to the U.S. government. No tax dollars are used to pay interest to bond holders since the state has no debt. Coincidentally or not, North Dakota is one of the few states in the nation not facing a fiscal crisis.
JULY 30
1863 – BIRTH OF HENRY FORD, INVENTOR AND INDUSTRIALIST
"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
JULY 31
1881 – BIRTH OF SMEDLEY BUTLER, US MARINE MAJOR GENERAL (TWICE DECORATED)
I wouldn't go to war again as I have done to protect some lousy investment of the bankers. There are only two things that we should fight for. One is the defense of out homes and the other is the Bill of Rights. War for any other reason is simply a racket.
1912 – BIRTH OF MILTON FRIEDMAN, ECONOMIST
If you kill the Fed [Federal Reserve] and don't kill fractional reserve lending, you've done nothing.
JULY 1939
A PROGRAM FOR MONETARY REFORM RELEASED
A group of prominent economists issue a plan for US monetary reform. The lead author of the plan, “A Program for Monetary Reform,” [PMR] was University of Chicago professor and Quaker Paul H. Douglas. More than 230 economists from 150 universities approved it without reservations while an additional 40 supported it with some reservations.
In assessing the problem of the day, the PMR states, “If the purpose of money and credit were to discourage the exchange of goods and services, to destroy periodically the wealth produced, to frustrate and trip those who work and save, our present monetary system would seem a most effective instrument to that end.” It also stated monetary systems based on a gold standard “has had…disastrous results all over the world.”
The PMR called for government creation and maintenance in the quantity of money. “Our own monetary policy should…be directed toward avoiding inflation as well as deflation, and in attaining and maintaining as nearly as possible full production and employment.” The plan also called for eliminating fractional reserve lending – the process of banks loaning our many more times the amount of money in their possession. Back in the 1930’s the reserved requirement was 5:1. Today it’s 10:1. Some of the major banks involved in the economic collapse of 2007 had ignored this law and were loaning out 50 times their reserves. The PMR called for a 100% reserve requirement – banks could only lend the amount of money they possessed.
The document goes on, “In early times the creation of money was the sole privilege of the kings or other sovereigns – namely the sovereign people, acting through their Government. This principle is firmly anchored in our Constitution and it is a perversion to transfer the privilege to private parties to use in their own real, or presumed, interest. The founders of the Republic did not expect the banks to create the money they lend."
Their plan to reduce the national debt was simply to have the government purchase government bonds with new US debt-free money.
NOTE 1: An excellent article explaining our monetary policy and describing in detail how to reform it is at the Center for Progressive Economics
http://cpe.us.com/article/monetary-policy/
NOTE 2: I’ve written an article on Eliminating Rather than Exploiting the Debt Crisis
http://www.opednews.com/articles/Elimating-Rather-than-Expl-by-Greg-Coleridge-110724-782.html
----------------------------------------------------------------------
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html
Sunday, July 24, 2011
Eliminating Rather than Exploiting the Debt Crisis
July 24, 2011 / OpEd News
http://www.opednews.com/articles/Elimating-Rather-than-Expl-by-Greg-Coleridge-110724-782.html
http://www.opednews.com/articles/Elimating-Rather-than-Expl-by-Greg-Coleridge-110724-782.html
Anders Breivik and the Consequences of Far Right Propaganda
“Ideas have consequences” is a favorite mantra of the far-right. It's usually sprung on some mildly pink college professor who happens to refer favorably to Marx in a lecture. “The ultimate result of the Marxist ideology you spout is the Gulag and Pol Pot”, bellows the right-wing pundit. Funny though, this same pundit would never suggest that Jesus is responsible for the Inquisition or Martin Luther for the Holocaust. But then consistency was never part of the right wing mind set.
However this very week, instead of a spurious, fabricated causal chain, with the Norwegian Massacre we have a real example of how ideas have consequences.. Over the last three decades there has been an endless right-wing propaganda barrage attacking liberals, leftists, socialists, immigrants, the poor and a host of other groups too numerous to mention. (1) This is not just a matter of saying “We disagree with leftists etc...” The right wing propagandists make out that the people they oppose are the enemy of God and man, are absolutely evil and subhuman, hardly better than child molesters.
Must we be surprised that as a result of this hate propaganda and demonization, that someone on the fringes of the far right picks up a gun and starts killing a bunch of those immigrant-loving leftist devils?
Now comes the right-wing response to the murders. “Not our fault”, “Don't make political capital out of this tragedy.”, “Oh, he was crazy, doesn't have anything to do with us.” We see that the people who bellow about ideas having consequences don't really believe it after all. The slogan is only a stick to beat the left with. No surprise there though. I already mentioned that if they were consistent, they would claim Jesus responsible for the Inquisition. (2)
For a GUARDIAN take on this click
Guardian article on his hatred of women
Add feminists, pro-choice people, trade unionists, intellectuals, government employees, anarchists, neopagans and non-Christians, atheists and freethinkers, radical or liberal Christians, environmentalists, bicycle riders, and science in general to their hate list,
Before some nitwit accuses me of thinking Jesus caused the Inquisition, I am only saying that it makes as much sense to claim Marx responsible for the gulag as it would to claim Jesus responsible for the Inquisition.
Monday, July 18, 2011
MONETARY HISTORY CALENDAR July 18-24
JULY 18
BIRTH OF STEPHEN ZARLENGA, DIRECTOR, AMERICAN MONETARY INSTITUTE
"I am suggesting that the nature of human affairs requires the government to have four branches, not three, the fourth branch to embody and administer the monetary power…When society loses control over its money system, it loses any control it might have had over its destiny."
JULY 22
1950 – DEATH OF WILLIAM LYON MACKENZIE KING, 10TH PRIME MINISTER OF CANADA, 1935-48
“Once a nation parts with the control of its currency and credit, it matters not who makes that nation's laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile.”
----------------------------------------------------------------------------
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html
Saturday, July 9, 2011
MONETARY HISTORY CALENDAR July 11-17
JULY 11
1862 – LEGISLATIVE ACT AUTHORITIZING US GOVERNMENT TO ISSUE MONEY
Congress passes legislation to issue and circulate $150 million in non-interest bearing, debt-free notes – Greenbacks.
JULY 13
1832 – CONGRESS FAILS TO OVERRIDE PRESIDENT JACKSON VETO TO RENEW THE CHARTER OF THE SECOND NATIONAL BANK OF THE UNITED STATES
In his veto message to renew the misnamed “national bank” (it was actually a private bank controlled/owned by stockholders, a majority of whom were foreigners), Jackson stated: “Controlling our currency, receiving our public monies, and holding thousands of our citizens in dependence…would be more formidable and dangerous than a naval and military power of the enemy.”
1956 – QUOTE OF OF J.R.R TOLKIEN, AUTHOR (THE HOBBIT AND LORD OF THE RINGS) AND UNIVERSITY OF OXFORD PROFESSOR IN CONTOUR MAGAZINE
The true equation is “democracy” = government by world financiers.
The main mark of modern governments is that we do not know who governs, de facto any more than de jure. We see the politician and not his backer; still less the backer of the backer; or, what is most important of all, the banker of the backer.
Throned above all, in a manner without parallel in all past, is the veiled prophet of finance, swaying all men living by a sort of magic, and delivering oracles in a language not understood of the people…
There should only be one source of money: one fountainhead from which flows the nation’s blood to vitalize commerce and industry, ensure economic equity and justice and safeguard the welfare of the people…In other words, it has always been and still is our contention that the prerogative of creating and issuing the money of the nation should be restored to the State.
JULY 14
1833 – DEATH OF WILLIAM GOUGE, ADVISOR TO PRESIDENT ANDREW JACKSON; AUTHOR, A SHORT HISTORY OF MONEY AND BANKING
"The large extent of bank influence is not easily seen. We seldom see an identified bank or a money corporation candidate running for office; but when questions arise which affect them, the banks have agents at work, whose operations are the more effective because they are unseen."
JULY 17
1780 – BANK OF PENNSYLVANIA ESTABLISHED
Quakers first introduced public banking in America with the creation of this state-owned bank which issued its own paper scrip which it lent to farmers. Resident paid no income taxes. There was no government debt and no inflation. The state prospered.
1862 – PASSAGE OF POSTAGE CURRENCY ACT
The act authorized the issuance of 5, 10, 25, and 50 cent notes – which were needed to substitute for gold, silver and copper coins which were hoarded. These fractional currency US debt-free notes, sold in perforated sheets like stamps, were redeemable by the US Post Offices at face value in postage stamps until 1876.
Note: Readers may be interested in this short piece connecting the current national debt ceiling Congressional deliberations and monetary policy
How Do We Eliminate the National Debt? Democracy.
http://createrealdemocracy.blogspot.com/2011/07/how-do-we-eliminate-national-debt.html
-------------------
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html Previous calendar entries are posted at http://afsc.net/monetaryhistorycalendar.html
1862 – LEGISLATIVE ACT AUTHORITIZING US GOVERNMENT TO ISSUE MONEY
Congress passes legislation to issue and circulate $150 million in non-interest bearing, debt-free notes – Greenbacks.
JULY 13
1832 – CONGRESS FAILS TO OVERRIDE PRESIDENT JACKSON VETO TO RENEW THE CHARTER OF THE SECOND NATIONAL BANK OF THE UNITED STATES
In his veto message to renew the misnamed “national bank” (it was actually a private bank controlled/owned by stockholders, a majority of whom were foreigners), Jackson stated: “Controlling our currency, receiving our public monies, and holding thousands of our citizens in dependence…would be more formidable and dangerous than a naval and military power of the enemy.”
1956 – QUOTE OF OF J.R.R TOLKIEN, AUTHOR (THE HOBBIT AND LORD OF THE RINGS) AND UNIVERSITY OF OXFORD PROFESSOR IN CONTOUR MAGAZINE
The true equation is “democracy” = government by world financiers.
The main mark of modern governments is that we do not know who governs, de facto any more than de jure. We see the politician and not his backer; still less the backer of the backer; or, what is most important of all, the banker of the backer.
Throned above all, in a manner without parallel in all past, is the veiled prophet of finance, swaying all men living by a sort of magic, and delivering oracles in a language not understood of the people…
There should only be one source of money: one fountainhead from which flows the nation’s blood to vitalize commerce and industry, ensure economic equity and justice and safeguard the welfare of the people…In other words, it has always been and still is our contention that the prerogative of creating and issuing the money of the nation should be restored to the State.
JULY 14
1833 – DEATH OF WILLIAM GOUGE, ADVISOR TO PRESIDENT ANDREW JACKSON; AUTHOR, A SHORT HISTORY OF MONEY AND BANKING
"The large extent of bank influence is not easily seen. We seldom see an identified bank or a money corporation candidate running for office; but when questions arise which affect them, the banks have agents at work, whose operations are the more effective because they are unseen."
JULY 17
1780 – BANK OF PENNSYLVANIA ESTABLISHED
Quakers first introduced public banking in America with the creation of this state-owned bank which issued its own paper scrip which it lent to farmers. Resident paid no income taxes. There was no government debt and no inflation. The state prospered.
1862 – PASSAGE OF POSTAGE CURRENCY ACT
The act authorized the issuance of 5, 10, 25, and 50 cent notes – which were needed to substitute for gold, silver and copper coins which were hoarded. These fractional currency US debt-free notes, sold in perforated sheets like stamps, were redeemable by the US Post Offices at face value in postage stamps until 1876.
Note: Readers may be interested in this short piece connecting the current national debt ceiling Congressional deliberations and monetary policy
How Do We Eliminate the National Debt? Democracy.
http://createrealdemocracy.blogspot.com/2011/07/how-do-we-eliminate-national-debt.html
-------------------
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html Previous calendar entries are posted at http://afsc.net/monetaryhistorycalendar.html
Thursday, July 7, 2011
How Do We Eliminate the National Debt? Democracy.
The President and Congressional leaders strain and pain to reach agreement on the right combination of spending cuts and tax increases before raising the federal debt ceiling. Yet they continue to ignore changing our monetary system, which could eliminate our nation’s debt.
The United States could simply issue its own debt-free money -- similar to the Greenbacks introduced by Abraham Lincoln. Why do we continue to allow our nation’s money system to be privatized (more like corporatized)? Banks issue money as debt when they create it out of thin air as loans to people and the government. This represents by far the single largest federal subsidy in this nation.
As Treasury bonds, notes and bills come due, rather than rolling them over as new debt, the US government should simply pay the holders with US debt-free currency, thereby extinguishing the debt. Laws can limit the amount of money issued by the government so it creates neither inflation nor deflation.
Our Constitution provides our federal government the authority to issue its own money. Democratizing our monetary system will not only put We the People in charge of this essential national function, but can also eliminate our national debt.
The United States could simply issue its own debt-free money -- similar to the Greenbacks introduced by Abraham Lincoln. Why do we continue to allow our nation’s money system to be privatized (more like corporatized)? Banks issue money as debt when they create it out of thin air as loans to people and the government. This represents by far the single largest federal subsidy in this nation.
As Treasury bonds, notes and bills come due, rather than rolling them over as new debt, the US government should simply pay the holders with US debt-free currency, thereby extinguishing the debt. Laws can limit the amount of money issued by the government so it creates neither inflation nor deflation.
Our Constitution provides our federal government the authority to issue its own money. Democratizing our monetary system will not only put We the People in charge of this essential national function, but can also eliminate our national debt.
Sunday, July 3, 2011
MONETARY HISTORY CALENDAR - July 4-10
1826 – DEATH OF JOHN ADAMS, SECOND PRESIDENT OF THE UNITED STATES
“ All of the perplexities, confusion, and distress in America arises, not from the deflects of the Constitution or Confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation.”
1826 – DEATH OF THOMAS JEFFERSON, THIRD PRESIDENT OF THE UNITED STATES
“I believe that banking institutions are more dangerous to our liberties than standing armies. . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
1892 – ADOPTION OF THE “OMAHA PLATFORM,” FOUNDING DOCUMENT OF THE POPULIST PARTY
“The national power to create money is appropriated to enrich bondholders; a vast public debt payable in legal tender currency has been funded into gold-bearing bonds, thereby adding millions to the burdens of the people…[The two political parties] propose to drown the outcries of a plundered people with the uproar of a sham battle over the tariff, so that capitalists, corporations, national banks, rings, trusts, watered stock, the demonetization of silver and the oppressions of the usurers may all be lost sight of.
PLATFORM
We demand a national currency, safe, sound, and flexible, issued by the general government only, a full legal tender for all debts, public and private, and that without the use of banking corporations, a just, equitable, and efficient means of distribution direct to the people, at a tax not to exceed 2 per cent. per annum, to be provided as set forth in the sub-treasury plan of the Farmers' Alliance, or a better system; also by payments in discharge of its obligations for public improvements….We demand that postal savings banks be established by the government for the safe deposit of the earnings of the people and to facilitate exchange."
JULY 6
1863 – BIRTH OF RICHARD MCKENNA, FORMER PRESIDENT OF THE MIDLANDS BANK OF ENGLAND
"I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people."
JULY 7
1947 – DEATH OF HENRY FORD, INDUSTRIALIST, FOUNDER, FORD MOTOR COMPANY
"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
JULY 9
1778 – FIRST STATES RATIFY THE ARTICLES OF CONFEDERATION.
Eight states sign the Articles on this day. Other states followed shortly thereafter. The Articles granted the Federal Government the authority to issue money and determine its value if 9 states agreed.
2007 – CITIGROUP CEO CHARLES PRINCE INTERVIEW WITH THE FINANCIAL TIMES
Explaining his bank’s excessive money creation through the creation of risky sub-prime loans,
“When the music stops, in terms of liquidity, things will get complicated. But as long as the music is playing, you’ve got to get up and dance.”
JULY 10
1509 – BIRTH OF JOHN CALVIN, FRENCH THEOLOGIAN AND PASTOR
“For we altogether condemn usuries, we shall impose severer restrictions upon the consciences that the Lord himself desired”
1832 – ANDREW JACKSON VETOES LEGISLATION TO RENEW THE CHARTER OF THE PRIVATE SECOND BANK OF THE UNITED STATES
“Is there no danger to our liberty and independence in a bank that in its nature has so little to bind it to our country?... Should its influence become concentrated, as it may under the operation of such an act as this, in the hands of a self-elected directory whose interests are identified with those of the foreign stockholders, will there not be cause to tremble for the purity of our elections in peace and for the independence of our country in war? Their power would be great whenever they might choose to exert it; but if this monopoly were regularly renewed every fifteen or twenty years on terms proposed by themselves, they might seldom in peace put forth their strength to influence elections or control the affairs of the nation. But if any private citizen or public functionary should interpose to curtail its powers or prevent a renewal of its privileges, it can not be doubted that he would be made to feel its influence.
Why this calendar? Many people have questions about the root causes of our economic problems. Some questions involve money, banks and debt. How is money created? Why do banks control its quantity? How has the money system been used to liberate (not often) and oppress (most often) us? And how can the money system be “democratized” to rebuild our economy and society, create jobs and reduce debt?
Our goal is to inform, intrigue and inspire through bite size weekly postings listing important events and quotes from prominent individuals (both past and present) on money, banking and how the money system can help people and the planet. We hope the sharing of bits of buried history will illuminate monetary and banking issues and empower you with others to create real economic and political justice.
This calendar is a project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini and Greg Coleridge helped in its development.
Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, contact monetarycalendar@yahoo.com For more information, visit http://www.afsc.net/economiccrisis.html
Not Much Love Here – a review of Lawrence Aronsen's "City of Love and Revolution – Vancouver in the Sixties"
This review appeared in Oystercatcher (oystercatcher@uniserve.com )
If you are looking for a history of the Vancouver counter culture, this is definitely not the book. "City of Love and Revolution" is little more than a compendium of glaring omissions, factual errors, mass media cliches with a belittling and condescending tone throughout. While there is much talk of love, the author seems to have little of that sentiment for his subject.
Let's start off with the omissions. Aronsen ignores the Simon Fraser University student movement, the most militant and well organized in the country. The administration occupation and student strike were all over the TV and newspapers, but he is not aware of this. Ignoring SFU is like writing about Black Power and not mentioning the Black Panthers. He says he lived in New Westminster in the late 1960's but does not once mention the New West Student Coop, the well known centre of counter cultural and student radicalism in that city.
The Point Grey Peace House is omitted from the discussion of Peace Movement as well as the Advance Mattress Coffee House where politicos and culturals met. Both of these institutions were key elements in the formation of the city's counter culture.
There is a groaning burden of factual errors.
Aronsen claims the Vancouver counter culture began with the first Easter Be-in of 1967, but it was around in 1965 and had roots going back to the 1950's. There is a ridiculous attempt at classifying “hippies” in four different categories - “fierce-looking” angries, heads who preferred LSD and speed, “cynical” beats and “the largest group” the "love hippies." Who ever used that latter term? Supposedly up to 1967 the counter culture and the peace movement “moved in separate circles.” This was untrue, at least in Vancouver, where "beats" were peace activists and peace activists helped form the counter-culture. He states there were only “several” Vietnam War demos in the late 60's, but they were an annual event from 1966 to 1972, making a total of seven, somewhat more than several.
He contends that the sixties counter culture was the first to try freeing itself of bourgeois morality, but in reality this something all previous bohemias and anarchist movements attempted with varying degrees of success. Has he not heard about Greenwich Village and "The Masses"?
A gap supposedly existed between "libertarianism and collectivism” and the Yippies sought to bridge this, but for anarchists this split has never existed. The Vancouver Yippies became increasingly influenced by anarchist theory. This gap only exists in the author's mind, as the real division is between the libertarian and the authoritarian.
The Blaine invaders were not driven out of the town in retreat by citizen violence as the author states. No one intended to occupy Blaine, since a part of the action was to bring war resistors across the border hidden in the marchers. The acts of violence within Blaine were few. The real brawl commenced after the invaders were back in Canada. Led by an ex-biker, they beat the crap out of some American neonazis.
“Yippie leaders failed to understand that soft drug usage was now common among the middle class” - who smoked up without joining the Yippies. We knew this and were pleased by it. We were honest in wanting to change these laws which effected everyone. Demonstrating against the drug laws was not a ploy to get members.
After Yippie broke up, “many [Yippies] simply began working at regular jobs...” implying they disappeared from the movement. What is truly of interest is that virtually everyone in this group remained involved in progressive causes.
Most of the Yippies became anarchists, those that didn't, got involved in the women's, environmental or trade union movements. Some others worked in the alternative press.
The peace movement of the early 60's was supposedly split between "moderates" and Communists. Actually, there was a three way split. To the left of the CP stood the direct actionist Student Union for Peace Action and the anarchist-inspired League for Total Disarmament. Furtheremore, SUPA was formed in 1964 not 1965.
The growing opposition to the Viet Nam War and the formation of the Vancouver Viet Nam Day Committee did not represent a victory of the “moderates” over the Communist Party. The most active people in the VVDC, and its successor the Vancouver Coordinating Committee, were members of the trotskyist League For Socialist Action and its youth group, the Young Socialists. They were politically to the left of the CP. (I was associated with them for about 6 months in 1967, but not a member.) Aronsen does not understand that the LSA was committed to building a broad front campaign around the war and this meant involving liberals as well as radicals.
There is the photo of an alleged “strident and Anti-American” Yippie demonstration on page 146. The placards are of the Maoist CPC-ML, not Yippie. We hated CPC-ML and we were standing in the midst of them mocking their ludicrous slogans.
As for the Feb. 1969 meeting of VCC, (to which I was a delegate from SFU) the split was the result of SDU and the Progressive Workers Movement not SDU and the CPC-ML, which was not formed until more than a year later. The split was not between “moderates” and radicals, but between Trotskyists and Maoist/anarchist-leaning New Leftists. Aronsen claims the Young Socialists were “infiltrating” the presumably "moderate" VCC. They were always there, one might say they were the VCC.
Aronsen just can't resist a mass media cliche or stereotype. Take the term “hippie.” We only used it ironically, instead calling ourselves heads, freaks or revolutionaries. "Hippie", like the earlier "peacenik" and "beatnik", was a mass media creation – no one other than rubes used such terms seriously. He then claims there was “an expiration date” for the alternative lifestyle. The mass media will tell you it ended at Altamont in 1970, or at the latest, sputtered out two years later. Sorry, but we are still here.
What really happened to the 60's counter culture is the hangers-on jumped off, leaving a core of serious, capable people who went on to start organic farms, Coop Radio,Spartacus Books, Pulp Press, Press Gang Publishers, housing coops, food coops, the CEC credit union and many other projects. Some people moved to Commercial Drive and others to the Kootenays, the Gulf Islands, and the Sunshine Coast. And activism? The Anarchist Movement, Feminist Groups, Gay Liberation, Latin American solidarity groups, and the Green Party - all are outgrowths of this period. Many of our ideas went so mainstream their origin is almost forgotten, such as the act of protest itself, feminism, environmentalism, anti-consumerism, opposition to war and nuclear power, cooperative living, organic food, libertarian parenting and pedagogy. These are the ideas of the general progressive-minded public and no longer the "intellectual property" of a few thousand so-called "hippies" and "student radicals".
Must we be subjected again after 43 years, to the straw man argument that we tossed aside reason, went by feeling alone, and rejected “serious employment.” (ie were lazy) and what was “really meaningful” for the counter culture was the media image of sex, drugs and rock and roll? Must we endure the tabloid caricaturing of the beats as "cynical"?
Aronsen gives a hint of his underlying politics with his MacArthyite attack upon the Communist Party, which he claims was “calculatedly using innocent untutored children” in their peace protests and were not really for peace but “devoted to advancing the Soviet Union's strategic interest.” Then there is his characterization of the Communist Party as extreme, which for any 60's radical is a real knee slapper.
The 60's counter culture is accused of creating a situation that opened up the general population to the use of drugs, resulting in the present crack-meth horror. This is an element of right-wing propaganda – they still at war with the 1960's – the only problem is the counter culture was never in favour of dangerous drugs. We looked with despair upon junkies and speed freaks, wanting as little as possible to do with them. The dangerous drug epidemic only occurred in the late 1980's as a result of the CIA flying tons of cocaine into the US and creating the crack problem. Up till then, there was no real drug problem other than the one that had always existed since opiates were made illegal in 1914.
According to Aronsen, the sixties produced a "cult of youth" leading to "a decline in parental authority" and "a loss of respect for the wisdom of the elders", all familiar conservative cliches, some of which have been with us since the time of Socrates. It is not clear whether he is trying to blame the counter-culture for these, but I suspect so. If there was a "cult of youth" it was a creation of the media not us. Indeed, the counter culture would not have existed without the "wisdom of the elders", for it did not drop out of the sky, but came about through the influence of older people like Aldous Huxley, Allan Watts, Paul Goodman and Herbert Marcuse, not to mention the Beat Generation writers.
Most annoyingly of all, is his characterization throughout, that we were "anti-American". We, who received the Vietnam War resistors with open arms and revered Bob Dylan, Joan Baez, Martin Luther King and a host of others, were anti-American? Absolutely insane. But perhaps not so. This is an example of the Big Lie Technique in action. In order to hide our criticisms of US foreign policy and corporatism, reactionaries like Aronsen deceitfully claim we hate the American people.
The author tends to minimize the effects of some actions and events as well as having a belittling and condescending manner.
In claiming that the mainstream media was “ambivalent” toward "hippies", he minimizes the impact of the Vancouver Sun's hate campaign against youthful dissidents dating back to at least 1965. The Yippies compared the “occasional acts of measured discrimination against longhairs” by Hudson Bay to that of Black People in the USA. In fact, the Bay's discrimination was only the symbol of the years of harrassment and vilification, and while we did make a comparison with African Americans, we did not think it was the same experience. Terms like "white niggers" are not to be taken literally, anymore than Mario Savio's "don't trust anyone over 30" or Jerry Rubin's "kill your parents." They were metaphors.
Canadian Yippies, it seems, were “not terribly original.” We certainly were for Vancouver. No one had seen or used those tactics before. What is really original anyway? Then again, how original are Aronsen's cliches?
After mentioning how the NDP and the BC Federation of Labour backed the anti-war movement, Aronsen then claims the “opposition to anti-war demonstrations was tainted with working class hostility.” His evidence? A dozen counter demonstrators of which one was a member of the Teamsters. This is of no surprise as the union was run by Nixon-loving gangsters. One Teamster vs organizations that represented hundreds of thousands of workers!
High school students participated en mass in the Amchitka Demonstration October 1971. The author sneers at these youth as, “students wishing to establish their own distinct boomer identity... realized that an anti-nuke stance was an easy way to seize the moral high ground.” What condescension! Did it ever occur to Aronsen that students might have a genuine concern, just like their older brothers and sisters? Anyone who has spent any time with young demonstrators knows they are earnest to the point that it is almost painful, rather than having some underhanded motivation.
“In retrospect it is not clear what the peace movement accomplished.” Does he know anything about the subject? In the early 1960's you might get a hundred people out on a demo. By 1970 you were getting several thousand. In 1982, 115,000 demonstrated against the Cruise Missile. Today, opposition to war is a “motherhood issue.” Without the intervening stage of the late 60's -early 70's movement, this would not have happened.
The real history of Vancouver's counter culture waits to be written. If anything good comes out of this travesty of a book, it will be that it has inspired someone who actually understands the period to get to work.
Saturday, July 2, 2011
Libya: All About Oil, or All About Banking?
This is a very enlightening article describing what may be the single most important reason for the US/NATO war against Libya — their movement toward a monetary system controlled by the nation instead of bankers. The last thing banksters want is a model for public control of money creation and circulation — something that does not take place in the United States (the Federal Reserve is actually a private/corporate body) or any European nation (though Iceland is trying to move back to a public system). Corporatization of money creation and circulation enslaves us all — in our nation and across the planet.
Libya: All About Oil, or All About Banking?
By Ellen Brown, Reader Supported News
http://readersupportednews.org/opinion2/289-134/5625-libya-all-about-oil-or-all-about-banking
Friday, July 1, 2011
ARTICLES, RESOURCES, ACTION ITEMS, JULY 4TH, HOTDOGS AND FIREWORKS
ARTICLES [more reasons why we need to end corporate personhood and money equaling speech]
Justices strike down taxpayer-supported campaign spending law
http://www.cnn.com/2011/US/06/27/scotus.arizona.campaign.finance/index.html?iref=allsearch
Tyranny of King George III and Ohio Government
http://createrealdemocracy.blogspot.com/2011/06/tyranny-of-king-george-iii-and-ohio.html
NEW RESOURCE ASSERTS COMMUNITY RIGHT TO DECIDE BY BANNING FRACKING
Common Sense -- Banning Fracking at the Local Level pdf format
http://www.celdf.org/
EMERGENCY LABOR NETWORK ADOPTS ACTION ITEM REGARDING CORPORATE RIGHTS
Action Program Adopted by the Emergency Labor Network Conference
(Kent, Ohio -- June 24-26, 2011)
Mike Ferner (from Toledo) with Veterans for Peace and Greg Coleridge were able to introduce, motivate and encourage the passage of this action item...one of 17 adopted. It will be send to more than 17,000 labor and community contacts across the country. Most of the present labor participants are focused on reacting to day-to-day labor assaults (as reflected in almost all of the other adopted action items) so it was by no means automatic that anything related to a more long-term strategy would be approved...addressing ALL corporate constitutional rights.
“We urge the labor movement and its community partners to engage in education and discussion on ways to eliminate never-intended constitutional rights and powers of corporations -- as affirmed by Supreme Court decisions.”
More information: please visit our website at www.laborfightback.org
MAP OF MOVE TO AMEND AFFILIATED AND PARTNERS ACROSS THE US
http://bit.ly/MTA-Affiliate-Map
INDEPENDENCE DAY WEEKEND (or thereabouts) END CORPORATE RULE ACTIVITIES
July 4 – Lakewood Independence Day Parade
Move to Amend Ohio will be marching with its “End Corporate Rule” banner, “Corporations are Not People” posters, and petitions. If you’re anywhere near Lakewood, the parade runs from 10 am to Noon. If you want to take part, email gcoleridge@afsc.org
July 6 - Corporations are Not People: Let’s Amend the U.S. Constitution to Say So!
6-8 p.m., Medina Library - Rooms A-B - 210 S. Broadway, Medina, OH
Flyer at http://afsc.net/PDFFiles/070611flyer.pdf
Information, contact Carolyn Boyce at FreeSpeechMedina@gmail.com
DECLARE YOUR INDEPENDENCE FROM CORPORATE RULE THIS JULY 4TH WEEKEND
This Independence Day weekend, please consider spending just 1/2 hour promoting real democracy by eliminating never-intended corporate constitutional rights. Take a break from your hot dog eating contest. Delay your trip to buy fireworks across state lines. Take just 30 minutes sometime this weekend to:
1. Circulate the Move to Amend petition to those on your street or wherever you may find yourself.
[Download a petition at http://www.movetoamendohio.org/]
2. Write a letter to your local newspaper declaring that corporations are not people, money is not speech and the future of whatever is left of our democracy depends on real persons and all persons (not just rich persons) having the right to decide what takes place in our communities.
3. Become a FaceBook friend to Ohio Move to Amend
http://www.facebook.com/pages/Ohio-Move-to-Amend/163413857048478
...and encourage your friends to do the same
4. Talk to a few friends about starting a Move to Amend chapter in your community. Once you have a few people interested, contact us. We’ll help with organizing!
ps. Enjoy your hot dogs and fireworks!
Justices strike down taxpayer-supported campaign spending law
http://www.cnn.com/2011/US/06/27/scotus.arizona.campaign.finance/index.html?iref=allsearch
Tyranny of King George III and Ohio Government
http://createrealdemocracy.blogspot.com/2011/06/tyranny-of-king-george-iii-and-ohio.html
NEW RESOURCE ASSERTS COMMUNITY RIGHT TO DECIDE BY BANNING FRACKING
Common Sense -- Banning Fracking at the Local Level pdf format
http://www.celdf.org/
EMERGENCY LABOR NETWORK ADOPTS ACTION ITEM REGARDING CORPORATE RIGHTS
Action Program Adopted by the Emergency Labor Network Conference
(Kent, Ohio -- June 24-26, 2011)
Mike Ferner (from Toledo) with Veterans for Peace and Greg Coleridge were able to introduce, motivate and encourage the passage of this action item...one of 17 adopted. It will be send to more than 17,000 labor and community contacts across the country. Most of the present labor participants are focused on reacting to day-to-day labor assaults (as reflected in almost all of the other adopted action items) so it was by no means automatic that anything related to a more long-term strategy would be approved...addressing ALL corporate constitutional rights.
“We urge the labor movement and its community partners to engage in education and discussion on ways to eliminate never-intended constitutional rights and powers of corporations -- as affirmed by Supreme Court decisions.”
More information: please visit our website at www.laborfightback.org
MAP OF MOVE TO AMEND AFFILIATED AND PARTNERS ACROSS THE US
http://bit.ly/MTA-Affiliate-Map
INDEPENDENCE DAY WEEKEND (or thereabouts) END CORPORATE RULE ACTIVITIES
July 4 – Lakewood Independence Day Parade
Move to Amend Ohio will be marching with its “End Corporate Rule” banner, “Corporations are Not People” posters, and petitions. If you’re anywhere near Lakewood, the parade runs from 10 am to Noon. If you want to take part, email gcoleridge@afsc.org
July 6 - Corporations are Not People: Let’s Amend the U.S. Constitution to Say So!
6-8 p.m., Medina Library - Rooms A-B - 210 S. Broadway, Medina, OH
Flyer at http://afsc.net/PDFFiles/070611flyer.pdf
Information, contact Carolyn Boyce at FreeSpeechMedina@gmail.com
DECLARE YOUR INDEPENDENCE FROM CORPORATE RULE THIS JULY 4TH WEEKEND
This Independence Day weekend, please consider spending just 1/2 hour promoting real democracy by eliminating never-intended corporate constitutional rights. Take a break from your hot dog eating contest. Delay your trip to buy fireworks across state lines. Take just 30 minutes sometime this weekend to:
1. Circulate the Move to Amend petition to those on your street or wherever you may find yourself.
[Download a petition at http://www.movetoamendohio.org/]
2. Write a letter to your local newspaper declaring that corporations are not people, money is not speech and the future of whatever is left of our democracy depends on real persons and all persons (not just rich persons) having the right to decide what takes place in our communities.
3. Become a FaceBook friend to Ohio Move to Amend
http://www.facebook.com/pages/Ohio-Move-to-Amend/163413857048478
...and encourage your friends to do the same
4. Talk to a few friends about starting a Move to Amend chapter in your community. Once you have a few people interested, contact us. We’ll help with organizing!
ps. Enjoy your hot dogs and fireworks!
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