REAL Democracy History Calendar: June 19 – 25

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https://realdemocracyhistorycalendar.wordpress.com/2017/06/19/real-democracy-history-calendar-june-19-25/

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MONETARY HISTORY CALENDAR: June 18-24

Greenbackk

JUNE 18

1926 – BIRTH OF CHARLES WALTERS, FOUNDER OF ACRES MAGAZINE, A VOICE FOR ECO-AGRICULTURE
“[O]ur forefathers took steps to protect the economic freedom of the United States by giving to Congress, elected by the people, the power to provide a monetary system independent of the monetary systems of other countries, and to regulate the value of the dollar, adopted as our monetary unit, or measure of value. This power automatically gave Congress the right to determine the value of the United States production in terms of United States money.”

JUNE 19

1902 – DEATH OF LORD ACTON, ENGLISH HISTORIAN, POLITICIAN, AND WRITER
“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.”

1946 – DEATH OF HENRY SIMONS, PROFESSOR OF ECONOMICS, UNIVERSITY OF CHICAGO
“The mistake lies in fearing money and trusting debt.”

JUNE 20

1756 – BIRTH OF WILLIAM RICHARDSON DAVIE, NORTH CAROLINA DELEGATE TO THE 1787-8 CONSTITUTIONAL CONVENTION AND GOVERNOR OF N. CAROLINA
“So low and hopeless are the finances of the United States, that, the year before last Congress was obliged to borrow money even, to pay the interest of the principal which we had borrowed before. This wretched resource of turning interest into principal, is the most humiliating and disgraceful measure that a nation could take, and approximates with rapidity to absolute ruin:
Yet it is the inevitable and certain consequence of such a system as the existing Confederation.”

JUNE 21

1940 — DEATH OF SMEDLEY BUTLER, MARINE CORP MAJOR GENERAL (MOST DECORATED MARINE IN US HISTORY AT THE TIME OF HIS DEATH)
“I spent thirty-three years and four months in active military service as a member of this country’s most agile military force, the Marine Corps. I served in all commissioned ranks from Second Lieutenant to Major-General. And during that period, I spent most of my time being a high-class muscle man for Big Business, for Wall Street and for the Bankers. In short, I was a racketeer, a gangster for capitalism…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…. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefits of Wall Street. The record of racketeering is long. I helped purify Nicaragua for the international banking house of Brown Brothers in 1909-1912…”

2012 – DEATH OF ANNA SCHWARTZ, CO-AUTHOR OF “A MONETARY HISTORY OF THE UNITED STATES”
“A Monetary History of the United States” contributed to a new consensus on monetary issues, including the sources of the Great Depression. The 888-page book asserts that the 1929 stock market crash and subsequent Great Depression was caused by mistakes by the Federal Reserve. . Former Federal Reserve Chairman Ben Bernanke called the work, ‘the leading and most persuasive explanation of the worst economic disaster in American history.’ ‘You’re right; we [the Fed] did it. We’re very sorry. But thanks to you, we won’t do it again.’
A month after the collapse of Lehman Brothers, Schwartz said in the Wall Street Journal interview the insolvent financial firms should not be bailed out, but rather shut down.

JUNE 22

1911 – SPEECH OF PRESIDENT WILLIAM HOWARD TAFT BEFORE NEW YORK STATE BANKERS’ ASSOCIATION
“There is no legislation, I care not what it is, tariff, railroad, corporation, or of a general political character, that at all equals in importance the putting of our banking and currency system on a sound basis.”
Of course, Taft’s definition of a “sound” banking and currency system was the plan being pushed by major bankers – the creation of a private central bank (which basically defines the Federal Reserve) and the ability of banking corporations to create our nation’s money – as debt.

1949 – BIRTH OF ELIZABETH WARREN, US SENATOR, MASSACHUSETTS
“What we need is a system that puts an end to the boom and bust cycle. A system that recognizes we don’t grow this country from the financial sector; we grow this country from the middle class.” “Powerful interests will fight to hang on to every benefit and subside they now enjoy. Even after exploiting consumers, larding their books with excessive risk, and making bad bets that brought down the economy and forced taxpayer bailouts, the big Wall Street banks are not chastened. They have fought to delay and hamstring the implementation of financial reform, and they will continue to fight every inch of the way.”

JUNE 23

1948 – WEST INTRODUCES NEW CURRENCY IN W. BERLIN, SOVIETS RESPOND WITH BLOCKADE
Several factors led to the blockade of W. Berlin by the Soviet Union. These included the unification of the French, British and US sectors into a West German government and the issuance of a currency in the new country. It was the issuance of a new currency in W. Berlin on June 23. The next day the Soviets imposed a complete blockade on Berlin.

2016 – BREXIT VOTE
Citizens in the United Kingdom vote in a national referendum to withdraw from the European Union. British voters felt their sovereignty, including economic sovereignty, was in peril by remaining in the EU. Other European nations, including those who have entirely lost their ability to issue and circulate their own national currency, are exploring a similar exit. [Note: The British maintained their authority to issue and circulate their currency, the Pound, despite being EU members, unlike other members.]

JUNE 24

1982 – LEWIS V UNITED STATES (AMENDED DECISION OF THE US COURT OF APPEALS, NINTH CIRCUIT)
“Federal Reserve banks are not federal instrumentalities for purposes of a Federal Tort Claims Act, but are independent, privately owned and locally controlled corporations in light of fact that direct supervision and control of each bank is exercised by board of directors. Federal Reserve banks…are locally controlled by their member banks; banks are listed neither as “wholly owned” government corporations nor as “mixed ownership” corporations; federal reserve banks receive no appropriated funds from Congress and the banks are empowered to sue and be sued in their own names . . ..”

1946 – BIRTH OF ROBERT REICH, FORMER US LABOR SECRETARY
“The dirty little secret is that both houses of Congress are irrelevant.  … America’s domestic policy is now being run by Alan Greenspan and the Federal Reserve…America’s foreign policy, meanwhile, is now being run by the International Monetary Fund [IMF] with some coaching from the Treasury Department.”

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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 the original project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini, Deb Jose and Greg Coleridge helped in its development. It is currently updated by Greg Coleridge. Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, email monetarycalendar@yahoo.com
To see the calendar year-to-date, go to https://monetarycalendar.wordpress.com/
A second historical calendar, the REAL Democracy History Calendar, in many ways complements this calendar. For information, go to https://realdemocracyhistorycalendar.wordpress.com/about/

 

Oil’s pipeline to America’s schools

The corporatization of all aspects of society continues to proceed, including education. Check out what the nice folks at the Ohio Oil and Gas Energy Education Program (OOGEEP) are doing to supply surely unbiased “educational” materials to teachers and students across the state touting the wonders of oil and gas, but none of the costs to people, communities or the planet. http://oogeep.org/teacher-students/

Seizing on Opioid Crisis, a Drug Maker Lobbies Hard for Its Product

This has it all: a corporation in Ohio exploiting the opiod crisis by pushing a suspect drug on treatment providers, judges, politicians (including our very own Senator Rob Portman who received $29,000 in cash from the drug corporation) and even those in jail and prison with free samples. A political system and society hooked on corporate constitutional rights and money defined as free speech will never be a real and clean democracy.

MONETARY HISTORY CALENDAR June 11 – 17

grnback

JUNE 11

2009 – POSTING ON “TAKE DOWN THE INTERNATIONAL MONETARY FUND” BLOG ENTITLED, “REFORM IS NECESSARY”
“The International Monetary Fund is a ploy for Western democracies to spread their influence and control over developing nations. Claiming to be philanthropic and economically supportive by providing loans, the IMF simply doles out Western currency in the form of loans with high interest rates to developing nations who could never possibly pay them back. This creates an unfair economic dependency of developing nations on Western countries.”

JUNE 12

2013 – “HISTORY TEACHES THAT WE HAVE THE POWER TO TRANSFORM THE NATION, HERE’S HOW,” ARTICLE PUBLISHED
“Currently, people are building economic democracy – including worker-owned cooperatives, participatory budgeting, community supported agriculture, farmer’s markets, community banks and credit unions as well as local currencies and local investment networks, community land trusts, and more – so that people can strengthen their communities. In time, of course, national policies will need to be changed as well, in order to, for example: establish an open and transparent Federal Reserve that is democratically accountable, public rather than private creation of money, the end of corporate personhood, public funding of public campaigns, a new energy economy where every home, business and community uses energy efficiently and produces energy, the end of the destructive extraction economy, and so much more.”
https://www.popularresistance.org/history-teaches-that-we-have-the-power-to-transform-the-nation-heres-how/

JUNE 13

1933 – CONGRESSIONAL PASSAGE OF GLASS-STEAGALL ACT
Actual title was Banking Act of 1933. President Roosevelt signed it on June 16. Considered one of the most important post Depression laws, the legislation created the Federal Deposit Insurance Corporation, which protected bank deposits. It also instituted several bank reforms to curb speculation that caused the Depression. One important provision was to create a firewall between Main Street depository banks and Wall Street investment banks. The Act was repealed by the Gramm-Leach-Bliley Act in 1999.

2014 – “TO THE FUTURE PRIME MINISTER OF THE UK” BLOG POST CALLS FOR DEMOCRATIC MONEY CREATION
“To the future Prime Minister of the UK:
The same banks that caused the financial crisis currently have the power to create 97% of the UK’s money. They’ve used this power recklessly, putting most of the money they create into property bubbles and financial markets. And now they’re back to their old ways.
We need a change. The power to create money should only be used in the public interest, in a democratic, transparent and accountable way. The 1844 law that makes it illegal for anyone other than the Bank of England to create paper money should be updated to apply to the electronic money currently created by banks.
When new money is created, it should be used to fund vital public services or provide finance to businesses, creating jobs where they’re needed, instead of being used to push up house prices or speculate on the financial markets.”
http://www.positivemoney.org/?mailing=1 / https://thomasattwood.wordpress.com/page/5/

JUNE 14

2013 — FACEBOOK MESSAGE TO BILL MOYERS ON MONETARY REFORM
“Dear Mr. Moyers;
An extremely interesting conversation with Richard Wolf today on WAMC @ 2:30. He spoke of the critical problem with capitalism, but failed to say what the problem actually was and I found it interesting that even he decided not to speak of this critical problem.
I urge you to go to Stephen Zarlenga @ http://www.ami.org and read his book The Lost Science of Money. The critical problem with Capitalism is the private ownership of Money by the Federal Reserve since the beginning of our country and the fractional reserve system basing money as debt. I could go on and on but thought you would be better informed by reading this book. If you get a chance, tell me what you think.
Thank You
Henry A. Kirchdorfer III” https://www.facebook.com/moyersandcompany/posts/610306285654053

JUNE 15

1836 – CHARTER (LICENSE) FOR SECOND NATIONAL BANK OF THE UNITED STATES REPEALED
This was the third quasi national bank of the former British colonies — following the Bank of North America (1781-1785, chartered by the Continental Congress) and Bank of the United States (1791-1811, chartered by the US Congress). While called a “national” bank, it was not public but actually a commercial/corporate bank with the power to issue money directly. Early on, it issued a huge amount of money (more than 20 times its reserves) as loans that led to financial speculation and large corporate profits. A year later, it stopped issuing loans, resulting in a severe contraction of the money supply. This led to massive bankruptcies and the Panic of 1819. When President Andrew Jackson threatened to repeal its charter, the Bank’s leaders used its power to restrict money circulation to cause another depression. Bank President Nicolas Biddle wrote, “Nothing but widespread suffering will produce any effect on Congress…Our only safety is in pursuing a steady course of firm restriction – and I have no doubt that such a course will ultimately lead to restoration of the currency and the recharter of the Bank.”

President Andrew Jackson said this about the bank; “The immense capital and peculiar privileges bestowed upon it enabled it to exercise despotic sway over the other banks in every part of the country. From its superior strength it could seriously injure, if not destroy, the business of any one of them, which might incur its resentment; and it openly claimed for itself the power of regulating the currency throughout the United States. In other words, it asserted (and it undoubtedly possessed) the power to make money plenty or scarce at its pleasure, at any time and in any quarter of the Union, by controlling the issues of other banks and permitting an expansion or compelling a general contraction of the circulating medium, according to its own will.”

JUNE 16

1929 – DEATH OF VERNON PARRINGTON, 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.”

JUNE 17

2009 – PRESIDENT OBAMA RELEASES PLAN FOR FINANCIAL REFORM
“President Obama’s plan to reshape financial regulation seeks to give Washington the tools to police the shadow system of finance that has grown up outside the government’s purview, and to make it easier for regulators to head off problems at large, troubled institutions. However, the president’s plan results from many compromises with industry executives and lawmakers, and is not as bold as some had hoped.” Among the less than ” compromises with industry” were permitting financial institutions to promote various types of derivatives, cutting the number of bank regulators, and granting new powers to the private Federal Reserve.

———————–

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 the original project of the Northeast Ohio American Friends Service Committee. Adele Looney, Phyllis Titus, Donna Schall, Leah Davis, Alice Francini, Deb Jose and Greg Coleridge helped in its development. It is currently updated by Greg Coleridge. Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, email monetarycalendar@yahoo.com
To see the calendar year-to-date, go to https://monetarycalendar.wordpress.com/
A second historical calendar, the REAL Democracy History Calendar, in many ways complements this calendar. For information, go to https://realdemocracyhistorycalendar.wordpress.com/about/