MONETARY HISTORY CALENDAR: April 22 – 28

grnback

APRIL 22

EARTH DAY – CREE INDIAN PROVERB
“Only when the last tree has died and the last river has been poisoned and the last fish been caught, will we realize we cannot eat money.” Seems an appropriate quote on this day.

APRIL 23

384 BC – BIRTH OF ARISTOTLE
“The most hated sort of wealth getting is usury, which makes again out of money itself and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money…of all modes of getting wealth this is the most unnatural.”
“Money exists not by nature but by law.” This is one of the most insightful comments on money of all time.

871 – REIGN OF KING ALFRED OF ENGLAND BEGINS
King Alfred (Alfred the Great) implemented a law that moneylenders who took usury would forfeit all their possessions to the King.

1616 – DEATH OF WILLIAM SHAKESPEARE. HE WAS BORH ON THE EXACT SAME DATE IN 1564
“Poor? Look upon his face. What call you rich?
Let them coin his nose, let them coin his cheeks.”
– From The First Part of King Henry the Fourth, act 3, sc 3
The word “coin” is a verb, a common usage of the period. The same is true in the phrase “To coin Money” in Article 1, Section 8 of the U.S. Constitution, which gives the legislative branch the authority to “create” or “coin” our nation’s money supply. Was true then. Is still true now. Yet, banking corporations have largely usurped this public authority – creating money as debt, loaned to the government, which must be paid back with interest. Insane.

APRIL 24

2014 – PUBLICATION OF ARTICLE IN FINANCIAL TIMES: “STRIP PRIVATE BANKS OF THEIR POWER TO CREATE MONEY” BY MARTIN WOLF, CHIEF FINANCIAL WRITER
Since banks create money out of thin air, they should be stripped of this power, and limited to normal depository functions. Wolf indicates the centrality and importance of the issue with his subtitle: “The giant hole at the heart of our market economies needs to be plugged.”

APRIL 25

2012 – PUBLISHED ARTICLE, “TARP OVERSEER DEBUNKS BAILOUT MYTHS: BIG COMPANIES HAVEN’T REPAID TARP FUNDS…AND FUNDS TO HELP HOMEOWNERS HAVEN’T BEEN PAID”
“Apologists for government bailouts push two main myths:
-That all of the bailout funds have been repaid
-That the bailouts helped the average American
But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths.
Today, Romero wrote the following to Congress:
After 3½ years, the Troubled Asset Relief Program (“TARP”) continues to be an active and significant part of the Government’s response to the financial crisis. It is a widely held misconception that TARP will make a profit. The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost).”

APRIL 26

1914 – DEATH OF GEORGE ‘DIVING RIGHT’ BAER, PRESIDENT OF THE PHILADELPHIA & READING RAILROAD CORPORATION, WHICH WAS OWNED BY BANKER J.P. MORGAN
“The rights and interests of the laboring man will be protected and cared for, not by the labor agitators, but by the Christian men to whom God in His infinite wisdom has given the control of the property interests of the country, and upon the successful management of which so much depends”

APRIL 27

1637 – HOLLAND SUSPENDS ALL CONTRACTS DURING TULIPMANIA BUBBLE
Tulip mania or tulipomania (1636-37) was a period during which contract prices for new tulip bulbs in Holland exceeded more than 10 times the annual income of a skilled craftsman. It is generally considered the first recorded speculative bubble (or economic bubble). People from all walks of life sold homes and land at low prices just to speculate on the rising tulip prices. Prices suddenly collapsed in February 1637. By March, tulip prices had crashed by 90 percent or more. There were widespread defaults on purchased contracts. Long-term economic decline followed. The suspension of contracts gave the seller the right to sell contracted bulbs at market prices.

2009 – COMMENT BY DICK DURBIN, US SENATOR, ILLINOIS
“And the banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. And they frankly own the place.”
What was a refreshing bit of true reality in 2009 is even truer today. The finance, insurance and real estate (FIRE) sector tops all sectors in political campaign contributions (or are they investments?) to Washington politicians. The return on their investments are substantial – no indictments of top bankers responsible for the 2008 sub-prime crisis and financial implosion, bailouts galore…and, of course the continuation of the license to print debt money that is loaned to the US – at interest.

APRIL 28

1937 – BIRTH OF SADDAM HUSSEIN, IRAQI PRESIDENT/DICTATOR
Hussein announced in November 2000 that Iraq would no longer accept dollars, only euros, as payment for Iraqi oil. The inherent strength of the US dollar for decades has been passed on the “petrodollar” – the policy that only dollars could be used to purchase oil from any nation. An end or even serious threat to the petrodollar system would reduce the dollar’s value – causing severe economic decline in the US. Many believe this announcement was the major reason, not anything to do directly with the 9/11 attacks in the US, for the US invasion of Iraq.

———————–

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/

 

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REAL Democracy History Calendar: April 16 – 22

realdem

https://realdemocracyhistorycalendar.wordpress.com/2018/04/16/real-democracy-history-calendar-april-16-22/

Subscribe to the REAL Democracy History Calendar, https://realdemocracyhistorycalendar.wordpress.com/about/

#TheDemocracyCalendar #EndCorporateRule #CorporateRule #GetMoneyOut #Democracy #WeThePeopleAmendment #MovetoAmend

MONETARY HISTORY CALENDAR: April 15 – 21

Greenbackk

APRIL 15

1865 – ASSASSINATION OF PRESIDENT ABRAHAM LINCOLN
Under Lincoln’s administration, the US Government issued 450 million “Greenbacks” – interest and inflation free money. They weren’t government bill, bonds or any other debt-bearing note. This was money not borrowed from banks, but created (as authorized in the US Constitution, Article 1, Sec 8) by the government to meet the nation’s needs.

2018 — TAX DAY
Federal and state tax returns are not, due, technically, until April 17 this year. Why are taxes so high? Why does it feel we aren’t getting back in programs and services what we put in? Part of the reason has to do with the hundreds of billions of dollars we spend every year paying interest on the national debt. That interest goes disproportionately to the very wealthy. And that interest would not exist if instead of borrowing that money (including from banking corporations), we created interest-free and inflation-free money as stipulated by Congress in Article 1, Section 8 of the US Constitution. Why be enslaved by debt when we could be liberated by democratic money?

APRIL 16

1804 – BIRTH OF WILLIAM MACLAY, SENATOR OF PENNSLYVANIA IN THE 18TH CENTURY
“Bank bills are promissory notes, and, of course, not money. I see no objection in this quarter.”

1915 – DEATH OF NELSON ALDRICH, LEADER OF REPUBLICAN PARTY IN THE US SENATE
Aldrich was a key proponent of the Aldrich-Vreeland Act, a bill creating a National Monetary Commission in 1908, which studied the problem of monetary instability following the financial Panic of 1907. The Commission played a pivotal role in calling for “reform” of the US monetary system. The Act also established the “Aldrich-Vreeland system” which through the Comptroller of the Currency authorized some banks to issue new money. This helped the US deal with the financial crisis associated with WWI. The expanded money power of the government, however, was meant to be short-lived. The final volume of the Commission’s report called for a privately owned central bank, the “National Reserve Association,” in which “[c]ontrol was to be exercised completely by private bankers.” Passage of this Act was a stepping-stone to passage of the Federal Reserve Act in 1913.

APRIL 17

1790 – DEATH OF BENJAMIN FRANKLIN
Franklin printed the paper money for several of the American colonies, most of which developed their own currency – separate from British money. This was an important revolutionary step toward independence, as well as essential to conduct economic transactions in the colonies since British money was in short supply.

1837- BIRTH OF JP MORGAN, US FINANCIER AND BANKER
John Pierpont Morgan dominated corporate finance and industrial consolidation during his time. His empire consisted of banks but also hundreds of other corporations via interlocking corporate directors and financial investments. The “House of Morgan” was also one of the key players in organizing politically and backing financially the campaign to pass the Federal Reserve Act in 1913, creating the largely private Federal Reserve System.

APRIL 18

2012 – PUBLICATION OF DAILY CENSORED ARTICLE “CARL HERMAN EXPLAINS WORKING WITH THE CRIMINAL 1%: TWO UN SUMMITS, MONETARY REFORM”
“The 99% must achieve factual command of the basic facts how money and credit are created, or else continue their debt-damned existence under an oligarchic and Robber Baron-era structure.
Monetary and credit reform can be understood with three simple areas of facts that are taught in basic economics and easily verified:
1. The US does not have a money supply; we have its Orwellian opposite as a debt supply. This is because the US leading banks won legal right through passage of the 1913 Federal Reserve Act to have private banks and the Fed create debt for what we use as money, and then charge the 99% for its use.
2. The policy choice of a debt supply compounded with interest cause ever-increasing aggregate debt that can never be repaid….
3. Monetary reform creates debt-free money that extinguishes the debt, and allows government to become employer of last resort for infrastructure investment (hard and soft….
Obviously, monetary and credit reform benefits 100% of humanity because it guarantees full employment, optimal infrastructure, and no government debt/interest cost…
Americans cannot be responsible citizens without understanding this fundamental structure of money.”
http://www.dailycensored.com/carl-herman-explains-working-with-criminal-1-two-un-summits-monetary-reform/

APRIL 19

1776 – AMERICAN REVOLUTIONARY WAR OF INDEPENDENCE FROM ENGLAND BEGINS
“In one year (after the Coinage Act of 1764), the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the colonies were filled with the unemployed…The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money which created unemployment and dissatisfaction. The viability of the colonists to get power to issue their own money permanently out of the hands of King George III and the international bankers was the prime reason for the revolutionary war.”
– Benjamin Franklin in his autobiography/memoirs

2014 – STATEMENT OF ANDREI KOSTIN, PRESIDENT AND CHAIRMAN OF THE POWERFUL RUSSIAN VTB BANK
“It is time to change the entire international financial system that considers the dollar the key reserve currency…The world has changed. [China’s] Yuan and [the Russian] Ruble have to take their place in international transactions.”

APRIL 20

1868 – BIRTH OF JOHN HYLAN, MAYOR OF NEW YORK CITY, 1918-1925
“The real menace of our republic is this invisible government, which, like a giant octopus, sprawls its slimy length over city, state and nation. Like the octopus of real life, it operates under cover of a self created screen….At the head of this octopus are the Rockefeller Standard Oil interests and a small group of powerful banking houses generally referred to as international bankers. The little coterie of powerful international bankers virtually run the United States government for their own selfish purposes. They practically control both political parties.”

2010 – PUBLISHED ARTICLE, “BANKING REFORM SELLS BETTER WHEN ‘WALL STREET’ IS MENTIONED”
“Americans are about evenly divided on the merits of giving the federal government new powers to regulate large banks and major financial institutions; however, they offer greater support when the issue is more specifically framed as regulating “Wall Street banks.” http://www.gallup.com/poll/127448/banking-reform-sells-better-wall-street-mentioned.aspx

APRIL 21

1910 – DEATH OF MARK TWAIN, AUTHOR
“There are three kinds of lies: lies, damned lies and statistics.”
”I wasn’t worth a cent two years ago, and now I owe two million dollars.”
“A banker is a man who loans you umbrellas when the sun is shining and demands it back the moment it looks like rain.”
Classic Twain.

1946 – DEATH OF JOHN MAYNARD KEYNES, BRITISH ECONOMIST
Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some…Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

———————–

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/

 

REAL Democracy History Calendar: April 9 – 15

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https://realdemocracyhistorycalendar.wordpress.com/2018/04/09/real-democracy-history-calendar-april-9-15/

Subscribe to the REAL Democracy History Calendar, https://realdemocracyhistorycalendar.wordpress.com/about/

#TheDemocracyCalendar #EndCorporateRule #CorporateRule #GetMoneyOut #Democracy #WeThePeopleAmendment #MovetoAmend

As the opioid epidemic rages, the fight against addiction moves to an Ohio courtroom

WashingtonPost

“We brought suit because we recognized that the companies had to both be held accountable for their long-term marketing practices that really created this market and fostered a misleading attitude toward these drugs as a pain management,”
Yet another example of out of control corporations that place profits over people and communities.

This mammoth historic case is being heard in federal court in Cleveland.

As an aside, Judge Dan Polster threw out several provisions of the campaign finance reform citizen initiative passed by voters in every single precinct except four in the City of Akron in 1998 that AFSC helped lead with the Akron Catholic Commission. Polster was unsympathetic to our efforts to reign in legalized bribery, including political donations/investment from outside sources.

As the opioid epidemic rages, the fight against addiction moves to an Ohio courtroom
https://www.washingtonpost.com/national/as-the-opioid-epidemic-rages-the-fight-against-addiction-moves-to-an-ohio-courtroom/2018/04/07/97b82b84-2636-11e8-874b-d517e912f125_story.html?utm_term=.32b727182583

MONETARY HISTORY CALENDAR: April 8 – 14

grnback

APRIL 8

2009 – TALK BY MONETARY REFORMER JOE BONGIOVANNI, “AMERICA’S DEBT CRISIS AND THE NEED FOR MONETARY REFORM”
Joe promotes public, debt-free money creation by the US Treasury, as opposed to private money creation as debt by the Fed, as the solution to the debt crisis. http://wakeupfromyourslumber.com/joe-bongiovanni-monetary-reform-talk/

APRIL 9

1626 – DEATH OF SIR FRANCIS BACON, PHILOSOPHER, BRITISH LORD CHANCELLOR
“If money be not thy servant, it will be thy master. The covetous man cannot so properly be said to possess wealth, as that may be said to possess him.”

APRIL 10

1816 – CHARTER APPROVED FOR INCORPORATING THE SECOND NATIONAL BANK OF THE UNITED STATES
As with the earlier Bank of the United States, the Second National Bank of the United States was private with many of the largest investors foreigners and those representing great wealth. Congress chartered (licensed) the bank for 20 years. It’s worth remembering that corporate charters are democratic tools once used by sovereign people (that would be We the People) to control and define corporate actions. As a result of bank practices geared to serving the interests of banks/bankers, (including limiting the issuance of money into the economy – which triggered economic stagnation), President Jackson pledged that the bank would not be issued a new charter after its 20-year charter ended. Without a charter – which provides those forming corporations certain legal protections (then and now) – corporations cannot exist.

1858 – DEATH OF THOMAS BENTON, US SENATOR FROM MISSOURI
“I object to the renewal of the charter of the Bank of the United States, because I look upon the bank as an institution too great and powerful to be tolerated in a government of free and equal laws. Its power is that of the purse, a power more potent than that of the sword; and this power it possesses to a degree and extent that will enable this bank to draw to itself too much of the political power of this Union and too much of the individual property of the citizens of these States. The money power of the bank is both direct and indirect.” http://yamaguchy.com/library/benton/benton_187.html

APRIL 11

1932 – PECORA COMMISSION HEARINGS BEGIN – INVESTIGATE CAUSE OF US DEPRESSION
The investigation was launched by a majority-Republican Senate, under the Banking Committee’s chairman, Senator Peter Norbeck. Hearings began on April 11, 1932, but were criticized by Democratic Party members and their supporters as being little more than an attempt by the Republicans to appease the growing demands of an angry American public suffering through the Great Depression. Two chief counsels were fired for ineffectiveness, and a third resigned after the committee refused to give him broad subpoena power. Ferdinand Pecora, an assistant district attorney for New York County was hired to write the final report in January 1933. Discovering that the investigation was incomplete, Pecora requested permission to hold an additional month of hearings. His exposé of the National City Bank (now Citibank) made banner headlines and caused the bank’s president to resign. Democrats had won the majority in the Senate, and the new President, Franklin D. Roosevelt, urged the new Democratic chairman of the Banking Committee, Senator Duncan U. Fletcher, to let Pecora continue the probe. So actively did Pecora pursue the investigation that his name became publicly identified with it, rather than the committee’s chairman. Pecora not only documented a litany of abuses, but also paved the way for remedial legislation. The Securities Act of 1933, the Glass-Steagall Act of 1933 and the Securities Exchange Act of 1934 — all addressed abuses exposed by Pecora. It was only poetic justice when Roosevelt tapped him as a commissioner of the newborn Securities and Exchange Commission. http://en.wikipedia.org/wiki/Pecora_Commission

APRIL 12

1866 – CONGRESS PASSES THE CONTRACTION ACT
The Act authorized the Secretary of the Treasury to begin retiring Greenbacks (public debt-free money first issued by the Lincoln Administration) in circulation and to contract the money supply. By 1876, two-thirds of the nation’s money had been called in by the bankers. A contraction of the money supply when demand is high causes depressions, which is what happened from 1873-79.

1910 – DEATH OF WILLIAM GRAHAM SUMNER, PROFESSOR, YALE UNIVERSITY, MONETARY THEORIST
“For as the currency question is of first importance and we cannot solve it or escape it by ignoring it. We have got to face it and the best way to begin is not by wrangling about speculative opinions as to untried schemes but to go back to history and try to get hold of some firmly established principles.”

1945 – DEATH OF PRESIDENT FRANKLIN D. ROOSEVELT
“The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the Government ever since the days of Andrew Jackson … The country is going through a repetition of Jackson’s fight with the Bank of the United States – – only on a far bigger and broader basis.”

APRIL 13

1743 – BIRTH OF THOMAS JEFFERSON, THIRD PRESIDENT OF THE UNITED STATES
“This institution (the Bank of England) is one of the most deadly hostility against the principles of our Constitution…suppose an emergency should occur…an institution like this…in a critical moment might overthrow the government.”
“And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
“Bank-paper must be suppressed, and the circulating medium must be restored to the nation to whom it belongs.”

APRIL 14

1948 – RETIREMENT OF MARRINER S. ECCLES AS CHAIRMAN OF THE BOARD OF GOVERNORS OF THE US FEDERAL RESERVE BOARD
“That is what our money system is. If there were no debts in our money system, there wouldn’t be any money.”

———————–

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/