1980 – CONGRESS PASSES MONETARY CONTROL ACT
Popularly known as the Depository Institutions Deregulation and Monetary Control Act of 1980. The Federal Reserve Board of Governors was provided with increased control over monetary policy and non-member financial institutions – requiring all financial institutions to follow Federal Reserve (a mostly private institution) regulations.
1729 – PUBLICATION OF “A MODEST ENQUIRY INTO THE NATURE AND NECCESITY OF A PAPER CURRENCY” BY BENJAMIN FRANKLIN
The “father of paper money” and a printer, Franklin’s publication circulated throughout the colonies. He was a strong advocate of colonies printing their own money. The publication helped him earn contracts to print paper money for Pennsylvania, New Jersey and Delaware.
“A legitimate government can both spend and lend money, while banks can only lend significant amounts of their promissory bank notes. Thus when bankers place money in circulation there is always a debt principal to be returned and usury to be paid.”
SPECIAL ANNOUNCEMENT — FOR THOSE WHO LIVE IN NORTHEAST OHIO
Monday, April 11: Workshop on Public Forum on Democratizing our Money System featuring Stephen Zarlenga, Director, American Monetary Institute, 7 PM, Peace House, 10916 Magnolia Ave., University Circle, Cleveland.
Zarlenga and the American Monetary Institute have worked with Rep. Kucinich on the National Emergency Employment Defense Act. Details of the April 11 program at http://www.afsc.net/PDFFiles/ZarlengaFlyer.pdf
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 firstname.lastname@example.org For more information, visit http://www.afsc.net/economiccrisis.html