2005 – STATEMENT OF HANS SCHICHT, AUTHOR
“The fact that the Banker is allowed to extend credit several times his own capital base and that the Banking Cartels, the Central Banks, are licensed to issue fresh paper money in exchange for treasury paper, have provided them with free lunch for eternity. Thanks to the stupidity and corruption of the legislators. And thanks to the great pundits and journalists, that never understood the crux of fiat money and thus never managed to explain the blatant, ongoing legalized robbery of the people by means of the financial fiat system!
“For over 150 years this robbery has been going on, recently increasing hyperbolically and building to an ultimate crisis. Year after year the Banker’s slice of the world’s asset baskets has been growing and growing. The Banker has become almighty. Through a network of anonymous financial spider webbing only a handful of global King Bankers own and control it all. Big Brother has come to us in the striped suit of the Banker.” (from “The Death of Banking and Macro Politics” February 9, 2005)
1808 – STATE OF OHIO GRANTS CHARTER TO BANK OF MARIETTA
This was the first bank chartered by the State of Ohio – and one of the earliest of any kind in the state. Once the charter or license was granted, the bank’s directors and stockholders (as with all banks) were provided the incredible privilege not available to farmers, artisans, or workers of any kind – the license to print money. Their paper bills were deemed legitimate by the state government by agreeing to accept them in payment of certain fees, etc.
The legal contradictions between bankers and farmers of that time (as well as today?) is summarized by author Jason Goodwin: “There seemed to be one set of laws for bankers, and another set for everyone else. For subsistence farmers working dawn till dusk the sums involved seemed obscene, and the principles of banking defied common sense. Armed with a charter, a banker could print money on demand to manufacture, out of thin air, a substance other people would pay him to possess. Yet he didn’t own it to begin with: it wasn’t anything but a promise, written on paper, to pay gold on demand—and he didn’t have the gold.”
1847 – BIRTH OF THOMAS EDISON, US INVENTOR
“If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good… If the Government issues bonds, the brokers will sell them. The bonds will be negotiable; they will be considered as gilt edged paper. Why? Because the government is behind them, but who is behind the Government? The people. Therefore it is the people who constitute the basis of Government credit. Why then cannot the people have the benefit of their own gilt-edged credit by receiving non-interest bearing currency… instead of the bankers receiving the benefit of the people’s credit in interest-bearing bonds?”
2004 – RON PAUL, US CONGRESSMAN, SPEAKING TO THE HOUSE FINANCIAL SERVICES COMMITTEE
He referred to the Federal Reserve by stating, “maybe there’s too much power in the hands of those who control monetary policy? The power to create the financial bubbles. The power to maybe bring the bubble about. The power to change the value of the stock market within minutes. That to me is just an ominous power and challenges the whole concept of freedom and liberty and sound money.”
1791 – BIRTH OF PETER COOPER, US INDUSTRIALIST, PHILANTHROPIST (FOUNDED COOPER UNION) AND GREENBACK CANDIDATE FOR PRESIDENT
“The substitution of greenbacks for National bank notes would have the bounty now paid to banks, which, being invested as a sinking fund, would in less than thirty years pay off the whole debt of the country.”
1809 – BIRTH OF ABRAHAM LINCOLN, PRESIDENT OF THE UNITED STATES
“The money power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy.” 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. They were actual US money.
“The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the government’s greatest creative opportunity. The financing of all public enterprise, and the conduct of the treasury will become matters of practical administration. Money will cease to be master and will then become servant of humanity.”
1873 – COINAGE ACT PASSED BY CONGRESS (THE “CRIME OF ‘73”)
The Coinage Act removed silver as a form of currency (“demonetized) – leaving gold as the major form of US currency. The public didn’t realize at first what happened. With silver no longer a form of money, the overall amount of currency dramatically declined, causing the prices farmers received for their produce to drop (deflation) but the cost of their debts rise. Thousand of famers lost their land. Those who held silver also suffered. This was one of the sparks of the rise of the farmer-led US Populist movement.
1728 – DEATH OF COTTON MATHER, AUTHOR, MINISTER AND CONVERT TO PAPER MONEY
“Where money has not been introduced, men are brutish and savage and nothing good has been cultivated.”
2015 – VALENTINE’S DAY – A DAY OF LOVE
In trying to find a link between love and something related to money and debt, came up with this…
Bible, Romans 13:8 “Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law.”
2007 – QUOTE BY BEN BERNANKE, CHAIR OF THE US FEDERAL RESERVE (THE PRIVATE CENTRAL BANK OF THE US), ON THE US ECONOMY
“Despite the ongoing adjustments in the housing sector, overall economic prospects for households remain good. Household finances appear generally solid, and delinquency rates on most types of consumer loans and residential mortgages remain low.”
Less than a year later, the economy collapses due to the reckless housing loans and speculation by the financial industry. Congress passes a $700 billion bailout bill. The economy today has still not recovered.”
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, Deb Jose 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