MONETARY HISTORY CALENDAR July 6 – 12

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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

1896 – REMARKS OF WILLIAM JENNINGS BRYAN BEFORE DEMOCRATIC NATIONAL CONVENTION, CHICAGO, IL (BRYAN WAS THE DEMOCRATIC PARTY CANDIDATE FOR PRESIDENT)
“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.”

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 8

1839 – BIRTH OF JOHN D. ROCKEFELLER, OIL AND FINANCIAL CAPITALIST
“God gave me my money!”

JULY 9

1778 – FIRST STATES RATIFY THE ARTICLES OF CONFEDERATION
Eight states signed 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 nine 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.”

1983 – PUBLICATION OF “FISCAL POLICY AND RESOURCE ALLOCATION IN ISLAM” Edited by
ZIAUDDIN AHMED, MUNAWAR IQBAL AND M. FAHIM KHAN
“Money creation is a social prerogative and hence the benefits of the process of money creation should accrue to the whole society which can best be achieved through 100 per cent reserve system.”

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. This is authorized in the U.S. Constitution, Article 1, Section 8.

2011 – STATEMENT BY STEVEN KEEN, ECONOMIST, ON QUANTATIVE EASING
“This is the biggest transfer of wealth in history,” as the giant banks have handed their toxic debts from fraudulent activities to the countries and their people.

JULY 12

1804 – DEATH OF ALEXANDER HAMILTON, FIRST SECRETARY OF THE TREASURY
He was a major proponent of First Bank of the United States – a privately owned national bank. The name was to deceive people into thinking that money creation was done by the government instead of corporate banks. The nation’s money was created out of thin air and loaned to the government – at interest – and to private individuals. Eighty percent of the stock was privately held. Hamilton called the public debt “a public blessing” because of his belief that it would tie the wealthy (who would own the government bonds) of the country to the government, and they would, in turn, provide political support for higher taxes, to make sure that there was enough money in the treasury to pay off their principal and interest.

1895 – BIRTH OF BUCKMINSTER FULLER, AMERICAN ARCHITECT, SYSTEM THEORIST, AUTHOR, DESIGNER, INVENTOR, AND FUTURIST
“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”
That’s what the National Emergency Employment Defense (NEED) Act does.

———————–

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, email monetarycalendar@yahoo.com

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