MONETARY HISTORY CALENDAR December 28-31

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DECEMBER 28

1856 – BIRTH OF WOODROW WILSON, 28TH PRESIDENT OF THE UNTIED STATES
“A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom. This is the greatest question of all, and to this statesmen must address themselves with an earnest determination to serve the long future and the true liberties of men.”
These misgivings, however, were expressed after he signed the Federal Reserve Act, creating the largely private U.S. Federal Reserve System.

1947 – BIRTH OF SPENCER BACHUS, CONGRESSPERSON, ALABAMA, REPUBLICAN CHAIR OF THE HOUSE FINANCIAL SERVICES COMMITTEE
“In Washington, the view is that the banks are to be regulated and my view is that Washington and the regulators are there to serve the banks.”

2013 — DEATH OF MARGRIT KENNEDY, AUTHOR OF OCCUPY MONEY
“At present, we’re stuck in the near vertical part of the exponential growth curve of money assets and debt. In nature the organism harboring this diseased growth would be on the verge of death. Can we even grasp that we’ve lost control — that we don’t rule this system, but it rules us? We need a transition process in which the creative power of money issuance is transferred to new institution that will use this power to benefit society, thereby ending the continuation of our compulsive, boundless expansion of money and debt. Only via a transition of this sort can we initiate a peaceful, evolutionary process that will lead us out of the crisis.”

DECEMBER 29

1809 – BIRTH OF WILLIAM GLADSTONE, CHIEF BRITISH FINANCE MINISTER AND FOUR-TIME BRITISH PRIME MINISTER
“From the time I took office as Chancellor of the Exchequer, I began to learn that the State held, in the face of the Bank and the City, an essentially false position as to finance. The Government itself was not to be a substantive power, but was to leave the Money Power supreme and unquestioned.”
[Note: the Chancellor of the Exchequer is the equivalent to the role of Minister of Finance or Secretary of the Treasury in other nations.]

DECEMBER 30

2008 – FEDERAL RESERVE ANNOUNCES BAIL OUT PLAN
The Federal Reserve Board announces that it expects to begin to purchase up to $500 billion of mortgage-backed securities backed by Fannie Mae, Freddie Mac and Ginnie Mae. Fannie Mae received $116 billion, Freddie Mac $71 billion

DECEMBER 31

1781 – BANK OF NORTH AMERICA CHARTERED BY US GOVERNMENT
This was the nation’s first private commercial bank. The Articles of Confederation was the nation’s constitution at that time. Article 9 of the Articles gave Congress the power to “emit bills of credit” — to create money. By a single vote, Congress voted to willingly transfer their authority to issue money to The Bank of North America when it chartered the bank on December 31. Thus, the Bank served as a quasi-national central bank. Why did Congress willingly give up their money power? The public argument was that the business of finance could not be ably conduced by a public body (Congress) — only by a small number of private financiers. The first head of the Bank was Robert Morris, the richest merchant in America. This same argument against public issuance of money is made today – a public body can’t be trusted to create and distribute our nation’s money supply. The result is the creation and distribution of our nation’s money supply by banking corporations.

1935 – “MONOPOLY” BOARD GAME PATENTED BY U.S. GOVERNMENT
“The Bank never ‘goes broke.’ If the Bank runs out of money, the Banker may issue as much more as needed by writing on any ordinary paper.” – Monopoly board game rule book
This is how it works in real life too, thanks to the US government giving banking corporations the largely monopoly power to issue money when they make loans. This creates money as debt, which must be repaid with interest.

1980 – DEATH OF MARSHALL MCLUHAN, CANDADIAN PHILOSOPHER OF COMMUNICATION THEORY
“Only the small secrets need to be protected. The big ones are kept secret by public incredulity.”
This certainly applies to money creation. Most people are unwilling to believe that the vast majority of money created and circulated in our society is done privately by financial interests.

We hope you have enjoyed this calendar in 2015!
Thanks to everyone who provided suggestions, critiques and support throughout the year.

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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 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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MONETARY HISTORY CALENDAR December 21-27

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DECEMBER 21

2015 – WINTER SOLSTICE
This is the darkest night of the year. For the next 6 months, the days (light) become longer.
This is a fine time to dedicate oneself to shedding greater light on monetary policy. A truly dark and invisible issue, monetary policy as this calendar has tried to demonstrate this entire year is essential to understanding and promoting justice, peace and democracy.
We’ve allowed private (corporate) interests to usurp our power to issue our own money to meet our needs and serve the common good. We’ve ignored monetary policy — believing it too complicated to understand, not connected to the issues we care about, and/or promoted by wild and unstable individuals. We focus, thus, instead on budget policies or tax policies as our only available public tools. We’ve also ignored history — those people and groups in our nation and around the world in the past and present who’ve seen the light, become aware and tried to act against the Money Power (which today are banking corporations and central banks, and those they influence in government, academia and the media) to (re)assert real authority over creating and circulating money.
Money is the ultimate paradox — so involved in almost every aspect of our lives yet virtually unknown on how and for whom it’s created and circulated.
It’s time to shed light on money.

DECEMBER 22

1864 –IRON CITY BANK OF PITTSBURGH IS RECHARTED TO BECOME IRON CITY NATIONAL BANK
The bank was recharted under the new 1864 federal banking law.
Corporations possess no inherent inalienable “right” to exist in the US. They exist because the public via government (state and federal) grants “charters” or licenses to exist under terms established by the government. At one time, charters were democratic tools that rigidly defined the extent of their actions, issued for a limited duration.
Banks were, for obvious reasons, THE most rigidly defined and closely controlled type of corporation with precise limitations placed on capital, interest rates, and residency requirements for directors and transparency of their financial books. And, of course, banking corporations, like all corporations, were prohibited from involvement in political or electoral matters as a means to protect the democratic “body politic.”
When banking corporations violated the terms of their charters and acting “ultra vires” (beyond their authority) the public response was routinely to dissolve their charter and either turn over the company to new owners with a new charter or distribute the banks’ assets to those who were victims of the banks’ actions.
Charters remain democratic tools. Corporations remain creations of the state and federal government. However, our history books nowhere contain this example of this expression of self-governance and, thus, our imaginations of how to control corporate actions are limited to corporate fines and legal actions against executives. Bank fines and even imprisonment of bank officials were and still are no substitute responses to profoundly unlawful banking practices compared to what was at one time a common strategy by our forebears: dissolving corporate charters.

DECEMBER 23

1913 – FEDERAL RESERVE ACT PASSES CONGRESS – CREATING FEDERAL RESERVE SYSTEM
The Act created a largely corporate controlled national banking and currency system, passed in the House by 298-60 and in the Senate by 43-25 and signed by President Wilson on this day. It was a major coup banking corporations through the establishment of a private central bank authorized to “monetize” government debt (i.e. to print their own money and exchange it for government securities or I.O.U.’s). The central banking system was composed of 12 regional private/corporate banks owned by participating commercial banks. All national banks were required to join the system. Banking corporations now controlled the issuance and circulation of our national currency. By controlling our national money faucet, they could create inflation and deflation. This corporate monopolization of our currency allowed for public regulation, but not control. It was now banking corporations, not the US government, that controlled the national currency. The Constitutional power for public creation of our power was handed over to private banking corporations. It’s the ultimate form of “privatization”  – more accurately “corporatization” – of what should be a public function or service.

DECEMBER 24

1294 – PAPACY OF POPE BONIFACE VIII BEGINS
Benedetto Gaetani became Pope of the Catholic Church on Christmas Eve, 1294. He instituted the first Christian “Jubilee” in 1300. Jubilee has both Jewish and Christian roots. According to Wikipedia, “The concept of the Jubilee is a special year of remission of sins and universal pardon. In the Biblical Book of Leviticus, a Jubilee year is mentioned to occur every fifty years, in which slaves and prisoners would be freed, debts would be forgiven and the mercies of God would be particularly manifest.” It was also common for land to be returned.  Pope Boniface VIII conditioned the forgiving of sins and debt on personal confessions and pilgrimages to sacred sites (i.e. basilicas of St. Peter and St. Paul in Rome) at least once a day for a specified time.

DECEMBER 25

2015 YEARS AGO – CLAIMED BIRTH DATE OF JESUS
In his book, Money and its True Function, author FR Burch said, “As long as Christ confined his teachings to the realm of morality and righteousness, He was undisturbed; it was not till He assailed the established economic system and ‘cast out’ the profiteers and ‘overthrew the tables of the money changers,’ that He was doomed. The following day He was questioned, betrayed on the second tried on the third and on the fourth crucified.”

1983 – DEATH OF ROBERT H. HEMPHILL, CREDIT MANAGER, ATLANTA FEDERAL RESERVE BANK
“This is a staggering thought. We are completely dependent on the Commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. ”

DECEMBER 26

2015 – “BOXING DAY”
An annual holiday celebrated in the United Kingdom and other Commonwealth nations. Traditionally, it was when servants or employees would receive gifts from their bosses or employers in “Christmas boxes.” Granting business corporations the power to create and distribute money has been the ultimate financial gift that keeps on giving every time banks create a loan “out of thin air” as debt. The lack of awareness in mainstream society of this current monetary reality and alternatives proposals to democratize money creation boxes, or limits, us as self-governing people to use the authority granted to our government to create our own money to distribute funds where we, not banks, believe are most needed.

DECEMBER 27

1945 – IMF AND WORLD BANK “ARTICLES OF AGREEMENT” ENTERED INFO FORCE
The original International Monetary Fund Articles of Agreement were adopted at the United Nations Monetary and Financial Conference at Bretton Woods, NH on July 22, 1944. They were entered into force on this date. Both institutions have used their “money power” of loan making to dictate financial and economic conditions on governments around the world.

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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 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

Response to PD article, “Lobbyist-tilted playing field favors FirstEnergy and AEP in Columbus”

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Lobbyist-tilted playing field favors FirstEnergy and AEP in Columbus: Thomas Suddes
http://www.cleveland.com/opinion/index.ssf/2015/12/lobbyist-tilted_playing_field.html#incart_river_home

My comment to this article (posted at end):

In a real democratic world, Mr. Suddes, citizens would win — every time. But that’s not our current “real world.” Sadly, that world is one where the Constitution has defined corporations as “legal persons” with inalienable Bill or Rights and other protections (including 1st Amendment “free speech” rights) and money is defined as equal to “free speech.” Both constitutional doctrines have permitted corporate entities and the super wealthy to hijack politics and government — including regulatory agencies which do a stellar job of regulating, though, not abolishing harms, regulating citizen input and activism, and shielding like a football offensive line We the People from those entities which have captured the regulatory agencies.

It’s an identical story on just about every issue that the corporate crowd cares about — identical regarding lobbyists with unequal political access, corporate campaign contributions (actually investments) drowning out the voices of the majority of citizens, a captured regulatory agency. Identical. No need to write another story from scratch. Just substitute corporations, # of lobbyists, amount of campaign money, and regulatory agency and voila — new story on a new issue which conveys the same exact story — that out country is broken because the system is fixed, which will remain so for ever and ever until we end the insanity via constitutional amendment of corporate “personhood” and money equaling “free speech.”

Move to Amend’s We the People Amendment, https://movetoamend.org/wethepeopleamendment, does just this. Citizens across the country, including Ohio, are working to put pressure on Congress to pass this amendment by building a grassroots movement. Ten Ohio communities have already passed council resolutions and 7 communities have passed ballot initiatives calling for this amendment. Many Ohio communities (including Cleveland, Newark, S. Euclid) are working for a November 2016 ballot measure.

This nonsense will never change by simply changing elected officials or laws. We have to change constitutional ground rules.

If interested in working on this fundamental form of change, email ohio@movetoamend.org.

 

NEO AFSC December 18, 2015 Podcast

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Listen to podcast here

We summarize last week’s activities; share upcoming events for next week; and comment on the Public Utility Commission of Ohio’s settlement proposal to bail out 2 FirstEnergy Corporation dirty plants, the “ lobbyist-wrapped Christmas present for our nation’s biggest corporations” federal spending bill, Walmart corporation destroying jobs, the proposed merger between DuPont and Dow chemical corporations, and the good news that the TransPacific Partnership deal may not be voted on in 2016.

REAL Democracy History Calendar – sign up invitation!

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We are pleased to announce the creation of a new resource: the REAL Democracy History Calendar.

You are invited to sign up to this new free weekly email resource – to be sent out beginning January 1, 2016. To sign up, go here.

Corporate entities and individuals of extreme wealth have to a major extent captured our government and economic institutions. Basic political, economic and human rights are in decline. The result is a lack of real democracy — defined as the ability of those who are affected by decisions having an authentic voice in the shaping of those decisions.

However, people have always strived for basic rights, resisted oppression, created alternative structures, and sought to control the power and influence of corporate entities and extreme wealth in society through education, advocacy and social movement organizing.

To sign up, go here.

The REAL Democracy History Calendar will provide 1-2 listings per day sent by email every Monday morning of activities, events, quotes from prominent individuals and/or other occurrences (both past and recent) on the themes of democracy, human rights, corporate power and rule, and wealth in society (especially in elections).

The Calendar is a joint production of the Northeast Ohio American Friends Service Committee (AFSC) and Program on Corporations, Law & Democracy (POCLAD). Much of its base comes from our research and writings on these themes over the last two decades.

Our goal is to inform, intrigue and inspire — and to illuminate the reality that creating real democracy will not happen by changing any one politician, passing/repealing any one law or regulation, or reversing any single Supreme Court decision. It requires, rather, changing our political, economic and social culture – one byproduct of which will be to democratize our legal structures through genuinely inclusive, multi-issue, nonviolent social movements.

To sign up, go here.

Below are postings over the next several weeks – to provide a flavor of the Calendar’s contents that would be sent by email each week beginning January 1.

If you feel this would be valuable information to you, please sign up! And please spread the word to others!

Thank you for your consideration.

REAL Democracy History Calendar
December 14-20

December 14

1799 – Death of George Washington, first President of the United States of America – need for coercive power
“We probably had too good an opinion of human nature in forming our confederation. Experience has taught us that men will not adopt and carry into execution measures the best calculated for their own good, without the intervention of a coercive power,” said George. According to historian Charles Beard in “An Economic Interpretation of the Constitution of the United States,” Washington was probably the richest man in the colonies at the time of the Revolution.

1896 – Covington & L. Turnpike Road Co. v. Sandford (164 U.S. 578) Supreme Court decision – corporations are persons
The Court declared, “it is now settled that corporations are persons, within the meaning of the constitutional provisions forbidding the deprivation of property without due process of law, as well as a denial of the equal protection of the laws.”

December 15

1791 – Ratification of the Bill of Rights
The first 10 Amendments to the Constitution were adopted to protect We the People from excesses of government and to affirm certain inalienable rights of human beings. At the time, however, We the People were only white males who owned property and were over 21 years old. Each state decided how much property must be owned to qualify to vote or run for office

1986 – Justice William Brennan delivered opinion of Supreme Court in Federal Election Committee v. Massachusetts Citizens for Life, Inc. (479 U.S. 238) – spending by corporations in elections may make them formidable power
“Direct corporate spending on political activity raised the prospect that resources amassed in the economic marketplace may be used to provide an unfair advantage in the political marketplace…The resources in the treasury of a business corporation…are not an indication of popular support for the corporation’s political ideas. The availability of these resources may make a corporation a formidable political presence, even though the power of the corporation may be no reflection of the power of its ideas.”

December 16

1773 – Colonists stage Boston Tea Party to protest British Tea Act
Parliament passed the Tea Act, which provided the East India Trading Company complete access to the colonies and exempted it from paying taxes to the colonies – increasing the profits to company stockholders, which included Parliament members and the King. This undercut colonial tea merchants who were required to pay taxes on tea.
Boston Tea Party participants saw themselves as anti-corporate protestors. Their call for “no taxation without representation” was not one against paying taxes, but rather an insistence that every entity – including the East India Company – should pay their fair share and that no entity should be taxed without governmental representation.

December 17

1964 – Death of Alexander Meiklejohn, Philosopher and Educator – on 1st Amendment and freedom threatened by dominant business enterprises
The 1st Amendment “does not intend to guarantee men freedom to say what some private interest pays them to say for its own advantage. It intends only to make men free to say what, as citizens, they think.”
“[I]nsofar as a society is dominated by the attitudes of competitive business enterprise, freedom in its proper American meaning cannot be known, and hence, cannot be taught. That is the basic reason why the schools and colleges, which are, presumably, commissioned to study and promote the ways of freedom are so weak, so confused, so ineffectual.”

December 18

1882 – Death of Henry James, Sr. – on democracy
“Democracy is not so much a new form of political life as a dissolution and disorganization of the old forms. It is simply a resolution of government into the hands of the people…”

December 19

2009 – Publication this month of article, “People as Property: Criminalizing Color, Dissent and Impoverishment through the Prison-Industrial Complex” by Karen Coulter, principal of the Program on Corporations, Law & Democracy (POCLAD)
“Slavery and involuntary servitude were supposedly abolished by the 13th amendment to the Constitution. However, the amendment reads that slavery and involuntary servitude shall no longer exist in the U.S. ‘except as punishment for crimes whereof the party shall have been duly convicted’…Then there are the investors in the prison industry: American Express Corporation invested millions in private prison construction in Oklahoma; General Electric Corporation financed prison construction in Tennessee; Goldman Sachs, Merrill Lynch, Smith Barney, and other Wall Street investment firms made big profits by underwriting prison construction with the sale of tax-exempt bonds, a 2.3 billion dollar industry as of 1997. Some of the largest Wall Street investment corporations started buying bonds and securities from private prison corporations in the ’90’s and reselling them for profit to individual investors, mutual funds and others, literally speculating in the growth of locking up more and more people. The rise of the prison industrial complex can be accurately seen as part of a profound transformation restructuring U.S. economic development and its forms of social control. Philip Wood identifies corporate colonization of decision-making structures as a key element of the changes in U.S. public policy supporting the expansion and privatization of the prison industry.” http://www.poclad.org/BWA/2009/BWA_2009_DEC.html

December 20

1902 – Birth of Sidney Hook, American philosopher – democracy is like love
“Democracy is like love in this: it cannot be brought to life by others in command.”

REAL Democracy History Calendar
December 21-27

December 21

1885 – Corporate lawyers claim railroad corporation’s 14th Amendment rights violated
In San Mateo v. Southern Pacific R. Co., 13 F. 722 (C.C.D. Cal. 1882), corporate lawyers attacked a provision of the California Constitution that assessed higher property taxes against railroad corporations than against non-corporate properties. The attorneys charged that the state violated the railroad’s “rights” under the Equal Protection Clause of the Fourteenth Amendment. The parties settled the case before the Supreme Court announced a decision; however, the argument would be used one year later in what would become the very first time corporations were granted 14th Amendment “rights” by the Supreme Court in Santa Clara County v. Southern Pacific Railroad Company, 118 US 394.

December 22

1970 – Birth of Senator Ted Cruz (R., Texas) – politicians are open to the highest bidder
“Lobbyists and career politicians today make up what I call the Washington Cartel. … [They] on a daily basis are conspiring against the American people. … [C]areer politicians’ ears and wallets are open to the highest bidder.”

December 23

1913 – Congress passes Federal Reserve Act – Creating Federal Reserve System
The Act created a largely corporate controlled national banking and currency system, passed in the House by 298-60 and in the Senate by 43-25 and signed by President Wilson on this day. It was a major coup for banking corporations through the establishment of a private central bank authorized to “monetize” government debt (i.e. to print their own money and exchange it for government securities or I.O.U.’s). The central banking system was composed of 12 regional private/corporate banks owned by participating commercial banks. All national banks were required to join the system. Banking corporations now controlled the issuance and distribution of our national currency. By controlling our national money faucet, they could create inflation and deflation. This corporate monopolization of our currency allowed for public regulation, but not control. It was now banking corporations, not the U.S. government, that controlled the national currency. Congress handed its Constitutional power under Article 1, Section 8 to create our money over to private banking corporations. It’s the ultimate form of “privatization” – more accurately “corporatization” – of what was meant to be, and should be a public function or service.

December 24

1962 – Birth of David Cobb, national Outreach Director for Move to Amend and principal of the Program on Corporations, Law & Democracy (POCLAD)
Cobb debated James Bopp in September, 2014 at Indiana University in Bloomington, IN on “Citizens Divided: Corporate Money, Speech, and Politics.” Bopp is General Counsel for the James Madison Center for Free Speech and was lead attorney for Citizens United, the group that argued their corporate 1st Amendment “speech rights were violated when prevented to air a political program just prior to the election.”
The “debate” turned out to be one-sided – with Cobb presenting a much stronger case for why corporations should not be granted “personhood” rights and money should not be granting “free speech” rights than Bopp arguing the reverse.
Watch the debate at https://www.youtube.com/watch?v=ijSsZdCatTM

December 25

2015 – Christmas – Jesus attacks “money changers” Celebrated birth of Jesus Christ in Christian calendar.
In his only public act of violence, Jesus drove the “money changers” with a whip of chords out of the sacred Temple in Jerusalem, which he called “my Father’s house.”
Modern-day money changers are banking corporations – the most economically and politically dominant of all corporations. They have captured our most sacred democratic “house” – our government. They, too, along with all other corporations, need to be driven out of our government.

December 26

2015 – Boxing Day – corporate personhood, money equals free speech and U.S. Constitution “boxes” activists into small spaces of what is doable
“Boxing Day” is an annual holiday celebrated in the United Kingdom and other Commonwealth nations. Traditionally, it was when servants or employees would receive gifts from their bosses or employers in “Christmas boxes.”
Many Supreme Court decisions anointing corporations as legal “persons” and money as “free speech,” as well as many limitations of the U.S. Constitution (i.e. no direct election of President, no national initiative provision, no definition of economic rights, among many others) have been anything but gifts to individuals striving for real democracy. They have, rather, “boxed” activists into ever-smaller spaces concerning what laws and regulations can be passed. Unable to limit the amount of money in elections from individuals and corporate entities and incapable of preventing corporations from asserting Bill of Rights protections, the super wealthy and corporate entities have captured greater portions of public policies and public spaces and, in turn, shrinking these public arenas for the vast majority of citizens.
For background on limitations of and possibilities for a more democratic Constitution, see http://poclad.org/BWA/2007/BWA_2007_DEC.html and http://poclad.org/BWA/2007/BWA_2007_MAR.html#3

December 27

1907 – Death of John Chandler Bancroft Davis – unilateral action yielded first Supreme Court corporate “personhood” decision
Davis played a historical role in the corporate personhood debate. As the court reporter in Santa Clara County v. Southern Pacific Railroad (118 U.S. 394, 1886), his responsibility was to prepare ‘a summary-of-the-case commentary.’ He wrote in the headnote to the decision that Chief Justice Morrison Waite began his oral argument of the court’s opinion by stating, ‘The court does not wish to hear argument on the question whether the provision in the Fourteenth Amendment to the Constitution, which forbids a State to deny to any person within its jurisdiction the equal protection of the laws, applies to these corporations. We are all of the opinion that it does.”
Davis’ published reports and notes from 1885-1886 contained his views on the Santa Clara case: ‘The defendant Corporations are persons within the intent of the clause in section 1 of the Fourteenth Amendment to the Constitution of the United States, which forbids a State to deny to any person within its jurisdiction the equal protection of the laws.”
Thom Hartman and other journalists and authors charged Davis with a conflict of interest as previous President of the Newburgh and New York Railway in his role in the Supreme Court ruling. https://en.wikipedia.org/wiki/Bancroft_Davis

REAL Democracy History Calendar
December 28-31

December 28

1856 – Birth of Woodrow Wilson, 28th President of the United States of America – on the need for corporations and government to work together
“Since trade ignores national boundaries and the manufacturer insists on having the world as a market, the flag of his nation must follow him, and the doors of the nations which are closed against him must be battered down. Concessions obtained by financiers must be safeguarded by ministers of state, even if the sovereignty of unwilling nations be outraged in the process.“ http://www.washingtonsblog.com/2014/09/usa-sponsored-terrorism-mid-east-since-least-1948.html

1947 – Birth of Spencer Bachus, former Republican Chair of the US House Financial Services Committee – regulators serve banks
“In Washington, the view is that the banks are to be regulated and my view is that Washington and the regulators are there to serve the banks.”

December 29

2014 – Big money breaks out: Top 100 donors give almost as much as 4.75 million small donors combined
“The 100 biggest campaign donors gave $323 million in 2014 — almost as much as the $356 million given by the estimated 4.75 million people who gave $200 or less,” a POLITICO analysis of campaign finance filings found.
‘When 100 big donors give as much almost 5 million small donors, with whom do we expect candidates to spend their time, and whose interests do we think they will represent?’ McKinnen asked. ‘That’s not democracy. That’s oligarchy.’”
Read more: http://www.politico.com/story/2014/12/top-political-donors-113833#ixzz3ta7ebjxE

December 30

2011 – Pittsburgh City Council passes resolution calling for a constitutional amendment to abolish corporate personhood
The resolution also called for returning elections to the American people.

December 31

1945 – Birth of Harvey Wasserman – exposes fraudulent electronic voting machines
Wasserman is an anti-nuclear and safe energy activist, journalist and senior editor of the Columbus Free Press. He has co-authored numerous articles with Bob Fitrakis on election fraud of elections since 2000, with special emphasis on the 2000 and 2004 election results in Ohio.
Wasserman and Fritakis have recently written.
“The way our electoral process now stands, electronic voting machines guarantee a Republican victory in 2016…
“Source codes remain “proprietary,” so the public has no control over the private machines on which our allegedly democratic elections are conducted. There is no usable paper trail, transparency or accountability.
“We are concerned that all voters get fair access to the polls, and all votes are fairly counted, no matter who the candidate. We have no doubt the Democratic Party would be just as willing to flip elections from Republicans as vice versa, and that both have, can and will do the same to the Green Party and other challengers.
“So we support universal hand-counted paper ballots, automatic universal voter registration, a four-day national holiday for voting, major restrictions on campaign spending and a wide range of additional reforms meant to guarantee some kind of democracy in the United States.”
http://www.truth-out.org/news/item/31511-why-hillary-can-t-win

MONETARY HISTORY CALENDAR December 14-20

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DECEMBER 14

1799 – DEATH OF GEORGE WASHINGTON, FIRST US PRESIDENT
The First Bank of the United States (the 2nd central bank, privately owned) was chartered for 20 years by Congress and signed into law by George Washington, the first President of the United States under the US Constitution. At the end of the 20 years, Congress determined the bank did not serve the public interest and, therefore, did not renew its charter.

DECEMBER 15

1793 – BIRTH OF HENRY CAREY, PRESIDENT LINCOLN’S CHIEF ECONOMIC ADVISOR
Carey advised Lincoln on creating public money, Greenbacks, rather than take loans from private banks. He helped prevent the destruction of Greenbacks by the National Banking Act and its subsequent modifications (which were presented as monetary “reforms”) by banks but with the intent of eliminating Greenbacks.

2008 – PNC FINANCIAL SERVICES CORPORATION ACQUIRES NATIONAL CITY BANKING CORPORATION
The Federal Reserve Board announced that it has approved the application of PNC Financial Services to acquire National City Corporation. PNC was a major recipient of federal bailout funds. Rather than use the funds to help distressed underwater homeowners, the Pittsburgh based banking corporation used the funds to acquire Cleveland-based National City Bank, and thus, contributing to a further consolidation and concentration of the “too-big-to-fail” banking industry in the United States.

DECEMBER 16

1863 – BIRTH OF GEORGE SANTAYANA, PHILOSOPHER
“Those you cannot remember the past are condemned to repeat it.”
[Note: Providing financial institutions the power to create and distribute money has in the past been economically, if not politically, harmful to the vast majority of individuals. It remains so in the present.]

2014 – PRESIDENT OBAMA SIGNS FEDERAL SPENDING BILL WITH A BANK BAILOUT PROVISION
The $1.1 trillion spending bill contained a “rider,” or separate provision, that bails out banking corporations if their speculative derivative investments tank. The rider was essentially identical language contained in an earlier bill, HR 992, which was largely written by lobbyists of Citigroup Corporation, according to emails obtained by the New York Times. The rider weakened the already weak Dodd-Frank bank “reform” legislation.

DECEMBER 17

1784 – BIRTH OF WILLIAM LYON MACKENZIE KING, 10TH PRIME MINISTER OF CANADA (1935-1948)
“Once a nation parts with the control of its currency and credit, it matters not who makes the nations laws. Usury, once in control, will wreck any nation. Until the control of the issue of currency and credit is restored to government and recognized as its most sacred responsibility, all talk of the sovereignty of parliament and of democracy is idle and futile.”

2010 – NATIONAL EMERGENCY EMPLOYMENT DEFENSE (NEED) ACT, HR 6550, IS INTRODUCED IN CONGRESS
Congressman Kucinich (D-OH) introduced a dramatic new proposal to establish fiscal integrity, reassert Congressional sovereignty and regain control of monetary policy from private banks.  The NEED Act would allow the federal government to directly fund badly-needed infrastructure repairs and fund education systems nationwide by spending money into circulation without increasing the national debt.  The bill would end the current practice of fractional reserve lending, whereby the economy depends upon private financial institutions to lend money into circulation.
Congressman Kucinich stated, “The staggeringly bad employment and economic numbers represent a massive problem which cries out for bold action.  Rather than crossing our fingers and hoping that banks will finally lend some of the billions of public dollars they haven’t thus far seen fit to lend, we can take action. My bill would replace the Federal Reserve System’s dependence on private banks to create credit.  In its place, a Monetary Authority under the Treasury Department would directly inject liquidity into the economy by purchasing much-needed public infrastructure repair. Today, we have idle capital, millions of able-bodied but unemployed workers, unused equipment, and record low interest rates. These conditions are the best possible time to make a long-term investment in our nation’s infrastructure. My bill would do exactly that.”
The bill was reintroduced in 2011, (HR 2990)

DECEMBER 18

1977 – DEATH OF MARRINER S. ECCLES, FORMER CHAIRMAN AND GOVERNOR OF THE FEDERAL RESERVE SYSTEM
“That is what our money system is. If there were no debts in our money system, there wouldn’t be any money. ”

2013 – STATEMENT BY ROBERT FRANK, CNBC REPORTER AND EDITOR, “QE: THE GREATEST SUBSITY TO THE RICH EVER”
“The largesse of the Federal Reserve over the past five years has amounted to one of the largest ever subsidies to the American wealthy – fueling record fortunes, record numbers of new millionaires and billionaires, and an unprecedented shopping spree for everything from Ferraris to Francis Bacon paintings. The prices of the assets owned by the wealthy, and the things they buy, have gone parabolic, bearing little relationship to the weak, broader economy.
More millionaires have been created over the past five years than during the entire eight years of the Bush administration. According to Spectrem Group, there were 2.3 million new millionaires created between 2008 and 2012. This year, the number will likely grow by at least 200,000, which would bring the millionaire population past its previous record in 2007.
[..] According to Wealth-X, the top 10 billionaires in America saw their fortunes grow by a combined $101.8 billion this year. [..] Fed policy has fueled a surge in the value of financial assets. Since the wealthiest 5% of Americans own 60% of financial assets, and the top 10% own 80% of the stocks, those gains in financial assets have gone disproportionately to a small group at the top.”

DECEMBER 19

1753 – DEATH OF JOHN TAYLOR OF CAROLINE, US SENATOR OF VIRGINIA
“If no new banks should be created after 1808, nor the acquisition of the old increased, the five millions annually collected by the existing banks, at compound interest carry from the public to the corporations, in twenty years, above one hundred and eighty-four millions of dollars. Here is already a vase current of money and power running one way.”

DECEMBER 20

1666 – FREE COINAGE LAW PASSED, ENGLAND
Charles II placed control of the nation’s money supply in private (bankers) hands following passage of this act. Up until that time, the Sovereign (King, Queen, etc.) had exclusive power over the issuance of money creation.

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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 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

Indictments are inevitable in the Tamir Rice case

Tamir Rice

The recent report reviewing the new video of the death of Tamir Rice concluded that the 12-year-old boy had his hands in his pockets when he was shot and wasn’t reaching for the pellet gun he’d been carrying. Rice didn’t have enough time to remove his hands from his pocket before being shot and killed, according to the expert who reviewed the video.

The new report is the third that the Rice family and others believe represents more than enough evidence to present to a grand jury as it considers whether indictments against two police officers should be brought.

There is no question after more than a year after the killing of Rice that there will be indictments. The question is which of two indictments will it be.

Will it be indictments of both of the Cleveland police officers for their role in Rice’s death?

It’s been said that the evidence for an indictment before a grand jury is so meager that a prosecutor can indict a ham sandwich. We’re not talking about evidence that proves guilt, but rather simply enough evidence to warrant charges and a subsequent trial. It’s absolutely clear to any objective person who’s seen the video and now read the expert reports that the very low legal bar indictment threshold has been met.

Nevertheless, there is no guarantee that Cuyahoga County prosecutor Timothy McGinty will bring indictments against both Cleveland police officers.

If he doesn’t, then there will be the second type of indictments – by much of the Cleveland community and nation at-large against the Cleveland Police Department and the so-called “justice” system of the City of Cleveland and Cuyahoga County. It will be blatantly obvious that there is no justice, fairness, accountability and responsibility of these entire institutions and structures. There will be demands for not simply a change of perceived responsible elected officials, but a demand for fundamental changes of laws, regulations and rules that are inclusive and representatives of community voices and interests.

One or the other form of indictments will take place when McGinty makes his decision. If he doesn’t directly indict both involved Cleveland police officers, he will have chosen indirectly an indictment of several institutions, including his own office and much of the rest of what will be the misnamed city and county “justice” system.