MONETARY HISTORY CALENDAR September 4 – 11

Greenbackk

SEPTEMBER 4

2014 – QUESTIONS AND ANSWERS ON INDEPENDENCE AND MONETARY REFORM — VIDEO
Skip to 2:21:50 for the start of the question and answer session on how Scotland can change the banking and monetary system — not only in their own country but in setting a model for the world in democratizing money creation

SEPTEMBER 5

1927 – BIRTH OF PAUL VOLKER, FORMER CHAIR OF THE FEDERAL RESERVE BOARD
QE3 (the third round of Quantitative Easing – the creation and distribution of money by the Federal Reserve, which went largely to financial and other corporations) is the “most extreme easing of monetary policy” that he could ever remember. “Another round of QE is understandable – but it will fail to fix the problem. There is so much liquidity in the market that adding more is not going to change the economy.”

2016 – LABOR DAY IN THE UNITED STATES
Begun by President Cleveland in 1894 as a means to distract attention and break solidarity of US workers from workers around the world that celebrated worker progress and activism on May Day (May 1).
The enactment of the National Emergency Employment Defense (NEED) Act, HR 2990 in the last Congress, would create 7 million jobs. The jobs would focus on repairing our nation’s infrastructure. The debt would not need to be raised. Taxes would not need to be imposed. Funding from any other public program would not have to be shifted. Public creation and circulation of U.S. money is all that would be required. Just as the colonists did when fighting the British. Just as President Lincoln did during the 1860 when creating Greenbacks. Just as economists proposed under the “Chicago Plan” during the 1930’s to President Roosevelt to move the nation out of the Great Depression.
For more information on the NEED Act, go to http://www.monetary.org

SEPTEMBER 6

1943 – DEATH OF RICHARD MCKENNA, FORMER PRESIDENT, 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.”  (From a 1924 speech)

1948 – BIRTH OF BILL BONNER, FINANCIAL AUTHOR
“The entire world economy rests on the consumer. If he stops spending the money he doesn’t have on things he doesn’t need we’re done for.”

1951 – BIRTH OF WILLIAM BLACK, AMERICAN LAWYER, ACADEMIC, AUTHOR AND FORMER BANK REGULATOR
“The best way to rob a bank is to own one.”

SEPTEMBER 7

1867 – BIRTH OF JP MORGAN, JR, BANKER
Morgan was instrumental is providing financing several nations during World War I, including loans and other financial support to France, England and Russia. Accusations were made that this financial commitment led him to influence the Wilson Administration to enter the war.

2006 – STATEMENT OF NOURIEL ROUBINI, US ECONOMIST
Roubini warns the International Monetary Fund about a coming US housing crash, failures of mortgage-backed securities failures, bank failures, and a major recession. His work was based partly on his study of recent economic crises in Russia (1998), Argentina (2000), Mexico (1994), and Asia (1997). His warnings proved to be correct.

2013 – DEATH OF ALBERT BARTLETT, EMERITUS PROFESSOR OF PHYSICS AT THE UNIVERSITY OF COLORADO AT BOULDER
“The greatest shortcoming of the human race is our inability to understand the exponential function.”  [Note: Exponential growth requires exponential resources – which are finite. If we have no energy, we have no economy.  Also, exponential growth is mandatory under a debt-based money system since exponential natural resources must absolutely be plundered to produce endless stuff to sell to pay off the endless compounding/exponential interest connected to the endless debt. Multiple crashes are inevitable.]

SEPTEMBER 8

1999 – DEATH OF HERBERT STEIN, FORMER CHAIRMAN OF PRESIDENT’S COUNCIL OF ECONOMIC ADVISORS
“If something cannot go on forever, it will stop.”
[Note: Sounds like our current debt-based money system – an unsustainable system which can only continue if more debt is issued, which happens by banks when they issue loans and purchase treasury bonds, bills and notes]

SEPTEMBER 9

1801 – DEATH OF ROBERT YATES, POLITICIAN AND JUDGE
“I can scarcely contemplate a greater calamity that could befall this country, than be loaded with a debt exceeding their ability ever to discharge. If this be a just remark, it is unwise and improvident to vest in the general government a power to borrow at discretion, without any limitation or restriction.” – Brutus pseudonym, probably Robert Yates

1828 – BIRTH OF LEO TOLSTOY, RUSSIAN WRITER AND SOCIAL REFORMER
“Money is a new form of slavery, and distinguishable from the old simply by the fact that it is impersonal, there is no human relation between master and slave.”

1890 – BIRTH 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.”

SEPTEMBER 10

2015 — 11TH ANNUAL MONETARY REFORM CONFERENCE, SPONSORED BY THE AMERICAN MONETARY INSTITUTE
The conference brings together some of the world’s most serious advocates of real and achievable monetary reforms. http://www.monetary.org/2015-ami-monetary-reform-conference
“The banking disaster, created and facilitated by false economic and monetary ideas, used by some very bad people, actually poses a real danger to the survival of the species. We must transform the ongoing disaster into an opportunity to achieve real and lasting monetary reforms for mankind. These are the reforms indicated as necessary by decades of study and centuries of experience…
“The main cause of the problem is using debt in place of money when the banks make loans, as our present system does. That single error, allowing banks to control our money system, promoted by those really trying to block monetary reform, and by some economics professors trying to keep their salary checks coming, is all it takes to wreck any monetary system, and begin the insane concentration of wealth, into exactly the wrong hands, as we now see in our society! The conference shows why money must be created by our government and spent into circulation on infrastructure, healthcare, and education. The conference highlights recent important moves in that direction by key people, and institutions, around the world.
“We have a once in several generations’ opportunity to fix an obviously flawed money system that is causing so much pain and hardship among a growing section of our people. It is clearly time to fix our monetary and banking system! Come and find out how, and the role you can play in that process.”
[Note: the 12 annual conference is September 29 – October 2. More information at http://www.monetary.org ]

———————–

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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