REAL Democracy History Calendar: December 26 – January 1

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https://realdemocracyhistorycalendar.wordpress.com/2016/12/26/real-democracy-history-calendar-december-26-january-1/

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MONETARY HISTORY CALENDAR December 25-31

grnback

DECEMBER 25

2016 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. ”

2014 – “LINKING SOCIAL JUSTICE TO MONETARY REFORM” BY NICK EGNATZ ARTICLE POSTED
“Social Justice is the struggle to make society work for the vast majority of people. The comprehensive monetary reform of the NEED Act is the necessary first step on the path to realization of this struggle. The following ten points are the major social issues in which I will try to link social justice with monetary reform.”
http://www.alpheus.org/linking-social-justice-to-monetary-reform/

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.

DECEMBER 28

1856 – BIRTH OF WOODROW WILSON, 28TH PRESIDENT OF THE UNTIED STATES
“The great monopoly in this country is the monopoly of big credits. So long as that exists, our old variety and freedom and individual energy of development are out of the question. 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.”
http://www.gutenberg.org/files/14811/14811-h/14811-h.htm

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 handing over to banking corporations the license to issue money when they make loans. This creates money as debt, which must be repaid with interest.

1980 – DEATH OF MARSHALL MCLUHAN, CANADIAN 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.

———————–

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
To see the calendar year-to-date, go to https://monetarycalendar.wordpress.com/

Electoral College Hijacks Democracy — Again

electoral-college-29-s

Today is a historic day. Only 5 times in the history of the United States of America has a select number of individuals come together to overrule the will of a majority of voters who case their ballots for the President of the United States.

Those Overrulers are members of the Electoral College. Despite Hillary Clinton winning the popular vote by over 2 million individuals, Donald Trump won the majority of “Electoral College” votes — a relic of early U.S. history established to protect the political power of slave states from “free” northern states.

We are, thus, enslaved over the next four years with being ruled by a President without a popular mandate — again. Our undemocratic Constitution has once more delegitimized and corroded what remains of our democratic republic.

Over the last six months, we’ve seen three grotesque examples of democratic people power being hijacked by the power elite (I.e. wealthy individuals and corporations):

1.    Last summer, ExxonMobil Corporation argued in court against publicly releasing documents on what they knew about the effects of human activities, specifically the burning of fossil fuels, on climate change. Their defense was that such a release of such information was a violation of their 1st Amendment free speech, 4th Amendment search and seizure and 14th Amendment due process constitutional “rights.”

2.    Over the past two years, the impact of political contributions from the super wealthy and corporations from the Presidential level on down (or up, depending on your view) to the federal Congressional and state levels have drowned out the voices of people and constituencies trying to raise critical issues, perspectives and alternatives without access to millions of dollars to run political ads during the current election cycle. It’s nothing new. It was just worse that the previous election cycle, which was worse than the preceding cycle.

3.    The candidate for President of the United States who received two million more votes than her closest competitor lost to that competitor because of some arcane, slavery-era Constitutional provision.
Some democracy.

So what are the lessons for those dedicated to creating real democracy?

There are many, but the central one is the need to not only spend activist time, energy and resources focused on changing public officials, laws and regulations. We must also spend at least some time focusing time, energy and resources on changing or amending the many undemocratic elements of the U.S. Constitution.

How many more times will a corporation assert never-intended constitutional rights to avoid being accountable to the public and the planet before we act? How many more election cycles must we live through where the voices of huge numbers of individuals and key constituencies will not be politically heard before we act? How many more Presidents will be “elected” who receive fewer votes than their competitors before we act?

Imagine if a measly 1% of the $1.4 billion that was spent to elect Clinton was invested in a national effort to democratize the U.S. Constitution (addressing the items mentioned above and others)? That’s $14 million. Not a bad down payment for doing some democratic damage (as in positive change)!

Regarding the Electoral College, there is a short-term solution short of amending the Constitution. It’s passage in states of what’s called the National Popular Vote Interstate Compact (NPVIC). The idea is that states that pass this law agree to award all their electoral votes to the Presidential candidate who wins the popular vote nationwide, regardless of the vote in participating states.  Since it’s a law, what one legislature can pass, another in the future can repeal. It’s certainly better than what we have, but not as permanent as amending the Constitution to abolish the Electoral College altogether.

It’s time to take advantage of this outrageous, but also teachable and organizing moment to fundamental (re)create real democracy by democratizing our Constitution.

Giving limits for city candidates would more than triple since 2010 with new proposal

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By Doug Livingston / Beacon Journal staff writer
December 19, 2016
http://www.ohio.com/news/local/giving-limits-for-city-candidates-would-more-than-triple-since-2010-with-new-proposal-1.734533

The reporter didn’t quite get it right regarding what I said needs to happen — not just public financing, but ultimately a constitutional amendment to abolish corporate personhood and money as speech.

REAL Democracy History Calendar: December 19 – 25

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https://realdemocracyhistorycalendar.wordpress.com/2016/12/19/real-democracy-history-calendar-december-19-25/

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MONETARY HISTORY CALENDAR December 18-24

Greenbackk

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 – BIRTH OF JOHN TAYLOR OF CAROLINE, US SENATOR FROM 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.

DECEMBER 21

2012 – END OF THE MAYAN CALENDAR
The Mayans did not believe the end of their 5125-year calendar marked the end of the world, but rather the end of an old order. In its place would be people with a higher degree of awareness and consciousness.
Part of any such awareness and consciousness will surely include enlightenment and eventual replacement of unsustainable national monetary schemes of privatized/corporatized money creation with ones that are public and serves the interest of all, not simply the super wealthy or financial interests.

2014 – WINTER SOLSTICE
The darkest day 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 completely 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.

———————–

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
To see the calendar year-to-date, go to https://monetarycalendar.wordpress.com/