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.”
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.”
1862 – LEGISLATIVE ACT AUTHORIZING 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 QUANTITATIVE 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.
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.
2012 – GREEN PARTY USA CALLS FOR MONETARY REFORM IN PARTY PLATFORM
Green Party Platform:
“Democratize Monetary Policy and the Federal Reserve System: Place a 100% reserve requirement on demand deposits in order to return control of monetary policy from private bankers to elected government. Selection of Federal Reserve officers by our elected representatives, not private bankers. Strengthen the regional development mission of the regional Federal Reserve Banks by directing them to target investments to promote key policy objectives, such as high-wage employment, worker and community ownership, ecological production, and inner city reconstruction.”
1832 – CONGRESS FAILS TO OVERRIDE PRESIDENT JACKSON’S VETO TO RENEW THE CHARTER OF THE SECOND NATIONAL BANK OF THE UNITED STATES
In his veto message to renew the misnamed “national bank” (it was actually a private bank controlled/owned by stockholders, a majority of whom were foreigners), Jackson stated: “Controlling our currency, receiving our public monies, and holding thousands of our citizens in dependence…would be more formidable and dangerous than a naval and military power of the enemy.”
1956 – QUOTE OF J.R.R TOLKIEN, AUTHOR (THE HOBBIT AND LORD OF THE RINGS) AND UNIVERSITY OF OXFORD PROFESSOR, IN CONDOUR MAGAZINE
“The main mark of modern governments is that we do not know who governs, de facto any more than de jure. We see the politician and not his backer; still less the backer of the backer; or what is most important of all, the banker of the backer. Enthroned above all, in a manner without parallel in all past, is the veiled prophet of finance, swaying all men living by a sort of magic, and delivering oracles in a language not understood of the people.”
2013 – PUBLICATION OF ARTICLE, “EVERYONE KNOWS THAT THE FEDERAL RESERVE BANKS ARE PRIVATE…EXCEPT THE AMERICAN PEOPLE”
Most Americans Still Don’t Know that Federal Reserve Banks Are Private Corporations
1833 – DEATH OF WILLIAM M. GOUGE, ADVISOR TO PRESIDENT ANDREW JACKSON, EDITOR OF THE PHILADELPHIA GAZETTE, PUBLISHER OF THE “HISTORY OF THE AMERICAN BANKING SYSTEM” AND A “FISCAL HISTORY OF TEXAS”
“The large extent of bank influence is not easily seen. We seldom see an identified bank or a money corporation candidate running for office; but when questions arise which affect them, the banks have agents at work, whose operations are the more effective because they are unseen.”
2012 – PUBLICATION OF ARTILE, “ASSET HOLES: US ‘LEADERSHIP IN MONEY, CREDIT, CAFR SURPLUS TRILLIONS” BY CARL HERMAN
“The great news is that economic solutions are obvious:
Monetary reform: the US doesn’t have a money supply, but its Orwellian opposite of a ‘debt supply.’ Banks and the Fed create what we use for money as debts, then charge the 99% interest for its use. Monetary reform has government transparency (yes, unimaginable without total Occupy victory) to create debt-free money for direct payment of public goods and services. This has game-changing triple benefits of full-employment as government becomes the employer of last resort, optimal infrastructure, and falling prices because infrastructure contribute more to productivity than cost.”
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 the original 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. It is currently updated by Greg Coleridge. Please forward this to others and encourage them to subscribe. To subscribe/unsubscribe or to comment on any entry, email firstname.lastname@example.org
To see the calendar year-to-date, go to https://monetarycalendar.wordpress.com/
A second historical calendar, the REAL Democracy History Calendar, in many ways complements this calendar. For information, go to https://realdemocracyhistorycalendar.wordpress.com/about/