MONETARY HISTORY CALENDAR July 16 – 22

Greenbackk

JULY 16

1979 – FEDERAL RESERVE BANK OF SAN FRANCISCO AD FOR COMPUTER PROGRAMMERS IN “COMPUTERWORLD MAGAZINE”
“Some people still think we’re a branch of the Government. We’re not.”
[Note: You can’t get any clearer or more succinct than this!]

JULY 17

1862 – PASSAGE OF POSTAGE CURRENCY ACT
The act authorized the issuance of 5, 10, 25, and 50-cent notes – which were needed to substitute for gold, silver and copper coins, which were hoarded. This fractional currency US debt-free notes, sold in perforated sheets like stamps, were redeemable by the US Post Offices at face value in postage stamps until 1876.

JULY 18

BIRTH OF STEPHEN ZARLENGA, DIRECTOR, AMERICAN MONETARY INSTITUTE, AUTHOR OF “THE LOST SCIENCE OF MONEY”
“We propose that ultimately the monetary power should be constituted as a fourth branch of government, like the executive, judicial and legislative branches. We have concluded that the nature of man and society requires four, not three, branches of government.” “True monetary reform must take a better path. AMI’s research indicates that money, properly defined, is a legal institution of society and government; not a commodity or economic good of the markets; that if money is a legal institution, then the control of monetary systems can be rightfully viewed as a proper function of government; much as the law courts are.” “When society loses control over its money system, it loses any control it might have had over its destiny.”

JULY 19

1844 – PASSAGE OF BANK CHARTER ACT BY BRITISH PARLIAMENT
The Act curtailed and eventually ended the right of banks to issue banknotes. The right to issue paper money became the sole authority of the Bank of England. NOTE: They could still create money via lending (fractional reserve lending).

2013 – PUBLISHED ARTICLE, THE PUBLIC VS. PRIVATE DIALECTIC, OR: MONEY AS PART OF THE COMMONS” BY ANTHONY MIGCHELS
“Surely it’s a no-brainer to say that the Government at this stage must urgently retake the monopoly on currency from the Money Power. The US Government pays 450 billion per year in interest payments to international banks and other Governments to service its National Debt. With the BIS now openly calling for higher interest rates it will quickly get much worse. Government money allows for a reasonable financing of the State and is the very least monetary reform should aim for.

But to say something is better is not to say something is ideal. And Government money can be designed in good and bad ways. The good ways decentralize power, the bad ways centralize power…”

2015 – ARTICLE “THE FEDERAL RESERVE – WHICH CREATED QUANTITATIVE EASING – ADMITS QE DOESN’T WORK.”
Stephen Williamson, the Vice President of the Federal Reserve Bank of St Louis, writes in a new Fed white paper published on July 9 the following:
“There is no work, to my knowledge, that establishes a link from QE to the ultimate goals of the Fed inflation and real economic activity. Indeed, casual evidence suggests that QE has been ineffective in increasing inflation.
“Thus, the Fed’s forward guidance experiments after the Great Recession would seem to have done more to sow confusion than to clarify the Fed’s policy rule.”

JULY 20

1903 – DEATH OF POPE LEO XIII
“On the one hand there is the party which holds the power because it holds the wealth, which has in its grasp all labor and all trade, which manipulates for its own benefit and its own purposes all the sources of supply, and which is powerfully represented in the councils of State itself. On the other side there is the needy and powerless multitude, sore and suffering. Rapacious usury, which, although more than once condemned by the Church, is nevertheless under a different form but with the same guilt, still practiced by avaricious and grasping men…so that a small number of very rich men have been able to lay upon the masses of the poor a yoke little better than slavery itself.”
– Statement on usury, 1898

JULY 21

1788 – SPEECH AT THE PROCEEDINGS AND DEBATES OF THE CONVENTION OF NORTH CAROLINA (ON WHETHER TO RATIFY THE PROPOSED CONSTITUTION OF THE UNITED STATES)
“So low and hopeless are the finances of the United States, that, the year before last Congress was obliged to borrow money even, to pay the interest of the principal which we had borrowed before. This wretched resource of turning interest into principal, is the most humiliating and disgraceful measure that a nation could take, and approximates with rapidity to absolute ruin.”

1899 – BIRTH OF ERNEST HEMINGWAY, AUTHOR
“How did you go bankrupt?”
“Two ways. Gradually, then suddenly.”
From The Sun Also Rises
[The same may be true of our nation today.]

2011 – REPORT BY US SENATOR BERNIE SANDERS ON AUDIT OF THE US FEDERAL RESERVE
“The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. “As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world,” said Sanders. ‘This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.’ “
http://www.sanders.senate.gov/newsroom/press-releases/the-fed-audit

JULY 22

1950 – DEATH OF WILLIAM LYON MACKENZIE KING, 10TH PRIME MINISTER OF CANADA, 1935-48.
“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…. The Liberal Party believes that credit is a public matter, not of interest to bankers only, but of direct concern to every citizen. The Liberal Party declares itself in favor of the immediate establishment of a duly constituted national bank for the control of the issue of money in terms of public needs. The flow of money must be in relation with the domestic, social, and industrial needs of the Canadian people…If my party is returned to power, we shall make good our monetary policy in the greatest battle between the money power and the people Canada has ever seen.” Mackenzie King won re-election. The private Bank of Canada, which had been a private corporation, was converted to a “Crown Corporation,” belonging to the people of Canada.

2012 – PUBLISHED ARTICLE IN BLOOMBERG VIEW BY NEIL BAROVSKY, FORMER TROUBLED ASSETS RELIEF PROGRAM (TARP) INSPECTOR GENERAL
“Americans should lose faith in their government. They should deplore the captured politicians and regulators who distributed tax dollars to the banks without insisting that they be accountable. The American people should be revolted by a financial system that rewards failure and protects those who drove it to the point of collapse and will undoubtedly do so again.”
[The same captured politicians by the banking corporations prevents any serious monetary reform – and will no doubt continue until banking corporations and, in fact, all corporations no longer possess the inalienable first amendment constitutional “right to free speech” to lobby and donate/invest in elections]

2015 – TALK BY CONGRESSMAN JEB HENSARLING (R, TEXAS) ON THE FAILURE OF THE POST-FINANCIAL IMPLOSION DODD-FRANK “REFORM”
“The Dodd-Frank architecture, first of all, has made us less financially stable,” he said. “Since the passage of Dodd-Frank, the big banks are bigger and the small banks are fewer. But because Washington can control a handful of big established firms much easier than many small and zealous competitors, this is likely an intended consequence of the Act. Dodd-Frank concentrates greater assets in fewer institutions. It codifies into law ‘Too Big to Fail’ and taxpayer-funded bailouts.”
http://www.mpamag.com/news/on-its-fifth-anniversary-hensarling-slams-doddfrank-23302.aspx

———————–

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 monetarycalendar@yahoo.com
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/

 

 

 

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Three-quarters in US say they lack influence

800

It’s been getting worse and won’t ever change until we change (e.g. enlargen) our strategy and vision from feel-good nickel and dime “reforms” to structural cultural and constitutional changes — including abolishing corporate constitutional rights and the doctrine that money is protected free speech. @MovetoAmend

https://apnews.com/a3eac6255194410eb2ab2166f09cd429/AP-NORC-Poll:-Three-quarters-in-US-say-they-lack-influence?utm_campaign=SocialFlow&utm_source=Twitter&utm_medium=AP_Interactive

The Deep Industry Ties of Trump’s Deregulation Teams

More capturing of government by corporate interests. It happened before under Repub and Dem administrations, but more intense and blatant under the “drain the swamp” advocate in the White House. And it will continue forever and ever and ever until we abolish the constitutional ground rules empowering corporate entities with constitutional rights…

“Some appointees are reviewing rules their previous employers sought to weaken or kill, and at least two may be positioned to profit if certain regulations are undone.

The appointees include lawyers who have represented businesses in cases against government regulators, staff members of political dark money groups, employees of industry-funded organizations opposed to environmental rules and at least three people who were registered to lobby the agencies they now work for.”

REAL Democracy History Calendar: July 10 – 16

realdem

https://realdemocracyhistorycalendar.wordpress.com/2017/07/10/real-democracy-history-calendar-july-10-16/

Subscribe to the REAL Democracy History Calendar, https://realdemocracyhistorycalendar.wordpress.com/about/

#TheDemocracyCalendar #EndCorporateRule #CorporateRule #GetMoneyOut #Democracy #WeThePeopleAmendment #MovetoAmend

MONETARY HISTORY CALENDAR July 9 – 15

 

grnback

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 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.

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.

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.”

JULY 13

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
http://www.washingtonsblog.com/2013/07/everyone-knows-that-the-federal-reserve-banks-are-private-except-the-american-people.html

JULY 14

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.”

JULY 15

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 monetarycalendar@yahoo.com
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/

 

How privatization could spell the end of democracy

Those who’ve battled against corporatization (“privatization” is too sanitized) know this. The threat just isn’t economic, but political — the inability to the right to decide. This results inevitably in unaccountable, irresponsible and reckless actions benefiting the few (corporations and their investors) at the expense of the many. Public assets should be public. Period.

https://www.theguardian.com/technology/2017/jun/21/privatizing-public-services-trump-democracy?CMP=fb_gu