REAL Democracy History Calendar: January 14 – 20

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https://realdemocracyhistorycalendar.wordpress.com/2019/01/14/real-democracy-history-calendar-january-14-20/

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REAL Democracy History Calendar: January 7 – 13

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https://realdemocracyhistorycalendar.wordpress.com/2019/01/07/real-democracy-history-calendar-january-7-13/

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Monetary History Calendar: January 6 – 12

images

Happy New Year!

Sad to say but it looks like 2019 will be the year that a significant economic recession takes root. It could very well be long and deep — affecting nearly every person in this country and tens of millions of people (if not more) in other nations — especially those who live in the “developing world.” Perpetual growth on a finite planet, massive tax cuts to the rich which widens inequality and the Federal Reserve handing over cheap money to corporate American to buy back its own stock to jack up its prices and values are simply unsustainable. The financial chickens will come home to roost.

In such an environment, you can expect many economic, financial and monetary quacks, scammers and pundits (many simply mouthpieces of the 1%, banksters and power elites) to loudly assert to “stay the course,” “kick the can down the road awhile longer” and “do more of the same, just more of it.”

Its times like these that becoming monetarily literate is just not an option, but mandatory. How our money is created, who creates it, for what purposes is it distributed, and how we can avoid financial debt and ruin by no ending the practice of banks creating money out of thin air as debt are not simply theoretical questions, but have profound democratic, political, economic, social and ecological implications that affects our everyday lives…and what’s left of our ecosystem. If you have several resolutions for 2019, please consider adding “becoming monetary literate” to it.

That’s what this calendar is all about. I’ve added many new entries collected over the last year (including one found just this morning for today!) and retained those that I believe shed clear light on how we can and must “democratize money creation and distribution” as a means to save ourselves, our communities and a livable earth.

If you appreciate reading this Calendar, its goals and the bit of effort to develop and update it, please consider making one or both of the following contributions:
• Financial: Checks and money orders can be made out to “Create Real Democracy” and sent to 3016 Somerton Road, Cleveland Heights, Ohio 44118. Contributions are tax deductible.
• Time: Forward the calendar to others you know that might be interested – and encouraging them to sign up. It’s free!

Thank you!

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JANUARY 6

2016 – POSTED ARTICLE, “MONEY CREATION AND INEQUALITY – AN UNDEREXPOSED TOPIC FOR MONETARY REFORMERS”
“Even though the current money systems effect on rising inequality is neglected in public debate so far, it can hardly be questioned that banks power to create deposit money has a huge impact on the distribution of power and wealth and amplifies inequality through various direct and indirect mechanisms. In comparison, a sovereign money reform could mend many of these negative distributive effects and would provide the chance to redistribute much more fairly.”
https://internationalmoneyreform.org/news/2018/01/money-creation-inequality-underexposed-topic-monetary-reformers/?fbclid=IwAR18P5al4Yd8Ty2mXCkdqRr8oOyPOBlUMLBVtzR_GQno6vALPXYxguznbxI

2016 – PUBLISHED ARTICLE, “IS THE WHOLE THEORY OF SECULAR STAGNATION A HOAX?”
“Money and debt contracts are social conventions. They can be torn up, or reinvented. When we go into the next global downturn – perhaps in 2017 – we may have to resort to an entirely different form of QE. The next step is to print money to fund state spending directly, and probably behind capital constraints in a less “globalized” world.”
http://www.telegraph.co.uk/finance/economics/12083682/Is-the-whole-theory-of-secular-stagnation-a-hoax.html
[Note: Actually, an entirely different option is available not when the next global economic downturn occurs — perhaps in 2018. Instead of borrowing money created by central banks in the form of “Quantitative Easing” (QE), nation-states can create their own debt-free money. In the US, that’s authorized by Article I, Sec 8 of the U.S. Constitution.]

JANUARY 7

1782 – BANK OF NORTH AMERICA OPENS
This was the first private commercial bank of the United States. At that time, the nation’s constitution was the Articles of Confederation. Article 9 of the Articles gave Congress the power to “emit bills of credit” — to create debt-free money. By a single vote, Congress voted to transfer their authority to issue money to the Bank of North America when it approved its charter. Thus, the Bank served as a quasi central bank (which created money as loans, called “debt money”). Why did Congress willingly give up their money power? The public argument was that the business of finance could not be competently 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.

1868 – SPEECH OF CONGRESSMAN SAMUEL FENTON CARY (INDEPENDENT REPUBLICAN) OF OHIO ON FLOOR OF HOUSE OF REPRESENTATIVES
“Our Constitution gives to Congress the exclusive power to coin money and regulate the value thereof… These are attributes of sovereignty and belong exclusively to the representatives of the whole people…The value of money has no relation to or dependence upon the material of which it is made. If it has the properties or powers of representing, measuring, and exchanging value, it is money; and these properties or powers are not inherent in any substance, but are conferred upon any chosen material by the sovereign power…. The Greenback, as it has been denominated, was an invaluable expedient, backing our boys in blue and covering their backs at the same time. It served our purpose well and will serve us still if permitted. It helped us through one danger and will bear us triumphantly through another unless the cupidity of bankers, bondholders and shoddy contractors shall triumph over the industrial and tax-paying classes of our people…The first step in the right direction will be to pass a law to call in and cancel the entire bank circulation and simultaneously issue an equal quantity of Treasury certificates or legal tenders.”
http://www.yamaguchy.com/library/uregina/cary68.html

JANUARY 8

1786 – BIRTH OF NICHOLAS BIDDLE, PRESIDENT OF SECOND NATIONAL BANK
Biddle threatened to cause a depression if President Andrew Jackson did not re-charter the bank. The privately owned Second Bank was chartered in 1816. President Jackson did not sign the bill to renew the charter. “This worthy President thinks that … he is to have his way with the Bank. He is mistaken…[opposition] can only be broken by the actual conviction of exiting distress in the community… Our only safety is in pursuing a steady course of firm restriction [of the money supply] – and I have no doubt that such a course will ultimately lead to restoration of the currency and the re-charter of the Bank.” The result of the contraction of the money supply was a financial panic followed by a deep depression in 1837. (Edward Kaplan, The Bank of the United States and the American Economy)

1835 – PRESIDENT JACKSON PAYS OFF THE LAST INSTALLMENT OF THE NATIONAL DEBT
He was one of the only Presidents ever to do so (with Congressional support) – following his decision, which was ultimately upheld by Congress, not to renew the charter of the private Second Bank of the United States.

JANUARY 9

2009 – TREASURY DEPARTMENT CPP TRANSACTION REPORT
The U.S. Treasury Department purchases a total of $4.8 billion in preferred stock from 43 U.S. banks under the Capital Purchase Program — one of several bank bailout programs of the US government.

JANUARY 10

1843 – BIRTH OF LORD ACTON, ENGLISH HISTORIAN, POLITICIAN, AND WRITER
“The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.“

1933 – BIRTH OF ROBERT POTEAT, RESEARCHER, AMERICAN MONETARY INSTITUTE
“Legislation has been introduced to relieve the nation of the abusive bank credit/debt system. It is the National Emergency Employment Defense Act, NEED Act. This Act will end the power of banks to create credit out of nothing by making bookkeeping entries. It will the restore the money power to Congress as provided by the United States Constitution, Article I, Section 8. Without the power to create credit banks will not have the power to create bubbles and recessions. Congress will create the money debt and interest free for human services and infrastructure.
“Congress will have the means to not only end the exponential growth of national debt; but, also, pay off the national debt as it comes due. Congress will have the means to fund needed human life supporting programs and infrastructure without borrowing money.”

2008 – QUOTES BY BEN BERNANKE, FORMER CHAIR OF THE US FEDERAL RESERVE (THE PRIVATE CENTRAL BANK OF THE US), ON THE US ECONOMY
(January 10, 2008) “The Federal Reserve is not currently forecasting a recession.”
(January 18, 2008) “[The U.S. economy] has a strong labor force, excellent productivity and technology, and a deep and liquid financial market that is in the process of repairing itself.”
The Great Recession was dated as beginning in December 2007. An estimated 8.7 million jobs were lost from February 2008 – February 2010, according to the US Labor Department. GDP contracted by 5.1% during the same period, making the Great Recession the worst since the Great Depression. Unemployment rose from 4.7% in November 2007 to peak at 10% in October of 2009.

JANUARY 11

1757 – BIRTH OF ALEXANDER HAMILTON, FIRST SECRETARY OF THE TREASURY OF THE UNITED STATES
Hamilton was a major proponent of First Bank of the United States. The bank’s name gave the impression that the bank was public when it was actually privately owned. The private bank created the nation’s money as government loans – at interest – and to private individuals. Eighty percent of the stock was privately held. Hamilton considered public debt “a public blessing” because 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 pay off the government bonds.

1893 – DEATH OF BENJAMIN F. BUTLER, US GENERAL, US REPRESENTATIVE (MASSACHUSETTS) AND GOVERNOR OF MASSACHUSETTS
“The government shall issue an amount equal to its taxes…which shall be lawful money and legal tender for all debts, public and private, which by law are not made payable in coin.”

JANUARY 12

1936 – DEATH OF JOHN HYLAN, MAYOR OF NEW YORK CITY, 1918-1925
“The real menace of our republic is this invisible government, which, like a giant octopus, sprawls its slimy length over city, state and nation. Like the octopus of real life, it operates under cover of a self created screen….At the head of this octopus are the Rockefeller Standard Oil interests and a small group of powerful banking houses generally referred to as international bankers. The little coterie of powerful international bankers virtually run the United States government for their own selfish purposes. They practically control both political parties.”

2006 – “MONETARY MYOPIA” ARTICLE IN ECONOMIST MAGAZINE ON ALAN GREENSPAN ON HIS RETIREMENT AS HEAD OF THE US FEDERAL RESERVE
‘”In December Mr. Greenspan was made a Freeman of the City of London. One of the traditional perks of this honor is that he can be drunk and disorderly without fear of arrest. The snag is that his policies have also encouraged drunk and disorderly asset markets and intoxicated consumers. When the party ends, Mr. Greenspan will not be there to clean up the mess. But end it surely will.”

And it surely has.

———————–

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/

REAL Democracy History Calendar: December 31 – January 6

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https://realdemocracyhistorycalendar.wordpress.com/2018/12/31/real-democracy-history-calendar-december-31-january-6/

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

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MONETARY HISTORY CALENDAR: December 30 – January 5

Greenbackk

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 having handed over to banking corporations the license to issue money when they make loans. This creates money as debt, which must be repaid with interest. The alternative is the US government creating the money it needs interest-free and debt-free as stipulated in the United States Constitution, Article 1, Section 8.

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.

JANUARY 1

1817 – SECOND NATIONAL BANK OF THE US OPENS 
This was the third quasi national bank of the former British colonies — following the Bank of North America (1781-1785, charterd by the Continental Congress) and Bank of the United States (1791-1811, chartered by the US Congress). While called a “national” bank, it was not public but actually a commercial/corporate bank with the power to issue money directly (just like its two predecessors). It issued initially 20 times more money than it had in reserve its reserves as loans. This led to financial speculation and large corporate profits. A year later, it stopped issuing loans, resulting in a severe contraction of the money supply — which led to massive bankruptcies and the Panic of 1819. President Andrew Jackson believed the bank was a threat to the nation. He vetoed a bill in 1832 renewing the bank’s charter (license).

1879 – DATE TO REDEEM GREENBACKS FOR GOLD
Forces in opposition to public money passed the Resumption Act in 1875. It established January 1, 1879 as the date anyone could redeem federal Greenbacks for gold. Greenbacks were debt free money created by the Lincoln administration in his effort to avoid borrowing money from banks and having to pay interest. Why not simply create the money as stipulated in the Constitution (Art 1, Sec 8 giving the government the authority to coin money)? Bankers hoped most Greenbacks would be turned in – so that they could once more exclusively control the issuance and circulation of paper money – at enormous profit. Doomsayers predicted as Greenbacks were redeemed for gold, the nation would go bankrupt. Neither occurred. Only $135,000 in Greenbacks was exchanged for gold – nationwide. Meanwhile, $400,000 gold was exchanged for Greenbacks. The New York Daily Tribune called the day, “the grandest page in the history of the United States.”

1911 – US POSTAL SAVINGS SYSTEM OPENS
The Postal Savings System was established to provide basic banking services to the common working person. Often located in places that had no commercial banks, postal banks offered basic savings accounts to depositors, but no loans. When banks failed after the Great Depression, many people shifted their remaining funds. With post officers serving as bank branches, the Postal Savings System held upwards of 20% of the nation’s savings in the mid 1940’s with over 4 million depositors. Commercial/corporate banks lobbied against their expansion and for their elimination — which occurred in 1967.

JANUARY 2

1909 – BIRTH OF BARRY GOLDWATER, FORMER REPUBLICAN SENATOR FROM ARIZONA
“The Trilateralist Commission is international…(and)…is intended to be the vehicle for multinational consolidation of commercial and banking interests by seizing control of the political government of the U.S. The Trilateralist Commission represents a skillful, coordinated effort to seize control and consolidate the four centers of power-political, monetary, intellectual and ecclesiastical.”

JANUARY 3

1928 – UNITED STATES SHIPPING BOARD EMERGENCY FLEET CORPORATION v. WESTERN UNION TELEGRAPH CO. [275 U.S. 415]
The U.S. Supreme Court stated the following in this decision regarding federal reserve banks: “Instrumentalities like the national banks or the federal reserve banks, in which there are private interests, are not departments of the government. They are private corporations in which the government has an interest.”

1977 – DEATH OF CARROLL QUIGLEY, PROFESSOR AND HISTORIAN
“The influence of financial capitalism and of the international bankers who created it was exercised both on business and on governments, but could have done neither if it had not been able to persuade both these to accept two ‘axioms’ of its own ideology…by basing the value of money on gold and by allowing bankers to control the supply of money. To do this it was necessary to conceal, or even mislead, both governments and people about the nature of money and its methods of operation.” (From his book, Tragedy and Hope)

JANUARY 4

1643 – BIRTH OF SIR. ISAAC NEWTON, ENGLISH PHYSICIST AND MATHEMATICAN – FORMULATED UNIVERSAL LAW OF GRAVITATION
Governments have transferred their authority to create money to private financial institutions (including central banks) that have used this power to create money out of thin air as debt when they issue loans. Debt is like financial gravity in weighing down governments (which must repay the principle plus interest), citizens (who must pay more in taxes to cover interest payments) and the economy in general (via transfers of money from investing in producing real goods and services to the financial sector that produces nothing). The larger or heavier the debt, the less ability ultimately of governments, citizens and the economy to move and act freely.

JANUARY 5
1066 – DEATH OF KING EDWARD THE CONFESSOR 
Calling usury (interest) the root of evil, the English King declared all those who charged usury outlaws and banished them from the country.

2015 – INTERVIEW OF RICHARD FISHER, FORMER PRESIDENT & CEO OF THE FEDERAL RESERVE BANK OF DALLAS
“The Federal Reserve is a giant weapon that has no ammunition left…
“You have to be careful here and frank about what drove the markets…. It was, the Fed, the Fed, the Fed, the European Central Bank, the Japanese Central bank … all quantitatively driven by central bank activity. That’s not the way markets should be working…. They were juiced up by central banks, including the Federal Reserve…. So, I think you have to acknowledge reality.”

———————–

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/

REAL Democracy History Calendar: December 24 – 30

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https://realdemocracyhistorycalendar.wordpress.com/2018/12/24/real-democracy-history-calendar-december-24-30/

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

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