The Pushback Against Ending Corporate Rule

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https://www.opednews.com/articles/2/The-Pushback-Against-Endin-by-Greg-Coleridge-Change_Corporate-Constitutional-Rights_Corporate-Courts_Corporate-Personhood-180604-680.html

 

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REAL Democracy History Calendar: June 4 – 10

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https://realdemocracyhistorycalendar.wordpress.com/2018/06/04/real-democracy-history-calendar-june-4-10/

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

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

MONETARY HISTORY CALENDAR: June 3 – 9

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JUNE 3

1864 – PASSAGE OF NATIONAL BANK ACT
The Act superseded the National Bank Act of 1863. Both Acts were pushed by bankers and their supporters to undercut Greenbacks. A system of nationally chartered, private/corporate banks was established and expanded. These new national banks were provided with virtually tax-free status and subsidized through purchasing of government bonds with discounted Greenbacks. These banks were permitted to then create “US Bank Notes” (debt-based money) which entered the money supply – to be used in payment of taxes and duties only. This system enriched banks and worked to wean the US away from Greenbacks (debt free money). The Act limited the issuance of Greenbacks to $300 million

JUNE 4

1910 – BIRTH OF ROBERT B. ANDERSON, SECRETARY OF THE TREASURY UNDER PRESIDENT DWIGHT D. EISENHOWER
“When a bank makes a loan it simply adds to the borrowers’ deposit account in the bank by the amount of the loan. The money is not taken from anyone else’s deposit; it was not previously paid in to the bank by anyone. It’s new money, created by the bank for the use of the borrower.”

JUNE 5

1883 – BIRTH OF JOHN MAYNARD KEYNES, ECONOMIST
“Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some…As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.

“Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

2013 – STATEMENT BY POPE FRANCIS
“Man is not in charge today, money is in charge, money rules. God our Father did not give the task of caring for the earth to money, but to us, to men and women: we have this task! Instead, men and women are sacrificed to the idols of profit and consumption: it is the “culture of waste.”

JUNE 6

1934 – CHICAGO PLAN INTRODUCED IN THE US CONGRESS
The “Chicago Plan” was a proposal developed by several prominent economists directed at President Roosevelt to end the Great Depression. One hundred and fifty academic economists signed the Plan; another 40 approved it with reservations. Main features: 1. Only the government would create money. 2. The Plan separated the loan-making function, which can belong in private banks, from the money-creation function, which belongs in government. 3. The proposal recognized the distinction between money and credit. Senator Bronson Cutting (R, NM) introduced The Plan in Congress (S. 3744). In several respects, it was the precursor to the National Emergency Employment Act (HR 6550) introduced by Rep. Dennis Kucinich in 2010, and reintroduced as HR 2990 in 2011.

JUNE 7

2013 – PUBLISHED ARTICLE, “THE WAY MONEY IS CREATED IS AT THE ROOT OF THE ENVIRONMENTAL AND ECONOMIC CRISIS” BY BRUCE NIXON
“Do you know how our money is created? Most people don’t…
“97% of our money is created by commercial banks when they make loans, i.e. interest bearing debt…Only 3% is created in the form of notes and coins. Thus the profits of creating money go to the commercial banks rather than the public coffers…
“The current way of creating money gives the big banks enormous power…It means that the commercial banks, not our government, control one of the key levers of our economy. So it is one of the ways we let big banks subvert democracy…
“The way money is created is at the root of the environmental and economic crisis.
“Firstly, it drives unsustainable growth and consumption. Corporations must produce and sell more to pay interest and repay loans. Easy credit encourages more and more unsustainable consumption.
“Secondly, this way of creating money increases the cost of everything and fuels the nation’s escalating debt…
“We are encouraged to worship great god growth (GDP) rather than the creation of wellbeing.
“Meanwhile millions of people suffer unemployment and needless austerity through so-called “Neo-Liberal” policies, which have never worked…
“It does not have to be this way…
“There is a growing realization that fresh ideas are needed if these crises are to be avoided…
“Under proposed monetary reforms, commercial banks would be prohibited from creating money. That would be the sole responsibility of national reserve banks: to provide the money supply required for national objectives, decided by democratically elected government. Meanwhile, commercial banks would continue to fulfill their proper role of providing both the traditional bank services that individuals and businesses require and investment services…
“Ordinary people, so-called, know that something is wrong; it’s up to us to inform ourselves and demand radical reform. Otherwise governments will continue with fixes that won’t work rather than the radical change that is needed.”

JUNE 8

1042 – REIGN OF KING EDWARD OF ENGLAND BEGINS
Taking any interest on loaned money was considered a sin in early England. Under King Edward’s reign, those who charged interest (usurers) were declared outlaws and banished from the country.

1809 – DEATH OF THOMAS PAINE, COLONIAL REVOLUTIONARY
Commenting on the value of colonial-issued money, the “Continental”…
”Every stone in the Bridge, that has carried us over seems to have a claim upon our esteem. But this was a corner stone, and its usefulness cannot be forgotten.”

1845 – DEATH OF ANDREW JACKSON, PRESIDENT OF THE UNITED STATES
“The bold effort the present (central) bank had made to control the government … are but premonitions of the fate that await the American people, should they be deluded into a perpetuation of this institution or the establishment of another like it.”
“If Congress has the right under the Constitution to issue paper money, it was given to be used by themselves, not to be delegated to individuals or corporations.”

JUNE 9

2014 – PUBLICATION OF REPORT “WHO PAYS FOR BANK REGULATION” BY GOLDMAN SACHS CORPORATION
“In the wake of the financial crisis, a wide range of new and revised rules, regulations and practices have been imposed on the US banking industry. While many of these steps are designed to strengthen the safety and soundness of the banking system, they also act as a tax on banks: by changing relative prices, regulation makes some activities more expensive and others cheaper…While there is some added subtlety to the results of our analysis, we find in general that low-income consumers and small businesses – which generally have fewer or less effective alternatives to bank credit – have paid the largest price for increased bank regulation.”

How thoughtful of Goldman Sachs corporate leadership to be concerned about the plight of low-income consumers and small businesses in banking reform. One wonders if the corporation, which Rolling Stone’s Matt Taibbi called the “great vampire squid” for its ability to suck money instead of blood, had similar sympathies when it received $12.9 billion in bailout money related to AIG, or an additional $10 billion in federal TARP bailout funds (which shortly afterwards in the later case they decided to pay 953 employees bonuses of at least $1 million) — all of which served to increase its own economic solvency and political power. Goldman Sachs’ political power is demonstrated by its $5.8 million in political contributions/investments and $3.2 million in lobbying during the 2016 election cycle — funds used to water down or gut existing financial regulations. It’s this political influence, and the influence of other financial corporations, that also makes it nearly impossible to promote real monetary reform in Congress.

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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: May 28 – June 3

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https://realdemocracyhistorycalendar.wordpress.com/2018/05/28/real-democracy-history-calendar-may-28-june-3/

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

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

MONETARY HISTORY CALENDAR: May 27 – June 2

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MAY 27

1923 – BIRTH OF HENRY KISSINGER, 56TH US SECRETARY OF STATE
“If you control the oil, you control entire nations; if you control the food, you control the people; if you control the money, you control the entire world.”

MAY 28

1836 – STATEMENT BY JOHN C. CALHOUN, FORMER US VICE-PRESIDENT
“A power has risen up in the government greater than the people themselves, consisting of many and various powerful interests, combined in one mass, and held together by the cohesive power of the vast surplus in banks.”

2014 – STANLEY FISCHER BEGINS TERM AS A MEMBER OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. A MONTH LATER, HE BECAME VICE CHAIR
“I thought that when Dodd-Frank [proposed bank reform legislation] started, that the banks would not succeed in influencing it, having lost all the prestige they lost…Boy, was I wrong.”

MAY 29

1998 – DEATH OF BARRY GOLDWATER, REPUBLICAN SENATOR FROM ARIZONA
“The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money.”

2015 – “BANKS ARE NOT INTERMEDIARIES OF LOANABLE FUNDS — AND WHY THIS MATTERS” PUBISHED BY ZOLTAN JAKAB AND MICHAEL KUMHOF, BANK OF ENGLAND WORKING PAPER #529
“The quantity of [bank] reserves is a consequence, not a cause, of lending and money creation…in the real world, there are no pre-existing loanable funds…Instead, banks create new funds in the act of lending…there is no deposit multiplier mechanism that imposes quantitatyive constrains on banks’ ability to create money in this fashion. The main constraint is banks’ expectations concerning their profitability and solvency.”

MAY 30

1896 – DEATH OF MARK “BRICK” POMEROY, NEWSPAPER PUBLISHER, CURRENCY REFORMER AND ORGANIZER OF “GREENBACK CLUBS”
At the national Greenback Party convention in 1876, Pomeroy was named chairman of a committee to coordinate the activities of local Greenback clubs across the country. The clubs served as forums for monetary education and mobilization on behalf of the Greenback Party. During his leadership, Pomeroy claimed almost 6000 clubs had been chartered: the most in Missouri, followed by Illinois. Michigan, Iowa, Pennsylvania, Texas and New York followed in number of clubs.

1908 – ALDRICH-VREELAND ACT SIGNED BY PRESIDENT THEODORE ROOSEVELT
The Act established the National Monetary Commission recommending the Federal Reserve Act of 1913, creating the Federal Reserve System, the current private central bank (actually 12 banks to give the appearance of decentralization of economic power and control) of the US. The Aldrich-Vreeland Act was passed in response to the economic Panic of 1907 of bank failures. JP Morgan and other bankers who had been the target of Roosevelt’s trust busting efforts through more aggressive enforcement of the Sherman Anti-Trust Act manufactured the Panic. Through manipulating the stock market, calling in loans and not granting new ones, Morgan severely contracted the nation’s money supply. Thousands of banks were overextended. An economic crash followed. The Panic of ’07 was the pretext used to end the nation’s system of decentralized private banking by creating a system of centralized private banking – the Federal Reserve System.

MAY 31

1857 – BIRTH OF POPE PIUS XI
“For what will it profit men that a more prudent distribution and use of riches make it possible for them to gain even the whole world, if thereby they suffer the loss of their own souls?  What will it profit to teach them sound principles in economics, if they permit themselves to be so swept away by selfishness, by unbridled and sordid greed, that, ‘hearing the Commandments of the Lord, they do all things contrary.”

JUNE 1

1938 – BIRTH OF HERMAN DALY, ECONOMIST, AUTHOR OF “STEADY STATE ECONOMICS”
“If our present banking system, in addition to fraudulent and corrupt, also seems “screwy” to you, it should. Why should money, a public utility (serving the public as medium of exchange, store of value, and unit of account), be largely the by-product of private lending and borrowing?…Why should the public pay interest to the private banking sector to provide a medium of exchange that the government can provide at little or no cost? Why should seigniorage (profit to the issuer of fiat money) go largely to the private sector rather than entirely to the government (the commonwealth)?
“Is there not a better away? Yes, there is. We need not go back to the gold standard. Keep fiat money, but move from fractional reserve banking to a system of 100% reserve requirement…Banks would no longer be able to live the alchemist’s dream by creating money out of nothing and lending it at interest.”
From “Nationalize Money, Not Banks”

JUNE 2

1995 – PAPERBACK PUBLICATION OF “THE CHICAGO PLAN & NEW DEAL BANKING REFORM” BY RONNIE PHILLIPS
This work presents a comprehensive history and evaluation of the role of the 100 percent reserve plan in the banking legislation of the New Deal reform era from its inception in 1933 to its re-emergence in the current financial reform debate in the US.

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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/

It’s Up To Us To End The Corporate Monarchy

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https://movetoamend.org/its-us-end-corporate-monarchy

The fascination of the 29 million people in the United States who watched the British Royal Wedding over the weekend transcended the pageantry of the event and star power of the celebrity guests. In part, the interest was also due to trying to understand the current role of the monarchy in British society.

British Kings and Queens no longer possess unlimited authority. Dictating and defining virtually every action within the far-reaching British Empire is history —  British royalty today are mere figureheads, soap opera-like curiosities to many to distract attention from the day-to-day problems of life.

While people in the US are no longer “subjects” to British Kings and Queens following the colonial revolution, it would be a mistake to conclude We the People have authentically assumed ultimate or “sovereign” power to self-rule.

It’s never been true and much less true today as corporations, which at one time possessed only those powers and privileges granted by We the People through corporate charters, have fought in the courts to win constitutional rights.

Corporations increasingly act like monarchs.

These never-intended rights have allowed corporations to capture our government and elected officials. The continual and far-reaching wedding of corporations and politicians takes many forms — most of which don’t make television and aren’t of the feel-good, Camelot variety. Their nuptial offspring have been laws that harm people, communities and the planet — adversely affecting health care, education, jobs, housing, trade, budgets, food, transportation, energy, the environment, taxes, finance, and more.

If We the People are to be real rulers, then we have to end corporate rule.

Move to Amend is the only organization that not only takes on the undemocratic, unjust and unsustainable role of corporate personhood, we do something about it — specifically working for a constitutional amendment to abolish corporate constitutional rights.

That’s what our We the People Amendment with its 56 co-sponsors in the House of Represenatives, and hundreds of nationwide resolutions and ballot initiatives, and hundreds of other organizational endorsements are all about.

We seek to end corporate monarchy.

To be legitimately politically independent beyond the reach of corporations, government or big foundations, Move to Amend must be economically independent. We must rely for the vast majority of our funding from people like you — dedicated to ending corporate rule and creating authentic democracy. 

Support Move to Amend. We are still $80,000 short, and we need everyone to pitch in — now! Even better than a one time donation is a pledge to invest in the movement to amend by making your donation monthly.

Royal weddings may be fascinating. But it will take many more than the 100,000 people in the streets who gawked at the royal union to royally volunteer your time, energy and resources to divorce corporations from government and governance.

That’s a disunion worth not only watching, but being a part of! Join us!

Thank you,
Greg Coleridge
Outreach Director, Move to Amend