manufactured prosperity - money

8/14/2019 Manufactured Prosperity - Money

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Manufactured Prosperity

What is Money?

As important as money is to most people, most of us take for granted

this valuable resource without giving thought to what it really is,where it comes from, or how it works. We earn it, we spend it, wesave it, and some may complain they don't have enough of it, but fewreally know much about it. For most people, money, finances,monetary policy, etc. are pretty confusing and as a result they figureleaving the subject to others.

Many assume the bills stuffed in their wallet is money. But, is it?

Throughout history, money has taken on many forms and there hasn'tbeen much agreement on what "object" money is. It really is nothing

more than a symbol that represents the value of something. For thoseof us who use the Bible as our foundation, it's interesting to note thatthroughout Scripture silver and money are pretty much synonymous. The Hebrew term thatmeans "silver" is found 403 times in the Old Testament, and depending upon the context, theKJV translators translated it into either silver or money 399 times. In essence, silver andmoney were the same idea, the same concept, the same thing, as it were.

Whatever form it takes, it is used as an intermediary for trade - or medium of exchange, inorder to avoid the inefficiencies of a barter system.

Money is generally considered to have the following four characteristics: (1) a medium, (2) ameasure, (3) a standard, and (4) a store. That is, money functions as a medium of exchange, aunit of account, a standard of payment, and a store of value.

The Bible tells us, "My people are destroyed from lack of knowledge." (Hosea 4:6). Havingknowledge combined with wisdom, on the other hand, can empower you with tools forsurvival and provide you greater prosperity. This is why knowledge about the true nature ofmoney has been withheld from you. Not only are you ultimately destroyed from lack ofknowledge but you are also manipulated by those who do have the knowledge and control ofmoney.

Hopefully, by the time you finish reading this article, you will have more knowledge aboutmoney and begin to experience more of the benefits it can bring. Particularly, this article isgoing to explore the devolution of our Biblical form of money in America as established inthe U.S. Constitution, how it has lost most of the above characteristics, how it is presently

being used to destroy us as a people, and what we can do to restore it.

Types of Money

Money is a broad term that has come to refer to any financial instrument that can fulfill theabove four functions of money. Money can further be described among different types of

monetary aggregates, using a categorization system that focuses on the liquidity of thefinancial instrument used as money.


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A commodity money is a medium of exchange the units of which are fixed amounts of anactual commodity that has value other than as money alone. Many items have been used ascommodity money such as conch shells, barley, beads etc., as well as many other thingsthat are thought of as having value. Historically, silver and gold coins of known, standardweights and designs have emerged as the preferred commodity monies of the entirecivilized world. Gold and silver have been used as money throughout most of recorded

history, even as far back as Abraham [Genesis 23:12-16]. In the case of a commodity money,the actual commodity - silver or gold - is both the medium of exchange and the standard ofvalue (that is, the unit in which prices are stated in the marketplace).

A fiduciary money (or representative money) is a medium of exchange composed of someintrinsically valueless substance (such as paper) which the issuer promises to redeem ondemand in a commodity money (such as silver or gold coin) or in a monetary commodity(such as silver or gold bullion). The paper promise to pay is the medium of day-to-dayexchange, but the actual money and the ultimate standard of value remains the promisedmedium of payment, the silver or gold coin with which the note is to be redeemed.

A fiat money is a medium of exchange composed of some intrinsically valueless substance

which the issuer does not promise to redeem in a commodity or a fiduciary money. Themoney itself is given value by government fiat (Latin for "let it be done") or decree.Because a fiat money has no direct legal connection to a commodity money (in terms ofredemption) and, therefore, no real economic cost to its production, the supply of a fiatmoney can never be self-limiting; and the value of a fiat money is always largely a matterof public confidence in the economic or political stability of the issuer. For these reasons,historically every major fiat money have self-destructed in what is popularly called"hyperinflation" (that is, extreme decreases in purchasing-power) caused by eitherunlimited increases in the supply of that fiat money by the issuer or accelerating loss ofpublic confidence in the continued value of the money or the economic or political fortunesof its issuer, or both.

Constitutional Money

America was founded amidst one of the largest economic crises we've experienced. Therewas raging inflation along with a massive depression that had followed the emission of billsof credit and other forms of paper currency issued by the Continental Congress and many ofthe state legislatures. The founding fathers recognized their responsibility of putting these

paper monies into circulation and took actions to prevent this from ever happening again.

The founders of American independence also intimately understood the tyranny imposed bythose who control and manipulate the money and went to great lengths to ensure Americawould never again be enslaved to the moneyed vultures again who desire to set themselvesabove mankind in order to arrange, organize, and regulate it according to their fancy.

In writing the Constitution, they included the monetary powers of this new nation andoutlawed what James Madison in the Federalist papers denounced as "the fallacious mediumand improper and wicked project of paper money".

The Congress shall have power... To coin money, regulate the value thereof, and of foreigncoin, and fix the standard of weights and measures; - U.S. Constitution Article I, Section 8,Clause 5

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque andReprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender

in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the


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Obligation of Contracts, or grant any Title of Nobility.- U.S. Constitution Article I, Section10, Clause 1

The U.S. Constitution established commodity money as the only lawful medium ofexchange in America and empowered Congress to coin silver and gold coins the values of

which are to be "regulated" using a fixed standard of weights and measures. The value of theUS dollar represented a certain equivalent weight in silver and could be redeemed in silvercoins. The Constitution did not authorize printing paper money (Bills of Credit). Only goldand silver coins were considered legal tender as a standard of payment.

The Coinage Act enacted in Congress in 1792 fixed the monetary unit of the United States asthe silver "dollar" and defined the dollar as a unit of measure of 371.25 grains of pure silveror 416 grains of standard silver. The U.S. had adopted the decimal system [dollars and cents]for measuring the weight of money rather than the Avoir du pois, [Troy or 'shekel'] usedelsewhere. As a measurement, the U.S. dollar consisted of 100 equal cents, or ten dimes to adollar, or 4 quarters to a dollar. All of the minor coins were defined in terms of percentages of

the primary coin the dollar such that a half dollar contained 1/2 as much silver as a dollar,quarter dollars, 1/4th etc.

Dollar416 grains

Half Dollar208 grains

Quarter104 grains

Dime41 3/5 grains

Most people today consider the dollar a tangible thing, rather than a 'dollar' unit of WEIGHTMEASURE. Just as concrete is denominated [or expressed] in cubic yards and milk ismeasured in quarts, so too silver and gold were expressed/weighed in dollars. There is,therefore, no such 'thing' as a concrete cubic yard, a milk quart, or a silver [gold] 'dollar'.There is, on the other hand, a cubic yard of concrete, a quart of milk, and a dollar of silver orgold.

Ever since establishing a sound monetary system in the Constitution and further guaranteeingAmerican citizens life, liberty, and property in the Fifth, Ninth, Tenth, and FourteenthAmendments, there has been a struggle between the ungodly power of the elitist bankers andthose who choose liberty. That struggle can be characterized as the debauchery - or corruption- of the monetary system in America and throughout the world from commodity money, tofiduciary money, and to ultimately fiat money.

U.S. Central Bank

In 1791, Alexander Hamilton, the Secretary of the Treasury, made a deal to support thetransfer of the capital from Philadelphia to the banks of the Potomac in exchange for southern


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support for his Bank project. As a result, the First Bank of the United States was chartered byCongress in that same year. The First Bank of the United States was modeled after the Bankof England, partly owned by foreigners, who would share from its profits. The Bank was

bitterly opposed by several founding fathers, including Thomas Jefferson and JamesMadison, who saw it as an engine for speculation, financial manipulation, and corruption.

"I believe that banking institutions are more dangerous to our libertiesthan standing armies. If the American people ever allow private banks to

control the issue of their currency, first by inflation, then by deflation, thebanks and corporations that will grow up around [the banks] will deprive

the people of all property until their children wake-up homeless on the

continent their fathers conquered. The issuing power should be taken fromthe banks and restored to the people, to whom it properly belongs."-Thomas Jefferson

Public outrage over the abuses of the First Bank of the United States, including its practice of

fractional lending at a 10:1 rate (ten dollars of loans for each dollar they had on deposit) wassuch that its charter was not renewed and the bank ceased to exist in 1811.

The war of 1812 again left the country in economic chaos, putting the United States insignificant debt. This debt led to an increase in banknotes among new private banks, and as aresult, inflation increased greatly. Seeing another opportunity for easy profits for bankers, theSecond Bank of the United States, chartered in 1816 was founded out of desperation tostabilize the currency by President James Madison.

The Bank aided a real estate boom through its 10:1 fractional lending, which encouragedspeculation in land. This lending allowed almost anyone to borrow money and speculate inland, sometimes doubling or even tripling the prices of land. With such a boom, hardlyanyone noticed the widespread fraud occurring at the Bank as well as the economic bubblethat had been created. In the summer of 1818, the national bank managers realized the bank'smassive over-extension, and instituted a policy of contraction and the calling in of loans. Thisrecalling of loans simultaneously curtailed land sales and slowed the U.S. production boomresulting in the Panic of 1819.

The Second Bank of the United States had thrived from the tax revenue that the federalgovernment regularly deposited and served as the depository for Federal funds until 1833,when President Andrew Jackson instructed his Secretaries of the Treasury to cease depositing

the funds. Jackson saw the bank as an instrument of political corruption and a threat toAmerican liberties. In Jackson's veto message, the bank needed to be abolished because:

It concentrated the nation's financial strength in a single institution.

It exposed the government to control by foreign interests.

It served mainly to make the rich richer.

It exercised too much control over members of Congress.

It favored northeastern states over southern and western states.

The Central Bank's money-lending functions were taken over by the legions of local and statebanks that sprang up, leading to an expansion of credit and speculation. At first, as Jackson

withdrew money from the Bank to invest it in other banks, land sales, canal construction,cotton production, and manufacturing boomed. However, due to the practice of banks issuing
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paper banknotes that were not backed by gold or silver reserves, there was soon rapidinflation and mounting state debts.

At one time in the 19th Century, there were more than 5000 different types of bank notesissued by various commercial banks in America. Only the notes issued by the largest, most

creditworthy banks were widely accepted. The script of smaller, lesser known institutionscirculated locally. Farther from home it was only accepted at a discounted rate, if it wasaccepted at all. These banknotes could be converted into gold or silver by application at the

bank. Since banks issued notes far in excess of the gold and silver they kept on deposit,sudden loss of public confidence in a bank could precipitate mass redemption of banknotesand result in bankruptcy.

On January 8, 1835 withdrew all government funds from the Second Bank of the UnitedStates using it to pay off the national debt. Then, in 1836, Jackson issued the Specie Circular,which required buyers of government lands to pay in gold or silver coins. The result was agreat demand for gold and silver, which many banks did not have enough of to exchange for

their notes. These banks collapsed, and was a direct cause of the Panic of 1837, which threwthe national economy into a deep depression.

Debasing the Currency

Debasement is the practice of lowering the value of currency. A coin is said to be debased ifthe quantity of gold, silver, copper or nickel is reduced. Debasement occurred whenunscrupulous users shaved off small amounts from the edges of the coins, thereby reducingthe actual silver content of the coin. In order to prevent this, silver and gold coins began to be

produced with milled edges. The main reason a government will debase its currency isfinancial gain. By reducing the silver or gold content of a coin, a government can make morecoins out of a given amount of specie.

The consequence of debasing the currency will inevitably be ever-increasing prices(inflation), which is simply the markets way of saying that the currency is falling in value incomparison with everything else. The advantage to public officials of debasing its currency isthat the masses usually have no idea that government is behind the rising prices and so jointhe governments chorus blaming the rising prices on rapacious businessmen, profiteers, andspeculators.

"Lenin was right. There is no subtler, no surer means of overturning theexisting basis of society than to debauch the currency. The process engagesall the hidden forces of economic law on the side of destruction, and does itin a manner which not one man in a million is able to diagnose." - JohnMaynard Keynes

In less than 50 years of establishing the dollar as the currency of theUnited States, the debasement began. In an act passed on January


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18, 1837 the alloy was changed to 90% pure and 10% alloy thus having the effect ofcontaining the same amount of silver but being reduced in weight from 416 grains to 412.25grains of standard silver. Seated Liberty Dollars were introduced in 1840 and contained 90%silver, 10% copper with its silver content of 0.77344 troy oz.

Sixteen years later, on February 21, 1853 the Constitutional mandate of fixing the standard ofweights and measures (U.S. Constitution Article I, Section 8, Clause 5) was abandoned whenthe amount of silver in the fractional coins was reduced so that it was no longer possible tocombine the fractional coins to come up with the same amount of silver that was in the dollar.

Paper Money

The system of gold and silver backed moneyevolved into a system of fiduciary money -or representative money - as banks would

issue a paper receipt to their depositors,indicating that the receipt was redeemablefor whatever precious goods were beingstored. This system was much moreconvenient than lugging around gold andsilver and was widely accepted because everyone knew the paper receipts were "as good asgold". Ther paper was not the dollar, instead, it is 'worth', not 'is', 1 dollar (as in the U.S Silvercertificate.)

Abraham Lincoln battled for the right of Congress and the Treasury to hold the awesomepower of coining money. He knew that to surrender this power to private banks wasultimately to surrender the sovereignty of America. The use of bank notes issued by privatecommercial banks as legal tender was gradually replaced by the issuance of bank notesauthorized and controlled by the national government.

Legal Tender

Legal tender or forced tender is payment that, by law, cannot be refused in settlement of adebt.

During the American Civil War, the federal government was unable to pay its debts with goldor silver coin, so began to issue paper notes to pay its debts. In1862, Lincoln issued fiat paper money known as Greenbacks,without the backing of precious metals. When people refused toaccept them in payment, Congress adopted the Legal TenderAct of 1862, compelling them to do so, and thus begancirculating the first national United States currency. These bills of credit were known as LegalTender Notes because of the inscription on each obverse face stating "This Note is a LegalTender."

Remember, the U.S. Constitution prohibits any government from issuing what the Founding

Fathers called "Bills of Credit" (and what we today would understand as paper currencyredeemable in silver or gold), and outlaws any form of "legal tender" except silver and gold


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coins.

Art. I Sec. 10 Cl. 1, states, in part: "No State shall ... coin Money; emit Bills of Credit; makeany Thing but gold and silver Coin a Tender in Payment of Debts; ..."

This departure from the Constitution resulted in just as Frederic Bastiat predicted...

"When plunder has become a way of life for a group of men living together in society, theycreate for themselves in the course of time a legal system that authorizes it and a moral codethat glorifies it." - Frederic Bastiat in "The Law"

In 1868 the Supreme Court unanimously said that nothing other than coined money had beenrecognized by the legislation of the national government as lawful money. (Bank vs. Supervisors,7 Wallace, p. 30.) In Hepburn v. Griswold (1870), the Supreme Court found the acts creating thegreenbacks to be unconstitutional, ruling that forcing a creditor to accept payment in inflatedcurrency was a violation of the 5th Amendment, protection of property under due process.

That decision was later reversed following the appointment of two new judges by PresidentUlysses S Grant.

The Gold Standard

Following the Civil War, Congress recalled the Greenbacks from circulation and re-authorized the minting of silver and gold Dollars. The "Coinage Act of 1873" placed theUnited States on the gold standard, which replaced the bimetallic (silver and gold) standardthat had been created by Alexander Hamilton. Many saw this as a "crime," and on February28, 1878 the Bland-Allison Act was passed by Congress requiring the United States Treasuryto purchase between $2 million and $4 million of silver bullion from mining companies in theWest, to be minted into coins that would be legal tender for all debts, like gold.

Like the earlier Seated Liberty Dollars, the Morgan Dollar alsocontained 90% silver, 10% copper with its silver content of 0.77344troy oz. The dollar was continuously minted from 1878 until 1904when the supply of dollars in circulation was high and there was anshortage of silver bullion. Then in 1918, the Pittman Act called forover 270 million coins to be melted for silver content. In 1921, thecoinage of the Morgan Dollar resumed for that year and was

replaced by the Peace Dollar commemorative that would becomestandard issue.

These coins, however, were quite heavy, so the governmentapplied their gold certificate strategy to the silver. Supposethat there were five silver dollars in the treasury. Thegovernment would print a $5 Silver Certificate against thedollars, providing a somewhat easier medium of exchange.

The classic gold standard prevailed during the period 1880 and 1913 when a core of leadingtrading nations agreed to adhere to a fixed gold price and continuous convertibility for their

currencies. The gold standard was only a system for exchange of value between national
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currencies, never an agreement to redeem all paper notes for gold. Gold was used to settleaccounts between nations.

The Federal Reserve System

Early in 1907, New York Times Annual Financial Review published Paul Warburg's (apartner of Kuhn, Loeb and Co.) first official reform plan, entitled "A Plan for a ModifiedCentral Bank," in which he outlined remedies that he thought might avert panics. Early in1907, Jacob Schiff, the chief executive officer of Kuhn, Loeb and Co., in a speech to the NewYork Chamber of Commerce, warned that "unless we have a central bank with adequatecontrol of credit resources, this country is going to undergo the most severe and far reachingmoney panic in its history." "The Panic of 1907" hit full stride in October.

In classic Hegelian dialectic style, JP Morgan engineered the Panic of 1907 where the stockmarket fell nearly 50% from its peak in 1906, the economy was in recession, and there werenumerous runs on banks and trust companies. Complete ruin of the national economy wasaverted when J.P. Morgan saved the day by stepping in to organize a team of bank and trustexecutives who redirected money between banks, secured further international lines of credit,and bought plummeting stocks of healthy corporations. Morgan gained numerous holdings,as well as his bid to be the Rothschild's number-one American agent. J.P. Morgan's real featand service to Rothschild in the Panic of 1907 was that he created a mood in America to

believe that a central bank would prevent such a panic from occurring again and thus becamereceptive to a central bank.

Following the manufactured scare of 1907 the same bankers who created the crisis demandedreform from Congress who established a commission of experts to come up with anonpartisan solution. Rhode Island Senator Nelson Aldrich, the Republican leader in theSenate, ran the Commission personally, with the aid of his team of economists.

In 1910, Aldrich and executives representing the banks of J.P. Morgan, Rockefeller, andKuhn, Loeb, & Co., secluded themselves for 10 days at Jekyll Island, Georgia where theywrote the primary features of the Federal Reserve Act or Glass-Owen Act, as it wassometimes called at the time. The executives included Frank Vanderlip, president of the

National City Bank of New York, associated with the Rockefellers; Henry Davison, senior

partner of J.P. Morgan Company; Charles D. Norton, president of the First National Bank ofNew York; and Col. Edward House, who would later become President Woodrow Wilson'sclosest adviser and founder of theCouncil on Foreign Relations.

In violation of Article I, Section 8 of the U.S. Constitution, the Federal Reserve Act, signedinto law on December 23, 1913 by President Wilson allowed a cartel of private bankers tocreate, buy the shares, and own the Federal Reserve System.

The new owners of America's treasury include the Rothschilds of London and Berlin;Lazard Brothers of Paris; Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany;and the Lehman Brothers, Goldman, Sachs and the Rockefeller families of New York.
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The privately owned Federal Reserve Bank was granted a monoploy forthe issuance of banknotes in the USA - the Federal Reserve Note. Some

people think the Federal reserve banks are United States Governmentinstitutions. They are not Government institutions. They are privatecredit monopolies which prey upon the people of the United States forthe benefit of themselves and their foreign customers; foreign anddomestic speculators and swindlers; and rich and predatory money

lenders. As the Fed creates new money, it is then loaned back to the government charginginterest. The government in turn levies income taxes to pay the interest on the debt.

Coincidentally, both the Federal Reserve Act and the sixteenth amendment, which gavecongress the power to collect income taxes, were both passed in 1913. Further, the FED is theonly for-profit corporation in America that is exempt from both federal and state taxes. The

FED takes in about one trillion dollars per year tax free for the benefit of the banking familieslisted above. The money you pay in taxes does not go to the US Treasury to pay for theexpenses of the government. It goes to those private banking families, commonly known asthe FED, tax free.

Wilson, on his deathbed, admitted his error, saying that allowing the Federal Reserve to befounded was a betrayal of his country.

"A great industrial nation is controlled by it's system of credit. Our system of credit isconcentrated in the hands of a few men. We have come to be one of the worst ruled, one ofthe most completely controlled and dominated governments in the world-- no longer a

government of free opinion, no longer a government by conviction and vote of the majority,but a government by the opinion and duress of small groups of dominant men." -- PresidentWoodrow Wilson

With the outbreak of World War I, Britain was forced to abandon the gold standard and othernations quickly followed suit. The Fed quickly issued money to help pay the costs of WWI,as they were better positioned than the Treasury to issue war bonds, and so became the

primary retailer for war bonds under the direction of the Treasury. After the war, the Fed, ledby Paul Warburg and New York Governor Bank President Benjamin Strong, convincedCongress to modify its powers, giving it the ability to both create and destroy money.

The Peace Dollar was the last silver dollar minted for circulation inthe United States from 1921 to 1928. Like the earlier Morgan Dollar,it contained 90% silver, 10% copper with its silver content of0.77344 troy oz. By 1928, the US Mint had struck enough silverdollars to satisfy the requirements of the Pittman Act, and since

public demand for silver dollars did not materialize, the mint haltedproduction of the Peace Dollar that year (with fewer than twomillion struck).

By this time the Federal Reserve had taken over much of the currency market, and throughoutthe 1920s, they experimented with a number of approaches, alternatively creating and

destroying money and, in the eyes of many scholars (notably Milton Friedman), helping tocreate the late-1920s stock market bubble. After a brief attempt to revive the gold standard


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during the 1920s and the stock market crash in 1929, it was finally abandoned by Britain andother leading nations during the Great Depression.

After Franklin D. Roosevelt took office in 1933, the Fed became subordinated to theExecutive Branch, where it remained until 1951, when the Fed and the Treasury department

signed an unconstitutional accord granting the Fed full independence over monetary matterswhile leaving fiscal matters to the Treasury.

In 1933, Roosevelt persuaded Congress to declare Article I, Section 10, Clause 1 of theConstitution dead and made Federal Reserve Notes, alongside Silver Certicates, legal tenderfor all debts, public and private and rescinded the requirement that those notes be redeemablein gold coin, quiety placing the U.S. on a silver standard. Now our currency was backed withactual wealth in the form of silver, which is more plentiful than gold. Gold was re-valuedfrom $20/oz up to $35/oz and FDR made it illegal to own gold within the U.S. but allowedforeigners to redeem paper dollars for gold, thus putting the U.S. in default on domestic goldredemption.

On May 12, 1933, the Agricultural Adjustment Act was passed, which included a clauseallowing for the pumping of silver into the market to replace the gold. In 1934, a law was

passed in Congress that changed the obligation on Silver Certificates so as to denote thecurrent location of the silver. This law also allowed the government to exchange silver

bullion for the certificates, not just silver dollars.

The Peace Dollar returned briefly in 1934 and 1935, as the government needed additionalbacking for Silver Certificates. That wealth was also to be short lived.

In 1945 Congress debased the currency even further, reducing the backing to only 25 percent.The amount of Silver Certificates in circulation depended directly upon the amount of silver

bullion in the Treasury vaults, and unless more silver could be produced, they were quicklylosing their backing and could not be recirculated. Silver Certificates began to disappear fromcirculation during the 1940s and 1950s.

On June 4, 1963, President John Kennedy signed Executive Order 11110 indefiance of the Federal Reserve (Central Bank) which held a monopoly onAmerican currency, returning to the federal government, specifically the

Treasury Department, the Constitutional power to create and issue currencywithout going through the privately owned Federal Reserve Bank. The ordergave the Treasury Department the explicit authority: "to issue silvercertificates against any silver bullion, silver, or standard silver dollars in theTreasury." As a result, more than $4 billion in United States Notes were brought intocirculation in $2 and $5 denominations. On November 22, 1963, Kennedy was assassinatedand the United States Notes he had issued were immediately taken out of circulation. It seemsobvious to some that President Kennedy challenged the "powers that exist behind U.S. andworld finance," and his assassination was likely a warning to all future presidents not tointerfere with the private Federal Reserve's control over the creation of money.

Within days of Kennedy's assassination, the Federal Reserve issued its new notes with theobligation clause, "This note is legal tender for all debts, public and private, and is


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redeemable in lawful money at the United States Treasury, or at any Federal Reserve Bank,"replaced with only, "This note is legal tender for all debts, public and private."

Lawful money is any form of currency issued by the United States Treasury and not theFederal Reserve System, including gold and silver coins, Treasury notes, and Treasury bonds.

"The terms 'lawful money' or 'lawful money of the United States' shall be construed to meangold and silver coin of the United States. - Title 12, U.S. Code, Section 152.

Lawful money stands in contrast to fiat money, to which the government assigns valuealthough it has no intrinsic value of its own and is not backed by reserves. Fiat moneyincludes legal tender such as paper money, checks, drafts and bank notes.

Death of the Dollar

On March 25, 1964, the Secretary of the Treasury announced that Silver Certificates wouldno longer be redeemable for silver dollars. Subsequently, another act of Congress dated June24, 1967, provided that Silver Certificates could be exchanged for silver bullion for a periodof one year, until June 24,1968. This left only fiat Federal Reserve Notes in circulation withthe government no longer obligated to give the holder of a note gold, silver, or any specifictangible commodity in exchange for the note.

Our pre-1934 gold coins, were weighed using the decimal [dollar/cents] system. The pre-1965 silver coins [and pre 1935 'dollar'coin] illustrates a similar harmony - except for using adifferent decimal system than for measuring gold. When the government allowed the FederalReserve to violate the Constitutional basis of the dollar and finally divorce it from gold andsilver, the dollar ceased to exist. We still had an object we called 'dollars,' but now the unit ofmeasurement changed to an intangible CREDIT - no lawful money remaing in generalcirculation. And, intangible credit needs no system of weights and measures. Since noTHINGis used as money - you'll notice tax, bank and sales statements often display raw numbers[quantity symbols] only!

Silver dollars almost made a return in 1964, when Congress approved the mintage of 45million new silver dollars to fulfill the needs of the booming casino industry in Nevada.However, because of a critical silver shortage in 1965, Congress passed the Coinage Act of1965, which authorized the removal of silver content from circulating coinage (except for the

Kennedy half dollar) minted after December 31, 1964. President Lyndon B. Johnson issuedan order on May 15, 1965 to resume production of the Peace Dollar to include silver. 316,076Peace Dollars were struck at the Denver mint that month, before Congress overrode thePresidential order and demanded that production cease. All the coins produced to that pointwere ordered to be melted.

From 1965 to 1969, fifty cent piece coins were debased and adulterated by reducing the silvercontent to 40% silver, while in 1968 Congress repudiates redemption of all forms of "lawfulmoney" in silver, thus turning Federal Reserve Notes into a fiat currency domestically for thefirst time.

Production of dollar coinage did resume in 1971 with theEisenhower Dollar. That coin, however, has no silver content. The


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Eisenhower Dollar was struck with a copper-nickel composition for circulation and was thefirst United States dollar coin to not be struck in a precious metal, although special collectors'issues were struck at the San Francisco Mint in a silver-copper composition (40% silverclad). Likewise, the Susan B. Anthony, Sacagawea dollars, and Presidential dollars that have

been minted since the Eisenhower dollar contain no silver, making the Peace Dollar the last

true silver dollar struck for circulation.

When the U.S. was on a gold standard, every dollar was backed by actual wealth in the formof gold bullion. The paper dollar was a paper promise, a contract, to pay in gold. The laworiginally required that 40 percent of all federal reserve notes be backed by gold. Until 1934the promise on our paper currency to pay "dollars" in "lawful money" meant exactly what itsaid. Today we continue to use the words dollars and lawful money out of habit and custom,and overlook that we no longer have either dollars or lawful money.

Severing it's last tie to the U.S. Constitution, the Treasury Department, on January 21, 1971stopped issuing United States notes and none have been placed into circulation since that time

because United States notes serve no function that is not already adequately served byFederal Reserve notes. According to the U.S. Treasury, Federal Reserve notes are notredeemable in gold, silver or any other commodity, and receive no backing by anything Thishas been the case since 1933. The notes have no value for themselves, but for what they will

buy.

"All the paper money issued today is Federal Reserve notes.The real backing for the nation'smoney is faith in the strength, soundness and stability of the American economy." - The Hatsthe Federal Reserve Wears, FRB of Philidelphia, pg. 4

The ONLY value the American dollar has is our confidence

and belief that it does have value!

Now, our fiat paper money is totally worthless. There is nothing of real value backing itup. The money is given value by government fiat (Latin for "let it be done") or decree,

enforced by legal tender laws forcing people to accept the fraud, in place of real money, goldand silver. By law the refusal of "legal tender" money in favor of some other form of payment


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is illegal.

Circumventing the basic law of just weights/measures allowed centralized ecomonic activityin a state/banking 'combine' to solely determines how much money [credit] to create, forwhom, and at what cost. Natural resources [gold or silver], augmented by our own labor, no

longer determines the money supply. Banks now 'create' money [credit] out of nothing.

The very profitable venture of counterfeiting wealth has been around for a long time. Thepractice of using debt as the basis for currency started in Babylon.

Simultaneous with a credit system was a need to conceal the fraud perperated by thoseengaged in [theft by] principal creation. Their solution was a fee [interest] for the loan ofnothing. This solution created a mathematical dilemma, however. How does one return to asole source [the banks] more than they loaned into circulation? [For simplification, imagineone bank and a total money stock of 3 eggs.] Let's say you borrow 3 eggs. When you repaythe loan, you are required to repay the principal plus interest [1 egg]. How do you repay 4

eggs on a 3 egg loan - when the banks own all the chickens? To resolve this problem [yours -not the banks] more debtors are required to bring new 'dollars' into circulation for repaymentof interest on outstanding debts. Thus, an endless cycle of debtors and creditors is necessaryto postpone the inevitable foreclosure. Does Ponzi scheme sound appropriate?

Those banksters who issued U.S. paper money (Federal Reserve Notes) perpetrated a fraudwith the creation of paper money used to steal away gold and silver from the hands of the

people and to loot the treasury of the United States. It was, as Frederick Bastiat called in his1850 book "The Law", legal plunder.

Another problem was created with this credit basedcreation of money out of nothing. The increased'supply' of credit depreciates as a naturalconsequence, creating an insidious new tax - calledinflation.

Since 1913, when the Federal Reserve was createdby Congress, your money has lost 96% of itspurchasing power due to inflation.

"Remember when gas was only 25-cents a gallon?

You could take a dollar down to the gas station andbuy four gallons for a buck! At that time our dollarwas backed by silver - real money. Guess what? That same amount of silver still buys fourgallons of gas today! That just proves that real money like gold and silver holds its value andit is the US dollar that buys less and less. As a matter of fact, when you think about it, yourealize that gas, food, and almost everything else has NOT gotten more expensive. It onlyseems that way because the value of the US dollar is worth less and less so it takes more andmore of them to buy the same goods and services. Most people think prices have gone up, butactually: it is the value of the US dollar that has gone down." [Bernard von NotHaus, TheLiberty Dollar]

The irony of inflation is that its victims become increasingly dependent upon the verygovernment/banking system which confiscates their production and created the inflation. To
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offset the effects of the plunder, the plunderees [public] need more assistance from theplunderers - which further enslaves the public. As we stand on the brink of total economiccollapse, the government and Federal Reserve justifies its continued legal plunder with scaretactics and claims that the banks "are too big to fail."

The transition from bank notes to government-guaranteed currency marks the evolution fromtrust in a financial institution to trust in the economic capacity and future prosperity of thenation. The greater a countries production and productivity, the more the goods and servicesit offers in exchange for legal tender, and therefore the greater the confidence and trust in thatcurrency.

"Lenin is said to have declared that the best way to destroy the capitalist system was todebauch the currency. By a continuing process of inflation, governments can confiscate,secretly and unobserved, an important part of the wealth of their citizens." - 1980 AnnualReport Federal Reserve Bank of Richmond, pg 6

The United States Government is Broke

By 1971, Nixon closed the gold window, and stopped redeeming paper money for gold, thusturning Federal Reserve Notes into a fiat currency internationally for the first time. Goldquickly rose in price over the next decade by an average of 34% per year, up to $850/oz.

The vaults of Fort Knox, once brimming with gold, have been looted and are now reported tobe empty. The gold has been given to the International banksters. Because of American debt,the international money masters demanded and got our gold. It was drained through what iscalled the "London Gold Pool," an agency of the world's most powerful bank, and is nowlodged deeply in the underground vaults of the Bank for International Settlements in Basil,Switzerland.

Only a small number of U.S. congressmen are aware of the great gold scandal. Recently, thishandful of congressmen began to demand that the Federal Reserve be audited so it could bedetermined what has been done with this gold and how the Federal Reserve is manipulatingour currency. The Federal Reserve has stonewalled at every turn, and the White House hasshunned all attempts to put pressure on the Federal Reserve. It is clear that the influential menwho run our money supply do not want the truth to get out.

In 1975, Americans were permitted to own real gold again. In 1980, bonds were used to lurepeople away from gold. Bonds were paying a high interest rate, and a nation-wide adcampaign was designed to get people to buy bonds instead of gold. And if you wanted gold,you were supposed to buy the paper gold of "gold futures contracts" for the increased rate ofreturn. The nation was deceived and rushed back into paper money.

Hegelian Dialectic

Make no mistake about it our current economic crisis was engineered by the sameInternational bankers that have been active throughout our history and that brought about a

central bank and unconstitutional taxesin the U.S.
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The history of the economic crises we've experienced in America can only be understoodwithin a framework of the Hegelian dialecticprocess. Every major financial crisis Americahas experienced in her history has followed this same Hegelian dialectic pattern with theoutcome being another incremental step toward world financial domination by an elite few.

The International bankers create the Problem in the first place... the Reaction is the economiccrisis... and the Solution is provided by the same people that created the problem.

Consider, for example, the global financial crisis of the early 21st century. The internationalbankers of the Federal Reserve in America and abroad created the problem by making hugeamounts of money easily available to anyone with very little oversight and pushing the

perceived value of the investments made to unrepresentative highs. Federal Reserve BoardChairman Alan Greenspan, Treasury Secretary Robert Rubin, and SEC Chairman ArthurLevitt vehemently opposed any regulation of financial instruments known as derivatives, andin particular the specific kind of derivative, the mortgage-backed security, that triggered theeconomic crises of 2008. While Greenspan's role as Chairman of the Federal Reserve has

been widely discussed (the main point of controversy remains the lowering of Federal fundsrate at only 1% for more than a year which, according to the Austrian School of economics,allowed huge amounts of "easy" credit-based money to be injected into the financial systemand thus create an unsustainable economic boom.

Many libertarians, including Congressman and former 2008 Presidential candidate Ron Pauland Peter Schiff in his book Crash Proof, predicted the crisis prior to its occurrence. They arecritical of theories that the free market caused the crisis and instead argue that the FederalReserve's printing of money out of thin air and the Community Reinvestment Act are the

primary causes of the crisis.

As the true values of investments became apparent, investors rushed to cover their losescausing what was for all practical purposes a run on the bank resulting in home foreclosuresand bank failures. In February 2008, Reuters reported that global inflation was at historiclevels, and that domestic inflation was at 10-20 year highs for many nations. Next came thereaction of the marketplace contracting with stock market declines, massive job layoffs andimpending business failures. This led to the rising sentiment that something needed to bedone to prevent a total economic collapse and to save institutions too big to fail. Coming tothe rescue was the same international bankers of the Federal Reserve that caused the problemin the first place with theirsolution. Economic stimulus plans were announced and bailoutsof failing or threatened businesses were carried out. Taxpayers were called upon to pony up

with their wealth to "bailout" or "rescue" those same banks, allowing the bigger banks toconsolidate their power even further buying up the smaller banks.

The crisis continues even after transferring trillions of dollars into the hands of theinternational bankers of the worlds central banks. The response of those who created and

perpetrate the problem is more economic stimulus, what Texas Congressman Ron Paul saidwould be akin to pouring kerosene on an already raging fire. He warns that such measureswill cause a recession to turn into a full scale depression possibly worse than that of the1930s.

You can't overlook the possibility another reason the crisis continues is because there might

be an ever larger agenda here. Perhaps we haven't yet identified an even more sinister problem-reaction-soluction scenario.
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Should an oil embargo ensue, product scarcities will cause frenzy buying of food and fuel,gold prices will spike, the dollar will crash and global panic will most likely break out.

Given the growing influence of collectivist politicians here and abroad, a likely scenario is

the globalization of world financial markets and the merging of soverign nations into largerglobal entities. In the final quarter of 2008, the financial crisis saw the G-20 group of majoreconomies assume a new significance, suggesting a new economic order including a globalcurrency.

Steven Watson, writing for Infowars, said: The decline of the economy in the US is beingcaused by the very predatory globalist policies that are still presented to us as the solution foreconomic turmoil. Globalist vampires such as the IMFand the World bank, but two of theelite central banks and private interests, have drained the third world dry, and are nowfocusing their attention on enslaving the developed world.

The single currency and a new economic order is a major step on the road to globalgovernance. Europe already has its own strong single currency, while the dollars days seemto be numbered. When money is being printed and distributed by private corporations is itany surprise to see a push for a merger with other countries currencies?

There is yet one remaining consistent piece of the puzzle yet to emerge in our current crisis.In allprevious financial crises, a state of war was always associated with the process. Besidesthe ongoing war in Iraq and Afganistan, could there be an impending war to bring us out ofthe current economic mess? According to forcaster, author, and CEO ofThe Trends ResearchInstitute, Gerald Celente, an attack on Iran by either Israel or the US will spark the onset ofWorld War III.

The Boom - Bust Cycle

Are you beginning to understand the game banksters play to consolidate the wealth into theirpockets?

"When plunder has become a way of life for a group of men living together in society, theycreate for themselves in the course of time a legal system that authorizes it and a moral codethat glorifies it." - Frederic Bastiat in "The Law"

The central bank causes inflation by creating debt/money for loans and credit and makingthese funds readily available... setting up the booming economy. They next use the inflationwhich they created as an excuse to shut off the loans/credit/money. The resulting shortage ofcash causes the economy to falter or slow dramatically - or bust - and large numbers of

business and personal bankruptcies result. The central bank then seizes the assets used assecurity for the loans and the wealth created by the borrowers during the boom is thentransferred to the central bank during the bust. That's how the rich get richer, and the poor get

poorer.

In 2008, America was faced once again with another financial crisis. And, like in previous

crises, it was engineered by the same International bankster elites that have sought to setthemselves above mankind in order to arrange, organize, and regulate it according to their
http://www.jeremiahproject.com/newworldorder/hegelian-dialectic.html#financial-crisishttp://www.trendsresearch.com/http://www.trendsresearch.com/http://www.trendsresearch.com/http://www.jeremiahproject.com/newworldorder/hegelian-dialectic.html#financial-crisishttp://www.trendsresearch.com/http://www.trendsresearch.com/


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fancy. Easy and low cost credit created by artificially manipulated interest rates by the Fedencouraged a real estate boom (the problem). Once unsustainable levels of investments werereached, the values of those investments were debased leading to a contraction of credit,widespread foreclosures, and runs on the banks (the reaction). And, like in previous crises,the International banksters provided the solution... government bailouts of trillions of dollars

of taxpayer money into the coffers of financial institutions "too big to fail."

Theres no doubt now, that Fed chairman Alan Greenspans plan to pump zillions of dollarsinto the system via low interest rates has created the biggest monster-bubble of all time andset the stage for a deep economic retrenchment, writes Mike Whitney. Greenspansinflationary policies were designed to expand the wealth gap and create greater economic

polarization between the classes. By the time the housing bubble deflates, millions ofworking class Americans will be left to pay off loans that are considerably higher than thecurrent value of their home. This will inevitably create deeper societal divisions and, verylikely, a permanent underclass of mortgage-slaves.

Greenspan has successfully piloted the nation into virtual insolvency. In fact, the parallelsbetween our present situation and the period preceding the Great Depression are striking. Justas massive debt was accumulating in the market from the purchase of stocks on margin, sotoo, mortgage debt between 2000 and 2006 soared from $4.8 trillion to $9.5 trillion. In bothcases the wealth effect spawned a spending spree which looked like growth but was reallythe steady, insidious expansion of debt which generated economic activity. In both periodswages were either flat or declining and the gap between rich and working class was growingmore extreme by the year.

"...The borrower is servant to the lender." - Proverbs 22:7

As a result of allowing International bankers to dismantle our Constitution and devolve ourmonetary system from commodity money, to fiduciary money, and now to fiat money...Americans have once again become slave to the lenders and absent massive transfers ofwealth from working Americans, their ponzi scheme is on the brink of collapse.

The government operates a scheme of oppressive, hidden taxation through increases in thesupply of money that generate systematic increases in the prices of goods and services(what the public calls "inflation").

Through this system of hidden taxation, modern political money licenses the dominantfinancial and political oligarchy of this country to "Redistribute" the nation's wealth from

one group to another - more than $6 trillion since World War II, according to the AmericanInstitute for Economic Research.

The banking system now own the trust companies, investment dealers, stock brokers, andbond brokers and more, as the little people are bankrupted, put under power of sale, androt unemployed while the stores are packed with goods.

By functioning as a mechanism for "redistributing" wealth, modern political moneysystematically corrupts the electoral process, enabling politicians to buy votes withpromises of new or expanded governmental spending-programs made possible only by thebanking system's ability to "monetize" the public debt.

By linking the corrupt banking system to the public debt, modern political money licensesthe banksters to loot the public treasury, initially by guaranteeing Federal Reserve Notes as"obligations of the United States" and specially privileging those notes as "legal tender", and

ultimately by providing taxpayer-funded "bail outs" of the bankers when the scheme ofinherently fraudulent fractional-reserve banking collapses.


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Modern political money and political banking function as key mechanisms in the New WorldOrder scheme of fascistic central economic planning that misdirects and wastes resourcesand thereby lowers the standard of living of the vast mass of Americans for the benefit of aprivileged few.

"Whenever a government assumes the power of discriminating between the different classesof the community, it becomes, in effect, the arbiter of their prosperity and exercises a powernot contemplated by any intelligent people in delegating their sovereignty to their rulers. Itthen becomes the great regulator of the profits of every species of industry and reduces menfrom a dependence on their own exertions to a dependence of the caprices of theirgovernment." [Ron Paul, "The Revolution: A Manifesto"]

How long can this CONfidence-game last?

Not forever!

How is the fraud sustained and public CONfindence maintained?

"Should government refrain from regulation (taxation), the worthlessness of the money(credits) becomes apparent and the fraud can no longer be concealed." -- John MaynardKeynes, "Consequences of Peace."

Banks charge interest on their loans to give the Federal Reserve Notes the perception ofvalue.

They count on the short residual memory of the older generation to remember the dayswhen gold and silver certificates circulated at par with precious metals.

They dumb-down the public with government sponsored public schools where studentsnever learn the truth about money and where students learn to exchange labor andproduction [assets] for checks and banknotes [liabilities] created out of nothing in agovernment protected bank.

The corporate owned mainstream media keeps the public distracted with an endless streamof nonsensical entertainment and news presented by well trained propagandists. When wasthe last time you heard a newscaster or pundit report anything that made sense?

Confidence in 'credit' is also produced by taxation. Governments go to great lengthscollecting far less of 'it' than they spend - to sustain an aura of value. In fact, governmentdoes not NEED to collect taxes to pay for services as it can simply print all the bank notes itneeds.

"If, on the one hand, the banks overly expand credit, hyperinflation occurs. If, on the otherhand, the banks overly restrict the expansion of credit in order to avoid hyperinflation,recession and then depression occurs. The bankers' "trick" is to continue to expand creditwithin an expanding, and therefore essentially noninflationary, economy. The insoluble

problem inherent in credit-expansion through fractional-reserve banking, however, is thatexpansion of a fiat money supply inevitably misdirects and wastes real economic resources,resulting in an increasingly nonrational economy - that is an economy that does not expand inreal terms. In short, credit-expansion by fractional-reserve banking in the long run guaranteeseconomic collapse, with resultant social chaos and political crisis.

The burden of governmental debt - much of it made possible only by central-bank

"monetization" - has approached levels unsustainable in real terms even with drasticallyincreased confiscation of Americans' earnings through explicit taxation. But Americans seem
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reluctant to accept more taxation to fund the never-ending follies of a spendthrift welfarestate. Thus, repudiation of the debt (in whole or in part) through extreme depreciation ofFederal Reserve Notes and bank-deposits denominated therein appears likely, if not certain."[Dr. Edwin Vieira, Jr., "The Federal Reserve System: A Fatal Parasite on the American bodyPolitic."]

Return to Constitutional "Real" Money

The Bible is very clear that the type of medium of exchange we are to be using is notworthless paper. We can continue to follow "man's" way and receive the curses, or we can dothings God's way, and receive the blessings. We are presently being led down a path to ourown destruction, and until we begin to see money as a Scriptural, moral issue, we willcontinue to live in bondage.

We do have a choice, and ultimately, it's a moral choice. Choose bondage or choose liberty.

Come out of her, my people, so that you will not share in her sins, so that you will notreceive any of her plagues; for her sins are piled up to heaven, and God has rememberedher crimes. - Revelation 18:4-5

If we as a nation are to avoid economic collapse and begin to enjoy the vision of ourfounders, we must...

Restore America's original constitutional monetary system of silver and gold coinage. The USConstitution has never been amended to allow anyone other than Congress to coin andregulate currency.

Insist we return to an honest system of weights and measures. Demand that all the paper currencies of private banks be true fiduciary monies - that is, be

redeemable in silver or gold, or some other commodity with intrinsic value. Repeal the unconstitutional legal tender laws forcing citizens to accept worthless paper

money as payment and resume the practice of using lawful money (gold and silver) as theonly legal tender currency.

Dismantle the incestuous and corrupt relationship between the national government andthe banking industry through the Federal Reserve System, the Federal Deposit InsuranceCorporation, and so on.

Abolish inherently fraudulent fractional-reserve banking.

End the government's use of the monetary and banking systems to "regulate" the economyand to impose pervasive police-state surveillance on individuals.

Individually, we can begin to take more responsibility for our own economic future.

Stop immediately incurring new debt. If you're now in debt, get out.

While we still can... we should be buying physical gold and silver as the storehouse of ourwealth. While not being real Constitutional money, owning gold & silver bullion representsthe most universally trusted form of savings because gold & silver continue to be the mostwidely recognized form of money. Unlike fiat currency and some stock market investments,gold and silver will never lose ALL its value.

The American Silver Eagle is the official silver bullion coin of theUnited States, first released by the United States Mint on November

24, 1986. American Eagle Silver bullion coins are affordableinvestments and legal tender with a nominal face value of one dollar.
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Above all, they're the only silver bullion coins whose 1 troy oz. weight and 99.9% pure silverpurity are guaranteed by the United States Government. They're also the only silver coinsallowed in an IRA.

The American Gold Eagle is an official gold bullion coin of the

United States, authorized under the Gold Bullion Coin Act of 1985,and first released by the United States Mint in 1986. Offered in 1/10oz, 1/4 oz, 1/2 oz, and 1 oz denominations, these coins areguaranteed by the U.S. government to contain the stated amount ofactual gold weight in troy ounces. These coins are made with goldfrom sources in America, with an additional alloy of silver andcopper to produce a more wear-resistant coin of .9167 (22 karat,which had long been the crown gold English standard for gold

coins).

The American Buffalo, also known as a Gold Buffalo, is a 24-karat

gold bullion coin first offered for sale by the United States Minton June 22, 2006. This was the first time ever that the UnitedStates Government has minted pure (.9999) 24-karat gold coins forthe public. On September 26, 2008 the U.S. Mintannounced it is temporarily halting sales of the AmericanBuffalo coins because it can't keep up with soaring demand asinvestors seek the safety of gold amid the current economicturbulence.

First minted in 1988, the silver Maple Leaf is now one of themore popular members of the Canadian Maple Leaf family of

bullion coins...besides silver, one-ounce Maple Leaf coins are also produced by the Royal Canadian Mint in gold, platinum and palladium. The silver Maple Leaf coin contains one troy ounce of pure .9999 fine (or "four-nines") silver, making it the purest one-ounce silver coin produced by any government mint anywhere inthe world, and is a legal tender coin with a face value of fiveCanadian dollars.

The 800-year old Austrian Mint first minted the

Silver Vienna Philharmonics in 2008, and arepure .999 fine silver bullion coins eachcontaining one troy ounce of pure silver.

The market value of the coins is generally aboutequal to the market value of their gold or silvercontent, not their face value.

The day may not be far off where the fiat currency we now use as a medium of exchange willbecome so devalued through hyperinflation, it will take cartloads of it to purchase basicnecessities. History tells us that since the Roman Empire every currency has been inflated

into non-existence, a valuation of zero. All world currencies will suffer the same fateeventually.


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Right now, the U.S. government is printing away your wealth through inflation. As theycontinue to increase the money supply and hand it over to banks and failed investmentschemes, the value of each of your paper dollars decreases. The last M3 reports showed that18% more dollars were being printed yearly by the Federal Reserve. They have since stopped

publishing M3 figures so we have no idea how bad it's gotten in the last few years.
http://www.shadowstats.com/

manufactured prosperity - money

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