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Permalink Reply by Freedomrox on August 7, 2012 at 6:14pm

What this article fails to address is the actual need for a Federal Reserve that loans the Govt. paper script at interest, thus controlling expansion and contraction, thus, control of this whole nation's currency.

 

If a man or woman worked for a dollar's pay and received a dollar's worth of anything, commodities, an IOU for commodities, precious metals on an at-par value without ever having to deal with an interest rate devaluing the base currency, whatever that may be, then there would never be crashes and bubbles, because the base value would be fixed and not manipulated. That is why gold is not a good form of currency, nor is silver, since they both can be manipulated so easily. Salt, dirt even wood has been used throughout the ages, most especially the Tally Stick in the Middle Ages in Britain, and even then, taxes were garnered by the cut of the Exchequer. This was mostly in commercial usage and would be merited, but not upon personal usage. Believe it or not, this was the genesis of the modern Stock Exchange.

http://livingthehistoryelizabethchadwick.blogspot.com/2011/04/tally...

 

The very best of all systems ever in usage was the "Colonial Scipt" that was created by none other than Ben Franklin, and was devoid of interest of any kind. This is explained in Franklin's own account;

 

The English officials asked how it was the Colonies managed to collect enough taxes to build poor houses, and how they were able to handle the great burden of caring for the poor. Franklin's reply was most revealing: "We have no poor houses in the Colonies, and if we had, we would have no one to put in them, as in the Colonies there is not a single unemployed man, no poor and no vagabonds."

Think long and hard about this. In the American colonies before the American Revolution, there was "not a single unemployed man, no poor and no vagabonds". -- no one on Welfare, no one on Social Security, no homeless, no income tax, no alphabet agencies, No IRS, BATF, FBI, DEA, CIA, HEW, OSHA, SBA, and on and on and on to provide for the "general welfare" of our villages, towns, cities and states. How did Benjamin Franklin explain this to the British officials of his day?
How would he explain it to today's lawyers, judges, politicians and other government officials?

"It is because, in the Colonies, we issue our own paper money. We call it Colonial Script, and we issue only enough to move all goods freely from the producers to the Consumers; and as we create our money, we control the purchasing power of money, and have no interest to pay."

 

This is an excellent essay and can be found at: http://www.kamron.com/Liberty/colonial_script.htm

 

There really is another way, and if the so-called National Debt were repudiated today and Colonial Script again revived, this Nation would be a fountain of wealth overnight! That is why it had to be abolished in 1764, whereby the production of Colonial Script was made illegal by the Currency Act,  passed into law in England (of course due to pressure from the Bank of England) prohibiting the Colonies from issuing their own money, ordering them to use only the money that was provided (in insufficient quantities) by the English bankers.  Benjamin Franklin said,

 

“In one year, the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the Colonies were filled with unemployed”.

 

This then is the face of your true enemy and the true power behind the Federal Reserve. Just as recent news has outed the LIBOR scandal which wound up being six or seven coffe mates in England that determined the interest rates on loans between each other's bank, so too does this out the whole system as one born of Feudalism and so long as we allow it, shall always be the tool of our enslavement.

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Permalink Reply by Nathan on August 7, 2012 at 10:34pm

What this article fails to address is the actual need for a Federal Reserve that loans the Govt. paper script at interest, thus controlling expansion and contraction, thus, control of this whole nation's currency.

True.

But then, as your excellent comment points out all too well, the Fed is a topic which deserves an in-depth discussion of its own.

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