DEBT-FREE MONEY – U.S. Constitutional Monetary System. : “If this mischievous financial policy, which has its origin in North America, shall become a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world.
That country must be destroyed or it will destroy every monarchy on the globe.” – An editorial in the London Times explained the bankers attitude toward the Debt-Free Lincoln Greenbacks.
* The word “BENCH” (Judge’s bench that he sits on in a Court of Law) in Latin means “BANK”
* Banks are just representations. Courts are the banks, judges are the bankers per their oath under 28 U.S.C. § 453.
*** A Historical Perspective: The Banking Monopoly ***
I. Introduction: The Federal Reserve Act Of 1913.
* In 1913, the U.S. Congress passed a bill called the Federal Reserve Act. This bill allowed an independent, non-government group to privatize, and take control of America’s monetary system.
* The Federal Reserve Bank’s name was chosen by this group to deceive the American people into believing that it was a branch of the U.S. government. It isn’t!
* This privately held monopoly continues to give great power to a handful of International Bankers, who are non-Americans, to issue America’s money, to set interest rates on it, to finance endless wars, and to enslave the masses with debt.
* This Debt Based Monetary System is what has been destroying the American economy, and bringing about depressions for generations. It needs to come to an end.
The privately held U.S. bank deceptively known as the Federal Reserve.
Facts about the Federal Reserve.
1) The Federal Reserve is a privately owned for profit corporation.
2) The Federal Reserve has no reserves.
3) The name was created prior to the Federal Reserve Act that was passed in 1913. This was done to make Americans believe the U.S. banking system operated in the public interest. The truth is, the Federal Reserve is a private bank owned by private shareholders, and runs purely for private profits, thereby creating massive debt that must be paid with interest by the American people.
4) This privately held organization pays no taxes on the trillions of dollars it makes.
The Federal Reserve was chartered by an act of deceit, through an act of Congress!
In 1923, Representative Charles A. Lindbergh, a Republican from Minnesota, and father of the famous aviator “Lucky” Lindberg stated, “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.”
Former chairman of the House Banking, and Currency Committee, during the great depression era, Louis T. McFadden in 1932 stated, “We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States, and has practically bankrupted our Government. It has done this through the corrupt practices of the moneyed vultures who control it.
When the Federal Reserve Act was passed, the people of these United States did not perceive that a world banking system was being set up here. A super-state controlled by international bankers, and industrialists acting together to enslave the world. Every effort has been made by the Fed to conceal its powers, but the truth is it has usurped the government.”
Thomas Jefferson wrote, “I sincerely believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from the banks, and restored to the people to whom it properly belongs.”
James Madison, the main author of the U.S. Constitution wrote, “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.”
The Federal Reserve is now the most powerful privately owned central bank in the world. However, it was not the first.
* The Goldsmiths: The Birth of Fractional Reserve Banking
Money changers, those that lend money for excessive fees, and those that manipulate the quantity of money available to the public, were active in Medieval England. They were so active that they could orchestrate, and manipulate the entire English economy. These were not bankers per se, these were goldsmiths, who were in reality, the first bankers. They kept other people’s gold for safe keeping in their private vaults.
The first paper money originated as a receipt, as proof that gold, and silver coins were left with the goldsmith to store in their secured vaults. Over time, paper money became the norm because it was more convenient than carrying sacks of heavy gold, and silver coins. The goldsmiths eventually noticed that only a small fraction of people returned to demand their gold, at any one time.
Goldsmiths then started cheating on the system, and discovered they could print more money than they had in actual gold.
The goldsmiths would then loan out that extra money, and collect interest on it, and not pay any interest to depositors. This was the birth of Fractional Reserve Banking, which is loaning out many times more money than the assets that are available on deposit.
Example: If a goldsmith had 1000 in deposits, they would draw up 10,000 in paper money, and lend out 10 times more than they actually had in deposits. Goldsmiths gradually began to accumulate more wealth, and continued to use this criminal enterprise to accumulate more, and more gold.
Today the practice of loaning out more money than there is gold in deposit, is known as Fractional Reserve Banking. Every bank in the U.S. is allowed to loan out at least ten times more money than they actually have. That is how bankers get unjustly rich, by charging interest on money they don’t actually have.
Example: A bank gives a loan with an 8% interest. There actual net annual income is 80%.
** THE TALLY STICK (DEBT-FREE-MONEY) SYSTEM: The Most Successful Monetary System in Recorded Human History, So Far!
King Henry I Of England: The Tally Sticks.
Around 1100 AD King Henry 1st resolved to take the power of money away from the lenders.
He invented one of the most unusual money systems in history. It was called the Tally Stick System. This system lasted until 1826. The Tally System was adopted to avoid the monetary manipulation of the goldsmiths.
Tally Sticks were merely sticks of wood with notches cut on one edge of the stick to indicate denominations. Then the stick was split lengthwise so that both pieces still had a record of the notches.
The king kept one half to protect against counterfeiting. The other half would be spent into the economy, and circulate as money. Under this system money could not be manipulated, and it could not be stolen. No other form of money had worked as well, and for so long as Tally Sticks.
The British Empire, which was the most powerful nation in the world, was built on the Tally Stick System.
Tally sticks were used to keep bankers from seizing control of the monetary system of England.
The Bank of England was formed in 1694, and attacked the Tally Stick System because it was money that was outside the power of the money changers, just as King Henry had wanted it to be.
The Tally Stick succeeded despite the fact that the banks introduced the coin system as competition.
In the 1500s, King Henry 8th relaxed the usury laws, the money changers immediately made their metal coins plentiful for decades. But, when Queen Mary tightened the money laws on usury, the money changers renewed the hoarding of gold, and silver coins, causing the economy to plummet.
When Queen Elizabeth the first took the throne she was determined to regain control of the economy. Her solution was to introduce gold, and silver coins from the public treasury, and take away control of the money supply from the money changers.
Financed by the money changers, Oliver Cromwell overthrew King Charles, purged the Parliament, and put the King to death. The money changers were allowed to immediately consolidate their financial power.
The result was, for the next 50 years, the money changers plunged Great Britain into a series of costly wars. They took over a square mile of property in the center of London, known as the city of London. This area is still known as one of the three prominent financial centers of the world.
Conflicts with the Stewart King led the money changers of Britain to combine with the money changers of the Netherlands, and finance the invasion of William of Orange, and overthrow the Stewarts in 1688, and took the English throne.
* The Bank Of England.
The Bank of England was established in 1694.
By the end of the 1600s, England was in financial ruin. The continuous wars with France and Holland had exhausted the nation. Frantic government officials met with the money changers and begged for the money necessary to pursue their political purposes. The price was a government sanctioned, privately owned bank, which could issue money created out of nothing.
The Bank of England would be the first privately owned central bank. It was deceptively called the Bank of England to make it appear to the general population that it was part of the government. Like any other private corporation, the bank sold shares to get started.
The investors names were never revealed. Each investor was to put up one and a quarter million British pounds in gold coin to purchase their shares in the bank. However, only 750 thousand pounds was ever received. Despite that, the bank was chartered in 1694 and started loaning out several times the money it was supposed to have on reserve, all at interest.
The new bank would lend politicians as much money as they needed as long as they secured the debt through direct taxation of the British people. As a result, the formation of the Bank of England became a form of legal counterfeiting of the national currency for private gain.
Unfortunately, today nearly ever nation has a privately owned central bank. Using the Bank of England as the basic model. This form of banking takes over an entire nations economy and becomes a plutocracy ruled by the rich.
Nations do need central banks, however they do not need them to be privately controlled.
The central bank scam is in reality a hidden tax where nations sell bonds to the central banks to pay for things politicians don’t have the political will to raise taxes to pay for. But, the bonds are created by the central banks out of nothing.
More money in circulation makes the money already in circulation worth less. The government gets as much money as it needs and the people pay for it with inflation.
– Posted by Stack Jones in The History Of Banking Fraud on 02/20/2014
Great Source Post!: [ A Historical Perspective: The Banking Monopoly – criminalbankingmonopoly ]
* Split Tally Stick
The split tally stick was a technique which became common in medieval Europe, which was constantly short of money (coins) and predominantly illiterate, in order to record bilateral exchange and debts.
A stick (squared hazelwood sticks were most common) was marked with a system of notches and then split lengthwise.
This way the two halves both record the same notches and each party to the transaction received one half of the marked stick as proof.
Later this technique was refined in various ways and became virtually tamper proof. One of the refinements was to make the two halves of the stick of different lengths.
The longer part was called stock and was given to the party which had advanced money (or other items) to the receiver. The shorter portion of the stick was called foil and was given to the party which had received the funds or goods. Using this technique each of the parties had an identifiable record of the transaction.
The natural irregularities in the surfaces of the tallies where they were split would mean that only the original two halves would fit back together perfectly, and so would verify that they were matching halves of the same transaction.
If one party tried to unilaterally change the value of his half of the tally stick by adding more notches, the absence of those notches would be apparent on the other party’s tally stick.
The split tally was accepted as legal proof in medieval courts and the Napoleonic Code (1804) still makes reference to the tally stick in Article 1333.
* Split Tally Stick System in England
The most prominent and best recorded use of the split tally stick (or “nick-stick”) being used as a form of currency was when King Henry I initiated the tally stick system in or around 1100 in medieval England.
TALLEY STICK SYSTEM
Banking – the Greatest Scam on Earth
The Collapse of The American Dream Explained in Animation
From Goldsmiths To Hedge Funds To…Chaos
* How Banking Works
Banking didn’t start out as a reckless, parasitical plaything of a moneyed and politically-connected aristocracy. In the beginning, in fact, bankers weren’t even bankers. They were jewelers and goldsmiths who had to maintain their inventory with vaults, guards etc., and offered storage services to others with valuables to protect. So the original banks were, in effect, very safe warehouses.
Eventually some goldsmiths noticed that the paper receipts they gave to their customers to evidence the valuables left in storage began to circulate as currency alongside their countries’ coins.
A shopkeeper accepting these receipts in payment knew that he could go to the goldsmith to redeem them for gold and silver, and also recognized that a paper receipt was more convenient to use as currency than were pieces of metal.
Gradually these receipts became a widely-accepted form of payment, circulating among buyers to sellers and saved like other forms of wealth.
The goldsmiths then noticed something else about their new paper-money invention: Only a tiny fraction of their clients asked for the return of their valuables in any given period, which led to a bright – but legally and morally-dubious – idea.
Why not start issuing receipts in excess of the gold and silver on hand? The goldsmiths could spend this currency themselves or lend it to others – thus inventing the business/consumer loan. Henceforth the total gold and silver in the vault (the goldsmith’s reserves) would equal only a fraction of the receipts circulating as currency.
“Fractional reserve banking” was thus born of deception if not outright fraud, because for the receipts to retain their value the goldsmiths had to pretend that those paper claims to gold and silver were backed by an equal amount of metal and were therefore of equivalent value.
They were not, of course, because a tangible asset is more valuable than a promise to pay a tangible asset, particularly when the latter outnumbers the former.
The goldsmiths, having evolved into more-or-less recognizable bankers, then realized that more deposits equaled more profits. So they began paying people for deposits of gold and silver rather than charging for their storage, thus inventing the interest-bearing account.
The resulting system had some inherent dangers, most obviously that it tempted bankers to lend out ever-greater multiples of deposits, increasing the odds that they would be unable to meet withdrawal requests and collapse. This happened frequently early-on, eventually leading governments to regulate the amount that a given bank could lend against its capital.
For a sense of how this works, imagine a bank with $100,000 in capital that is required to hold a reserve equal to 10 percent of its loans outstanding. In our example, the bank can lend 90% of its depositor’s money, or $90,000 while 10%, or $10,000 remains in reserve.
Now here’s where it gets interesting: When our hypothetical bank makes a loan, the recipient deposits the proceeds in another bank, which can lend out 90% of that deposit or $81,000. The recipients of those loans make deposits in other banks, and so on, until a huge multiple of the original deposit base has been turned into circulating currency.
In other words, banks can make up 90% of the loan money out of nothing. They just put it down on paper or online and POOF! Instant money, that they charge interest on.
Money may not grow on trees, but bankers can make it up out of thin air.
The complete removal of the Debt-Based Fractional Reserve Banking System and it’s replacement by a U.S. Constitutional Debt-Free Monetary System in America, is a Primary Part of the True Democracy Party’s “New Quadrillenium” Platform, to be revealed in only a few days. 🙂
The Tally Stick Monetary System built Great Britain into an Empire. But really all it was, was a Tamper Proof, Debt-Free based Monetary System that helped the British economy grow by leaps and bounds until crushed by Bankers. “No other form of money had worked as well, and for so long as Tally Sticks.”
Wade House and the True Democracy Party of America wants to do the same thing for…America and it’s Citizens.
Let’s Rock This!