6139008-History-of-Money

enough gold or coinage in circulation to honor these pledges, and legislation now does not entitle you to do this anymore,which means in effect, the paper money is worthless (a lot more on this later). Here's what the Bank of Englandstates about "I promise to pay the bearer on demand the sum of......"Legal Tender and the Promise to Pay Legal Tender: The concept of legal tender is often misunderstood. Contrary topopular opinion, legal tender is not a means of payment that must be accepted by the parties to a transaction, but rathera legally defined means of payment that should not be refused by a creditor in satisfaction of a debt. The current series ofBank of England notes are legal tender in England and Wales, although not in Scotland or Northern Ireland, where theonly currency carrying legal tender status for unlimited amounts is the one pound and two pound coins.Promise to pay: The "...Promise to pay the bearer the sum of ..." on Bank of England notes has nothing to do with legaltender status. The promise to pay stands good for all time and means that the Bank will pay out the face value of anygenuine Bank of England note no matter how old. The promise to pay also holds good for damaged notes, as long asenough of the note survives to prove that it was genuine and no previous claim for it has been received. The Bank'smutilated notes department receives some 25,000 claims a year for anything from fire or water damage to notes eaten byall manner of household pets.Irving Fisher: "Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, notmoney, but promises to supply money they do not possess." In fact, the Federal Reserve now promises to tax youand uses you as the collateral against which it issues the Federal Reserve Notes and cyber money whichcirculate in our economy like a hot potato!!!There have been currency crises in 87 countries since 1975. Never in the history of the World have so many countries hadsuch unstable banking systems. Fiat money has no intrinsic value; that indeed, is the definition of fiat money (and to bepainfully clear here, we are talking about all money that is lent into existence or simply created by a "lender of lastresort," without a sound commodity backing, which includes the Federal Reserve style fiat note and other banks’ cybermoney). Fiat money is a valueless medium of exchange, not a commodity. While a gold backed note can be redeemed forgold, a fiat currency can be redeemed for only more fiat money. To say then, that this fiat currency shall trade for anotherfiat currency, based on it’s “market value” which is zero may raise the eyebrows of certain skeptics. Money is now acommodity by edict or legislation. It was by this same strategy that Peter Pan was able to fly. The gold backed dollar wasan example of a commodity backed currency. A gold note was redeemable with a certain specific amount of gold, so thenote itself might be seen as a commodity. A hat check is a good analogy of a commodity backed currency; when youcheck your hat, the commodity, you get a hat-check ticket which is essentially a commodity backed note. You can tradethe hat check (this analogy would work better if everyone wore identical hats) to someone else, thus spending it... or youcan redeem it for a hat. When the government withdrew the backing for silver and gold notes it essentially said “you can'thave your hat back; you can only spend your note now.” Since most people never redeemed their notes for gold anyway,they didn't give it much thought but in the hat check analogy we can see that what the government has done by claimingthat this newly irredeemable money is a commodity, is to say “the hat check, which earlier merely represented a hat, isnow IN FACT a hat itself. You can wear the ticket on your head, hang it in your closet, or spend it as you please.” Moneyis not a commodity, exchange rates are humbug, and the consequences for 87 countries have been severe.Note that other banks can fail, but the privately owned Federal Reserve System bank cannot fail because a “run on theFed” is not allowed, i.e. holders of the Federal Reserve Notes cannot come to the Fed and ask to have it exchanged forgold. However, the Fed can cause other banks, companies, business and governments to fail by refusing to issue credit orraising interest rates. The power of the private owners of the Federal Reserve System is projected onto the World scalewith “The World Bank” (established in 1944).Adventures of the Dollar, by Howard M. Wachtel, professor of economics at the American University,Washington, DC: “By the late 1970s, there was a huge increase in the dollars floating around the World economy - therate of growth in dollars between 1973 and 1980 was 20 times the growth involume of trade.” Note that when countries and people decide not to holdthe FRNs (Federal Reserve Notes US Dollars) and exchange them for USgoods and services, a terrible inflation will ensue.Bilderbergers Conspire SecretlyDavid Rockefeller: In Sand, Baden Baden, Germany, in June 1991, addressed are-union of these three elites with largely overlapping membership: “We aregrateful to the Washington Post, the New York Times, Time magazine and othergreat publications whose directors have attended our union and have respectedtheir promises of discretion for almost four decades... it would not have been possible to develop our World project if wehad been subjected to the full fire of publicity all these years. The supranational sovereignty of an intellectual éliteand of World Bankers is surely preferable to the self-determination which has been practised for centuriespast.” This was at the association of the Bilderberg Group (where politicians get their orders from the IlluminatiBanksters), The Council on Foreign Relations, and the Trilateral Commission, (on which Banks and governments meet).The Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 112