6139008-History-of-Money

paper currency is distributed. Can you see where the theft occurred? The thief is the bank who produced more currencyand devalued everyone’s savings. Every paper “dollar” produced by the private Federal Reserve causes a reduction in thevalue of your savings. The freshly printed “dollar” is not backed by gold and the all other “dollars” in your pocket arereduced in value. Therefore, our currency may be called “dollars” but they are really paper currency notes. Each one issupposed to represent a debt that the private Federal Reserve owes you in gold coin. Each paper currency note is notbacked by gold and cannot be redeemed in gold. It becomes an empty promise. The note itself is invalid. However, it isguaranteed by the US taxpayers. And again, the taxpayers are paying for an elite dynasty who own the Federal Reserve,i.e. a modern form of ancient feudalism!They still felt the paper dollars in their hands. The savings account balances haven’t changed. It didn’t matter because thevalue of the currency itself was stolen. It didn’t show up on the bank statement because the quantity of the currencyhadn’t changed. What changed was the value of the currency. As the value of the currency goes down, prices go up. It’lltake more currency to buy the same product or service. The devalued currency results in increased prices. It didn’thappen overnight. People found themselves with twice as much currency and this increased demand on products andservices. The government blamed the increase in prices on demand. But the Bankers and the politicians knew that theincrease in prices was due to the increase in the amount of currency in circulation without the backing the currency withgold. The supply of currency has now increased. However, the supply of goods and services has stayed constant--just asthe supply of gold in storage. It would then require twice the amount of currency to buy the same amount of goods andservices. Since the value of the currency has dropped by half, the prices will nearly double in time. This paper currencythat is placed into circulation that is not backed by gold or silver is called “fiat” currency. It is simply paper currency withno intrinsic value. The paper currency notes can no longer be converted to gold. The currency is just paper. The “legaltender” laws are used to encourage people to accept them as currency.Governor Laurence H. Meyer, of the Federal Reserve Bank, explained fiat currency in his owns words inSeptember, 2001: Fiat money is inconvertible, meaning that it is not convertible into nor backed by any commodity. Itserves as legal tender by decree, or fiat, of the government. Its value is based on trust--specifically that others will acceptit in payment for goods and services and that its value will remain relatively stable. This trust is based, in part, on lawsthat make the fiat money "legal tender" in the payment of taxes and, in the United States, also in the payment of privatedebts.According to Merriam-Webster's Collegiate Dictionary, fiat money is a noun, dated back to 1876: Money (as papercurrency) not convertible into coin or specie of equivalent value. The American Heritage® Dictionary of the EnglishLanguage cites about fiat money: Legal tender, especially paper currency, authorized by a government but not basedon or convertible into gold or silver. The same can be said about apple pie. A person can cut an apple pie into fourths.Then cutting the pie into eighths will make more slices of the pie. The weight of each slice goes down even though theoriginal size of the total pie stays the same. The pie did not get larger. The slices of the pie were cut thinner. Papercurrency is the same as apple pie. You can cut as many slices as you would like and make each real thin until all the slicesare very small and they’re not worth buying.Dr. Robert Batemarco, who teaches economics at Marymount College, New York, is quoted in Joseph Banister's book,Investigating the Federal Income Tax: The quantity of U.S. money has increased year in and year out every year since1933. The narrow measure of the quantity of U.S. money (basically currency in circulation and balances in checkingaccounts) stood at $19.9 billion in 1933. By 1940, it had doubled to $39.7 billion. It surpassed $100 billion in 1946. $200billion in 1969...,$400 billion in 1980. $800 billion in 1990, and today it stands at almost $1.2 trillion. That is over 60times what it was in 1933.United States paper currency is fiat money because gold or silver does not back it. The legal tender laws of the UnitedStates require persons to accept the private currency Federal Reserve Note as payment for its face value. The fact that itdoesn't have intrinsic value is immaterial in the eyes of the law. There is an inscription on every dollar bill, “THIS NOTE ISLEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE.”US Constitution on the Coinage of MoneyNow, what does the Constitution says about coining money? The U.S. Constitution asserts that only gold and silvercoin can be tendered as payment for debt. The United States Constitution, Article I, Section 8 states... “The Congressshall have Power...To coin Money, regulate the value thereof, and of foreign Coin, and fix the Standard of Weights andMeasures."The United States Constitution, Article I, Section 10 states...”No states shall...coin Money; emit Bills of Credit; make anyThing but gold and silver Coin a Tender in Payment of Debts.” The U.S. Constitution only accepts gold and silver coin asmoney. Paper currency notes without backing of an equivalent gold or silver are not money. The private Federal ReserveNotes U.S. dollars are tokens to be used as long *****as someone else is willing to accept them as payment. TheConstitutional standard for the U.S. money to be backed by gold or silver has been abandoned. Legal tender laws legallycompel people into accepting worthless currency as payment. As you see, the United States government borrows alimitless supply of fiat currency from the private Federal Reserve Bank, the “Fed”, to operate and purchase everything itneeds. The collateral for this loan is the future earnings (taxes) of the American people. The United States does not needto tax the American people to run the Federal Government. It taxes the people to pay the INTEREST to the private FederalReserve Bank! The Federal Reserve Bank can print all the money it needs and the United States federal government canThe Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 389