6139008-History-of-Money

BEARER ON DEMAND -- DOLLARS. It was not a certificate of wealth -- it was a bank note -- an evidence of debt -- putinto circulation as an interest-bearing LOAN. Now we had a completely different set of principles at work. This point hasbeen missed by most everyone. Of course the banks issued many times more gold notes than there was gold.Later, on the 1934 series Federal Reserve note, we no longer find "redeemable in gold" (in 1933 they took all the goldfrom the people and demonetized it.) The bank-controlled government made it a crime to own gold. It was 40 yearsbefore the people could own gold and when they could it was no longer money. Now the note reads "This note is legaltender for all debts public and private and is redeemable in lawful money at the United States Treasury or atany Federal Reserve Bank" WILL PAY TO THE BEARER ON DEMAND -- DOLLARS. Notice again, they didn'tclaim that the Bill was the dollars, but said -- WILL PAY TO THE BEARER ON DEMAND -- DOLLARS. The noteadmits on its face that it isn't lawful money, because it states it is redeemable in lawful money. It said nothing about whatlawful money was. With the words promise to pay written on its face, it met the specifications for a legal note (negotiablepaper). The 1950 Series Federal Reserve note, shown below looks and states the same thing as the 1934 note except thesize of the wording about legal tender and redeemable in lawful money has been reduced to just 3 lines and to an almostunreadable size, clearly no one was reading the words on the bills anymore. In fact, the Federal Reserve nowpromises to tax you and uses you as the collateral against which it issues the Federal Reserve Notes andcyber money!!!Let's examine very closely the Federal Reserve notes in use today. There are major changes. The bill only says, "This noteis legal tender for all debts public and private" Gone are the words "Redeemable in Lawful money" and the words "WILLPAY TO THE BEARER ON DEMAND" The Federal Reserve note is no longer a legal promissory note (negotiable instrument).The Bill has now become the Dollar. The only thing we have for a medium of exchange -- Money -- is a credit at the bank.This credit is loaned into circulation at interest. When the interest is due the total debt is always greater than the moneysupply. The debt obligations are greater than the supply of "money" to fulfill the obligations incurred by the people,resulting in unpayable compounding debt which constantly raises the costs of living, and shifts influence and theownership of property from the many to a few.In the banking system's greed and drive to protect their theft by deception -- (fractional banking) and to protectthemselves from bank runs, etc., the banking system put themselves into a catch 22. As long as there was free coinage ofmetals or some other form of wealth (debt free) money, the interest on the bank loans, or at least part of the interestcould be paid with the wealth (debt-free) money, therefore the debt would grow more slowly. It would notmathematically, be forced to grow. Now that all the wealth money has been removed from the system, there is no way topay any of the interest, so the debt must constantly compound. Timothy P. Schilling, Public Information Specialist, FederalReserve Bank of Chicago, has confirmed that at the end of 1990 there was at least $26 Trillion of debt accruing interest.Yet, the total money supply is just over $5 Trillion, and it's a debt too! Money is created when loans are issued and debtsincurred, money is extinguished when loans are repaid. (Congressional Research Service) Interest earned on investmentsis not new money. Interest earned on investments is only other loan-principal captured as profit in the process ofcommerce. We can't add to the money supply of $5.2 trillion without also increasing the debt. If we reduce theindebtedness by $5.2 trillion we extinguish the total money supply. In a debt-credit money system money mustconstantly accrue interest due if it is to exist. When money is created as a loan, it is money and it is a debt. But, theadditional interest that must be repaid is not money. it is ONLY A DEBT expected to be paid in money. If not paid, it mustconstantly accrue more interest debt due.In a debt-credit money system, interest cannot be paid without putting someone else deeper into debt. The resultingshortfall must be added to the price of finished goods and services. The total debt is transferred and continues tocompound when a seller manages to capture his total principal plus interest debt in the market place and repay a bankloan. As the spread between prices and the money supply increases your money buys less, it loses buying power.Eventually, as prices increase far enough beyond the total money supply, you will not be able to work enough hours tobuy anything. (See Chart example) You won't be able to borrow the money to purchase the item either because theamount of hours you can work (24 hours daily) will never produce enough 'value' to collateralize a loan big enough tomeet the item's selling price. Yes, there are some very successful people but they are becoming fewer. Eventually theywill be weeded out because they too are consumers. As prices for everyone continue to rise beyond the money supplymore and more of the wealthy (top competitors) will fall on hard times. This is what's now happening Worldwide. We arenow constantly aware of two major questions. They are: Why is everything getting so expensive? Where will we get themoney to pay the prices?You can see the progression historically.It used to take just one worker to support a family and the families were larger.Today, one worker's hours aren't enough. Two paycheck households are the norm. Even now, two-paycheck householdsare having more difficulty making ends meet. Our debt-credit system makes ownership of property more and moredifficult. For more and more people, a declining standard of living is the future. The solution is to slowly stop the creationof money as an unpayable, interest-bearing debt loaned into circulation. At the same time we must bring new money intocirculation debt-free as a Wealth-a payment for work done (production) that benefits all (roads & bridges).The Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 443