6139008-History-of-Money

8) World Currency SDRs (Special Drawing Rights): these are issued by the IMF/World Bank to debtor 3 rd Worldcountries and again it is fiat money. IMF/World Bank is in the process of stockpiling the World’s gold bullion supply(already has about 2/3rds of it) as part of the operations of the New World Order to force a new World currency in thefuture. These SDRs represent a debt or an “I owe U” owed by the citizens of the World to the BankLords who own theprivately owned Federal Reserve banks and commercial banks which created this currency from nothing and at no liabilityto themselves. The liability of providing a service or product in exchange of these notes is always passed on to the World’staxpayers.9) Commodities: Certain commodities can be considered money. For example, oil is always in demand around theWorld. Oil reserves can be considered like money in the bank.10) Etc.: There were and are other forms of money since ancient Babylonian times and the chapter on The History ofMoney will elaborate on this, e.g. seashells, bricks, whale’s teeth, boar’s tusks, stones, feathers, coconuts, cocoa beans,iron rings, salt, beaver pelts, blankets, bronze axes, wheels,……Money takes the form of whatever people agree on or whatever governments/feudal lords force on the people to use fortrade. The monetary system works best when money is used as a medium of exchange and not as a store for valuewaiting to be exchanged for a product/service. Some forms of money are universally accepted and some are locallyaccepted. Some represent an existing asset such as gold or silver, i.e. real money. Some represent private debt and somein addition represent a national debt such as paper currency money, i.e. a token or fiat money or a credit “point” system.This type of money is actually stock whose value keeps decreasing due to dilution, corrupt credit issues, balance of trade,speculative attacks, accumulated debt and liabilities, etc. The dollar now is only a share counter with no fixed commodityvalue, i.e. it’s not really money, it is credit money or fiat money! Money records the intermediary step during a trade, e.g.I sell my labor to someone and I get pieces of paper in return as a record. I haven’t yet gotten a service or product inexchange for my labor, i.e. this is an incomplete trade represented by the paper credit notes that are waiting to be spentat some future date (your money is not your money until the day you spend it). Therefore, there is always an amount ofliquid money in circulation waiting to be spent.Money created from nothing, i.e. without any existing asset in escrow to back it, is called FIAT money. Fiat money is thusan “I owe U” and note that due to inflation money loses its value over time. Inflation is caused by dilution in the value ofthe fiat money (just like diluting a stock by issuing more at no cost or if the demand for the stock goes down or thecompany performance degrades, or speculative attacks, accumulated debt and liabilities, etc.) due to the non-productiveuse of the fiat money issued and due to corrupt issues of the currency. And even inflation is taxed! We will explain laterbut to summarize INFLATION = INEFFICIENCY + WASTE + DISHONESTY + CORRUPTION. This gap between the"commodity value" of the material substance of the monetary piece of paper or cyber book entry and its purchasing poweris a bottomless well of temptation for the private BankLords who get to issue it using our and the future generation’sproduction and wealth as collateral and at no risk to themselves. Thus, fiat money must be protected by strict control onits issue. In little-known and hidden chapters of history, this has accounted for the purloining of the wealth of empires.Unless an honest public body retains the power of creating money and keeps alive the distinction between the legal tenderthat can take the form of paper bills and the worth of the material, inked paper or whatever, society is flying blind, andinviting robbery by the descendents of the ancient “priest-bankers” from Babylon, Jerusalem and Rome.The Federal Reserve System is the BankLords’ Bank, IT IS A PRIVATE CARTEL (Quit Bono Who Benefits?)The FED is the Bankers’ bank. A non-bank goes to the commercial banks to borrow money. The commercial banks go tothe Federal Reserve banks to borrow money when they have a temporary shortfall as people shift money between banks.The FED banks cannot fail because they can always print money at a very low charge from the Treasury’s Bureau ofEngraving & Printing (BEP) to cover whatever payments it needs to make.The same people who own the major commercial banks also own the Federal Reserve Banks. The privately owned FederalReserve (FED) banks and commercial banks actually issue (create) the "money" we use. In 1964, the House Committeeon Banking and Currency, Subcommittee on Domestic Finance, at the second session of the 88th Congress, put out astudy entitled Money Facts under the sponsorship of Congress Wright Patman(http://eldoradogold.net/pdf/October_2006/Patman_PrimerOnMoney.pdf ) which contains a good description of what theFED is: "The Federal Reserve is a total money-making machine. It can issue money or checks. And it never has a problemof making its checks good because it can obtain the $5 and $10 bills necessary to cover its check simply by asking theTreasury Department's Bureau of Engraving & Printing (BEP) to print them." Any one person or any closely knit group whohas a lot of money has a lot of power. Now imagine a group of people who have the power to create credit andprint money to cover it. Imagine the power these people would have. This is exactly what the privately owned FED is!Sir Josiah Stamp, former President, Bank of England: "Bankers own the earth. Take it away from them, but leavethem the power to create money and control credit, and with a flick of a pen they will create enough to buy it back."By the power of fraudulent legislation, these credits are created by the private BankLords at no liability to themselves viathe privately owned Federal Reserve central banks and commercial banks, yet the interest and the debt is repayable tothem in the form of the same paper that they issued from nothing or actual goods and services. The currency notes thatthey issue are an “I owe U” representing a national debt owed by the citizens of the country to whoever holds thecurrency in the form of dollar accounts or Treasury Bonds or Bills or other types of “Promises to Pay” against which theseThe Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 48