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#1
10-02-2007
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Marco Polo on Money - China's Great Depression
CHINA'S GREAT DEPRESSION
by Krassimir Petrov, Ph.D. September 2, 2004 http://www.financialsense.com/editor...2004/0902.html Quote:
http://www.fee.org/publications/the-...e.asp?aid=5640 Quote:
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When our knowing exceeds our sensing, we will no longer be deceived by the illusions of our senses -- Walter Russell... People and humanity are Human beings have been enslaved by divisiveness--the product of binary thinking for too long - Buddhabot 
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#2
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
Thanks for the post goldissima!
Paper money has destroy practically every empire throughout history. Working on another one right now.
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GOLD=FREEDOM!
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#3
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
A keeper goldissima ... what a great lesson.
__________________
"If you teach a poor young man to shave himself, and keep his razor in order, you may contribute more to the happiness of his life than in giving him a thousand guineas." Benjamin Franklin (1706–1790), U.S. statesman, writer. Autobiography, ch. 8 (written 1771-1790, published 1868).
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#4
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
The Mongol's? They were funded to take over China for Venice...Venice was the center of Global finance at the time...The Bank of Venice was the first Central bank as you see them today in history...It showed up in 1172...and by the 1300's had conquered most of the known world...China was just as it is now a source of cheaply produced stuff...Economically China was run into the ground and looted by Venice much like what the British did in the 1920's to 30's and like what is being done to China now...commercial banks as you see them now did not exist...They were all merchant banks...The Global system of that time reached maximum potential and imploded to oblivion around 1345 (Not just China's Great depression...The whole global system at that time)...The refugees left Venice and set up shop in Spain, England, and the Netherlands...Naval powers...Venice relied on Buying armies and navies...It had no actual Military power...
The first commercial bank as you see them today appeared in Spain 1400... Spain, The Netherlands, and England competed for control of the world... Once the new world was basically looted dry the treasure ships stopped showing up in Spain and it caved in...England and the Netherlands eventually agreed to a truce and joined forces...The Bank of England showed up in 1694 and began conquering the known world...various wars/so called revolutions funded by England took place and afterwards central banks appeared in the target countries...Which are branches of the Bank of England... The American and French revolutions and Russian revolutions were city of London operations. The City of London ran the Revolutionary war...Just like they ran the French Revolution which was followed by the creation of the Central bank of France and the Russian Revolution followed by the creation of the Central bank of Bank of Russia... Napoleon was installed by the Crown...First thing Napoleon did after the French Revolution was decree the creation of the Banque de France 18 January 1800... "The Banque de France was created on 18 January 1800 by Napoléon Bonaparte, who was then First Consul, to foster renewed economic growth in the wake of the deep recession of the Revolutionary period. The new Bank's task was to issue bank notes payable to the bearer on sight in exchange for discounted commercial bills." "The Second (Central) Bank of the United States was chartered for many of the same reasons as its predecessor, the First Bank of the United States. The War of 1812 had left a formidable debt. Inflation surged ever upward due to the ever-increasing amount of notes issued by private banks. Specie was jealously hoarded. For these reasons President Madison signed a bill authorizing the 2nd Bank in 1816 with a charter lasting 20 years." "On October 25, 1917, the Bolsheviks seized the State Bank building in Petrograd (St. Petersburg), but it was only until two months later that they actually took control of the bank and its operations. In the morning of December 14 the Bolsheviks seized the Petrograd commercial banks and later in the evening the All-Russian Central Executive Committee (VTsIK) issued a decree on the nationalisation of banks, establishing a state monopoly on banking. Private credit institutions were nationalised and merged with the State Bank, which a month later was renamed the People’s Bank of the Russian Republic (still later it was renamed the People’s Bank of the Russian Soviet Federative Socialist Republic (RSFSR))." Revolution/war...Then poof Central bank pops into existance... 313 years after The Central bank of England showed up...There are now 100+ central banks spread out over the globe... And the Global system like in 1345 has again reached maximum potential and about to implode to oblivion... "London was still at the top of the financial pyramid with New York" -Alan Greenspan K.B.E. September 25, 2002 in a speech to business leaders and dignitaries at both the Treasury and the Bank of England after recieveing his K.B.E...Or Knight Commander of the British Empire...By Elizabeth the Second, by the Grace of God, of the United Kingdom of Great Britain and Northern Ireland and of Her other Realms (USA) and Territories Queen, Head of the Commonwealth, Defender of the Faith.
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#5
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
"The Continental was the name of a paper currency issued by several American Colonies, as well as by the Continental Congress, after the Revolutionary War began"
The second Congress met in Philadelphia on May 10, 1775, and on that day, in secret session, the measure was agreed upon, but the resolution was not formed and adopted until June 22, the day on which news of the battle on Breed's Hill was received by the Congress. Then it was resolved "that a sum not exceeding 2,000,000 Spanish milled dollars be emitted by the Congress in bills of credit for the defence of the America," and that "the twelve confederate colonies [Georgia was not then represented] be pledged for the redemption of the bills of credit now directed to be emitted." Each colony was required to pay its proportion, in four annual payments, the first by the last of November, 1779, and the last by the end of November, 1782. A committee appointed for the occasion reported the following day the annexed resolution: "Resolved, that the number and denominations of the bills be as follows: 49,000 bills of 8 dollars each ... $392,000 49,000 bills of 7 dollars each ... 343,000 49,000 bills of 6 dollars each ... 294,000 49,000 bills of 5 dollars each ... 245,000 49,000 bills of 4 dollars each ... 196,000 49,000 bills of 3 dollars each ... 147,000 49,000 bills of 2 dollars each ... 98,000 49,000 bills of 1 dollar each ... 49,000 11,800 bills of 20 dollars each ... 236,000 ———— ————— Total, 403,800 ... $2,000,000 "Resolved, that the form of the bill be as follows: CONTINENTAL CURRENCY. No.———— ————Dollars. This Bill entitles the Bearer to receive ———— Spanish milled Dollars, or the value thereof... "A committee was appointed to procure the plates and superintend the printing of the bills. The plates were engraved by Paul Revere, of Boston. The paper was so thick that the British called it "the pasteboard currency of the rebels." The size of the bills averaged about 3-1/2 by 2-3/4 inches, having a border composed partly of repetitions of the words "Continental Currency." On the face of each bill was a device (a separate one for each denomination) significant in design and legend; for example, within a circle a design representing a hand planting a tree, and the legend "Posteritat" — for posterity. Twenty-eight gentlemen were appointed to sign these bills. New issues were made at various times until the close of 1779, when the aggregate amount was $242,000,000." The spanish milled dollar? Constructed form the silver looted by the Spanish self proclaimed Bond servants of Jesus from the Aztec and Incan civilizations which the Spanish annihilated in the looting for Jesus operation... It was the most abundant coin in the New World... The US dollar showed up in 1792 by decree...The coinage act of 1792 and the US Dollar was decreed to be... "Dollars or Units—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenths parts of a grain of pure, or four hundred and sixteen grains of standard silver." so 371 grains X 242,000,000 = 89,782,000,000 grains/480 grains per troy ounce = 187,045,833 ounces of silver that no one had to spend especially the continental congress... Taxation without representation? How about Hypocracy without representation? what was the solution? see below... "The First Bank of the United States was needed because the government had a debt from the Revolutionary War, and each state had a different form of currency. It was built while Philadelphia was still the nation's capital. Alexander Hamilton conceived of the bank to handle the colossal war debt — and to create a standard form of currency." "The First Bank's charter was drafted in 1791 by the Congress and signed by George Washington" Hence the need for the 1792 decreed money or coinage act... Now there were 100's of chartered and unchartered commercial banks operating in the USA all during the so called Revolutionary war...and they used all those Continentals as collateral for loans...and inflated the debt supply of the colonies massively and there was massive hyperinflation and after the so called war eneded in 1783 the Continentals were not printed anymore and the hyperinflation (leveraging of old debts to create new debts to service the old debts at the resquest of the consumer) could not be sustained and the economy in the colonies suffered a hyperdeflationary implosion...The index of all commodity prices fell from 226 to 85...The Depression of the 1780's...Ever hear about it? History is written by the winners...ever hear that one...Well below must be the account of a loser... "With trade at a standstill, farm produce a drug in the market, no employment for common labor, and little spiecie in circulation, court judgments for debts or overdue taxes could in most cases be enforced only by stripping a farmer of his real estate, his cattle, and his furniture. In Worcester County alone, 92 persons were imprisoned for debt in 1785" --Historian Samuel Eliot Morison. In some places the economy imploded so deeply that grass grew waist high in the streets... Or how about this account...of the civil war...Between the rich and poor made poor by the rich... "As the situation worsened in 1786 armed bands of impoverished debtors forcibly prohibited courts from sitting including the Court of Quarter Sessions in Worcester County. Violence was most intense in New England and the Northeast, where population pressures combined with depleted soil to press subsistance farmers to desperation. Rioting mobs intent on preventing the enforcement of judgements against debtors struck in many areas, including New York, Connececut, Vermont, New Hampshire, Rhode Island, and Massachusetts." "In Massachusetts, Connececut, and Rhode Island the discontent was organized along military lines. thousands of men, commanded by continental army Veterans and current officers of the Massachusetts state militia, were organized into rebel regiments." The most important military engagement of these revolts was Shays's Rebellion, a battle for a Federal arsenal at Springfield, Massachusetts, on January 25, 1787. "Their Creed is, that the property of the United States has been protected from the confiscations of Britain by the joint exeritions of all, and therefore out to be the common property of all; and he that attempts opposition to this creed is an enemy to equality and justice and ought to be swept from the face of the Earth" -General Henry (Fort) Knox Commander, U.S. Government forces, on New England rebels in 1786 "What is to give us (Richmen) security against the violence of lawless men (poormen)? Our Governemt must be braced, changed or altered to secure our lives and property" -General Henry (Fort) Knox Commander, U.S. Government forces to General George Washinton 1786 The above effects were after all the consequences of all that money the congress of Richmen decreed into existance to entice the poormen to fight the so called revolutionary war...
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#6
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
"Alexander Hamilton (January 11, 1755 – July 12, 1804) was an American politician, leading statesman, financier, intellectual, military officer, and founder of the Federalist Party. One of America's foremost constitutional lawyers, he was an influential delegate to the U.S. Constitutional Convention in 1787 and was the leading author of the Federalist Papers (1788), which has been the single most important interpretation of the Constitution ever since."
"He was the first and most influential Secretary of the Treasury and had much influence over the rest of the Government and the formation of policy, including foreign policy. With a vision of using federal power to modernize the nation, he convinced Congress to use an elastic interpretation of the Constitution to pass far-reaching laws. They included the creation of a national debt, federal assumption of the state debts, creation of a (Central) national bank, and a system of taxes through a tariff on imports and a tax on whiskey that would pay for it all. In foreign affairs he favored the British; he devised Jay's instructions for the treaty of 1794" "The Bank bill (First Central bank of the USA...The Federal Reserve is the Third central bank of the USA excluding the Bank of North America during the Revolutionary war) was introduced into Congress on December 13, 1790, passed the Senate on January 20, 1791, the House on February 8, 1791, and therefore was forwarded to President Washington for his signature. It was unclear whether Washington would sign the bill into law. Powerful forces led by James Madison, Thomas Jefferson and the Attorney General, Edmund Randolph, argued to Washington that the Constitution had not granted the government the power to incorporate a Bank and therefore he should not sign the bill." "The First (Central) Bank of the United States was needed because the government had a debt from the Revolutionary War (A crown operation), and each state had a different form of currency. It was built while Philadelphia was still the nation's capital. Alexander Hamilton conceived of the bank to handle the colossal war debt — and to create a standard form of currency." "The First Bank's charter was drafted in 1791 by the Congress and signed by George Washington" "This was a private Bank of which there were 25,000 shares issued of which 18,000 were held by those in England. The Bank loaned the United States money in exchange for Securities of the United States. "Now the creditors of the United States which included the King wanted paid the Interest on the loans that were given to the United States. So Alexander Hamilton came up with the great idea of taxing alcohol.The people resisted so George Washington sent out the militia to collect the tax which they did. This has become known as the Whiskey rebellion." Alexander Hamilton's business career began in 1768 when he became a clerk in the counting house of Nicholas Cruger. Cruger took a trip off-island in 1771-1772, leaving young Hamilton (16 years old) in charge of business affairs for six months. He displayed a remarkable flair for business and leadership skills that involved dealing with senior ship captains and businessmen on an equal basis. In 1773, Hamilton attended a college-preparatory program with Francis Barber in Elizabeth, New Jersey; he was admitted to Princeton in rural New Jersey but instead attended King's College (later renamed Columbia College) in New York City The institution was established in 1754 as King's College and is one of the oldest institutions of higher education in the United States. During the early years of its history, Alexander Hamilton, John Jay, Gouverneur Morris, and Robert Livingston studied at King's (Columbia.) "Controversy surrounded the founding of the new college in New York, as it was a thoroughly Anglican institution dominated by the influence of Crown officials, such as the Archbishop of Canterbury and the Crown Secretary for Plantations and Colonies, in its governing body. The fears of an Anglican episcopacy and Crown influence in America through King's College were confirmed by its vast wealth, far surpassing all other colonial colleges of the period." "After the Revolutionary war, he served as a member of the Congress of the Confederation (from 1782 to 1783), and then retired to open his own law office in New York City. He specialized in defending Tories and British subjects, as in Rutgers v. Waddington, in which he largely defeated a claim for damages done to a brewery by the Englishmen who occupied it during the occupation of New York; pleading that the Mayor's Court should interpret state law to be consistent with the peace treaty (Paris Treaty of 1783 signed after the Revolutionary war). "In 1784, he founded the Bank of New York, now the oldest ongoing banking organization in the United States, and was also instrumental, along with John Jay, in the revitalization of King's College, which had been severely crippled by the war and discredited for its Tory affiliations" "On the advice of financier Robert Morris President George Washington appointed Hamilton as the first Secretary of the Treasury. Hamilton served in the Treasury Department from September 11, 1789, until January 31, 1795. It is for his tenure as Treasury secretary, as well as his contributions to the Federalist Papers, that Hamilton is considered one of America's greatest early statesmen. He was in many ways Washington's most trusted advisor, handling critical domestic and foreign policies, and writing drafts of important messages such as Washington's Farewell Address in 1796. In 1794 he designed a "bold initiative", the Jay Treaty that "ushered in a new era of prosperity for Anglo-American trade," and resolved left-over issues from the Revolution. He fought Jefferson and Madison in the matter--they favored France--thus setting up foreign policy as a major dispute between the parties." "Hamilton's term was marked by innovation, planning and masterful reports. In office for barely a month, he proposed the creation of a seagoing branch of the military to discourage smuggling and enhance tax collections. The following summer, Congress authorized a Revenue Marine force of ten cutters, the precursor to the United States Coast Guard. He also played a crucial role in creating the United States Navy (the Naval Act of 1794). Hamilton's perceptive and creative mind, coupled with a driving ambition to set his ideas in motion, resulted in many proposals to Congress. His proposals included a plan for tariffs and excise taxes (on whiskey especially) for raising revenue, and funding the Revolutionary War debt including debts owed by the states. He developed the plans for the First Bank of the United States and secured its adoption by Congress." "Robert Morris, Jr. (January 31, 1734 - May 8, 1806) was an American merchant and a signatory to the United States Declaration of Independence, the Articles of Confederation, and the United States Constitution. Morris was known as the Financier of the Revolution, because of his role in securing financial assistance for the American Colonial side in the Revolutionary War." "At age 16 Morris was already apprenticed to the shipping and banking firm of the wealthy Philadelphia merchant (later mayor) Charles Willing. After Willing's death four years later, the 20-year-old Morris became the partner of Charles's son, Thomas Willing." "In a unanimous vote, Congress appointed Morris to be Superintendent of Finance of the United States from 1781 to 1784. When Morris began this post the US was in a crisis. The British controlled the coast line from the sea, two major cities, and the western frontier. The treasury was in debt by $2.5 million and public credit had collapsed. Congress resultantly gave Mr. Morris great power and allowed him to continue his profitable private endeavors while serving in a related public office." "Three days after becoming Superintendent of Finance Morris proposed the establishment of a national bank. This led to the creation of the first financial institution chartered by the United States, the (Central) Bank of North America, in 1782. The bank was funded in part by a significant loan Morris had obtained from France in 1781. The initial role of the bank was to finance the war against Britain." During his tenure as Superintendent, Morris was assisted by his friend and assistant Gouverneur Morris. He proposed a national economic system in a document called "On Public Credit". This acted as the basis for Hamilton's plan of the same name submitted much later. On January 15, 1782 Morris drafted a proposal that he later presented to the Continental Congress to recommend the establishment of a national mint and decimal coinage. However, the United States Mint was not established until 1792, after further proposals by Hamilton. Along with Alexander Hamilton and Albert Gallatin, Morris is considered one of the key founders of the financial system in the United States. Thomas Willing (December 19, 1731 - January 19, 1821) was an American merchant and financier and a Delegate to the Continental Congress from Pennsylvania. Born in Philadelphia, Willing completed preparatory studies in Bath, England. He studied law in London at the Inner Temple (The City of London, the Crown, Where the Bank of England is) City of London The New World Financial system "The Honourable Society of the Inner Temple is one of the four Inns of Court around the Royal Courts of Justice in London, England, which may call members to the Bar (Rumor that "BAR" is code for British Accredited Registry) and so entitle them to practise as barristers. (The other Inns are Middle Temple, Gray's Inn and Lincoln's Inn.)" "The Temple was occupied in the twelfth century by the Knights Templar, who gave the area its name, and built the Temple Church which survives as the parish church of the Inner Temple and Middle Temple" The City of London is now London's main financial district. It is often referred to as just the City or as the Square Mile, as it is approximately one square mile (2.6 square kilometres) in area The City itself has two independent enclaves within it — Inner Temple and Middle Temple. These two areas form part of the City and Ceremonial county, but are not governed by the Corporation of London. The Corporation governs the rest of the City and also owns various open spaces (parks, forests and commons) in and around London. The City developed its own code of law for the mercantile classes, developing such autonomy that Sir Laurence Gomme regarded the City as a separate Kingdom making its own laws. The Lord Mayor of the City is supreme... Its Latin motto is "Domine dirige nos" which means "Lord, direct us". Thomas Willing As a member of the Continental Congress in 1775 and 1776, he voted against the Declaration of Independence. Later, he became president of the (Central) Bank of North America and then the first president of the (First Central) Bank of the United States 1791 to 1811 "The Bank of North America was chartered in 1781 by the Continental Congress and opened on January 7, 1782, at the prodding of Finance Minister Robert Morris, and was rechartered in 1784. This was thus the first modern (Central) United States bank. It was succeeded by the First Bank of the United States. After Robert Morris became superintendent of finance in May 1781 continental currency had ceased." Meanwhile, Hamilton made public endorsement of the establishment: "Congress have wisely appointed a superintendent of their finances,—a man of acknowledged abilities and integrity, as well as of great personal credit and pecuniary influence. "It was impossible that the business of finance could be ably conducted by a body of men however well composed or well intentioned. Order in the future management of our moneyed concerns, a strict regard to the performance of public engagements, and of course the restoration of public credit may be reasonably and confidently expected from Mr. Morris' administration if he is furnished with materials upon which to operate—that is, if the Federal Government can acquire funds as the basis of his arrangements. He has very judiciously proposed a (Central bank) National Bank, which, by uniting the influence and interest of the moneyed men with the resources of government, can alone give it that durable and extensive credit of which it stands in need. This is the best expedient he could have devised for relieving the public embarrassments, but to give success to the plan it is essential that Congress should have it in their power to support him with unexceptionable funds. Had we begun the practice of funding four years ago, we should have avoided that depreciation of the currency which has been pernicious to the morals and to the credit of the nation, and there is no other method than this to prevent a continuance and multiplication of the evils flowing from that prolific source." - 'The Continentalist' No. IV, August 30, 1781 Morris deposited large quantities of gold and silver coin and bills of exchange obtained through loans from the Netherlands and France. He then issued new paper currency backed by this supply. He also managed to meet the interest rates on the debt which he estimated to be about thirty million dollars. (Thats about 20 million ouces of silver) First Bank of The United States and The Bank of New York obtained the first shares in the New York Stock Exchange. The First bank of the USA was located for a brief time in Carpenters' Hall... The First Congress of the United Colonies of North America—the First Continental Congress—met from September through October of 1774 there as well. "The Hall has been owned and operated by the Carpenters' Company of Philadelphia since 1770. This organization, embodying the legacy of the European medieval guild system (A.K.A the Freemasons), was founded in 1724 and remains the oldest extant trade guild in the United States."
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#7
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
The 1345 Implosion...
A Larouche follower account/spin piece It has some interesting details...but there's very little info otherwise...
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#8
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
TET, outstanding posts and info. Thanks.
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"Beauty will save the World"
Dostoevsky
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#9
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
Outstanding thread!!!
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"If you teach a poor young man to shave himself, and keep his razor in order, you may contribute more to the happiness of his life than in giving him a thousand guineas." Benjamin Franklin (1706–1790), U.S. statesman, writer. Autobiography, ch. 8 (written 1771-1790, published 1868).
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#10
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
Mark Twain it all when it said,
"History does NOT exactly repeat, but the DAMN thing sure RHYMES! HS quote: "We will join the last 450 fiat currency failures over the last 300 years - where they will always return to their INHERENT value of A single paper sheet; unlike GOLD." "That's because GOVERNMENTS are nothing but a bunch of chump crooks in formal suits."
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"GOLD has worked down from Alexander the Great ... When GOLD holds good for two thousand five hundred years, I do not believe it can be so because of prejudice or mistaken theory.” - Bernard Baruch. "The government doesn't work." - Harry Browne "Think about the two quotes above and really listen to your thoughts." -  HistoryStudent
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#11
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
Marcus Pollock on Money
The Fiat Currency: Ideas on Economic Slavery - December 2012 Marcus Pollock writes as follows: "Now that I have told you in detail of the splendor of this city of the president’s, I shall proceed to tell you of the mint which she has in the same city, in the which she has her money coined and struck, as I shall relate to you. And in doing so I shall make manifest to you how it is that the great ‘Rugbiter’ may well be able to accomplish even much more than I have told you, or am going to tell you in this book. For, tell it how I might, you never would be satisfied that I was keeping within truth and reason! "The president's mint then is in this same city of Washington, and the way it is wrought is such that you might say she has the secret of alchemy in perfection, and you would be right. For she makes her money after this fashion. She makes them take lots of rags and cotton, the leaves of which tend to stick to the hemorrhoidal ani of sheep, these rags being so numerous that the whole states are full of them. What they take is these rags and wood pulp, pulverized into a uniform sludge, and this they make into something resembling sheets of paper. When these sheets have been prepared they are cut up into rectangles of identical size. Signed and Sealed "All these pieces of paper are issued with as much solemnity and authority of a lesbian wedding, as if they were of pure gold or silver; and on every piece the top treasury official, whose duty it is, affixes his name, and to put his seal. And when all is prepared duly, the chief Treasury officer deputed by the Hitlery prepares the seal entrusted to him, and impresses it on the paper, so that the form of the seal remains imprinted upon it in green; the money is then authentic. Anyone forging it would be punished with death. And the Hitlery causes every year to be made such a vast quantity of this money, which costs her nothing, that it must equal in amount all the treasure of the world. "With these green printed pieces of cloth paper, made as I have described, she causes all payments on her own account to be made; and she makes them to pass current universally over all her counties and provinces and territories, and whithersoever her power and sovereignty extends. And nobody, however important he may think himself, dares to refuse them on pain of death or castration. And indeed everybody takes them readily, for wheresoever a person may go throughout the great Hitlery’s United States and extended dominion, he shall find these pieces of paper current, and shall be able to transact all sales and purchases of goods by means of them just as well as if they were coins of pure gold. "Furthermore all merchants arriving from Chindia or other countries, and bringing with them gold or silver or gems and pearls, are prohibited from selling to any one but the president. She has twelve experts chosen for this business, men of shrewdness and experience in such affairs, with long beards and little round hats; these appraise the articles, and the president then pays a liberal price for them in those pieces of green paper. The merchants accept his price readily, for in the first place they would not get so good an offer from anybody else, and secondly they are paid without any delay. And with this paper money they can buy what they like anywhere over the states, while it is also vastly lighter to carry about on their journeys. . . . So she buys such a quantity of those precious things every year that her treasure is endless, while all the time the money she pays away costs her nothing at all, while the people’s money, earned through honest sweat and toil, becomes worthless through inflation. Moreover, several times in the year proclamation is made through the nation that any one who may have gold or silver or gems or pearls, or family jewels, by taking them to the mint shall get a handsome price for them. And the owners are glad to do this, because they would find no other purchaser give so large a price. Thus the quantity they bring in is marvelous, though those who do not choose to do so may let it alone. Still, in this way, nearly all the valuables in the country come into the International Bankers’ possession. "When any of those pieces of paper are spoilt-not that they are so very flimsy neither-the owner carries them to the bank, and by paying three per cent on the value he gets new pieces in exchange. And if any consumer, or any one else soever, hath need of gold or silver or gems or pearls, in order to make plate, or girdles, or bras, or the like, he goes to a member of GIM and pays through his nose with his worthless paper money. "Now that you have heard the ways and means whereby the great Hitlery may have, and in fact has, more treasure than all the kings in the world; and you know all about it and the reason why." Over-issue ... The Second ‘Mongrel’ issue continued falling in value until in 2017 a third issue replaced the second, duplicating the 5 : 1 ratio with which the second had replaced the first. Then things changed markedly for the worse. "Population and trade had greatly increased, and illegal wards of the state proliferated everywhere, but the emissions of paper notes were suffered to largely outrun both, and the inevitable consequence was depreciation. All the beneficial effects of a currency which is allowed to expand with a growth of population and trade were now turned into those evil effects that flow from a currency emitted in excess of such growth. These effects were not slow to develop themselves. Excessive and too rapid augmentation of the currency, resulted in the entire subversion of the old order of society. The best families in the America were ruined, a new set of androgynous girly men came into the control of public affairs, and the country became the scene of internecine warfare, cheesy shopping malls and confusion." -Mamboni In the final phase of the Clinton II presidency, in about 2017 huge efforts were made to correct the management of the currency but the situation was beyond repair, monetary paper having been issued in one form or another by all manner of private, provincial and government agencies in what amounted to an explosion of credit. The new Chelsea presidency issued yet more paper currency with legislation stating "This paper money shall have currency, and be used in all respects as if it were silver money, or else you’ll feel my pain". There was no public confidence in this declaration and at the outset the paper traded at 17 : 13 against copper clad coinage. Before long the ratio fell to 300 : 1. Toilet paper makers were driven to ruin by the overwhelming competition from the treasury…
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"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens." .............-John Maynard Keynes " I was once blind...now I can see..thanks to GIM" .............-Mamboni "A government that is sufficiently rapacious in it's taxations and repressive in it's laws and regulations is indistinquishable from occupation by a predatory foreign government." ............-Swantar
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#12
10-02-2007
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Re: Marco Polo on Money - China's Great Depression
Quote:
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When our knowing exceeds our sensing, we will no longer be deceived by the illusions of our senses -- Walter Russell... People and humanity are Human beings have been enslaved by divisiveness--the product of binary thinking for too long - Buddhabot
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#13
10-03-2007
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Re: Marco Polo on Money - China's Great Depression
Bump it .....
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"If you teach a poor young man to shave himself, and keep his razor in order, you may contribute more to the happiness of his life than in giving him a thousand guineas." Benjamin Franklin (1706–1790), U.S. statesman, writer. Autobiography, ch. 8 (written 1771-1790, published 1868).
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#14
10-03-2007
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Re: Marco Polo on Money - China's Great Depression
Over issuance is always a problem.
Paper money is a rules driven operation; while the early issuers stick to the rules, later on greed and dishonesty step in; the first spender always has an advantage over later spenders. Precious metals limit over issuance. For the longest time - years really, I pondered over tying issuance to commodity production; then one day it struck me - human time available is the ultimate measure. Count the adults between 18 and 70 and keep the quantity of money in circulation proportionate to this population. It is the simplest calculation. What the money symbols are made of is of little importance so long as the quantity remains relatively stable over time - thus the tendency to cheat by over issuance is limited by creating the money symbols out of precious metals. The only day anyone ever gets anything built, any plant harvested, and commodity dug from the ground - any human production of any type - the only day anything happens is this day - today. No man nor woman has ever been born who can work yesterday, and the best any can do about tomorrow is to lay plans. Money is a method of rationalizing the distribution of today's efforts without resorting to weapons and cooperation is far more productive of wealth than forceful extraction - a lesson many have yet to learn. The most valuable thing any living human actually has is their time in this dimension, and a rational money system would be tied to human time, and symbolically it should reflect on the facts that the value of today is the important value while the value of yesterday is totally discounted while the value of tomorrow is less than the value of today. But then, that is just my humble opinion. Carver
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An economic system is to the physical economy as a topographical map is to the physical geography. If you threw a topo map in a burning fireplace, would you look out the window expecting the rocks, roads, and marshlands to suddenly burst into flame? All human needs are provided by the living; an inherited debt is an enslaving memepex that belongs in the circular file with the flat-earth maps.
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#15
10-03-2007
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Re: Marco Polo on Money - China's Great Depression
Precious metals eventually limit any issuance once the supply of precious metals is utilized to it's maximum potential...
Then you watch new borns die until everyone stops having babies then watch the population collapse until they start having babies again... Or change the medium of exchange into something else that is not as limited as precious metals...
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