All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation. ~ John Adams
Aside from those who don’t have much of it, money is one of those things people take for granted. People open their wallets, or purses, and pull out a couple pieces of paper/clothe and expect that they will be able to exchange it for a certain amount of goods or services. But what is that stuff you carry around and use to make purchases? Money you say? I don’t think so.
The Sixth Edition of Bouvier’s Dictionary of Law defines money as: gold, silver, and some other less precious metals. What you hold in your wallets and purses is currency; and you should at least know a basic history of how it came to replace real money.
Money, if it is anything, is simply a tool used in the exchange of goods or services. As long as that tool, or medium, is commonly accepted as currency the system works. In olden times a notched wooden stick, called a Taro Stick, was used; with the entire stick being worth a certain value. When you went to make a purchase a corresponding number of segments of the stick would be snapped off equaling the cost of the good or service. Those in turn could be used to purchase goods or services by whoever possessed them.
But most of the time it was gold or silver coins that constituted the medium by which goods or services were paid for. The problem with these mediums of exchange is twofold. First they are heavy in large quantities. Secondly, they are also bulky. The way around this was that someone would take possession of them and issue a certificate which was redeemable for the value of the coins, or bullion they held for you. If you wanted to purchase something you simply exchanged the paper for the good or service, and then that person could redeem that paper for real money. This is the origin of the first banks; simply those who held the actual money, while issuing certificates to be used in business transactions and which were redeemable for that money.
Under this type system the paper, or currency, was tied to a specific amount of real money which helped keep its value constant. This is what was known as either a gold or a silver standard; with the paper being worth a specific amount of either gold or silver.
Although I have never physically seen, or held one, that was the same way our economy worked up until just after my birth when gold and silver certificates were phased out of use. However, it wasn’t until the 70’s that President Richard Nixon severed the tie between the paper currency and the gold which it represented.
Prior to that, the U.S. Treasury could only print, (legally anyway), only as many of these gold or silver certificates as was backed up by gold or silver held in reserve. This connection between the real money, and the paper which served as its substitute, kept inflation low and the value of the paper money relatively constant. Once Nixon took us off the gold standard the treasury was free to print as much paper money as the government needed.
This is the cause of inflation; not the cost of goods or services going up, (although that has happened to a certain extent). Primarily though inflation is due to the simple fact that there is simply much more paper money floating around in our economy than in years past. If you look at an ounce of gold or silver, each buys pretty much the same as they have going all the way back to when our nation was first founded. The value of gold and silver have remained constant; it is the fact that it takes more of the paper currency to buy an ounce of gold or silver which is the true nature of inflation. Paper currency, or money as you call it, has simply lost most of its value.
These things we call dollar bills are worthless and we only accept them because they have the full faith and backing of our government. But what good is backing when they are backed only by words and nothing of real intrinsic value? This is what is known as a fiat currency; only having value because our government declares it to have value. Even our coinage is no longer made of gold, silver, or copper.
The Constitution grants Congress the power to coin our nation’s currency, or money; “The Congress shall have power to… To coin money, regulate the value thereof…” In 1792 Congress passed the first Coinage Act; establishing the United States mint to fulfill their authority to coin money, and regulate the value thereof.
There is a principle in both Constitutional and administrative law which states, “delegata potestas no potest delegari” or “no delegated powers can be further delegated.” As government draws its power and authority from the people, they are, not only delegated powers, but limited to those powers contained within Article 1, Section 8 of the Constitution.
While Congress does have the authority to coin our money and regulate its value, they do not have the authority to give that power to anyone else; particularly a private bank whose only ties to government is the fact that its Chairman is chosen by the President. I don’t care what the necessary and proper clause says, or the Supreme Court for that matter, it is NOT necessary that our monetary system be run by a group of private bankers.
Had you read your Bibles you would remember the time Jesus went to the Temple and was outraged at the money changers who were exchanging the Roman currency for a mode of payment that was acceptable to their beliefs. They would charge exorbitant exchange rates, basically robbing those who came to the Temple to worship. This is what caused Jesus to say, “My house shall be called the house of prayer; but ye have made it a den of thieves.”
These money changers have existed throughout history, seeking to gain control over people by controlling their monetary supply. James Madison, so-called Father of the Constitution and 4th President of the United States once said, “History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance.”
Andrew Jackson, our 7th President is famous for his battle against the central bankers using the words of Jesus by calling them a den of thieves and saying he would rout them out. James Garfield, our nation’s 20th President also said, “Whoever controls the volume of money in any country is absolute master of all industry and commerce.”
And who controls our monetary system, supply and regulates its value? Why The Federal Reserve; a privately owned bank, or money changers as Madison, Jefferson, Jackson and others would have called them.
The value of what you call money is controlled and manipulated by these men; its spending power having been diminished by a flooding of our economy with this worthless fiat currency. Through a convoluted process what you call money is created out of thin air as notes of debt. It no longer has any value of its own; rather it ties you to the debt that created it as collateral. Everything you have purchased using this fiat currency is also collateral on that debt; your house, your vehicle, and all the other items you routinely purchase using it.
By the dual taxation of inflation and the income tax you have been rendered from a free man to a serf who works solely to enrich a small group of men who control not only our monetary system, but our government as well. For government today spends far more than it takes in from taxes and the only way it can continue to operate is to borrow money. If our government were to make any effort to eliminate the control these men have over them, or our monetary system they could plunge our country into a depression that made the one in the late 1920’s look like a walk in the park.
It’s bad enough that what you carry around in your wallets and purses is of no value; but they are trying to eliminate physical money. Have you ever noticed, or perhaps you are one of them, that hardly anyone uses cash anymore to buy things? Debit cards are routinely used to make even the smallest of purchases these days.
I remember when people rarely used checks; preferring to pay with cash. Then slowly, as credit cards became more easily obtainable and credit less stigmatized I began noticing that more and more businesses were no longer accepting checks as a form of payment; or they were immediately withdrawing the funds from your account upon verification of the checks authenticity.
Nowadays, the vast majority use debit cards, or worse, credit cards to make their purchases. So on top of being tied to the national debt they are also accumulating huge sums of personal debt. How many of you can claim to be 100% debt free; I mean aside from your portion of the National Debt that is. If you have a mortgage, a car payment, a credit card balance you are a slave to that debt.
Have you ever attempted to purchase something, only to have your debit card rejected for insufficient funds, or even technical difficulties? Imagine if for some reason you were completely restricted from purchasing things because your access to your money was cut off.
There has been a slow, but steady progression in this country from real money to a completely moneyless society. I foresee a time in the future when all transactions are made electronically without a penny of actual money, or fiat currency for that matter, ever changing hands.
Whether it be the universal use of debit cards or an RFID implant under their skin. While many would accept something like that gladly; claiming that it simplified things, I would think twice before accepting that as my only means of purchasing or selling goods or services.
You may call me Mr. Tin Foil Hat, but what if you did not like the way your government was doing things and you decided to speak out, protest, or organize an opposition movement? How hard would it be for them to simply turn off your access to the system; cut you off from your money or restrict you from selling anything? They could flip the switch, or make a few entries into a computer and it would be like you no longer existed.
I don’t know about you, but that sounds frighteningly similar to what is written in the Book of Revelations, “And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.”
I just read this morning, in fact it was the inspiration for this entire article, an article about the war on cash. It told of a Swedish woman who had slowly over the course of her life saved a pretty sizeable sum of cash. The thing was, she didn’t keep it in a bank, she kept it in her home. She took her outdated notes to the bank to replace them with those currently in use and the bank refused to issue her replacements. In fact they demanded that she provide receipts for how she had accumulated so much cash.
Think that couldn’t happen here? Think again. Lyndon McClellan was a convenience store/restaurant owner who had saved up a tidy sum of around $107,000. To avoid filing paperwork on his deposits at his bank he kept them under $10,000 each. Yet the IRS deemed his actions suspicious and confiscated all his money.
There has been a war going on against real money since the ink was still fresh on our Constitution. As soon as our system of government went into action Alexander Hamilton was there on behalf of the bankers to influence Washington; convincing him to establish a Central Bank for the United States…much to the chagrin of Thomas Jefferson who opposed the idea of a central bank and large national debt.
Those who control the money supply of a nation control EVERYTHING, including you. They may not tell you directly what to do, but they control your wealth by controlling how much the money you earn purchases.
But fear not, Donald Trump has been elected and will soon be sworn in; and he has promised to make America great again. And if you don’t like Trump; no problem, in a few years the candidate of your choice will get elected and they will make things great again.
When will people, if ever, realize that they are living proof that Einstein was right about what constitutes insanity: Insanity: doing the same thing over and over again and expecting different results.
So, as the TV commercials say; What’s in your wallet?
~ The Author ~
Neal Ross, Student of history, politics, patriot and staunch supporter of the 2nd Amendment. Send all comments to: email@example.com.
If you liked Neal’s latest column, maybe you’ll like his latest booklet: The Civil War: (The Truth You Have Not Been Told) AND don’t forget to pick up your copy of ROSS: Unmasked – An Angry American Speaks Out – and stay tuned – Neal has a new, greatly expanded book coming soon dealing with the harsh truths about the so-called American Civil War of 1861-1865. Life continues to expand for this prolific writer and guardian of TRUE American history.