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Steven Yates - Our Money System

Steven Yates - Our Money System

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Published by Juan del Sur
Money has become a national religion of sorts. People and institutions worship it, like a surrogate god. They have little choice. No one has enough of it; thus the need to grasp more of it or budget very carefully what we have stands at the center of our lives and our institutions. Money issues encircle us, whether we like it or not. This includes those being paid far better than I am. We are not talking about people who take vacations every weekend, or eat at swanky restaurants every night, or who buy a new SUV every year.

Frankly, I don’t know anybody who does that. I am starting to wonder if such people really exist, or if they are part of the edifice of lies.

The irony is, our money system is the biggest lie of all. It isn’t really money at all, but pieces of paper with numbers and the phrase legal tender printed on them.

This essay is about our money system, its obvious problems, and a few suggestions for surviving our money crises.
Money has become a national religion of sorts. People and institutions worship it, like a surrogate god. They have little choice. No one has enough of it; thus the need to grasp more of it or budget very carefully what we have stands at the center of our lives and our institutions. Money issues encircle us, whether we like it or not. This includes those being paid far better than I am. We are not talking about people who take vacations every weekend, or eat at swanky restaurants every night, or who buy a new SUV every year.

Frankly, I don’t know anybody who does that. I am starting to wonder if such people really exist, or if they are part of the edifice of lies.

The irony is, our money system is the biggest lie of all. It isn’t really money at all, but pieces of paper with numbers and the phrase legal tender printed on them.

This essay is about our money system, its obvious problems, and a few suggestions for surviving our money crises.

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Categories:Business/Law, Finance
Published by: Juan del Sur on Sep 29, 2009
Copyright:Attribution Non-commercial

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10/14/2012

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Steven Yates – Our Money SystemPage 1 of 14
OUR MONEY SYSTEM
PARTS 1 - 3
 Author:
Steven Yates
 Date: December 28, 2005http://www.newswithviews.com/Yates/steven12.htm 
PART 1 Your Dollar Bill Is a Lie!
 
"You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out.If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning."
--Andrew Jackson, 1828 (to a group of investment bankers trying to persuade him to renew their charter)Last week while undertaking the Web surfing that is part of my daily routine I ran across anarticle by one John Kaminski, an online author I hadn’t previously encountered (see:http://www.rense.com/general67/kam3.htm).It gave me a lot to think about.Kaminski’s topic is the prevalence of lies in today’s culture and especially in today’s media.Lies related to the 9/11 attacks, for example; Kaminski is one of those folks who believessomeone in our government knew they were coming. The truth, if truth this be, would be very costly to this someone—possibly to the Bush regime itself.But this is just tangential to Kaminski’s main point: lies are where the money is. "There’ssimply no money in the truth," he writes. "That’s why we stopped getting it. Yet, you can’t tellus money doesn’t matter when we’re all very hungry. If you don’t have any money, preaching what you think is the truth is definitely not the way to get it. Which is probably why I don’thave any." Amen to that! I don’t have any, either! I am probably as close to broke, living from check tocheck, as Kaminski implies that he is!I have been writing things down for as long as I can remember. My parents tell me I wasdoing it when I was a small child. Most of my efforts are directed at telling the truth, foranyone who happens to be interested in hearing the truth. I’ve occasionally experimented with fiction. I’ve long wanted to write a novel, especially a science fiction novel, but (so far) ithasn’t jelled. Not that I’ve had the time to make it jell, between my two teaching jobs (fourclasses in all), work on my next nonfiction book (a expansion of my surprisingly popularseven-part article
"The Real Matrix"
(http://www.newswithviews.com/Yates/steven.htm)done last year for NewsWithViews.com) and work on these articles. I don’t regard myself as
 
Steven Yates – Our Money SystemPage 2 of 14
an entertainer but as a truth-teller. The science fiction novel—if it ever gets written—willattempt to communicate something about the human condition, just as Aldous Huxley’sBrave New World communicated something about the human condition—namely, thedangers of technological social engineering in the hands of those who regard human beings ascattle.I don’t anticipate that any work of mine will sell as many copies as Huxley’s did, or becomesome kind of classic. This is a different culture now—more materialistic and sound biteoriented than his was, more manipulated via technology and media, and far less appreciativeof anything mentally demanding. As Charlotte Iserbyt would say, far more dumbed down (seeher phenomenal “
The Deliberate Dumbing Down of America
). For all practicalpurposes,
Brave New World
is here.Money has become a national religion of sorts. People and institutions worship it, like asurrogate god. They have little choice. No one has enough of it; thus the need to grasp more of it or budget very carefully what we have stands at the center of our lives and our institutions.Money issues encircle us, whether we like it or not. This includes those being paid far betterthan I am. We are not talking about people who take vacations every weekend, or eat atswanky restaurants every night, or who buy a new SUV every year. Frankly, I don’t know anybody who does that. I am starting to wonder if such people really exist, or if they are partof the edifice of lies.The irony is, our money system is the biggest lie of all. It isn’t really 
money 
at all, but pieces of paper with numbers and the phrase legal tender printed on them.Take a dollar bill from your wallet—if you have any dollars left after paying your bills and yourtaxes—and look at it closely. At the very top you’ll see the phrase
Federal Reserve Note
. Then, beneath that,
The United States of America
. In small print:
This note is legal tender for alldebts, public and private
. Beneath George’s picture, at the bottom:
One Dollar
.Long ago, when our fiat money was backed by gold, you would have seen different things.Imagine your grandfather undertaking the same project, examining a dollar from his pocket.Suppose the year was 1910. The dollar would not have said
Federal Reserve Note
becausethere was no Federal Reserve. What he would have been looking at would have been a real,honest-to-God dollar!Just the name
Federal Reserve
is a twofold lie. The Federal Reserve is not federal and doesnot have any reserves. Many people believe the Federal Reserve is part of the federalgovernment. It is not. It is a cartel of private central banks, many of them foreign-owned. Working in tandem with the U.S. Treasury Department, the Federal Reserve is a key institution of the Euro-American power elite. It has never been audited, nor had its booksscrutinized by ordinary mortals.For a startling and very detailed account of the origin and history of our banking system, Irecommend G. Edward Griffin’s treatise
The Creature From Jekyll Islan
.”
You mightalso read Murray N. Rothbard’s short work 
The Case Against the Fed”
for an incisiveargument why a genuinely free economy does not need a central bank.
 
Steven Yates – Our Money SystemPage 3 of 14
But back to your grandfather’s dollar. What would he have seen on it? Among other things,the phrase
 Will pay to bearer on demand just above One Dollar
. This indicated that the slipof paper wasn’t really the bearer of value; it was a receipt indicating that the bank had in itsrepository a dollar’s worth of gold that would be redeemed at his demand.This phrase disappeared from the dollar. Not right away, of course. If we look at, say, a 1928dollar, the phrase
Federal Reserve Note
will be found at the top and Will pay to bearer ondemand will still be found above
One Dollar
. The Federal Reserve had only begun to changethe nature of money. For at an appropriate place in between the two we find the statement,
Redeemable in gold on demand at the United States Treasury or in gold or lawful money atany Federal Reserve Bank.
 But recently I ran across a representation of a 1929 dollar. This last phrase has changed. Wesee,
Redeemable in lawful money of the United States at United States Treasury or at theBank of Issue
. The reference to gold is gone! There is no mention of legal tender on any of these. Now consider a 1934 dollar. The 1934 dollar has become legal tender: It says,
This noteis legal tender for all debts public and private and is redeemable in lawful money at theUnited States Treasury or at any Federal Reserve bank.
 Interestingly, this was right after the stock market had crashed and the country had spiraleddown into the Great Depression (the best account of which is still and will probably always beRothbard’s “
 America’s Great Depression
”).Now compare that description with the dollar you took out of your wallet—again, if you hadone. Your dollar bill says nothing about
redeem-ability 
because it can’t be redeemed foranything. It is a note to pay nothing. The phrase
 Will pay to bearer on demand
is gone.Having been a Watergate-era teenager, I am old enough to recall when this phrasedisappeared. It was 1971, the year President Richard M. Nixon took the money systemcompletely off the gold standard and said, "We are all Keynesians now." The reference is toJohn Maynard Keynes. Many economists consider Keynes to have been the greatesttheoretician of their trade who ever lived, which says more about them than it does aboutKeynes. Keynes’s own words, back in 1920, testify to ulterior motives:
"There is no subtler, nosurer means of overturning the existing basis of society than to debauch the currency. Theprocess engages all the hidden forces of economic law on the side of destruction, and does itin a manner which not one man in a million is able to diagnose."
 Keynes, a member of the
Fabian Society 
(a socialist organization originating in GreatBritain in the early 1880s) and later a member of the
Council on Foreign Relations(CFR)
, despised the
laissez faire
system that had built this nation in its early history, theremnants of which gave rise to the relative prosperity of the American middle class.
Laissez-faire
economics is incompatible with centralization and control, so the international bankers set out to sabotage and destroy it. They did so by destroying, little by little, the valueof its currency. Mainstream twentieth century economics rationalized this destruction andsurrounded the rationalization with an edifice of impenetrable mathematical technique.Economists immersed themselves in what historian and philosopher of science Thomas S.Kuhn would later call a paradigm (in his
The Structure of Scientific Revolutions”
).
  Almost no trained economists would recognize the truth. Non-economists would be so put off 

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