Monetary Reform Talk, 4 09, Part 3- Lincoln's Greenbacks

Watch Joe Bongiovanni describe Lincoln and his experiment with debt-free money, in his Montpelier VT presentation "America's Debt Crisis and the Need for Monetary Reform", April 8, 2009. Learn more at EconomicStability.org.

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Tags:

• debt-free money
• Lincoln
• greenbacks
• monetary reform
• Elbridge Spaulding
• Federal Reserve
• dollar
• monetary policy
• fiat currency
• debt banking
• june 2009

[joebhed]

@NickF1227

Money is a legal construct of a sovereign people. These people have given the money-creation power to the government. The government has given it to the private bankers who have ruined this country, and we want it back.

Simple as that.

For the Money System Common.

[joebhed]

@NickF1227

No, of course not.

Your comment is a little off base.

Congress can spend the amount of money that will not cause inflation or deflation.

Is that absurd?

But, yes, certainly a government monopoly in money-creation.

What, pray-tell, is wrong with that?

Thanks.

[NickF1227]

Would still exist*

[NickF1227]

So your theory is that congress can spend any amount of money it wants and it will not inflate the currency if the currency issued by the treasury rather than the fed? That is absurd. The only difference is that we would not be paying interest to the private banking cartel, all the other problems with a centralized monopolistic control of money

[DCUPtoejuice]

No debt created is key. Even though government spending would inflate the currency and hence tax everyone a flat rate, money as interest would not be constantly siphoned off to banks until they rule us again.

[DCUPtoejuice]

@NicosMind they do that regardless and add an interest to that to pay the banks for nothing!

[Faztlan]

End the federal reserve. The University of TEXAS

[EconomicStability]

The power to CREATE should be the opposite of the power to inflate.

What is the money power?

To whom does it properly belong?

When the Colonies issued their own currencies(money-supply) they did not inflate or deflate the currency.

The same is true with the Continental Congress - the issuance was according to the mandate. Only counterfeiting inflated the currency.

When Congress authorized Greenback $USNs, the exact number were printed and exchanged.

Private issuance = inflation/deflation.

[NicosMind]

If you put government in charge of their own money government would only abuse that. Namely thru the ultimate stealth tax of inflation.

This is how governments finance wars and other projects instead of being honest thru their taxes.

There should be no ability to inflate, so that governments and banks cant secretly grow and seize power.

End fractional reserve, and keep banks small and constraint. Banks are to grease the wheels of economies and shouldnt be major leaders!!