 Hello, this is Jim Hogue, and we are at the House at Poop Corner. And our guest today is John Root. And we are going to be talking about the creation of money and how that creates sovereignty. And we are going to be talking about another another organization, which is all for that, and it has formed across the country. Hawaii and Alaska, to bring people together who believe in the creation of a common good currency, if you will, or a kind of monetary creation that is outside of the central banks. And in my introduction today, I am going to be explaining why that's such a good idea. And then I will turn the program over to John Root, who will talk about the relationship of his common good currency to the connecting it to this organization called the USA Republic. And you can read about it at USARepublic.info. And you can also read about it on a John Root's wonderful website called MassachusettsRepublic.org. And we'll be mentioning those websites periodically. And if you are watching this on Facebook, then you can probably just reply to me about it. And I can let you know how you can become a member of that organization and how you can contribute to its development. All right, so the first thing I want to do is read to you a little bit about the history of the creation of money in the colonies in the 1700s. And this is a paper by John Ford. He's a friend of mine, and he wrote this several years ago. And it's germane to the conversation that we're having here because it shows the great success of colonial script, which occurred especially in Pennsylvania, also in Massachusetts and in the other colonies. And it explains why the British banks had to shut down colonial script. It was the threat of the good example. And it certainly got their knickers in a twist over there. And they passed the currency act in order to shut it down. So here's what John Ford has to say about this. The history of banking and money and the history of banking and the money cartel in Europe and the U.S. Over the past 400 years is an account of a number of slightly different versions of fleecing the flock through their control of the money supply, interest rates and self-serving politicians. This activity is what leads to the predictable boom and bust cycles that inevitably follow. The only real difference today between Wall Street and their predecessors is their unabashed display of greed and their missionary zeal in converting the disbelievers to the latest dogma of privatization and derivatives training. So what we end up with is a government that is captured by the money cartel. And rather than having the too big to jail banks that are now insolvent be placed into receivership as they should through a congressional mandate and liquidated its government, the municipalities and the people that are going into receivership as they continue to pay tribute to the money cartel. Of course, this was written at the time when the banks had to be bailed out by all of us instead of going into receivership. But as we may recall, it did not always play out this way when the cartel attempted a takeover. One of the earlier attempts at fleecing the flock occurred in the American colonies with the passage of the Currency Act in 1764 that prohibited the colonies from issuing paper currency as legal tender money and ordered them to pay all future taxes in gold and silver coins. And earlier, and by the way, the payment of taxes in any given form of currency is what can strangle an economy if that currency is foreign to the economic activity that is going on or it can be helpful to the currency because it extinguishes the excess money in that currency which could create inflation. That might have been a mouthful for you to swallow, but we'll be getting into that perhaps later. That's the Currency Act, I don't know, all right. An earlier Currency Act, the paper bills of Credit American Colonies Act of 1750 limited the amount of currency the American colonies could produce. This forced the colonies on a gold silver standard that initiated the first phase of the bank wars in America. The monetary experiments that the colonies began in the late 17th century soon convinced them that they were better off printing paper script money to use as a local exchange medium rather than using the crown's gold which they would have had to borrow, hence the web of debt that's been continued ever since. In what was to become one of the most subversive acts in modern history, they did something that really raised the hackles of the European mob. They printed their own money as historian Alexander Del Mar wrote in the History of Money in America, quote, the creation and circulation of bills of credit by revolutionary assemblies coming as they did upon the heels of these strenuous efforts made by the crown to suppress paper money in America were acts of defiance and so contemptuous and insulting to the crown that forgiveness was therefore impossible. There was but one course for the crown to pursue and that was to suppress and punish these actions of rebellion and you all know what that suppression led to. Thus the bills of credit of this era which ignorance and prejudice have attempted to belittle into the mere instruments of a reckless financial policy were really the standards of the revolution. They were more than this they were the revolution itself. So what John and I are going to be talking about today is really no less than a revolution because if you have a revolution without the creation of money being part of it then you really don't have much of a revolution. You look around the world and there are apparently about three countries left that really have sovereign currency and they are of course solid enemies of Wall Street the central banks and the US Congress. That's why Iran is one of the targets. That's why Libya was a target and wiped out. Anyway that's another matter. But I just wanted you to understand that since the time before the Revolutionary War the central bankers have attacked any entity that has tried to become independent financially, monetarily independent. Even before the Bank of England was established in 1694 the Massachusetts Bay colony embarked on a radical course of economics spending bills of credit into circulation that soon built the infrastructure of a local producer based economy from 1723 through 1775. Pennsylvania issued its own paper currency. They engaged in a highly creative monetary experiment where they discovered that the true authority and autonomy of self government is measured in large part by the ability to control the money supply by issuing both bills of credit and interest bearing notes. They directly challenged the European mercantilist debt-based monetary system and proved to the world that the health, wealth, happiness and freedom of a country are dependent upon a sound currency system which Britain already knew which is why they tried to kill it when the colonies created it because obviously they didn't want independent colonies. What's the point of a colony if it's going to be independent? And John further writes, what happened at the Constitutional Convention, this is after the Articles of Confederation regarding the money issue was largely a sellout to the Federalists who perloined the money power that had previously been retained in Article 12 of the Articles of Confederation making bills of credit legal tender. And let us recall that of the original signers of the Declaration of Independence, 16 of them signed the Articles of Confederation whereas only eight who attended the convention only four of those signed the Constitution. In regard to money matters, we treat the Constitution like some kind of inviolable sacred cow but it is really only a Holstein. If we really want to begin to clean up the mess we have gotten ourselves in, then we could begin with Article 1, Section 10 of the Constitution and understand what was lost when we had a precious metals standard foisted upon us in, quote, no state shall coin money, emit bills of credit, make anything but gold and silver coin a tender in payment of debt. And by the way, if Jefferson and Franklin and Thomas Paine and a few other of the non-Federalists had been present, I'm convinced, and so is Ellen Brown and I believe John Rue, that our country would have been a real democracy and a real republic had those three been able to attend that convention because then Hamilton wouldn't have been able to shove the European banking system or overlay the American system with this European system. OK, so and Stevens Arlenga of the monetary modern monetary theory, I interviewed Stevens Arlenga once by the way, and I ended up not following him because he was on a national scale and I was on a state by state scale and so it didn't apply to what I was trying to accomplish. Arlenga suggests we take a look at what he calls the five magic words, no to omit, to emit bills of credit for it was, in fact, these bills of credit that were spent into circulation in the colonies, built the infrastructure for internal trade and commerce and assured a stabilized price level period prior to the American Revolution that has never been matched. These were the bills of credit, the local colonial currencies that Hamilton and his gang axed from the Articles of Confederation in order to pave the way for a central bank modeled after the Bank of England and the fractional reserve debt system of money. We may or may not get to fractional reserve concepts today. I don't think so. What the European money cartel failed to accomplish in 1776 in the colonial revolution, they finally succeeded in doing one hundred and forty years later with the Federal Reserve Act, which took control over the issuance of money and put it into the hands of a private cartel. In the end, the issuance of debt paper from private banks to governments is as Zarlanga comments, nothing short of a license to steal. So with that background on why it is so important for us to change the monetary system, I turned the program over to John Root, who will now hit a home run and drive the bases loaded into home. Excellent. Thank you very much. Yeah, the colonial script history is really fascinating. Benjamin Franklin wrote an essay called The Utility and Necessity of a Paper Currency, in which he described the nature of a sovereign state. So the and what's really interesting is that Gabriel Borat wrote a book on the economics of Lincoln and the two things are the same. Lincoln was really clear that the purpose of government is to create the conditions in which the people can thrive. And Benjamin Franklin was walking down Pine Street in Philadelphia and he noticed all these houses with for rent signs up. And and what's happened in the economy is contracting. He says, very simple, every time gold coin from England comes to Pennsylvania, comes to Philadelphia, it gets sent right back again to buy the goods that we could be producing if we had the money. And that's why he writes this essay on the utility and necessity of a paper currency. So you can when you go when you do a little tour of America, colonial America, you find that all of the great infrastructure that's still there, you know, that you can still see was all built with colonial script. Anyway, there are a number of other things that were going on. One was that the King of England created corporations, companies like the East India Company or the Hudson Bay Company or the what was it called? The Massachusetts Bay Company. And the idea of a company is that the people who are in charge of that company are not liable for the decisions of the company. So the fascinating thing is that on the one hand, you want to be able to take the risk of doing something that could, you know, cause a financial calamity for you or make you incredibly wealthy without the risk. So there's another words, only the money that you put up would be at risk. But on the other hand, that abdication of responsibility is what creates the situation in which you can have a debt based monetary system. It isn't it isn't a reasonable idea unless you are able to escape the liability. So it turns out that the corporate form of government and remember that when the colonists came together in the First Continental Congress and they wrote the Declaration of Independence, they were talking about creating a republic. What is a republic? A republic means a in the in the way that it was intended, it means an association of sovereign states. Every one of those colonies was its own or wanting to become its own sovereign state and it had experienced genuine sovereignty because it was able to issue the money. Massachusetts had a tendency to issue too much money and have inflation, which they learned how to control. Pennsylvania issued most of its money as loans for buying land or starting a company. All of the interest that set absolutely at five percent, all of the interest that went back to the colonial government paid for everything so there didn't need to be any taxes, except on whiskey. There was some sort of religious reason for wanting to hold on to that franchise. Anyway, what I'm getting at is that when the Continental Congress came together and wrote the Articles of Confederation, the idea was that they would create a perpetual union of sovereign states. And the perpetual union of sovereign states would deal with the external to each of the state issue. So national defense or interstate commerce, a few things that needed to be national, including issuing of legal tender. Not that the Articles of Confederation forbade the states to issue their own or to continue issuing colonial script, but rather to create also a national currency. Now, the first thing that of substance after they got themselves organized, the first thing that the Continental Congress did, substantive thing that it did was issue Continentals. And this is really, really important because it was the issuance of Continentals to prosecute the war, to spend, to prosecute the war that gave concrete real evidence that we were, the colonies really were a Continental nation, a sovereign nation. Continentals won the war. At the end of the American Revolution, and I just want to mention that Benjamin Franklin was very clear about what created the American Revolution. It was the Currency Act. It was the depriving the colonies of that essential element of their sovereignty. So after the Currency Act, the money supply shrank by half. And if you can imagine, all of a sudden there's only half as much money. So most of the things that happened that led up to the Revolution after the Currency Act were the people objecting to the foreclosures. And I would be able to pay if I could get the money. There isn't enough money. So they go down in Great Barrington, where I spent most of my life. They went down to the courthouse, they grabbed the judge and they threw him in the river because this is unjust. And one thing that people think is it was the Stamp Act because that was a more visible offense, but it wasn't as effective. And it's also just how the history is then written and what's approved. And the reason that taxation without representation is the way that we understand the Revolution is to get around what everybody knew at the time was the problem of depriving us of our money. So and that's something that's very, very difficult to understand is how much power the banking cartel has. It's just beyond understanding. Whoever is issuing the currency is, in fact, creating the conditions in which we live, what the currency is issued for what you can get credit for, what will be profitable to the banks because banks create all of the money, creates the conditions, the situation that we're in. Now, what I want to get to is that this experience, this immersing oneself in this early history around what it was that allowed the people to say to themselves, we don't need the King. Look at what we have created ourselves out of our own enlightened understanding, the understanding of the Enlightenment. And not only that, but our own industry, our own inventiveness, our own energy and the kinds of relationships that we've created. We don't need the King. The King's protection is actually oppressing us. It's not. And that meant that the only way that you could preserve the experience that people actually had of being able to create the new Atlantis, as as Franklin actually called it, was they the sense that the people are themselves are sovereign. It's not the King who's creating the circumstances of our lives. We are creating the circumstances. So we, the people can be sovereign. And that's that phrase from the Declaration of Independence that we always go back to. And that is something that then was visceral to them. They felt it because they were in the midst of it. We don't get it now because we're just reading about it. But they felt it. Yes, they really did. And the interesting thing that's also suppressed in the way that our history is represented is that from the time of the Currency Act right through the Declaration of Independence, there were committees of correspondence in all of the colonies that communicated with each other. They would have a big meeting. They'd come up with this great idea or this understanding, whatever, and the guy would take off on his horse and deliver the notes of that meeting to all the other committees of correspondence throughout the colonies. So that's what we want to do. We want to go back to what we call the organic laws. We would like to recreate the conditions of the colonists by always referring to and living out of and recreating that situation that the colonists enjoyed. And that means understanding what the organic law is. So the organic law is essentially God's law or you could say common law or nature's law, natural law. And the documents from those days, the Declaration of Independence is an organic law. The Articles of Confederation is an organic, not corporate law. The Northwest Ordinance, for example, which talked about how the colonies were going to bring in new states west and north of the Ohio, is another example of organic law. There are maxims of law. In other words, just as an example, you cannot lend something that is not yours, maximum of law, violated by every bank every day, ongoing. I mean, it's quite astounding and treaty law. So the agreements, if we the people, if I'm an individual sovereign and I make an agreement with you, another sovereign, it's a treaty. It's basically an agreement about how we're going to regulate our affairs. So the idea of the Republic that we're wanting to create and we're wanting to create it from the ground up, this is not about a revolution at all. It's just about creating the understanding that we need in order to be able to recreate those conditions in which people were genuinely free, in which people were genuinely what do you call it, self-sufficient, independent, because they could act without the constraints of the existing monetary system. And if you're interested in that, USARepublic with a CK, USARepublic.info. Is the website of the Republic that we're developing. And I've also been working on the Massachusetts Republic, spelled the way you would expect it, MassachusettsRepublic.org website, which is also very much a work in progress. Five seconds to say thank you for watching part one. And you're now going to be watching part two. So we'll see you.