[p2p-research] debt free, interest free, issued by US treasury till 1971 + Fed, Bonds, and M0 creation

[Dante-Gabryell Monson]

some references to support what I was saying in the last message,  in
relation to M0 :

http://en.wikisource.org/wiki/Modern_Money_Mechanics

http://www.youtube.com/watch?v=pC8I3J-1GSM&NR=1



On Sun, Jul 18, 2010 at 12:47 PM, Dante-Gabryell Monson <
dante.monson at gmail.com> wrote:

> Although I just noticed Patrick's reply on July 9, mentionning Greenbaks,
> Silverbacks, ...
>
> http://listcultures.org/pipermail/p2presearch_listcultures.org/2010-July/009364.html
>
> I feel like sharing some more references,
> and open the question as to how M0 is issued by the central ( private,
> "fed" ) bank.
>
> ------
>
> <http://listcultures.org/pipermail/p2presearch_listcultures.org/2010-July/009364.html>Other
> then colonial script,
> there is to my knowledge another debt free, interest free issuance of money
> - called green backs / united states note , issued by the Treasury ( not by
> the private "Central Bank / "the fed" ) till 1971 in the US :
>
> http://en.wikipedia.org/wiki/United_States_Note
>
> *excerpts :*
> *
> *
> *http://en.wikipedia.org/wiki/United_States_Note#The_Legal_Tender_Acts*
> *
> *
> *"Legal tender status guaranteed that creditors would have to accept the
> notes despite the fact that they were not backed by gold, bank deposits, or
> government reserves, and bore no interest."*
> *
> *
> *
> http://en.wikipedia.org/wiki/United_States_Note#Comparison_to_Federal_Reserve_Notes
> *
>
> *"The difference between a United States Note and a Federal Reserve Note
> is that a United States Note represented a "bill of credit" and was inserted
> by the Treasury directly into circulation free of interest. Federal Reserve
> Notes are backed by debt purchased by the Federal Reserve, and thus
> generate seigniorage <http://wiki/Seigniorage> for the Federal Reserve
> System <http://wiki/Federal_Reserve_System>, which serves as a lending
> intermediary between the Treasury and the public."*
>
> ----
>
> *After the intervention of President Jackson to a non-renewal of the
> charter of the second central bank ( h*
> ttp://en.wikipedia.org/wiki/Second_Bank_of_the_United_States#Bank.27s_decline<http://en.wikipedia.org/wiki/Second_Bank_of_the_United_States#Bank.27s_decline>
>  ) *, there has been no central bank for around 70 years.*
>
> *----*
> *
> *
> *Also note that the current private central bank / Federal Reserve , to my
> current understanding, buy's Treasury Bonds ( with money it creates out of
> thin air ) to guarantee the M0 ( base money ) on which it sets its interest
> rate,*
> *and which banks need to use to enable fractional banking.*
>
> note : I m trying to find back documents that support this explanation.
> Easiest for the moment is to refer to the documentary , "The Money Masters"
>
> @ 1 hour 57 minutes and 45 seconds
>
> http://video.google.com/videoplay?docid=-515319560256183936#
> *
> *
> *
> *
> *also of interest :*
> *
> *
> *http://en.wikipedia.org/wiki/Monetary_base*
>
> http://en.wikipedia.org/wiki/Fractional-reserve_banking
>
> http://en.wikipedia.org/wiki/Federal_Reserve_System#Central_bank
>
> excerpt :
> *
> *
> *"In its role as the **central bank* <http://wiki/Central_bank>* of the
> United States, the Fed serves as a banker's bank and as the government's
> bank." ... "**the Fed sells and redeems **U.S. government securities*<http://wiki/Treasury_security>
> * such as savings bonds and Treasury bills, notes and bonds."*
> *
> *
> *http://en.wikipedia.org/wiki/Criticism_of_fractional-reserve_banking
> *
> On Sun, Jul 18, 2010 at 10:58 AM, Dante-Gabryell Monson <
> dante.monson at gmail.com> wrote:
>
>> there have been some presidents of the united states that have been
>> fighting against central bankers - see :
>>
>> President Jefferson :
>>
>> http://en.wikipedia.org/wiki/Thomas_Jefferson#Banks_and_bankers
>> *
>> *
>> *excerpt : *
>> *
>> *
>> * <http://en.wikipedia.org/wiki/Thomas_Jefferson#Banks_and_bankers>" **His
>> opposition to the **Bank of the United States*<http://wiki/Second_Bank_of_the_United_States>
>> * was fierce: "I sincerely believe, with you, that banking establishments
>> are more dangerous than standing armies; and that the principle of spending
>> money to be paid by posterity, under the name of funding, is but swindling
>> futurity on a large scale."**[**55**]*<#129e52a8a82e8707_129e4c6940a2312e_cite_note-54>
>> * Nevertheless Madison and Congress, seeing the financial chaos caused by
>> the War of 1812, disregarded his advice and created the **Second Bank of
>> the United States* <http://wiki/Second_Bank_of_the_United_States>* in
>> 1816. "*
>>
>> President Jackson :
>>
>>
>> http://en.wikipedia.org/wiki/Andrew_Jackson#Opposition_to_the_National_Bank
>>
>> also see around 1hour09 on *" **The Money Masters - How International
>> Bankers Gained Control of America "*
>>
>> http://video.google.com/videoplay?docid=-515319560256183936#
>>
>>
>> and, before the revolution leading to the birth of the united states, and
>> before the first and second ( private ) central bank,
>>
>> there has been "colonial script" , which was ( although I m searching for
>> specific references ), apparently not debt based, but issued by forms of
>> colonial governance related to the colonies :
>>
>> http://p2pfoundation.net/Colonial_Script
>> ( also see : http://en.wikipedia.org/wiki/Early_American_currency )
>>
>> excerpt :
>>
>> http://en.wikipedia.org/wiki/Colonial_Script
>> *
>> *
>> *"Bills of credit were usually issued by colonial governments to pay
>> debts. The governments would then retire the currency by accepting the bills
>> for payment of taxes. When colonial governments issued too many bills of
>> credit, or failed to tax them out of circulation,** **inflation*<http://wiki/Inflation>
>> * **resulted."*
>>
>> also note that Colonial Script made illegal ( by the British ) may have
>> contributed greatly to leading to the American Revolution ,
>> see :
>>
>> http://en.wikipedia.org/wiki/Currency_Act
>>
>> On Sat, Jul 17, 2010 at 5:45 PM, Patrick Anderson <agnucius at gmail.com>wrote:
>>
>>> Michel Bauwens wrote:
>>> > you make it sound like it is an objective matter,
>>> > that governments choose rationally,
>>> > instead of a matter of social and political power,
>>>
>>> Sounds like we need to get a president into office who is willing to
>>> use military force against these foes.
>>>
>>>
>>> Ellen Woods wrote:
>>> > We have a government run by and for Big Business,
>>> > and Big Business has gotten control because its
>>> > affiliated banks have monopolized the business of
>>> > issuing the national money supply, a function the
>>> > Constitution delegated solely to Congress.
>>>
>>> Let's Roll the Tanks against the Banks!
>>>
>>> If words do not work, then we should send an air-strike to level the
>>> buildings housing these villains just as the (possibly mythical) Jesus
>>> did against the money-changers.
>>>
>>> Why do we cower in fear when we have the firepower to eliminate these
>>> parasites from our governing bodies?
>>>
>>> Let us bring down these institutions of usury in the same way the WTC
>>> towers were demolished and the center support structures melted by
>>> powers within our country.
>>>
>>> _______________________________________________
>>> p2presearch mailing list
>>> p2presearch at listcultures.org
>>> http://listcultures.org/mailman/listinfo/p2presearch_listcultures.org
>>>
>>
>>
>
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