Instead of throwing good money after bad, let us restore the American Constitution!!!

[gsvol]

A remarkable English historian, John Twells, wrote, speaking of the money of the Colonies, the Colonial Scrip:

“It was the monetary system under which America’s Colonies flourished to such an extent that Edmund Burke was able to write about them: ‘Nothing in the history of the world resembles their progress. It was a sound and beneficial system, and its effects led to the happiness of the people.’”

If Obama would fulfill the promises of hope and change and embrace/implement a program along these lines, I would sing his praises to high heaven.

Today, in America as well as in Europe, we are under the regime of the Scrip of the Bankers instead of the scrip of the nation. Hence the public debts, everlasting interest charges, taxes that plunder purchasing power, with the only result being a consolidation of the financial dictatorship.

There is only one cure for America’s ultimate financial collapse and that is for Congress to exercise Clause 30 of the “Federal” Reserve Act, buy the outstanding shares of stock, shut down this unconstitutional system and sell off their assets to reimburse the people of this nation for this unspeakable theft of their wealth. This is the first installment of postings on this issue, new ones will be put up as soon as manpower allows.

Come on over to the other side, life is wonderful and love reigns supreme, hatred can be a thing of the past.

 

[droski]

right because the lack of stong monetary policy worked real well for us in the 30s. have you ever taken an economics class?

 

[VolsNSkinsFan]

how about we bring back the uptick rule?

Thats all I ask for

 

[gsvol]

right because the lack of stong monetary policy worked real well for us in the 30s. have you ever taken an economics class?

The only thing that got us out of the great depression was WWII and that was negotiated to eventually occur at the end of WWI. FDRs policies did not get us back to stability and prosperity!!!!!!!

 

[droski]

The only thing that got us out of the great depression was WWII and that was negotiated to eventually occur at the end of WWI. FDRs policies did not get us back to stability and prosperity!!!!!!!

exactly my point. we didn't have a stong monetary policy and that is why the great depression happened in the first place.

 

[gsvol]

exactly my point. we didn't have a stong monetary policy and that is why the great depression happened in the first place.

That's where you are wrong. (what's a strong monetary policy? More borrowing of money it is not possible to ever pay back??)

The great depression happened in the first place because the bank of England shut down our money supply.
(the bank of England being a private rather than national entity.)

The main causes for the Great Depression was the Federal Reserve System of the United States.

Many naive persons (such as you droopski) think of the Federal Reserve System as a part of the United States government, which it emphatically is not.


Probably this is because the only money we have nowadays is marked "Federal Reserve Note." The Federal Reserve is a privately owned and privately managed institution. Those who can remember the 1960's can recall that there were one dollar silver certificates as well as United States Notes, the descendants of Lincoln's greenbacks, in several denominations. But after the Kennedy assassination, the private Federal Reserve established a monopoly on printing American money, shutting out the US Federal Government from this important (constitutional) function.

In this way the Federal Reserve System violates the letter and spirit of the United States Constitution.

There, in Article I, Section 8, Clause 5 we read that the Congress shall have the power "to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures."

The Federal Reserve was created in December, 1913 when Woodrow Wilson signed the Glass-Owen Federal Reserve Act. That bill had been the product of cloak-and-dagger machinations by Wall Street financiers and their political mouthpieces, many of them in league with the City of London.

Wall Streeter Frank A. Vanderlip, in his autobiography "From Farm Boy to Financier" narrates that the secret conference which planned the Federal Reserve was "as secret - indeed, as furtive - as any conspirator."

Vanderlip was one of the insiders invited to the Jekyl Island Club on the coast of Georgia in the autumn of 1910 by the Senator Nelson Aldrich, the father-in-law of John D. Rockefeller Jr.

Aldrich also invited Henry Davison of J.P. Morgan & Co., and Benjamin Strong, the future Governor of the New York Federal Reserve Bank.

Also on hand was Paul Warburg of the notorious international banking family, descended from the Del Banco family of Venice.

As Vanderlip recounted, "We were instructed to come one at a time and as unobtrusively as possible to the railway terminal on the New Jersey littoral of the Hudson, where Senator Aldrich's private car would be in readiness, attached to the rear end of a train for the South."