Recession or depression? The Aldrich-Vreeland Act.

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Thomas Hedin's picture
Thomas Hedin
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Recession or depression? The Aldrich-Vreeland Act.

On May 30, 1908 Congress passed the Aldrich-Vreeland Act which permitted the national chartered banks to issue currency on State, County, City, Town bonds and commercial paper, as well as Federal Governement Bonds.  Black's law Dictionary defines Commercial paper as: Bills of exchange, promissory notes, bank checks, and other negotiable instruments for the payment of money.  This includes short-term notes issed by corporate borrowers.  Once money becomes your god there seems to be no end to greed.

Once, the super elites get control of a nation's money system the same things happen over and over again.  First the money flows out as loans and the country booms.  Then the nation's bankers create a money panic or crises and the money becomes very scarce.  The nation has recessions or depression (the only difference, is that it is a recession if you lose everthing you have worked for.    It is a depression if I lose everything that I have worked for.)  and the working class start losing everything that they have worked years to obtain.

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DrKrbyLuv
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Re: Recession or depression? The Aldrich-Vreeland Act.

Thomas,

Yup, I agree.  People debate gold money, fiat money, Keynesian, Austrian, and on and on.  These notions do not matter, the key is...who issues and controls the flow of new currency?  

If a private banking cartel controls it, debt is monetized.  If the people issue and control new currency (through their elected government), then the national wealth and productivity is monetized.  When wealth is monetized, there is no need for federal taxes or any government debt. 

The type of currency doesn't really matter.  If you use a debt based system, it is terminally flawed by the mathematical laws of exponential growth.  The system must inflate continuously as debt is always greater than money.  

This is not just a theory as it has been shown over and over again through-out history.  The Romans issued a fiat currency (cheap, token coins of copper and bronze) before 300 BC.  The empire exploded with growth and prosperity and civilization took a step.  Julius Cesar demonetized the "fiat" coins and replaced them with gold coins, the money of the wealthy.  A huge depression resulted and civilization took a step backwards.

Thanks for talking about monetary policy - it is the issue of our age.

Larry

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Thomas Hedin
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Re: Recession or depression? The Aldrich-Vreeland Act.

Taken from www.moneyaswealth.blogspot.com

Lets take notice how Rome operated under a debt money system that operated nearly identically to ours.

109 A.D. - Roman Historian, Tacitus

 
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Witten on The Financial "Crisis" in Rome. Note The Date.

"Credit Crisis"
Government Involvement
Lawsiuts and Foreclosures
Real Estate Crisis
Banks Not Lending
Big Drop in Housing Prices
Personal and Financial Ruin
Bank Bailout

Sound Familiar?

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Read what a Roman Senator and historian wrote about the subject 1,900 years ago:

 

"Hence followed a scarcity of money, a great shock being given to all credit, the current coin too, in consequence of the conviction of so many persons and the sale of their property, being locked up in the imperial treasury or the public exchequer. To meet this, the Senate had directed that every creditor should have two-thirds his capital secured on estates in Italy. Creditors however were suing for payment in full, and it was not respectable for persons when sued to break faith. So, at first, there were clamorous meetings and importunate entreaties; then noisy applications to the praetor's court. And the very device intended as a remedy, the sale and purchase of estates, proved the contrary, as the usurers had hoarded up all their money for buying land. The facilities for selling were followed by a fall of prices, and the deeper a man was in debt, the more reluctantly did he part with his property, and many were utterly ruined. The destruction of private wealth precipitated the fall of rank and reputation, till at last the emperor interposed his aid by distributing throughout the banks a hundred million sesterces, and allowing freedom to borrow without interest for three years, provided the borrower gave security to the State in land to double the amount. Credit was thus restored, and gradually private lenders were found. The purchase too of estates was not carried out according to the letter of the Senate's decree, rigour at the outset, as usual with such matters, becoming negligence in the end." 
 


- Tacitus, Roman Senator and Historian, 109 A.D.

 

 

Nothing turned around until there was interest free money. But, even then, they did not fix the problem - they let the banks do it to them again after three years.

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Upayable interest is the problem. Banks manipulating "credit" is the problem.
 
The result is the same - no matter what century you live in.
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The solution is to STOP. Stop the bank-credit-lending-at-interest scheme (scam) and the government (We The People) should restore the ownership of the money to the people. The banks now own the money and you may merely borrow it. But, that can and must change.
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DrKrbyLuv's picture
DrKrbyLuv
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Re: Recession or depression? The Aldrich-Vreeland Act.

Thomas,

I thoroughly enjoyed your comments about the "debt and interest" free three year injection into the Roman economy right after the first century A.D.  We may think civilization progresses but yet we see the same financial battles fought over and over again.

We tend to look at generals and tactical maneuvers as to the why and how of conflict resolution.  But "statism" (sp?) is a narrow look at history, more importantly - have the people prospered by government policy? 

I strongly suspect that you have an early copy of Byron Dale's coming book.  Would you please give us an early review, in a separate thread, about the book?  People are beginning to realize that monetary policy is the under pinnings of human rights.

Give us the scoop!

Larry

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Thomas Hedin
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Re: Recession or depression? The Aldrich-Vreeland Act.

I am in possession of a proof read copy of the book.  My copy is well over a year old, and the final version has many, many changes to it.

As far an early review all I can tell you is that you simply will not find another book like it anywhere in America the world.  Beyond that I'm going to have to let people come to their own conclutions about the book.  I think it's title really says it all "Modern Money Secrets and the way out of catastrophic debt".  What I can tell you though is that it put multiple proof readers into tears, and some could not finish the book.  My guess is they couldn't handle finding out just how badly they have been stolen from their whole lives.

I really hope that his book is enough to create a title wave of pressure on congress to listen to the people damnit and give us what is rightfully ours, an honest money system so that life, liberty, and the pursuit of happiness can once again happen in my country.  A country where a man can own the means of his production (true capatilism).  A country where freedom actually means something.  A country I can be proud to call home.  We might all be slaves to the banking system, but I will be an unwilling one, and anyone who dares call himself a man ought to be an unwilling one too.

 

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ao
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christieS wrote: Just to
christieS wrote:

Just to give you an update with the banking industry... According to the Federal Deposit Insurance Corp.'s list, the amount of financial institutions most at risk to crash is lower than it was in the first quarter of 2011. This is the first decrease in 5 years. While growth is indicated, it has been slow and the FDIC remains cautious. Better check this out: Number of problem financial institutions falls in second quarter. This could be an indication that the banking industry is on its way to development and that would be great. This would help us get rid of financial crisis that we're suffering nowadays.

Welcome christieS.  Have you watched the Crash Course?  If not, I would suggest you do so.  Then you'll have a better understanding of why the financial crisis is not going away any time soon and, in fact, will worsen.

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